Equity99
High Red Flag Jindal worldwide CMP 37 Sell Very Poor Fundamental 🚀🚀 Stock Price Crash: The stock has fallen over 55% from its 52-week high, reflecting massive erosion of investor confidence and poor market sentiment. Overvaluation at Current Price: Despite…
Don't fall in Trap Just Sell Fundamental Loser
Morning Alert..
US doubles tariff on India to 50% over Russian crude oil purchases
In a significant escalation of trade tensions, the Donald Trump administration on Wednesday imposed a further 25 per cent tariff on Indian exports to the United States (US), blaming New Delhi’s continued purchases of Russian crude oil. The move brings the total tariff burden to 50 per cent, leaving India at a marked disadvantage compared to global competitors, including China, on virtually all merchandise exports to the US. The US had already announced a 25 per cent tariff on Indian imports, set to come into force from August 7. The additional 25 per cent duty will apply to shipments arriving after a 21-day window, from August 28 onwards. These tariffs are being levied on top of existing World Trade Organization-compatible duties. “I determine that it is necessary and appropriate to impose an additional ad valorem duty on imports of articles of India, which is directly or indirectly importing Russian Federation oil,” Trump said in an executive order issued by the White House. The order states that India’s continued oil trade with Russia undermines US national security and foreign policy interests, particularly in relation to the conflict in Ukraine. India has condemned the tariff hike, calling the US decision “unfair, unjustified and unreasonable” and emphasising how the US in recent days “targeted” India’s oil imports from Russia.
Global Market Action
Dow Jones – Up by 0.13% or 56.76 points
FTSE – Up by 0.24% or 21.58 points
CAC – Up by 0.18% or 13.99 points
DAX – Up by 0.33% or 78.29 points
Gift Nifty – Down by 0.28% or 69.00 points
FII/DII activities
FII – Sold 4999.10Cr worth of shares
DII – Bought 6794.28Cr worth of shares.
Major Indian Indices PE
Nifty 50 – 21.8x
Nifty Bank – 15.2x
Stocks with high delivery percentage
TTK Prestige Ltd – 93.4%
Vinati Organics Ltd – 89.3%
Blue Dart Express Ltd – 89.3%
Adani Energy Solutions Ltd – 83.4%
Atul Ltd – 82.9%
Primary market activities
IPOs opening today
All Time Plastics Ltd (Main board) – Issue size 400.60Cr
Connplex Cinemas Ltd (NSE SME) - Issue size 90.27Cr
JSW Cement Ltd (Main board) - Issue size 3600Cr
Sawaliya Foods Products Ltd (NSE SME) - Issue size 34.83Cr
Listing today
Cash Ur Drive Marketing Ltd (NSE SME) – Subscribed 81.94x
Renol Polychem Ltd (NSE SME) – Subscribed 6.83x
Commodities updates
Gold – Rs 101250/10gm, Silver – Rs 113671/kg, Brcrude – Rs 5700/barrel, Copper – Rs 883.60/kg.
Corporate News
Bajaj Auto cuts electric 2-W production by half amid rare earth shortage.
Airtel in talks with govt on AGR dues-to-equity conversion: Gopal Vittal.
Hero MotoCorp rides on Ather IPO to log 65% surge in Q1 net profit.
US doubles tariff on India to 50% over Russian crude oil purchases
In a significant escalation of trade tensions, the Donald Trump administration on Wednesday imposed a further 25 per cent tariff on Indian exports to the United States (US), blaming New Delhi’s continued purchases of Russian crude oil. The move brings the total tariff burden to 50 per cent, leaving India at a marked disadvantage compared to global competitors, including China, on virtually all merchandise exports to the US. The US had already announced a 25 per cent tariff on Indian imports, set to come into force from August 7. The additional 25 per cent duty will apply to shipments arriving after a 21-day window, from August 28 onwards. These tariffs are being levied on top of existing World Trade Organization-compatible duties. “I determine that it is necessary and appropriate to impose an additional ad valorem duty on imports of articles of India, which is directly or indirectly importing Russian Federation oil,” Trump said in an executive order issued by the White House. The order states that India’s continued oil trade with Russia undermines US national security and foreign policy interests, particularly in relation to the conflict in Ukraine. India has condemned the tariff hike, calling the US decision “unfair, unjustified and unreasonable” and emphasising how the US in recent days “targeted” India’s oil imports from Russia.
