Tech Mahindra Q2 FY27 EBIT rises to INR 2,387 crores, up 40.5% YoY

New Delhi, October 15th, 2026: Tech Mahindra (NSE: TECHM, BSE: 532755), a leading global provider of AI-powered technology consulting and digital solutions to global enterprises across industries announced the audited consolidated financial results for the quarter ended September 30, 2026.

Financial highlights for the quarter (USD)

Revenue $1,693 mn
- up 2.0% QoQ, up 6.8% YoY in reported terms
- up 2.4% QoQ, up 7.2% YoY in constant currency terms

EBIT $250 mn, up 4.9% QoQ, up 30.4% YoY

EBIT Margin 14.8%, up ~40 bps QoQ, up ~260 bps YoY

Profit After Tax (PAT) $166 mn, up 23.2% YoY

Profit After Tax (PAT) Margin 9.8%, up 130 bps YoY

New deal wins TCV $1,023 mn, up 25.4% YoY


Financial highlights for the quarter (₹)

Interim dividend declared at ₹ 15 per share

Revenue ₹ 16,180 crores; up 3.0% QoQ, up 15.6% YoY

EBIT ₹ 2,387 crores; up 5.4% QoQ, up 40.5% YoY

Profit After Tax (PAT) ₹ 1,586 crores, up 32.7% YoY

Diluted Earnings per share (EPS) at ₹ 17.84


Other Highlights

Total headcount at 152,206

LTM IT attrition at 11.7%

Free cash flow $135 mn; Days of Sales Outstanding 88 days

Cash and Cash Equivalent at the end of the quarter ₹7,330 crores

Mohit Joshi, CEO and Managing Director, Tech Mahindra, said, "Deal wins exceeding $1+ billion in each of the last four quarters reflect the strength of our customer relationships and the trust we have built. With 7.2% year-on-year constant currency growth, we continue to sustain business momentum. As we celebrate our 40th anniversary this quarter, we look ahead with confidence, building on our legacy of innovation, entrepreneurship, and long-term value creation for our stakeholders."

Rohit Anand, Chief Financial Officer, Tech Mahindra, said, "We delivered another strong quarter of growth, with margins expanding for the twelfth consecutive quarter, reflecting disciplined execution. We continue to invest in AI to improve productivity, drive innovation and build capabilities for future growth. The Board has recommended an interim dividend of ₹15 per share reaffirming our commitment to shareholders."

Key Deal Wins

Selected by a leading Canadian insurer as a strategic partner for an integrated Application Managed Services engagement spanning core insurance applications, vulnerability management, environment services, release engineering, and run operations. The engagement will accelerate platform modernization, improve operational efficiency, strengthen security, and enhance observability

Selected by a global logistics company to accelerate AI adoption and shape its product maturity strategy. Leveraging Tech Mahindra's logistics domain expertise, product consulting capabilities, and lean-agile experience, the engagement will define a product maturity roadmap, prioritize high-value AI use cases, and enhance product development and logistics operations

Selected by a leading digital network business to deliver a transformative Mainframe-as-a-Service program supporting critical communications infrastructure. Leveraging Tech Mahindra's strengths in infrastructure transformation, managed services, automation, and telecom domain expertise, the engagement will help deliver reliable connectivity services across the UK

Selected by a global enterprise software company as its preferred transformation partner to modernize and scale critical customer-facing services. Through AI-powered operations, platform expertise and an outcome-driven delivery framework, Tech Mahindra will help improve scalability, accelerate innovation, enhance customer outcomes, and drive operational efficiencies across a global ecosystem

Selected by a leading Australian telecom operator as their strategic managed services partner for a five-year engagement spanning application development, maintenance, testing, and AI engineering services. This win reflects Tech Mahindra's deep telecom expertise and proven experience in AI engineering services and managing mission-critical technology environments

