Stockrabit · Analysts
Questions across 25 calls

Sulabh Govila

Morgan Stanley

Tata Elxsi Limited

Tata Elxsi Limited · 2026-07-14
Yes, thank you for taking my question. So I had two questions, both on the investments that we made in the quarter. So one is on the onsite investments in delivery that you spoke about. So historically we've excelled at an offshore-centric delivery model. So should we see that this investment on the onsite front as a change in the nature of demand versus what we used to do earlier and this is more structural or you would say that this is more tactical and specific to a few projects?
Okay, okay. Understood. And secondly, you know, a large part of the costs that you mentioned, they were either transition -related or ramp -up related. So is this specific to a particular vertical or is this broad -based? And the benefit of this investment on revenue, have we already seen that in this quarter or should we see that in the coming quarter?
Tata Elxsi Limited CC-Jul26.pdf · 2026-07-14
Yes, thank you for taking my question. So I had two questions, both on the investments that we made in the quarter. So one is on the onsite investments in delivery that you spoke about. So historically we've excelled at an offshore-centric delivery model. So should we see that this investment on the onsite front as a change in the nature of demand versus what we used to do earlier and this is more structural or you would say that this is more tactical and specific to a few projects?
Okay, okay. Understood. And secondly, you know, a large part of the costs that you mentioned, they were either transition -related or ramp -up related. So is this specific to a particular vertical or is this broad -based? And the benefit of this investment on revenue, have we already seen that in this quarter or should we see that in the coming quarter?
Tata Elxsi Limited CC-Jan26.pdf · 2026-01-13
Yes. Thanks for taking my question and congrats on a good set of results. I had a couple of questions. So first is with respect to growth in the near -term, I just want to check my understanding if that is correct. So, what we spoke about from a 4Q perspective, or a near-term perspective is that we are expecting a recovery in both Media and Healthcare verticals versus what we did in the third quarter. And even in the transportation vertical, while the SDV deals are largely in the steady state, the top account still has to return to the peak run rate. And there are other deals in adjacencies, which are ramping up. So, shouldn't 4Q be similar to better than 3Q from a growth perspective? I mean I'm just trying to understand, is there anything we should keep in mind which can change that trajectory as we enter into 4Q?
Sure, sure. Thank you. And the second question is on the utilization bit. So in the past, we've always talked about reaching a peak utilization rate of 80% odd, while today, it may be the first time we ever spoke about potentially reaching 85% levels. So just trying to understand, is there anything which has changed structurally for you in the delivery organization from a workflow automation perspective, which is changing this thought process on the utilization levels?
Tata Elxsi Limited CC-Mar25.pdf · 2025-04-17
So the first question is on the large deals that you've announced. Just wanted to check, especially on the consolidation deals. What's the net new component there in the media vertical?
Okay. Understood. And then with respect to the auto vertical, given that there have been changes globally with respect to tariff announcement, etcetera. Some of our clients, especially the top client, have made some certain announcements with respect to certain strategic changes that they are considering. So just wanted to understand how does that have any bearing on the business that we do with them?
Tata Elxsi Limited CC-Dec24.pdf · 2025-01-09
My first question is with respect to the growth in transportation vertical that we've seen this quarter? So, I just wanted to understand that, if you were to break down this growth that we've seen, let's say, compared to last two quarters, then is this lower growth more a function of the ramp-ups that were expected to happen but did not happen on time? Or on those ramp-ups, they were as per plan, but there were other project deferrals or cancellations that were ongoing?
Okay. Understood. So just taking this forward. So, if you were to think about this particular quarter, 4Q, given where we are standing today, would you say that based on these multiple moving parts and the three buckets that you mentioned, a decent acceleration from the current levels is going to take some time because there are multiple moving parts here?
Tata Elxsi Limited CC-Jun24.pdf · 2024-07-10
So, my first question is on the growth piece. So, I just wanted to understand on the health care customer, the moderation that we've seen in this particular quarter, is there something which is over in 1Q, and 2Q should normalize going forward? Or this will see some effects in the coming quarter as well?
Okay. Okay. Understood. So the related question to that is that last quarter, we had called out that we are sort of aiming to deliver revenue growth in FY '25 better than FY '24. So, given the performance in 1Q as well as this health care customer moderation continuing in 2Q as well, does that outlook change? Or that sustains from here on as well?

