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What is the story about?
As many as five IT service providers, Mphasis Ltd., Persistent Systems Ltd., Sasken Technologies Ltd., Cyient Ltd., Firstsource Solutions Ltd., and Coforge Ltd. have described the impact the ongoing H-1B visa issue will have on their financial performance.
The companies made their clarifications to the exchanges on Sunday evening. Here's what each of them had to say:
Overnight, Mphasis, in an exchange filing stated that it does not foresee any significant impact on their financials or operations due to this move, given how low their H-1B filing volume is, along with the relative portion of their US employees that are on such a visa.
In calendar year 2025, the company has made only 130 such H-1B filings, of which, 78 have been approved till date.
"Our focus on AI led deals has helped us build sufficient system resiliency. Over the years, we have been steadily reducing our reliance on visas through increased local hiring, acquisitions, and partnerships," Mphasis stated, adding that they will continue to operate in "business-as-usual" mode, while ensuring that their AI-led propositions solve any challenge that arises.
Persistent Systems, which derives a significant amount of revenue from the US market highlighted that based on their current assessment, they do not expect any significant impact of the executive order on their operations or financials.
"We will continue to monitor the developments in this regard closely and will provide updates as appropriate," Persistent wrote in its filing.
Similar to Persistent, Sasken Technologies also highlighted that the order will have little or no impact on the company's ability to serve its customers in the US.
The company added that their offshore-led business will ensure continuity, while their teams remain in close touch with their customers.
Majority of Sasken's workforce is engaged in engineering R&D and digital services from development centres in India.
"As a result, Sasken is well=positioned to continue meeting customer needs seamlessly, regardless of geopolitical or regulatory changes," the company highlighted.
The IT services provider also said that it does not impact any material impact due to this order on tis financials for financial year 2026 and for the immediate term.
For the previous year, the number of employees deployed on the H-1B visa stood at six.
The RPSG Group company highlighted that it has "zero-dependency" on the H-1B program for its operations.
Firstsource added that the program will have no impact on operations or financials as focuses on strong local hiring and a globally distributed execution model, regardless of immigration regulations.
Coforge, in an exchange filing mentioned that the United States contributed 53% to the company's overall revenue in financial year 2025.
However, for the full year, Coforge filed only 65 new H-1B visa petitions, of which 63 were approved by the USCIS.
"Over the years, Coforge has consciously reduced reliance on the new H-1B petitions for project staffing, reflecting in the low number of fresh petitions filed," the company said.
Indian IT stocks will be reacting on Monday to US President Donald Trump's order over the weekend, which restricts the entry of certain non-immigrant workers.
The administration has gone on to clarify that this $1,00,000 fee will not be applicable to any H-1B visas issued previously or any petitions submitted prior to 12:01 AM Eastern Time on September 21, 2025.
The US-listed shares of Infosys and Wipro fell up to 4% on Friday, but a lot of clarity has been issued in this regard since then.
The companies made their clarifications to the exchanges on Sunday evening. Here's what each of them had to say:
Mphasis
Overnight, Mphasis, in an exchange filing stated that it does not foresee any significant impact on their financials or operations due to this move, given how low their H-1B filing volume is, along with the relative portion of their US employees that are on such a visa.
In calendar year 2025, the company has made only 130 such H-1B filings, of which, 78 have been approved till date.
"Our focus on AI led deals has helped us build sufficient system resiliency. Over the years, we have been steadily reducing our reliance on visas through increased local hiring, acquisitions, and partnerships," Mphasis stated, adding that they will continue to operate in "business-as-usual" mode, while ensuring that their AI-led propositions solve any challenge that arises.
Persistent Systems
Persistent Systems, which derives a significant amount of revenue from the US market highlighted that based on their current assessment, they do not expect any significant impact of the executive order on their operations or financials.
"We will continue to monitor the developments in this regard closely and will provide updates as appropriate," Persistent wrote in its filing.
Sasken Technologies
Similar to Persistent, Sasken Technologies also highlighted that the order will have little or no impact on the company's ability to serve its customers in the US.
The company added that their offshore-led business will ensure continuity, while their teams remain in close touch with their customers.
Majority of Sasken's workforce is engaged in engineering R&D and digital services from development centres in India.
"As a result, Sasken is well=positioned to continue meeting customer needs seamlessly, regardless of geopolitical or regulatory changes," the company highlighted.
Cyient
The IT services provider also said that it does not impact any material impact due to this order on tis financials for financial year 2026 and for the immediate term.
For the previous year, the number of employees deployed on the H-1B visa stood at six.
Firstsource Solutions
The RPSG Group company highlighted that it has "zero-dependency" on the H-1B program for its operations.
Firstsource added that the program will have no impact on operations or financials as focuses on strong local hiring and a globally distributed execution model, regardless of immigration regulations.
Coforge
Coforge, in an exchange filing mentioned that the United States contributed 53% to the company's overall revenue in financial year 2025.
However, for the full year, Coforge filed only 65 new H-1B visa petitions, of which 63 were approved by the USCIS.
"Over the years, Coforge has consciously reduced reliance on the new H-1B petitions for project staffing, reflecting in the low number of fresh petitions filed," the company said.
Indian IT stocks will be reacting on Monday to US President Donald Trump's order over the weekend, which restricts the entry of certain non-immigrant workers.
The administration has gone on to clarify that this $1,00,000 fee will not be applicable to any H-1B visas issued previously or any petitions submitted prior to 12:01 AM Eastern Time on September 21, 2025.
The US-listed shares of Infosys and Wipro fell up to 4% on Friday, but a lot of clarity has been issued in this regard since then.
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