ETERNAL / language trends

Read confidence between the lines.

Eternal · tone and specificity signals across the available quarters.

Research layer active

Language signals

What changed in management language.

We are not saying that the pace of margin expansion will be same as what happened in the last quarter because the comparative intensity was high.

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In absence of a rational competition that we are pointing out, things would have been much better than what they are today.

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Our confidence on margins going to five to six% of NOV remains high.

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We are very confident of maintaining our pricing discipline. We're not sure what competition will do.

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The objective is to optimize for growth of absolute profit and not the profit margin percentage.

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We are more concerned with whether our quality of growth is maintained as we grow.

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