Telecom rollout delays persist
Telecom revenue remained flattish due to delayed network rollouts by operators; recovery may be slower than guided.
BLUSPRING / Q3-FY26 / risks
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Bluspring Enterprises · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
medium
Foundit revenue decline and continued losses
Foundit revenue declined 27% YoY; management expects turnaround in 3 quarters but past delays raise execution risk.
Labor code cost recovery uncertainty
One-time charge of 29.8 crores for labor code; recovery from clients may take time and impact near-term margins.
Security margin volatility from one-offs
Security EBITDA was muted due to one-off provisions; such provisions could recur if receivables aging worsens.