Tech Mahindra To Zydus Lifesciences — Here Are Top Stock Picks For March 2025 By DRChoksey

Company: a) Sound / resilient business; b) Consistent strong financials; c) High growth potential; and d) High return on invested capital.

Industry: a) Market leaders / Strong brand value; b) High growth opportunities; c) Strong entry barriers.

Management: a) Visionary Leadership; b) Strong & Effective Management; and c) High corporate access, including promoters and CXOs

DevenChoksey Differentiators: a) Analytics that predicts market movements; and b) High quality actionable research.

Company: a) Sound / resilient business; b) Consistent strong financials; c) High growth potential; and d) High return on invested capital.

Industry: a) Market leaders / Strong brand value; b) High growth opportunities; c) Strong entry barriers.

Management: a) Visionary Leadership; b) Strong & Effective Management; and c) High corporate access, including promoters and CXOs

DevenChoksey Differentiators: a) Analytics that predicts market movements; and b) High quality actionable research.

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. 

Deven Choksey Report

Tech Mahindra - Solid TCV growth, margin improvement remains on track

Current market price Rs 1,493 / Target Rs 1,801 / Potential Upside 20.6%

Tech Mahindra Ltd.’s revenue for Q3 FY25 stood at Rs 132,856 million, up 1.4% YoY (-0.2% QoQ). In terms of constant currency, revenue grew by 1.3% YoY CC (+1.2% QoQ CC). Ebit stood at Rs 13,502 million, up 92.1% YoY (+5.5% QoQ), resulting in margin expansion by 480 bps YoY (+55 bps QoQ) to 10.2%. PAT stood at Rs 9,832 millio, up 92.6% YoY (-21.4% QoQ). The QoQ decline was attributable to one-time gain on the sale of land in Q2 FY25. PAT margin stood at 7.4% (+350bps YoY/-199bps QoQ).

Zydus Lifesciences - Sustained growth ahead with geographic expansion

Current market price Rs 870 / Target Rs 1,201 / Potential Upside 38.0%

Zydus Lifesciences Ltd. is one of the leading innovation-driven life sciences companies in India with product portfolio includes active pharmaceutical ingredients, formulations, wellness products, animal health products, biosimilars, and vaccines.

The company's products cater to various therapeutic areas such as gastrointestinal, cardiovascular, respiratory, pain management, cancer, inflammation, neurology, and women's health.

The company was founded in 1950 by Ramanbhai B. Patel. Currently, the company has manufacturing footprint of 35 facilities.

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