{"id":182439,"date":"2026-05-06T10:15:15","date_gmt":"2026-05-06T14:15:15","guid":{"rendered":"https:\/\/alphastreet.com\/india\/birlasoft-limited-bsoft-q4-2026-earnings-call-transcript\/"},"modified":"2026-05-06T10:18:32","modified_gmt":"2026-05-06T14:18:32","slug":"birlasoft-limited-bsoft-q4-2026-earnings-call-transcript","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/birlasoft-limited-bsoft-q4-2026-earnings-call-transcript\/","title":{"rendered":"Birlasoft Limited (BSOFT) Q4 2026 Earnings Call Transcript"},"content":{"rendered":"

Note:<\/strong> This is a preliminary transcript and may contain inaccuracies. It will be updated with a final, fully-reviewed version soon.<\/em><\/p>\n

Birlasoft Limited (NSE: BSOFT) Q4 2026 Earnings Call dated May. 06, 2026<\/span><\/strong><\/p>\n

Corporate Participants:<\/h2>\n

Abhinandan Singh<\/strong> \u2014 Head of Investor Relations<\/em><\/p>\n

Angan Guha<\/strong> \u2014 Managing Director, Chief Executive officer & Member of Executive Board<\/em><\/p>\n

Chandrasekar Thyagarajan<\/strong> \u2014 Chief Financial officer<\/em><\/p>\n

Analysts:<\/h2>\n

Dipesh Mehta<\/strong> \u2014 Analyst<\/em><\/p>\n

Sudheer Guntupalli<\/strong> \u2014 Analyst<\/em><\/p>\n

Presentation:<\/h2>\n

Operator<\/strong><\/p>\n

Ladies and Gentlemen, good day and welcome to Q4 and FY26 earnings conference call hosted by Birla Soft Limited. As a reminder, all participant lines will be in the listen only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference call, please signal an operator by pressing Star then zero on your touched on phone. Please note that this conference is being recorded. I now have the conference over to Mr. Abhinandan Singh, head Investor Relations Head thank you and over to you Mr.<\/p>\n

Singh.<\/p>\n

Abhinandan Singh<\/strong> \u2014 Head of Investor Relations<\/em><\/p>\n

Thank you and welcome folks. By now you have received or seen our results as I announced earlier today. Those are also available on our website www.birlasaux.com in the investors section. Joining me on this call this Evening are our CEO and MD Mr. Anvin Guha and our CFO Mr. Chandrasekhar Tyagradan of or Chandru as we call them. We will read the call today with the opening remarks from both Angan and Chandru. But before I hand over the floor to Angan, a quick reminder that anything that we say on this call and the company’s outlook for the future could be a forward looking statement involving significant uncertainty and therefore that must be heard or read in conjunction with the disclaimer that appeared in our investor update which you would have received and is also uploaded on our website as well as coined with the stock exchanges.<\/p>\n

With this, let me hand over the floor now to Mr. Angan Buha, our CEO and MD. Over to you Angan.<\/p>\n

Angan Guha<\/strong> \u2014 Managing Director, Chief Executive officer & Member of Executive Board<\/em><\/p>\n

Thank you Abhi. So good morning and good evening to everyone wherever you are and thank you for joining us today as we share some perspectives of our fourth quarter and full year FY26 performance. But before I delve into our results, I would like to point out that our performance during the quarter and year under review reflects a very soft demand environment due to sustained macroeconomic headwinds leading to some client specific issues and as a result erosion of revenue. In that backdrop we remained focused on strengthening our capabilities and domain expertise while also driving operational efficiencies and focus on auto booking.<\/p>\n

At the same time, we have continued to invest in our management team. We recently onboarded Vikram Puranik as our Chief Operating Officer. Vikram joins us with a strong background in engineering, services delivery operations and capability building, having served as a senior leader at leading engineering services organizations. He comes in place of Selva who’s decided to step down on account of personal reasons. In addition to that, in recent months we have brought on many more leaders across various levels in the company.<\/p>\n

We brought on a leader for our data and AI practice. We brought on a leader for our overall ERP practice. We’ve got a leader for our global partnerships and alliances based in San Francisco and we also now have a new leader for our Life Sciences vertical. As you know, we had inducted Komal Jain as a leader for our Americas business back in Q3. These leaders that we have added have all come in from Tier one companies and we hope that they will bring a lot of expertise to the growth orientation that we want to look going forward.<\/p>\n

Our ERP leader is a 25 year old veteran from SAP and with the addition of this leader we hope to look at our ERP business and get that back to growth as well. At the same time we are also making significant efforts to further strengthen our sales team and expect to see a substantial increase in that over the next few months. By the middle of FY27 I reckon that our sales team strength would have gone up by 30 to 40% on a year on year basis. Many of these additions are in line with our intent to pivot to a growth oriented AI first organization.<\/p>\n

With that background in context, I would like to draw your attention to our Q4 results and our full year performance on the revenue side for Q4FY26 our revenues grew 0.1% quarter on quarter and 2.4% year on year in rupee terms reaching rupees 13,486 million. However, our revenues declined sequentially in dollar terms for the full year FY26 our revenues were down 1.2% in rupee terms to rupees $5,300 million 100 million. That reflects the challenging demand environment that I had earlier alluded to.<\/p>\n

Some headwinds because of that in account specific issues that we have faced upfront productivity benefits that we have to pass on because of AI deals that we have won and also adding to that some bold decisions that we took of walking away from several nonprofitable revenue streams that affected our overall revenue but contributed in our margin expansion. Consequently, our EBITDA margins expanded further in Q4 on back of expansions recorded in Q2 and Q3 and to 18.5% EBITDA margins for the full year.<\/p>\n

FY26 increased to 16.3% from 13% in FY25, a 333 basis points expansion. The strong margin performance has led to a 46.7% QoQ rise in our profit after tax for Q4 to rupees 1759 million. The pact for the full year FY26 adjusted for the one time impact for labor code changes and higher US federal tax is up 27.6%. YoY, which came in at rupees 6595 million. Chandru, our CFO will provide some more color but both on the margins and cash flows in his remarks on the deals front. I’m pleased to observe that after a significant spike in TCV volumes during Q3, we have recorded a further sequential increase in total deal signings in Q4, making it a second quarter in a row where we have registered order booking above the 200 million mark.<\/p>\n

