Coforge Ltd Share Price Target Tomorrow, Market Overview for 2025-2035 :-
Coforge is formerly known as NIIT Technologies, is an Indian multinational information technology company which is founded in 1992 and based in Noida, India and New Jersey, United States. The company stock trades on the both exchanges NSE and BSE.
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Current Share Price of Coforge Ltd :-
| Price Summary | Value (₹) |
|---|---|
| Today’s High | 9,349.45 |
| Today’s Low | 9,042.05 |
| 52 Week High | 9,037.00 |
| 52 Week Low | 4,291.05 |
Current Fundamentals of Coforge Ltd :-
| Company Essentials | Value | Company Essentials | Value |
|---|---|---|---|
| Market Cap | ₹ 61,434.41 Cr. | EPS (TTM) | ₹ 119.22 |
| Enterprise Value | ₹ 61,193.91 Cr. | Sales Growth | 14.53% |
| No. of Shares | 6.69 Cr. | ROE | 25.40% |
| P/E | 77.07 | ROCE | 31.28% |
| P/B | 10.28 | Profit Growth | 12.15% |
| Face Value | ₹ 10 | Div. Yield | 0.83% |
| Book Value (TTM) | ₹ 894.21 | CASH | ₹ 578.70 Cr. |
| DEBT | ₹ 338.20 Cr. | Promoter Holding | 0 % |
Shareholding Pattern in Coforge Ltd :-
| Category | Sep 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sep 2023 | Jun 2023 |
|---|---|---|---|---|---|---|
| Promoter (%) | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 26.6% |
| FII (%) | 42.1% | 41.4% | 35.0% | 34.0% | 34.4% | 24.8% |
| DII (%) | 48.2% | 47.3% | 54.3% | 55.0% | 54.3% | 37.2% |
| Public (%) | 9.8% | 11.3% | 10.7% | 11.0% | 11.4% | 11.4% |
| Others (%) | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Target in Coforge Ltd :-
| Year | Target |
|---|---|
| 2025 | 10,000 |
| 2026 | 10,800 |
| 2027 | 11,500 |
| 2028 | 12,560 |
| 2029 | 13,500 |
| 2030 | 14,500 |
Future Plan of Coforge Ltd :-
Coforge has shared plans to increase its profit margin by 100-300 basis points in the medium term. Analysts have mixed opinions about this strategy.
Positive Views:
- Nomura: Recommends buying the stock with a target price of ₹4,920, suggesting an 8% gain from Monday’s closing price. They view the management’s comments as encouraging and note that the stock is valued at 21 times its expected earnings for FY2025.
- Nuvama: Also advises buying the stock with a higher target price of ₹5,500, implying a 20% potential gain. This is the third-highest target, following Macquarie (₹5,840) and B&K Securities (₹5,520).
Cautious View:
- Citi: Predicts that margins will stay similar to FY2023 levels, with only a slight improvement in gross margin (50 basis points) in FY2024. Citi has given a “sell” rating with a target price of ₹3,980, indicating a possible 14% drop from current levels. Citi is one of six analysts who recommend selling the stock.
