PERSISTENT

Capital Allocation & Balance Sheet The company maintains a strong balance sheet with low debt. Focus remains on: Organic growth Selective capability-led acquisitions Shareholder returns through dividends 🔹 Market Sentiment & Valuation Discussion Persistent Systems trades at a premium valuation compared to traditional Tier-1 IT companies. The premium is justified by the market on grounds of: Faster growth Niche positioning Higher revenue visibility However, near-term stock performance is sensitive to: Global IT spending outlook US macro data Commentary from large global tech clients 🔹 Key Risks to Track Prolonged slowdown in US enterprise tech budgets Deal ramp-up delays Any margin compression due to pricing pressure Elevated expectations built into valuation multiples