Some notes from Jan 23 concall –
- Margins were lower QoQ because of expansion in foreign markets. Have hired people (increase in sales cost) but expect sales to follow in 6-9 months. FY24 margings can also be muted for same reason – impact 1-2% lower
- 3 products under developments. One of them is 95% completed and other 2 would be launched in FY24Q1
- Pricing pressure on trust business upto 35%. This was offset by SSL growth. Overall, flattish.
- Continues to be bullish on enterprise business – expect revenue growth of 35-40%
- USP in comparison to docusign/abode is eMudhara is identify based. So, plays in these sectors like BFSI, Pharma and Insurance
Technically, charts look weak. At a PE of 33 and market cap < 2000 Cr, this still looks expensive. Thoughts?
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