COFORGE / Q3-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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WatchQ3-FY24 · 2024-01-17Back to quarter ↗

Questions audited

Answered directly

88%

Numeric claims

Consistency

mixed

Question ledger

What was answered, and how?

Sulabh Govila · Morgan Stanley

direct

Context on additional environment issues and furlough reversal in Q4.

Furloughs have stopped in our context... We have lost close to 40bps-50 bps by our estimate in Q3 margins because of higher than anticipated furloughs. We expect to recoup all of it back in quarter four.

Sulabh Govila · Morgan Stanley

direct

Margin outlook for Q4 and full year Adjusted EBITDA.

We are looking at least around 150 bps-200 bps margin improvement... we expect the margins to significantly go up from the current quarter and also higher than the levels of what we delivered last year.

Vibhor Singhal · Nuvama Group

direct

Green shoots in BFS vertical and demand recovery timeline.

There are green shoots in the context of going for growth in the driving agility in software delivery... Aggregate budgets have not increased. We suspect that if there is gonna be a reversal in that situation, it will take another 4 months-6 months.

Vibhor Singhal · Nuvama Group

direct

Plans to reduce debt and refinance to lower interest costs.

We are looking at restructuring the loan in quarter one of next financial year. The payment is expected in April 2024.

Dipesh Mehta · Emkay Global Financial Services

partial

ESOP plan implications and capital allocation policy.

Board has now approved three percent of the pool to be created... Once the new ESOP pool is created, grants are being issued, only then we'll be able to determine what the cost will be.

Girish Pai · Nirmal Bang

direct

Competitive situation and pricing pressure changes.

It's highly competitive out there... Pricing pressure is not easy. It continues to be really competitive out there. Nothing's changed over the last five quarters.

Girish Pai · Nirmal Bang

direct

Generative AI deflationary pressures and revenue impact.

No, we're not really seeing generative AI bringing in deflationary pressures at all... we do see a revenue creation exercise here.

Sandeep Shah · Equirus Securities

evasive

FY2025 growth replication and margin tailwinds.

We'll talk about guidance after factoring in everything that we see, with hopefully demand settling down a little bit more by the time we have a conversation, end of April.

Sandeep Shah · Equirus Securities

direct

FY2025 margin tailwinds from utilization and SG&A leverage.

Next year margins will clearly be higher. They'll be higher because... offshore revenue percentage as a base, would have gone up... There are clearly tailwinds around... average resource cost.

Shradha Agrawal · Asian Markets Securities

direct

Quantification of new deal component in large deal wins.

Out of the three deals, one is 100% NN, Net New. The second one is essentially EN, but most of it is new revenue... the third one... half of that is new for us. Verticals... insurance, banking, and Public sector in U.K.

Ravi Menon · Macquarie Capital

direct

BFS pipeline and program types driving growth.

The pipeline from our vantage continues to be good... Innovation, speed, agility in software delivery and compliance reg. Those are the 3 spaces where we are finding happy hunting grounds.

Kawaljeet Saluja · Kotak Institutional Equities

direct

Board refresh status and future additions.

The immediate Board size that we will be going forward with will be a Board constituted of six members. At this point in time, we have line of sight to all six.