The answer is blowing in the wind
The George brothers’ Avatar small wind turbine is generating electricity for troops in Leh
Emkay Global
Persistent Systems (Buy)
Target: ₹2,200
CMP: ₹1961.10
Persistent Systems Ltd is on track to reach the $1 billion revenue milestone by FY25 (implies nearly 15.4 per cent CAGR over FY21-25) on the back of continued strong traction in the Technology Services business, anticipated recovery in the Alliance business and M&A.
The Technology Services business is likely to sustain a 3.5-5 per cent CQGR in the medium term (4.4 per cent in last 6 qtrs), aided by strong deal wins (2.1x book-to-bill in Q3), healthy deal pipeline, growing annuity revenue (3/4th of revenue) and cross-selling opportunities across the client base.
PSYS has over $250 million cash on the books and is actively pursuing M&A to augment its domain capabilities, digital offerings and expand presence in Europe. It aims to drive Europe revenue to 15-18 per cent of total revenue in 3-4 years from less than 10 per cent currently.
We raise earnings estimates by 9.8 per cent/10.8 per cent for FY22/FY23, considering strong revenue growth momentum and low amortization charges (430 bps expansion over FY20-23). We retain Buy with a revised target price of ₹2,200 at 24x FY23E earnings (earlier 22x), based on a 27 per cent earnings CAGR over FY21-23 and improving medium-term growth prospects.
The George brothers’ Avatar small wind turbine is generating electricity for troops in Leh
The Spanish flu (1918) devastated a port city like Mumbai. Could the lessons help as we brace for a second ...
Though the number is still woefully small, the good news is that more Indian companies are auditing their ...
Post-pandemic, airlines may have to combine punctuality with heightened passenger services, including safety, ...
Three-in-one: Passive debt funds come at a low cost and have high-quality portfolios. Some offer return ...
Trend in the rupee movement and Q4 earnings can give direction to the market
There is room for improvement in fund transfer options
Silver looks positive but lacks the higher volumes required to substantiate bullishness
Murder is a theme that is unlikely to darken and yellow with time, the writer Truman Capote had once said.
The iconic punk rock band took a whole generation along as they toured the globe for 22 years
On April 10, 1970, Paul McCartney announced that he was leaving The Beatles for ‘personal and professional ...
A model rehabilitation project for 100 families of rescued bonded labourers kicks off in Tiruvannamalai, ...
Marketers are padded up, sponsorship deals have been struck, and campaigns are rolling out. Now let the games ...
And what marketers can possibly do to bring it back in our lives
The agency has changed form over the years but its lustre has not dimmed
Media Factory has purchased the majority stake held by Sam and Lara Balsara of Madison World in Madison Media ...
Three years after its inception, compliance with GST procedures remains a headache for exporters, job workers ...
Corporate social responsibility (CSR) initiatives of companies are altering the prospects for wooden toys of ...
Aequs Aerospace to create space for large-scale manufacture of toys at Koppal
And it has every reason to smile. Covid-19 has triggered a consumer shift towards branded products as ...