Buy Polaris Consulting; target of Rs 240: P Lilladher

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26 Aug, 2025 12:21

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 Prabhudas Lilladher's report on Polaris Consulting & Services

"Management has revamped the entire sales team (~120 professionals) by weeding out underperformers and hiring new professionals. Moreover, pre-sales team has been integrated with practice to deliver specialist sales proposals. The team has been divided into 6 SBUs – Citi, Americas-1, Americas-2, Europe, APME, and ANZ. Each geography has been assigned a new Business Development head (new prospective logos have also been clubbed with Americas 1&2 to avoid confusion). Clients have been classified based on their headquarters’ geography (unlike in past, same clients in different geographies are catered by different sales professionals). We see the new structure as more apt to address growth opportunities in each SBU."

"We view the professional approach under the new management to drive growth as more pertinent. Nevertheless, client specific issue is likely to bottom-out in Q4FY15. We expect revenue momentum to improve from Q1FY16 with acceleration in H2FY16. Moreover, improved revenue momentum would yield better operating leverage in H2FY16 and FY17. We see favourable risk-reward, and upgrade Polaris to “BUY” (from “Accumulate”) with a target price of Rs 240", says Prabhudas Lilladher research report.

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