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Infosys CEO and Managing Director Vishal Sikka is confident of getting Infosys back on the consistent profitable growth track.
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Sikka is keen to transform Infosys into a next generation services company and is looking to renew all the services the company offers. He has a long-term target to grow at 15-18 percent. The company‘s long-term EBIT margin range is 25-38 percent.
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Infosys has maintained its full year (FY15) dollar revenue guidance at 7-9 percent.
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Software services exporter Infosys has declared a strong set of quarterly earnings today. Catch live updates here.
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Watch the interview of Sandip Agarwal, VP – Wholesale Capital Mkts at Edelweiss Financial Services with Latha Venkatesh & Reema Tendulkar on CNBC-TV18, in which he shared his expectations from the Q2 earnings of Infosys which will be out today.
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Analysts feel Sikka‘s failure to articulate a clear strategy could disappoint as the stock has run up sharply leading up to the results. The stock gained 15 percent since June 12 but year-to-date it underperformed peers - it rose 5 percent while its rivals TCS, Tech Mahindra and HCL Technologies shot up 23-33 percent, and Wipro rose 7 percent.
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Revenues of Infosys are expected to increase by 4 percent Q-o-Q (up 3 percent Y-o-Y) to Rs 13327 crore, according to KR Choksey and Securities.
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Revenues are expected to increase by 3.6 percent Q-o-Q (up 2.1 percent Y-o-Y) to Rs 13236 crore, according to ICICIdirect.
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According to Ashwin Mehta, IT analyst at Nomura India, TCS would continue to trade at a premium over Infosys, and so prefers TCS. His other picks in the IT space are HCL, Cognizant.
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Sagar Rastogi, Associate VP, Ambit Capital is positive on the Indian IT services space sector on back of demand environment and Europe's openness for offshore businesses.
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Sales are expected to increase by 24 percent Y-o-Y to Rs 12966 crore, according to Angel Broking.
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The positive takeaway from the TCS management commentary was that FY15 would see further growth acceleration from FY14 said Hitesh Shah of IDFC Securities.
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Ankita Somani, IT Analyst, Angel Broking does not think TCS has surprised in the positive. Margins as well as dollar revenues came in below expectation.
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Kawaljeet Saluja, executive director, Kotak Institutional Equities, expects IT companies to deliver soft earnings as Q3 is a seasonally weak quarter.
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Srikantan Moorthy, Senior VP & Group Head-Human Resource says on the issue of attrition, while on the last twelve months, or LTM, basis the attrition numbers are higher, on an absolute basis the numbers have come down over the last three quarters.
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Srinivas, who has been recent elevated as the president of India‘s largest IT services exporter, added that the company‘s strong focus is on internal efficiencies and is trying to leverage efficiency factors to increase margins.
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Nilesh Shah of Envision Capital feels that the stock could be in a consolidation zone and the recent highs itself will actually act as a significant resistance.
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Though Ambit has upgraded Infosys‘s EPS estimates, it remains ‘sell‘ on the stock as it doesn't see the company to be a growth leader. There has been top level attrition in Infosys of late.
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Infosys management provides an insight into the company's third-quarter earnings, reasons behind the profit growth and its strategy ahead.
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SD Shibulal, CEO, Infosys said the next fiscal is going to be an "exciting" one as client confidence is seen returning.
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Infosys' profitability however, was impacted by visa cost of Rs 219 crore (one off item) in the quarter ended September 2013.
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Nilesh Shah, Envision Capital says Infy might be one of the few companies with capacity utilization of less than 80 percent, but if it crossed 80 percent then it could lead to margin expansion.
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According to Sushil Finance, revenues of Infosys are expected to increase by 2.5 percent Q-o-Q to Rs 13282.9 crore
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Analysts will keenly eye the full year dollar revenue guidance (FY14), which if disappoints, could result in a knee-jerk reaction for the stock. According to Hitesh Shah, IT analyst of IDFC Securities, the street expects 11.5-12 percent revenue growth guidance for the full year.
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Analysts believe the full year dollar revenue guidance (FY14) is the key to watch out for. According to them, if the company does not increase the guidance then the stock may see knee-jerk reaction.
