Coforge Q1 Review - Guidance Intact Despite A Margin Miss: Motilal Oswal

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..Motilal Oswal Report.Coforge Ltd. reported an in line revenue growth of 4.7%/2.7% QoQ in constant currency/U.S. dollar terms in Q1 FY23. Growth was led by banking, financial services (up 9.4% QoQ), while insurance fell by 7.7%. It reported an order intake of $315 million, implying a book-to-bill ratio of 1.3 times, including an over $50 million deal. Ebitda margin of 16.5% (down 390 bps QoQ) missed our estimate of 17.8%. The management reiterated its FY23 Ebitda margin guidance of 18.5-19% as it guided at a 150-200 bps margin pickup in Q2 FY23. We see good revenue performance and continued momentum in deal wins as a positive and expect Coforge to deliver revenue growth ahead of its FY23 guidance of at least 20% YoY (a slight increase from its earlier guidance of up to 20% YoY growth), despite macroeconomic headwinds in H2 FY23. .Click on the attachment to read the full report:.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 Q1 Review - Guidance Intact Despite A Margin Miss: Motilal Oswal

Coforge Q1 Review - Guidance Intact Despite A Margin Miss: Motilal Oswal

Choose a plan