| Quarter | Call date | Disclosure | Financial quality | Kept | Missed | |
|---|---|---|---|---|---|---|
| Q1'27 | July 23, 2026 | 9/12 | 2 high, 3 medium, 2 low flags | 2 | 0 | Call sheet → |
| Q4'26 | April 23, 2026 | 3/12 | 3 high, 4 medium, 2 low flags | 3 | 1 | Call sheet → |
| Q3'26 | January 14, 2026 | 5/12 | 3 medium, 3 low flags | 3 | 1 | Call sheet → |
| Q2'26 | October 16, 2025 | 3/12 | 3 high, 3 medium, 2 low flags | 2 | 0 | Call sheet → |
| Q1'26 | 2025-07-23 | 5/12 | 1 high, 4 medium, 3 low flags | 2 | 0 | Call sheet → |
| Q4'25 | 2025-04-17 | 5/12 | 2 high, 4 medium, 2 low flags | 6 | 0 | Call sheet → |
| Q3'25 | January 16, 2025 | 4/12 | 3 high, 3 medium, 2 low flags | 2 | 1 | Call sheet → |
| Q2'25 | October 17, 2024 | 5/12 | 2 high, 4 medium, 3 low flags | 2 | 1 | Call sheet → |
| Q1'25 | July 18, 2024 | 6/12 | 3 medium, 3 low flags | 4 | 0 | Call sheet → |
| Marked | Status | Promise |
|---|---|---|
| Q1'27 | Pending | JV with Australian client pending regulatory approvals, not baked into guidance Not mentioned at all this quarter; actual status not stated on the call. |
| Q1'27 | Pending | At least 20,000 freshers to be hired in FY27 Full year not ended; Q1 progress of over 4,000 recruited is consistent with pace but not confirmatory of the full-year number. |
| Q1'27 | Delivered | Wage hike quantum/timing undecided, 'once we decide, we will let you know' Decision communicated this quarter: hikes effective October for most employees, January for the remainder. |
| Q1'27 | Delivered | Optimum Healthcare acquisition pending regulatory approval, not yet in guidance Now closed and explicitly contributing to the FY27 guidance alongside Stratus. |
| Q1'27 | Pending | FY27 operating margin guidance of 20%-22% Reaffirmed unchanged this quarter; Q1 actual of 21.1% sits comfortably within range. |
| Q1'27 | Pending | FY27 revenue growth guidance of 1.5%-3.5% CC FY27 is ongoing; management revised the range down to 1.5%-3% this quarter, a guidance cut/revision, not a miss, given the full-year window remains open. |
| Q4'26 | Pending | Expansion in Japan and newer geographies Mentioned 'doing quite well' but no metrics provided |
| Q4'26 | Pending | Continued investment in AI capabilities Claimed investments made but no specific numbers provided |
| Q4'26 | Delivered | Share comprehensive AI strategy at investor day Held AI Investor Day with 6-area framework |
| Q4'26 | Missed | Versent acquisition to close by FY26 end Still pending regulatory approval, pushed to FY27 |
| Q4'26 | Delivered | Margin guidance of 20-22% for FY26 Achieved 21% for full year |
| Q4'26 | Delivered | Will hire 20,000 freshers in FY26 Actually exceeded with over 20,000 hired |
| Q3'26 | Pending | Work with clients without H-1B disruption Claims no service disruption but one employee was denied entry to US |
| Q3'26 | Delivered | Continue with acquisition pipeline in strategic areas No new acquisitions announced but confirmed active pipeline discussions |
| Q3'26 | Delivered | 20-22% operating margin guidance for FY26 At 21% adjusted margin for 9 months, tracking to midpoint |
| Q3'26 | Pending | Versent acquisition to close in coming months Still awaiting regulatory approval, no timeline update provided |
| Q3'26 | Missed | Will share AI revenue metrics 'as the right time comes' Still refusing to quantify despite peer disclosures and analyst pressure |
| Q3'26 | Delivered | 15,000 to 20,000 fresher hiring for FY26 Already at 18,000 with commitment to hit 20,000 by year end |
| Q2'26 | Pending | Scale AI capabilities and partnerships Claims 300 agents built but zero revenue attribution |
| Q2'26 | Pending | Work with clients without H-1B disruption Claimed reaching out to clients but no specifics on mitigation strategy |
| Q2'26 | Delivered | Project Maximus to continue delivering margin benefits 30 bps delivered but offset by operational headwinds |
| Q2'26 | Delivered | Continue investing in Europe market But Europe growth metrics conspicuously absent this quarter |
| Q2'26 | Pending | Free cash flows above 100% of net profit for FY26 No FCF number provided for Q2, concerning omission |
