Latest news with #Nagarro
Time of India
2 days ago
- Business
- Time of India
In 5 years, 10 mid-tier IT companies join $1 billion club
BENGALURU: Call it the mid-tier IT firm's breakout moment. Over the past decade, 15 companies crossed the $1 billion revenue mark—10 of them in just the last five years, with several more on the cusp. This marks a structural shift in the mid-tier segment, packing a bigger punch. Take Coforge, for instance. It aims to achieve a revenue milestone of $2 billion by fiscal 2027. The company surpassed $1 billion in revenue during the financial year 2022-23, demonstrating a year-on-year growth of 22.4% in constant currency terms. Digital engineering company Nagarro's revenue crossed $1 billion in the 2023 financial year, up from $908 million in the corresponding period last year. Nagarro follows a January to December financial year. The company recorded a growth of 9.4% in constant currency in 2023. Of Nagarro's 18,000 employees, 12,000 are based in India across 12 cities. While these companies were growth-ready, former Cognizant India CMD Ramkumar Ramamoorthy, in a LinkedIn post, said three powerful forces have redefined their trajectory. Seasoned leaders from tier-1 firms brought strategic clarity, global perspective, and execution muscle—sharpening the edge of mid-tier companies. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 在萬寧買了「這個」的42歳女性。超有效好驚人！臉激變！ 了解更多 Undo Private equity as a growth engine and an imbibed long-term value mindset accelerated transformation and scaling ambitions. Mid-tier players rapidly built and scaled advanced digital capabilities—closely aligned with evolving client expectations. Ramamoorthy said, 'One of the best things that happened to Indian IT after Y2K is senior management attrition. Seasoned leaders who built and ran large portfolios in IT companies such as Cognizant, Infosys, and HCL took on CXO roles in mid-sized firms and built the much-needed muscles to gracefully scale these companies. With more such leaders being made available today, in the years to come, we should see a larger number of companies get past the magical $1 billion in revenue, ably compete with Tier-1 players, and catalyse growth. ' He is also a partner in tech growth advisory firm Catalincs. In the last four months, nearly a dozen mid-sized firms saw top deck changes. LTIMindtree welcomed Venu Lambu as their new chief executive, while Virtusa brought in Nitin Banga from Global Logic to lead as their CEO. Rohit Kedia, who brings 28 years of experience in technology and digital engineering, was appointed CEO at ChrysCapital-owned digital engineering company Xoriant. He previously served as chief growth officer at LTIMindtree. Engineering services firm Cyient appointed Sukamal Banerjee as CEO of its DET (digital, engineering and technology) business. 'Also, with dozens of PE firms making a beeline for the IT industry, the investee companies are a big draw for these leaders not only for CXO roles but also for Board positions. These firms bring in global best practices across all aspects of business—people, process, platforms, partnerships, among others—which also helps fast-track the journey to a billion dollars and more.' Peter Bendor-Samuel, founder and chairman of US-based IT advisory Everest Group, said, 'However, perhaps the most important factor has been the PE firm's ability to change the mindset of these firms and attract some of the industry's most capable executives to run them. The combination of first-rate executives, acquisitions, and focused investments in sales and marketing has proven a sure-fire recipe to drive highly profitable and fast growth. ' These shifts have repositioned mid-tier companies as credible contenders, not just fast followers—rewriting what growth looks like in the industry's next chapter. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
3 days ago
- Business
- Time of India
10 mid-tier IT companies join $1 billion club in last 5 years
Bengaluru: Call it the mid-tier IT firm's breakout moment. Over the past decade, 15 companies crossed the $1 billion revenue mark—10 of them in just the last five years, with several more on the cusp. This marks a structural shift in the mid-tier segment, packing a bigger punch. Take Coforge, for instance. It aims to achieve a revenue milestone of $2 billion by fiscal 2027. The company surpassed $1 billion in revenue during the financial year 2022-23, demonstrating a year-on-year growth of 22.4% in constant currency terms. Digital engineering company Nagarro's revenue crossed $1 billion in the 2023 financial year, up from $908 million in the corresponding period last year. Nagarro follows a January to December financial year. The company recorded a growth of 9.4% in constant currency in 2023. Of Nagarro's 18,000 employees, 12,000 are based in India across 12 cities. While these companies were growth-ready, former Cognizant India CMD Ramkumar Ramamoorthy, in a LinkedIn post, said three powerful forces have redefined their trajectory. Seasoned leaders from tier-1 firms brought strategic clarity, global perspective, and execution muscle—sharpening the edge of mid-tier companies. