Prolonged macro uncertainty and client insourcing
Customers continue to cut discretionary spending and insource work, impacting revenue growth.
BSOFT / Q1-FY26 / risks
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BIRLASOFT · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
high
Pricing pressure on new deals
Management acknowledged significant pricing pressure on new deals, which could compress margins.
Elevated effective tax rate for FY26
ETR spiked to 35.9% in Q1 due to a provision, expected to persist for the year, impacting net income.
Dependence on manufacturing vertical recovery
Manufacturing vertical, the largest, declined 4% QoQ and faces headwinds from tariffs and delayed decisions.