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Mastek Ltd share Price Today

Company details

2,470.80
2,519.00
1,890.00
3,145.00
6M Return 5.37%
1Y Return 23.73%
Mkt Cap.(Cr) 7,715.32
Volume 22,623
Div Yield 0.76%
OI
-
OI Chg %
-
Volume 22,623

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Software & Services company Mastek announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

  • Revenue from operations: Rs 779.7 crore, up 9.9% YoY.
  • Operating EBITDA margin: 16.0%
  • Net Profit Margin: 12.0%, improved by 178 basis points YoY.
  • New clients added: 22
  • Total active clients: 430

FY24 Financial Highlights:

  • Total revenue from operations: Rs 3,054.8 crore, up 19.2% YoY.
  • Attrition rate (last twelve months): 20.5%
  • Total employee count (as of March 31, 2024): 5,539; Offshore employee count (based in India): 3,892
  • The 12-month order backlog showed a significant QoQ growth of 4.9% in rupee terms and stood at Rs 2,168.4 crore (USD 260.0 million). 
  • Mastek's Board of Directors proposed a final dividend of 240%, which translates to Rs 12 per share.

Commenting on the FY24 results, Hiral Chandrana, Chief Executive Officer, Mastek, said: "Q4FY24 revenue was below our expectations at USD 93.7mn, a marginal decline of 0.3% QoQ in dollar terms due to offshore movement of a large program, and impact of 2 clients in the US. However, we had our highest ever order book (OB) with some marquee annuity deal wins in US this quarter. FY24 was a transformational year for us, we are pleased to have delivered revenue growth of 15.8% YoY in dollar terms on a full year basis, with disciplined execution across all geographies. The demand for our Digital Engineering, Cloud and Data/Al services remains strong as reflected in our 12 month order backlog which grew 19.1% Y-o-Y in dollar terms and we are well-positioned to deliver robust growth in FY25."

Arun Agarwal, Chief Financial Officer, Mastek, said: "We reported Q4FY24 revenue of Rs 779.7 crore, a marginal decline of 0.6% Q-o-Q basis in Rs terms. However, we are confident to deliver industry-leading growth in FY25, with strong 12 month order backlog which stood at USD 260.0mn, reflecting a growth of 4.6% QoQ in dollar terms. Our operating cash flow consistently improved during the year with closing cash & cash equivalent standing at Rs 473.3 crore. In FY24, we delivered an operating EBITDA growth of 11.6% on YoY. While macro uncertainties and customer delays prevail, growth in our pipeline, key lead indicators, and strategic priorities positions us well to continue our growth journey in the coming quarters and years."

Result PDF

View Other Company Results

Mastek Ltd shares SWOT Analysis

Strengths (8)

  • Rising Net Cash Flow and Cash from Operating activity
  • Growth in Net Profit with increasing Profit Margin (QoQ)
  • Growth in Quarterly Net Profit with increasing Profit Margin (YoY)

Weakness (4)

  • Inefficient use of capital to generate profits - RoCE declining in the last 2 years
  • Inefficient use of shareholder funds - ROE declining in the last 2 years
  • Inefficient use of assets to generate profits - ROA declining in the last 2 years

Opportunity (1)

  • Street Favorite: High Analyst Rating with at least 20% upside

Threats (2)

  • Promoter decreasing their shareholding
  • Increasing Trend in Non-Core Income

Resistance and support

R1 2,523.3
R2 2,545.3
R3 2,571.5
Pivot

2,497.07

S1 2,475.1
S2 2,448.9
S3 2,426.9
EMA SMA
2,506.8
2,586.0
2,611.3
2,512.1
2,488.7
2,583.3
2,724.2
2,542.8
Delivery and volume
CLIENT NAME DEAL TYPE ACTION DATE AVG. PRICE QUANTITY EXCHANGE
GRAVITON RESEARCH CAPITAL LLP Bulk Purchase 2023-04-20 1767.17 424081 NSE
NK SECURITIES RESEARCH PRIVATE LIMITED Bulk Purchase 2023-04-20 1771.06 320955 NSE
QE SECURITIES Bulk Purchase 2023-04-20 1773.05 216931 NSE
Name Category Shares
Ashank Desai PROMOTER 10.97%
Girija Ram PROMOTER 5.68%
Padma Desai PROMOTER 0.77%
Girija Sudhakar Ram PROMOTER 3.24%
KETAN MEHTA PROMOTER 7.28%
SUNDAR RADHAKRISHNAN PROMOTER 4.35%
RUPA KETAN MEHTA PROMOTER 1.56%
USHA SUNDAR PROMOTER 1.49%

OUR RESEARCH VIEW

Investment recommendation
Acquisitions aids to diversify & expand business…
Call Date
16 Feb 2024
Entry Price 2,863.00
Target Price 3,500.00
Duration
12-18 Month

