*Infosys Ltd.* | *CMP* Rs. 1576 | *M Cap* Rs. 671581 Cr | *52 W H/L* 1591/781
(Nirmal Bang Retail Research)
*Revenue guidance for FY22 revised to 14%-16% vs previous guidance of 12%-14%. Margin guidance retained at 22%-24%*
*Result ahead of expectation*
TCV($ MN) came at $ 2570 Mn vs QoQ $ 2111 Mn, YoY $ 1744 Mn
Revenue growth in CC terms QoQ came at 4.8% vs expectation of 4%, QoQ 2%, YoY -2%
Dollar revenue came at $ 3782 Mn,(4.7% QoQ, 21.2% YoY) vs expectation of $ 3756.3 Mn, QoQ $ 3613 Mn, YoY $ 3121 Mn
Net sales came at Rs. 27896 Cr (6% QoQ, 17.9% YoY) vs expectation of Rs. 27655 Cr, QoQ Rs. 26311 Cr, YoY Rs. 23665 Cr
EBIT came at Rs. 6554 Cr (2.6% QoQ, 23.3% YoY) vs expectation of Rs. 6764.4 Cr, QoQ Rs. 6390 Cr, YoY Rs. 5317 Cr
EBIT Margin came at 23.5% vs expectation of 24.5%, QoQ 24.3%, YoY 22.5%
Adj. PAT came at Rs. 5195 Cr vs expectation of Rs. 5378 Cr, QoQ Rs. 5076 Cr, YoY Rs. 4233 Cr
Quarter EPS is Rs. 12.2
Stock is trading at P/E of 26.4x FY23E EPS
(Nirmal Bang Retail Research)
*Revenue guidance for FY22 revised to 14%-16% vs previous guidance of 12%-14%. Margin guidance retained at 22%-24%*
*Result ahead of expectation*
TCV($ MN) came at $ 2570 Mn vs QoQ $ 2111 Mn, YoY $ 1744 Mn
Revenue growth in CC terms QoQ came at 4.8% vs expectation of 4%, QoQ 2%, YoY -2%
Dollar revenue came at $ 3782 Mn,(4.7% QoQ, 21.2% YoY) vs expectation of $ 3756.3 Mn, QoQ $ 3613 Mn, YoY $ 3121 Mn
Net sales came at Rs. 27896 Cr (6% QoQ, 17.9% YoY) vs expectation of Rs. 27655 Cr, QoQ Rs. 26311 Cr, YoY Rs. 23665 Cr
EBIT came at Rs. 6554 Cr (2.6% QoQ, 23.3% YoY) vs expectation of Rs. 6764.4 Cr, QoQ Rs. 6390 Cr, YoY Rs. 5317 Cr
EBIT Margin came at 23.5% vs expectation of 24.5%, QoQ 24.3%, YoY 22.5%
Adj. PAT came at Rs. 5195 Cr vs expectation of Rs. 5378 Cr, QoQ Rs. 5076 Cr, YoY Rs. 4233 Cr
Quarter EPS is Rs. 12.2
Stock is trading at P/E of 26.4x FY23E EPS
CABINET
EXTEND REBATE OF TAXES & LEVIES ON APPAREL EXPORTS TILL MARCH 2024
WILL BE AT THE SAME RATE AS NOTIFIED BY TEXTILE MINISTER IN MARCH 2019
REBATE ON EXPORTS OF APPAREAL GARMENTS & MADE UPS APPLICABLE TILL MARCH 2024
EXTEND REBATE OF TAXES & LEVIES ON APPAREL EXPORTS TILL MARCH 2024
WILL BE AT THE SAME RATE AS NOTIFIED BY TEXTILE MINISTER IN MARCH 2019
REBATE ON EXPORTS OF APPAREAL GARMENTS & MADE UPS APPLICABLE TILL MARCH 2024
STAFF-MR. CHETAN KEDIA: INDIA GOVT OFFICIAL: MINISTERIAL PANEL LIKELY TO MEET THIS WEEK TO DISCUSS ASSET MONETISATION OF BEML, MTNL
STAFF-MR. CHETAN KEDIA: INDIA GOVT OFFICIAL: GOVT PANEL LIKELY TO DECIDE MONETISING BEML’S SURPLUS LAND IN MUMBAI, OTHER CITIES || PANEL ALSO LIKELY TO DISCUSS SELLING REAL ESTATE, LAND OF MTNL IN NOIDA, DELHI
STAFF-MR. CHETAN KEDIA: INDIA GOVT OFFICIAL: GOVT PANEL LIKELY TO DECIDE MONETISING BEML’S SURPLUS LAND IN MUMBAI, OTHER CITIES || PANEL ALSO LIKELY TO DISCUSS SELLING REAL ESTATE, LAND OF MTNL IN NOIDA, DELHI
GOVT SOURCES: GOVT HAS CHANGED ITS MIND FOR ANNOUNCING A PLI SCHEME FOR THE STEEL SECTOR, AND WILL NOT UNVEIL ONE FOR NOW. IT’S PRIORITIES NOW ARE LEATHER, TEXTILES & GARMENTS - ETNOW
MAHANAGAR GAS: CNG HIKED BY 2.60 RUPEES IN MUMBAI AND COOKING GAS BY 60 PAISA
KARDA CONSTRUCTION: CO BOARD HAVE CONSIDERED AND APPROVED BONUS AT THE RATIO OF 4 : 1
CEAT: CO TO SUPPLY TYRES FOR M&M'S NEW SEVEN-SEATER BOLERO NEO - PTI
CEAT: CO TO SUPPLY TYRES FOR M&M'S NEW SEVEN-SEATER BOLERO NEO - PTI
INDIA(JUN) WPI INFLATION (YOY) ACTUAL: 12.07% VS 12.94% PREVIOUS; EST 12.18%