LTM Limited

LTM Limited CC-Jul26.pdf · 2026-07-11
Thanks for taking my question and congrats on the growth seen in the top client buckets. My first question is on the outlook, just trying to better understand. So in the first quarter, on a Q oQ basis, there was an underlying business momentum that you saw. If you adjust for the seasonal pass-through element and the macro-related headwind that was there in the Middle East, so is it fair to assume that, that sort of a business momentum should reflect from 2Q onwards, especially with the deal wins sustaining, or are there any additional moving parts, which can change that trajectory, particularly for 2Q?
Understood and then secondly, with respect to the sales headcount, so there has been some moderation over the last one year of about 8% to 9%. I just wanted to understand, is this more on the support side due to efficiencies, or have there been some actions in a particular geography that has led to that?
LTM Limited CC-Sep25.pdf · 2025-10-16
Hi. Thanks for taking my question and congrats on a strong quarter. My first question is on the deal wins and the pipeline. So in the last two quarters, we have had two mega deals in the ballpark range of, lets say, $500 million each. So with respect to the current pipeline, would you characterize the current pipeline in having similar such size deals, which we are confident of closing in the near term? Or would you say that even without those, we will be able to maintain the level of deal wins that we have been doing?
Understood and my second question is on the margins. The benefit on margins from levers such as productivity driven by infusion of AI. Historically, whatever margin benefits the industry has seen, they found ways to pass it back to clients. And particularly on levers like these, which is where the effort is getting reduced. Would you say there is something different this time around where such benefits can be retained by the IT vendors?

Cyient Limited

Cyient Limited CC-Sep25.pdf · 2025-10-16
My first question is a bit bookkeeping question. So, I just want to check this order intake number that we were calling out, which is the non -renewable portion, which was 21%, last quarter. What is that number for this quarter?
Okay, understood. And then, secondly, with respect to networks, when we talk about change and mix that we are trying to do from a medium to long -term perspective, I know you called out, wireline going to move towards wireless, but from a service line perspective if you could highlight what is it that we are trying to change and what can that change lead to?
Cyient Limited CC-Mar25.pdf · 2025-04-24
My first question is more of a clarification. So Krishna, I just wanted to check. Maybe I could not hear it correctly. But in the presentation, we mentioned that we expect the challenges or the uncertainties to last at least through the first half of FY26. So while in the comments that were made in the opening remarks, I heard that it is only 1Q. So I just wanted to check what should we consider?
Okay. Okay. Understood. And the second is that this process of stopping the guidance, I just wanted to get clarity. Is this more temporary in nature? Or it's going to be a permanent phenomenon from here on? And if it's temporary, then how much time should we expect that process to get back?
Cyient Limited CC-Dec24.pdf · 2025-01-27
I just wanted to confirm if my understanding is correct. So, what we have said is that there is a plan in place and in the next 2 to 3 months we will have a longer-term transition plan with probably a new candidate in place and till that time Karthik is available for the transition. Is that understanding correct?
The second is our question based on the comment that we made last week in the last call. So, we sort of said that there are some of the areas where we find opportunities to fix in the company. So, I just wanted to understand that what ar e these specific areas that we are looking to fix and how much time in our opinion we think that this could take irrespective of the transition plan that is there?
Cyient Limited CC-Sep24.pdf · 2024-10-24
So my first question is more of a clarification. We mentioned that the revenue growth in this particular quarter is in line with our expectations, what we had thought of at the beginning of the quarter. So is it fair to assume the guidance that we had given last quarter , that stays or is there any change in the outlook for 2H versus what you had thought at the beginning of the last quarter?
That's great to hear. And the second question is on the Sustainability vertical. So just wanted to understand, in this particular quarter, the degrowth that you mentioned, is it entirely driven by the holidays or the seasonality that you mentioned? Because the reason I'm asking is , the trend was very different last year when this vertical actually grew by 5% Q -o-Q in the same period last year. So has anything changed this year? And will this be an annual phenomenon going forward from that perspective?
Cyient Limited CC-Jun24.pdf · 2024-07-25
So first question, just starting with the obvious . In this quarter the performance this quarter as well as the guidance, so what has surprised us negatively in 1Q versus what we were expecting at the beginning of the 1st Quarter which led to the high single digit guidance and versus the current guidance because it doesn't look like it can be a specific client or a vertical issue. So just wanted to understand what has gone wrong in our process and what has negatively surprised?
So if I understand this correctly, what we are saying is this is a one quarter blip and that is what has happened and 2Q should normalize, that is the correct understanding?

