Stockrabit · Analysts
Questions across 51 calls

Abhishek Kumar

JM Financial

SAGILITY LIMITED

SAGILITY LIMITED CC-Dec24.pdf · 2025-02-05
Yeah, hi. Good evening, thanks for taking my question. Great quarter. First is, on revenue, it is two part question. One is, the growth in nine months and this quarter especially has been above the range that we have spoken about, which is likely growth over the medium term. So, question is, did the growth come above our quarter beginning expectation, because of the open enrolment period, etc? Related question is, how does it exactly help? Does it help you, the open enrolment period when there are more number of members joining the insurers or payers that you are serving? Or irrespective of that, just because of the churn, there is an increase in volume?
Great. Second question is on the Provider side. You did mention at the beginning of your presentation that the growth on the Provider side was much stronger. I couldn't find it on the PPT, but I remember it was 30% plus. So is that a conscious strategy to expand more, penetrate deeper the Providers? And also, does the open enrolment period benefit Providers as well like they do Payers? Thank you.
SAGILITY LIMITED CC-Sep24.pdf · 2024-11-27
Yeah, hi. Good afternoon, and congratulations, first of all, on your listing and on your first earnings presentation. My first question is on the business itself. Your top clients drive a lot of your revenues. And you've said that you still have a lot of opportunities to grow these larger accounts. Just wanted to understand, how do you look at mining these accounts? Is it more number of services? Is it more volume that that will drive the growth? And, also, if you can touch upon the competition in these accounts, who would be the vendor if you were to take market share away from some other vendors indeed? That would be my first question.
Okay. That's very clear. Just again on competition in your top three, do you come across the larger IT services players? Because healthcare and life sciences is big vertical for them as well. And a lot of t hose guys are talking about using GenAI to get into a multi -tower kind of deals that includes BPO and other verticals. So does that pose a competition, for a pure-play BPO company like us?

Indegene Limited

Indegene Limited CC-Dec24.pdf · 2025-01-30
Hi, good morning. Thanks for taking my question. You know, one of the IT services players recently indicated that there is kind of a tug of war between V eeva and Salesforce in the life sciences space. I just wanted to pick your brain on what you are seeing and if either of these end up getting higher share, does that impact us in any way?
Got it. Second question is to Suhas, this earnout reversal. I just wanted to understand given that we keep looking for new acquisitions, etc. How do we ensure that the acquired entities due diligence is done, what is the risk governance framework, etc.? So that we don't end up acquiring companies who don't perform as per the initial expectations and hence any earn out possibilities.

Zee Entertainment Enterprises Limited

Zee Entertainment Enterprises Limited CC-Dec24.pdf · 2025-01-23
First question is on, in November the Board had outlined two, three valuation criteria. One of them was a dividend payout of 25% of consolidated PAT. So, I was wondering can that be construed as a formal dividend policy or a formal policy will be rolled out sometime in the near future?
The other criteria were around growth in margin for the next four quarters. Will you be able to give a more detail around that? What would be the number that the Board has set for the performance evaluation?
Zee Entertainment Enterprises Limited CC-Jun24.pdf · 2024-07-31
My first question is on fundraise again. I was curious about the FCCB route. Any logic or any rationale for selecting this instrument over any other instrument because it exposes us to foreign currency variations, so any thoughts on this?
Second question is on business. Punit, the worry is, while we are reducing cost, is there a fine line between cutting the fat and cutting into growth muscle of the Company? We have seen sequential decline in OTT revenue this time , I am not sure if it is seasonal, or it is because we are spending less on content, etc. So, how should we balance margin expansion with our growth aspiration?

