External broker reports(aggregated public sources), Emkay Global Financial Services Limited

Emkay

External broker reports(aggregated public sources)

Emkay Global Financial Services Limited

Emkay Global Financial Services Ltd. is a leader in the financial services sector, actively creating wealth for our clients for over two decades. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Coforge reported an in-line set of results in Q1; revenue grew 1.6% QoQ (similar in cc terms), whereas adj. EBITDAM declined by 100bps to 17.9%. Growth ex-India was healthy at 3.7% QoQ cc.</li><li>BFS declined 3.9% QoQ, which the management attributed to a blip after 12 straight quarters of sequential growth, and should grow Q2 onward.</li><li>The mgmt expects robust growth ahead, aided by a healthy NTM executable order book (up 19.3% YoY), some rebound in demand, and strong headcount addition (billable headcount grew 7.7% QoQ).</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Coforge reported an in-line set of results in Q1; revenue grew 1.6% QoQ (similar in cc terms), whereas adj. EBITDAM declined by 100bps to 17.9%. Growth ex-India was healthy at 3.7% QoQ cc.BFS declined 3.9% QoQ, which the management attributed to a blip after 12 straight quarters of sequential growth, and should grow Q2 onward.The mgmt expects robust growth ahead, aided by a healthy NTM executable order book (up 19.3% YoY), some rebound in demand, and strong headcount addition (billable headcount grew 7.7% QoQ).Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Coforge - Steady Performance; One-Off Causes Profit Miss

External broker reports(aggregated public sources), Axis Direct

Axis Direct

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>In Q1FY25, Coforge Ltd. (Coforge) reported revenue of Rs 2,401 Cr, reflecting a 1.8% QoQ increase, and a 1.8% QoQ increase in constant currency terms, which was below expectations.</li><li>The company’s operating profit stood at Rs 409 Cr, down 3.8% QoQ due to higher operating expenses and acquisition-related costs.</li><li>Operating margins declined by 100bps to 17%, primarily due to increased operating expenses during the quarter. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

In Q1FY25, Coforge Ltd. (Coforge) reported revenue of Rs 2,401 Cr, reflecting a 1.8% QoQ increase, and a 1.8% QoQ increase in constant currency terms, which was below expectations.The company’s operating profit stood at Rs 409 Cr, down 3.8% QoQ due to higher operating expenses and acquisition-related costs.Operating margins declined by 100bps to 17%, primarily due to increased operating expenses during the quarter. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Coforge Ltd. - Results Below Expectations; Strong Outlook Continues

Thematic (Sector/Industry)

<ul><li>The IT Services sector is anticipated to exhibit moderated growth in Q1FY25, primarily due to weaker discretionary spending, driven by uncertainties in macroeconomic conditions and upcoming elections in the US.</li><li>However, non-discretionary spending is expected to see some improvement.</li><li>Many large enterprises are likely to prioritize cost optimizations, resulting in an increase in cost take-out deals, vendor consolidation, and reduced discretionary spending.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

The IT Services sector is anticipated to exhibit moderated growth in Q1FY25, primarily due to weaker discretionary spending, driven by uncertainties in macroeconomic conditions and upcoming elections in the US.However, non-discretionary spending is expected to see some improvement.Many large enterprises are likely to prioritize cost optimizations, resulting in an increase in cost take-out deals, vendor consolidation, and reduced discretionary spending.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

It Services Q1fy25 Result Preview – Moderated Growth; Recovery Expected

<ul><li>Accenture’s reported Q3FY24 results stood below street expectations on all financial and operational terms.</li><li>Revenue for the quarter stood at $16.5 Bn, registering a de-growth of 1% YoY (in US$ terms) but growth of 1.4% YoY in local currency.</li><li>It registered GAAP EPS of $3.04 for the quarter while adjusted EPS stood at $3.13, reporting 3% YoY de-growth. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Accenture’s reported Q3FY24 results stood below street expectations on all financial and operational terms.Revenue for the quarter stood at $16.5 Bn, registering a de-growth of 1% YoY (in US$ terms) but growth of 1.4% YoY in local currency.It registered GAAP EPS of $3.04 for the quarter while adjusted EPS stood at $3.13, reporting 3% YoY de-growth. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Sector Update: Accenture Q3 FY24 Result Update

<ul><li>In Q4FY24, Coforge Ltd. (Coforge) reported revenue of Rs 2,359 Cr, up 1.5% QoQ and 1.8% QoQ (in CC terms) which stood below expectations.</li><li>The company’s operating profit stood at Rs 425 Cr, up 5.9% QoQ due to moderated operating expenses.</li><li>Its operating margins improved by 75bps to 18%, which was largely led by moderated operating expenses and higher utilization during the quarter. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

In Q4FY24, Coforge Ltd. (Coforge) reported revenue of Rs 2,359 Cr, up 1.5% QoQ and 1.8% QoQ (in CC terms) which stood below expectations.The company’s operating profit stood at Rs 425 Cr, up 5.9% QoQ due to moderated operating expenses.Its operating margins improved by 75bps to 18%, which was largely led by moderated operating expenses and higher utilization during the quarter. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Coforge - Results Below Expectations; Strong Outlook Continues

India

Coforge Limited provides information technology services. The Company serves customers in India.

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Coforge (COFORGE IN)

Coforge - Steady Performance; One-Off Causes Profit Miss

Coforge reported an in-line set of results in Q1; revenue grew 1.6% QoQ (similar in cc terms), whereas adj. EBITDAM declined by 100bps to 17.9%....

Emkay

Coforge Ltd. - Results Below Expectations; Strong Outlook Continues

Net profit for Q1FY25 was Rs 229 Cr, marking a 2.1% QoQ decrease, attributed to transaction costs incurred during the quarter.

Axis Direct

It Services Q1fy25 Result Preview – Moderated Growth; Recovery Expected

Many large enterprises are likely to prioritize cost optimizations, resulting in an increase in cost take-out deals, vendor consolidation, and...

Axis Direct

Sector Update: Accenture Q3 FY24 Result Update

Accenture’s reported Q3FY24 results stood below street expectations on all financial and operational terms. Revenue for the quarter stood at $16.5 Bn

Axis Direct

Coforge - Results Below Expectations; Strong Outlook Continues

In Q4FY24, Coforge Ltd. (Coforge) reported revenue of Rs 2,359 Cr, up 1.5% QoQ and 1.8% QoQ (in CC terms) which stood below expectations.

Axis Direct

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