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

Motilal Oswal

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

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External broker reports(aggregated public sources)

Equity Bottom-Up

<p>MPHL's 2QFY22 performance was led by a 9.9% CC QoQ growth in the Direct business, while the DXC vertical (6% of revenue) again declined (-24.5% QoQ CC). EBIT margin adjusted for one-time M&amp;A; charge remained stable (-10bp QoQ). It reported a net new deal TCV of USD241m in 2QFY22. With the management reiterating its industry-leading growth guidance in the Direct business, the standout growth in Direct should continue (34% YoY in FY22E). We see a strong new-gen deal pipeline (+13% QoQ/28% YoY) as a testimony to the strength of the demand environment.</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>

MPHL's 2QFY22 performance was led by a 9.9% CC QoQ growth in the Direct business, while the DXC vertical (6% of revenue) again declined (-24.5% QoQ CC). EBIT margin adjusted for one-time M&amp;A; charge remained stable (-10bp QoQ). It reported a net new deal TCV of USD241m in 2QFY22. With the management reiterating its industry-leading growth guidance in the Direct business, the standout growth in Direct should continue (34% YoY in FY22E). We see a strong new-gen deal pipeline (+13% QoQ/28% YoY) as a testimony to the strength of the demand environment.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.

Growth convergence with the Direct business to aid valuation

Mphasis Ltd

Growth convergence with the Direct business to aid valuation