Ann: DTL FY20 Results Briefing, page-8

If anyone thinks that DTL is nearing the end of its growth runway,  this chart is worth contemplating:

While DTL's Total Revenues have been growing at around 12%-13% over the past 5 years, Cloud Revenues (blue) are growing at around 50% to 60% pa.



It should not be lost on even casual observers of numerical analysis that when the fastest growing part is still proportionally small, then the system assumes the growth rate of the larger, slower part.

But by the laws of compound growth, with the passage of time the slower-growing part a becomes proportionally smaller part.

And the growth rate of the system assumes the growth rate of the fastest-growing part.

In terms of what that implies for likely Revenue behaviour over the foreseeable future, the conclusion is not a difficult one to draw.

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