Sharekhan Research Report on Elxsi Tata
Q4FY22 is a quarter of a strong revenue growth led by ramp-up of transactions, while margins are in line with expectations; Quarter see healthy clean recruitment, the intake of a strong agreement across vertically, expansion to new geography and good client mining. Companies entered new geography such as the Middle East, Africa and Latin America, where he saw the addition of strong customers, especially in the media segment. TEL is well placed to give one more year strong growth in the FY2023E, given the intake of strong orders, traction for great conversation and increased expenditure in digital engineering.
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We maintain purchases at TATA ELOXSI LIMITED (TEL) with PT Revised RS. 9,000, given the benefits of its market share, superior margin profiles, and attendance in the ERD market that grows rapidly. We expect USD revenue / revenue to report 23% / 20% CAGR through FY2022-FY2024E.