Stockrabit · Analysts
Questions across 12 calls

Abhishek Shindadkar

InCred Capital

Tata Elxsi Limited

Tata Elxsi Limited · 2026-07-14
Hi, thanks for the opportunity. My first question is regardi ng this one-time cost that we had to bear for a customer. Probably I missed the customer vertical, but I presume it is US and transportation. But what I wanted to understand, is this a generic trend that customers are asking, you know, the vendors to onboard subcontractors because we heard a similar trend in one of the other IT companies as well? And, you know, just wanted to understand what could be our reaction in case, you know, there are other customers who come back with some similar demands? That's the first question. The second question is on the wage hikes from 2Q. Can you just quantify given that we are doing it for a company-wide versus staggered last year? And the third one is for Nitin. Nitin, you mentioned that the AI spend is curtailing ER&D. I mean, that was a comment you made. Can you just elaborate in terms of what are the clients thinking given that, you know, the perception was that ER&D is something, that would given its revenue generating may not be paused immediately? Thank you for taking my question.
So, this is more about right shifting of the budgets rather than deferment or let's say perpe tual deferment, right?
Tata Elxsi Limited CC-Jul26.pdf · 2026-07-14
Hi, thanks for the opportunity. My first question is regardi ng this one-time cost that we had to bear for a customer. Probably I missed the customer vertical, but I presume it is US and transportation. But what I wanted to understand, is this a generic trend that customers are asking, you know, the vendors to onboard subcontractors because we heard a similar trend in one of the other IT companies as well? And, you know, just wanted to understand what could be our reaction in case, you know, there are other customers who come back with some similar demands? That's the first question. The second question is on the wage hikes from 2Q. Can you just quantify given that we are doing it for a company-wide versus staggered last year? And the third one is for Nitin. Nitin, you mentioned that the AI spend is curtailing ER&D. I mean, that was a comment you made. Can you just elaborate in terms of what are the clients thinking given that, you know, the perception was that ER&D is something, that would given its revenue generating may not be paused immediately? Thank you for taking my question.
So, this is more about right shifting of the budgets rather than deferment or let's say perpe tual deferment, right?
Tata Elxsi Limited CC-Jan26.pdf · 2026-01-13
Yes, thanks for the opportunity. And congratulations on a great quarter. The first question is on the Media business. If I heard correctly, did you mention that part of 50% of the business has recovered and you're hoping for the recovery in the balance ? Is that comment related to one of the larger accounts? And if yes, any status in terms of bottoming out of challenges in that account. That's first. And the second to Gaurav, sir, you mentioned the wage hike impact for juniors in this quarter. Can you also quantify the impact that could come in the fourth quarter for the wage hikes for the remaining? Thank you for taking my question.
That is helpful. And just a follow -up on the answer. Sir, if we look at the increase in the revenue by contract mix side and also see the recovery in utilization and the recovery in the top account, is it fair to assume that in many large accounts of each of the three verticals, our mix is primarily towards time and material?
Tata Elxsi Limited CC-Jun24.pdf · 2024-07-10
Thanks for the opportunity and congrats on a good quarter. Sir, two questions. This quarter, we saw an increase in the on-site mix presumably maybe because of the ramp-up. But any color in terms of what could the mix be or what is a sustainable level? And the second is on the headcount, anything that you want to add in terms of the numbers of headcount that we have seen for the quarter? Is this a one-off or the mix could keep on changing as you highlighted as you hire the freshers?
So just to clarify, the net reduction in the employee was more about prudence rather than an uptick in attrition. I mean I know the attrition number is flat quarter-on-quarter. But there is no change in the quarterly annualized attrition for us, right?

Tata Consultancy Services Limited

Tata Consultancy Services Limited CC-Jul26.pdf · 2026-07-09
Hi, thank you for the opportunity. At the start of the call, there was a mention about productivity, which is 10% to 15%. Can you just help us understand, is this on an ACV basis or a TCV basis? And how should we reconcile this with some of the data points that have been talked in other forums that the total $1 trillion spend is going to compress by almost $300 billion over the next few years? Can you just reconcile that?
Just to follow up. Typically, the understanding was the productivity could be 3% to 5% annually. So, if it's a 5-year deal, is it fair to assume that this number is spread over a 5-year period every year or how does that play out?