We’ve signed deals worth 208 million TCV during Q4 which is 3% higher than what we signed in Q3 of FY26. Across many of the deals that we have won and the engagements we are working on, we are deploying our AI powered solution including our COGITO platform which is designed to accelerate enterprise software development, automate processes and enhance decision making through smart agents. For instance, buildersoft is executing a multi horizon AI and data modernization program for a Fortune 500 med customer, leveraging agentic AI to enable them automate and orchestrate complex workflows across multiple business domains such as supply chain, commercial, sales, finance and manufacturing.<\/p>\n

This positions our engagement as a flagship multi domain AI led transformation in the MedTech sector. Similarly, in BFSI a vertical we are scaling our Genai services across the North American PNC market to help clients process more submission and realize measurable efficiencies and business gains. Looking ahead As I had mentioned earlier, the demand environment has been quite challenging marked by a lot of uncertainty and added to its development related to trade. Tariffs and geopolitics have made the situation even more volatile from that standpoint.<\/p>\n

FY26 has been somewhat unprecedented where we fell short of our own expectations on the revenue front while improving margins significantly. That said, we’ve taken measures to strengthen our growth engine. We’ve made significant investments in our teams with the addition of several leaders on the sales front. We’ve completed hiring of multiple additional sales talent across both US as well as Europe, GEOs and across verticals and service lines. We are looking at expanding our sales teams further over the next couple of quarters.<\/p>\n

With these additions we will significantly enhance our capacity and capability of our sales teams. We’ve made significant investments in our AI platforms and we have won some market deals around our AI push. We are further strengthening our AI first operating model with significant changes in our delivery mechanism and should be able to see benefits from that over the next couple of quarters. Finally, we continue to invest in our people to build an enterprise for the long term. Our focus going forward will only be centered around sales, pipeline generation and order booking which will be around outcome based and managed services engagements.<\/p>\n

At this point I will ask Chandru, our CFO to share his perspectives on the quarter and the year under review. Chandru, over to you.<\/p>\n

Chandrasekar Thyagarajan<\/strong> \u2014 Chief Financial officer<\/em><\/p>\n

Thank you Angan. Good day everyone. It’s a pleasure to talk to you again. Let me take you through the financial highlights for the fourth quarter of FY26 and then for the full year FY26. First the fourth quarter performance as Angan said, our performance during the quarter has been mixed. While the top line reflects both macro and some client specific issue, we’ve seen our margins continue to expand. We also have had healthy deal signings in Q4 we had fewer working days than Q3. Additionally, an operational issue at one of our customers affected our volume growth.<\/p>\n

These factors combined with the prevailing crop demand conditions that Angan spoke about where customers have been holding back on discretionary spend and are pushing for productivity benefits resulted in revenue for the quarter declining 2.7% quarter on quarter constant currency and in dollar terms to $145.3 million. In INR terms, revenues are being flat up 0.1% quarter on quarter to rupees 1,348.6 crore. Among our vertical, ENU registered a sequential growth and was up 1.8% during the quarter.<\/p>\n

The other vertical witnessed a deep growth. On account of the reason I just mentioned, margin performance has been strong reflecting the series of decisive actions that we have been taking over the past three quarters to enhance our quality of revenue and optimize our cost structure. In addition, we have benefited by incremental one off in Q4 versus Q3. Also we saw continued upside from currency tailwinds. As a result, EBITDA margin for Q4 increased to 18.5% which is an expansion of 30 basis points quarter on quarter.<\/p>\n

We continue to make investments in our business including in the areas that Angan alluded to, that is Augmentation of our sales team, focus on our AI orchestration layers and enhancement in our domain and service line capabilities. Pact for the quarter increased from $13.4 million in Q3 to $19 million in Q4. This was driven by two factors. One there was a strong margin expansion at the OPER and two we took the benefit of available tax concessions in some of our global operations. Now to the full year performance for the full year FY26 we have reported consolidated revenue of 597.5 million and rupees 5310 crore, representing a degrowth of fixed percent in dollar terms and 1.2% in rupee terms respectively over the previous year.<\/p>\n

On the margin front, again, we have delivered significant expansion on the back of serious efforts that we have put in to drive operational efficiencies and to improve overall quality of our revenue. The measures we’ve taken included rationalizing those tail accounts that were not profitable or where we did not see potential to scale. Up. Our EBITDA for the year which stood at $1.97 $5 million is up 18.2% year on year, translating into an EBITDA margin of 16.3%. This is a 333 basis point expansion over the previous year.<\/p>\n

Back for the year stood at $58.3 million, lower than $61.1 million in the previous year. Due to the combined impact of changes in Labor Code which affected our Q3 numbers and a provision made for incremental US federal tax in FY26, the tax concession that came in Q4 did act as a tailwind. The elevated ETR due to incremental US tax as I called out on our earlier calls was limited and will be limited to FY26 and we expect ETR to settle closer to our historical etr level starting at 527. Adjusted for the incremental provision for US federal tax and the one time provision made on account of changes in Labor Code, normalized tax for the year would have been 74.2 billion dollars up 21.5% year on year or rupees 659.5 crores up 27.6% year on year.<\/p>\n

This would translate into an adjusted basic basic EPF of rupees 22.14 per share. Balance Sheet and Conclusion Let me conclude with a few observations on the balance sheet. We ended the year with cash and cash equivalents of rupees 2637.3 crore up 19% year on year. While our DSO for the period under review increased sequentially to 62 days. The increase was caused by an unanticipated spillover of some collections in the first couple of days of April. If we were to adjust for the collection realized by 3rd of April 2026, our DSO would have been 55 days.<\/p>\n

We remain committed to staying focused on sustained cash flow generation in line with our track record of Rewarding shareholders and allocating capital prudently. The board of directors has proposed a final dividend of Rupees four per share, subject to shareholder approval. This combined with the interim dividend paid out after our Q2 board meeting takes our overall dividend for the full financial year to rupees 50 per share. We are entering the new financial year with a strong margin profile and a robust balance sheet allowing us to make continued investments in AI capabilities and in talent required.<\/p>\n

