Buy Tech Mahindra; target of Rs 646: Angel Broking

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26 Aug, 2025 12:21

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Angel Broking's reserach report on Tech Mahindra Tech Mahindra posted better than expected results for 2QFY2016. The company posted a 2.2% qoq growth in revenue to US$1,011mn V/s an expected US$1,004mn and V/s US$989mn in 1QFY2016. On the EBIDTA front, the EBITDA margin came in at 16.6% V/s 15.9% expected and V/s 14.9% in 1QFY2016. The company posted an EBIT margin of 13.7% V/s 13.1% expected and V/s 12.1% in 1QFY2016. Thus, the Net Profit came in at `786cr V/s `725cr expected and V/s `676cr in 1QFY2016, a qoq growth of 16.2%. We currently have a Buy rating on the stock with a price target of`646.The Management remains confident of reverting back to the original profitability by FY2017-18. We expect a CAGR of 13.0% and 8.0% in USD and INR revenue respectively over FY2015-17E, driven by acquisitions. The PAT is expected to grow at a CAGR of 8.0% over FY2015-17. We maintain our Buy on the stock.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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