Global Market Action
Dow Jones – Up by 0.13% or 56.76 points
FTSE – Up by 0.24% or 21.58 points
CAC – Up by 0.18% or 13.99 points
DAX – Up by 0.33% or 78.29 points
Gift Nifty – Down by 0.28% or 69.00 points
FII/DII activities
FII – Sold 4999.10Cr worth of shares
DII – Bought 6794.28Cr worth of shares.
Major Indian Indices PE
Nifty 50 – 21.8x
Nifty Bank – 15.2x
Stocks with high delivery percentage
TTK Prestige Ltd – 93.4%
Vinati Organics Ltd – 89.3%
Blue Dart Express Ltd – 89.3%
Adani Energy Solutions Ltd – 83.4%
Atul Ltd – 82.9%
Primary market activities
IPOs opening today
All Time Plastics Ltd (Main board) – Issue size 400.60Cr
Connplex Cinemas Ltd (NSE SME) - Issue size 90.27Cr
JSW Cement Ltd (Main board) - Issue size 3600Cr
Sawaliya Foods Products Ltd (NSE SME) - Issue size 34.83Cr
Listing today
Cash Ur Drive Marketing Ltd (NSE SME) – Subscribed 81.94x
Renol Polychem Ltd (NSE SME) – Subscribed 6.83x
Commodities updates
Gold – Rs 101250/10gm, Silver – Rs 113671/kg, Brcrude – Rs 5700/barrel, Copper – Rs 883.60/kg.
Corporate News
Bajaj Auto cuts electric 2-W production by half amid rare earth shortage.
Airtel in talks with govt on AGR dues-to-equity conversion: Gopal Vittal.
Hero MotoCorp rides on Ather IPO to log 65% surge in Q1 net profit.
Equity99
BTST BLASTER AARVE DENIM CMP 178 TEST RESISTANCE 184 SL 172
🚀🚀 AARVE DENIM 🚀🚀
Stock discussed yesterday has climbed up smartly, now trading on higher levels near 182. 🏌♂
Huge potential upside🚀🚀
Stock discussed yesterday has climbed up smartly, now trading on higher levels near 182. 🏌♂
Huge potential upside🚀🚀
Equity99
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🚀🚀 SRI LOTUS DEV 🚀🚀
Sri Lotus Developers & Realty Ltd, a fantastic opener & new entrant in the market, listed yesterday with a bang, a higher premium listing of 19% higher & closed at EOD at 30% higher from the allotment price of 140-150.
Today also the same stock has been performing well and now trading above 204 levels.
Follow Equity99 for more upcoming IPOs with great upside potential. 🏌♂🏌♂
Sri Lotus Developers & Realty Ltd, a fantastic opener & new entrant in the market, listed yesterday with a bang, a higher premium listing of 19% higher & closed at EOD at 30% higher from the allotment price of 140-150.
Today also the same stock has been performing well and now trading above 204 levels.
Follow Equity99 for more upcoming IPOs with great upside potential. 🏌♂🏌♂
Forwarded from Equity99
High Red Flag
Jindal worldwide CMP 37
Sell Very Poor Fundamental 🚀🚀
Stock Price Crash:
The stock has fallen over 55% from its 52-week high, reflecting massive erosion of investor confidence and poor market sentiment.
Overvaluation at Current Price:
Despite weak financials, the stock is still trading at a high P/E of ~52× and a Price-to-Book ratio of ~5×, much higher than industry peers, indicating it remains overvalued.
Flat Revenue Growth:
The company’s sales growth is almost stagnant, with a CAGR of only 0.8% over the past five years, showing no significant business expansion.
Weak Profit Margins:
Operating margins are low at ~8.5%, and net profit margin is only ~3.3%, which signals poor cost efficiency and low profitability.