Selected by a global leader in industrial process fluids and specialty chemicals as its strategic global workplace transformation partner. Through a unified operating model and AI-enabled workplace capabilities, Tech Mahindra will help modernize its workplace services, strengthen security, simplify integrations, and enhance employee experience globally

Selected by one of ASEAN's leading financial institutions as a strategic partner for its wealth management platform transformation. Leveraging Tech Mahindra's deep expertise and AI-led engineering capabilities, the program will modernize the platform, enhance client and advisor experiences, and support future growth across ASEAN wealth markets

Selected by a leading European energy company to transform contact centre operations through a multi-year engagement. Leveraging a unique delivery model and translation technology, Tech Mahindra will deliver a differentiated service model focused on operational excellence and customer experience


Business Highlights

Launched Zero Gravity Telco Architecture™ enabling telecom operators to reduce enterprise Gravity by addressing the architectural constraints that limit safe AI agent deployment, supporting their transition to AI-native operations

Announced a strategic partnership with SpaceXAI to build a global AI-powered software engineering practice, combining SpaceXAI's AI-native development platform with Tech Mahindra's engineering and transformation expertise

Partnered with I-HUB Quantum Technology Foundation to advance India's indigenous quantum computing capabilities, strengthening Tech Mahindra's presence in emerging technologies and next-generation computing platforms

Launched India's foundational educational LLM Indus Terra, a 30 bn parameter model built with Nvidia and AWS, as part of India AI mission

Launched the Consumer Agentic Experience Studio (CAX Studio), enabling enterprises to explore and scale AI-led transformation across the consumer value chain, while deepening ecosystem collaboration through strategic partnerships with Google, SAP, and Blue Yonder

Announced an expansion of its agentic AI readiness through partnership with Google Cloud and scale hands-on capabilities of Google Cloud Gemini Enterprise across Tech Mahindra's global workforce to support growing enterprise demand for production-ready AI. A key element of this expansion is 'Build with Gemini', a Google Cloud hands-on workshop rolled out to12,500+ associates worldwide

Announced an expanded multi-year partnership designed to accelerate how enterprises move from AI pilots to production-scale deployments and deliver faster time-to-value with playbooks validated via Tech Mahindra's own ServiceNow deployment and Industry-specific solutions built on the ServiceNow AI Platform

Announced a partnership with Cisco to deliver an AI-driven Security Service Edge (SSE) offering for global enterprises. The joint offering will help enterprises reduce security complexity, improve visibility and control, deliver seamless user access, and strengthen resilience as they scale cloud, hybrid work, and AI adoption

Announced a partnership with Wandelbots to build the infrastructure for Physical AI to help manufacturers accelerate the adoption of AI-powered automation and build the factories of the future by combining Physical AI software with enterprise-grade implementation capabilities

Announced a global alliance with Rezolve Ai to accelerate the deployment of Agentic Commerce across large enterprises worldwide. Together, the companies intend to give enterprises a single path, moving AI beyond pilots and customer-service chatbots into secure experiences that understand intent, recommend products and complete transactions

Announced a partnership to co-build and deliver agentic AI solutions for enterprise clients globally. The partnership combines Uniphore's Business AI Cloud (BAIC) platform with Tech Mahindra's deep digital business transformation expertise and global delivery capabilities, establishing an Agentic AI Factory to accelerate AI adoption at scale


Awards and Recognitions

Won first place at the National Quantum Computing Centre (NQCC) UK Quantum Hackathon 2026

Won Gold at the Stevie® International Business Award for Emerging Thought Leader of the Year

Received Best Moonshot Catalyst Award, for AI-Powered Business-Aware Assurance Solution with Google Cloud

Selected as a  Digital Masters Award Winner in Avasant's Digital Masters Process Transformation 2026 RadarView

Recognized at the 2026 Brandon Hall HCM Excellence Awards reflecting Tech Mahindra's continued focus on talent, learning, inclusion, and workforce excellence

