COFORGE / Q2-FY25 / 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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PositiveQ2-FY25 · 2024-10-23Back to quarter ↗

Questions audited

Answered directly

96%

Numeric claims

Consistency

mixed

Question ledger

What was answered, and how?

Sulabh Govila · Morgan Stanley

direct

Furlough expectations for Q3 and vertical growth outlook.

As far as furloughs are concerned, we expect furloughs to be in line with the normal trend in quarter three... BFS has grown 5.2% sequentially. Insurance... almost 9%... travel more than 6%. Government also more than 6%.

Sulabh Govila · Morgan Stanley

direct

Cigniti go-to-market and cross-sell progress.

Go-to-market plan is firmly in place... Cross-sell is moving exceptionally well... the eagerness with which a team that was largely selling only one service line has embraced the other ten.

Sulabh Govila · Morgan Stanley

direct

Recurrence of one-off expenses below EBITDA.

We don't expect any past liability to now come in... integration-related expenses... it's come down to two million dollars. I think it will be some million dollars in one or two quarters, and then it will die off.

Abhishek Pathak · Motilal Oswal

direct

Cross-sell to Cigniti clients and headcount utilization strategy.

It's not the demand environment recovery that is largely driving the cross-sell effectiveness... it's just the fact that that team was primed... We don't want to sweat the asset anymore. We want to keep utilization at where it is.

Abhishek Pathak · Motilal Oswal

direct

Cigniti margin expansion potential beyond current quarter.

There are still low-hanging fruits. We've given you an estimate of 18% over the next two quarters. Most of that should come through addressing the low-hanging fruit. Structural improvements beyond that... we'll talk about those next year.

Debashish Mazumdar · Swan Investments

direct

Macro recovery status and sustainability of organic growth.

In March this year... we had made another assertion... that the demand environment has seen a definite and positive turn. We believe that is in play, and that demand environment will continue to underpin our growth going forward.

Debashish Mazumdar · Swan Investments

partial

Sustainability of 5% organic CC growth for next quarters.

As you're aware, we've stopped giving a formal guidance on numbers, but what we can assure you is that the broad-based growth is going to continue... Growth going forward... will continue to be broad-based. It will also... be robust.

Debashish Mazumdar · Swan Investments

direct

Success of cross-sell to Cigniti's large clients and micro markets.

We clearly are... We are getting success slightly ahead of what our expectations, which were already high, were when it comes to cross-sell.

Vibhor Singhal · Nuvama

direct

Travel vertical outlook and large deal pipeline.

The large deal pipeline for the travel vertical is looking extremely promising. We are seeing deals spanning spend areas of IT modernization and mainframe offload... e-commerce and NDC for airlines... guest experience and personalization for hospitality.

Vibhor Singhal · Nuvama

direct

Banking vertical growth areas and Cigniti contribution.

Cigniti, the largest vertical that they have is banking... the ability to cross-sell horizontal businesses in that functional space has gone up... clients are boosting investment in IT and cloud and data areas... financial crime prevention, DORA, open banking.

Manik Taneja · Axis Capital

direct

Confidence in next seven years and acceleration of growth.

That confidence is near absolute... Coforge today is a far more diversified organization... growth vectors... have primarily been industry-led... horizontal capability mix... expanded geo mix gives us confidence.

Kawaljeet Saluja · Kotak Securities

direct

Reasons for strong deal pipeline and GCC revenue durability.

We think it's more a function of the mix having evolved... expansion in the credibility that we built across newer verticals... product engineering... geographical expansion.