Low Return Ratios: cash
Return on Equity (ROE) and Return on Capital Employed (ROCE) are modest, averaging 10–13%, which is underwhelming for a company commanding a premium valuation.
Negative/Weak Cash Flows:
Free Cash Flow (FCF) generation is poor or negative in recent years, which means the company is not converting profits into real cash returns for shareholders.
High Debt Levels:
The debt-to-equity ratio is around 1.23×, indicating high financial leverage and exposure to interest rate or refinancing risks.
Promoter Pledging:
Around 8.8% of promoter holding is pledged, which raises concerns about promoter confidence and potential liquidity stress.
Poor Dividend Payout:
The company pays less than 3% of its profits as dividends, offering minimal returns to long-term investors.
Valuation Not Supported by Fundamentals:
With stagnant revenues, low margins, and limited growth prospects, the current valuation multiples are not justified by operational performance.
Jindal worldwide CMP 37
Sell Very Poor Fundamental 🚀🚀
Stock Price Crash:
The stock has fallen over 55% from its 52-week high, reflecting massive erosion of investor confidence and poor market sentiment.
Overvaluation at Current Price:
Despite weak financials, the stock is still trading at a high P/E of ~52× and a Price-to-Book ratio of ~5×, much higher than industry peers, indicating it remains overvalued.
Flat Revenue Growth:
The company’s sales growth is almost stagnant, with a CAGR of only 0.8% over the past five years, showing no significant business expansion.
Weak Profit Margins:
Operating margins are low at ~8.5%, and net profit margin is only ~3.3%, which signals poor cost efficiency and low profitability.
Low Return Ratios: cash
Return on Equity (ROE) and Return on Capital Employed (ROCE) are modest, averaging 10–13%, which is underwhelming for a company commanding a premium valuation.
Negative/Weak Cash Flows:
Free Cash Flow (FCF) generation is poor or negative in recent years, which means the company is not converting profits into real cash returns for shareholders.
High Debt Levels:
The debt-to-equity ratio is around 1.23×, indicating high financial leverage and exposure to interest rate or refinancing risks.
Promoter Pledging:
Around 8.8% of promoter holding is pledged, which raises concerns about promoter confidence and potential liquidity stress.
Poor Dividend Payout:
The company pays less than 3% of its profits as dividends, offering minimal returns to long-term investors.
Valuation Not Supported by Fundamentals:
With stagnant revenues, low margins, and limited growth prospects, the current valuation multiples are not justified by operational performance.
Equity99
Special Situation Stock Quality power Test Resistance Towards 4 Digit 1100 Sl 680
🚀🚀Quality Power🚀🚀
Maintaining its super HIGH Momentum
Flying Higher & Higher at every step 🚀🚀
Recent High after our alert at 760 levels , today closed at 792 levels
🚀🚀🚀🚀
Maintaining its super HIGH Momentum
Flying Higher & Higher at every step 🚀🚀
Recent High after our alert at 760 levels , today closed at 792 levels
🚀🚀🚀🚀
Morning Alert..
PM draws the line amid US tariff heat, govt plans strategy for exporters
Prime Minister Narendra Modi on Thursday declared that India would “never compromise” on the interests of its farmers, livestock rearers, and fishermen even if it meant paying a “heavy personal price”, in a strong response to the United States doubling tariffs to 50 per cent on Indian exports. The Prime Minister’s statement signalled that New Delhi was unwilling to yield to Washington’s pressure for greater agricultural market access. The government, according to people familiar with the matter, is working on a three-pronged strategy to support exporters threatened by the tariff hike. One approach involves launching a sector-specific support scheme under the proposed ₹2,250 crore Export Promotion Mission. Another centres on diversifying export destinations away from the US. The third measure could see surplus products redirected to meet domestic demand if American orders decline. Speaking earlier at the M S Swaminathan Centenary International Conference, Modi said: “For us, the welfare of our farmers is of the highest priority. India will never compromise on the interests of its farmers, livestock rearers, and fishermen. And I am fully aware that I may have to pay a very heavy price personally, but I am prepared for it.” Talks between India and the US on an interim trade deal collapsed last month with disagreements over American dairy products and genetically modified crops proving insurmountable.
