Mastek inches ahead on overseas contract

Mastek rose 0.27% to Rs 313.10 at 11:02 IST on BSE after the company said it in partnership with Thales, Fujitsu Services and Flyware has won a 27-million-pound contract from the UK defence ministry.

The stock hit a high of Rs 319.95 and a low of Rs 312.20 so far during the day. The stock had a 52-week high of Rs 419 on 12 October 2007 and a 52-week low of Rs 220 on 12 February 2008.

The company’s current equity is Rs 14.26 crore. Face value per share is Rs 5.

The current price of Rs 313.10 discounts its Q2 December 2007 annualized EPS of Rs 26.27, by a PE multiple of 11.92.

On 10 March 2008, Mastek acquired 100% stake in Systems Task Group International, New York, in an all cash deal for $29 million through its wholly owned US subsidiary MajescoMastek.

Mastek’s net profit rose 10.44% to Rs 18.72 crore on 2.13% fall in net sales to Rs 137.19 in Q2 December 2007 over Q1 September 2007.

Mastek is an information technology (IT) player with global operations providing enterprise solutions to insurance, government, and financial services organizations worldwide.