Tech Mahindra (TECHM) Q4 25/26 earnings summary

Executive summary

• FY26 revenue reached $6,385 million, up 1.9% YoY in USD and 0.6% in constant currency; INR revenue was ₹56,815 crore, up 7.2% YoY.

• EBIT for FY26 was $797 million, up 31.4% YoY, with EBIT margin expanding to 12.6%, a 290 bps increase YoY.

• PAT for FY26 was $537 million, up 7.0% YoY; PAT margin at 8.5%.

• Achieved record deal wins of $3,794 million, up 41.6% YoY, reflecting strong client confidence and transformation capabilities.

• Total dividend for FY26 is ₹51 per share, the highest ever, up over 13% YoY.

Financial highlights

• Q4 FY26 revenue was $1,625 million, up 0.9% QoQ and 4.9% YoY; INR revenue ₹15,076 crore, up 4.7% QoQ and 12.6% YoY.

• Q4 EBIT was $223 million, up 5.5% QoQ and 36.3% YoY; EBIT margin at 13.8%.

• Q4 PAT was $145 million, up 6.7% YoY; PAT margin at 9.0%.

• Client metrics improved, with 29 clients contributing over $50 million and 66 clients over $20 million annually.

• Diluted EPS for FY26 was ₹54.19; Q4 FY26 EPS was ₹15.24.

Outlook and guidance

• On track to deliver FY27 commitments, with continued focus on scaling with discipline and AI-led transformation.

• Sustained momentum expected, supported by highest deal wins in recent years and ongoing innovation.

• The company is transitioning to an AI-led organization, embedding AI across services and expanding capabilities.