Sharekhan's research report on Birlasoft
Key hirings under the new CEO’s is almost complete and the company is poised for a higher growth trajectory once macro headwinds subside. The company is investing in emerging tech capabilities such as Generative AI, RPA and Machine learning to stay agile while increasing and diversifying offerings. Efforts to drive sales, mine accounts, rationalise account tail, and other management strategies by new leadership team are likely to result in strong deal signings and augment healthy order pipeline thus supporting revenue visibility in FY25.
Outlook
We maintain Buy on Birlasoft with a revised PT of Rs. 750 (increase in PT reflects revision in estimates and multiple rerating due to improving earnings growth trajectory, leadership refresh and relative earning outperformance). At CMP, stock trades at 24.5x/20.9x its FY25E/26E EPS.
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