Tech Mahindra - Focus On Margins, Leadership Transition: Motilal Oswal

Motilal Oswal Report

We attended Tech Mahindra Ltd.’s Investor Day 2023; the key focus of the meet was upcoming leadership transition and operational profitability.

Management commentary was encouraging, with stable spending environment and deal flow in both communication and enterprise businesses.

Tech Mahindra continues to focus on improving its profitability and expects FY24 margins to improve, led by lower subcon expenses, improving offshore, and divestment of non-accretive businesses.

With the upcoming change in leadership, due to the retirement of Mr. Gurnani (Chief Executive Officer), long-term strategic direction will continue to remain in focus.

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