Persistent Systems

₹3368.9 15.1 | 0.5%

WEBSITE BSE:533179 NSE : PERSISTENT 10 May, 16:01

Market Cap ₹51898 Cr.

Stock P/E 47.4

P/B 10.5

Current Price ₹3368.9

Book Value ₹ 321.8

Face Value 5

52W High ₹4814

Dividend Yield 0.77%

52W Low ₹ 2310.4

Edit Ratio

Persistent Systems Research see more...

Overview Inc. Year: 1990Industry: IT - Software

Persistent Systems Ltd is an India-primarily based holding agency engaged inside the commercial enterprise of supplying software merchandise and technology services. The Company provides various services, together with digital method and layout, software program product engineering, client experiences (CX) transformation, cloud & infrastructure, sensible automation, company's IT security and records and analytics. The Company serves numerous industries, including banking, monetary offerings and insurance, healthcare and life sciences, industrial, software and hi-tech and telecom and media. The Company's subsidiaries include Persistent Systems Pte Ltd., Persistent Systems France SAS, Persistent Systems, Inc. (PSI), Persistent Systems Malaysia Sdn. Bhd., Aepona Group Ltd (AGL), Aepona Ltd, Youperience GmbH (YGmbH), Persistent Systems Germany GmbH (PSGG), Persistent Telecom Solutions Inc, and Youperience Ltd.

Persistent Systems Share Price

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Peer Comparison

Persistent Systems Quarterly Results

#(Fig in Cr.)	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Net Sales	1492	1638	1878	2049	2169	2254	2321	2412	2498	2591
Other Income	31	42	21	8	33	9	22	37	38	31
Total Income	1522	1680	1899	2057	2202	2263	2343	2449	2537	2621
Total Expenditure	1241	1357	1545	1681	1768	1838	1947	2007	2056	2136
Operating Profit	282	323	354	376	434	425	396	442	480	485
Interest	3	5	8	11	14	15	13	12	12	10
Depreciation	43	51	65	69	68	70	76	74	79	80
Exceptional Income / Expenses	0	0	0	0	-30	0	0	0	0	0
Profit Before Tax	236	267	282	296	323	341	307	356	389	395
Provision for Tax	60	66	70	76	85	89	78	92	103	80
Profit After Tax	176	201	212	220	238	252	229	263	286	315
Adjustments	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	176	201	212	220	238	252	229	263	286	315
Adjusted Earnings Per Share	11.5	13.1	13.8	14.4	15.6	16.5	14.9	17.1	18.6	20.5

Persistent Systems Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	1295	1669	1891	2312	2878	3034	3366	3566	4188	5711	8351	9822
Other Income	29	31	99	98	96	136	95	132	108	154	84	128
Total Income	1323	1700	1991	2411	2974	3170	3461	3698	4296	5865	8435	9950
Total Expenditure	982	1255	1506	1942	2413	2582	2817	3074	3505	4763	6845	8146
Operating Profit	341	445	484	469	561	588	644	625	791	1102	1590	1803
Interest	0	0	0	0	0	0	0	6	6	12	47	47
Depreciation	78	103	94	99	149	158	157	166	176	166	272	309
Exceptional Income / Expenses	0	0	0	0	-11	0	0	0	0	0	-30	0
Profit Before Tax	263	343	390	370	401	429	486	452	609	924	1241	1447
Provision for Tax	75	93	99	92	99	106	135	112	159	234	320	353
Profit After Tax	188	249	291	277	301	323	352	340	451	690	921	1093
Adjustments	0	0	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	188	249	291	277	301	323	352	340	451	690	921	1093
Adjusted Earnings Per Share	11.7	15.6	18.2	17.3	18.8	20.2	22.2	22.3	29.5	45.2	60.3	71.1

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	46%	33%	22%	20%
Operating Profit CAGR	44%	37%	22%	17%
PAT CAGR	33%	39%	23%	17%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	44%	43%	62%	30%
ROE Average	26%	22%	19%	19%
ROCE Average	31%	28%	25%	26%

Persistent Systems Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	1018	1222	1406	1658	1899	2127	2345	2386	2796	3368	3965
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Borrowings	1	3	2	3	2	2	1	5	4	280	206
Other Non-Current Liabilities	45	13	-20	-0	-3	-21	-23	-42	-8	233	377
Total Current Liabilities	184	278	355	447	417	499	492	648	770	1426	1958
Total Liabilities	1248	1517	1743	2107	2316	2607	2815	2996	3562	5307	6506
Fixed Assets	350	408	408	437	536	512	401	432	457	1534	2341
Other Non-Current Assets	207	173	229	334	376	321	524	579	435	934	647
Total Current Assets	691	937	1106	1336	1404	1774	1891	1986	2670	2839	3518
Total Assets	1248	1517	1743	2107	2316	2607	2815	2996	3562	5307	6506

Persistent Systems Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	43	50	83	99	140	146	135	174	190	242	298
Cash Flow from Operating Activities	216	281	312	254	286	421	432	352	736	845	956
Cash Flow from Investing Activities	-171	-196	-232	-116	-222	-347	-226	-15	-542	-977	-421
Cash Flow from Financing Activities	-39	-50	-66	-127	-58	-96	-160	-329	-144	182	-404
Net Cash Inflow / Outflow	6	35	14	11	6	-22	47	8	50	50	131
Closing Cash & Cash Equivalent	50	83	99	140	146	135	174	190	242	298	467

