Whalesbook
Q4 mein hui gadbad, par FY26 overall strong!
Dekho, Persistent Systems ne FY26 ke liye jabardast results toh diye hain, par Q4 mein revenue expectation se thoda sa kam aaya, around $436 million hi bana, jabki $438 million ki umeed thi. Quarter-on-quarter growth 3.2% raha, but adjusted EBIT margin 16.3% pe aagaya, jo expected 16.6% se thoda kam hai.
AI mein heavy investment ne badhaya kharcha
Han, yeh jo margins mein thodi kami aayi hai na, uska main reason hai company ka AI mein zabardast investment. Management ka kehna hai ki future mein AI growth ke liye yeh zaroori hai. Company apne aap ko AI future ke liye ready kar rahi hai. Aur poore FY26 ki baat karein toh company ne kamaal kar diya! INR terms mein revenue 23.5% saal-dar-saal badha. Adjusted EBIT 31.5% aur adjusted Profit After Tax (PAT) toh 33.2% tak jump kar gaya. Q4 FY26 mein RoE bhi 26.3% raha.
Analysts kahte hain 'BUY'!
Iss Q4 performance ke baad bhi, Motilal Oswal jaise analysts ne apna 'BUY' rating maintain kiya hai, target diya hai ₹6,200. Haan, unhone apne estimates ko 4-5% kam kar diya hai short-term pressure aur AI investments ko consider karke.
Valuation pe sawaal, stock gira bhi
But ek chiz note karne wali hai – stock abhi bhi premium valuation pe trade kar raha hai. Iska trailing twelve-month P/E ratio lagbhag 47x hai, jo industry average 23x se kaafi zyada hai. Stock price bhi iss saal ab tak 18.36% gir chuka hai, dikhata hai ki investors ko valuation aur AI ke impact ko lekar thoda caution hai.
Aisa nahi hai ki sirf Persistent hi pressure mein hai. Poori IT industry AI ke karan changes dekh rahi hai. HCLTech bhi kamzor results aur cautious forecast de chuka hai. TCS, Infosys, Wipro jaise bade players bhi AI automation ke karan billable hours aur pricing power pe impact dekh sakte hain.
BFSI mein strength aur future outlook
Waise, BFSI (Banking, Financial Services, Insurance) vertical mein company ka performance robust hai. Aur March 31, 2026 tak unke paas ₹27,622.1 million cash aur investments bhi hain. Future ki baat karein toh, management expects ki AI investments mature hone ke baad FY27-28 tak margins wapas 16.7-16.8% tak aa jayenge. Q4 mein Total Contract Value (TCV) $600.8 million aur Annual Contract Value (ACV) $445.1 million raha. Overall, hazaaron analysts mein se majority (around 20 out of 33) abhi bhi 'Buy' rating hi de rahe hain, aur kuch ka target ₹7,861 tak bhi hai, toh positive sentiment dikh raha hai. Company ko globally fastest-growing IT services brand bhi mana gaya hai.