Core Insights - The company is intentionally reducing focus on 'commoditized' cost-plus enterprise IT work, where differentiation is challenging and customer retention is lower [1] - Q4 performance was affected by procurement delays and customer disruptions, but margins remained resilient due to aggressive cost-management efforts [1] - The company is pursuing an 'addition by subtraction' strategy in business development, concentrating resources on a pipeline valued between $25 billion and $28 billion with higher 'right to win' potential [1] - A new bottoms-up enterprise transformation initiative is being implemented to eliminate inefficiencies from legacy processes and enhance investment capacity for innovation [1] - Strategic focus is shifting towards mission-critical engineering and AI-enabled solutions, leveraging the SilverEdge acquisition to better serve intelligence customers [1] - Recent organic contraction is primarily attributed to recompete losses in large enterprise IT, a segment projected to decline from 17% to 10% of revenue by FY2027 [1]

FINANCIAL RESULTS FY26 4Q SUPPLEMENTAL FINANCIAL PRESENTATION MARCH 16, 2026 SAIC PROPRIETARY INFORMATION I © SAIC. ALL RIGHTS RESERVED FORWARD LOOKING STATEMENTS Certain statements in this presentation are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "may," "will," "should," "expects," "intends," "projects," "plans," "believes," "estimates," "targets," "anticipates," and similar expressions identify forward-looking statements in this ...

Core Viewpoint - Analysts expect SAIC to report a decline in quarterly earnings per share to $2.01, down from $2.57 in the same period last year [1] - The consensus estimate for SAIC's quarterly revenue is projected at $1.77 billion, a decrease from $1.84 billion reported last year [1] Financial Guidance - For FY26, SAIC anticipates revenue of approximately $7.26 billion, slightly lower than the previous guidance range of $7.275 billion to $7.325 billion [1] - The adjusted earnings per share (EPS) guidance for FY26 is set at $10.40 to $10.60, an increase from the earlier guidance of $9.80 to $10 [1] Stock Performance - Shares of SAIC increased by 0.4%, closing at $91.91 on Friday [2]

Market Overview - Indian equities are experiencing one of their sharpest corrections in recent years, with over 400 stocks falling in double digits since the onset of the Iran conflict, indicating a significant risk-off sentiment in the market [1][24] - The benchmark Nifty has fallen nearly 8% in March 2026, marking the second sharpest monthly decline in the last decade, while the BSE Sensex has lost nearly 4,000 points in the past week [9][10] Sector Performance - The sell-off has affected largecaps, midcaps, and smallcaps across various sectors, with notable declines in technology, financials, automobiles, and consumer goods [8][24] - Specific stocks such as Infobeans Technologies have dropped over 40%, while others like Aqylon Nexus and SEPC have seen declines of more than 30% and 29% respectively [2][24] - Automobile and auto component companies, including Lumax Industries and Rico Auto Industries, have experienced declines between 18% and 20% [6][24] - Financial institutions like City Union Bank and IndusInd Bank have registered losses ranging from 14% to 18% [7][24] Geopolitical Impact - The ongoing conflict involving Iran is identified as the central trigger for the recent market turbulence, with fears of disruption in global energy supplies leading to a surge in crude oil prices [11][24] - India, which imports nearly 85% of its crude oil, faces significant risks related to energy security and macroeconomic stability due to potential disruptions in the Strait of Hormuz [12][24] Foreign Investment Trends - Heavy foreign institutional investor outflows have intensified the sell-off, with nearly Rs 50,000 crore worth of Indian equities sold this month [14][25] - Global investors are shifting towards safer assets amid rising geopolitical uncertainty, contributing to capital outflows from emerging markets [15][25] IT Sector Concerns - Structural concerns in the IT sector, particularly regarding the impact of artificial intelligence on growth prospects, have led to reassessment of demand visibility for outsourcing services, negatively affecting technology stocks [16][25] Market Outlook - Analysts expect continued volatility in the near term, driven by geopolitical developments and crude oil price trajectories [18][25] - Technical indicators suggest immediate support around the 22,900 level, with potential further declines if this level is breached [21][25] - A cautious investment strategy is recommended, with a focus on avoiding aggressive leverage and maintaining strict risk management [22][25]

