This Midcap IT stock which deals in providing specialized services in cloud and cognitive services and applies next-generation technology is up by 3.5 percent after the company collaborated with MoneyGram Haas F1 for monitoring track performance.
Price Action
With a market capitalization of Rs. 53,949 Crores, the shares of Mphasis Limited were up by 3.5 percent in the day’s trade touching a day’s high of Rs. 2882.80 per share. The stock reiterated from the day’s high and was trading at Rs. 2,848.80 per share which is 2.23 percent higher from the previous closing price of Rs. 2,786.60 apiece.
What Happened
Mphasis Limited has announced collaboration with MoneyGram Haas F1 a multi-year technology-driven partnership to develop cutting-edge solutions aimed at improving the team’s performance on the track and to improve driving operational efficiency off the track. Mphasis brings Data, Analytics, Automation, Artificial Intelligence, and Cyber security thus aiding the MoneyGram Haas F1 Team in areas such as predictive modeling, real-time data analysis, and performance optimization.
Management Commentary
The Team Principal of MoneyGram Haas F1 team, Ayao Komastu said “We are thrilled to welcome Mphasis as our Official Digital Partner. Their expertise in advanced technology and innovative approach to problem-solving will be instrumental in helping us reach new heights of performance and efficiency. This multi-year partnership represents the perfect synergy between two organizations striving for excellence.”
Nitin Rakesh, the CEO and Managing Director of Mphasis said “Partnering with MoneyGram Haas F1 Team is an exciting opportunity for Mphasis to showcase how technology can redefine what’s possible in the world of high-performance sports. This partnership underscores our commitment to drive the future of sports technology. We look forward to a collaborative journey focused on innovation and success.”
About the Company
Mphasis Limited is a leading Indian IT services provider headquartered in Bangalore which specializes in cloud and cognitive services. They employ a customer-centric approach, through the Front2Back Transformation strategy, which integrates advanced technologies to improve digital experiences for clients. Mphasis operates across various sectors, including financial services, telecommunications, and logistics, offering services such as infrastructure outsourcing, application development, and business process outsourcing. Their business model focuses on niche markets, using automation and innovative solutions to drive efficiency and reduce costs while maintaining strong client relationships through personalized service delivery.
Financials & Ratios
Its Revenue from operations grew by 7.93 percent year on year from Rs. 3,276 Crores in Q2FY24 to Rs. 3,536 Crores in Q2FY25, accompanied by profits of Rs. 392 Crores to Rs. 423 Crores.
In terms of Return ratios, it has reported a return on equity (ROE) of 18.59 percent and a return on capital employed (ROCE) of 22.02 percent. It has reported a debt-to-equity ratio of 0.1.
Shareholding Pattern
As of September 2024, the shareholding pattern with promoters stake holding a share of 40.32 percent in Mphasis, Foreign Institutional Investors (FII) holdings stood at 18.25 percent, Domestic Institutional investors (DII) standing at 36.87 percent, public holdings standing at 4.57 percent and others holding around 0.03 percent.
Written by Santhosh S
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