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. 

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External broker reports(aggregated public sources)

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.

Equity Bottom-Up

<ul><li>Mastek organic growth is set to recover to double digits, followed by an expansion in margins to the high teens</li><li>Mastek delivered a five-year average organic YoY CC revenue growth of ~10%, which slowed down to ~7% in FY24, we expect the organic growth to revive to low teens over FY24-27E</li><li>The growth will be triggered by (1) revival in UK geography, which is ~60% of the revenue and is witnessing traction in both UK government and UK private segment, (2) increase in UK government’s digital spends in areas like defence and healthcare, (3) early signs of recovery in the NHS(the company expects to win net new deals), (4) incremental revenue from the defence deal which will add ~USD 50-60mn over the next three years, (5) revival in the US and growth will be led by more managed services deals, revival of client-specific issues, and investments in areas like Oracle, Salesforce, and Data services, and (6) a strong 12-month order book of USD 262mn (+11% YoY).</li></ul><p><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></p>

Mastek organic growth is set to recover to double digits, followed by an expansion in margins to the high teensMastek delivered a five-year average organic YoY CC revenue growth of ~10%, which slowed down to ~7% in FY24, we expect the organic growth to revive to low teens over FY24-27EThe growth will be triggered by (1) revival in UK geography, which is ~60% of the revenue and is witnessing traction in both UK government and UK private segment, (2) increase in UK government’s digital spends in areas like defence and healthcare, (3) early signs of recovery in the NHS(the company expects to win net new deals), (4) incremental revenue from the defence deal which will add ~USD 50-60mn over the next three years, (5) revival in the US and growth will be led by more managed services deals, revival of client-specific issues, and investments in areas like Oracle, Salesforce, and Data services, and (6) a strong 12-month order book of USD 262mn (+11% YoY).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

Mastek: Recovery in sight. Maintain ADD