Research Reports

On Track to $2B: Margins Expand, Nagarro Backdrop

digital engineering · revenue growth · margin expansion

Digitide Q1: group profit down 70% YoY, shareholders in loss as margins compress

it services · bpm · margin compression

Execution on AI Deals, Margin Recovery Under Watch

Hexaware · IT services · margins

Fractal Q1: consolidated PAT +92% YoY to ₹72 Cr, revenue +20%; margins widen, TMT lags

ai analytics · it services · revenue growth

Q1 FY27 Earnings: Where Growth Met Margin Pressure

Q1 FY27 · earnings · margin compression

FCS Software Q1: consolidated PAT climbs to ₹0.63 Cr on 83% revenue surge led by non-IT arms

it services · microcap · revenue growth

MosChip Q1: consolidated PAT slumps 78% YoY to ₹2.4 Cr as costs bite, product arm slips to loss

semiconductor design · product engineering · margin compression

Ramco Q1: consolidated PAT slips to ₹0.56 Cr, down 48% YoY as margins compress

it services · erp software · margin compression

Control Print Q1: consolidated PAT slumps 54% YoY to ₹3.9 Cr as overseas losses bite

coding and marking · margin compression · overseas subsidiary losses

Execution on AI partnerships tested against margin headwinds

Infosys · IT services · AI partnerships

OFSS Q1: consolidated PAT doubles to ₹1,416 Cr, but a ₹935 Cr one-off license deal drives it

banking software · product licenses · one-off deal

Paras Defence's ₹6,200 Crore Semiconductor Wager—When Defence Pivots to Chip Packaging

semiconductors · OSAT · IC packaging

HFCL's Record Results Mask an AI-Ready Expansion—₹215 Cr Data Centre Bet Signals Pivot

data centre · capex · optical fibre

Margin Expansion: Guided Growth Meets Valuation Reality

TATATECH · Q1 FY27 · margin expansion

Aurum PropTech Q1: operating turnaround, but ₹45 Cr net profit is a one-off gain

Engineering at Scale — Tata Technologies' Tenneco Play Signals AI's Ascent in Automotive Design

engineering services · automotive OEM · AI-led design

Nelco Q1 consol PAT Rs 2.34 Cr up on one-off; underlying profit slips ~14% YoY

Tech Mahindra Q1: revenue +17.7%, EBIT +53% YoY; consol PAT ₹1,465 Cr up 28% but trails street

Smart Money's Bet — Newgen's SaaS Sprint Attracts Institutional Repositioning

SaaS · margin-expansion · institutional-positioning

Aurum PropTech's Housing.com Play: Building India's AI-Native Real Estate OS

M&A · Real Estate · Housing.com

Newgen Q1: consolidated PAT +26% YoY to ₹62.8 Cr on margin expansion, US-led growth

The ED's Cross-Company Enforcement: The Vikas Garg Pattern

ED enforcement · PMLA · regulatory risk

Ksolves Q1: consolidated PAT +43% YoY to ₹9.2 Cr on margin gains; revenue growth soft

LTTS + Anthropic: Claude's Re-entry Into Engineering Workflows

AI · Claude · Engineering Intelligence

The Strong Start: Five-Sector Beat on Q1 FY27 Earnings

Q1 FY27 · earnings · profit growth

HCLTech: From Services to Infrastructure — The ₹3,500 Crore AI Bet

AI infrastructure · data centers · capex

HCLTech Q1: consolidated PAT ₹4,626 Cr up 20% YoY beats Street, margins hold firm