Price Target Changed • Apr 27
Price target decreased by 12% to ₹645 Down from ₹731, the current price target is an average from 12 analysts. New target price is 18% above last closing price of ₹548. Stock is down 24% over the past year. The company is forecast to post earnings per share of ₹34.73 for next year compared to ₹34.12 last year. Reported Earnings • Apr 25
Full year 2026 earnings: EPS exceeds analyst expectations Full year 2026 results: EPS: ₹34.12 (up from ₹28.65 in FY 2025). Revenue: ₹59.2b (up 12% from FY 2025). Net income: ₹7.75b (up 19% from FY 2025). Profit margin: 13% (in line with FY 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.0%. Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the IT industry in India. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Tillkännagivande • Apr 17
Zensar Technologies Limited to Report Q4, 2026 Results on Apr 24, 2026 Zensar Technologies Limited announced that they will report Q4, 2026 results at 12:15 PM, Indian Standard Time on Apr 24, 2026 Tillkännagivande • Feb 04
Zensar Reportedly in Talks to Acquire Promoter Stake in Mastek Zensar Technologies Limited (BSE:504067) is in talks to acquire an 18%-20% stake from promoters of Mastek Limited (NSEI:MASTEK), three people familiar with the matter told Mint. The proposed transaction is expected to be valued at over $200 million and could go up to $400 million, though discussions are ongoing and no deal has been finalized, the people added. The promoter stake sale in Mastek, which has been in the works for some time, is contingent on both sides agreeing on the company's enterprise valuation, one of the people quoted above said. "The promoters have been wanting to sell for a while now, but, as per their current expectations, the deal could value the company at almost double its current market capitalisation," the person added. The people quoted above also told Mint that potential buyers such as private equity firm ChrysCapital and Pune-based IT services firm Persistent Systems Ltd. had evaluated the deal earlier. "Persistent even reached the exclusivity stage, but all these deals fell through due to the company's high valuation expectations," the first person added. Consulting firm EY is advising Zensar on the deal, the people quoted above said. Emails sent to Zensar Technologies, Mastek, Persistent Systems, EY and ChrysCapital went unanswered until press time. Declared Dividend • Jan 26
Dividend increased to ₹2.40 Dividend of ₹2.40 is 20% higher than last year. Ex-date: 29th January 2026 Payment date: 17th February 2026 Dividend yield will be 1.9%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is well covered by both earnings (41% earnings payout ratio) and cash flows (45% cash payout ratio). The dividend has increased by an average of 19% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 16% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Tillkännagivande • Jan 23
Zensar Technologies Limited Approves Interim Dividend, Payable on or Before February 17, 2026 Zensar Technologies Limited at its board meeting held on January 22, 2026, approved an interim dividend of INR 2.40 (i.e. 120%) per Equity Share of INR 2.00 each of the Company and the interim dividend shall be paid to the Members on or before February 17, 2026, to the equity shareholders of the Company, whose names appear on the Register of Members of the Company or in the records of the Depositories as beneficial owners of the shares as on January 29, 2026, which is the Record Date fixed for the purpose. Reported Earnings • Jan 23
Third quarter 2026 earnings: EPS exceeds analyst expectations Third quarter 2026 results: EPS: ₹8.80 (up from ₹7.04 in 3Q 2025). Revenue: ₹14.3b (up 7.9% from 3Q 2025). Net income: ₹2.00b (up 25% from 3Q 2025). Profit margin: 14% (up from 12% in 3Q 2025). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 7.4%. Revenue is forecast to grow 9.6% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the IT industry in India. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 47% per year, which means it is tracking significantly ahead of earnings growth. Tillkännagivande • Jan 15
Zensar Technologies Limited to Report Q3, 2026 Results on Jan 22, 2026 Zensar Technologies Limited announced that they will report Q3, 2026 results at 12:15 PM, Indian Standard Time on Jan 22, 2026 Reported Earnings • Nov 01
Second quarter 2026 earnings released: EPS: ₹8.02 (vs ₹6.88 in 2Q 2025) Second quarter 2026 results: EPS: ₹8.02 (up from ₹6.88 in 2Q 2025). Revenue: ₹14.7b (up 12% from 2Q 2025). Net income: ₹1.82b (up 17% from 2Q 2025). Profit margin: 12% (in line with 2Q 2025). Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the IT industry in India. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has increased by 54% per year, which means it is tracking significantly ahead of earnings growth. Tillkännagivande • Oct 16
