India growth to continue; Middle East soft in H1 FY27
Management expects India momentum to sustain, while Middle East will be soft in Q1 and possibly Q2 due to the West Asia crisis.
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Keep management guidance in view.
Redington · forward-looking guidance across the available source record.
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Guidance tracker
What management said would happen.
growth
SSG to sustain 30%+ growth trajectory
SSG (cloud, software, security) expected to maintain or accelerate growth above 30%, driven by cloud, AI exchange, and security catch-up.
Opex investment to continue for 1-2 years
Elevated opex due to capability building in SSG and technology will persist for 1-2 years, but AR provisions and war-related costs should normalize.
Targeting 2.2-2.4% EBITDA margin (ex-Arena)
Excluding Arena, management expects EBITDA margin of 2.2-2.4% and RoCE above 18% (currently ~20%).