L&T Technology Services Limited

L&T Technology Services Limited CC-Mar25.pdf · 2025-04-24
So firstly, I wanted to check, I'm not sure if you've quantified what's the sort of impact on revenue this quarter from the investment that you did at the end of the quarter in terms of in the couple of clients that you mentioned?
Sure. Understood. And is it fair to assume similarly on margins, is it fair to assume that when the revenue comes back, the margin also comes back given that it was just the lack of this revenue that led to the margin weakness?
L&T Technology Services Limited CC-Dec24.pdf · 2025-01-15
Thanks for taking my question. Congrats on the good deal wins that we reported , and the question that I had is whether we should think of this level of deal wins as sustainable going forward. And given the pipeline that you had right now and if you could also highlight what would be the average tenure of these deals versus, let's say, what we would have won last quarter?
Understood. My second question is on the Automotive vertical. The outlook that we have provided for Q4 and beyond. So just wanted to understand what's driving that confidence given that a lot of peers have seen ramp -ups being delayed by clients on the deals which have been won very recently as well. And then in some cases, there have been project cancellations. So , I just wanted to get your thoughts on the outlook that you have provided here?
L&T Technology Services Limited CC-Sep24.pdf · 2024-10-16
So, my first question is on the deal wins. I just wanted to understand, we had called out in the analyst meet that our pipeline is 2x of last year. And on top of that, we expect win rates to improve, which would translate into higher number of deal wins being reported going forward. So just wanted to understand by when one should expect to see a higher number of deal wins on a realistic basis? By when do you think that can happen?
Understood. And with respect to Mobility as a segment, just wanted to understand what you are hearing and seeing on the ground, particularly in Europe with respect to how OEMs are behaving? Have you seen any sort of project cancellations? Or have you seen any pause in the ongoing projects that are going on? So just wanted to understand what's the outlook from your perspective there.

Coforge Limited

Coforge Limited CC-Dec24.pdf · 2024-12-27
Thanks for taking my question and congrats on a very strong quarter. My first question is with respect to the overall demand environment that we see in the world today, especially with respect to the fact that this is the time when the clients are deciding on their budgets and there is a sort of growth divergence that we have seen with respect to the industry in the last two quarters especially. So just wanted to understand from an industry perspective, what are we hearing from the demand side, especially given that this is a budget time going on?
And my second question is with respect to Cigniti, the cross-sell that we have seen this quarter, if you could highlight what all services w e were able to cross -sell in that particular deal, whether there are more such deals in the pipeline and the current deal, did it involve replacing of existing vendors or it was a new project altogether so just colours around that would be very helpful.
Coforge Limited CC-Sep24.pdf · 2024-10-23
Hi thanks for taking my question and congrats on a good quarter. So Sudhir you mentioned on the outlook near term as well as going forward. So just wanted to double click on that. In the next quarter particularly, what are you hearing on furloughs from the quarter and the expectation for the same versus let us say last year? And then with respect to verticals, last quarter we had specifically called out BFS to grow, let us say in double digit for the year. Is there any incremental positive change in other verticals also that you have heard during the quarter? That is my question.
Understood Sudhir. The second question I had, was on Cigniti, is the go-to-market and cross-sell plan already in motion there, and if you could highlight any updates on the same?