Global Market action
Dow Jones – Up by 0.33% or 145.83 points
FTSE – Down by 0.70% or 63.54 points
CAC – Up by 0.96% or 74.29 points
DAX – Up by 1.11% or 268.14 points
Gift Nifty – Down by 0.21% or 53.00 points
FII/DII activities
FII – Sold 4997.19Cr worth of shares
DII – Bought 10864.04Cr worth of shares.
Major Indian Indices PE
Nifty 50 – 21.7x
Nifty Bank – 15.2x
Stocks with high delivery percentage
United Breweries Ltd – 82.1%
Kotak Mahindra Bank Ltd – 81.7%
Westlife Foodworld Ltd – 80.1%
AIA Engineering Ltd – 79.3%
Mankind Pharma Ltd – 79.2%
Primary market activities
IPOs opening today
ANB Metal Cast Ltd (NSE SME) – Issue size 49.92Cr
Medistep Healthcare Ltd (NSE SME) – Issue size 16.10Cr
Star Imaging & Path Lab Ltd (BSE SME) - Issue size 69.47Cr
Listing today
Flysbs Aviation Ltd (NSE SME) – Subscribed 318.68x
Commodities updates
Gold – Rs 101446/10gm, Silver – Rs 114215/kg, Brcrude – Rs 5613/barrel, Copper – Rs 880.55/kg.
Corporate News
LIC Q1 net profit rises 5% to nearly ₹11K cr due to tepid premium growth.
Sunil Mittal to offload 0.8% stake in Bharti Airtel, eyes ₹9,300 crore.
Biocon Q1 results: Net profit down 95%, revenue rises 15% to ₹4,022 cr.
PM draws the line amid US tariff heat, govt plans strategy for exporters
Prime Minister Narendra Modi on Thursday declared that India would “never compromise” on the interests of its farmers, livestock rearers, and fishermen even if it meant paying a “heavy personal price”, in a strong response to the United States doubling tariffs to 50 per cent on Indian exports. The Prime Minister’s statement signalled that New Delhi was unwilling to yield to Washington’s pressure for greater agricultural market access. The government, according to people familiar with the matter, is working on a three-pronged strategy to support exporters threatened by the tariff hike. One approach involves launching a sector-specific support scheme under the proposed ₹2,250 crore Export Promotion Mission. Another centres on diversifying export destinations away from the US. The third measure could see surplus products redirected to meet domestic demand if American orders decline. Speaking earlier at the M S Swaminathan Centenary International Conference, Modi said: “For us, the welfare of our farmers is of the highest priority. India will never compromise on the interests of its farmers, livestock rearers, and fishermen. And I am fully aware that I may have to pay a very heavy price personally, but I am prepared for it.” Talks between India and the US on an interim trade deal collapsed last month with disagreements over American dairy products and genetically modified crops proving insurmountable.
Global Market action
Dow Jones – Up by 0.33% or 145.83 points
FTSE – Down by 0.70% or 63.54 points
CAC – Up by 0.96% or 74.29 points
DAX – Up by 1.11% or 268.14 points
Gift Nifty – Down by 0.21% or 53.00 points
FII/DII activities
FII – Sold 4997.19Cr worth of shares
DII – Bought 10864.04Cr worth of shares.
Major Indian Indices PE
Nifty 50 – 21.7x
Nifty Bank – 15.2x
Stocks with high delivery percentage
United Breweries Ltd – 82.1%
Kotak Mahindra Bank Ltd – 81.7%
Westlife Foodworld Ltd – 80.1%
AIA Engineering Ltd – 79.3%
Mankind Pharma Ltd – 79.2%
Primary market activities
IPOs opening today
ANB Metal Cast Ltd (NSE SME) – Issue size 49.92Cr
Medistep Healthcare Ltd (NSE SME) – Issue size 16.10Cr
Star Imaging & Path Lab Ltd (BSE SME) - Issue size 69.47Cr
Listing today
Flysbs Aviation Ltd (NSE SME) – Subscribed 318.68x
Commodities updates
Gold – Rs 101446/10gm, Silver – Rs 114215/kg, Brcrude – Rs 5613/barrel, Copper – Rs 880.55/kg.
