consensus preview 3qfy15 v4 infy day (1)

7/21/2019 Consensus Preview 3QFY15 V4 Infy Day (1)

1/2952

$ QoQ Revenue Growth Consensus House EBIT Margin Change

TCS 0.5 0.6 TCS

HCL Tech 1.2 1.2 HCL Tech

Infosys 1.1 0.8 Infosys

Wipro 1.1 0.9 Wipro

TechM 2.5 2.4 TechM

Take Away

1. IN !epreci"#e! $y 2.2%

2. Cross Currency i&p"c# '(e 1)5 #o 220 $ps

*. *+ se"son",,y -e" /ro-#h u"r#er

4. -"/e hie "# HCLT

5. Tech M' Inor/"nic /ro-#h "!!in/ 1% in /ro-#h


2/2952

Consensus House

0.4 0.6

'0.9 '0.) -"/e hie

0.2 0.1

0.9 0.9

0.* 0.5


3/2952

JFM2011 AMJ2011 JA2011 !"#2011

QF%11 Q1F%12 Q2F%12 Q&F%12

S e(enues 3 Mn 2244 2412 2525 2586

IN r"#e 45.* 44.8 46.1 51.1

CC 7r/"nic

CC e(enue /ro-#h *.4 6.2 5.2 4.5

S re(enue /ro-#h 4.) ).5 4.) 2.4

'1.26 '1.29 0.52 2.08

3o %

CC e(enue /ro-#h

S re(enue /ro-#h **.1 *4.4 26.0 20.6

IN re(enues 3s Mn 1015)5 10)9)0 116**5 1*2040

o /ro-#h *1.* *1.4 25.* *)

:IT 28456 28261 *154* *8618

o /r#h **.) 25.2 20.8 41.4

% &"r/in 28.0 26.2 2).1 29.2

7#her inco&e 2259 288) 99) 3920

;:T *0)15 *1148 *2540 *)698

T"< 36))2 3)06* 3)91* 385*8

% #"< r"#e 22.0 22.) 24.* 22.6

;=T 2*94* 24085 2462) 29160

o % ch"n/e 22.0 2).* 14.2 2*.*

Minori#y in#eres# 3415 3281 32*) 3294

Ne# pro># 2*528 2*804 24*90 28866

o ?ro-#h 24.0

;S 12.0 12.2 12.5 14.)No of Sh"res 195).2 195) 195)


4/2952


5/2952

JFM2012 AMJ201& JA2012 !"#2012 JFM201& AMJ201&

QF%12 Q1F%1& 2QF%1& &QF%1& QF%1& 1QF%1

2648 2)28 285* 2948 *040 *165

50.1 54.5 54.8 54.5 54.0 56.8

2.* 4.0 4.8 2.5 4.0 4.8

2.4 *.0 4.6 *.* *.1 4.1

'0.10 0.98 0.22 '0.8* 0.88 0.69

18.0 1*.1 1*.0 14.0 14.8 16.0

1*259* 14868) 156208 160)00 164*01 1)9900

*1 *8 *4 22 24 21

*6)19 4089) 41)88 4*810 4*584 4862)

29 45 *2 1* 19 19

2).) 2).5 26.8 2).* 26.5 2).0

10)) 1)54 *10* 21** 4185 251)

*))96 42651 44891 4594* 4))69 51144

381)4 3945) 3944* 310025 311419 312*12

21.6 22.2 21.0 21.8 2*.9 24.1

29622 **194 *5448 *5918 *6*50 *88*2

24 *8 44 2* 2* *1

3298 3*88 3*26 3*99 3*81 38)0

29*24 *2806 *5122 *5519 *5969 *)962

22 *8 44 2* 2* 16

15.0 16.8 1).9 18.2 18.4 19.4195)

4*.40


6/2952

4).60


7/2952

JA201& !"#201& JFM201 AMJ201& JA201 !"#201&

2QF%1 &QF%1 QF%1 1QF%1' 2QF%1' &QF%1'

