MPS Ltd

Stock Opportunities Not-so-Hidden Gems
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The results are out:
http://www.bseindia.com/xml-data/corpfiling/AttachLive/267c78ae-fb30-451c-a5cb-dc4e66dfd679.pdf

  1. Revenue is up 18% on constant currency terms
  2. Reported revenue is up by 8%
  3. EBITDA is flat. The reason cited is that margins were suppressed because of unfavuorable currency movements.
  4. PBT is up by 13%
  5. PAT is up by 24%
  6. Headcount has fallen by 11%
  7. Cash as on Jun-17 is Rs. 251 cr.
  8. Zero Debt
  9. Clients billed have gone up from 93 to 460
  10. " As MPS is growing, our customer base is diversifying due to growth in larger accounts and addition of
    smaller customers through our platform business. Our core customer base has now expanded to 15 large
    accounts."
  11. Segment-wise reporting is very interesting. There is de-growth in content side of business(might be because of currency or client pressure on pricing). But Platforms business has shown great growth. In Q116 the revenue was Rs. 533 which has shot up to Rs. 1457. MagPlus and Think strategy might be showing good traction.

These are decent numbers but no word on acquisition yet. There is a con-call tomorrow and here are the details:
http://www.adi-mps.com/wp-content/uploads/2017/07/MPS-Q1FY18-Invite.pdf

Thanks,
Kunal

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