Stockrabit · Analysts
Questions across 19 calls

Abhishek Bhandari

Nomura

Wipro Limited

Wipro Limited · 2026-07-16
Yes, thank you for the opportunity. Srini, all through the call you guys have mentioned that the large deal environment remains very competitive. I was curious to understand has the degree of competition increased, decreased or is it stable? And a related que stion is how are you future - proofing your margins in the wake of such competitive pressures? We already saw some glimpse of margin headwinds in Q1, which of course you will recoup through the year, but if the market remains like this, how do you ensure that we don't trade off the margin for chasing growth?
Got it. Thanks, Srini and all the best for the year.
Wipro Limited CC-Jul26.pdf · 2026-07-16
Yes, thank you for the opportunity. Srini, all through the call you guys have mentioned that the large deal environment remains very competitive. I was curious to understand has the degree of competition increased, decreased or is it stable? And a related que stion is how are you future - proofing your margins in the wake of such competitive pressures? We already saw some glimpse of margin headwinds in Q1, which of course you will recoup through the year, but if the market remains like this, how do you ensure that we don't trade off the margin for chasing growth?
Got it. Thanks, Srini and all the best for the year.
Wipro Limited CC-Dec24.pdf · 2025-01-17
I had a question on growth and the guidance again. So, Srini, if I look at your growth for this quarter, it was broadly led by Healthcare, partly by Manufacturing. But in Banking, we had a negative number. Is it because of the furlough? And if you could talk about your outlook specifically for Banking and Healthcare businesses, given that some of your peers are talking about increasing caution amongst Healthcare clients given uncertainty around policy device, and optimism in Banking given that there could be dereg and other stuff happening which could increase the business.
Got it. And Srini, secondly, last question is again on guidance part given that we had a great execution this quarter, we executed more than the top end. We are talking about some return of discretionary demand; furlough would be absent as Abhishek also asked. And there may be some tailwind coming from the execution of projects and in the near past. So, I am still curious in why have a negative number from a guidance perspective when most of the things are actually positive points.
Wipro Limited CC-Jun24.pdf · 2024-07-19
Srini, my first question is on the quarter gone by. Most of the peers who have reported were kind of positively surprised by the execution during the quarter. While we have reported a number which is within the band, it’s towards the lower end. So, was there any incident in terms of negative surprises for you or do you think your Q1 performance was in line with what you had anticipated at the start of the quarter?
My second and last question is on the telco deal what you won in Q1. Is it due for full ramp up in Q2 or there will be staggered ramp up between Q2 and Q3?

HCL Technologies Limited

HCL Technologies Limited CC-Jul26.pdf · 2026-07-13
Yeah, thank you for the opportunity. CVK, congrats on the good deal wins. I had two questions. First is on your guidance. This quarter we had 2.4 billion deal wins, which in the press conference you said is highest ever for any Q1. And along with that, we also had a mega deal, announced in the first week of July. So what are the various moving parts which is, restricting you from increasing the guidance from here? I'll come back with the second question after this.
Got it, thanks CVK. My second and last question is on the, investment in the datacenter. If you can share more details around it, what are the upper limits or the periods of investment in this, particular avenue? If I look at it works out to almost $7 million per megawatt, which is kind of the cost for a colo cation datacenter, not an AI datacenter. So, I'm a little confused, what makes you say it's a AI datacenter? Are there any increasing or commitments on the investments once you deploy the INR3,500 crores?

