Prabhudas Lilladher's report on Infosys
"The management of the Infosys, highlighted the transformation journey undertaken by the new team for “Delivery Effectiveness” (duality of “New” and “Renew”), “Sales Effectiveness” (investment to build a more effective sales team), and “Cost Optimization” (investments in newer areas without major margin impact), with M&A as an integral part."
"The management was confident of achieving industry leading growth with steady operating margin by Q1FY17. The stated objective of 15-18% YoY revenue growth with 25-28% operating margin is still in reach. Despite the investments on newer initiatives, the management was confident of retaining operating margin 25% in narrow range of -/+1%."
"We are confident about the new management’s strategy to achieve its long term objective. We roll our estimates for FY17 and revised TP to Rs 2,550 (Old: Rs 2,225)", says Prabhudas Lilladher research report.
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