Zensar Technologies Limited to Report Q2, 2026 Results on Oct 31, 2025 Zensar Technologies Limited announced that they will report Q2, 2026 results on Oct 31, 2025 Board Change • Oct 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. 1 highly experienced director. CEO, MD & Executive Director Manish Tandon was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Tillkännagivande • Jul 11
Zensar Technologies Limited to Report Q1, 2025 Results on Jul 22, 2025 Zensar Technologies Limited announced that they will report Q1, 2025 results on Jul 22, 2025 Reported Earnings • Jul 03
Full year 2025 earnings: Revenues and EPS in line with analyst expectations Full year 2025 results: EPS: ₹28.65 (down from ₹29.36 in FY 2024). Revenue: ₹52.8b (up 7.7% from FY 2024). Net income: ₹6.50b (down 2.3% from FY 2024). Profit margin: 12% (down from 14% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 9.8% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the IT industry in India. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has increased by 47% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Jun 28
Final dividend increased to ₹11.00 Dividend of ₹11.00 is 57% higher than last year. Ex-date: 11th July 2025 Payment date: 23rd August 2025 Dividend yield will be 1.5%, which is lower than the industry average of 1.7%. Sustainability & Growth Dividend is covered by both earnings (45% earnings payout ratio) and cash flows (56% cash payout ratio). The dividend has increased by an average of 20% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 38% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Tillkännagivande • Jun 27
Zensar Technologies Limited, Annual General Meeting, Jul 24, 2025 Zensar Technologies Limited, Annual General Meeting, Jul 24, 2025, at 15:30 Indian Standard Time. Reported Earnings • Apr 26
Full year 2025 earnings: Revenues and EPS in line with analyst expectations Full year 2025 results: EPS: ₹28.65 (down from ₹29.36 in FY 2024). Revenue: ₹54.4b (up 11% from FY 2024). Net income: ₹6.50b (down 2.3% from FY 2024). Profit margin: 12% (down from 14% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 9.4% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the IT industry in India. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has increased by 30% per year, which means it is tracking significantly ahead of earnings growth. Tillkännagivande • Apr 17
Zensar Technologies Limited to Report Q4, 2025 Results on Apr 25, 2025 Zensar Technologies Limited announced that they will report Q4, 2025 results on Apr 25, 2025 New Risk • Mar 17
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹968, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 28x in the IT industry in India. Total returns to shareholders of 143% over the past three years. Declared Dividend • Jan 24
Dividend of ₹2.00 announced Dividend of ₹2.00 is the same as last year. Ex-date: 28th January 2025 Payment date: 10th February 2025 Dividend yield will be 1.1%, which is lower than the industry average of 1.7%. Sustainability & Growth Dividend is well covered by both earnings (32% earnings payout ratio) and cash flows (43% cash payout ratio). The dividend has increased by an average of 16% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 28% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jan 23
Third quarter 2025 earnings: EPS exceeds analyst expectations Third quarter 2025 results: EPS: ₹7.04 (down from ₹7.14 in 3Q 2024). Revenue: ₹13.6b (up 13% from 3Q 2024). Net income: ₹1.60b (down 1.2% from 3Q 2024). Profit margin: 12% (down from 13% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.1%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 8.0% growth forecast for the IT industry in India. Over the last 3 years on average, earnings per share has increased by 25% per year whereas the company’s share price has increased by 28% per year. Tillkännagivande • Jan 22
Zensar Technologies Limited Approves Interim Dividend, Payable on or Before February 10, 2025 Zensar Technologies Limited at its board meeting held on January 22, 2025, approved an interim dividend of INR 2.00 (that is 100%) per Equity Share of INR 2.00 each of the Company. The interim dividend shall be paid to the Members, whose names appear in the Register of Members of the Company or in the records of the Depositories as beneficial owners of the shares as on January 28, 2025, which is the Record Date fixed for the purpose. Tillkännagivande • Jan 09
