2025-03-30 11:09:14 am | Source: Motilal Oswal Financial Services Ltd
Buy Coforge Ltd For Target Rs. 11,000 by Motilal Oswal Financial Services Ltd
* Revenue growth is expected to be ~3.0% QoQ CC, supported by robust organic growth and reversal of furloughs impact.
* We expect 80bp expansion in reported EBITDA margin. EBIT margin should rise to 12.9% due to lower merger expenses, though ESOP costs in 4Q will weigh on margins.
* Deal momentum is expected to stay robust, supported by a healthy pipeline in both BFS and Insurance verticals.
*Key things to watch out for: further benefits from Cigniti’s cross-selling and deal TCV in BFS and Insurance (~48.5% of revenue).
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