COFORGE

Business Mid-cap IT services company focused on digital engineering, cloud, AI and BFSI clients. Key Fundamental Metrics P/E: 34–48 range depending on period P/B: 5.7 Dividend Yield: 1.2% Growth: Good Management Quality: Good Valuation: Slightly expensive vs historical levels. Positive Factors ✔ Strong revenue growth in recent years ✔ Good institutional holding (MF 38%, FII 34%) ✔ Expansion through AI capability acquisition (Encora deal) to boost global business. Risks ⚠ IT sector slowdown globally ⚠ Margins pressure in some quarters ⚠ Premium valuation vs peers