Zensar Technologies Limited to Report Q3, 2025 Results on Jan 22, 2025 Zensar Technologies Limited announced that they will report Q3, 2025 results on Jan 22, 2025 Recent Insider Transactions • Nov 03
Insider recently sold ₹12m worth of stock On the 28th of October, Nachiketa Mitra sold around 18k shares on-market at roughly ₹686 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹62m more than they bought in the last 12 months. Reported Earnings • Oct 23
Second quarter 2025 earnings: EPS exceeds analyst expectations Second quarter 2025 results: EPS: ₹6.88 (down from ₹7.68 in 2Q 2024). Revenue: ₹13.1b (up 5.4% from 2Q 2024). Net income: ₹1.56b (down 11% from 2Q 2024). Profit margin: 12% (down from 14% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.9%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 8.0% growth forecast for the IT industry in India. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Tillkännagivande • Jul 25
Zensar Technologies Limited (BSE:504067) completed the acquisition of BridgeView Life Sciences, LLC. Zensar Technologies Limited (BSE:504067) entered into a definitive agreement to acquire BridgeView Life Sciences, LLC for $25 million on July 17, 2024. As a part of consideration, Zensar Technologies Limited will pay $14 million in cash and additional earnout will be $11 million by 31st December 2027 contingent on achievement of
performance and employment continuity thresholds. The transaction is subject to regulatory approval and the transaction is expected to close within 2-3 weeks subject to the satisfaction of customary closing conditions.
Zensar Technologies Limited (BSE:504067) completed the acquisition of BridgeView Life Sciences, LLC on July 24, 2024. Price Target Changed • Jul 24
Price target increased by 8.2% to ₹792 Up from ₹732, the current price target is an average from 10 analysts. New target price is approximately in line with last closing price of ₹767. Stock is up 58% over the past year. The company is forecast to post earnings per share of ₹28.99 for next year compared to ₹29.36 last year. Tillkännagivande • Jul 18
Zensar Technologies Limited (BSE:504067) entered into a definitive agreement to acquire BridgeView Life Sciences, LLC for $25 million. Zensar Technologies Limited (BSE:504067) entered into a definitive agreement to acquire BridgeView Life Sciences, LLC for $25 million on July 17, 2024. As a part of consideration, Zensar Technologies Limited will pay $14 million in cash and additional earnout will be $11 million by 31st December 2027 contingent on achievement of
performance and employment continuity thresholds. The transaction is subject to regulatory approval and the transaction is expected to close within 2-3 weeks subject to the satisfaction of customary closing conditions. Reported Earnings • Jul 18
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: ₹29.36 (up from ₹14.47 in FY 2023). Revenue: ₹49.0b (up 1.1% from FY 2023). Net income: ₹6.65b (up 103% from FY 2023). Profit margin: 14% (up from 6.8% in FY 2023). The increase in margin was primarily driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.6%. Revenue is forecast to grow 10.0% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the IT industry in India. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has increased by 28% per year, which means it is tracking significantly ahead of earnings growth. Tillkännagivande • Jul 16
Zensar Technologies Limited to Report Q2, 2025 Results on Nov 14, 2024 Zensar Technologies Limited announced that they will report Q2, 2025 results on Nov 14, 2024 Price Target Changed • Jul 11
Price target increased by 7.0% to ₹732 Up from ₹684, the current price target is an average from 9 analysts. New target price is approximately in line with last closing price of ₹718. Stock is up 76% over the past year. The company is forecast to post earnings per share of ₹29.16 for next year compared to ₹29.36 last year. Declared Dividend • Jul 05
Final dividend increased to ₹7.00 Dividend of ₹7.00 is 100% higher than last year. Ex-date: 19th July 2024 Payment date: 8th September 2024 Dividend yield will be 1.2%, which is lower than the industry average of 1.7%. Sustainability & Growth Dividend is well covered by both earnings (31% earnings payout ratio) and cash flows (33% cash payout ratio). The dividend has increased by an average of 18% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 29% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Tillkännagivande • Jul 04
Zensar Technologies Limited, Annual General Meeting, Aug 09, 2024 Zensar Technologies Limited, Annual General Meeting, Aug 09, 2024, at 11:00 Indian Standard Time. Tillkännagivande • Jun 29
