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Entry Price

1,194.00

Target

1,310.00

Recommend Date

03-02-2021

Return

9.72 %
BUY

Date : 03-02-2021

Mastek’s revenues increased 7.3% QoQ (in CC terms) and by 9.1% QoQ (in reported terms) to US$60.1 million. The increase in revenues was led by Evosys acquisition (up 10.5% QoQ) and 8.3% QoQ growth in organic revenues. EBIT margin expansion of 253 bps QoQ to 20.8% was mainly led by 40 bps expansion in gross margins and rationalisation of SG&A expenses. Mastek’s 12-month order book was flat QoQ to US$129.6 million. Mastek has reduced debt by US$1.2 million (~| 9 crore).