Questions across 33 calls

Kumar Rakesh

BNP Paribas

Hero MotoCorp Limited

Hero MotoCorp Limited CC-Sep24.pdf · 2024-11-15

My first question was on the financing side, which you partly addressed earlier. But how has been the delinquency , especially in the two -wheeler order book , which you have in Hero FinCorp over the last quarter or two?

Yes, that is something which I'm noticing is happening. My question was more specifically that your credit cost in the second quarter has gone up. So is that across the segments which you are seeing or two-wheeler would be an outlier or within the two -wheeler also we would have seen deterioration to happen.

Hero MotoCorp Limited CC-Jun24.pdf · 2024-08-14

My first question was on the profitability of the EV business. So we talked about operating leverage to be one of the key drivers for improving the profitability. Now sequentially from fourth quarter to first quarter, the v olume almost doubled in the EV business, although we haven't seen material improvement in profitability, so possibly it may take much higher volume to drive profitability. So can you give some sense on at what level of volume we'll start seeing the operating leverage to start kicking in? And as part of that, is there any step function improvement as well in profitability, through either new technology which you are working on, the platform or the supply side, which we would see in the coming quarters? Or it would be a gradual improvement in profitability.

Got it. And just a clarification on that side. So you had earlier spoken about that the expansion of portfolio in EV will be happening in the mid and affordable section, where the pricing could be a little more challenging. So that will not have a profitability impact?

Maruti Suzuki India Limited

Maruti Suzuki India Limited CC-Sep24.pdf · 2024-10-29

My first question was on quarter-on-quarter gross margin movement. I noticed most of the key commodities have been largely benign since April-May, such as steel, iron, and copper. Also, in the P&L, the line item changes in inventories of finished goods was positive during the quarter. So, this is probably the first time in the last several years when we saw this to be positive. Usually there is a factory inventory build -up which happens in this quarter ahead of festival. This year also I think you were building inventory for Dussehra ahead of the launch and hence that shows up as a negative line item in the changes to inventory. So, can you just help us understand this movement in gross margin with whatever granularity you can?

I had a second question for you. So, now it's almost a year since you would have joined, and you have experience of working at multiple MNCs in the past. You have handled businesses which were spread across geographies, have seen raw material price volatility as well. So, now, having settled at Maruti, what's your vision? How do you plan to handle the pricing versus margin, all those debates which we have had in the past? I understand Maruti already operates with very rigid cost control measures. But on a big picture basis, how do you plan to handle these debates going forward?

Infosys Limited

Updates Infosys Limited has informed the Exchange regarding 'Earnings Call Transcript'. · 2024-10-17

Hi, good evening, and thank you for taking my question. My first question was to understand how is the traction on your Gen AI work? So, you have the Topaz platform, which you have launched. You earlier had for cloud, a similar platform, Cobalt, to build an accelerator to help customers set up the new technology. So relative to how it was at that time when Cobalt initially was launched and how it was first year of traction in terms of how many customer engagements are happening, how many customers signed up for that? Relative to that, how do you see Topaz panning out?

And any insight on the customer adoption? How m any customers have signed up for that? How many transactions are happening or how many accelerators you have run on that?

Infosys Limited CC-Sep24.pdf · 2024-10-17

Hi, good evening, and thank you for taking my question. My first question was to understand how is the traction on your Gen AI work? So, you have the Topaz platform, which you have launched. You earlier had for cloud, a similar platform, Cobalt, to build an accelerator to help customers set up the new technology. So relative to how it was at that time when Cobalt initially was launched and how it was first year of traction in terms of how many customer engagements are happening, how many customers signed up for that? Relative to that, how do you see Topaz panning out?

And any insight on the customer adoption? How m any customers have signed up for that? How many transactions are happening or how many accelerators you have run on that?

Updates Infosys Limited has informed the Exchange regarding 'Earnings Call Transcript'. · 2024-04-18

Hi. Good evening. Thank you for taking my questions. So my first question was on BFSI. So even if we adjust for this contract renegotiation, the vertical seems to have still declined by about 3% to 4%, while some of your peers have started talking about recovery in BFSI and they have also seen the recovery in the March quarter. So is there something outside of this contract renegotiation also which happened in the vertical, which is specific to you?

Okay. And from the renegotiation part itself, is the impact fully reflected in this quarter, or there could be more impact going into the next quarter? The impact is completely taken in this quarter. External Document © 2024 Infosys Limited 14

Infosys Limited CC-Mar24.pdf · 2024-04-18

Hi. Good evening. Thank you for taking my questions. So my first question was on BFSI. So even if we adjust for this contract renegotiation, the vertical seems to have still declined by about 3% to 4%, while some of your peers have started talking about recovery in BFSI and they have also seen the recovery in the March quarter. So is there something outside of this contract renegotiation also which happened in the vertical, which is specific to you?

Okay. And from the renegotiation part itself, is the impact fully reflected in this quarter, or there could be more impact going into the next quarter? The impact is completely taken in this quarter. External Document © 2024 Infosys Limited 14

Wipro Limited

Wipro Limited CC-Jun24.pdf · 2024-07-19

Thank you for taking my question. S rini, my first question was for the last 4 quarters, the magnitude of Q-o-Q revenue decline was coming down and then in this quarter we have seen the decline has increased. This was despite the strength in BF SI that the industry has seen and you have relatively similar or higher exposure in that vertical. That shakes the confidence in the recovery that we were hoping that at some stage should start kicking in. From your commentary that you have made about the large deal wins that you are winning , some of the larger ones are actually in ENU and the strong deal pipeline you have , some of your peers have also spoken about how the deal to revenue conversion now is improving. Do you think you have reached a stage there; you can at least say that sequentially from here on Wipro should start seeing improving revenue growth and if not, then what is holding you back?