With this I open the floor to questions.<\/p>\n

Questions and Answers:<\/h2>\n

Operator<\/strong><\/p>\n

Thank you very much. We will now begin with the question and answer session. Anyone who wishes to ask a question may press star and one on the attached on telephone. If you wish to remove yourself from the question queue you may press star N. Participants are requested to use handsets while asking a question. Ladies and gentlemen, we will wait for a moment while the question queue itself. The first question is from the line of Girish Bhai from Bob Capital Markets. Please go ahead.<\/p>\n

Dipesh Mehta<\/strong><\/p>\n

Yeah, thanks for the opportunity. And then the year was down. Revenue was down negative 6.5%. In constant currency terms, how do you see FY27 play out? Do you think growth in FY27 will be positive? And if so, how will that growth play out across the four quarters or the two halves?<\/p>\n

Angan Guha<\/strong><\/p>\n

Yeah. So Girish, thank you. Thank you for your question and thank you for your interest in our company. So look we. If you really analyze our 6.5% DE growth like we called out a part of it was because we ourselves walked away from some revenue that was non profitable. Right. So that is one second like I said that because lot of our deals are now AI related where we have to give productivity benefits right up front that also dented our revenue and quite frankly we were not able to win too much business to compensate for the negativity that happened which are very account specific.<\/p>\n

Now going forward, as you know, we do not give our guidance. But if you look at the investments that we have made, we’ve gotten almost a large number of leaders who have come in at the leadership level. Like a new leader for our life sciences vertical, a new leader for ERP which has not been doing well over the last so many quarters. We’ve got a new leader in Vikram himself. So we’ve got a lot of new leaders. Even the sales motion, like I said almost we’ll have a 40% increase in our sellers in the market.<\/p>\n

So we are hoping with that our pipeline will improve, our order book will improve and eventually the revenues will improve. So we are hoping that the bad News is behind us now and FY27 will be better for us. Now we will not give a guidance in terms of how much revenue going forward and the market is also very volatile. But at least we are getting the input parameters corrected. Girish.<\/p>\n

Dipesh Mehta<\/strong><\/p>\n

And between H1 and H2, which would be a better half.<\/p>\n

Angan Guha<\/strong><\/p>\n

So in order booking. Girish, as you know that H1 is always soft and H2 is better from an order booking perspective, I don’t see that changing. From a revenue standpoint, it’s hard to say at this stage, but our endeavor will be to first get the pipeline fixed. In getting the order booking going, revenues will automatically follow.<\/p>\n

Dipesh Mehta<\/strong><\/p>\n

You spoke about sales engine being ramped up. How will this impact the SGA related costs and the exit margins in FY27?<\/p>\n

Angan Guha<\/strong><\/p>\n

Yes, I’ll ask Chandru to comment on that part. But look, we’ve done a lot operationally to increase our ebitda. As you have seen, our EBITDA performance has been very, very strong over the last four quarters and the team has done an excellent job which enables us to kind of invest in our business going forward. So going forward our entire endeavor will be, the entire focus will be to generate more pipeline, more order bookings. So it will be a completely growth oriented, sales oriented organization going forward and we’ll make a lot more investment.<\/p>\n

That obviously will have an impact on our margins. But to quantify that, I’m just going to ask Chandhu for his comments. Chadhu.<\/p>\n

Chandrasekar Thyagarajan<\/strong><\/p>\n

Yes. You will recall Girish, that in the past quarter as well we said that a steady state EBITDA margin performance for us would be in the 15% range. Right? So we, if you, if you look at our numbers, we are at 18.5% for Q4. And my expectation is that as we make some of these investment, we will continue to, we will continue to do that for the, for the required growth that we need. That we need. And our business model already bakes in this ramp up in sales and the investment that we committed to make.<\/p>\n

While I spoke about the 15% plus that we will make on a consistent basis.<\/p>\n

Dipesh Mehta<\/strong><\/p>\n

Okay, my last question is regarding your ERP business. There have been comments made a Palantir on compression and efforts and stuff like that with SAP migration, SAP implementation. What are you seeing in the market today or what are you seeing yourself in terms of AI impact on your ERP business? Is that compressing or deflating your ERP revenues in a material fashion or do you see that happening going forward?<\/p>\n

Angan Guha<\/strong><\/p>\n

So Girish, first of all, our ERP business has been very challenged irrespective of of the Palantir’s announcement or the AI. Related Stories We’ve consistently not performed on our ERP business. Now the good news is I think finally we’ve been able to get a leader to lead our ERP business. He’s going to be based out of New York. Like we said in our earlier commentary, he’s worked 25 years with SAP and we are quite delighted to welcome him to lead our ERP business. We strongly believe our ERP business will only continue to improve from here.<\/p>\n

System of records is not going away and we of course we have looked at the Palantir announcement. We are closely monitoring it. But at least in our conversations with our clients, we are seeing a lot of interest in terms of the overall ERP landscape, whether it is SAP, whether it is gp, jd, et cetera. And we will continue to stay invested in this business. We see a lot of long term potential here.<\/p>\n

Sudheer Guntupalli<\/strong><\/p>\n

Okay, thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. I request to all the participants, kindly limit yourself to one question per participant and rejoin with you for a follow up question. The next question is from the man of from Kotak Mahindra. Please go ahead.<\/p>\n

Sudheer Guntupalli<\/strong><\/p>\n

Hey. Hi. First question is if you can throw some more color on which exact vertical you face this operational<\/p>\n

Operator<\/strong><\/p>\n

Issue with the client or client specific issue impacting your overall revenue. Is it BFSI or life sciences?<\/p>\n

Angan Guha<\/strong><\/p>\n

It is life sciences and within life sciences it is a med tech sector, medical devices sector. So it is more manufacturing orientated. So that’s where we face the issue. Girish. Which is why it is reflected in our life sciences business. But our life sciences business as Sudhir you know that you know it is more manufacturing orientated. So that’s where our biggest has been.<\/p>\n

Operator<\/strong><\/p>\n

Sure. Angan. And is this issue completely behind that is question number one and question number two is the net new TCG booking seem to be a bit on the softer side for this quarter. So any further color that you may want to add on that?<\/p>\n

