Buy Majesco; target of Rs 460: BP Equities

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26 Aug, 2025 12:21

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BP Equities' report on Majesco"Majesco Ltd (MJCO) is the spin-off business unit of Mastek Ltd which got listed in NSE & BSE on 19th Aug 2015. Majesco is a core software solution provider to the US Property & Casualty/General Insurance (“P&C”), and Life, Annuities & Pensions (“L&A”) insurance companies. MJCO provides services policy administration, claims management and billing and has a highly rated platform from leading US rating agencies like Gartner and Celent. The company recently got listed in NYSE after acquiring Cover-All technologies and Agile in the US. The combined entity has a revenue of US$ 106 mn in FY15. total 140 customers and employees ~1850 insurance professionals having a global foot print in US, Canada, UK, Malaysia, Thailand and India. The company Insurance business has growth strongly in the past three years with Insurance grew at a CAGR of ~22% and P&C clocked a CAGR of 36% in FY12-15. The company derives ~88% revenues from US market and 6% from UK. Insurance business contributes is 96% of total business."Valuation & Outlook"In view of listing of Majesco in NYSE (currently trading at US$ 4.9), huge opportunity in the US P&C Insurance market, increased management focus on developing non-linear IP-led insurance business, revenue growth drivers in place for Majesco along with improvement in margins, we remain positive on the future prospects of the company. Buy the stock with a target price of Rs 460", says BP Equities research report.For all recommendations, 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.

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