FINANCIALS

Sales
Operating Profit
Profit after Tax
Equity
Reserves and Surplus
Debt
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Profit after Tax
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Debt/Equity
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Mastek Ltd Stocks COMPARISON

Financials( in Cr) Mastek Ltd Tata Consultancy Services Ltd Infosys Ltd HCL Technologies Ltd Wipro Ltd
Price 2,501.40 3,839.90 1,467.05 1,358.40 456.05
% Change 0.04 -0.19 -0.29 0.38 0.80
Mcap Cr 7,715.32 1,389,309.61 608,952.94 368,624.25 238,292.42
Revenue TTM Cr 2,563.39 240,893.00 153,670.00 101,456.00 90,487.60
Net Profit TTM Cr 310.27 46,099.00 26,248.00 14,845.00 11,366.50
PE TTM 25.46 29.81 23.38 23.47 21.58
1 Year Return 23.73 15.65 11.61 20.62 14.07
ROCE 22.98 62.85 44.74 27.62 17.11
ROE 22.53 51.04 37.12 23.32 15.89
INSIDER & INSTITUTIONAL ACTIVITY

Equity Capital: 1,683.41 Cr FV: 5.00

Period MF Net Purchase / (sold) FII Net
LAST 1M 39,096.78 -22,281.88
LAST 3M 109,317.46 -33,313.91
LAST 6M 173,877.04 36,325.60
LAST 12M 271,641.54 124,224.97
Mastek Limited - Other General Purpose

May 27, 2024 l NSE Announcement

Mastek Limited - Allotment of Securities

May 24, 2024 l NSE Announcement

Mastek Limited - Scheme of Arrangement

May 22, 2024 l NSE Announcement

Date Action Type Ratio
Jan 25, 2024 Dividend 140
Sep 18, 2023 Dividend 240
Feb 01, 2023 Dividend 140