LTM Limited

LTM Limited CC-Jan26.pdf · 2026-01-19
Venu, a question for you. Can you extend your observations about the High- Tech customers' productivity journey to other customers in verticals? And also, if you can, kind of do the customer segmentation, meaning, is this trend happening more in the Fortune 100, Fortune 200 customers today. So this is more industry specific rather than a company specific. And part two of that question is, I heard people saying it could take longer for the other below 20 million customers. So maybe if you can just highlight, what is the timeframe that we are looking at, at this overall productivity journey? Thank you for taking my question.
Thank you. Best wishes for the rest of the year.

Tech Mahindra Limited

Tech Mahindra Limited CC-Jan26.pdf · 2026-01-16
Hi, thanks for the opportunity and congrats on a good quarter. 2 questions. The first is on the gross margin expansion. Have we reached the peak or there is still juice to be taken out on the gross margin side? That's first. And second, Mohit, to you, it seems that we are probably on the favorable side of vendor consolidation deals in telecom. Outside of the furlough impact in this quarter, anything or any reason to believe the same or in contrast for the Financial Services sp ace? Or if you can give a color in terms of the vendor consolidation deals in the Financial Services space. Thank you for taking my questions.
Super helpful. Thank you for taking my questions, and best wishes for the rest of the year.

Sonata Software Limited

Sonata Software Limited CC-Dec24.pdf · 2025-02-06
Okay. My first question is to Samir. So just wanted to understand the timeline in terms of the communication from the large client in terms of r amp down and projects cancellations and so on and so forth. Can you just help us understand the timelines? Was it like towards the start of the quarter, mid or towards the end? That is first -- the second question is to Jagan sir. Is this a new margin reset for the company? And -- or do you think margins can go back to at least 17%, 18%? Just third bookkeeping question is -- was there any deal transition cost that we incurred for the business that grew in the quarter? Thank you for taking my question.
Third question was about…
Sonata Software Limited CC-Dec23.pdf · 2024-02-01
Congrats on a good quarter , sir. Just a clarification regarding the comments made earlier by Samir you mentioned about green shoots in the high -tech vertical and also for the large client. So, just wanted to clarify was there any challenge esp ecially that we are calling out as a green shoot, because I remember in the last quarter we had mentioned that because of the fiscal year end for our large client, there was a delay in terms of the bookings and conversion?
Jagan, sir, if you can just clarify what you said about the payment challenges and because of which you are raising debt that would be helpful. Thank you again for taking my question and best wishes for you.

Tata Technologies Limited

Tata Technologies Limited CC-Sep24.pdf · 2024-10-28
Hi, thanks for the opportunity. Just 2 questions. First, you mentioned about a right shifting of some of the work from customers. So, what I wanted to understand is that when did the customers kind of highlighted the same to you? Was it early part of the quarter, mid - quarter or it was a very short notice kind of a scenario. The second, you mentioned about the chip threat from China, esp ecially for European auto. Now is this a more structural problem? Or are you feeling -- I mean, what's your sense? Is this a structural or the resolution could be early next year?
Very helpful. Just a follow -up to your answer. Does that mean that the tariffs on Chinese OEMs can keep on increasing? What is your assessment basis your interactions with the industry participants?

L&T Technology Services Limited

L&T Technology Services Limited CC-Sep24.pdf · 2024-10-16
Hi, good evening and c ongrats on a good quar ter. I have couple of questions. The first one is regarding the furloughs, especially for the Aero and also your comments on the Tech furloughs. So, the commentary by one of the OEMs in Aero has been relatively weak, s o any colour in terms of furloughs for that space? And the second is on the Tech side. So, is your commentary on furloughs driven by the ramp- up of the project or it is generally in the Tech space, furloughs this year could be lower than last year? That's first question. The second question is for Rajeev. The accounts receivables number or the absolute increase has been material over H1 compared to the revenue growth. Now is this largely relate d to one cybersecurity project o r are we seeing -- generally seeing a delayed cycle across customers a nd the last one is for Amit again. Any comment on the sequential decline in the number of active clients? Thank you for taking my questions.
Understood. And just a follow -up to that w e have been referring to a milestone payment also. So, assuming that comes in, would our free cash flow to net income number be similar to FY24 in FY25?