Tech Mahindra Income Statement

Financials in millions INR. Fiscal year is April - March.

Millions INR. Fiscal year is Apr - Mar.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022	Mar '21 Mar 31, 2021
Revenue	551,233	529,883	519,955	532,902	446,460	378,551
Revenue Growth (YoY)	5.05%	1.91%	-2.43%	19.36%	17.94%	2.68%
Cost of Revenue	364,982	362,558	365,589	363,129	297,869	247,932
Gross Profit	186,251	167,325	154,366	169,773	148,591	130,619
Selling, General & Admin	3,112	3,112	3,043	2,744	2,202	1,799
Other Operating Expenses	99,120	93,645	98,721	84,676	65,144	58,101
Operating Expenses	121,252	115,680	122,568	108,748	83,180	76,319
Operating Income	64,999	51,645	31,798	61,025	65,411	54,300
Interest Expense	-777	-655	-511	-456	-1,411	-1,466
Interest & Investment Income	1,979	1,979	1,568	1,078	995	3,256
Earnings From Equity Investments	-26	86	105	-290	28	12
Currency Exchange Gain (Loss)	-2,376	-2,376	-421	2,990	5,633	975
Other Non Operating Income (Expenses)	-4,175	286	2,770	1,384	1,219	622
EBT Excluding Unusual Items	59,624	50,965	35,309	65,731	71,875	57,699
Impairment of Goodwill	-273	-273	-4,582	-2,370	-	-507
Gain (Loss) on Sale of Investments	1,304	1,304	1,492	1,052	2,583	1,593
Gain (Loss) on Sale of Assets	4,536	4,536	25	42	63	744
Pretax Income	62,467	56,532	32,244	64,455	74,521	59,529
Income Tax Expense	16,557	14,002	8,276	15,885	18,220	15,999
Earnings From Continuing Operations	45,910	42,530	23,968	48,570	56,301	43,530
Minority Interest in Earnings	328	-15	-390	-257	-640	750
Net Income	46,238	42,515	23,578	48,313	55,661	44,280
Net Income to Common	46,238	42,515	23,578	48,313	55,661	44,280
Net Income Growth	23.44%	80.32%	-51.20%	-13.20%	25.70%	9.79%
Shares Outstanding (Basic)	886	886	884	882	879	874
Shares Outstanding (Diluted)	888	887	887	886	886	882
Shares Change (YoY)	-0.00%	0.03%	0.16%	-0.04%	0.45%	0.30%
EPS (Basic)	52.17	48.00	26.66	54.76	63.32	50.64
EPS (Diluted)	52.10	47.91	26.58	54.54	62.81	50.19
EPS Growth	23.44%	80.25%	-51.27%	-13.17%	25.14%	9.47%
Free Cash Flow	-	51,922	55,853	45,568	43,269	74,278
Free Cash Flow Per Share	-	58.51	62.95	51.44	48.83	84.20
Dividend Per Share	45.000	45.000	40.000	32.000	15.000	15.000
Dividend Growth	4.65%	12.50%	25.00%	113.33%	-	-
Gross Margin	33.79%	31.58%	29.69%	31.86%	33.28%	34.51%
Operating Margin	11.79%	9.75%	6.12%	11.45%	14.65%	14.34%
Profit Margin	8.39%	8.02%	4.54%	9.07%	12.47%	11.70%
Free Cash Flow Margin	-	9.80%	10.74%	8.55%	9.69%	19.62%
EBITDA	75,758	63,345	44,753	75,065	75,392	63,950
EBITDA Margin	13.74%	11.96%	8.61%	14.09%	16.89%	16.89%
D&A For EBITDA	10,759	11,700	12,955	14,040	9,981	9,650
EBIT	64,999	51,645	31,798	61,025	65,411	54,300
EBIT Margin	11.79%	9.75%	6.12%	11.45%	14.65%	14.34%
Effective Tax Rate	26.51%	24.77%	25.67%	24.64%	24.45%	26.88%
Revenue as Reported	555,326	538,437	529,124	542,552	457,583	386,422

Source: S&P Global Market Intelligence. Standard template. Financial Sources.