Company: G
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001398659-25-000109
Chunk: 93

Company: Genpact LTD
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 93
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 for discrete items, if any, that are taken into account in the relevant period. Each quarter, the Company updates its estimate of the annual effective tax rate, and if its estimated tax rate changes, the Company makes a cumulative adjustment.The Company’s effective tax rate (“ETR”) was 23.0% for the three months ended September 30, 2025, down from 24.3% for the three months ended September 30, 2024. The decrease in the Company’s ETR in the three months ended September 30, 2025 was primarily driven by the mix of the Company's pre-tax income and the impact of discrete items.The Company’s ETR was 24.4% for the nine months ended September 30, 2025, down from 24.8% for the nine months ended September 30, 2024. The decrease in the Company’s ETR in the nine months ended September 30, 2025 was primarily driven by the mix of the Company's pre-tax income and the impact of discrete items.

23. Commitments and contingencies

 Capital commitments As of December 31, 2024 and September 30, 2025, the Company has committed to spend $25,309 and $19,783, respectively, under agreements to purchase property, plant and equipment. This amount is net of capital advances paid in respect of these purchases.Bank guarantees The Company has outstanding bank guarantees and letters of credit amounting to $10,014 and $9,576 as of December 31, 2024 and September 30, 2025, respectively. Bank guarantees are generally provided to government agencies or for leases. These guarantees may be revoked if the beneficiary suffers any losses or damages through the breach of any of the covenants contained in the agreements governing such guarantees.

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GENPACT LIMITED AND ITS SUBSIDIARIESNotes to the Consolidated Financial Statements(Unaudited)(In thousands, except per share data and share count)

23. Commitments and contingencies (Continued)Other commitmentsCertain units of the Company’s Indian subsidiaries are established as Software Technology Parks of India units or Special Economic Zone (“SEZ”) units under the relevant regulations issued by the Government of India. These units are exempt from customs and other duties on imported and indigenous capital goods, stores and spares. SEZ units are also exempt from the Indian Goods and Services Tax that was introduced in India in 2017. The Company has undertaken to