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Hold Mphasis; target of Rs 2070: ICICI Direct

ICICI Direct recommended hold rating on Mphasis with a target price of Rs 2070 in its research report dated January 23, 2023.

January 24, 2023 / 07:51 PM IST
 
 
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ICICI Direct's research report on Mphasis

Mphasis Ltd (Mphasis) offers application services, BPO and infrastructure services, BFSI, technology, communication & logistic services. The company’s direct revenue increased 35.7% YoY on a reported basis and 34.4% in CC terms in FY22 • OCF, EBITDA of 75% and double digit return ratio (with RoCE of 20%.

Outlook

We maintain our HOLD rating on the stock. We value Mphasis at Rs 2070 i.e. 20x P/E on FY25E EPS.