Tata Technologies Limited

Tata Technologies Limited CC-Dec24.pdf · 2025-01-21
I think a good performance in a difficult environment. First question, Warren, you mentioned in your initial remarks that you expect the slowdown to be temporary. Just wanted to understand how do you define temporary? Is it like two quarters, a year or longer? And a related question is, what are the kind of conversations that we are having with some of these OEMs, which are under pressure, especially the mass market OEMs in Europe, etcetera. Are there any talks around more outsourcing, larger cost takeout deals that will help them in the current environment? Thank you.
That's very detailed. One question for Savitha. Savitha, our medium-term margin aspiration of 20% plus, do you think in the current environment that kind of gets pushed out? I know we have not given any timeline, but still given the growth challenges, etcetera, do you think it will be a lot more gradual now to reach to that aspiration level?
Tata Technologies Limited CC-Sep24.pdf · 2024-10-28
Hi, good evening and thanks for taking my question. First is on second quarter revenue growth. When I look at the constant currency growth sequentially for services, it was muted at 0.3%. So, was it in line with what you were expecting? Or were there some negative surprises through the quarter? And related question is, we saw a sharp jump in offshore revenue and one of your peers indicated that clients are correctively asking for work to move offshore. So, did that happen in our case? And if yes, did that had a deflationary impact on the revenues for the quarter?
Sure. Next, I had a question on margins. We've done well in terms of utilization and also offshore mix. Now going forward in the second half, with probably wage hike, I'm not sure if you decided on the wage hike. But with that still ahead of us, how should we think about margins going forward?

Wipro Limited

Wipro Limited CC-Dec24.pdf · 2025-01-17
Congratulations on a very good performance. My first question is on growth and related to that is on guidance. Last two quarters, we have now been coming closer to the top end of our guidance, which is not happening in quarters prior to that. We just wanted to understand what has changed. Are the mid-quarter negative surprises kind of abating, and that is helping us hit the top end, or the demand environment has been improving. So, that is on the performance and related to that on guidance. Next quarter, despite the fact that furloughs will be absent etc., at the midpoint, we are still looking at a flattish growth, similar to 3Q. So, some of the puts and takes for our 4Q guidance. Thank you.
Sure. Maybe one question on margin. Aparna, there was a sharp decline in depreciation this quarter. So, is that now a more normalized level as well as depreciation is concerned, or was there any one - off there that we should be aware of? Thank you.
Wipro Limited CC-Sep24.pdf · 2024-10-17
My first question is on the guidance. Is this just the furloughs or are we also seeing flow-through of the client-specific challenges that you mentioned, which kind of informing slightly mutish guidance for next quarter?
Next question is on your Energy and Utilities. You had mentioned last quarter also there are certain client-specific challenges here. Are these now behind us or are they still there in front of us? How should we think about E&U as a continuous headwind to our overall growth?

LTM Limited

LTM Limited CC-Dec24.pdf · 2025-01-16
Again, sorry to harp on the productivity pass back. We have heard of 20%, 25% productivity coming through AI, especially in product development. So, in that context, just 5% decline sequentially in your Hi-Tech vertical seems small. So, does that mean either we were able to offset some of that pass through or it is just the beginning of sharing some of the productivity gains. It might have started in one section of the relationship. And it can continue because even we have discussed earlier the productivity gains are significantly higher than what we are seeing right now in terms of decline.
Sure, maybe just to follow up. So, do we expect growth in FY26 over FY25, especially in this account or in Hi-Tech vertical, given the continuation of productivity pass back?
LTM Limited CC-Sep24.pdf · 2024-10-17
I have two questions on furloughs and let me ask them together. First, I just want to understand how to read furloughs? When you say furloughs this year would be a more normalized furloughs, does that mean that the pressure on budgets are easing and therefore, because furloughs generally coincide with budgeting cycle. So does that kind of suggest that budget next year could also be normal? That's question number one. And question two is some of your peers have said that furloughs this year would be similar to last year. But that could be because of difference in portfolio clients, etcetera. So, when we say it is more normalized, which areas or which vertical we are seeing furloughs normalizing? And is there any pockets where you see that furloughs could still be similar to last year?

Tata Consultancy Services Limited

C.E. Info Systems Limited

C.E. Info Systems Limited CC-Sep24.pdf · 2024-11-08
I just wanted to again harp on the growth that we have seen. Clearly, the growth was slightly below what the street was expecting. So 13.5% growth in the first half year-over-year, is this as per your own initial expectation? Or has it disappointed you also?
Okay. No, that's very clear. So the only question why maybe so many participants have asked this is we have a very strong conviction in our FY '27-'28 guidance of INR1,000 crores. But the first half, we are tracking much below the required rate. I mean it's difficult to understand, right, if there is a slowdown near term, but we have a conviction, which is 5 years out.
C.E. Info Systems Limited CC-Jun24.pdf · 2024-08-12
First is on IoT. I just first want to understand, given that the fund approval has come just last week, and that means essentially almost half of Q2 also gone. So are we looking at a softer Q2 also? Or is there kind of a pent-up demand in hardware and we can make up for the lost time in Q2?
Okay. Second, on the SaaS revenue itself, my understanding was that it’s kind of sticky on the installed base. So I was a little surprised at the sequential decline from Q4 level of the software revenues. So is it because some of the hardware where we have given a kind of annual subscription were not renewed? And if that's so, if you can just give us a percentage of retention?

