According to the Ovum Report, co’s core addressable market (i.e. global ECM, BPM and CCM markets) were estimated at USD 14,935 million, USD 6,100 million and USD 1,460 million, respectively in 2017. Co have expanded its addressable market by developing solution frameworks in its key verticals including banking, government/PSU, BPO/IT and healthcare. As of September 30, 2017, co had over 450 active customers (invoiced in the last 12 months) in over 60 countries. Some of co’s key active customers include Trust Company of America, Mercantil Bank, ICICI Bank, Trafigura, Bajaj Electricals, United Arab Bank, National Commercial Bank Jamaica, Axis Bank, Yes Bank, Kotak Mahindra Bank, Bank Islam Brunei Darussalam, Philippines Resource Saving Bank, ICICI Prudential Life Insurance,
Reliance General Insurance, Max Life Insurance, Strides Shasun and Shriram Transport Finance. Co’s enterprise-wide, missioncritical solutions have been used by some of the leading global businesses in various sectors including banking, government/PSUs, BPO/IT, insurance and healthcare.
The co is bringing the issue at p/e multiple of 33 on FY17 eps of Rs 8.26 at higher price band of Rs 240-245/share. Looking after financials of co we recommend “Long Term Subscribe” on it.
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