Investment Rating - The report indicates a negative outlook for the European loan market, with a performance rating reflecting a decline of negative 0.75% for January and February combined [4][22]. Core Insights - The European loan market experienced significant losses in February, driven by fears of AI disruption and geopolitical tensions, leading to the lowest weighted average bid since October 2023 [1][4]. - The software and IT services sectors were particularly hard hit, with returns of negative 5.28% and negative 5.92% respectively [7]. - The average discounted spread of the European Leveraged Loan Index (ELLI) reached its highest level since December 2023, indicating increased risk compensation [18]. - A notable increase in loan downgrades compared to upgrades was observed, with the ratio reaching 8x in February, the highest since 2020 [44]. Market Performance - The ELLI recorded a weighted average bid of 95.24, marking a 2.5-year low [7][8]. - The market-value component of loan performance was negative 0.91%, the largest loss since March 2025 [10]. - The yield to maturity on loans tracked by the ELLI rose to 6.93%, a 3.5-year high [15]. - Distress levels in the ELLI remained elevated, with 5.2% of loans classified as distressed, slightly down from 5.8% in January [31]. Sector Analysis - The Chemicals sector showed a positive return of 3.74%, while the IT Services and Software sectors faced significant declines [14]. - Software loans accounted for a substantial portion of the losses, contributing 0.51% to the total YTD index return of negative 0.77% [14]. - The Health Care Providers & Services sector represented nearly 18% of all distressed loans in the index, indicating potential vulnerabilities [48]. Supply and Demand Dynamics - The European loan market saw a 50% year-over-year decline in institutional loan supply, totaling €6.85 billion in February [35]. - The net supply shortage eased to approximately €7.5 billion in February, down from €10 billion in January [38]. - The ELLI reached a new high watermark of over €341 billion outstanding at the end of February [40].

Market Overview - The combined market valuation of the top-10 domestic firms decreased by ₹4.48 lakh crore last week due to a significant decline in equities, primarily affecting State Bank of India and HDFC Bank [1] - The BSE benchmark Sensex fell by 4,354.98 points or 5.51 percent, while the NSE Nifty dropped by 1,299.35 points or 5.31 percent, driven by rising crude prices and concerns over inflation and global economic stability [1] Crude Oil Impact - The primary factor for the market weakness was the sustained rise in crude oil prices, which surpassed $101 per barrel amid escalating conflicts involving Iran, the United States, and Israel, raising concerns about India's fiscal position and inflation outlook [2] Company Valuations - State Bank of India's market valuation decreased by ₹89,306.22 crore to ₹9,66,261.05 crore [4] - HDFC Bank's valuation fell by ₹61,715.32 crore to ₹12,57,391.76 crore [4] - Bajaj Finance's market valuation dropped by ₹59,082.49 crore to ₹5,32,053.54 crore [4] - Tata Consultancy Services (TCS) saw a decline of ₹53,312.52 crore in its valuation, bringing it to ₹8,72,067.63 crore [4] - ICICI Bank's market capitalization fell by ₹42,205.04 crore to ₹8,97,844.78 crore [5] - Bharti Airtel's valuation plunged by ₹38,688.78 crore to ₹10,28,431.72 crore [5] - Reliance Industries experienced a decrease of ₹33,289.88 crore, resulting in a valuation of ₹18,68,293.17 crore [5] - LIC's market capitalization diminished by ₹31,245.49 crore to ₹4,88,985.57 crore [5] - Infosys saw a decline of ₹24,230.96 crore in its valuation, now at ₹5,06,315.58 crore [5] - Hindustan Unilever's market capitalization dipped by ₹15,401.57 crore to ₹5,07,640.94 crore [5] Company Rankings - Reliance Industries remains the most valued domestic firm, followed by HDFC Bank, Bharti Airtel, State Bank of India, ICICI Bank, TCS, Bajaj Finance, Hindustan Unilever, Infosys, and LIC [6]

Market Overview - The stock market experienced significant declines, with the BSE Sensex dropping by 4,354.98 points (5.51%) and the NSE Nifty declining by 1,299.35 points (5.31%) during the week [3][5][6] - The downturn was primarily driven by rising crude oil prices, which surged past USD 101 per barrel, raising concerns about inflation and global economic stability amid escalating conflicts in West Asia [3][5][6] Company Valuations - The top 10 firms in India collectively lost Rs 4.48 lakh crore in market value due to the sharp sell-off in equities [5] - State Bank of India saw the largest drop in market capitalisation, falling by Rs 89,306.22 crore to Rs 9,66,261.05 crore [4][6] - HDFC Bank's valuation decreased by Rs 61,715.32 crore, bringing its market capitalisation to Rs 12,57,391.76 crore [6] - Bajaj Finance's market value reduced by Rs 59,082.49 crore, resulting in a capitalisation of Rs 5,32,053.54 crore [4][6] - Tata Consultancy Services (TCS) experienced a decline of Rs 53,312.52 crore, lowering its valuation to Rs 8,72,067.63 crore [4][6] - ICICI Bank's market capitalisation fell by Rs 42,205.04 crore to Rs 8,97,844.78 crore [4][6] - Bharti Airtel's valuation dropped by Rs 38,688.78 crore to Rs 10,28,431.72 crore [4][6] - Reliance Industries, despite a decline of Rs 33,289.88 crore, remained the most valued company with a market capitalisation of Rs 18,68,293.17 crore [4][6] - Life Insurance Corporation of India (LIC) saw a decrease of Rs 31,245.49 crore, bringing its market value to Rs 4,88,985.57 crore [4][6] - Infosys lost Rs 24,230.96 crore in valuation, resulting in a market capitalisation of Rs 5,06,315.58 crore [4][6] - Hindustan Unilever recorded a decline of Rs 15,401.57 crore, pushing its market value down to Rs 5,07,640.94 crore [4][6] Ranking of Most Valued Firms - Despite the overall market decline, Reliance Industries maintained its position as the most valued firm, followed by HDFC Bank, Bharti Airtel, State Bank of India, ICICI Bank, TCS, Bajaj Finance, Hindustan Unilever, Infosys, and LIC [4][6]

