Hold Mastek; target of Rs 1800: ICICI Direct

ICICI Direct's research report on Mastek

Mastek Ltd (Mastek) offers data, apps, cloud services to public & private enterprise in the UK, US, Middle East, Asia Pacific and India • The company’s recent acquisition of Evosys has enabled Mastek to provide end-to-end solutions and improves margins from ~14% to 21% • Net debt free and healthy double digit return ratio (with RoCE of 20%).

Outlook

We maintain HOLD rating on the stock. We value Mastek at Rs 1,800 i.e. 13x P/E on FY25E EPS.

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Mastek - 251022 - icici