Coforge Ltd - 532541 - Announcement under Regulation 30 (LODR)-Earnings Call Transcript
Transcript of Earnings Call27-07-2023
27-07-2023
Buy Coforge; target of Rs 5500: Sharekhan
Sharekhan is bullish on Coforge has recommended buy rating on the stock with a target price of Rs 5500 in its research report dated July 21, 2023.22-07-2023
Coforge expects sustained growth despite uncertain macros: CEO Sudhir Singh
In Q1, the company achieved a 21.4% YoY revenue growth, reaching 2,221 crore, and reaffirmed its FY24 annual revenue growth guidance of 13-16% in constant currency terms.22-07-2023
Coforge Ltd - 532541 - Announcement under Regulation 30 (LODR)-Newspaper Publication
Newspaper Publication - Statement of Un-audited financial results for the quarter ended June 30, 202321-07-2023
Coforge retains FY24 guidance, but investors are hardly excited
While it has displayed superior execution, analysts believe the demand environment will not be as supportive as one saw during the FY20-FY23 compressed transformation phase. Echoing this sentiment, some brokerages have lowered their earnings forecasts21-07-2023
Coforge Results Earnings Call for Q1FY24
Conference Call with Coforge Management and Analysts on Q1FY24 Performance and Outlook. Listen to the full earnings transcript.20-07-2023
Q1FY24 Quarterly Result Announced for Coforge Ltd.
IT Consulting & Software company Coforge announced Q1FY24 results: Revenue for the quarter was INR 22,210 million and USD 271.8 million Up 2.7% QoQ and 18.4% YoY in constant currency (CC) terms Up 2.8% QoQ and 13.9% YoY in USD terms Up 2.4% QoQ and 21.4% YoY in INR terms Adjusted EBITDA margin for the quarter stood at 16%. The Board has recommended an interim dividend of Rs 19 per share, and the record date for this payout will be August 3, 2023 Total order book executable over the next 12 months at USD 897 million Record order intake was USD 531 million, sixth consecutive quarter of USD 300+ million order intake. 6 new clients were added during the quarter. Headcount as of 30th June 2023, at 24,224; a net addition of 1,000 people during the quarter. LTM attrition at 13.3%, down 470 bps YoY. Two USD 50 million+ deals signed in the Banking and Financial Services (BFS) vertical. Highest ever order intake of USD 531 million during the quarter. Reiterates FY24 annual revenue growth guidance of 13% to 16% in CC terms. “Exceptional execution by Team Coforge in a testing environment allowed us to deliver another quarter of sustained, robust and profitable growth. The five-year USD 300 million TCV deal in the BFS space along with another five year USD 65 million TCV deal in the same sector underlined the execution rigor of the team. During the quarter we increased our net headcount by 1000 employees to support future growth, fully rolled out the annual salary increments for our employees on April 1st, honored all commitments to onboard campus hires, met our commitment to distribute around 21,500 i-pads to employees to mark our USD 1 Billion milestone and saw attrition drop down to 13.3%. The quarter’s performance sets us up very well for meeting our annual revenue guidance of 13% to 16% cc growth.” said Sudhir Singh, Chief Executive Officer, Coforge. Result PDF20-07-2023
Coforge Ltd - 532541 - Announcement under Regulation 30 (LODR)-Press Release / Media Release
Press Release, Fact Sheet & Web Presentation on the financial Results of the Company for the quarter ended June 30, 202320-07-2023