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch vàng CFDs với mức chênh lệch giá thấp nhất IC Markets Đăng ký Undo Private equity as a growth engine and an imbibed long-term value mindset accelerated transformation and scaling ambitions. Mid-tier players rapidly built and scaled advanced digital capabilities—closely aligned with evolving client expectations. Ramamoorthy said, "One of the best things that happened to Indian IT after Y2K is senior management attrition. Seasoned leaders who built and ran large portfolios in IT companies such as Cognizant, Infosys, and HCL took on CXO roles in mid-sized firms and built the much-needed muscles to gracefully scale these companies. With more such leaders being made available today, in the years to come, we should see a larger number of companies get past the magical $1 billion in revenue, ably compete with Tier-1 players, and catalyse growth. " He is also a partner in tech growth advisory firm Catalincs. In the last four months, nearly a dozen mid-sized firms saw top deck changes. LTIMindtree welcomed Venu Lambu as their new chief executive, while Virtusa brought in Nitin Banga from Global Logic to lead as their CEO. Rohit Kedia, who brings 28 years of experience in technology and digital engineering, was appointed CEO at ChrysCapital-owned digital engineering company Xoriant. He previously served as chief growth officer at LTIMindtree. Engineering services firm Cyient appointed Sukamal Banerjee as CEO of its DET (digital, engineering and technology) business. "Also, with dozens of PE firms making a beeline for the IT industry, the investee companies are a big draw for these leaders not only for CXO roles but also for Board positions. These firms bring in global best practices across all aspects of business—people, process, platforms, partnerships, among others—which also helps fast-track the journey to a billion dollars and more." Peter Bendor-Samuel, founder and chairman of US-based IT advisory Everest Group, said, "However, perhaps the most important factor has been the PE firm's ability to change the mindset of these firms and attract some of the industry's most capable executives to run them. The combination of first-rate executives, acquisitions, and focused investments in sales and marketing has proven a sure-fire recipe to drive highly profitable and fast growth. " These shifts have repositioned mid-tier companies as credible contenders, not just fast followers—rewriting what growth looks like in the industry's next chapter.
Yahoo
23-05-2025
- Business
- Yahoo
Investors Can Find Comfort In Nagarro's (ETR:NA9) Earnings Quality
Investors were disappointed with the weak earnings posted by Nagarro SE (ETR:NA9 ). While the headline numbers were soft, we believe that investors might be missing some encouraging factors. We've discovered 1 warning sign about Nagarro. View them for free. Many investors haven't heard of the accrual ratio from cashflow, but it is actually a useful measure of how well a company's profit is backed up by free cash flow (FCF) during a given period. In plain english, this ratio subtracts FCF from net profit, and divides that number by the company's average operating assets over that period. This ratio tells us how much of a company's profit is not backed by free cashflow. As a result, a negative accrual ratio is a positive for the company, and a positive accrual ratio is a negative. While it's not a problem to have a positive accrual ratio, indicating a certain level of non-cash profits, a high accrual ratio is arguably a bad thing, because it indicates paper profits are not matched by cash flow. Notably, there is some academic evidence that suggests that a high accrual ratio is a bad sign for near-term profits, generally speaking. For the year to March 2025, Nagarro had an accrual ratio of -0.11. That implies it has good cash conversion, and implies that its free cash flow solidly exceeded its profit last year. To wit, it produced free cash flow of €82m during the period, dwarfing its reported profit of €43.8m. Nagarro's year-on-year free cash flow was as flat as two-day-old fizzy drink. However, that's not all there is to consider. We can see that unusual items have impacted its statutory profit, and therefore the accrual ratio. Check out our latest analysis for Nagarro That might leave you wondering what analysts are forecasting in terms of future profitability. Luckily, you can click here to see an interactive graph depicting future profitability, based on their estimates. Nagarro's profit was reduced by unusual items worth €11m in the last twelve months, and this helped it produce high cash conversion, as reflected by its