Infosys Limited

Updates Infosys Limited has informed the Exchange regarding 'Earnings Call Transcript'. · 2024-10-17
Yeah. So I just wanted to double click on the nature of smaller deals. You had mentioned in the prepared remarks that discretionary spend is re stricted to certain sub-segments of Financial Services. So, in that context, are these smaller deals mostly in those subsectors or these deals are also non-discretionary, essentially, smaller POs that the client is releasing against a large lump-sum contract? That is my first question.
All right. So okay. Second question is on wage hi ke. Could you quantify the impact that we should bake in from wage hikes in 4Q and in 1Q of next year?
Infosys Limited CC-Sep24.pdf · 2024-10-17
Yeah. So I just wanted to double click on the nature of smaller deals. You had mentioned in the prepared remarks that discretionary spend is re stricted to certain sub-segments of Financial Services. So, in that context, are these smaller deals mostly in those subsectors or these deals are also non-discretionary, essentially, smaller POs that the client is releasing against a large lump-sum contract? That is my first question.
All right. So okay. Second question is on wage hi ke. Could you quantify the impact that we should bake in from wage hikes in 4Q and in 1Q of next year?

PVR INOX Limited

PVR INOX Limited CC-Sep24.pdf · 2024-10-15
See, this quarter, in many ways, represent a typic al probably period for us where a couple of months were very strong, 1 month was relatively soft, we did reruns, etcetera. And still, after all that, the occupancy for the quarter was 25.7%. So is that the new normal that we should look at in the movie exh ibition business? Because obviously, we can't expect every quarter to be like Q2 of last year or Q3 of this year. So just your view on what should be the new normal for occupancy? And if it has to go up on a sustainable basis, what would it take for the occupancies to move up?
Okay. That's helpful. So just picking up on that, based on your conversations, do you think that the pipeline for next year by studios, etcetera, is looking better compared to what it has been so far this year in terms of just the quantity?

HCL Technologies Limited

HCL Technologies Limited CC-Sep24.pdf · 2024-10-14
My first question is specifically on the Services guidance. If my calculations are correct, at the lower end it seems there'll be a marginal decline in terms of CQGR for our services guidance. So, I just wanted to understand what are we building in for lower end as well as an upper end? Anything specific that we should keep in mind?
Okay, maybe if I can just follow up on that. We had mentioned a couple of quarters back that Verizon deal might we have to offshore. We are going to complete one year somewhere during Q3 or Q4. Is that something which is kind of keeping the lower end at a kind of flattish for the next two quarters?

Tech Mahindra Limited

Tech Mahindra Limited CC-Jun24.pdf · 2024-07-25
Maybe to Rohit, Rohit you had indicated plans to reduce our cost annually by $250 million and also spend 1 .5% of th e revenue in first year of turn around which translates to around $ 100 million. Just wanted to gauge our progress against this target, looks like good cost reduction this quarter, but there were some business-as-usual benefits that you indicated. So, how are we now placed against that target? And if we can give any indication of the cadence of this cost reduction or investment to the rest of FY25? Thank you.
Just one quick follow up on growth. Just wanted to understand is the demand environment similar to what we had envisaged at the beginning of the year and if things improve, does that present an upside opportunity to our margin target? Thanks.

KPIT Technologies Limited

KPIT Technologies Limited CC-Jun24.pdf · 2024-07-24
Yes, hi, good evening. Thanks for taking my question. My first question is on your business units, the architecture and middleware consulting has really been leading our growth for many quarters now. Just wanted to understand, is this a lead indicator for the growth in other areas, given a strategy of going in with our middleware proposition and then taking up some of the saloon services work. So how should we look at middleware consulting growth, your views please?
Sure. And next question is on competition. A lot of the IT services peers. also have spoken about on softness, there is cost pressure even the European pure-play R&D players are ramping up their delivery in India, etc. So how do you see competition? Is it intensifying? Do you have a niche? And also on the deals that we win, are these RFP deals or these are like sole sourced deals, any color around competition? Thank you.