ECONOMY

Coforge Q4 Review – Strong Performance, Robust Guidance: ICICI Direct

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Coforge Ltd. reported healthy revenue growth, up 5.1% QoQ in constant currency terms, above our estimate of 3.0% QoQ growth.

The revenue growth was led by insurance (up 3.9% QoQ), others (up 17.9% QoQ) and banking and financial services (up 1.3% QoQ).

The company declared a dividend of Rs 13 per share.

The company has guided for organic revenue growth of 17% in constant currency terms (highest in our coverage universe) in FY22E and Ebitda margin (excluding employee stock ownership plan and acquisition related costs) expansion of 1% to 19% in FY22E.

Click on the attachment to read the full report:

ICICI Direct Coforge Q4FY21 Result Update.pdf

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