unusual items. In a scenario where those unusual items included non-cash charges, we'd expect to see a strong accrual ratio, which is exactly what has happened in this case. It's never great to see unusual items costing the company profits, but on the upside, things might improve sooner rather than later. When we analysed the vast majority of listed companies worldwide, we found that significant unusual items are often not repeated. And, after all, that's exactly what the accounting terminology implies. Assuming those unusual expenses don't come up again, we'd therefore expect Nagarro to produce a higher profit next year, all else being equal. In conclusion, both Nagarro's accrual ratio and its unusual items suggest that its statutory earnings are probably reasonably conservative. Looking at all these factors, we'd say that Nagarro's underlying earnings power is at least as good as the statutory numbers would make it seem. Keep in mind, when it comes to analysing a stock it's worth noting the risks involved. Every company has risks, and we've spotted 1 warning sign for Nagarro you should know about. Our examination of Nagarro has focussed on certain factors that can make its earnings look better than they are. And it has passed with flying colours. But there are plenty of other ways to inform your opinion of a company. Some people consider a high return on equity to be a good sign of a quality business. So you may wish to see this free collection of companies boasting high return on equity, or this list of stocks with high insider ownership. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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Business Standard
21-05-2025
- Business
- Business Standard
Nagarro leases 700,000 sq ft of office space in Gurgaon for GCC operations
Nagarro Enterprise Services, a German information technology (IT) services firm, has leased 706,000 square feet of office space in Gurugram for its Global Capability Centre (GCC) operations. The office, with a seating capacity of around 3,000 people, will serve as a collaborative workspace for Nagarro's employees across India, especially in the Delhi National Capital Region (NCR), according to sources familiar with the deal. The company will pay a monthly rent of ₹2.9 crore, as per lease documents sourced by Propstack, a real estate data analytics firm. The rent will escalate by 12 per cent every three years during the lease term. The office space has been leased from Chimera Developers LLP, a Delhi-based real estate firm active in commercial leasing. Nagarro had committed to the lease back in 2018, when the building was still under construction. In addition to the office area, the company will gain access to multilevel parking facilities. The space is located in Sector 18, Gurugram, where the average rental rate stands at around ₹63 per square foot per month, according to Propstack. Nagarro's footprint and GCC leasing trends Nagarro operates approximately 12 'hives' in tier-2 Indian cities and maintains offices in 38 countries, employing around 18,000 people globally. Meanwhile, office leasing by GCCs in India has been on an upward trajectory. According to real estate consultancy Anarock, GCCs leased 8.35 million square feet (msf) of gross office space in Q1 CY25 across the top seven Indian cities. Of this, Delhi NCR accounted for 23 per cent, witnessing 1.91 msf of GCC leasing during the period.
Yahoo
15-05-2025
- Business
- Yahoo
Nagarro releases audited FY 2024 and unaudited Q1 2025 results, confirms existing guidance for 2025
MUNICH, May 15, 2025 /CNW/ -- Nagarro, a global digital engineering leader, today announced its audited financial numbers for its full year ended December 31, 2024, and its unaudited financial numbers for the three months ended March 31, 2025. The Management Board and the Supervisory Board will propose to the Annual General Meeting a dividend of €1 per share. Manas Human, Co-founder, said, "We are pleased to announce our robust results and confirm that we remain confident in our existing guidance for 2025. We have several growth and maturity initiatives now in motion, and we are excited about their potential to lift our trajectory in the months to come." 2024 results Revenue grew to €972.0 million in 2024, up from €912.1 million in 2023, a YoY growth of 6.6%. The constant currency growth in annual revenue was 7.2%. Gross profit grew to €295.8 million (as per the current method) and €253.9 million (as per the previous method) in 2024 from €235.7 million (as per the previous method) in 2023. As per the previous method, gross margin was 26.1% in 2024 compared to 25.8% in 2023. Adjusted EBITDA grew to €147.5 million in 2024 from €126.1 million in 2023. Adjusted EBITDA margin grew to 15.2% in 2024, up from 13.8% in 2023. EBITDA grew to €134.1 million in 2024 from €118.6 million in 2023. EBIT grew to €96.7 million in 2024 from €83.2 million in 2023. Net