COFORGE / Q1-FY24 / claim-ledger

Audit the questions that mattered.

Coforge · Analyst questions, management answers, and the quality of the response where the ledger is available.

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PositiveQ1-FY24 · 2023-07-19Back to quarter ↗

Questions audited

12

Answered directly

67%

Numeric claims

2

Consistency

mixed

Question ledger

What was answered, and how?

Dipesh Mehta · Emkay Global

direct

Details on $300M deal, order book growth, demand environment, and BFS vertical.

The $300M deal is in banking, $60M minimum locked in, not margin dilutive. Order executable is $897M, 19.1% YoY. Demand environment continues to be stressed. BFS vertical is in wait-and-watch mode.

Dipesh Mehta · Emkay Global

partial

Follow-up on QoQ order book growth and incremental ACV.

Order executable growth is 19.1% YoY. Our guidance is 13%-16%. Our track record shows order executable growth closely mirrors subsequent revenue growth.

Abhishek Pathak · HSBC

partial

BFS growth drivers, discretionary vs non-discretionary split, and tech spend trends.

5% and 3% is actually slow growth for us. Our focus on BFS and relationship depth allows wallet share gains. We do see deferrals. We aren't slowing down too much.

Rishi Jhunjhunwala · IIFL Institutional Equities

direct

Ramp-up and contribution of $300M and $65M deals over next 12 months.

All $73 million is going to be more or less evenly spaced out. The revenue stream is going to be uniform almost right through over the next five years.

Rishi Jhunjhunwala · IIFL Institutional Equities

declined

How much of $60M was existing vs new scope in the $300M deal.

No, we haven't, and we don't do that for large deals. A significant chunk of this $300 odd million was revenue that was with us already or was about to be aligned with us already.

Rishi Jhunjhunwala · IIFL Institutional Equities

direct

Margin trajectory and key levers for 400 bps expansion through the year.

We are not expecting to do anything spectacular. Q1 margin is 16%, same ramp as last two years. Levers: offshore revenue expansion, flattening pyramid, campus hires.

Rishi Jhunjhunwala · IIFL Institutional Equities

direct

Demand environment in travel and transportation vertical.

Airlines and airports demand continues to be strong, supply constrained. Surface logistics and hospitality seeing initial softening. Overall travel growth will be in line with company growth.

Saurabh Sadhwani · Sahasrar Capital

partial

Hiring plans and cost of talent given attrition decline.

Hiring plans in line with growth. We've built a solid bench. Attrition fall gives leeway. We have initiated cost containment exercises.

Vibhor Singhal · Nuvama Equities

direct

Can the executable order book be considered minimum revenue for next 12 months with no slippages?

Our order executable only includes signed contracts. We believe almost all will hold. We have not seen material slippages over the last 6 months.

Vibhor Singhal · Nuvama Equities

partial

Outlook on overall banking industry spend and uncertainty.

Things haven't changed materially. Anecdotally, retail and commercial outside mortgage spend confidence seems to be increasing. One CIO was far more confident than three months back.

Shradha Agrawal · Asian Market Securities

direct

Drivers of insurance vertical growth and US vs Europe demand trends.

Strong growth in P&C SMB driven by alliances like Duck Creek and Bond-Pro. AdvantageGo rebounded. US and Europe both doing well for us.

Abhishek Bhandari · Nomura

evasive

Timeline for material AI revenue and net revenue impact.

It's still early to call out pure play AI revenue. We have delivered GenAI projects. Net, we expect AI to be a growth enabler. Investment numbers are premature.