Swiggy Limited

Analysts/Institutional Investor Meet/Con. Call Updates Swiggy Limited has informed the Exchange about Transcript of the Earnings Conference Call for Analysts and Investors held on October 30, 2025 · 2025-10-30
Congrats on a sharp improvement on CM at the QC. So Rahul, as in the past, when you gave some breakdown about how the CM actually fell in those quarters, if you could give a similar breakdown on how the CM improved from minus 4.6% to minus 2.6% across these 3 vectors, what you mentioned, which is ads and lower customer incentives and increased utilization. The reason for asking this question is I'm just trying to gauge what are the incremental levers for you over the next few quarters when you want to hit a kind of breakeven by Q1 '27.
Do you think lower customer incentive is really a lever from here on, given that competition has raised money. And as you said, the competition has not really gone down from the other players?
Swiggy Limited CC-Nov25.pdf · 2025-10-30
Congrats on a sharp improvement on CM at the QC. So Rahul, as in the past, when you gave some breakdown about how the CM actually fell in those quarters, if you could give a similar breakdown on how the CM improved from minus 4.6% to minus 2.6% across these 3 vectors, what you mentioned, which is ads and lower customer incentives and increased utilization. The reason for asking this question is I'm just trying to gauge what are the incremental levers for you over the next few quarters when you want to hit a kind of breakeven by Q1 '27.
Do you think lower customer incentive is really a lever from here on, given that competition has raised money. And as you said, the competition has not really gone down from the other players?

Indegene Limited

Indegene Limited CC-Jun25.pdf · 2025-08-01
Manish, I had one very basic question. Of late, we've started shifting to Q-o-Q in terms of talking about numbers. Any reason why you started shifting towards Q -o-Q instead of Y-o-Y? Do you think now the business has become kind of a linear, and we should measure it on a sequential basis?
Got it. Second question, Manish, is we have been reading a lot from outside about the uncertainty of what the life sciences or big pharma are going through. Some of them also have been going through C-level changes off late and some of them are of your top accounts as well. So in your discussions with the clients, do you see any hesitation for them to start on certain large projects? Or you think, no, the other thing is actually true that when things are uncertain, we need to reduce cost and hence, we'll become more relevant. The place I'm coming from is most of the investors still think that our business is tilted towards the discreti onary part of the spend of life sciences, it being on S&M. So if you could clarify, that will be helpful.
Indegene Limited CC-Dec24.pdf · 2025-01-30
Thank you for the opportunity. Manish and Suhas, good to talk to you in the new year. Manish, I had just only one question. There's a lot of anxiety around the drug pricing under the Trump administration because apparently the new secretary is going after the big pharma in terms of lowering the very high prices of drugs. You mentioned at the start that drug pricing is actually on a downward trend. Maybe you could elaborate, how do you think this will play out in terms of the S&M spending of the big pharma companies and how it will benefit us or be against us in the near to future term?
Got it. Thank you, Manish. My second and last question Suhas is to you. I think a lot of questions were asked to you around this movement in the net headcount. My question is if I think Manish also said we are going to use more automation to lower the dependence on non-core tech stuff. So, should we think this to be a margin tailwind for us going forward? And a related point is, if I look at your metrics what you report, your offshore mix is actually on a downward trend. It has almost dropped by 300 basis p oints last seven to eight quarters whereas onsite is going up. So are you letting go more people in India while the on-site addition is as per the ramp ups?
Indegene Limited CC-Sep24.pdf · 2024-10-28
Thank you for the opportunity. Thank you, Manish, and Suhas for the presentation. I had a couple of questions. First, Manish, good to see growth coming to your top accounts. Given that there is stability happening here, should we expect the growth momentum on your side to improve from here? Where I'm com ing from is, you know, in the opening comments you said the pharma industry is expected to stabilize and grow better compared to last year. Last year we grew around 8% year on year on reve nue. So should we expect the growth improvement over the next couple of quarters to be less?
Okay, Manish, the second question is on your omni -channel business. I think Suhas referred to certain project-related and consulted businesses over there.
Indegene Limited CC-Jun24.pdf · 2024-08-01
Thank you for the opportunity. Manish, thank you for the very detailed opening remarks where you spoke in detail about your top accounts and your ambition in the medium to long term. I have one question over there. If you could share what are the timelines you're looking to grow from this 40 to 100 on your top and the next two from 25 to 100? In the context of what happened in the history, how long did it take you to scale up these accounts? How do you go about it in terms of cross-selling? And what are the key impediments in achieving that? The place where I'm asking you from is while we look at the time it all looks very strong, b ut the growth rates what we cu rrently have are just around 10%, 11% year-on-year, while the numbers you're talking about are much, much higher. So if you could give some path over there, that would be helpful?
Got it. Thank you. So Manish, this was my second and last question. Sorry if I missed it in your opening remarks. But if you look at your top 5, top 10 account portfolio, top account has done well, whereas the remaining top 2-5 or call it 2-10 there is still a weakness. I think you mentioned that you have some confidence on those growth-recovering paths. If you could tell us what kind of projects are these and by when do you think the ramp -up of these will happen in the course of Fiscal 25?

