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