Whalesbook
Mphasis ne apne rival Coforge ke khilaaf aisi allegations ke saath US court mein case file kiya hai, jisme kaha gaya hai ki Coforge ne Mphasis ke senior executives ko galat tareeke se recruit kiya hai aur confidential client data ko misuse kiya hai. Ye sab tab ho raha hai jab dono mid-cap IT companies apne quarterly results mein zabardast performance dikha rahi hain, jo AI-driven sector mein talent aur market share ke liye chal rahe intense competition ko show karta hai.
Yeh court case, jo March 31 ko file hua tha aur abhi recently public hua hai, Coforge ko do purane Mphasis executives ko Charles Schwab accounts par kaam karne se rokne ki maang kar raha hai. Mphasis ka kehna hai ki contract ki terms ko toda gaya hai aur confidential data ka galat istemal hua hai. Company compensatory damages aur legal fees bhi maang rahi hai.
Is legal ladai ke beech, dono companies ne numbers mein bhi kamaal dikhaya hai. Coforge ne Q4 FY26 mein sequential profit mein 145% ka zabardast jump dikhate hue ₹612 crore ka profit report kiya, aur revenue bhi 5.2% badh kar ₹4,450 crore ho gaya. Unka EBITDA margin bhi record 19.6% raha. Mphasis ne bhi March mein khatam hue quarter mein sequential net profit mein 15.3% ki badhotari ke saath ₹509.6 crore aur revenue mein 6% growth ke saath ₹4,242.6 crore report kiya.
Performance ke bawajood, stock market mein reactions alag rahe. Coforge ka stock 6 May 2026 ko ~10% upar bhag gaya, investors ka confidence unke results aur outlook se badha. Lekin Mphasis ka stock, FY25 mein $1.27 billion ka TCV win hone aur sequential earnings growth dikhane ke baad bhi, year-to-date ~10% gira hai. Yeh dikhata hai ki market mein sentiment results aur legal issues dono se affect hota hai.
Analysts is sector ko lekar kaafi positive hain. ICICI Securities ne dono companies Coforge aur Mphasis ko 'Buy' rating di hai, unki attractive valuations aur revenue growth ko dekhte hue. Coforge ka P/E ratio lagbhag 33.5 se 37.0 ke beech hai, jabki Mphasis ka P/E 22.65 se 30.98 hai. Market cap ki baat karein toh Coforge ₹50,196 Cr se ₹55,036 Cr ke aas paas hai, jabki Mphasis ka market cap ₹42,181 Cr se ₹43,441.82 Cr hai. ICICI Securities ke hisaab se IT services industry 3-5% annual growth de sakti hai.
Yeh case IT sector mein badhti hui competition ko highlight karta hai, jisme Infosys, Cognizant, aur Wipro jaise companies bhi legal disputes mein phansi hain. Talent ko recruit karne aur client relationship manage karne mein challenges badh gaye hain, khaas kar jab ek hi client (Charles Schwab) dono companies ke liye important ho. Agar Coforge ke tareeke galat prove hue toh dono companies ko operational aur reputational risks ka saamna karna pad sakta hai.