Persistent Systems Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	11.73	15.58	18.16	17.33	18.84	20.19	22.22	22.26	29.48	45.17	60.26
CEPS(Rs)	16.62	21.99	24.03	23.52	28.16	30.1	32.16	33.12	40.97	56.03	78.05
DPS(Rs)	4.5	6	5	4	4.5	5	5.5	6	10	15.5	25
Book NAV/Share(Rs)	63.45	76.23	87.5	102.69	117.53	132.38	147.69	154.18	179.82	212.87	244.41
Core EBITDA Margin(%)	24.16	24.82	20.34	16.02	16.17	14.89	16.31	13.8	16.31	16.59	18.03
EBIT Margin(%)	20.32	20.53	20.64	15.99	13.92	14.15	14.46	12.86	14.69	16.39	15.43
Pre Tax Margin(%)	20.32	20.53	20.62	15.99	13.92	14.15	14.45	12.69	14.55	16.18	14.86
PAT Margin (%)	14.49	14.93	15.37	11.99	10.47	10.65	10.45	9.54	10.76	12.09	11.03
Cash Profit Margin (%)	20.54	21.08	20.33	16.27	15.65	15.87	15.12	14.2	14.95	15	14.29
ROA(%)	16.61	18.03	17.83	14.4	13.63	13.13	12.97	11.71	13.74	15.57	15.59
ROE(%)	20.26	22.31	22.19	18.23	17.11	16.16	15.79	14.5	17.66	23	26.36
ROCE(%)	28.27	30.53	29.62	24.08	22.5	21.3	21.75	19.36	23.7	28.36	31.44
Receivable days	63.21	59.91	63.82	62.04	57.25	57.76	52.97	55.51	50.69	48.55	55.05
Inventory Days	0	0	0	0	0	0	0	0	0	0	0
Payable days	0	0	0	0	0	0	0	0	0	0	0
PER(x)	11.55	16.81	19.6	21.97	15.81	17.1	14.24	12.37	32.54	52.81	38.24
Price/Book(x)	2.13	3.44	4.07	3.71	2.53	2.61	2.14	1.79	5.34	11.21	9.43
Dividend Yield(%)	1.66	1.15	1.4	1.05	1.51	1.45	1.74	2.18	1.04	0.65	1.08
EV/Net Sales(x)	1.63	2.46	2.94	2.57	1.6	1.74	1.29	1.05	3.27	6.3	4.16
EV/Core EBITDA(x)	6.19	9.2	11.48	12.7	8.23	8.99	6.74	6.02	17.31	32.64	21.86
Net Sales Growth(%)	29.41	28.94	13.31	22.26	24.48	5.39	10.95	5.94	17.45	36.36	46.23
EBIT Growth(%)	33.6	30.3	13.89	-5.26	8.38	7.13	13.35	-5.75	34.13	52.16	37.61
PAT Growth(%)	32.33	32.86	16.59	-4.59	8.71	7.17	8.85	-3.24	32.44	53.19	33.42
EPS Growth(%)	32.33	32.86	16.59	-4.59	8.71	7.17	10.06	0.17	32.44	53.19	33.42
Debt/Equity(x)	0	0	0	0	0	0	0	0	0	0.13	0.11
Current Ratio(x)	3.76	3.36	3.12	2.99	3.36	3.56	3.84	3.06	3.47	1.99	1.8
Quick Ratio(x)	3.76	3.36	3.12	2.99	3.36	3.56	3.84	3.06	3.47	1.99	1.8
Interest Cover(x)	7306.22	6466.26	1158.19	4019.38	4404	5434.68	1595.55	72.44	106.19	79.1	27.21
Total Debt/Mcap(x)	0	0	0	0	0	0	0	0	0	0.01	0.01

Persistent Systems Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	31.26	31.26	31.26	31.26	31.26	31.26	31.06	31.06	31.06	31.02
FII	19.92	20.03	20.45	19.69	20.28	20.54	20.5	21.27	24.41	24.89
DII	26.88	26.75	25.94	26.05	26.42	27.62	28.04	28.75	26.28	25.95
Public	21.94	21.95	22.34	23	22.04	20.58	20.4	18.93	18.25	18.14
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	2.39	2.39	2.39	2.39	2.39	2.39	2.39	2.39	2.39	2.39
FII	1.52	1.53	1.56	1.5	1.55	1.57	1.58	1.64	1.88	1.92
DII	2.05	2.04	1.98	1.99	2.02	2.11	2.16	2.21	2.02	2
Public	1.68	1.68	1.71	1.76	1.68	1.57	1.57	1.46	1.4	1.4
Others	0	0	0	0	0	0	0	0	0	0
Total	7.64	7.64	7.64	7.64	7.64	7.64	7.69	7.69	7.69	7.7

Pros

Company has delivered good profit growth of 23% CAGR over last 5 years
Company has a good return on equity (ROE) track record: 3 Years ROE 22%
Company has reduced debt.
Company is almost debt free.

Cons

Promoter holding is low: 31.02%.
Stock is trading at 10.5 times its book value.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.