The Rs 10.5 lakh crore Indian information technology (IT) services sector's revenues registered a growth in the high teens in the past two fiscals, benefitting from demand for digitalization, data analytics and other new-age technologies post-pandemic, and depreciation of the rupee against major currencies.
This year, macroeconomic concerns in the US and the EU, the two biggest markets, may stall growth of the export-dependent sector, especially in the banking and financial services (BFSI) and retail verticals.
Supply side worries and rising employee costs - with the full-year impact of extraordinary advance hiring in fiscal 2022 to tackle high attrition kicking in - pulled down operating margin to a decadal low of ~22% last fiscal.
While supply challenges seem to have eased, how are IT service companies poised to withstand the global slowdown? What will be impact on credit profiles?
For answers and more, CRISIL Ratings is organising a webinar on June 20, 2023 (Tuesday) from 3 pm, where our experts will present their views on:
Growth prospects for Indian IT services companies
Key revenue drivers in end-use verticals
Trends in operating profitability
Credit outlook on the sector
The presentation will be followed by a panel discussion with industry experts and a Q&A session.
Disclaimer: This event and its content are intellectual property and confidential information of CRISIL. Any use of the same without written permission of CRISIL is illegal and hence punishable. Recording the webinar in any form in full or part or copying, altering, distributing or streaming the webinar is strictly prohibited and violation will attract legal action.
