Tepid quarter due to hi-tech weakness

Company
23 Jan 2024
5 Min read 
  • Zensar reported a weak performance in 3QFY24 due to hi-tech weakness and higher furloughs.
  •  Adjusted EBITDA margin was in line with estimates, but reported EBITDA margin declined.
  •  The company expects constraints in the hi-tech segment and sees muted growth in 4Q.
  •  Zensar aims to maintain a margin guidance band of 14-16% and reinvest for future growth.
  •  The stock is trading at fair valuations, leaving limited upside potential.
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