22 November 2023
The total income grew at a CAGR of 36.16% over FY21-23. and grew about 33.84% H1FY24 YOY. The company operated on an EBITDA Margin of 18.6% for FY23 and 18.39% for H1FY24. The PAT margin stood at 14.14% for FY23 and 13.93% for H1FY24. The company generated a RONW of 20.87% for FY23 and 12.33% (not annualized) for H1FY24. The issue is priced at a P/BV of 7.12 based on its NAV of Rs. 70.27 as of September 30, 2023. The company is asking for a PE of 32.53x on the upper end of the price band, and a PE of 28.84x annualizing H1FY24 EPS (₹ 8.67). The listed peers like KPIT Technologies trading at a P/E of 80.3x (Highest) L&T Technology is trading at a P/E of 37.5x (Lowest) and the industry average P/E is 59.7x. Keeping in mind the favorable and unfavorable factors, the investor can look at long-term investment in this techno giant.