| Q2'26 | Pending | 15,000-20,000 fresher hiring for FY26 12,000 hired in H1, on track for upper end of range |
| Q1'26 | Pending | We expect stronger H1 compared to H2 on account of normal seasonality Q1 strong at 2.6% sequential, sets high bar for Q2 |
| Q1'26 | Pending | Leadership in enterprise AI Gartner recognition achieved but revenue impact still unclear |
| Q1'26 | Exceeded | Continue success in clients selecting us for consolidation $1B+ in consolidation deals in Q1 alone |
| Q1'26 | Delivered | Execute plans with agility while keeping close watch on events Demonstrated by quick guidance revision, though conservative |
| Q1'26 | Pending | Margin guidance for FY26: 20% to 22% Q1 at 20.8%, already near bottom of range despite strong revenue growth |
| Q1'26 | Pending | Guidance for FY26: 0% to 3% growth in constant currency Revised to 1% to 3% after Q1, technically an improvement but concerning they're adjusting so early |
| Q4'25 | Exceeded | See benefits from Europe investments Europe grew 15% YoY, 3x company rate |
| Q4'25 | Delivered | Maintain stable pricing environment Confirmed stable pricing, no major deterioration |
| Q4'25 | Exceeded | Generate strong free cash flow $4.1B generated, 129% of net profit, highest ever |
| Q4'25 | Delivered | Improve margins through Project Maximus Delivered 50 bps improvement to 21.1% despite headwinds |
| Q4'25 | Delivered | Continue momentum in Financial Services FS grew 12.6% YoY in Q4, maintaining double-digit growth |
| Q4'25 | Delivered | Hiring 15,000 freshers in FY25 Met target with 15,000 hired as committed |
| Q3'25 | Delivered | Compensation increase in two phases, January and April Confirmed timeline as promised, though magnitude only disclosed this quarter |
| Q3'25 | Pending | We expect retail positivity to start reflecting in volumes in next one or two quarters Called out improved holiday sales but no volume confirmation yet |
| Q3'25 | Pending | Operating margin guidance 20% to 22% Maintained at 20-22% despite Q3 at 21.3%, suggesting Q4 margin pressure expected |
| Q3'25 | Delivered | FY25 revenue guidance 3.75% to 4.5% constant currency Raised to 4.5% to 5%, third consecutive quarterly guidance raise |
| Q3'25 | Pending | We are on track to onboard 15,000 to 20,000 freshers in FY25 Confirmed on track for 15,000+ but lowered to bottom of range from original 20,000 target |
| Q3'25 | Missed | Pipeline for deals less than $50 million increased double digits, should start showing up results in Q4 onwards Q3 small deal pipeline only described as 'stable,' no mention of Q2's double-digit growth converting to revenue |
| Q2'25 | Delivered | Compensation review timing decision pending Announced January/April split, later than normal cycle |
| Q2'25 | Pending | In-tech acquisition to be margin accretive 30 bps margin hit from acquisition, claiming future synergies |
| Q2'25 | Delivered | Financial services momentum to continue FS grew but decelerated from 7.9% to 2.0% QoQ |
| Q2'25 | Missed | Project Maximus to drive margin improvement Margins flat despite Maximus benefits, all gains eaten by variable pay |
| Q2'25 | Pending | Onboard 15,000 to 20,000 freshers in FY25 Only added 2,500 in Q2, needs massive H2 acceleration |
| Q2'25 | Pending | H1 going to be stronger than H2 Still maintaining this but guidance implies almost zero H2 growth |
| Q1'25 | Pending | Medium-term margin expansion Still maintaining this but no timeline given |
| Q1'25 | Pending | Normal seasonality with H1 stronger than H2 Reiterated this pattern for FY25 |
| Q1'25 | Delivered | Project Maximus to deliver margin improvements 80bps contribution in Q1, consistent delivery |
| Q1'25 | Delivered | Mega deals signed in Q3/Q4 to ramp in Q4/Q1 Confirmed mega deals started ramping as planned |
| Q1'25 | Delivered | Operating margin guidance 20-22% for FY24 20.7% was within range but below midpoint |
| Q1'25 | Delivered | FY24 guidance of 1-3% growth Came in at lower end with 1.4% excluding one-timer |
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