India · Delayed Price · Currency is INR Tech Mahindra Earnings Call Transcripts
Fiscal Year 2026
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Q3 saw record deal bookings, strong revenue and margin growth, and major wins in telecom, manufacturing, and retail. Operating margin expanded to 13.1%, with robust free cash flow and a strong deal pipeline. AI and digital transformation remain key growth drivers.
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Q2 FY26 saw broad-based revenue growth, continued margin expansion, and strong deal wins, with manufacturing, BFSI, and logistics leading. AI investments and operational rigor are driving differentiation, while macro headwinds persist in some regions and segments.
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Q1 FY26 saw modest revenue growth and continued margin expansion, with strong deal wins and progress in Communications and BFSI offsetting softness in Manufacturing and Hi-Tech. Management remains confident in achieving FY27 margin targets and expects sequential revenue growth from Q2 as large deals ramp up.
Fiscal Year 2025
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FY 2025 saw stable revenue, strong margin expansion, and record deal wins, driven by operational efficiencies and strategic focus on AI and consulting. Despite macro headwinds in manufacturing and high-tech, diversified growth and disciplined execution support the FY 2027 roadmap.
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Q3 FY25 saw steady revenue and margin growth despite currency headwinds, with $745M in new deal wins and strong performance in BFSI and healthcare. Investments in AI, talent, and partnerships are driving transformation, with management confident in achieving FY27 targets.
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Revenue grew 2.2% YoY and 1.9% QoQ, with margin expansion for the third straight quarter, driven by operational efficiencies and strategic deal wins. Telecom and manufacturing remain soft, but BFSI and other verticals showed growth. Management maintains a focus on margin discipline and long-term investments.
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Q1 FY2025 saw revenue of $1.559 billion with sequential growth and margin expansion, driven by manufacturing and healthcare, while communications faced seasonal weakness. Strategic initiatives in AI, portfolio integration, and operational efficiency supported improved profitability and a positive outlook.