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Entry Price

264.00

Target

310.00

Recommend Date

08-02-2021

Return

17.42 %
BUY

Date : 08-02-2021

Birlasoft Ltd’s (Birlasoft) dollar revenues increased 3.3% QoQ (up 2.3% YoY) to US$119.5 million, mainly led by healthy growth across verticals. The manufacturing vertical increased 2.9% QoQ, BFSI up 3.4% QoQ, lifescience up 5.1% QoQ. EBITDA margin increased 247 QoQ (up 350 bps YoY) to 16.4% mainly led by higher utilisation & SG&A rationalisation. PAT increased 39.4% QoQ (up 32.6% YoY) mainly led by higher operating margins and lower tax rate. The company has migrated to the new tax regime in the current quarter. Deal wins were at US$109 million (book to bill of 0.9x).