Angan Guha<\/strong><\/p>\n

Yeah. So Sudhir, I intuitively feel that the bad news in both manufacturing and devices sector is behind us. We’ve taken a lot of hit because of the macroeconomic situation. Also situation related to the operational issues of some of our clients which I can’t delve into too much. But suffice to say that it’s very client specific which is why we are now seeing a turnaround there and we feel that this will not occur going forward. So that is point number one. Point number two is from our perspective the entire focus now having delivered strong margin performance will be growth orientation and all the investments that we are doing are only to deliver greater growth going forward.<\/p>\n

Sudheer Guntupalli<\/strong><\/p>\n

Yeah,<\/p>\n

Operator<\/strong><\/p>\n

Sudhir, can I request to come back please for a follow up?<\/p>\n

Angan Guha<\/strong><\/p>\n

Sure. No, no, let him please answer that. Yeah, Sudhir, please go ahead. Please go ahead with the other question.<\/p>\n

Sudheer Guntupalli<\/strong><\/p>\n

Yes. No, no, My question is<\/p>\n

Operator<\/strong><\/p>\n

More specific to the<\/p>\n

Angan Guha<\/strong><\/p>\n

TCV<\/p>\n

Operator<\/strong><\/p>\n

Net new TCV which appears a bit soft in this quarter. Is there any particular reason or deal slippage into the June quarter because of which this happened or is there any specific, any other specific issue? And last question from my end is on margins. So for the last two, three quarters we have been consistently surprising on the positive side on margins. So 15% plus looks like a bit of a low ball expectation at this stage. So we understand that there is a bit of a FX benefit that we have gotten in terms of this margin expansion.<\/p>\n

But even if you exclude that, Chandra, if you can help us understand what is the most sustainable level of margin since we are way above the aspirational range of 15% less, that would be from me. Thank you.<\/p>\n

Angan Guha<\/strong><\/p>\n

Yeah. So Sudhir, first let me talk about the TCV performance. So first of all, second quarter in a row we delivered above the 200 million mark. Now I agree with you that only at an overall year level, roughly about 38% of our order booking is really from existing new and net new. So which to my mind is a, a reasonably good performance. But Q4 specifically, our net new is obviously very soft, but I don’t think there is anything more to read towards it. It is only because so many of our clients are delaying decision making because of the uncertainty.<\/p>\n

It’s not that we have lost any deals, it’s just getting pushed to Q1 and our entire focus will be to kind of convert all those deals in this current quarter on the margins. I will just ask.<\/p>\n

Chandrasekar Thyagarajan<\/strong><\/p>\n

Thanks. Back on the margins. One of the points that I did make to Girish’s earlier question was that we are making investments not only in sales but also in leadership across our service lines, in our partnership. We are making investment in our AI orchestration layer and in some of our capabilities that all of this is going to be a drain on our margins. And that is why I did mention, I continue to believe that our steady state margins that we should expect is going to be upward of 15% and there will be an erosion from where we are today obviously because of these investments.<\/p>\n

And secondly, you should also recognize the fact that when we’re looking at additional growth, there will be a ramp up which will be natural from the way we do our business. And third, when you’re looking at the productivity benefits that some of our existing and new clients are expecting offer, there will be some front ending of some of those benefits which will have which will have an initial drain on our margins. Taking all of this into consideration is why I said that 15% would be a sustainable number as I see it at this point in time.<\/p>\n

Yeah, thanks. That’s it from me. All the best.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. Next question is from the line of Dipesh Mehta from MK Global Financial Service. Please go ahead.<\/p>\n

Dipesh Mehta<\/strong><\/p>\n

Thanks for the opportunity. Just two questions. First is about can you give quantify impact of exit from low margin business on FY26 growth rate. And second is what kind of deal intake required for you to get confidence on top growth resume for us some ballpark number in terms of deal intake number things.<\/p>\n

Angan Guha<\/strong><\/p>\n

So Dipesh, thank you for your question. So look, we cannot give exact numbers because that is very client specific Dipesh. But we can only say that at least 200 basis points of growth roughly went away because we walked away from low margin non strategic people. And there are two aspects to it. One is low margin deal. The others are also non strategic deals where we didn’t see any further opportunity to grow. Now exact numbers we can’t obviously give but it is around that figure. Now what was your second question, Dipesh?<\/p>\n

Before<\/p>\n

Chandrasekar Thyagarajan<\/strong><\/p>\n

You get to the second question Dipesh, just to add to what Anan said, we also talked about the lower working days in fourth quarter versus the third quarter. So the 200 basis points that Angan just spoke about take into consideration that one element as well.<\/p>\n

Angan Guha<\/strong><\/p>\n

Yes. And what was your second question Ditesh?<\/p>\n

Dipesh Mehta<\/strong><\/p>\n

What kind of dig intake on quarterly basis required for you to get confidence about QQ growth on sustainable basis returning?<\/p>\n

Angan Guha<\/strong><\/p>\n

Yes. So Dipesh, look, first quarter always is a little soft on order booking. Correct? From our perspective our endeavor will be to deliver strong order booking performance. Again I can’t give you exact figures on this internally obviously we have a target which is why we are hiring 30, 40% more salespeople. Because now the focus of the company is going to be clearly revenue growth. That’s important for us because we’ve not performed for the last almost six, seven quarters. I would not like to give the exact number but it will definitely be substantially better than the order book we delivered in FY26.<\/p>\n

Dipesh Mehta<\/strong><\/p>\n

Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. Next question is from the line of Sandeep Shah from Equator Securities. Please go ahead.<\/p>\n

Dipesh Mehta<\/strong><\/p>\n

Yes, thanks for the opportunity. And then as you rightly said, this is the sixth quarter in a row where the CCQ on Q growth is flat or declining, macro issues are common for the industry at our base. It should not have impacted so much. Despite that, the decline of 6.5% is one of the highest in the revenue across many stocks. So in terms of creating a team around sales, delivery, AI, when you joined, we also done a restructuring round by making investment in new leaders, turning leaders both on sales and delivery.<\/p>\n

So what has gone wrong in a previous restructuring cycle and why you are confident this time in terms of again a second round of restructuring?<\/p>\n

