Sharekhan's research report on Persistent Systems
The company is well-positioned to deliver top quartile growth in FY26, aided by robust order inflows and strong growth momentum across key markets and verticals. The management expects the BFSI and Software, Hi-Tech verticals to lead growth in FY26, followed by the healthcare & life sciences despite potential short-term pressures from DOGE/USAID funding cuts impacting healthcare clients. Growth-led operating leverage, lower SGA, right shoring, subcontractor optimisation, pricing to aid margin improvement for fiscals ahead.
Outlook
We maintain BUY with revised PT of Rs. 7,000 (51x FY27E EPS). At CMP, the stock trades at 54.3/44.1x its FY26/27E EPS.
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