***) *4*8 *50* *694 *929 *9*1

62.9 61.9 61.5 59.9 60.6 62.*

5.0 4.*

6.0 2.2 2.0 5.0 ).4 2.5

5.4 *.0 1.9 5.5 6.4 0.1

0.5) '0.8* 0.11 '0.46 1.05 2.45

1).0 16.6 15.2 16.) 1).) 14.*

209))2 212950 215511 221110 2*8165 245011

*4 ** *1 2* 14 15

6*295 6**5) 62810 58149 6*942 65862

51 45 44 20 1 4

*0.2 29.8 29.1 26.* 26.8 26.9

342) 6)29 6990 8151 5659 6259

62868 )0086 69800 66*00 69601 )2120

31556* 316524 316*1* 315*12 316045 31)45*

24.8 2*.6 2*.4 2*.1 2*.1 24.2

4)*05 5*562 5*48) 50988 5*556 5466)

4* 51 49 40 *8 16

328) 3412 3520 3410 36)* 3226

4)018 5*150 5296) 505)8 5288* 54441

*4 50 4) ** 12 2

24.0 2).1 2).0 25.8 2).0 2).81959 1959 1959 1959 1959 1959


8/2952


9/2952

!"#201& Con(en(u( )( Con(e(n(u(

&QF%1'

*95* '1% *948 '0.4%

62.0 61.9

2.6 2.5 16%

0.6 0.5 24%

15.0 14.8

24489) 2445)2 0%

1) 14.8

6)104 '2% 66564 1%

6 5.1

2).4 2).2

6)52 6100

)*856 )2664 2%

31689) 31)864

22.9 24.6

56959 554)* '8%

5) *.6

3290 36)*

56669 '4% 54800 '1%

) *.1

28.8 2).8 *%19)0 19)0

,e


10/2952


11/2952

!"#201& JFM201 AMJ201& JA201

&QF%1 QF%1 1QF%1' 2QF%1'

S e(enues 3 M 2100 2092 21** 2201

IN r"#e 62.0 61.5 59.9 60.6

3 +o+ %

CC e(enue /ro-#h 1.2 30.4 1.5 *.9

S re(enue /ro-#h 1.6 30.4 2.0 *.2

3o %

CC e(enue /ro-#h 11.0

S re(enue /ro-#h 9.9 ).9 ).1 6.5

IN re(enues 3s Mn 1*0260 128)50 12))00 1**420o /ro-#h 24.8 2*.2 1*.* 2.9

:IT *2591 *2810 *2110 *48*0

o /r#h 21.* **.5 20.5 14.0

% &"r/in 25.0 25.5 25.1 26.1

7#her inco&e )*10 8510 8290 )59*

;:T *9901 41*20 40400 4242*

T"< 311150 311400 311540 31155*

% #"< r"#e 2).9 2).6 28.6 2).2

;=T 28)51 29920 28860 *08)0

o % ch"n/e 20.8 25.2 21.6 1).6


12/2952

*.)%

10.40%

14.1%

9.40%

2*.5%

)6.50%

)).)0 '*.6%

218.40

296.10 '4.5%

19).40

49*.50 '2.5%

1606.50

2100.00

'*.6%

'4.8%

'4.5%

0.6%

'2.5%

*.0%

1.6%


13/2952

!"#201 Con(en(u( v( Con(en(u(

&QF%1'e

2218 2218 2225 0%

62.0 61.8

2.6 2.5 2.4 s#ree# $ui,!in/ ,o-er

0.8 0.8 1.1

5.6 ).)

1*)960 1*)485 1*)48* 0% 5.9 5.5 5.5

*.4%

*6890 *605) *61)) 0%

10.6 11.0

26.) 26.2 26.*

)010 )6)*

4*06) 4*892 '2%

312059 312290

28.0 28.0

*1008 *160* '2%

).9 9.9

0 0

*2500 *1008 *160* '2%

).9 *1.*

2).1 2).6 '2%

114* 114*

y


14/2952


15/2952

=c#u", (s consensus

0%

CC hi#

0%

2%

2.8%


16/2952


17/2952

!"#201& JFM201 AMJ201& JA201 !"#201& !"#201& !"#201&

&QF%1 QF%1 1QF%1' 2QF%1' &QF%1' &QF%1' &QF%1/e

S e(enues 3 Mn ' I 16)8 1)20 1)40 1))2 1)95 1810 1)

IN r"#e 61.5 61.) 59.8 61.) 6*.2 1850 6

3 +o+ %

CC e(enue /ro-#h 2.* 2.* 0.* *.0 *.) 0.8%

S re(enue /ro-#h 2.9 2.5 1.2 1.8 1.* *.0%

3o %

CC e(enue /ro-#h 8.* 9.6 8.* 9.)