Angan Guha<\/strong><\/p>\n

So Sandeep, look, we ourselves are pretty disappointed with our performance. Let me start by saying that and there’s no hiding away the fact that six quarters we have not grown, right? So clearly the leaders that we had hired earlier have not delivered and we had to make changes at multiple levels. Correct. So from that perspective, the reason why I am now, well, let me not even say from a confidence perspective, but the one thing that I can tell you is the following that we have invested for growth.<\/p>\n

Right now we are hiring leadership. We’ve already hired a lot of leadership. We’ll continue to hire more sellers and by end of Q2, we’ll probably have 40% more sellers than we have today. With the objective that as we have more and more sellers, our pipeline will improve and eventually our order booking will improve. That’s what I’m betting on. Now if you look at the kind of talent that we’ve been able to attract, the leaders in data and AI leaders on our ERP business, I at least feel and I get great confidence from the kind of talent we have got.<\/p>\n

Right? So from that standpoint, I am confident that with the kind of talent that we have got, the bad news being already baked in having the money to invest in our business in our AI first operating model can only get the company better because quite frankly we are at the bottom of the right now, as you said. So I’m only hoping that the company will get better from here on and which is why we continue to stay invested and we are putting in so much more investment as we go forward. So Sandeep, I don’t know whether I’ve answered your question exactly, but at least the management team is confident that with all the investments that we are making, the company should turn around sooner rather than later.<\/p>\n

Dipesh Mehta<\/strong><\/p>\n

Thanks. Thanks. Just the follow up. You said most of the client specific issues are behind now entering FY27. And second, as you had said, the deal expansion on the sales will be over 40% by the middle of this financial year. So in that scenario, pipeline creation and PCB conversion may not happen in the upper starting one edge of FY27. So is it fair to assume because of all these changes the benefits would be visible in FY28 rather than FY27? And most of the pains on the client specific issues are behind or you still believe those client specific issue to<\/p>\n

Angan Guha<\/strong><\/p>\n

Continue in FY27 in the near term. So Sandeep, if the situation continues as is today, then the client specific issues are behind us. Now we don’t know what we don’t know. If something more drastic were to happen going forward, then we cannot comment. But I can only tell you two things that we’ve already done a lot of the hiring, they’re already behind us and we will continue to add sellers as we go forward by end of Q2. So you’re correct. Some of these sellers to settle down, build a pipeline and then get the order source is going to be crucial and then the revenue will follow.<\/p>\n

Now we’ll have to see how the sequencing happens. But look, our view is that quarter on quarter pipeline improvement we are already starting to see. Now we have to show that up in order booking and eventually revenue will come. Okay, thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. Next question is from the line of Ravi Menon from Access Capital. Please go ahead.<\/p>\n

Sudheer Guntupalli<\/strong><\/p>\n

Thank you for the opportunity. Again, your top five customers have been growing and finally this quarter we’ve actually seen that flat line. So just wanted to check is there anything that’s temporarily stopping the event we can expect growth to resume.<\/p>\n

Angan Guha<\/strong><\/p>\n

Sorry Ravi, your voice broke up. I couldn’t quite understand the question. Sorry, can you repeat the question again please?<\/p>\n

Sudheer Guntupalli<\/strong><\/p>\n

Yeah, I was saying that the top five customers have been growing quite well. Now we had a quarter where business flatlined. So just want to check if there was anything within the top five that’s been a client specific issue this quarter and then we can expect this to improve.<\/p>\n

Angan Guha<\/strong><\/p>\n

Yeah. So Ravi, I don’t think we have a client specific issue in our top five clients. I think the top five clients are are pretty strong. It is a seasonal issue. I don’t see that to be a problem. The growth will be back on the top five. I think the next five and the next 10 is where we need to put a lot of focus to get new real estate and new clients. Which is why we are investing so much more in sales than we have ever done before.<\/p>\n

Sudheer Guntupalli<\/strong><\/p>\n

Thank you. I saw that although you talked about investment in sales this quarter, the sales and support headcount is slightly down. So should we think about that as more GNA cut and you know, while you’re actually adding sales and marketing personnel.<\/p>\n

Angan Guha<\/strong><\/p>\n

That is correct.<\/p>\n

Sudheer Guntupalli<\/strong><\/p>\n

Thank you so much.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. Next question is from the line of Priyank Chera from Vallum Capital Advisors. Please go ahead. Priyank, may I request unmute your line and proceed with your question please?<\/p>\n

Dipesh Mehta<\/strong><\/p>\n

Yeah, hi. Thank you. Sorry, I was on mute. A few observations which has been quite a bit of contrasting when it comes to IT sector. First is we’ve been generating 500 crores of annual cash flow which is after tax, after all the working capital requirements and still the dividend payout has been flat for the full year. Right. Which, which ultimately what happens is we load up a lot of cash on our balance sheet and then we have a restructuring program which is going on internally wherein we plan to grow organically.<\/p>\n

Right. And when it comes to the industry, the same pattern, a lot of our players or the players in this industry have return the cash on balance sheet to the rightful owner, which is equity shareholder. What’s our thoughts around this trend and the contrasting observation that I have observed? And the second observation that I would like to share is again within this industry, be it from a $20 billion size of revenue company to $40 billion, almost everyone would share the pipeline number guidances, maybe even more granular details.<\/p>\n

While it’s been difficult for us to judge what should be the trend that we should also judge because we also are responsible to answer our principles. So these are the two contracting observations and would like to know your thoughts on this. Super.<\/p>\n

Chandrasekar Thyagarajan<\/strong><\/p>\n

Let me take the question on cash and dividend. Priyank, I think this question had come up earlier too. Right. So clearly the dividend payouts that the board has recommended, which is as you rightly said in line with what we did, what we did declare in FY25 is based on the premise on performance. And if you at look, look at our pat, it’s been a very similar pat on a year in basis and therefore the consideration was on the dividend in relation to our pat and therefore the dividend payout ratios. So that was one and second overall the cash in the balance sheet, you know you’re right that it rightfully belongs to shareholders.<\/p>\n

And if you have all that board is taking on behalf of the shareholders and recommending to the shareholders and everything that everything that you said is certainly in consideration and is in play with the board. And you know, and we assure as a leadership team that the board will take the right call on the cash on a Go forward basis.<\/p>\n