Corporate News
LIC Q1 net profit rises 5% to nearly ₹11K cr due to tepid premium growth.
Sunil Mittal to offload 0.8% stake in Bharti Airtel, eyes ₹9,300 crore.
Biocon Q1 results: Net profit down 95%, revenue rises 15% to ₹4,022 cr.
Equity99
Special Situation Stock 🚀🚀🚀 Promising Long Pick 🚀🚀🚀🚀 Timex Cmp 206/210 Test Resistance 390 / 550 Long Term Sl 185 💥💥💥💥
🚀🚀 TIMEX WATCH 🚀🚀
This Special Situation Stock has been performing greatly in this negative market environment, discussed few days ago (29th July) near 206-210 zone.
Stock got locked up in upper circuit again, now trading high at 288.80 🏌♂
Achieving almost 40% gains in just few days 🏌♂
More action in coming days 🚀
This Special Situation Stock has been performing greatly in this negative market environment, discussed few days ago (29th July) near 206-210 zone.
Stock got locked up in upper circuit again, now trading high at 288.80 🏌♂
Achieving almost 40% gains in just few days 🏌♂
More action in coming days 🚀
🚀🚀Quality Power🚀🚀
Maintaining its super HIGH Momentum
Flying Higher & Higher at every step 🚀🚀
Recent High after our alert at 760 levels , now trading higher at 834 levels.
🚀🚀🚀🚀
Maintaining its super HIGH Momentum
Flying Higher & Higher at every step 🚀🚀
Recent High after our alert at 760 levels , now trading higher at 834 levels.
🚀🚀🚀🚀
Equity99
Special Morning Buzzer Epack Durable CMP 361 Test Resistance 450 / 500 / 530 Sl 310 Coming days View/ short Term View
🚀🚀 EPACK DURABLE 🚀🚀
This Special morning Buzzer stock with great strength, proving its potential in this sluggish market, now stock is trading fresh high levels at 413, discussed at the levels of 361 few days back. 🏌♂
Now getting close to its test levels. 🏌♂🏌♂
Huge potential upside.
🚀🚀🚀🚀🚀🚀🚀🚀
This Special morning Buzzer stock with great strength, proving its potential in this sluggish market, now stock is trading fresh high levels at 413, discussed at the levels of 361 few days back. 🏌♂
Now getting close to its test levels. 🏌♂🏌♂
Huge potential upside.
🚀🚀🚀🚀🚀🚀🚀🚀
Nifty 50 Story:
This chart of Nifty50 defines that in last 1 year from 8th August 2024 to 8th August 2025, Nifty as index has given zero growth. In this complete range of 1 year we have seen highs of 26277 which is life time high of Nifty and on the downside we have seen Nifty making lows of 21743 levels.
When you invest money, you believe that atleast you should gain better than fixed deposits, but one who invested only in index falls short on gaining any growth, between range of 21743 & 26277 there is a range of 4534 in which when you find good entry and exits then it becomes fruitful for your portfolio and wealth. Thousands of investment ideas float between these range one has to smartly choose the investment opportunities, entries & exits.
Do your research work in depth to make money out of market, any and every market conditions offer you opportunity to make or waste your money. Invest wisely and always learn from market.
#equity99
This chart of Nifty50 defines that in last 1 year from 8th August 2024 to 8th August 2025, Nifty as index has given zero growth. In this complete range of 1 year we have seen highs of 26277 which is life time high of Nifty and on the downside we have seen Nifty making lows of 21743 levels.
When you invest money, you believe that atleast you should gain better than fixed deposits, but one who invested only in index falls short on gaining any growth, between range of 21743 & 26277 there is a range of 4534 in which when you find good entry and exits then it becomes fruitful for your portfolio and wealth. Thousands of investment ideas float between these range one has to smartly choose the investment opportunities, entries & exits.
Do your research work in depth to make money out of market, any and every market conditions offer you opportunity to make or waste your money. Invest wisely and always learn from market.