Indiamart Intermesh Limited

Indiamart Intermesh Limited CC-Dec24.pdf · 2025-01-21
Yeah, thank you for the opportunity. I just had this question on surprise paying subscriber number, minus 3.7%. Even in the worst of the last few quarters, you were at a positive number of around Rs. 2,000 odd. So, what surprised you negatively? And by when do you think we'll again go back to a positive number, if at all? and sustaining this collection growth rate in double -digit, is it possible sans the net subscriber addition for you?
And my question on whether you can sustain this double -digit customer collection growth in the fact that addition has gone negative?

L&T Technology Services Limited

L&T Technology Services Limited CC-Dec24.pdf · 2025-01-15
Thank you to the management team and congratulations on the deal wins & the acquisitions. My question is more on financials. So , if I look at your segmental margins for the segment this quarter there was a substantial improvement in the Tech margins. And also , if you look at, I mean if you could explain why this Tech margin has jumped up almost 300 bps on a sequential basis?
Got it. And is it also a reason why your fixed price contribution went up from 37% to 41%?
L&T Technology Services Limited CC-Jun24.pdf · 2024-07-18
So, Rajeev and Amit, just one small clarification. When you say to the $1.5 billion run rate in some quarter of FY25, does it include any inorganic means, because otherwise from $300 million what you started in Q1 $297 the growth numbers are actually out of sync of your 8%-10% guidance for FY25?
Amit, one follow-up to previous Mihir's question on the breakdown you gave around the building elements of 8%-10% guidance for FY25, basis the deals what you've already won at the end of Q1, would you say 60%-70% of whatever growth number is already in pocket and the remaining would be the work-in progress for the remaining nine months?

SAGILITY LIMITED

SAGILITY LIMITED CC-Sep24.pdf · 2024-11-27
Yeah. Thank you to the management. My question is related to previous Abhishek's question. And if you look at, some of the features what President Trump made was around reducing these costs around insurance. And during the last few years of Biden Presidency, we had seen some leniency in terms of drop in premiums, which almost doubled the enrolment. So the question is, if that were to expire at the end of 2025, how much part of the business is linked to number of enrolments from government sponsored insurance company? That is the first question.
Got it. Thank you, sir. My second and last question is around this captive sourcing proliferation in India. Many of the large U.S. healthcare Payers are also opening or increasing their captive presence in India. Is that in an area which is not currently with us or do you think there are certain overlaps in the existing business which may be moving to this captive shift, if at all they were to grow?

Netweb Technologies India Limited

ETERNAL LIMITED

ETERNAL LIMITED CC-Mar24.pdf · 2024-05-13
So Akshant, can you talk about the vesting schedule of the new ESOP policy? And longer term, what is the thinking of the management on the ESOP pool? The last pool, what we issued was large enough at 5%, when the market cap was much smaller. But even today, the 2% looks a large amount. So thinking around the new ESOP pools also will be helpful.
Okay. Let me ask you in another way. This quarter, we roughly had INR 160 crores of ESOP cost. So let's say, on a annual run rate basis, INR 650-odd crore annually. How should we think about next 2 to 3 years?

BIRLASOFT LIMITED

BIRLASOFT LIMITED CC-Dec23.pdf · 2024-01-24
Angan, congrats on a good quarter. I had a few questions. First is, despite the furlough headwind, you were able to grow -- pretty strong growth in Q3. So should we think that now from here on, the growth to accelerate in Q4 and the rest of fiscal '25?
Sure. Thanks for that Angan. And then second and last question is, is your senior leadership hiring largely done? Or are there any roles left to be filled? And two, with all the senior leadership being done in place, is there any material impact on the costs, what we should be thinking about from a forward perspective?