Questions across 4 calls

Debashish Mazumdar

Svan Investments

Tata Elxsi Limited

Tata Elxsi Limited CC-Jan26.pdf · 2026-01-13

Good evening to the management team and v ery good quarter, congrats on that. So I have a question on the transportation vertical. The 7.3% kind of growth that we are seeing quarter -on- quarter, can we get a qualitative breakup that how much is because of the anchor customer coming back and how much is because of the growth in the other customers? And what kind of growth you are seeing from the ramp-up of the incentive on deals?

If I just connect your transportation growth and Europe growth and top 5 customer growth, it seems to be a large part of the delta in this quarter -on-quarter 7.3% growth is driven by the anchor customer. Is my understanding correct? Or it is equally distributed between the 3 segments that you have just explained?

Tata Elxsi Limited CC-Jun25.pdf · 2025-07-10

One follow -up question, which Manik was earlier asking about margin. So, if I understand correctly, one of the reasons Tata Elxsi used to report a very strong set of margins because they are focused on offshore centric deals, but over the last 2 to 3 quarters, what we have seen is a consistent fall in margins. So, is it like we have shifted our focus more into on-site focused deals also, where margins are initially low and will be able to catch up later , or it is like a normal process of business which is impacting our margins?

Okay. And of the last to last quarter, the deals that you have won, which is A sia specific. So, when those deals ramp up happening, we are seeing some margin pressure. So, is it like those deals are contours of those deals are such a way that it's a kind of lower-margin business for us?

Tata Elxsi Limited CC-Mar25.pdf · 2025-04-17

So I have just only one question. If I remember the way you and some of your competition were describing the OEM situation last quarter and last -to-last quarter, it was like there was a lot of pressure in the OEM's own business, some of those pressures are structural like not shifting to the Chinese and putting pressure on European OEMs and stuff like that? In this quarter discussion as of now, it is more seems to be related to tariff -related uncertainty and seems to be those OEM limited uncertainties are behind us. Is my understanding correct? Or is it that in your base already or new order wins or new deal wins are giving us this kind of confidence?

So then are you saying that your FY '26 will be possibly better than FY '25? It is just because of the deal wins that you have done already or the pipeline that you are currently have a visibility. Is my understanding correct?

BIRLASOFT LIMITED

BIRLASOFT LIMITED CC-Jun25.pdf · 2025-08-07

Good evening. Hi, Angan. Thank you so much for taking my question. And Kamini, all the best for your future endeavour. So, Angan, I have a little bit of a strategic question in my mind. If I see your journey in Birlasoft once you joined, after we faced a huge headwind from Invacare, which was kind of managed well, we then came back into growth mode for two to three quarters, because some of the changes done, some strategic changes made, consolidation happened, hired new people. Then, if I see over the last two to three quarters, we suddenly kind of collapsed from that growth journey. And obviously, because of that, our margin also got impacted. So, according to your analysis, what was the reason of this impact? It was like job half done when we were kind of changing strategically 3-4 quarters back, or it was more of a macro impact that we have faced or it was more of a client specific or vertical specific issues that we have faced ? So, according to your analysis, what are the -- among all these three, what is the main reason according to you in your mind that has impacted us the most? And the second is , at what level of transition we are in? And according to you, how much time it will take approximately to get back into the growth phase?

Sure. And when you said that building a robust company in the long term from your recent experience, at least, where do you think that the maximum gap is? Is it like, depending on one single vertical w hich is very volatile in nature or kind of depending on few single customers, where again, you can have higher pressure going forward. So according to you, what are the areas which need to be addressed very, very urgently?