Birlasoft gains 13%, hits fresh record high; stk zooms 224% so far in 2020

Shares of Birlasoft (formerly KPIT Technologies) hit a fresh record high of Rs 229, surging 13 per cent on the BSE in the intra-day trade on Tuesday. Stock of the CK Birla Group and a global enterprise digital and IT services company has zoomed 224 per cent thus far in the calendar year 2020. In comparison, the S&P BSE Sensex is up 11 per cent during the year.

Birlasoft has entered into strategic alliances with various business partners to widen the gamut of their service offerings. Their key alliances include Oracle, JD Edwards, SAP, Infor and Microsoft. Birlasoft is a Microsoft Gold Certified partner with competencies in multiple technology areas, including, Microsoft Dynamics Partner for Enterprise Solution Implementation, Microsoft Azure Cloud among others.

With a consistent and strong record of total contract value (TCV) deal wins in April-September period (H1FY21), combined with a healthy pipeline, the management said it is confident about further growth in revenues in the second half (October-March) of FY21.

In November, CARE Ratings reaffirmed the rating assigned to the bank facilities of Birlasoft due to its strong parentage with long track record in IT consulting business, diversified service offerings of the company, reputed client base and alliances entered by the company to drive business growth.

“The ratings also factor in the comfortable financial risk profile of the company marked by strong debt protection metrics and its strong liquidity position. Going forward, the ability of the company to increase its scale of operations in a highly competitive industry scenario without adversely impacting its profitability margins and capital structure would be the key rating sensitivities,” the rating agency said in rationale.

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