Mastek Ltd Information

Stock PE (TTM)
25.46
Promoter Holding
36.26%
Book Value
680.8062
ROCE
22.98%
ROE
22.53%
Description
  • Mastek Limited is a trusted and Turnkey Digital Engineering and Cloud Transformation Partner that delivers innovative solutions and business outcomes for clients across industry verticals including Healthcare and Life Sciences, Retail, Manufacturing, Financial Services and Government/ Public Sector. The Company enable customer success and business change programmes by partnering with enterprises to unlock the power of data, modernize applications to cloud, and accelerate digital advantage for all stakeholders. Mastek Limited was incorporated on 14th May 1982, with its principal offshore delivery facility based at Mumbai, India; Mastek operates across the US, Europe, Japan and Asia Pacific regions, also has been at the forefront of technology, which along with proven methodologies and processes, increase IT value generation to its customers through onsite and offshore deliveries. Mastek was the first Company in India to create software products during the year 1985. In 1989, the company had introduced Relational Database Management System (RDBMS) in India; it was the first of its kind. To work additionally, a subsidiary company in Singapore was established in the year 1990. Mastek was the first company developed Enterprise Resource Planning in India during the year 1992 and in the same year, the Mastek USA was founded. One more subsidiary company was incorporated under the company`s control in Malaysia during the year 1994. The Company made its footprint in UK and also formed a subsidiary in Germany in the year 1996 and 1999 respectively. Mastek assessed at People Capability Maturity Model (P-CMM) Level 3 in the year 2000. In the year 2002, the company`s state-of-the-art campus was launched in Millennium Park at New Bombay. One of the world`s largest Dot Net project London Congestion Charging of the company was goes live in the year 2003. Also in the same year, Mastek awarded the `Best Solution developed on .NET by an Indian SI`. During the year 2005, the company had signed the memorandum of agreement to acquire 15.5 acres of land at Mahindra City in Chennai. Mastek group`s first development centre outside Maharashtra, India, Launched its largest development centre outside Mumbai in Pune in the identical year of 2005. Mastek had attained the position, among top 15 Indian IT companies as per NASSCOM survey in the year 2006. In the year 2007, the company`s launched its development centre at Chennai and also a new building was commissioned at Millennium Park campus at New Bombay. In July of the year 2007, Mastek had acquired insurance-focused IT Company Vector Insurance Services. During the same year of 2007, Mastek credited as the first to ride the third wave of Indian IT and obtained Level 3 of CMMI version 1.2. Mastek had ranked in the top 50 global outsourcing providers in The Black Book of Outsourcing published by the Brown-Wilson Group of the year 2007. The Company had acquired Systems Task Group (STG) International Ltd in March 2008, an IP-based enterprise solutions provider to the North American property and casualty (P&C) insurance industry. The Company has been ranked among the "Top 20" among the leaders of "Global Outsourcing 100 Companies 2008" by the International Association of Outsourcing Professionals, published in Fortune magazine in May of the year 2008. In July of the year 2008, Mastek had revised its agreement with Capita Life & Pensions to expand its licence and service arrangement for the Elixir software to support the customer base of Capita`s growing, market leading Business Process Outsource (BPO) operations in the UK Life & Pensions market. In FY 2011-12, Hon`ble Bombay High Court vide its Order dated December 2, 2011 and Gujarat High Court vide Order dated July 7, 2011 had approved Merger of Keystone Solutions India Private Limited, a step down subsidiary with the Company, being appointed date of the Merger Scheme, July 01, 2011. The Board of Directors of the Company in their meeting held on 15 September 2014, had approved demerger of Insurance Products and Services business of the Company, into a new Company, Minefields Computer Limited to be renamed as Majesco Limited, to be followed by transfer of Majesco India of the Offshore Insurance Operations business in India to Majesco Software and Solutions India Private Limited (MSSIPL). During the year 2014-15, Company sold its entire shareholding in Mastek Asia Pacific Pte. Ltd. to Majesco Sdn. Bhd, Malaysia for a consideration of SGD 380,000 and consequently, Mastek Asia Pacific Pte. Ltd. ceased to be a Subsidiary of the Company effective, October 31, 2015. The Company increased 37 new clients during the year, totaling up to 157 clients for the FY 2018-2019. It had 2 direct wholly owned subsidiaries and 4 step down subsidiaries as at 31 March, 2019. During the year 2019-2020, TAIS Tech LLC has been merged with Trans American Information Systems Inc. USA, step down subsidiary of the Company. Accordingly, TAIS Tech LLC now cease to exist effective December 31, 2019. Further, on April 30, 2020 a new entity i.e. Mastek Digital Inc. at Canada has been incorporated as wholly owned subsidiary of Mastek Inc. On February 8, 2020, Company acquired Evolutionary Systems Private Limited (Evosys), a leading Oracle Cloud implementation and consultancy company, that has served more than 1,000 Oracle Cloud customers. It expanded customer base to 30. As on March 31, 2020, Company has 20 Subsidiary Companies, which increased due to acquisition of Evosys Group Companies. As on March 31, 2021, the Company had 21 Subsidiary Companies. During the year 2021, Company increased 10 non-retail customers to support them in their digital transformation journey. It formed alliances and partnerships which opened up opportunities. It expanded base to Canada, enabling to serve Canadian customers while expanding the talent work force. During the year 2022, Company launched Cloud Enhancement Service (CES) offerings providing significant ROI to its customers. It secured the first deal for Canadian entity with a leading Healthcare service provider. It secured largest co-sell deal encompassing front-to-back-office transformation through their Oracle and Salesforce solutions (Acosta). It opened a new office in Bucuresti, Romania which will help strengthen our footprints in the European market and serve as a foundational step towards opening more nearshore delivery centres, closer to the UK market. During the year 2022-23, the Company acquired MST Solutions, i.e., MetaSoftTech Solutions LLC, US entity and Meta Soft Tech Systems Private Limited, Indian entity, a Salesforce consulting firm, in July 2022, which later on became the subsidiaries of the Company. It launched an Innovation Hub in Arizona that provides services such as Oracle, Salesforce, ServiceNow.

Registered Address

804/805 President House, Opp C N Vidyalaya, Ahmedabad, Gujarat, 380006

Tel : 91-79-26564337
Email : dinesh.kalani:mastek.com; investor_grievances:mast
Website : http://www.mastek.com
Registrar

Sharepro Services India P Ltd

AGM Date (Month) : Oct
Face Value Equity Shares : 5
Market Lot Equity Shares : 1
BSE Code : 523704
NSE Code : MASTEK
Book Closure Date (Month) : Sep
BSE Group : A
ISIN : INE759A01021

FAQ’s on Mastek Ltd Shares

You can buy Mastek Ltd shares through a brokerage firm. ICICIdirect is a registered broker through which you can place orders to buy Mastek Ltd Share.

Company share prices and volatile and keep changing according to the market conditions. As of May 28, 2024 03:43 PM the closing price of Mastek Ltd was Rs.2,501.40.

Market capitalization or market cap is determined by multiplying the current market price of a company�s shares with the total number of shares outstanding. As of May 28, 2024 03:43 PM, the market cap of Mastek Ltd stood at Rs. 7,715.32.

The latest PE ratio of Mastek Ltd as of May 28, 2024 03:43 PM is 25.46

The latest PB ratio of Mastek Ltd as of May 28, 2024 03:43 PM is 0.27

The 52-week high of Mastek Ltd share price is Rs. 3,145.00 while the 52-week low is Rs. 1,890.00

According to analyst recommendations, Mastek Ltd Share has a "Buy" rating for the long term.

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