“Sandip Agarwal is bearish on the current valuations of Indian IT services companies for the next two to three years, despite the sector's resilient business model. He expects a mid-single-digit growth phase, projecting 5-6% revenue growth for large-caps and 10-12% for mid-caps, due to AI-driven effort reduction and potential 20-25% pricing cuts during contract renewals. He questions paying 18-20x earnings for large-caps in a slow growth environment, anticipating a 'multiple reset' unless growth re-accelerates.”

Sandip Agarwal’s track record: 5 graded calls · 95% CI 12–77%