ICICI Direct has given Hold recommendation for Mphasis with a target price of Rs. 2725 in its research report issued on Jul 23, 2021

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 international revenues have grown 22.5% YoY in FY21 and are expected to grow at a healthy pace in coming years OCF, EBITDA of 75% and double digit return ratio (with RoCE of 20%)

Outlook

However, recent run up in price prompts us to maintain HOLD rating   We value Mphasis at Rs 2725 i.e. 29x P/E on FY23E EPS

 

 

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