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Nirmal Bang Report
Persistent Systems Ltd. delivered a solid all round beat in Q2 results with record deal wins, total contract value at $529 million. Their Q2 show continues to demonstrate solid execution and growth leadership with a secular growth outlook across BFSI, HLS, and emerging verticals.
The company is well-positioned to navigate macroeconomic challenges while driving long-term revenue and margin expansion. Their ongoing investments in AI, cloud, and digital transformation services further reinforce their competitive edge in the IT services space.
We remain optimistic about Persistent Systems' growth trajectory, given its consistent financial performance, strong deal wins, and strategic focus on AI and platform-driven services.
The stock remains attractive for long-term investors, with solid fundamentals and growth potential.
We reiterate ‘Hold' with an increased target price of Rs 5,896 (versus earlier Rs 5,355) valuing at ~50 times Sep'26E EPS (three year mean – 1.5 SD).
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