Stockrabit · Analysts
Questions across 4 calls

Sudheer Guntupalli

Kotak Mahindra Asset Management

L&T Technology Services Limited

L&T Technology Services Limited CC-Jan26.pdf · 2026-01-15
Hi, Amit. Thanks for the opportunity and appreciate the color you have shared on restructuring of lower margin business and agree with you on all the logic that you spoke about. But my question is, when the SWC acquisition was announced roughly three years back, most of the analysts and investors have expressed the same concern at that point in time. So, three years out, what has changed for us to sort of claim that it's a great strategic trade to going to the level of saying that a lot of these businesses may become obsolete and that's why we are now restructuring it?
Sure, sir. I appreciate that context. So, I agree with you that over 10 -15 year time frame technology changes and a lot of things which were very relevant then might not be consequential anymore. But given that this is fairly recent, it's a three-year-old acquisition, and most of us have expressed this concern when you have actua lly refuted all these concerns and given a comfort that this is very strategic for you. So, in that backdrop comes my question of what is the incremental discovery here that led to this rationalization? That is part number one. And part number two, I am following up on this question because I think Vibhor and Sandeep asked the same question in a different form. And from your response to them, I was not very clear whether this entire restructuring is happening entirely out of SWC or there are other parts to it also. So, based on these two aspects , I am repeating this question. My apologies if there is a misunderstanding on my end.

HCL Technologies Limited

HCL Technologies Limited CC-Sep25.pdf · 2025-10-13
Hi, CVK and team. Congrats on a good quarter. As the largest IMS player globally, how do you see the need for enterprise data center refresh as we go through the AI upgrade cycle? And what would our play be in this value chain? Will we continue to focus only on the managed services piece or are we willing to now offer services on co-location and cloud service provider modes as well?
Sure, sir. And just a follow up. So, if you look at the IMS cycles, they have their own rhythm, a little bit different from the app development and modernization. So, do you see the next up cycle in the IMS space beginning anytime soon, partly led by this CPU to GPU upgrade of the existing data centers?

BIRLASOFT LIMITED

BIRLASOFT LIMITED CC-Mar24.pdf · 2024-04-29
My first question is, even in FY '24, to adjust for that Invacare impact, I think we are almost at industry-leading growth, that being your first year where we were going through many of the structural changes within the company. Now , your prior comment from your prepared remarks about in FY '25 being higher than industry average growth, how should we read that statement? Does that refer to the worst case expectations? Or is there something else that we may have to know at this point?
Sure Angan. Thanks for that clarification. And my second question is in terms of margins. So you are ending the year at a high note of 16.3%. So what is the outlook for FY '25 in terms of margins and what are the puts and takes to it?

Wipro Limited

Wipro Limited CC-Dec23.pdf · 2024-01-12
Yes, thanks. Hi, Thierry. Just one question. So, growth in Q3 ended up towards the higher end of our guidance band, and you're calling out green shoots of recovery in consulting segment. Historically, March quarter has not been so bad for us in terms of seasonality. And after multiple quarters of revenue weakness, our base looks mathematically favourable. So, in that backdrop, I'm a little perplexed on how to reconcile the lower end of our guidance band at around 1.5% decline. So, are we being a little conservative here to keep buffer for any potential shocks? Or is there any revenue impact due to the restructuring of the low margin business that we spoke about?
Got it, Thierry. No, I was just surprised as to the lower end here implies the same kind of number that we did in December quarter, which is typically very weak seasonally. And this time around, almost everybody is seeing higher than expected furloughs. So, I was just trying to understand how you arrived at that base case scenario. Is there anything specific that you're looking at or just the wide band that you wanted to keep?