ICICI Direct's research report on Intellect Design Arena
Intellect Design Arena (Intellect) provides software products to retail, corporate banking, insurance & treasury. The company is a transition from a product company to a platform company • Intellect generates 55% of revenues from developed markets and rest from emerging markets • Recently, it saw a turnaround in margins (from 5% in FY20 to 25.1% in FY22).
We maintain BUY rating on the stock. We value Intellect at Rs 810 i.e. 20x P/E on FY24E.
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