ICICI Direct's research report on Mphasis
Mphasis Ltd (Mphasis) offers application services, BPO and infrastructure services, BFSI, technology, communication & logistic services. The company’s direct revenue increased 35.7% YoY on a reported basis and 34.4% in CC terms in FY22 • OCF, EBITDA of 75% and double digit return ratio (with RoCE of 20%).
Outlook
We change our rating on the stock from BUY to HOLD. We value Mphasis at Rs 2210 i.e. 20x P/E on FY25E EPS.
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