CMP : 546
Target Price : 700
Tech Mahindra posted sales of Rs6,884cr for 4QFY2016 (V/s Rs6,701cr in
3QFY2016), which is a qoq growth of 2.7%. In US$ terms, sales came in at
US$1,023mn (V/s our expectation of US$1,021mn), a qoq growth of 0.8%. In
terms of geographies, growth was driven by ROW (accounted for 24.7% of sales
V/s 23.2% of sales in 3QFY2016). In terms of i..