Stockrabit · Analysts
Questions across 20 calls

Ankur Rudra

JPMorgan

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 May 08, 2026 · 2026-05-08
Nice to see the acceleration on Food Delivery. I want to start there. Thanks for the comments on Toing. I wanted to understand in the medium term, are you not potentially cannibalizing the main opportunity for this will be the parent food app as so far, it doesn't seem like you're adding new menus and new restaurants, which is potentially reducing your fees, delivery fees or platform fees there?
So moving to the quick commerce side, I wanted to double-click on the medium-term targets a bit. You talked about 5x growth NOV and 5% kind of margin in the medium term, which probably implies 50%-70% or if you look at this on a 3-4 year basis, is that number one, fair to expect? And two, what needs to happen in the industry structure for this to be possible?
Swiggy Limited CC-May26.pdf · 2026-05-08
Nice to see the acceleration on Food Delivery. I want to start there. Thanks for the comments on Toing. I wanted to understand in the medium term, are you not potentially cannibalizing the main opportunity for this will be the parent food app as so far, it doesn't seem like you're adding new menus and new restaurants, which is potentially reducing your fees, delivery fees or platform fees there?
So moving to the quick commerce side, I wanted to double-click on the medium-term targets a bit. You talked about 5x growth NOV and 5% kind of margin in the medium term, which probably implies 50%-70% or if you look at this on a 3-4 year basis, is that number one, fair to expect? And two, what needs to happen in the industry structure for this to be possible?
Analysts/Institutional Investor Meet/Con. Call Updates Swiggy Limited has informed the Exchange about Transcript · 2026-01-29
Just a question on the contribution margin discussion earlier. You've said that 25% of your stores are positive and the contribution margin per order actually worsened to INR19 per order this time. I'm just curious about two things. One, what percentage of the stores do you need to be positive to breakeven over the next 2 quarters? And related, if growth slows down, as you've alluded to earlier in the call, maybe sequentially if your order volumes decline, given competitive intensity, etc., you want to give up your orders. Won't that hurt your throughput and hence, this target?
Swiggy Limited CC-Feb26.pdf · 2026-01-29
Just a question on the contribution margin discussion earlier. You've said that 25% of your stores are positive and the contribution margin per order actually worsened to INR19 per order this time. I'm just curious about two things. One, what percentage of the stores do you need to be positive to breakeven over the next 2 quarters? And related, if growth slows down, as you've alluded to earlier in the call, maybe sequentially if your order volumes decline, given competitive intensity, etc., you want to give up your orders. Won't that hurt your throughput and hence, this target?
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
Good to see cash burn shrink rapidly this quarter. Firstly, on quick commerce, I noticed that while GOV growth is quite strong, the NOV growth is very similar to last quarter, about 17% to 18%. And the MTU growth was probably a bit lighter at about 8%-9% versus 11% last time. I'm just curious how the sale event may have helped you in terms of user acquisition and growth in general? And also, if there's any sort of impact on GST on the business and how that might impact you in 3Q?
Just I think a related question was, was there any impact of the GST cuts in the cadence of the business?
Swiggy Limited CC-Nov25.pdf · 2025-10-30
Good to see cash burn shrink rapidly this quarter. Firstly, on quick commerce, I noticed that while GOV growth is quite strong, the NOV growth is very similar to last quarter, about 17% to 18%. And the MTU growth was probably a bit lighter at about 8%-9% versus 11% last time. I'm just curious how the sale event may have helped you in terms of user acquisition and growth in general? And also, if there's any sort of impact on GST on the business and how that might impact you in 3Q?
Just I think a related question was, was there any impact of the GST cuts in the cadence of the business?
Analysts/Institutional Investor Meet/Con. Call Updates Swiggy Limited has informed the Exchange about Transcript · 2025-05-09
Hi. Thank you for very much taking my questions. I wanted to start on the food side of things. You made a statement about expanding your Bolt initiatives to 500 cities, you have given us some color there as well. I just wanted to get a bit more clarity in terms of what your experience has been. This is in the context of your peer actually shutting this line of shorter duration food delivery down, suggesting demand has not been as helpful. Can you maybe talk about what you are seeing different which gives you more confidence here?
Thank you. I appreciate it. Just moving to the quick commerce side. I wanted to first get a comment on the net order value growth or the GOV growth this time. The NOV growth was around 16-ish- percent, GOV around 20%. Now, this is a bit of an acceleration but not meaningful given the context you have had, 3x the number of store edition this time versus last quarter. Maybe can you talk about perspectives of what drove that difference versus last time. And if you can also add any updates on store addition from here given you have achieved your previous targets.
Swiggy Limited CC-Mar25.pdf · 2025-05-09
Hi. Thank you for very much taking my questions. I wanted to start on the food side of things. You made a statement about expanding your Bolt initiatives to 500 cities, you have given us some color there as well. I just wanted to get a bit more clarity in terms of what your experience has been. This is in the context of your peer actually shutting this line of shorter duration food delivery down, suggesting demand has not been as helpful. Can you maybe talk about what you are seeing different which gives you more confidence here?
Thank you. I appreciate it. Just moving to the quick commerce side. I wanted to first get a comment on the net order value growth or the GOV growth this time. The NOV growth was around 16-ish- percent, GOV around 20%. Now, this is a bit of an acceleration but not meaningful given the context you have had, 3x the number of store edition this time versus last quarter. Maybe can you talk about perspectives of what drove that difference versus last time. And if you can also add any updates on store addition from here given you have achieved your previous targets.
Analysts/Institutional Investor Meet/Con. Call Updates Swiggy Limited has informed the Exchange about Transcript of the Earnings Conference Call for Analysts and Investors conducted on December03, 2024 · 2024-12-03
Congratulations on the listing and a strong quarter and good to see the growth pick up across both the core businesses. Maybe on the Bolt initiative, if I could focus on that a bit more again, how is this impacting consumer behavior, this launch, because it's a clear innovation that we've seen for the first time in the last 10 years of food delivery in India? Is this creating new demand or at the moment are you just seeing existing demand , what was probably lower order value , shift to this? And if you can give us some color in terms of, I think you gave us some color in terms of average order value, but also in terms of how the unit economics will work here versus the core food delivery offering.
Just one clarification on Bolt. You mentioned in the prepared remarks that it's grown to 5% of the volume in the 8 to 10 weeks of launch. Is this adjusted for the locations where it's launched or is it increased to 5% of overall volume?
Swiggy Limited CC-Sep24.pdf · 2024-12-03
Congratulations on the listing and a strong quarter and good to see the growth pick up across both the core businesses. Maybe on the Bolt initiative, if I could focus on that a bit more again, how is this impacting consumer behavior, this launch, because it's a clear innovation that we've seen for the first time in the last 10 years of food delivery in India? Is this creating new demand or at the moment are you just seeing existing demand , what was probably lower order value , shift to this? And if you can give us some color in terms of, I think you gave us some color in terms of average order value, but also in terms of how the unit economics will work here versus the core food delivery offering.
Just one clarification on Bolt. You mentioned in the prepared remarks that it's grown to 5% of the volume in the 8 to 10 weeks of launch. Is this adjusted for the locations where it's launched or is it increased to 5% of overall volume?

