ICICI Direct's research report on Majesco
Majesco’s revenues increased 4.4% QoQ to Rs 276 crore in Q4FY20. A key highlight in the quarter was that the company’s IBM MetLife has gone live. We believe this has resulted in a sharp increase in cloud subscription revenues, up 7.2% QoQ, 47.3% YoY. This, coupled with a sharp rise in product revenues (up 7.8% QoQ, 28.7% YoY) led to a 160 bps QoQ increase in EBIT margins to 10.1% in Q4FY20.
Outlook
Hence, we stay positive on the stock and maintain BUY with a revised TP of Rs 380.
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!