S re(enue /ro-#h 6.4 8.5 9.6 8.6 ).0

IN re(enues 3s Mn 112)1* 1165*5 111*58 1168*8 119900 1188

o /ro-#h 1) 21 14 8 6

:IT 22814 25*00 2*))1 21)*9 2*141 2*1

o /r#h 26 48 *5 ) 1

% &"r/in 20.2 21.) 21.* 18.6 19.* 1

7#her Inco&e *518 *62) **51 544* 5118 *2

;:T 26**2 2892) 2)122 2)182 28259 26*

T"< 36060 365*6 35942 36199 36228 359

% #"< r"#e 2*.0 22.6 21.9 22.8 22.0 2

Ne# pro># 2014) 22265 210*2 20848 21928 20*

o ?ro-#h 20 41 *0 8 9

;S 8.2 9.1 8.6 8.5 8.9

2460 2460 2460 246) 246) 2


18/2952

JFM2011 AMJ2011 JA2011 !"#2011

Q&F%11 QF%11 Q1F%12 Q2F%12

S e(enues 3 Mn 914 96* 1002 1022

IN r"#e 44.6 44.) 46.4 51.*

4% 11%

3 +o+ % 31.4

CC e(enue /ro-#h 4.8 *.9 5.1 *.)

S re(enue /ro-#h 5.8 5.* 4.1 2.0

'1.0 '1.4 1.0 1.)

3o % '1.* '1.* 0.5 2.1

'0.2 0.2 '0.1 0.5 '0.*

CC e(enue /ro-#h *0.9 24.) 21.9 18.)

S re(enue /ro-#h **.5 *0.5 24.) 18.*

IN re(enues 3s Mn 40))5 4*0*5 4651* 52452

o /ro-#h *2.6 25.6 28.8 *5.8

:IT 5645 646) 64)0 8105

o /r#h 19.2 29.2 46.* 68.2

% &"r/in 1*.8 15.0 1*.9 15.5

7#her inco&e 1* 156 60 36)2

;:T 5659 6624 65*0 )4*2

T"< 31280 31)0) 31)*1 31909

% #"< r"#e 22.6 25.8 26.5 25.)

;=T 4*)9 4916 4)99 552*

o % ch"n/e *6.8 54.8 60.8 48.)

;S 6.* ).1 6.9 8.0

695


19/2952

JFM2012 AMJ2012 JA2012 !"#2012 JFM201& AMJ201&

Q&F%12 QF%12 Q1F%1& Q2F%1& Q&F%1& QF%1&

1048 1080 1114 1154 1191 1228

49.8 54.8 54.) 54.4 5*.9 56.6

'*% 10%

30.5

1.9 4.6 2.9 2.4 *.8 *.9

2.5 *.1 *.1 *.6 *.2 *.1

'0.6 1.5 '0.2 '1.2 0.6 0.8

'0.1 1.0 0.2 '0.8 0.9 0.)

'0.5 0.6 '0.5 '0.4 '0.* 0.1

15.4 16.4 1*.8 1*.0 15.2

14.6 12.2 11.2 12.9 1*.) 1*.)

