Segmental performance
Few additional points (H1 23 vs FY 22)
- Trust Svc FY 22 was 84.5 cr – Q1 was 19, H1 23 is 41 – Q2 is 22 – mgmt did indicate Q1 is leaner and gains as as year progresses
- Enterprise India FY 22 was 63 cr, H1 23 is 31 cr
- Enterprise global FY 22 was 35 cr, H1 23 is 38 Cr
Net net growth driver has been Enterprise global which has nearly done last year whole in H1 this year, also note this is relatively higher margin than Enterprise India biz.
While growth in global enterprise biz is commendable by nearly 2X in current circumstances, it would be useful to understand how pipeline is looking and deal size etc. Would be keen to understand India (Trust + Enterprise) growth expectations as H1 is more or less flattish/mild growth – given rich valuations, its imp to have both engines firing well(India and global) for future.
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