Cognizant Q1 Review - Raises Talent, Covid Alarm; Growth Much Weaker Than Indian Peers: Nirmal Bang
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Nirmal Bang Report
Post Q1 CY21 results – along guided lines, Cognizant Technology Solutions Ltd. raised its organic constant currency revenue growth guidance for CY21 from 1%-4%, indicated three months back, to 2.5% 4.5%.
This growth is significantly lower than the double digit number (organic constant currency) indicated by almost all of its large India heritage peers for FY22.
For the first time in the industry, we heard the company saying business was foregone (a few 100 basis points) because of talent issues.
War for digital talent become visible in recent times on:
Rising attrition levels in select companies.
Indications of second round of salary hikes within three to six months of the last hikes.
Higher than historical salary hikes, etc.
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