The Head of Tech Mahindra IES Becomes COO at Cyient

The Head of Tech Mahindra IES Becomes COO at Cyient

Karthik Natarajan, the former head of Tech Mahindra’s Integrated Engineering Services (IES), has joined Cyient as COO. We think, the appointment of Mr. Natarajan is a welcome move for Cyient, which has faced growth challenges in the past quarters, resulting from its client concentration and its exposure to Boeing and Pratt & Whitney.

LTTS Unexpectedly Slows Down in Q3 FY20

LTTS Unexpectedly Slows Down in Q3 FY20

LLTS’ revenue growth in Q3 FY20 decelerated from 11.9% at CC in Q2 to +7.5% in Q3. The company was hit by a deteriorating situation in its Telecom & High-Tech (-26%), which was impacted by the ramp-down of two clients in its Semiconductor sub-vertical that represents (we estimate) 40% of its Telecom & High-Tech sector. LTTS, also, had flat growth (+2%) in its Industrial Products, with large accounts reducing their spend.

KPIT Had A Solid Q2. Strategic Questions Remain

KPIT Had A Solid Q2. Strategic Questions Remain

Automotive engineering pure-play KPIT continued on its growth momentum in Q2 FY20 (+15.2% yoy), enjoying a satisfactory EBITDA margin of 13.4%. KPIT’s financial performance was, however, a notch below that of Q1 both in terms of revenue growth (Q1: +19.3%) and margin (14.6%).

Cognizant to acquire Zenith Technologies and strengthens its MES capabilities for the life science industry

Cognizant to acquire Zenith Technologies and strengthens its MES capabilities for the life science industry

Cognizant has been making more headlines in ER&D services, recently. Last month, we had mentioned its software product engineering services (PES) contract with PLM vendor AVEVA. This week, we are looking into Cognizant’s planned acquisition of Zenith Technologies. Zenith

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HCL ERS returns to Earth in Q4 FY19

HCL ERS returns to Earth in Q4 FY19

HCL Tech’s ERS unit posted an excellent growth of +12.1% yoy at CC. The growth positioned ERS as the second fastest ER&D services vendor (among top ten vendors) behind Alten, ahead of Altran. ERS’s growth is, however, slowing from its peak of +47.7% at CC in Q3 FY18.

KPIT’s first results since its IPO

KPIT’s first results since its IPO

KPIT published its first results since its IPO, as India’s third-largest ER&D services pure-play. Growth slowed down significantly in Q4 FY19, revenues up 13.4% yoy to USD 71m. The company’s EBITDA margin was 12.8%.

KPIT reborn!

KPIT reborn!

KPIT quietly finalized its merger with the privately-owned Birlasoft. The new company is now called Birlasoft and will be an IT service pure-play. Birlasoft has carved out its automotive engineering business that will be called KPIT.