Tata Consultancy Services Limited

Tata Consultancy Services Limited CC-Sep25.pdf · 2025-10-09
Thank you. I just wanted to understand this AI transformation you're doing. What does it entail in terms of existing client engagements? Do you have a sense of potential productivity gains or any kind of change in scope from a deflation or inflation perspective on your existing services as you transform?
I just want to clarify a couple of things. One, was there any headwind on the client this quarter, which had a cybersecurity incident in terms of your revenues and margins? And, the second clarification was if the redundancy charge, we took this time, given 1% was impacted. Should we expect something similar in future quarters also?
Tata Consultancy Services Limited CC-Dec24.pdf · 2025-01-09
You mentioned there are early signs of revival in some of the verticals you highlighted. Could you maybe elaborate what is the nature of these signs, at least basically the nature of the deals you've signed this quarter or the nature of pipeline, client conversation intent. Just some more color would help.
I think last quarter, you had said, Krit hi, that the deal cycles were extending. And in the following 3 months, it is already recovered. Is that how we should take this?
Tata Consultancy Services Limited CC-Sep24.pdf · 2024-10-10
Thank you very much for taking my question. Just maybe a few questions, maybe starting with demand. It seems like this was a challenging quarter for international business, slightly soft on our headline numbers and also signings. Could you maybe elaborate in terms of the nature of demand environment? Has it begun to perhaps deteriorate overall after a couple of promising quarters? And should one assume that recovery perhaps had pushed out a bit from here?
Okay. Thank you, Krithi. And maybe just on Financial services, if you could dig in a bit deeper and add some more colour in terms of which are the segments of the broader Financial services portfolio where you're seeing strength? And I think you also mentioned Manufacturing a little bit concerned if you can elaborate on that one as well. Thank you.
Tata Consultancy Services Limited CC-Jun24.pdf · 2024-07-11
We've seen an element of pickup in overall growth momentum this quarter. However, if I peel out the growth from India, the growth in the international business is about 1.5% both sequentially and year -over-year on constant currency terms. So, in this context and the fact that deal wins are sort of weaker than the last four quarter average, the question is, what gives you the confidence that fiscal '25 will truly be better than fiscal '24?
Okay. Appreciate it. The following question for me would be on Generative AI. You did highlight that your overall AI pipeline has strengthened. But if you just stay with Generative AI, how's that impacting your business? If you can give us some color in te rms of how it's impacting specific projects and customer perception. A related question is, do you feel that Generative AI in client conversations and client thinking is potentially creating a headwind for spending on IT services?

