Whalesbook
Kamai toh badhi, par aage kya?
Ab dekho, company ne FY26 ke liye overall bhi badhiya performance di hai. Full year mein revenue 102.1% badh kar ₹1,113.17 crore pahuncha aur profit 16.1% badh kar ₹58.65 crore ho gaya. FY26 ke liye total dividend ₹25 per share ban raha hai, jo investors ke liye achhi khabar hai. Company ne ye bhi bataya ki unke lagbhag 77% client engagements mein ab AI capabilities use ho rahi hain, matlab AI ki taraf focus hai.
Valuation ka scene aur Sector ka pressure
Lekin yahan ek twist hai. Itna sab achha hone ke baad bhi, market analysts Sasken ke valuation ko lekar thoda pareshan hain. Stock ka P/E ratio alag-alag jagah 36.69 se lekar 74.43 tak dikh raha hai, jo kaafi high hai. Pichhle saal Nifty IT index ke comparison mein stock ne 5.09% underperform bhi kiya hai. Aur pata hai, poora IT sector hi aajkal ek tarah se 'recalibration' ke daur se guzar raha hai, Generative AI ko lekar bhi chinta hai aur companies kharch karne mein savdhaan ho rahi hain.
Regulatory Fines aur Governance ke sawaal
Aur ek aur cheez hai – regulatory issues. Sasken ko pehle BSE aur NSE ne listing regulations follow na karne par ₹2.68 lakh aur phir ₹8.82 lakh ka fine lagaya tha. Iske alawa, tax department ne ₹13.59 crore ki tax demand notice bhi bheji hai FY2020-21 ke liye, jise company challenge karne wali hai. Ye sab baatein company ke governance par sawal utha sakti hain, bhale hi company keh rahi hai ki ye operations ko affect nahi karenge.
Future Outlook: Opportunities vs Challenges
Toh ab aage kya? IT sector mein toh growth ka expectation hai, aur Sasken ka AI aur product engineering par focus bhi sahi direction mein hai. Lekin analysts ka kehna hai ki current valuation ke hisaab se abhi 'Hold' karne mein hi bhalai hai, kyunki kuch targets mein downside ka bhi indication hai. Dekhna hoga ki company valuation ke pressure aur regulatory issues ko manage karke AI ka fayda kaise uthati hai.