Angan Guha<\/strong><\/p>\n

So Priyank, on the second question in terms of the guidance look the situation is very very volatile currently. Specifically for a smaller company the volatility is hard to predict which is the reason we do not give guidance. But like we have said in the last half an hour, you know Priyank, we will continue to focus on investing for growth and investing for sales. We’ve done a lot on the operating margin front in the last four quarters. We’ve done significant cost takeout and we now feel more comfortable and have the money to invest in sales.<\/p>\n

That’s all we can do. Our focus will be to generate pipeline and order both and automatically revenues will follow. So we’re trying to get the company back on the growth track and that is what the management will say focused on.<\/p>\n

Dipesh Mehta<\/strong><\/p>\n

Sure. Just just to add on this again back Chandru sir, by when should we expect that boards board would start thinking about a positive generation on incremental return on capital which means that to the cash that we generate doesn’t just sit on the balance sheet rather it’s either used for a growth or maybe used for or maybe it’s given back to the rightful owners. So I just want to know what would be the timeline that we should think of it by when board would think of for the in the favor of minority shareholders.<\/p>\n

As of now it doesn’t look like and on second observation again sir on just a follow up with completely trust your strategy. There’s no doubt and hence we have been remain invested. What we would like to now know is after a series of restrictions that you have done what would be the timeline that we should think of it if not the numbers, if not the guidance or if not maybe any specific metric that you would like to call out. Maybe you would like to call out what would be the timeline that we should think of it wherein we start witnessing the growth or maybe the expressions that you would hold for a company to be a part of a successful company within the whole of the IT system.<\/p>\n

What would be the timeline that we should also think going ahead. That’s all. Thank you and all the best.<\/p>\n

Angan Guha<\/strong><\/p>\n

Yeah. So Priyank, the second question I’ll take and then I’ll ask Chandu to comment on the first question. So Priyank, as you will know which you already know that revenue is a manifestation of the pipeline and the order book that we can generate right now we are fixing the basics. We have hired leaders, we are hiring sellers, we’re adding more sellers as we go into Q1 and Q2 with the hope that all the sellers are coming in and will generate more pipeline and hence generate more order book and then the revenue will come.<\/p>\n

Now it’s hard to say which quarter onwards it will happen but at least we have well we recognized it and we earlier did not have the margins to invest but now our margin situation is better so we’re investing for growth. So give us some time out. Our endeavour as a management team is to focus and get the company back to quarter on quarter growth which we will all be focused on and we will deliver that. On the cash part again I defer to Chandu for his comments<\/p>\n

Chandrasekar Thyagarajan<\/strong><\/p>\n

On the cash. Priyank, rest assured that we will immediately let the shareholders know as soon as a call is taken. Unfortunately at this time I will not be able to say anything on behalf of both and we will certainly let you know as soon as we get more information.<\/p>\n

Dipesh Mehta<\/strong><\/p>\n

So just if I can may just give you a few four quarter specific one question just on the manufacturing side I’m just referring back to the notes of Q3 when in Q3 we did said that manufacturing had a previous deal ramp up and so should not be the Q4 witnessing that growth but instead we have seen that growth coming up in manufacturing. So what should be that consistency that we should think of it when it comes to manufacturing. And again a contrasting thing in BFSI where in acute we had a furlough and we had did mention that from the base of Q3 Q4 will see definitely a good growth coming up in BFSI which we are yet to see.<\/p>\n

So these two again are contrasting observations which you would like to clarify.<\/p>\n

Angan Guha<\/strong><\/p>\n

Yeah. So Priyank on manufacturing the issue is more about more macroeconomic headwind rather than anything else. So hard to predict. But we are so so many sellers that we are adding a large portion of it is going to be added in the US in the manufacturing domain. On financial services though Q3 at furloughs Q4 had lesser working days and as you know in the BFSI business it is more time and material than anything else. So there is a natural effect. But I am not so worried about bfsi. BFSI will be a strong growth vertical for us going forward.<\/p>\n

We are fixing our life sciences and manufacturing businesses which has been a drag on us and that is where most of our investments are going in.<\/p>\n

Dipesh Mehta<\/strong><\/p>\n

Thank you sir.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. Next question is from the line of Gaurav Nigam from Panga Investments. Please go ahead.<\/p>\n

Dipesh Mehta<\/strong><\/p>\n

Yeah thank you sir for taking my question. I just have one question on the demand environment. Leaving aside the one off client discussion issues and the client trimming that we are undertaking. I wanted to hear your comments on the overall end client spending in the BSSI sector specifically and are we seeing any sustainable uptick in spending in this client segment and any color on what is what would drive that? Because I think in the previous question you mentioned that you are not so concerned about that segment.<\/p>\n

So any color further drill down.<\/p>\n

Angan Guha<\/strong><\/p>\n

Yeah. So Gaurav, I’m sure you know that our BFSI business is more tuned towards, you know, payments, asset management and more, you know, non life, which is the PNC business. On the insurance side, that is what we focus on. We don’t focus on traditional banking. We don’t focus on, you know, a traditional investment banking business. Right. We are very focused on these three segments. Now from a client perspective, the spending is continuing to be stable but the spending is shifting from more traditional businesses to more related work.<\/p>\n

Which is why in my opening commentary we talked about doing a lot of market related work on a PMC insurer in the US we are doing the same not only on the asset management side but even on the payments and the cost side. So I don’t see a spending pattern change per se. The spending remains to be strong. Only the shift of the spending pool is moving from the more traditional side of the businesses to more AI oriented work and we are participating in that and winning our share of the business.<\/p>\n

Dipesh Mehta<\/strong><\/p>\n

Just a quick follow up, sir. So when the shift of pool from one bucket to another, are we seeing any increased pool size or the pool size remains similar across the end client industries within bfsi.<\/p>\n

Angan Guha<\/strong><\/p>\n

So within again, not BFSI but the markets that we serve in the subsectors that we serve, we don’t see an increase in spending. We see the spending to be pretty much even Stevens, only the shift that I spoke about from traditional services to new aid services. That’s our view at this stage.<\/p>\n

Dipesh Mehta<\/strong><\/p>\n

Got it. And if I may ask a second question. So on the productivity deflation part which you mentioned, just wanted to get a sense that when we are seeing this net new PCB wins as well this productivity deflation, how it will characterize in terms of revenue growth, any sense or any color on that would be interesting.<\/p>\n

