Wage hike margin impact in Q3
Annual wage hike effective October 1, 2025, expected to cause a 100-150 bps margin drop in Q3, partially offset by other levers.
COFORGE / Q2-FY26 / risks
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Coforge · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
medium
Furloughs in Q4 could impact growth
Management expects furloughs at the same scale as previous years, which could affect Q4 revenue sequentially.
EMEA demand recovery still uncertain
EMEA has seen delays and slowdowns in deal sign-offs, though management expects recovery in the next two quarters.
Hedge losses impacting reported revenue
Hedge losses doubled to INR 307 million in Q2, creating a 150 bps gap between constant currency and dollar revenue growth.