The revenue performance (+4.5% QoQ) was tad below our estimates (+5.2% QoQ CC), while margins were fairly in line. The momentum within Hi-Tech and BFSI accelerated in Q4, while Healthcare growth decelerated further. Healthcare growth is expected to deteriorate even further due to Medicaid funding cut and large deals assuming support phase in FY26. The management indicated that the recent rejig has elevated caution on decision making among few Healthcare clients. However, the outlook on Hi-Tech and BFSI remains...