External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

External broker reports(aggregated public sources)

Equity Bottom-Up

<p>About the stock: Mastek Ltd (Mastek) offers data, apps, cloud services to public and private enterprise in the UK, US, Middle East, Asia Pacific &amp; India.</p><ul><li>The company’s recent acquisition of Evosys has enabled Mastek to provide end to end solution and improve margins from ~14% to 21%</li><li>Net debt free and healthy double digit return ratio (with RoCE of 20%)</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

About the stock: Mastek Ltd (Mastek) offers data, apps, cloud services to public and private enterprise in the UK, US, Middle East, Asia Pacific &amp; India.The company’s recent acquisition of Evosys has enabled Mastek to provide end to end solution and improve margins from ~14% to 21%Net debt free and healthy double digit return ratio (with RoCE of 20%)Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Mastek Ltd: Robust Revenue Growth, Healthy Margins

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

<p>Mastek: We maintain BUY on Mastek, following a better-than-expected Q1FY22 (in terms of revenue and margin) and its strong growth prospects ahead. Mastek has seen strong growth for the past five quarters (CQGR of 8.5%), which is expected to continue, based on: (1) traction in the UK government business; (2) strong order booking (+56% YoY); (3) ramp-up of large deal wins (NHS, HMRC, Home Office); and (4) revival of the UK private and US geography. The new CEO would focus on building the US business (both organic and inorganic), reviving the UK private (retail and BFSI), and increasing investment in sales capabilities/talent.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Mastek: We maintain BUY on Mastek, following a better-than-expected Q1FY22 (in terms of revenue and margin) and its strong growth prospects ahead. Mastek has seen strong growth for the past five quarters (CQGR of 8.5%), which is expected to continue, based on: (1) traction in the UK government business; (2) strong order booking (+56% YoY); (3) ramp-up of large deal wins (NHS, HMRC, Home Office); and (4) revival of the UK private and US geography. The new CEO would focus on building the US business (both organic and inorganic), reviving the UK private (retail and BFSI), and increasing investment in sales capabilities/talent.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

HSIE Results Daily: Bajaj Finance, ICICI Prudential Life, Mastek

India

Mastek Limited provides software solutions and integration services for the financial services, insurance, manufacturing, telecom and retail sectors.

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Mastek Ltd (MAST IN)

Mastek Ltd: Robust Revenue Growth, Healthy Margins

Mastek Ltd (Mastek) offers data, apps, cloud services to public and private enterprise in the UK, US, Middle East, Asia Pacific & India.

ICICI Securities Limited

HSIE Results Daily: Bajaj Finance, ICICI Prudential Life, Mastek

Mastek: We maintain BUY on Mastek, following a better-than-expected Q1FY22 (in terms of revenue and margin) and its strong growth prospects ahead....

HDFC Securities

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