Market Overview - The BSE benchmark Sensex fell by 4,354.98 points or 5.51 percent, while the NSE Nifty dropped by 1,299.35 points or 5.31 percent due to rising crude oil prices and concerns over inflation and global economic stability amid the conflict in West Asia [1][9]. Key Drivers - The primary driver of market weakness was the sustained rise in crude oil prices, with Brent crude surpassing USD 101 per barrel, raising concerns about India's fiscal position and inflation outlook [2][9]. Company Valuations - The market valuation of State Bank of India decreased by Rs 89,306.22 crore to Rs 9,66,261.05 crore [2][9]. - HDFC Bank's valuation eroded by Rs 61,715.32 crore to Rs 12,57,391.76 crore [3][9]. - Bajaj Finance's valuation dived by Rs 59,082.49 crore to Rs 5,32,053.54 crore, while Tata Consultancy Services (TCS) saw a decline of Rs 53,312.52 crore to Rs 8,72,067.63 crore [6][9]. - ICICI Bank's market capitalisation dropped by Rs 42,205.04 crore to Rs 8,97,844.78 crore, and Bharti Airtel's valuation plunged by Rs 38,688.78 crore to Rs 10,28,431.72 crore [7][9]. - Reliance Industries' valuation fell by Rs 33,289.88 crore to Rs 18,68,293.17 crore, while LIC's market capitalisation diminished by Rs 31,245.49 crore to Rs 4,88,985.57 crore [8][9]. - Infosys experienced a decline of Rs 24,230.96 crore to Rs 5,06,315.58 crore, and Hindustan Unilever's market capitalisation dipped by Rs 15,401.57 crore to Rs 5,07,640.94 crore [8][9]. Overall Market Impact - The combined market valuation of the top-10 domestic firms eroded sharply by Rs 4.48 lakh crore, with significant losses primarily attributed to banking majors State Bank of India and HDFC Bank [9].

Core Viewpoint - A securities fraud class action lawsuit has been filed against Kyndryl Holdings, Inc. for alleged material misstatements and omissions regarding its financial practices and internal controls during the specified class period [2][4]. Group 1: Lawsuit Details - The lawsuit is filed on behalf of investors who purchased Kyndryl securities between August 7, 2024, and February 9, 2026, and is pending in the United States District Court for the Eastern District of New York [2][6]. - Investors have until April 13, 2026, to file for lead plaintiff status in the lawsuit [6][7]. - The key allegations include that Kyndryl's financial statements were materially misstated and that the company lacked adequate internal controls [4][6]. Group 2: Stock Performance and Impact - Kyndryl's stock price dropped over 54% following the announcement of the departure of the CFO and General Counsel on February 9, 2026, closing at $10.59 from $23.49 on February 6, 2026 [5]. - The company disclosed that it is reviewing its cash management practices and anticipates reporting material weaknesses in its internal control over financial reporting [5]. Group 3: Investor Actions - Kyndryl investors are encouraged to contact Kessler Topaz Meltzer & Check, LLP for a free case evaluation and to discuss their legal rights [3][9]. - Investors can choose to file for lead plaintiff status, contact the law firm for evaluation, or take no action and remain absent class members [7][8].

Core Viewpoint - A class action lawsuit has been filed against Kyndryl Holdings, Inc. for allegedly misleading investors through materially misstated financial statements and inadequate internal controls during the Class Period from August 7, 2024, to February 9, 2026 [1][3]. Group 1: Lawsuit Details - The lawsuit claims that Kyndryl failed to disclose significant deficiencies in its internal control environment, which ultimately led to the inability to timely file its Form 10-Q for the quarter ended December 31, 2025 [3]. - The true extent of Kyndryl's internal control and financial reporting issues was revealed on February 9, 2026, when the company filed a Notice of Late Filing and disclosed that its Audit Committee was reviewing cash management practices and that the SEC was investigating these matters [4]. Group 2: Market Reaction - Following the revelations on February 9, 2026, Kyndryl's shares plummeted by 55%, decreasing by $12.90 to a closing price of $10.59 per share [5]. Group 3: Company Background - Kyndryl is an IT infrastructure services company based in New York City [2].