Mid Size IT company posed for growth

1.  One of the greatest challenges for a good investor is to identify a company  , which stands out among its peers . There are many companies in the IT mid cap space which offer value - Sonata, Patni, Helios and matheson, 3i Infotech, but the one that appeals the most to me - Zensar Infotech and Sonata . Why Zensar - because of its scalability. The growth has been consistent over the last few quarters except a minor blip in Mar 2010. It has consistently rewarded shareholders- div yield is app  3% + , bonus and most importantly zero debt (which is very critical part of the analysis) &  last but definitely not the least, it  belongs to the Goenka group who have expressed their  intention of increasing their stake too. For me Zensar and Sonata are two good companies that stand out in the pack. Mid cap IT will find it difficult to scale up, and are likely to be good takeover / M&A candidates which could send their shares rising with time . But with the Goenka group, this may not be the issue as the promoters are keen to increase the size / scale up.  Excellent Management with Ganesh Natrajan at the helm. Another good reason to buy

. 

Icome Statement
Revenue	146.59	138.64	120.43	123.23	128.91	502.32
Other Income	0.37	5.42	0.46	0.60	1.21	2.91
Total Income	146.96	144.06	120.89	123.83	130.12	505.23
Expenditure	-121.59	-105.81	-103.47	-93.57	-97.37	-393.18
Interest	-0.08	-0.05	-0.07	-0.11	-0.28	-0.55
PBDT	25.29	38.20	17.35	30.15	32.47	111.50
Depreciation	-6.50	-6.45	-6.19	-5.65	-5.85	-24.92
PBT	18.79	31.75	11.16	24.50	26.62	86.58
Tax	-1.15	-2.96	-1.60	0.34	1.12	-2.43
Net Profit	17.64	28.79	9.56	24.84	27.74	84.15
Equity	43.25	21.59	21.58	23.98	23.97	21.58
EPS	4.08	6.67	4.31	10.36	11.57	35.77
CEPS	5.58	16.32	7.30	12.71	14.01	50.54
OPM %	17.31	27.59	14.46	24.56	25.41	22.31
NPM %	12.03	20.77	7.94	20.16	21.52	16.7