profit remained at €49.2 million in 2024, as in 2023. The number of clients doing more than €1 million in annual revenue with Nagarro rose from 181 in 2023 to 186 in 2024. Operating cash flow grew to €86.5 million in 2024 from €79.7 million in 2023. Factoring utilization under the non-recourse factoring program was reduced by €3.5 million in 2024. Days of sales outstanding, calculated based on the quarterly revenue and including both contract assets and trade receivables, increased from 84 days on December 31, 2023, to 88 days on December 31, 2024. Nagarro's cash balance at the end of 2024 was €192.6 million as against €110.1 million at the end of 2023. Nagarro's loans and borrowings at the end of 2024 were €329.6 million as against €274.7 million at the end of 2023. The company reported 17,695 professionals as of December 31, 2024. The Management Board and Supervisory Board will, for the first time, propose to the Annual General Meeting the distribution of a dividend of €1.00 per share. The proposed dividend marks an important milestone and underlines the company's long-term value creation strategy. As part of its commitment to strong corporate governance, the company will propose to the Annual General Meeting to expand the Supervisory Board. The newly proposed candidates - Martin Enderle, Hans-Paul Bürkner, and Jack Clemons - bring deep expertise in digital transformation, platform scaling, professional services, and finance and accounting. The company will also propose to reinstate Carl Georg Dürschmidt as a board member. Q1 2025 results Revenue grew to €246.9 million in 3M 2025, against €238.3 million in 3M 2024, a YoY growth of 3.6%. Gross profit was €75.5 million in 3M 2025, against €73.6 million in 3M 2024. Gross margin was 30.6% in 3M 2025, against 30.9% in 3M 2024. Adjusted EBITDA was €30.2 million in 3M 2025, against €39.2 million in 3M 2024. EBITDA was €33.0 million in 3M 2025, against €36.0 million in 3M 2024. EBIT was €24.1 million in 3M 2025, against €26.6 million in 3M 2024. Net profit was €11.2 million in 3M 2025, against €16.6 million in 3M 2024. The number of clients doing more than €1 million in annual revenue in the last 12 months with Nagarro rose from 181 on March 31, 2024, to 186 on March 31, 2025. Operating cash flow grew to €29.8 million in 3M 2025, against €25.9 million in 3M 2024. Factoring utilization under the non-recourse factoring program was reduced by €6.7 million in 3M 2025 from December 31, 2024. Days of sales outstanding, calculated based on the quarterly revenue and including both contract assets and trade receivables, reduced to 81 days on March 31, 2025, from 88 days on December 31, 2024. Nagarro's cash balance at the end of March 31, 2025, was €162.2 million as against €192.6 million at the end of December 31, 2024. Nagarro's loans and borrowings at the end of March 31, 2025, were €302.5 million as against €329.6 million at the end of 2024. The company reported 17,496 professionals as of March 31, 2025. The summarized table for the twelve month period ended December 31, 2024, is as follows:20242023Growth mEURmEUR Revenue972.0912.16.6% YoY 7.2% YoY in constant currency Gross profit (current method)295.8- Gross profit (previous method)253.9235.77.7% YoY Gross margin (current method)30.4 %- Gross margin (previous method)26.1 %25.8 % Adjusted EBITDA147.5126.116.9% YoY Adjusted EBITDA margin15.2 %13.8 % EBITDA134.1118.613.1% YoY EBIT96.783.216.3% YoY Net profit49.249.2 The summarized table for the three month period ended March 31, 2025, is as follows: Q1Q1 20252024Growth mEURmEUR Revenue246.9238.33.6% YoY 2.4% YoY in constant currency Gross profit75.573.62.6% YoY Gross margin30.6 %30.9 % Adjusted EBITDA30.239.2Negative 22.8% YoY Adjusted EBITDA margin12.2 %16.4 % EBITDA33.036.0Negative 8.2% YoY EBIT24.126.6Negative 9.5% YoY Net profit11.216.6Negative 32.2% YoYNagarro SE will hold its analyst and investors meeting as a video call to discuss FY 2024 and Q1 2025 on May 15, 2025, at 1:00 pm CEST (4:00 am PT / 6:00 am CT / 7:00 am ET / 12:00 pm BST / 3:00 pm GST / 4:30 pm IST / 7:00 pm SGT / 8:00 pm JST). Nagarro SE will hold its retail investors call to discuss FY 2024 and Q1 2025 on May 15, 2025, at 2:30 pm CEST (5:30 am PT / 7:30 am CT / 8:30 am ET / 1:30 pm BST / 4:30 pm GST / 6:00 pm IST / 8:30 pm SGT / 9:30 pm JST). To attend, please register in advance at About Nagarro Nagarro, a global digital engineering leader, helps clients become fluidic, innovative, digital-first companies and thus win in their markets. The company is distinguished by its entrepreneurial, agile, and global character, its CARING mindset, and its Fluidic Enterprise vision. Nagarro employs around 17,500 people in 39 countries. For more information, please visit (FRA: NA9) (ISIN DE000A3H2200, WKN A3H220) For inquiries, please contact press@ Logo: View original content: SOURCE Nagarro Software Private Limited View original content:
