BFSI volatility from furloughs and productivity pass-through
BFSI revenue declined 0.8% YoY due to higher-than-normal furloughs and annual productivity gains in a large contract, which may persist.
TECHM / Q3-FY26 / risks
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Techm · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
medium
Wage hike impact on margins
Wage hike timing and quantum are undecided due to new labor code implications; could pressure margins when implemented.
Seasonal normalization in European auto
Manufacturing growth was partly boosted by one-time deliveries in European auto, which will normalize next quarter, creating a headwind.