Questions across 13 calls

Bhavik Mehta

JP Morgan

Tata Elxsi Limited

Tata Elxsi Limited · 2026-07-14

Hi, thank you. So, a couple of questions. Firstly, Manoj, if you can give some outlook on your three verticals given, you know, the Middle East conflict still remains in place. So, you know, how are the discussions with clients evolving on spending intentions for the next few quarters? And if you can, you know, segregate it across the three verticals, how they're different. And secondly is on margins. You did talk about some onshore investments and subcontractors as well. So how should we think about the margin trajectory going forward? I mean, is this like a one-time thing which is in the base now or it will just continue for the next few quarters? So any color on the margin outlook as well for the year?

Okay, got it. That’s helpful. Thank you.

Tata Elxsi Limited CC-Jul26.pdf · 2026-07-14

Hi, thank you. So, a couple of questions. Firstly, Manoj, if you can give some outlook on your three verticals given, you know, the Middle East conflict still remains in place. So, you know, how are the discussions with clients evolving on spending intentions for the next few quarters? And if you can, you know, segregate it across the three verticals, how they're different. And secondly is on margins. You did talk about some onshore investments and subcontractors as well. So how should we think about the margin trajectory going forward? I mean, is this like a one-time thing which is in the base now or it will just continue for the next few quarters? So any color on the margin outlook as well for the year?

Okay, got it. That’s helpful. Thank you.

Tata Elxsi Limited CC-Dec24.pdf · 2025-01-09

Thank you. Couple of questions. Firstly, Manoj, if you can talk about the outlook for the auto vertical in terms of when do you expect deal closure to normalize or deal ramp up s to normalize and by when we should go back to the kind of growth we saw in the first half? The second question is to Gaurav - if you can just give the margin walk for the quarter? And how should we think about the tax rate going forward because ta x rate has been quite low o ver the last couple of quarters? Thank you.

Okay, that's very helpful. Thank you.

Tata Elxsi Limited CC-Sep24.pdf · 2024-10-10

Thank you. So a couple of questions. Firstly, on the transportation vertical, we have seen very strong growth in the last 2 quarters. But when the environment ha s a lot of global OEMs cutting back on EV target and given your deal pipeline and the deals already closed, how should we think about the growth in this vertical over the next couple of quarters going ahead?

Okay. Got it. That's helpful. Secondly, on the health care side, are the headwinds from the U.S. client all behind now? And do we see growth coming back from 3Q? Or will it take some more time before this client comes back?

L&T Technology Services Limited

FY2027 Q1 · 2026-07-14

So just one question. I mean, at a broader level, how have the client conversations changed over the last 3 months given where the geopolitics is? Are we still in that wait-and-watch mode given the macro? Or do you get a sense that maybe discretionary spends will finally start to come back, and there could be some acceleration in R&D spend by the clients?

Yes, that's helpful. Thank you.

L&T Technology Services Limited CC-Apr26.pdf · 2026-04-22

Hi. Thank you. I've just one question, Amit. On AI, how are the client conversations progressing across your 3 different segments? Because on the IT services side, we do hear a lot of ask from clients for productivity pass -through the pricing discounts. But curious to he ar in ER&D, how the conversations have progressed over the past few months, even development on the AI side of things since February, March?

Okay, got it. Thank you.

L&T Technology Services Limited CC-Mar24.pdf · 2024-04-25

My question is to Rajeev on margins. Can you elaborate on what kind of inve stments and costs we are going to bring, which is driving this 100bps drop in margin for FY25? And when can we see margins start coming back to that 17% level? That would be helpful.

How should we see these investments spread out between Gross Margins vs Sales and Marketing costs?

KPIT Technologies Limited

KPIT Technologies Limited CC-Nov25.pdf · 2025-11-10

Hi, thank you. So, first question is, Kishor, you did speak that the client conversations are moving in a positive direction. But when you think about the pace of recovery over the next quarter, how should we think? Because 3Q could be flattish. 4Q itself could be like a very good growth quarter. But does that growth momentum continue going into next year or will it be more like a gradual recovery we should expect over the next 12 months?

Okay, got it. The second question is on this large deal engagement with European OEM. Any color in terms of what could be the size of this engagement? When does it start to run? When does it reach peak revenues?

Kaynes Technology India Limited

Kaynes Technology India Limited CC-Nov25.pdf · 2025-11-05

One question I'm asking that is capex of around INR840 crores in 1H. So how should we think about the full year capex this year and next year? And just a clarification on that, is this a gross capex or does this include the subsidies issued by the government also this is like a net number?

Cyient Limited

Cyient Limited CC-Jun25.pdf · 2025-07-24

So Sukamal, it's been a few months since you took over. So just wanted to understand the key strategic changes you have brought into the business. And what are the key metrics you'll be monitoring to gauge the success of those initiatives going forward?

Cyient Limited CC-Dec24.pdf · 2025-01-27

Obviously Krishna you've given some soft targets or guidance for next year in terms of growth being linear over the four quarters as well as the margin expansion. But the risk over here is you know whenever the new person takes over a CEO in April or May , then wouldn't he want to come up with his own strategy which might again derail some growth or margin momentum in the short term and again, you might have to go back on whatever the sort of targets you are giving right now?

Cyient Limited CC-Mar24.pdf · 2024-04-25

Just one question going back to the guidance. I think Prabhakar, you said that you're taking a cautious view on the high single -digit guidance what you have provided right now. But I just want to understand what are the risks that this high single-digit goes to the mid-single digit over the next 3 to 6 months. So, what are the verticals that you see things don't play out as per your expectations currently?

SAGILITY LIMITED

SAGILITY LIMITED CC-Dec24.pdf · 2025-02-05

Hi, thank you. So couple of questions. Firstly, on both growth and margins, is it possible to quantify the impact of the open enrolment seasonality you typically see in a year? Just so that we can understand what is the underlying growth and margin predicting the whole quarter. And the second question is, on the acquisition. I think you said it's a low - double digit margin business. So with the synergies around administration cost, offshoring or cross selling, where can these margins go up to over the next two to three years?

Okay. Thank you.