Credit rating agency, CRISIL Research has revised Helios and Matheson Information Technology’s CRISIL IER fundamental grade to 3/5 from 2/5. The grade indicates that the company’s fundamentals are ‘good’ relative to other listed equity securities in India. Moreover, the rating agency has assigned a valuation grade of 5/5 to the company.
The upward revision in the company’s fundamental grade is triggered by consistent improvement in revenues over the past six quarters backed by strong focus on blue-chip clients, rise in employee utilisation and improvement in asset utilisation, which is likely to increase returns going forward.
Helios and Matheson Information Technology is a provider of IT services including IT application and development, application validation and verification, and related services to the BFSI, healthcare, technology and other sectors.