Won Silver in two categories at the 2026 Stevie Awards for Great Employers

Recognized as a Disability Confident Service Provider By Department for Work and Pensions (DWP) UK

Felicitated as Champions in Risk Management and Benefits Administration at PeopleFirst HR Excellence 2026

Winner in Service Excellence, Wellness, Diversity & Young Leaders at the 2026 Asia CEO awards

Recognized as one of India's Best Tech Brands by ET Edge
Analyst Ratings & Recognitions

Leader - 'ISG's Provider Lens® evaluation for Manufacturing Industry Services and Solutions, Physical AI and Smart/Digital Factory Services, 2026, Europe

Leader - 'ISG's Provider Lens® evaluation for Manufacturing Industry Services and Solutions, Physical AI and Smart/Digital Factory Services, 2026, North America

Leader - 'ISG's Provider Lens® evaluation for Manufacturing Industry Services and Solutions, Engineering Research & Development (ER&D) Services, 2026, Europe

Leader - 'ISG's Provider Lens® evaluation for Manufacturing Industry Services and Solutions, Engineering Research & Development (ER&D) Services, 2026, North America

Leader - 'ISG's Provider Lens® evaluation for Manufacturing Industry Services and Solutions, Technology, Transformation and Consulting Services, 2026, North America

Leader - 'ISG's Provider Lens® evaluation for Telecom, Media and Entertainment AI-Native Transformation Services, Strategy, Monetization & AI-Native Enablement, 2026, Global

Leader - 'ISG's Provider Lens® evaluation for Telecom, Media and Entertainment AI-Native Transformation Services, AI Led Telco Engineering & Software Services, 2026, Global

Leader - 'ISG's Provider Lens® evaluation for Telecom, Media and Entertainment AI-Native Transformation Services, Satellite & Non-Terrestrial Network (NTN) Services, 2026, Global

Leader - 'ISG's Provider Lens® evaluation for Telecom, Media and Entertainment AI-Native Transformation Services, Autonomous Telecom IT and Business Operations, 2026, Global

Leader - 'ISG's Provider Lens® evaluation for AI-Driven ADM Services, Application Development Outsourcing, 2026 , U.S.

Leader - 'ISG's Provider Lens® evaluation for AI-Driven ADM Services, Application Managed Services, 2026 , APAC

Leader - 'ISG's Provider Lens® evaluation for Automotive and Mobility Services and Solutions, Autonomous Systems and Software Defined Vehicles, 2026, Europe

Leader - 'ISG's Provider Lens® evaluation for Automotive and Mobility Services and Solutions, Electric Vehicles and Mobility Services, 2026, North America

Leader - 'ISG's Provider Lens® evaluation for AI Services in Life Sciences, Life Sciences AI Consulting and Transformation Services, 2026, Global

Leader - 'ISG's Provider Lens® evaluation for 'Guidewire Services Ecosystem 2026, Global

Leader - NelsonHall's Achieving Operations Transformation Leveraging Agentic AI NEAT 2026 (Development & Use of AI Models)

Strong Leader - NelsonHall's AI Enablement Services NEAT assessment (AI Training)

Leader -Retail Digital Services PEAK Matrix® Assessment 2026

Leader -Customer Experience Management (CXM) Services PEAK Matrix® Assessment 2026 – APAC

Leader -ARC MarketMap for Engineering Services by GSPs in India 2025
Leader -HFS Horizons: Customer Experience Services, 2026


About Tech Mahindra

Tech Mahindra (NSE: TECHM, BSE: 532755) offers AI-powered technology consulting and digital solutions to global enterprises across industries, enabling transformative scale at unparalleled speed. With 146,000+ professionals across 90 countries, Tech Mahindra provides a full spectrum of services including consulting, information technology, enterprise applications, business process services, engineering services, network services, customer experience & design, AI & analytics, and cloud & infrastructure services. Tech Mahindra is part of the Mahindra Group, founded in 1945, one of the largest and most admired multinational federation of companies.

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