Satyam Computer Services Ltd (Q4 FY08) – “Strong quarter and guidance”




Satyam Computer Services Ltd (Q4 FY08) – "Strong quarter and guidance"

CMP Rs459, Market Performer

Target price Rs457,  Downside 0.4%

 

ä       Sector-leading revenue growth continues with 10% qoq growth in Q4 FY08

ä       EBITDA margin improve by 130 bps qoq driven by higher utilization, improved pricing, offshore shift and break-even in BPO

ä       Lower other income due to forex losses restricts net profit growth to 7.7% qoq

ä       Q1 FY09 guidance strong for EPS growth but modest on revenue growth

ä       FY09 guidance above expectations; but still room for outperformance

ä       Remain positive (relative to the sector) on Satyam with a target price of Rs457

 

Click below for the quarterly update of Satyam Computer Services Ltd.

http://www.indiainfoline.com/content/rep/Result_Analysis/2008/4/2242008/satyamcomp_0408.pdf

 

 

 

Warm Regards,

 

India Infoline Research Team


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