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 improve margins from ~14% to 21% • Net debt free and healthy double digit return ratio (with RoCE of 20%).
Outlook
We change our rating on the stock from REDUCE to HOLD. We value Mastek at Rs 1,880 i.e. 14x P/E on FY25E EPS.
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