Amid a challenging macroeconomic environment and sustained pressure on discretionary spending, BSOFT reported muted performance; however, an encouraging uptick in deal TCV to USD 236mn (+4% QoQ) from Q3FY25, coupled with management guidance indicating sustained momentum, is expected to deliver growth from Q2FY26. Despite management's optimistic outlook of FY26 surpassing FY25, near-term headwinds lead to softness from furloughs and project ramp-downs in Q1, along with typical seasonality in H2 which are likely to temper the overall performance. While the company remains committed to...
Cummins India (KKC) delivered healthy performance in Q4FY25 which were in tune with our estimates. Revenue for the quarter was higher by 7% YoY and lower by 20% QoQ. The key positive of the management commentary was demand continuing to remain strong and also being broad based across key infrastructure verticals like residential real estate, commercial realty and data centers. Another key positive was of Gross margins coming in at 37.5% for the quarter. This is a result of the management's assiduous efforts in reducing direct material costs, optimizing product mix and suitable pricing. Guidance is of...
