Motilal Oswal 's research report on Infosys
INFO has started FY20 on a strong note, with constant currency (CC) revenue growth of 12.4% YoY (our estimate: 11.8%), an EBIT margin of 20.5% (down 320bp YoY, 40bp beat) and PAT growth of 5% YoY (our estimate: +1.1%) to INR38b. Revenue growth was broad-based, with five of its verticals (incl. core segments of Financial Services, Communications, Energy/Utilities/Resources, Manufacturing and Hi-tech) delivering double-digit YoY CC growth.
Outlook
Our price target of INR840 discounts forward earnings by 19x, implying an upside of 15%. Maintain Buy.
For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
