KPIT Cummins Infosystems Ltd (Q3 FY08): "Walking on a tight rope" - SELL


KPIT Cummins Infosystems Ltd (Q3 FY08): "Walking on a tight rope"

CMP Rs107,  SELL


ä       Dollar revenue growth of 4.3% qoq was below expectations; hit by sharp decline in onsite pricing.

ä        Strong growth witnessed in niche offerings of ATS and GBS and amongst non-Cummins star customers especially outside Top 10.

ä       EBITDA margin and net profit were flat qoq further deteriorating the performance.               

ä        Despite a dull Q3 FY08, company maintains annual FY08 profit guidance – which we feel would be extremely difficult to achieve.

ä        The actual non-achievement of guidance could be a further dampener on the stock price and would seriously impact management credibility - maintain negative stance.


Click below for Result Update on Great Offshore Ltd (Q2 FY08)



Warm Regards,


India Infoline Research Team.



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