Whalesbook
Yaar, Tech Mahindra ke results dekh kar toh laga tha ki aaj stock mein toofani tezi aayegi. Revenue growth 12.6% se ₹15,076 crore tak pahunch gaya Q4 mein. Aur profit? Poora 16% upar, matlab ₹1,354 crore! Full year FY26 ki baat karein toh revenue ₹56,815 crore aur PAT ₹4,811 crore kamaya. EBIT toh 39.2% bhaga!
Sabse achhi baat pata hai kya hai? Deal wins ne toh history bana di! FY26 mein total $3,794 million ke naye deals mile hain, jo pichhle saal se 41.6% zyada hain. Q4 mein bhi $1,073 million ke deals mile. Company bol rahi hai ki AI-focused services ki wajah se itne bade deals mile hain.
Aur investors ke liye toh khush khabri hai hi. Is saal ka total dividend ₹51 per share dene ka plan hai, jo company ka sabse bada dividend hai ab tak ka. Final dividend hi ₹36 ka hai.
Abhi tak toh sab goood news thi, right? Lekin jahan humein laga stock rocket banega, wahan woh 2.59% niche gir gaya. Closing price ₹1,461.90 raha. Aur mazedar baat yeh hai ki results aane se pehle hi teen din se stock lagatar gir raha tha!
Toh aisa kyu hua? Toh yaar, pura IT sector hi aaj mood mein nahi tha. Nifty 50 bhi thoda peeche tha, par IT sector ka index toh lagbhag 4% gira tha. HCLTech ka bhi toh bura haal tha, results ke baad 10% gir gaya. Jab industry mein hi pressure ho toh company kitni bhi acchi performance kare, market kabhi kabhi ignore kar deta hai.
Ek aur reason ho sakta hai - valuation. Tech Mahindra ka P/E ratio lagbhag 30-32x chal raha hai, jo Tata Consultancy Services (around 16.85x) aur Infosys (around 17.65x) jaise bade players ke comparison mein kaafi zyada hai. Matlab investors ko future growth se bahut zyada umeed hai.
Aur ek cheez jo notice karne wali hai, woh hai employee count. Company ne pichhle saal se 1,108 logon ko kam kiya hai. Total staff ab 147,623 hai.
Analysts toh abhi bhi positive hain, 'Moderate Buy' bol rahe hain aur target ₹1,605 se ₹1,755 ke beech de rahe hain. Lekin Mojo Score toh 'Sell' bata raha hai, toh thoda confusion hai market mein.
Company ka focus AI-driven model par hai aur FY27 tak 15% EBIT margin ka target hai. Dekhna hoga ki yeh sab pressure ke beech kaise manage karte hain. Overall, results acchi hain, par market ka mood kharab hai, isliye stock ne reply nahi diya.