Angan Guha<\/strong><\/p>\n

Yeah. So Gaurav, as AI is becoming more and more prevalent in our industry and most of the deals that we are discussing with our clients is infused with a lot of AI which means we have to commit and deliver a lot of productivity through our AI tools that we are working with our customers with. Now what happens in an AI Deal is we have to commit to the savings and underlying some of the savings right up front. Which is why you see revenue deflation in the immediate and the medium term. But more and more as we do these deals, Gaurav, you will see the revenue catching up in the future quarters.<\/p>\n

And that is our hope. Which is why, you know, we are pretty confident and investing in people or investing in sellers to drive some of those kind of conversations with our clients.<\/p>\n

Dipesh Mehta<\/strong><\/p>\n

Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. A reminder to all the participants, you may press Star and one to ask a question. Next question is from the line of Girish Bhai from Bob Capital Markets. Please go ahead.<\/p>\n

Dipesh Mehta<\/strong><\/p>\n

Yeah, thanks for the opportunity. And then one of your peers offer similar size said that the competitive intensity has gone up so much that some of the larger players are coming and competing for the smaller orders which it has not seen in the past. So are you seeing something similar happening where because of market, I mean the demand not increasing or remaining stagnant, you’re seeing larger vendors competing with you on smaller deals?<\/p>\n

Angan Guha<\/strong><\/p>\n

Yeah. So that is absolutely happening, Girish, because what happens is in an AI world it is becomes a level playing field for all partners to try and bid for all kind of work because it is more outcome based or nonlinear kind of revenue streams. So we are absolutely seeing larger players also bidding for mid sized deals. But equally also is an opportunity for companies because for the first time I guess there is a level playing field between the larger companies and the smaller companies. So if we invest and get our AI story right, which we are doing and which is why we are making so many investment at every level, we are hoping that we will be able to compete and win our fair share as the AI steam goes ahead.<\/p>\n

Dipesh Mehta<\/strong><\/p>\n

When you talk about are these fixed price deals or are they based on some operational outcomes that you’re talking about or some financial outcomes that you’re discussing with clients?<\/p>\n

Angan Guha<\/strong><\/p>\n

Yeah, so it is operational outcome, not so much financial outcome. And these will be more fixed price deals which would also mean you deliver an outcome to a client and your fees is linked to that outcome, which to me in the medium term is a revenue deflation kind of a situation. But over a longer term it will help us control the work, will help us deliver an outcome and eventually hopefully help us make more money.<\/p>\n

Dipesh Mehta<\/strong><\/p>\n

Is there an upside and a downside to these outcome business? Do you flip out the farm, you get more? Is that the situation?<\/p>\n

Angan Guha<\/strong><\/p>\n

Yes, yes, absolutely that’s the situation. But which also means that if you don’t execute well, could mean that you will not be able to make the kind of money. But if you have a great execution engine and if you deliver well, that can all go very well for the client as well as for ourselves.<\/p>\n

Dipesh Mehta<\/strong><\/p>\n

Okay, thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. Next question is from the line of Pulkit Chawla from 361 Capital. Please go ahead.<\/p>\n

Angan Guha<\/strong><\/p>\n

Hi. Thanks for taking my question. So Amit, my first question is if I refer to your commentary on each of the verticals where you mentioned that life sciences and med tech, the bad news seems to be behind and BFSI really should grow well from year on and the fact that Energy utilities continues to do well, what really stops you from committing to sort of saying that Q1 there should be growth coming up? Is there something that you’re seeing or some client specific issues that you’re still seeing in some of these verticals which really stops you from coming to that.<\/p>\n

And the second question is on the margins part. If I heard correctly, you did<\/p>\n

Dipesh Mehta<\/strong><\/p>\n

Allude to the fact that Q4 margins also did have some one offs. If you could just quantify them and what was the nature of those one offs? Thank you.<\/p>\n

Angan Guha<\/strong><\/p>\n

Yeah. So punkit, first let me answer the first question. The only reason I am holding back on committing anything is because the market is very uncertain and it’s volatile and every quarter I come and say something and there is a market event that happens that disrupts the equation. So our game plan now as a management team is to focus on the input parameters. So investing in sales, driving order book driving pipeline is the first port of call as an organization. Chandru talked about the work that we have done in terms of fixing our margins.<\/p>\n

So now the entire focus is going to be to do what I just said, right? Fixing sales, driving more order book driving more pipeline and the margins will eventually follow. We are confident if we get these three things right, margins will come. But we have to get these three things right now as far as margins is concerned. I will ask Chandru for his comments.<\/p>\n

Chandrasekar Thyagarajan<\/strong><\/p>\n

Sorry, I have a mixed up question.<\/p>\n

Angan Guha<\/strong><\/p>\n

There were one offs in margins in Q2 as well as Q3 and Q4. So will the one offs continue or what is it sustainable?<\/p>\n

Chandrasekar Thyagarajan<\/strong><\/p>\n

So I will be able to quantify them in a moment, but before that one off per definition, we do not expect for them to come back. Right? So we will, we will obviously. So we have not, we have not baked in the one off when we talk about the steady state margins going forward. Right. So there are some one off. You know, I’ll give you some of these items, right. While I may not, you know, be able to give you line by line, you know, line by line data points. But I will give you the total, total impact and some of the items that cost these one off.<\/p>\n

Right. One, we have made lower provisions and you should expect that based on the performance based compensation which you know, which are at a certain level until third quarter. And then in the fourth quarter we did take a reversal of provisions because of the performance. So that’s one. Also there were some leave in cashmere provisions that we make on a quarter and quarter basis given the fourth quarter and where we landed in the fourth quarter, you know, we did afford more leaves than third quarter and as a result of that, the amount of relief needs cash flow provision that we had to take also consequently came down.<\/p>\n

Of course we talked about, of course we talked about the Forex tailwind. In addition, we also had a lower employee equity compensation spend again coming from the fact that we had three exits in the past quarter and that we had called out earlier. So all of this stole, I would say the Forex tailwind gave us 170 basis point benefit and the other items that I talked about gave us another 130, 170 point benefit. So it’s about a 340 point benefit that we got in the fourth quarter. While forex given where it is, I don’t know what will happen the first quarter.<\/p>\n