#equity99
Superb Stock Pick 🚀
CDSL Cmp 1570
Test Resistance 2250 / 2500 / 2900 Sl 1260
Short Term View / Long Term View
CDSL Cmp 1570
Test Resistance 2250 / 2500 / 2900 Sl 1260
Short Term View / Long Term View
CDSL ( Next Level Stock )
CDSL (Central Depository Services (India) Limited) is India’s leading securities depository, enabling secure and efficient electronic holding and settlement of shares and other financial instruments. As of February 2025, it became the first Indian depository to cross 15 crore demat accounts, highlighting its reach among retail investors. CDSL’s tech-driven approach, through platforms like the Myeasi Mobile App and e-voting, empowers investors and simplifies transactions across urban and rural India. The company ensures high operational efficiency, safety, and transparency for investors, eliminating paperwork, reducing risks, and supporting easy asset management. Recent initiatives include implementing direct payout settlement and uniform transaction charges, further streamlining investor experience. In 2025, CDSL signed an MoU with IIM Mumbai for data analytics-driven market development and appointed Shri Gurumoorthy Mahalingam as its Chairperson. The company announced a 1:1 bonus issue (record date August 24, 2025), and its stock rebounded strongly, reflecting positive market sentiment. CDSL also facilitates easy pledging of securities for loans and efficient corporate actions like dividends and bonuses. Overall, CDSL’s innovation, expanding investor base, and reliability make it a cornerstone of India’s growing capital markets.
CDSL (Central Depository Services (India) Limited) is India’s leading securities depository, enabling secure and efficient electronic holding and settlement of shares and other financial instruments. As of February 2025, it became the first Indian depository to cross 15 crore demat accounts, highlighting its reach among retail investors. CDSL’s tech-driven approach, through platforms like the Myeasi Mobile App and e-voting, empowers investors and simplifies transactions across urban and rural India. The company ensures high operational efficiency, safety, and transparency for investors, eliminating paperwork, reducing risks, and supporting easy asset management. Recent initiatives include implementing direct payout settlement and uniform transaction charges, further streamlining investor experience. In 2025, CDSL signed an MoU with IIM Mumbai for data analytics-driven market development and appointed Shri Gurumoorthy Mahalingam as its Chairperson. The company announced a 1:1 bonus issue (record date August 24, 2025), and its stock rebounded strongly, reflecting positive market sentiment. CDSL also facilitates easy pledging of securities for loans and efficient corporate actions like dividends and bonuses. Overall, CDSL’s innovation, expanding investor base, and reliability make it a cornerstone of India’s growing capital markets.
Stock Picking ( Strong Potential)
upper candidate 🚀🚀🚀🚀
Pearl Poly Cmp 35
Test Resistance 48 / 54 / 63 Sl 27
Coming days View Strong Potential View
upper candidate 🚀🚀🚀🚀
Pearl Poly Cmp 35
Test Resistance 48 / 54 / 63 Sl 27
Coming days View Strong Potential View
Equity99
Stock Picking ( Strong Potential) upper candidate 🚀🚀🚀🚀 Pearl Poly Cmp 35 Test Resistance 48 / 54 / 63 Sl 27 Coming days View Strong Potential View
Technical Pattern break out above 37 🚀🚀🚀
SPECIAL SITUATION STOCK ( HIGH CONVICTION)
BHARAT ROAD NETWORK ( BRNL ) CMP 19 / 20
TEST RESISTANCE 30 ( 50 % UPSIDE ) CMP 16
COMING DAYS VIEW STRONG POTENTIAL VIEW
BHARAT ROAD NETWORK ( BRNL ) CMP 19 / 20
TEST RESISTANCE 30 ( 50 % UPSIDE ) CMP 16
COMING DAYS VIEW STRONG POTENTIAL VIEW
Hexaware Technologies Q2 CY25 – Key Highlights
- Revenue & Growth: Q2 revenue grew 8.6% YoY, slightly below expectations due to customer decision delays. Five of six verticals posted YoY growth. Financial Services grew 16% YoY; banking rebounded 13.5% QoQ. Manufacturing & Consumer declined 11.5% YoY due to macro headwinds. Asia Pacific expected to accelerate with SMC acquisition. Full-year growth guidance revised down, but $3bn revenue ambition for CY29 intact.
