Axis Securities: Persistent Systems - Robust Long Term Growth Outlook
New deal wins and client additions will help Persistent Systems Ltd. attain long-term sustainable growth, Axis Securities says.
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Axis Securities Report
We believe Persistent Systems Ltd. is well placed to bounce back post Covid-19 pandemic led by -
1. Better vertical mix (having minimal impact of Covid-19) thereby faster recovery in terms of IT spending.
2. Significant growth opportunities in technology services and allied services. Robust IBM portfolio will help to gain the momentum.
3. Sustainable operating margins led by better services mix and efficient execution.
4. Healthy balance sheet, strong return ratios and free cash flow generation.
5. Ramp up in new deal wins and strong client addition will help Persistent Systems to attain long term sustainable growth.
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