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ICICI Direct Report
Zensar Technologies Ltd. reported Q1 FY21 numbers. Dollar revenues fell 7.0% QoQ mainly due to a decline in retail and financial vertical that dipped 23% QoQ, 14% QoQ. However, Ebit margins increased 20 basis points to 10.0% mainly led by forex gain (40 bps), selling general and administrative (SG&A) optimisation (20 basis points) partially offset by lower utilisation.
The other key positive was fall in debt by approximately 15.5 million U.S. dollars (approximately Rs 116 crore) QoQ and days sales outstanding (DSO) days dipping by 12 days QoQ to 75 days. The company saw order booking of 150 million U.S. dollars in the quarter (book to bill ratio of 1.15 times) and also has healthy deal pipeline (1.5 billion U.S. dollars)
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