- Profitability & Margins: EBITDA margin at 17.2%, within guided 17.1%-17.4%. One-offs resulted in modest ~15bps margin impact including earnout reversal, impairment, restructuring costs, and provisions. Utilization improved to 83.7%, offshore revenue increased by 110bps QoQ. Attrition remains low. ERP transformation costs taper but continue into H2.
- Strategic Acquisition – SMC Squared: Provides entry into the growing GCC (Global Capability Center) setup market in India (~1,700 GCCs), with expansion opportunities in Europe and LATAM. SMC revenue $22 million last year; acquisition EPS accretive day one. SMC complements Hexaware’s AI and transformation capabilities.
- AI & Software Engineering: Launched AI-based software engineering offerings. Legacy system modernization (RapidX) and cloud transformation (Amaze) winning major deals with airlines, healthcare, and banking clients. Salesforce Agentforce sales execution gaining traction.
- Geographic Expansion: Robust Middle East pipeline; new customer experience center opened in Chicago. Expansion plans continue in India and globally.
- Client and Deal Wins: Added one new $50M+ client, maintaining broad-based growth. Key wins include AI-driven product development, cloud migration, and Salesforce implementations.
- Market & Industry: Current slowdown is cyclical and macro-driven, not structural or AI-related. Vendor consolidation ongoing, causing deal delays. GCC growth viewed as an opportunity.
- Guidance & Outlook: Growth expectations for CY25 revised downward due to macro issues; Q3 expected to improve QoQ. Margin guidance remains steady. Wage hikes implemented in July at moderated levels. Hiring at upper guided range continues.
- Management Tone: Confident in long-term growth and strategy execution despite short-term headwinds. ERP benefits expected by year-end. No further provisions expected on impaired European client.
- Revenue & Growth: Q2 revenue grew 8.6% YoY, slightly below expectations due to customer decision delays. Five of six verticals posted YoY growth. Financial Services grew 16% YoY; banking rebounded 13.5% QoQ. Manufacturing & Consumer declined 11.5% YoY due to macro headwinds. Asia Pacific expected to accelerate with SMC acquisition. Full-year growth guidance revised down, but $3bn revenue ambition for CY29 intact.
- Profitability & Margins: EBITDA margin at 17.2%, within guided 17.1%-17.4%. One-offs resulted in modest ~15bps margin impact including earnout reversal, impairment, restructuring costs, and provisions. Utilization improved to 83.7%, offshore revenue increased by 110bps QoQ. Attrition remains low. ERP transformation costs taper but continue into H2.
- Strategic Acquisition – SMC Squared: Provides entry into the growing GCC (Global Capability Center) setup market in India (~1,700 GCCs), with expansion opportunities in Europe and LATAM. SMC revenue $22 million last year; acquisition EPS accretive day one. SMC complements Hexaware’s AI and transformation capabilities.
- AI & Software Engineering: Launched AI-based software engineering offerings. Legacy system modernization (RapidX) and cloud transformation (Amaze) winning major deals with airlines, healthcare, and banking clients. Salesforce Agentforce sales execution gaining traction.
- Geographic Expansion: Robust Middle East pipeline; new customer experience center opened in Chicago. Expansion plans continue in India and globally.
- Client and Deal Wins: Added one new $50M+ client, maintaining broad-based growth. Key wins include AI-driven product development, cloud migration, and Salesforce implementations.
- Market & Industry: Current slowdown is cyclical and macro-driven, not structural or AI-related. Vendor consolidation ongoing, causing deal delays. GCC growth viewed as an opportunity.
- Guidance & Outlook: Growth expectations for CY25 revised downward due to macro issues; Q3 expected to improve QoQ. Margin guidance remains steady. Wage hikes implemented in July at moderated levels. Hiring at upper guided range continues.
- Management Tone: Confident in long-term growth and strategy execution despite short-term headwinds. ERP benefits expected by year-end. No further provisions expected on impaired European client.