Hem Securities has given Buy recommendation for Mphasis with a target price of Rs. 2323 in its research report issued on Sep 23, 2022

Hem Securities report on Mphasis

Mphasis Ltd Q1 FY23 consolidated revenues came in at ₹3411 Cr, up 26.77% YoY and up 4.08% QoQ. Op Profit for Q1FY23 stood at ₹600 Cr, up 22.62% YoY and up 3.96% QoQ. Op margins for Q1FY23 came at 17.59%, -60bps YoY and -2 bps QoQ. PAT for Q1FY23 stood at ₹401.87 Cr, up 18.31% YoY and up 2.50% QoQ.


We initiate a “BUY” rating on the stock and value the stock at 21.9x FY24E earnings to arrive at the target of ₹2323.

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