Quarterly Reports :-
| Particulars | Mar 2024 | Jun 2024 | Sep 2024 |
|---|---|---|---|
| Net Sales (₹ Cr.) | 2,358.50 | 2,400.80 | 3,062.30 |
| Total Expenditure (₹ Cr.) | 1,972.80 | 2,107.50 | 2,650.40 |
| Operating Profit (₹ Cr.) | 385.70 | 293.30 | 411.90 |
| Other Income (₹ Cr.) | 9.90 | 25.40 | 56.30 |
| Interest (₹ Cr.) | 37.00 | 32.50 | 30.40 |
| Depreciation (₹ Cr.) | 84.60 | 81.50 | 124.30 |
| Exceptional Items (₹ Cr.) | 11.60 | 0.00 | 0.00 |
| Profit Before Tax (₹ Cr.) | 285.60 | 204.70 | 313.50 |
| Tax (₹ Cr.) | 56.40 | 65.40 | 79.90 |
| Profit After Tax (₹ Cr.) | 229.20 | 139.30 | 233.60 |
| Adjustments (₹ Cr.) | -5.50 | -6.10 | -31.40 |
| Consolidated Net Profit (₹ Cr.) | 223.70 | 133.20 | 202.20 |
| Adjusted EPS (₹) | 36.20 | 19.97 | 30.31 |
Profit & Loss :-
| Particulars | Mar 2022 | Mar 2023 | Mar 2024 |
|---|---|---|---|
| Net Sales (₹ Cr.) | 6,432.00 | 8,014.60 | 9,179.00 |
| Total Expenditure (₹ Cr.) | 5,330.10 | 6,733.90 | 7,751.40 |
| Operating Profit (₹ Cr.) | 1,101.90 | 1,280.70 | 1,427.60 |
| Other Income (₹ Cr.) | 51.80 | 61.90 | 61.40 |
| Interest (₹ Cr.) | 65.00 | 80.60 | 125.60 |
| Depreciation (₹ Cr.) | 227.20 | 258.50 | 318.50 |
| Exceptional Items (₹ Cr.) | 0.00 | -52.30 | 0.00 |
| Profit Before Tax (₹ Cr.) | 861.50 | 951.20 | 1,044.90 |
| Tax (₹ Cr.) | 146.80 | 206.10 | 209.30 |
| Profit After Tax (₹ Cr.) | 714.70 | 745.10 | 835.60 |
| Adjustments (₹ Cr.) | -53.00 | -51.30 | -27.60 |
| Consolidated Net Profit (₹ Cr.) | 661.70 | 693.80 | 808.00 |
| Adjusted EPS (₹) | 108.65 | 113.55 | 130.74 |
Balance Sheet :-
| Particulars | Mar 2022 | Mar 2023 | Mar 2024 |
|---|---|---|---|
| Equity and Liabilities | |||
| Share Capital (₹ Cr.) | 60.90 | 61.10 | 61.80 |
| Total Reserves (₹ Cr.) | 2,672.20 | 3,021.40 | 3,564.80 |
| Minority Interest (₹ Cr.) | 98.30 | 87.40 | 100.30 |
| Borrowings (₹ Cr.) | 336.50 | 338.20 | 339.90 |
| Other N/C Liabilities (₹ Cr.) | 1,542.70 | 1,471.50 | 1,698.50 |
| Current Liabilities (₹ Cr.) | 1,179.20 | 1,739.30 | 1,531.50 |
| Total Liabilities (₹ Cr.) | 5,889.80 | 6,718.90 | 7,296.80 |
| Assets | |||
| Net Block (₹ Cr.) | 2,066.70 | 2,311.90 | 2,353.00 |
| Capital WIP (₹ Cr.) | 8.60 | 4.60 | 23.20 |
| Intangible WIP (₹ Cr.) | 8.20 | 0.00 | 0.00 |
| Investments (₹ Cr.) | 0.00 | 0.00 | 0.00 |
| Loans & Advances (₹ Cr.) | 1,543.60 | 1,777.80 | 2,293.40 |
| Other N/C Assets (₹ Cr.) | 41.80 | 18.20 | 24.70 |
| Current Assets (₹ Cr.) | 2,220.90 | 2,606.40 | 2,602.50 |
| Total Assets (₹ Cr.) | 5,889.80 | 6,718.90 | 7,296.80 |
Cash Flow :-
| Particulars | Mar 2022 | Mar 2023 | Mar 2024 |
|---|---|---|---|
| Profit from Operations (₹ Cr.) | 861.50 | 951.20 | 1,044.90 |
| Adjustment (₹ Cr.) | 312.00 | 382.00 | 504.60 |
| Changes in Assets & Liabilities (₹ Cr.) | -143.30 | -102.70 | -280.00 |
| Tax Paid (₹ Cr.) | -264.60 | -280.00 | -366.10 |
| Operating Cash Flow (₹ Cr.) | 765.60 | 950.50 | 903.40 |
| Investing Cash Flow (₹ Cr.) | -962.90 | -269.20 | -265.00 |
| Financing Cash Flow (₹ Cr.) | -155.80 | -558.20 | -887.00 |
| Net Cash Flow (₹ Cr.) | -353.10 | 123.10 | -248.60 |