[ad_1]
Domestic brokerage firm Emkay Global attended the company’s analyst meet, post which it maintained its ‘Add’ recommendation and a price target of ₹330 on the stock.
The price target ascribed by Emkay, implies a potential upside of just 2% from the stock’s closing levels on Friday.
The brokerage wrote in its note that the management has outlined its growth strategy that focused on seven strategic initiatives, including simplification of organisational structure and cross-selling/up-selling, particularly in the 50 potential growth accounts.
The steadfast execution will drive a possible mid-teen revenue growth, with 14% EBITM aspiration for the next three years.
According to Emkay, the management remains confident about achieving a revenue growth of 11.5-13.5% in FY25 and EBITM of 11-12%.
It targets reaching a $1 billion revenue run-rate by the fourth quarter of financial year 2026, and expanding margin by 50-75 basis points annually, from FY25.
Firstsource has also raised its FY25 constant currency revenue growth guidance to 11.5–13.5%, up from the previous range of 10–13%.
In a recent interview with CNBC-TV18, Sanjiv Goenka, Chairman of the Board of Directors of Firstsource Solutions Ltd., outlined a vision for Firstsource, predicting profits before tax to grow by approximately 250% over the next three years.
Goenka shared ambitious growth plans for the company, anticipating significant profit increases under the leadership of incoming CEO Ritesh Idnani.
The strategic plan hinges on several key elements: shifting focus to high-margin businesses, optimising costs, and increasing wallet share with existing customers. “Cash flow and cash is king,” Goenka said is the mantra for the company.
Firstsource Solutions, a part of the RP-Sanjiv Goenka Group, is a prominent Indian business process management company headquartered in Mumbai.
It operates across various sectors, including banking and financial services, customer services, telecom and media, and healthcare.
[ad_2]
Source link