TeamLease - Turning Positive On Attractive Valuation; Long Term Growth Outlook: 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.The staffing industry remains under-penetrated and is set to deliver consistent growth on account of formalisation and the implementation of labor law reforms over the medium term. Due to concerns about growth moderation, especially in the specialised staffing vertical, and margin pressure, TeamLease Services Ltd. has seen significant de-rating (down ~59% from the peak). We expect revenue growth to accelerate to 21% YoY in FY25, aided by a recovery in IT Services and a gradual margin recovery (up 50 basis points versus FY23). Accordingly, we estimate a 33% profit after tax compound annual growth rate over FY23-25. With current valuations focused on near-term challenges, we see scope for a re-rating in TeamLease as these challenges ease out. With healthy long-term growth prospects, margin recovery, closure of employees provident fund issues and attractive share price, we see a good upside to current valuations..Click on the attachment to read the full report:.Zen Technologies - Strong Order Book Brings Better Earning Visibility: HDFC Securities Initiates Coverage.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."

TeamLease - Turning Positive On Attractive Valuation; Long Term Growth Outlook: Motilal Oswal

Valuation factors in near-term challenges.

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TeamLease - Turning Positive On Attractive Valuation; Long Term Growth Outlook: Motilal Oswal

Valuation factors in near-term challenges.

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