ICICI Direct's research report on Coforge
Coforge offers system integration, apps & BPO services to BFSI, travel & healthcare verticals. Revenues grew at 18.1% CAGR in the past five years • Healthy OCF, EBITDA (~75%) and robust return ratios (RoCE > 20%).
Outlook
We revise our rating on the stock from HOLD to BUY. We value Coforge at Rs 4370 i.e. 25x P/E on FY24E EPS.
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