Stock Name : Mastek Limited/Tips Open Buy : 1,358 Posted Date : Jan 11, 2021
Stopless/Horizon : 1290 Target : 1561     

Overview:Mastek is a global technology services company offering digital services and software for large public and private enterprises in the UK, US, Middle East, Asia-Pacific and India. It is a Small Cap company with a market capitalization of Rs 3014.68 Crore.

About the company:Mastek was incorporated in 1982 as Management and Software Technology Private Limited, a business designing and delivering computer software.

Mastek’s services are built around developing and modernising the applications, accelerating digital advantage and delivering measurable value with Oracle Cloud solutions, the company operates in 11 offices and has more than 2,200 employees.

In 1992, the company’s name was changed to Mastek, later on the same year they acquired Carter Cast Systems, a UK IT company, in order to establish footprint in UK and established a subsidiary named Majescoin USA.

The company’s clients include organisations across the public sector, finance, corporate and retail.

Mastek operates across the UK, US and India.Of the three markets, the UK contributes about 75% of the company’s total revenues, US pays 23% and India’s contribution is 2% only.

Mastek helps their public sector clients to recover, modernise and create digital services to meet the needs of the public they serve.

The company help their clients in the commercial sector to build services that are evolved for customers and employees and impact business goals.

Management:John Owen is Group CEO of Mastek (at Global HQ in the UK). Mr S Sandilya is the Non-Executive Chairman and Mr Ashank Desaiis Managing Director.

Shareholding Pattern (2020):
• Promoters: 44.63%
• FII: 5.63%
• DII: 14.06
• Public: 35.68%

Dividend: Mastek has declared an equity dividend of 160.00% amounting to Rs 8 per share for the year ending March 2020.

Sales Report: For the quarter ended on 30th September 2020, Mastek has reported a Consolidated sale of Rs 409.74 Crore, which was up 6.13 % from last quarter Sales of Rs 386.06 Crore and up 68.20 % from previous year’s corresponding period’s Sales of Rs 243.60 Crore.

Mastek’s consolidated net profit doubled to Rs 59.1 crore for the same quarter against the net profit of Rs 24.6 crore in the year-ago period.

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