*Tech Mahindra Ltd.* | *CMP* Rs. 773 | *M Cap* Rs. 76014 Cr | *52 W H/L* 847/607
(Nirmal Bang Retail Research)
*Result above expectation*
CC QoQ came at 4.1% vs expectation of 2.2%, QoQ -1%, YoY 0.4%
Dollar revenue came at $ 1287.2 Mn vs expectation of $ 1264.4 Mn, QoQ $ 1247.1 Mn, YoY $ 1218.2 Mn
Net sales came at Rs. 9069.9 Cr (4.8% QoQ, 5.1% YoY) vs expectation of Rs. 8918.4 Cr, QoQ Rs. 8653 Cr, YoY Rs. 8629.9 Cr
EBIT came at Rs. 1159.4 Cr (16.8% QoQ, -12.4% YoY) vs expectation of Rs. 1088.4 Cr, QoQ Rs. 992.8 Cr, YoY Rs. 1324.3 Cr
EBIT Margin came at 12.8% vs expectation of 12.2%, QoQ 11.5%, YoY 15.3%
Adj. PAT came at Rs. 1123.9 Cr vs expectation of Rs. 940.4 Cr, QoQ Rs. 959.3 Cr, YoY Rs. 1064.3 Cr
Quarter EPS is Rs. 11.4
Stock is trading at P/E of 16.1x FY20E EPS