Zensar Technologies Limited to Report Q1, 2025 Results on Jul 23, 2024 Zensar Technologies Limited announced that they will report Q1, 2025 results on Jul 23, 2024 Recent Insider Transactions • Jun 15
Executive VP & Head of Europe recently sold ₹12m worth of stock On the 12th of June, Chaitanya Rajebahadur sold around 17k shares on-market at roughly ₹703 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹18m. Insiders have been net sellers, collectively disposing of ₹100m more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Jun 11
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹692, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 26x in the IT industry in India. Total returns to shareholders of 138% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹302 per share. Tillkännagivande • May 23
Zensar Technologies Limited Announces Resignation of Rajat Sharma as Senior Vice President, Effective June 14, 2024 Zensar Technologies Limited announced that Mr. Rajat Sharma - Senior Vice President, a Senior Managerial Personnel, has tendered his resignation to pursue opportunities outside the Organisation. He is an employee of Zensar Technologies Inc. The last working day shall be June 14, 2024, subject to organisational policies and terms of employment. Recent Insider Transactions • May 04
Executive VP & Head of Africa recently sold ₹18m worth of stock On the 29th of April, Harish Lala sold around 30k shares on-market at roughly ₹613 per share. This transaction amounted to 29% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹77m more than they bought in the last 12 months. Reported Earnings • Apr 26
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: ₹29.36 (up from ₹14.47 in FY 2023). Revenue: ₹50.6b (up 4.4% from FY 2023). Net income: ₹6.65b (up 103% from FY 2023). Profit margin: 13% (up from 6.8% in FY 2023). The increase in margin was primarily driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.6%. Revenue is forecast to grow 8.4% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the IT industry in India. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has increased by 33% per year, which means it is tracking significantly ahead of earnings growth. Tillkännagivande • Apr 09
Zensar Technologies Limited to Report Q4, 2024 Results on Apr 25, 2024 Zensar Technologies Limited announced that they will report Q4, 2024 results on Apr 25, 2024 Upcoming Dividend • Jan 26
Upcoming dividend of ₹2.00 per share at 0.9% yield Eligible shareholders must have bought the stock before 02 February 2024. Payment date: 21 February 2024. Payout ratio is a comfortable 20% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of Indian dividend payers (1.2%). Lower than average of industry peers (1.7%). Price Target Changed • Jan 23
Price target increased by 7.5% to ₹623 Up from ₹580, the current price target is an average from 7 analysts. New target price is 15% above last closing price of ₹544. Stock is up 139% over the past year. The company is forecast to post earnings per share of ₹28.10 for next year compared to ₹14.47 last year. Tillkännagivande • Jan 23
Zensar Technologies Limited Approves Declaration of Interim Dividend for the Financial Year 2023-24 Zensar Technologies Limited at the Board Meeting held on January 22, 2024 approved the declaration of an interim dividend of INR 2.00 (100%) per equity share of INR 2.00 each for the Financial Year 2023-24. Record date has been fixed a February 2, 2024, in line with intimation dated January 11, 2024, for the interim dividend and related matters. The interim dividend on the equity shares shall be paid/dispatched to the shareholders within 30 days from the date of declaration. Tillkännagivande • Jan 06
Zensar Technologies Limited to Report Q3, 2024 Results on Jan 22, 2024 Zensar Technologies Limited announced that they will report Q3, 2024 results on Jan 22, 2024 Valuation Update With 7 Day Price Move • Dec 21
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹625, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 27x in the IT industry in India. Total returns to shareholders of 176% over the past three years. Recent Insider Transactions • Oct 30
Senior VP & CFO recently sold ₹4.6m worth of stock On the 25th of October, Sachin Zute sold around 10k shares on-market at roughly ₹480 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹15m. This was Sachin's only on-market trade for the last 12 months. Price Target Changed • Oct 19