Hexaware Technologies Limited

Hexaware Technologies Limited CC-Dec24.pdf · 2025-03-07
Congratulations on the first quarter. So just a question, clarifying what's the organic growth for 4Q? Because I understand there was an impact of an acquisition, if you can clarify that to start with. Secondly, if you can talk a bit more about the broader demand environment you're seeing, especially with regards to the budgeting cycle in your top 30, 40 clients. Any color on discretionary spending that's coming through?
If you could elaborate a bit more, Keech, in terms of the impact, is the customer reaction to this uncertainty, any kind of freezing of programs which previously were decided? I mean, just talk us through in terms of how you see this play out right now and how it may play out going forward?

Infosys Limited

Updates Infosys Limited has informed the Exchange regarding 'Earnings Call Transcript'. · 2024-07-18
Hi, thank you, and good to see very good numbers after a while. Just wanted to get a sense of, Salil, what is the breakup of the very strong momentum this quarter, if you could, between the large deals that you have won over the last year? Any kind of improvement in execution of short-cycle business or discretionary business and potentially better ex ecution? And also when you answer that, if you can talk about how client conversations are changing, if there is anything turning a bit more positive, External Document © 2024 Infosys Limited 8 and any change in the momentum on the short-cycle deals, but large deals you can see is going on very strongly? Thanks.
Thank you. And from here on, you have seen th is change in Financial Services. In your client conversations, do you sense there is anything in par ticular, clients, especially in maybe the hi-tech space or energy and utility where you have highlighted, problems still persist or even manufacturing, which might change the client behaviour, maybe not this year, but into next year. What are the main things clients may be waiting for?
Infosys Limited CC-Jun24.pdf · 2024-07-18
Hi, thank you, and good to see very good numbers after a while. Just wanted to get a sense of, Salil, what is the breakup of the very strong momentum this quarter, if you could, between the large deals that you have won over the last year? Any kind of improvement in execution of short-cycle business or discretionary business and potentially better ex ecution? And also when you answer that, if you can talk about how client conversations are changing, if there is anything turning a bit more positive, External Document © 2024 Infosys Limited 8 and any change in the momentum on the short-cycle deals, but large deals you can see is going on very strongly? Thanks.
Thank you. And from here on, you have seen th is change in Financial Services. In your client conversations, do you sense there is anything in par ticular, clients, especially in maybe the hi-tech space or energy and utility where you have highlighted, problems still persist or even manufacturing, which might change the client behaviour, maybe not this year, but into next year. What are the main things clients may be waiting for?

ETERNAL LIMITED

ETERNAL LIMITED CC-Mar24.pdf · 2024-05-13
Congratulations on the profit milestone. On Blinkit, if I can start, we've seen a huge amount of experimentation that you've done on the ground, which seems to be yielding very good results. When you take this to completion, let's say, over the next two or three years, do you see yourself get to a point where you start moving beyond just quick commerce to other forms of delivery timelines also?
And maybe just a quick follow-up on that one. In terms of the next two or three years, your rollout plan is quite aggressive like you suggested. The business has been negative cash flow so far, will this remain the case as you go into a more accelerated rollout while maintaining 0% margins?
ETERNAL LIMITED CC-Sep23.pdf · 2023-11-03
Hi, thank you and again, congratulations for the quarter in terms of the profitability and the growth. Starting with questions on the food side, clearly, nice to see the monetization from platform fees, which seems to have helped your take rate to an extent. How do you think about user behavior as a combination of both the user delivery charges and platform fees? Do you think there is a limitation in terms of how much you can optimize this? Do users start thinking of the two together? Because obviously, the delivery charges have been falling because of your Gold program. But do you think this is one limiting point which you can’t optimize beyond a point.
Understood. On the Blinkit side, again, good to see store breakeven, given that your addition rate suggests 8% or so net adds for the next two quarters and you've already achieved breakeven. What prevents you from achieving profit breakeven much faster than your stated target?