Automotive sector weakness in Europe
Softness in the automotive segment, especially in Europe, led to a sharp decline in ASAP acquisition revenue and impacted Manufacturing vertical performance.
HCLTECH / Q1-FY25 / risks
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HCLTech · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
medium
Discretionary spending recovery uncertain
Management noted that discretionary spend has not picked up meaningfully, and recovery depends on macro factors like interest rates and inflation.
Competitive intensity driving irrational pricing on GenAI deals
CVK highlighted that competitive intensity, more than client expectations, is leading to irrational behavior in pricing for GenAI-related contracts.
State Street JV exit impact on Q2 revenue
The State Street BPO JV divestiture will cause an 80bps revenue impact at the company level and 90bps at the services level in Q2.