ESOP cost headwind impacting margins
Incremental ESOP cost of ~120bps per quarter in H2 FY25 will pressure reported EBITDA margins.
medium · management_commentaryCoforge Ltd — Q2 FY25
Coforge delivered an exceptionally strong Q2 FY25, with consolidated revenue of $369.4M, up 26.8% sequentially in USD terms, driven by broad-based growth across all verticals an...
bullish
high
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Risk Intelligence
Material risks this quarter
Concise cards keep the risk register scannable while preserving evidence-level context in the underlying quarter data.
Risks
Furloughs in Q3 could impact sequential growth
Management expects normal furloughs in Q3, which could temper the strong sequential growth trajectory.
low · analyst_questionGCC deal revenue durability risk
Some GCC deals have a build-operate-transfer structure, leading to potential revenue cliff after the initial mandate period.
medium · analyst_questionIntegration and past liability risks from Cigniti
While management expects no further past liabilities, integration expenses may persist for a couple of quarters.
low · management_commentary