Coforge - Contender On A Path Of Championship: IDBI Capital Initiates Coverage

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .IDBI Capital Report.Coforge Ltd.’s presence in niche sub verticals of banking, financial services insurance and travel, transportation and hospitality, consistent deal wins, lower attrition and lower client concentration distinguishes it from peers. With the advent of new Chief Executive Officer, its performance has improved significantly registering revenue compound annual growth rate of 17% and 130 basis points improvement in Ebit margin during FY18-FY22. In addition, based on nine month executable order book over next 12 months i.e. $ 841 million indicates a visibility of 20% revenue growth in next 12 months (based on historical trend). Coforge’s ability to convert challenges to opportunities (as seen in TTH) will help in defending itself from the macro challenges. Considering this, we estimate revenue and profits to increase at 16% and 21% CAGR over FY23E-25E..Click on the attachment to read the full report:.Bank Versus IT - Their Roles In Alpha Creation: Motilal Oswal's Analysis.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Coforge - Contender On A Path Of Championship: IDBI Capital Initiates Coverage

Strong near term outlook and revenues to double.

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