External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

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Equity Bottom-Up

<ul><li>The outlook for Telecom and other verticals remains uncertain in the near term, though it remains positive in the long run.</li><li>Total Contract Value (TCV) remained strong in Q1FY25, amounting to $603 Mn, driven primarily by significant deal wins in the Communication and Enterprise segments. </li><li>Management is confident of gaining medium-term demand momentum, supported by deals secured in previous quarters. Additionally, margin improvements are expected going forward.</li></ul>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.

The outlook for Telecom and other verticals remains uncertain in the near term, though it remains positive in the long run.Total Contract Value (TCV) remained strong in Q1FY25, amounting to $603 Mn, driven primarily by significant deal wins in the Communication and Enterprise segments. Management is confident of gaining medium-term demand momentum, supported by deals secured in previous quarters. Additionally, margin improvements are expected going forward.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.

Tech Mahindra Ltd - Results Inline Expectations; Outlook Improves

External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Tech Mahindra (TECHM) reported 1QFY25 revenue of USD1.5b, up 0.7%QoQ in CC vs. our estimate of 0.4% QoQ CC.</li><li>The weakness was primarily due to a continued slowdown in CME (down 2.0% QoQ).</li><li>Banking and Technology were flat QoQ, while Manufacturing showed continued strength with 2.4%QoQ growth. </li></ul>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.

Tech Mahindra (TECHM) reported 1QFY25 revenue of USD1.5b, up 0.7%QoQ in CC vs. our estimate of 0.4% QoQ CC.The weakness was primarily due to a continued slowdown in CME (down 2.0% QoQ).Banking and Technology were flat QoQ, while Manufacturing showed continued strength with 2.4%QoQ growth. 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.

Tech Mahindra - Light at the End of the Tunnel

External broker reports(aggregated public sources), Sharekhan

Sharekhan

Sharekhan is India's leading broking house providing services from easy online trading, research to wide array of financial products. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>The management has outlined a strategic plan over the next three years to enhance the company’s sustainability and predictability in terms of growth and profitability.</li><li>The company aims to achieve a turnaround in FY25, stabilize in FY26 and start reaping returns in FY27.</li><li>The company aims to achieve topline growth above peers in FY27 with an EBIT margin exceeding 15% while achieving $250 million in savings each year for the next three years. </li></ul>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.

The management has outlined a strategic plan over the next three years to enhance the company’s sustainability and predictability in terms of growth and profitability.The company aims to achieve a turnaround in FY25, stabilize in FY26 and start reaping returns in FY27.The company aims to achieve topline growth above peers in FY27 with an EBIT margin exceeding 15% while achieving $250 million in savings each year for the next three years. 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.

Tech Mahindra - Roadmap Engineered for Long Term Success: Upgrade to Buy

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

<ul>
<li>Under Mohit Joshi's leadership, <a href="https://www.smartkarma.com/entities/tech-mahindra-ltd" target="_blank" data-smartkarma-citation="entities:8064:1" rel="noopener">Tech Mahindra (TECHM IN)</a> targets a 15%+ EBIT margin and revenue growth surpassing industry averages by FY2027, with a focus on operational reform and portfolio integration.</li>
<li>Project Fortius aims to achieve $250 million annual cost savings over 3 years, emphasizing high-margin services and organic growth, signaling a departure from  reliance on traditional acquisitions.</li>
<li>This strategic shift towards operational efficiency and organic growth alters the company's outlook, positioning Tech Mahindra for sustainable growth and shareholder returns, underlining a commitment to long-term value creation.</li>
</ul>


Under Mohit Joshi's leadership, Tech Mahindra (TECHM IN) targets a 15%+ EBIT margin and revenue growth surpassing industry averages by FY2027, with a focus on operational reform and portfolio integration.
Project Fortius aims to achieve $250 million annual cost savings over 3 years, emphasizing high-margin services and organic growth, signaling a departure from  reliance on traditional acquisitions.
This strategic shift towards operational efficiency and organic growth alters the company's outlook, positioning Tech Mahindra for sustainable growth and shareholder returns, underlining a commitment to long-term value creation.


Mohit Joshi: The Man Behind Tech Mahindra's Strategic Shift

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Tech Mahindra’s (TECHM) print was less about Q4 (weak) and more about its medium-term direction</li><li>The medium-term goals are promising and the leadership changes as well as the rejig in org structure do add credibility to the plan, in our opinion</li><li>However, most of the margin tracks sound familiar to the interventions carried out in the past</li></ul>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.

Tech Mahindra’s (TECHM) print was less about Q4 (weak) and more about its medium-term directionThe medium-term goals are promising and the leadership changes as well as the rejig in org structure do add credibility to the plan, in our opinionHowever, most of the margin tracks sound familiar to the interventions carried out in the pastContent 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.

Tech Mahindra (Q4FY24): Work in progress. Maintain REDUCE

India

Tech Mahindra Ltd. develops and markets computer software.  The Company markets software for telecommunications equipment manufacturers, telecom service providers, software vendors, and systems integrators.

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Tech Mahindra (TECHM IN)

Tech Mahindra Ltd - Results Inline Expectations; Outlook Improves

Total Contract Value (TCV) remained strong in Q1FY25, amounting to $603 Mn, driven primarily by significant deal wins in the Communication and...

Axis Direct

Tech Mahindra - Light at the End of the Tunnel

Tech Mahindra (TECHM) reported 1QFY25 revenue of USD1.5b, up 0.7%QoQ in CC vs. our estimate of 0.4% QoQ CC. The weakness was primarily due to a...

Motilal Oswal

Tech Mahindra - Roadmap Engineered for Long Term Success: Upgrade to Buy

The management has outlined a strategic plan over the next three years to enhance the company’s sustainability and predictability in terms of...

Sharekhan

Mohit Joshi: The Man Behind Tech Mahindra's Strategic Shift

Tech Mahindra's strategic overhaul aims for robust growth and profitability by FY2027 through operational improvements and market strategies under...

Sudarshan Bhandari

Tech Mahindra (Q4FY24): Work in progress. Maintain REDUCE

The medium-term goals are promising and the leadership changes as well as the rejig in org structure do add credibility to the plan, in our opinion

HDFC Securities

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