February 01, 2017 / 15:12 IST
Continued traction on client mining coupled with 9 transformational deal wins and beat on EBIT margin in Q3FY17 highlights HCLT’s strategy is resonating well with clients and HCLT’s execution excellence. Increasing acceptance of its next generation offerings, enhancing next-gen partnerships and maintenance of FY17 guidance (revenue growth of 12-14% in constant currency terms, EBIT: 19.5% to 20.5%) signal HCLT will outperform peers.
OutlookOur FY17/18 revenue stands at USD 7/7.7 bn (excluding Geometric and Butler America Aerospace LLC acquisition) with an EPS of Rs 58/ Rs 68. Our TP of Rs 880 (13x FY18E EPS) implies 4% upside fromCMP of Rs 849. Maintain HOLD. The stock trades at 15x/13x FY17E/18E EPS.
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