Tag: #DataCentre

PERSISTENT – Q3 FY26 Earnings Call – 20-Jan-26

PERSISTENT sustains 15–20% growth with BFSI, healthcare, and AI as drivers. Margins stay range-bound at 14–16% amid structural pressures, while AI monetization and disciplined cash flow management shape profitability.

1–2 minutes

3-Scenario Framework

📊 Base Case (50% Probability)

Key Variables: Steady macro (NA/EU tech spend +3–5%) + AI tool adoption scales linearly (50–75 bps annual margin tailwind).

  • Revenue grows 15–17% YoY, driven by BFSI/Healthcare modernization and hi-tech product development. Top 100 clients expand at 18–20% YoY.
  • EBIT margin stabilizes at 14–15%, with labour code impact offset by AI productivity gains. Operating cash flow recovers to 95–100% of PAT as DSO normalizes to 55 days.
  • EPS rises to ₹30–32, supporting dividend hikes (₹24–26/share) and selective M&A for AI/data capabilities.
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NETWEB – Q3 FY26 Earnings Call – 19-Jan-26

NETWEB’s topline likely to sustain 30–40% CAGR on AI/HPC tailwinds, but lumpiness in strategic orders and ASIC disruption risks could compress margins (9–12% PAT range) and cash flow visibility; modeling should prioritize annualized trends over quarterly volatility.

1–2 minutes

3-Scenario Framework

📊 Base Case (50% Probability)

  • Key Variables: (1) AI mission executes as planned (₹17B strategic orders over 3 years); (2) ASICs remain niche (<10% of AI market).
  • Outcome: 30–40% organic CAGR sustained; AI systems contribute 50–60% of revenue. Margins stabilize at 9–10% PAT (13–14% ex-strategic). PLI approvals add 100–150 bps to EBITDA. Implication: ₹20B+ topline by FY28; 15–20% EPS CAGR.
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POLYCAB – Q3 FY26 Earnings Call – 16-Jan-26

POLYCAB’s Topline: 30–40% YoY revenue growth in FY26, led by domestic W&C (structural) and FMEG (cyclical); bottomline: 35–45% PAT growth if commodity lag resolves; margins: 12–14% EBITDA achievable by FY27, but hinges on copper trajectory and export recovery.

1–2 minutes

3-Scenario Framework

📊 Base Case (50% Probability)

Copper stabilizes (±5% QoQ), pass-through completes by Q1 FY27. W&C volume grows 20% YoY (vs. 40% Q3), with 100bps margin recovery. FMEG EBITDA hits 7%. Outcome: FY26 revenue +35% YoY, EBITDA margin 13%. Valuation: Multiple holds at 23–25x PE.

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SIEMENS – Q3 FY26 Earnings Call – 12-Dec-25

SIEMENS’ topline hinges on private CapEx revival (DI) and Mobility project execution, while bottomline depends on SI localization and Mobility service margins; margins structurally capped by DI’s transfer pricing but leveraged to SI’s 65%+ localization and Mobility’s POC accretion.

1–2 minutes

3-Scenario Framework

📊 Base Case (50% Probability)

  • Private CapEx recovers: Consumption uptick by Apr–Jun 2026 drives DI revenue +7% CAGR; SI maintains 10%+ growth on Discom upgrades.
  • Mobility delivers: Loco ramp-up and Kavach wins lift segment revenue 12% CAGR; margins expand to 9% by FY28.
  • Outcome: Topline +9% CAGR, EBIT margins 11–12%, FCF normalizes to 30% of EBITDA by FY27.
Continue reading “SIEMENS – Q3 FY26 Earnings Call – 12-Dec-25”