Revenue vs. Margins We Remain Sceptical on Balancing Act' While the street appears to be enthused on healthy revenue growth of KPIT Technologies (KPIT) in 2QFY17, we are concerned about two factors i.e. revenue growth sustainability (given that SAP & IES SBUs remain growth-challenged) and margins. Challenging macroeconomic scenario, disruptive trends like SMAC and company-specific issues have left little room for KPIT to effectively address these twin issues i.e. sustainable revenue growth and sustaining margin at acceptable level. With uncertain revenue growth outlook for 3QFY17, we do not envisage any...