Financials Mastek Limited

Equities

MASTEK

INE759A01021

IT Services & Consulting

Market Closed - NSE India S.E. 07:43:48 2024-04-26 am EDT 5-day change 1st Jan Change
2,777 INR +1.50% Intraday chart for Mastek Limited +2.87% -1.44%

Valuation

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 10,631 4,609 30,775 99,714 47,039 85,659 - -
Enterprise Value (EV) 1 10,631 4,609 30,775 99,714 48,988 84,830 82,332 79,199
P/E ratio 11 x 4.42 x 14.9 x 32 x 16.1 x 30.1 x 23 x 18.4 x
Yield 1.92% 4.22% 1.19% 0.57% 1.23% 0.93% 1.15% 1.38%
Capitalization / Revenue 1 x 0.43 x 1.79 x 4.57 x 1.84 x 2.81 x 2.44 x 2.11 x
EV / Revenue 1 x 0.43 x 1.79 x 4.57 x 1.91 x 2.78 x 2.34 x 1.95 x
EV / EBITDA 8.08 x 2.97 x 8.44 x 21.6 x 10.7 x 16.3 x 13.1 x 10.4 x
EV / FCF 17.7 x 2.75 x 11.2 x 42.1 x 64.8 x 29.7 x 24.2 x 20.4 x
FCF Yield 5.67% 36.4% 8.95% 2.37% 1.54% 3.37% 4.13% 4.89%
Price to Book 1.48 x 0.58 x 3.58 x 9.31 x 2.79 x 4.52 x 3.91 x 3.33 x
Nbr of stocks (in thousands) 23,973 24,289 25,233 30,018 30,525 30,844 - -
Reference price 2 443.4 189.8 1,220 3,322 1,541 2,777 2,777 2,777
Announcement Date 4/16/19 6/14/20 4/28/21 4/20/22 4/19/23 - - -
1INR in Million2INR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 10,580 10,715 17,219 21,838 25,634 30,519 35,112 40,673
EBITDA 1 1,315 1,554 3,645 4,625 4,558 5,200 6,302 7,612
EBIT 1 - 1,305 3,195 4,196 3,885 4,386 5,502 6,678
Operating Margin - 12.18% 18.56% 19.22% 15.15% 14.37% 15.67% 16.42%
Earnings before Tax (EBT) 1 1,334 1,441 3,393 4,480 4,274 3,968 5,163 6,459
Net income 1 1,015 1,089 2,094 2,951 2,930 2,866 3,745 4,691
Net margin 9.59% 10.16% 12.16% 13.51% 11.43% 9.39% 10.66% 11.53%
EPS 2 40.32 42.93 81.88 103.8 95.53 92.27 120.6 151.1
Free Cash Flow 1 602.3 1,678 2,754 2,367 755.7 2,856 3,402 3,876
FCF margin 5.69% 15.67% 15.99% 10.84% 2.95% 9.36% 9.69% 9.53%
FCF Conversion (EBITDA) 45.8% 108.04% 75.56% 51.18% 16.58% 54.92% 53.97% 50.92%
FCF Conversion (Net income) 59.36% 154.19% 131.55% 80.2% 25.79% 99.65% 90.84% 82.64%
Dividend per Share 2 8.500 8.000 14.50 19.00 19.00 25.80 31.93 38.37
Announcement Date 4/16/19 6/14/20 4/28/21 4/20/22 4/19/23 - - -
1INR in Million2INR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 4,428 4,832 5,165 5,339 5,519 5,702 6,253 6,587 7,092 7,252 7,479 7,840 7,956
EBITDA 1 1,039 1,059 1,128 1,128 1,162 1,092 1,074 1,137 1,255 1,270 1,194 1,232 1,374
EBIT 1 921.6 957.3 1,030 1,024 1,057 981.3 903.1 941.2 1,059 1,073 973 1,012 1,152
Operating Margin 20.81% 19.81% 19.95% 19.18% 19.15% 17.21% 14.44% 14.29% 14.94% 14.79% 13.01% 12.91% 14.48%
Earnings before Tax (EBT) 1 943.1 - 1,060 1,082 1,098 1,219 1,173 - - 1,003 - 1,021 1,050
Net income 1 574.2 - 693 722.9 736.4 771.6 791 641.8 725.7 700.9 661 685.2 787.7
Net margin 12.97% - 13.42% 13.54% 13.34% 13.53% 12.65% 9.74% 10.23% 9.66% 8.84% 8.74% 9.9%
EPS - - - - - - - 20.95 23.48 - 21.40 20.94 25.19
Dividend per Share - - - - - - - - - - - - -
Announcement Date 2/2/21 4/28/21 7/19/21 10/19/21 1/20/22 7/20/22 10/20/22 1/17/23 4/19/23 7/19/23 - - -
1INR in Million
Estimates

Balance Sheet Analysis

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - 1,949 - - -
Net Cash position 1 - - - - - 829 3,327 6,460
Leverage (Debt/EBITDA) - - - - 0.4276 x - - -
Free Cash Flow 1 602 1,679 2,754 2,367 756 2,856 3,402 3,877
ROE (net income / shareholders' equity) 16% 14.4% 25.4% 29.5% 21.3% 15.9% 18.4% 19.8%
ROA (Net income/ Total Assets) - - - - 13.7% 13.6% 16.4% 18.9%
Assets 1 - - - - 21,382 21,006 22,858 24,777
Book Value Per Share 2 299.0 328.0 340.0 357.0 552.0 614.0 710.0 835.0
Cash Flow per Share 2 - - - - 34.90 127.0 161.0 196.0
Capex 1 148 157 118 365 315 582 703 1,013
Capex / Sales 1.4% 1.46% 0.68% 1.67% 1.23% 1.91% 2% 2.49%
Announcement Date 4/16/19 6/14/20 4/28/21 4/20/22 4/19/23 - - -
1INR in Million2INR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
A-
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
5
Last Close Price
2,777 INR
Average target price
3,225 INR
Spread / Average Target
+16.13%
Consensus
  1. Stock Market
  2. Equities
  3. MASTEK Stock
  4. Financials Mastek Limited