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Nirmal Bang Report
While Accenture Plc’s good Q2 FY22 (August year ender) performance, record order booking and upward revision of its guidance can be seen as a good read-through for the Indian IT services industry, a closer look at the numbers reveals a different picture-
Accenture has seen accelerated market share gains in FY20-FY22 compared to Tata Consultancy Services Ltd. and Infosys Ltd., indicating that its capability set is probably seeing greater market traction. It has been talking about three times industry growth in recent days versus two times in the past. The pivot to a different market-facing structure under Julie Sweet in early 2020 has likely been very rewarding (pivoting to a post 'Digital' world),
while the narrative among Indian IT players has been about mid-sized and more importantly small-sized deals over the last 12 months, the record signing of more than $100 million deals in Q2 FY22 indicates that Accenture is gaining even greater share in mid and large deals, which are probably complex, multi-service line deals and which involve business transformation.
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