Thanks for that. My second question was more of a clarification. So, last month, Airbus came out with a profit warning and since then we have seen a couple of Europe based ID services, some of the services companies issuing their own profit warning as well cutting their guidance. Does our manufacturing weakness has anything to do with that or do you think any of that has any implication for Wipro?

Wipro Limited CC-Mar24.pdf · 2024-04-19

My first question was , Srini, you talked about large deal acceleration. Well, I understand that mega deals haven't been around a lot, but large deal performance has been quite fairly good over the last two years. From what used to be about 600 million on an average two years back, you have been consistently doing about 1.1 billion or quarterly large deals. But that has not been reflecting into stronger growth. So, when you talk about that you plan to work on large deal acceleration, what does that mean and how should that translate into growth?

My second question was around the number of clients less than 1 million. So, for the last few quarters, we have been pruning our smaller accounts, smaller clients. But in this quarter, on a sequential basis, it has increased. So, is this one-off or there is a change in strategy now, how we are looking at these smaller accounts?

Wipro Limited CC-Sep23.pdf · 2023-10-18

My first question was around the large deal TCV. So, over the last four quarters, you have been consistently reporting 1 billion or more of large deal TCV. Over the last two quarters, your revenue from existing customers have reached almost close to 100% about 99.6 or so number which was about 95, 96 sorts of a percent last year. Does that imply that large part of these deals which we are seeing are renewal deals? I understand that you don't disclose those data, but this challenge of high deal win not translating into revenue is not just unique to you, we have seen with othe r companies as w ell, but at least their guidance or the commentary do suggest that in the coming quarters they are going to see a much better growth outlook, whereas in contrast, your outlook suggests that the growth is going to further deaccelerate from hereon and it's absolutely in contrast to the deal win TCV, which you're reporting. So is that a reflection that almost the entire part of the large deal TCV which we are seeing here is actually a renewal and not meaningfully new deal TCV.

My second question was around your strategy of exiting from the smaller accounts and we started seeing the effect of that fro m last year's fourth quarter and since then the revenue for the IT services has come down by about $90 million. It appears to be that proactively pruning small accounts at a time when the demand environment could be counterproductive and actually could be one of the reasons why our growth could be getting impacted.

Tata Consultancy Services Limited

Tata Consultancy Services Limited CC-Jun24.pdf · 2024-07-11

Hi, good evening. Thank you for taking my question. My first question is more of a request, Krithi. If you could consider starting to give guidance on a full year basis that would be helpful because I really don’t understand why a large company and successful one like TCS should not have a guidance when almost every other peer of yours have. And the challenge which at least I face is the operating metrics which you share are not enough to give us a full picture of how the trends are panning out. The deal TCV has a very poor correlation with the revenue trend and the other operating matrices also are relatively lesser than what the peers have been giving. Now demand appears to have started stabilizing. You have settled in your office for a few quarters now. So now may be a good time to relook at this strategy whether you want to start giving a guidance. I understand TCS has not in the past, but may be a good start to give and if you take a feedback and if you still conclude that you should not give a guidance then at least maybe start giving some more operating metrics such as order backlog or ACV numbers, which can help us in modelling and come to a sense that what direction the growth potentially could be? | 15

That would be great. Thanks. My second question specifically was on the GenAI side. So, you did talk about $1.5 billion of deal pipeline on AI and GenAI side. Can you give some sense how the booking and revenue conversion could possibly be? You have spoke n about 270 projects you are working on. So, is it fair to expect that about triple digit million dollars of total revenue TCV you may have been working on the GenAI side?

Tata Consultancy Services Limited CC-Mar24.pdf · 2024-04-12

Hi, good evening. Thank you for taking my question. My first question was for Samir. So, we are exiting this year closer to 26% on the margin side. So, through the next year, FY'25 through the quarters, should we expect the quarterly movement of margin similar to w hat we saw this year? Or there was some difference in the trajectory which we saw, and we should build accordingly?

Got it. And there has already been a lot of questions around the deal TCV, ACV and the revenue conversion. Additionally, Krithi, you also | 23 spoke about in the last part about the pent -up demand in the retail segment this quarter. You have spoken about pent -up demand to be there in BFS. How do you see that panning out in the context where you have caution in the near term while you are also talking about there is a pent-up demand? What do you think that would be the catalyst that, you would be looking at where the pent-up demand eventually starts translating into revenue and gives you more better visibility on demand and comfort as well?

Tech Mahindra Limited

Tech Mahindra Limited CC-Sep23.pdf · 2023-10-25

Hi, good evening. Thank you for taking my question. Best wishes CP. It has been a pleasure interacting with you over the years. My first question was, Mohit, you talked about the reorganization and the focus that it brings on the a gility as well as doubling down on the client accounts. From a vertical and service line perspective, what the new reorganization focus would be driving towards?

Thanks, Mohit, for that. A request, if you could have a session arranged in which we can go a bit detail around the re -org and your plans over the next two, three years, at a time convenient to you, would be really helpful? My second question was for Rohit. So you talked about the business rationalization, which continued in this quarter as well. Once we are done with that, and you said that we'll have some of it in the third quarter as well. Once we are done with that, how should we assess the benef it of this rationalization exercise? Will the growth for the same business should be better or the margin profile improves or our DSOs improve? So from a tangible perspective, where should we be looking at the benefit out of this exercise?