Mastek Ltd Research Report By ICICI-Direct

Tagged: ICICI-Direct, Mastek Ltd

This topic has 0 replies, 1 voice, and was last updated 9 years, 11 months ago by Vidhi Khanna.

Viewing 1 post (of 1 total)

Author

Posts
December 26, 2014 at 8:50 pm #1473

Vidhi Khanna
Keymaster

Raising fair price; thesis obligated by execution and earnings delivery…

We believe the insurance business post Agile acquisition and Cover-All merger could be a formidable player in the mid-market segment. Further, value creation in the insurance business is getting real with Majesco’s US listing. We believe the combined insurance business could be valued at 2.5x on Mcap/pro-forma sales metric (25% hold-co discount, 1.5-2x earlier) given deeper market expertise and cross-selling opportunities within the acquired clients while the services business could be valued at 3.5x trailing pro-forma EV/EBITDA. This translates to a fair value of Rs. 600.

Download IDirect Mastek Co Update Dec14
Author

Posts

Viewing 1 post (of 1 total)

You must be logged in to reply to this topic.