Price target increased by 13% to ₹570 Up from ₹505, the current price target is an average from 7 analysts. New target price is 11% above last closing price of ₹512. Stock is up 131% over the past year. The company is forecast to post earnings per share of ₹27.22 for next year compared to ₹14.47 last year. Tillkännagivande • Oct 18
Zensar Technologies Limited Approves Reconstitution of Nomination and Remuneration Committee Zensar Technologies Limited announced at board meeting held on October 17, 2023, approved the Nomination and Remuneration Committee of the Board stands reconstituted effective from October 18, 2023, as follows: Mr. Arvind Nath Agrawal as Chairperson, Non-Executive Independent Director, Mr. Ketan Dalal as Member, Non-Executive Independent Director and Mr. Anant Vardhan Goenka as Member, Vice-Chairman, Non-Executive - Non-Independent Director. Reported Earnings • Oct 18
Second quarter 2024 earnings: EPS exceeds analyst expectations Second quarter 2024 results: EPS: ₹7.68 (up from ₹2.51 in 2Q 2023). Revenue: ₹12.8b (up 3.4% from 2Q 2023). Net income: ₹1.74b (up 206% from 2Q 2023). Profit margin: 14% (up from 4.6% in 2Q 2023). The increase in margin was primarily driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 26%. Revenue is forecast to grow 9.3% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the IT industry in India. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has increased by 40% per year, which means it is tracking significantly ahead of earnings growth. Tillkännagivande • Oct 05
Zensar Technologies Limited Announces the Resignation of Samir Gosavi as Senior Vice President and Senior Managerial Personnel, Effective October 20, 2023 Zensar Technologies Limited announced that Mr. Samir Gosavi - Senior Vice President, a Senior Managerial Personnel, has tendered his resignation due to pursue opportunities outside the Organisation. He is an employee of Zensar Technologies Inc. USA, subsidiary of the Company. The last working day shall be October 20, 2023 subject to organizational policies and terms of employment. Tillkännagivande • Sep 21
Zensar Technologies Limited to Report Q2, 2024 Results on Oct 17, 2023 Zensar Technologies Limited announced that they will report Q2, 2024 results on Oct 17, 2023 Recent Insider Transactions • Aug 23
Insider recently sold ₹516k worth of stock On the 16th of August, Pushpall Kapadia sold around 1k shares on-market at roughly ₹516 per share. This transaction amounted to 8.3% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹25m. Insiders have been net sellers, collectively disposing of ₹54m more than they bought in the last 12 months. Recent Insider Transactions • Aug 16
Insider recently sold ₹1.5m worth of stock On the 10th of August, Pushpall Kapadia sold around 3k shares on-market at roughly ₹493 per share. This transaction amounted to 20% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹25m. Insiders have been net sellers, collectively disposing of ₹54m more than they bought in the last 12 months. Recent Insider Transactions • Jul 30
Executive VP & Head of Europe recently sold ₹25m worth of stock On the 26th of July, Chaitanya Rajebahadur sold around 52k shares on-market at roughly ₹480 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹28m more than they bought in the last 12 months. Price Target Changed • Jul 21
Price target increased by 14% to ₹445 Up from ₹390, the current price target is an average from 7 analysts. New target price is 8.3% below last closing price of ₹485. Stock is up 88% over the past year. The company is forecast to post earnings per share of ₹24.73 for next year compared to ₹14.47 last year. Reported Earnings • Jul 20
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: ₹14.47 (down from ₹18.43 in FY 2022). Revenue: ₹48.5b (up 14% from FY 2022). Net income: ₹3.28b (down 21% from FY 2022). Profit margin: 6.8% (down from 9.8% in FY 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 13%. Revenue is forecast to grow 9.2% p.a. on average during the next 3 years, compared to a 8.4% growth forecast for the IT industry in India. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 49% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jul 18
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹450, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 24x in the IT industry in India. Total returns to shareholders of 226% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹199 per share. Upcoming Dividend • Jul 14
Upcoming dividend of ₹3.50 per share at 1.2% yield Eligible shareholders must have bought the stock before 21 July 2023. Payment date: 09 September 2023. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 1.2%. Lower than top quartile of Indian dividend payers (1.5%). Lower than average of industry peers (2.0%).