HDFC Securities's research report on Persistent Systems
Persistent Systems (PSYS) posted strong rev growth (Alliance business-led comprising 32.1% of rev) and in-line operating performance. Revenue came at USD 123.6mn, 5.7/9.4% QoQ/YoY led by sharp growth in Alliance business (USD 11.3mn incremental QoQ with USD 6mn incremental from re-seller business).
Outlook
Expect rev/EPS at 10/17% CAGR over FY18-20E factoring USD rev growth at 8.6/12.2% and EBITDA% at 17.3/17.7% for FY19/20E, respectively. Maintain BUY with TP of Rs 940, at 17x FY20E-EPS.
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Read More First Published on Aug 1, 2018 04:39 pm