So we’re not punting on it. The other part of it certainly will not repeat itself in the first quarter and beyond.<\/p>\n

Dipesh Mehta<\/strong><\/p>\n

Got it. Thank you so much.<\/p>\n

Operator<\/strong><\/p>\n

Thank you very much. As there are no further questions, I would now like to hand the conference over to Mr. Angan Guha, CEO NMD Berla soft for closing comments.<\/p>\n

Angan Guha<\/strong><\/p>\n

Thank you. So first of all, I would like to thank all of you once again for joining us on this call today and your insightful questions. I appreciate your interest in Bellasoft. While the demand conditions have been challenging, we have seen an uptick in our deal wins during the second half of the year. We won several marquee AI led engagements and a noticeable expansion in our our operating margin. We continue to generate strong cash flows and have a solid balance sheet. We are investing in our people and our capabilities including significant enhancement of our sales teams.<\/p>\n

This collectively strengthen our confidence as we start the new financial year. I’m looking forward to speaking with you again next quarter. And in the meanwhile please feel free to reach out to Abhinandan for any clarifications or feedback. Thank you once again and good evening everyone.<\/p>\n

Operator<\/strong><\/p>\n

Thank you very much on behalf of Barillasoft Ltd. That concludes this conference. Thank you for joining us. And you may now disconnect your lines. Thank you.<\/p>\n","protected":false},"excerpt":{"rendered":"

Note: This is a preliminary transcript and may contain inaccuracies. It will be updated with a final, fully-reviewed version soon. Birlasoft Limited (NSE: BSOFT) Q4 2026 Earnings Call dated May. 06, 2026 Corporate Participants: Abhinandan Singh \u2014 Head of Investor Relations Angan Guha \u2014 Managing Director, Chief Executive officer & Member of Executive Board Chandrasekar […]<\/p>\n","protected":false},"author":2377,"featured_media":147581,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[6349],"tags":[10169,9175,9104,9092,14492,10089],"class_list":["post-182439","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-transcripts","tag-earnings","tag-earnings-call","tag-earnings-conference","tag-earnings-transcripts","tag-financial-results","tag-quarterly-earnings"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":145507,"url":"https:\/\/alphastreet.com\/india\/earnings-birlasoft-limited-nse-bsoftq4fy23-results-out-total-income-rises-9-yoy\/","url_meta":{"origin":182439,"position":0},"title":"Earnings | Birlasoft Limited (NSE: BSOFT):Q4FY23 Results Out; Total Income rises 9% YoY.","author":"Divyansh_Kasana","date":"May 9, 2023","format":false,"excerpt":"Birlasoft Limited is an Indian multinational company that provides IT services and consulting to clients in various industries, including banking, insurance, healthcare, and retail. 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Presenting below are its Q1 FY26\u2026","rel":"","context":"In "AlphaGraphs"","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"BSOFT Q1 FY26 Earnings Results","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/BSOFT.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/BSOFT.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/BSOFT.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/BSOFT.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/BSOFT.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/BSOFT.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":145388,"url":"https:\/\/alphastreet.com\/india\/alphagraph-birlasoft-limitednse-bsoftq4-fy23-results-outtotal-income-rises-9-yoy\/","url_meta":{"origin":182439,"position":4},"title":"Alphagraph | Birlasoft Limited(NSE: BSOFT)|Q4 FY23 Results Out|Total Income rises 9% YoY.","author":"Divyansh_Kasana","date":"May 8, 2023","format":false,"excerpt":"Birlasoft Limited is an Indian multinational company that provides IT services and consulting to clients in various industries, including banking, insurance, healthcare, and retail. 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Birlasoft reported strong financial results in the quarter ended March 31,\u2026","rel":"","context":"In "Earnings"","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/87f9cf8d-55ef-4818-a353-030e936e0a97.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/87f9cf8d-55ef-4818-a353-030e936e0a97.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/87f9cf8d-55ef-4818-a353-030e936e0a97.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/87f9cf8d-55ef-4818-a353-030e936e0a97.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/87f9cf8d-55ef-4818-a353-030e936e0a97.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/87f9cf8d-55ef-4818-a353-030e936e0a97.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":109778,"url":"https:\/\/alphastreet.com\/india\/infosys-limited-infy-q4-2021-earnings-call\/","url_meta":{"origin":182439,"position":5},"title":"Infosys Limited (INFY) Q4 2021 Earnings Call","author":"Sahil Anand","date":"April 21, 2021","format":false,"excerpt":"Infosys Limited (NYSE: INFY) Q4 2021 earnings call dated\u00a0Apr. 14, 2021 Corporate Participants: Sandeep Mahindroo\u00a0\u2014\u00a0Vice President, Financial Controller & Head \u2013 Investor Relations Salil Parekh\u00a0\u2014\u00a0Chief Executive Officer and Managing Director Pravin Rao\u00a0\u2014\u00a0Chief Operating Officer and Whole-time Director Nilanjan Roy\u00a0\u2014\u00a0Chief Financial Officer Analysts: Ankur Rudra\u00a0\u2014\u00a0JPMorgan \u2014 Analyst Diviya Nagarajan\u00a0\u2014\u00a0UBS \u2014 Analyst\u2026","rel":"","context":"In "Earnings"","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/04\/Infosys-Limited-Q4-2021-Earnings-Call.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/04\/Infosys-Limited-Q4-2021-Earnings-Call.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/04\/Infosys-Limited-Q4-2021-Earnings-Call.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/04\/Infosys-Limited-Q4-2021-Earnings-Call.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/04\/Infosys-Limited-Q4-2021-Earnings-Call.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/04\/Infosys-Limited-Q4-2021-Earnings-Call.png?resize=1400%2C800&ssl=1 4x"},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/182439","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/users\/2377"}],"replies":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/comments?post=182439"}],"version-history":[{"count":1,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/182439\/revisions"}],"predecessor-version":[{"id":182440,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/182439\/revisions\/182440"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media\/147581"}],"wp:attachment":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media?parent=182439"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/categories?post=182439"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/tags?post=182439"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}