52156 59191 60910 62)*8 64250 69442

2).9 *8 *1 20 2* 1)

)950 11258 11818 12444 12)58 14611

40.8 )4 8* 54 60 *0

15.2 19.0 19.4 19.8 19.9 21.0

31*6 342* 325* 154 888 )82

)814 108*5 11565 12598 1*646 15*9*

31996 32426 32)18 32951 3*248 3*299

25.5 22 24 2* 24 21

5818 8409 884) 964) 10*98 12094

*2.9 )1 84 )5 )9 44

8.4 12.1 12.8 1*.9 14.) 1).1

)0) )0)


20/2952

JA201& !"#201& JFM201 AMJ201& JA201 !"#201

1QF%1 2QF%1 &QF%1 QF%1 1QF%1' 2QF%1'e

12)0 1*21 1*61 140) 14*4 1451

62.) 62.0 61.* 59.9 60.9 62.0

30.6 0.1

*.6 *.0 2.9 2.8 *.2 *.*

*.5 4.0 *.0 *.4 1.9 1.2

0.1 '1.0 '0.1 '0.6 1.* 2.1

0.6 '0.8 0.1 '0.5 1.0 2.4

'0.4 '0.2 '0.2 '0.1 0.*

15.0 15.1 14.) 1*.1 12.*

14.0 14.5 14.* 14.6 12.9 9.8

)9610 81840 8*490 84240 8)*50 8991*

*1 *0 *0 21 10 10

18950 19400 20600 20*90 20880 20852

60 56 61 40 10 )

2*.8 2*.) 24.) 24.2 2*.9 2*.2

31200 34)0 3)0 1580 1489 20*4

1))50 189*0 205*0 219)0 22*69 22886

3*590 3*980 34290 3*620 35190 34920

20 21 21 16 2* 21

14160 14950 16240 18*50 1)1)9 1)966

60 55 56 52 21 20

20.0 21.1 2*.0 25.9 24.* 25.4

)0) )0) )0) )0) )0) )0)


21/2952

Con(en(u( )( Con(en(u(

1450 0%

61.9

*.2

1.2

9.8

89811 0%

9.)

206)4 1%

6.6

2*.0

1966

22640 1%

34)61

21.0

1)8)9 0%

19.6

25.* 0%

)0)

Manage*ent Gui+an,e-

i. any


22/2952

Te,hM !"#201& JFM201 AMJ201&

&QF%1 QF%1 1QF%1'

S e(enues 3 Mn )91 825 855IN r"#e 61.9 61.* 59.9

3 +o+ %

CC e(enue /ro-#h *.0 2.9

S re(enue /ro-#h 4.4 4.* *.)

3o %

CC e(enue /ro-#h

S re(enue /ro-#h 1).2 18.2 18.1

IN re(enues 3s Mn 48985 50581 51215

o /ro-#h *4 *4 25

:IT 996) 9289 ))92

o /r#h 40.6 42.8 4.*

% &"r/in 20.* 18.4 15.2

Ne# 7#her inco&e 3569 3964 852


23/2952

JA201 !"#201& *ent Gui+an, Con(en(u(

2QF%1' &QF%1'

900 922 922 0% 61.0 62.0 62.0

6.2 4.4 *.4 or/"nic 4.5

5.2 2.4 2.5

18.) 16.6 16.6

548)9 5)140 5)195 0%

15 1) 20

9548 1021) 1014* 1%

'*.4 2.5 2

1).4 1).9 1).)

5*5 1048 )10

'

1008* 11265 1085* 4%

280) 2929 29*0

2).8 26.0 2).0

)196 8286 )896 5%

0.2 '18.0 322

*2.6 *).5 *5.) 5%

'* '21 '24

221 221 221


24/2952

In.ote,h

A!201& "#J201 FM201

QF%1& 1QF%1 2 *onth(

S e(enues 3 Mn 260 256 169

IN r"#e 61.* 61.1 60.9

3 +o+ %

CC e(enue /ro-#h

S re(enue /ro-#h 31.9 31.5 31.0

3o %

CC e(enue /ro-#h

S re(enue /ro-#h 4.8 8.0

IN re(enues 3s Mn 15940 15640 10299o /ro-#h 22 24

:IT 24*) 2*42 1551

o /r#h 6 20 '25

% &"r/in 15.* 15.0 15.1

7#her inco&e 156 211 1)8


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consensus preview 3qfy15 v4 infy day (1)

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