Infosys Ltd Q2 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Published 4 Aug 2026 | IT - Software | Market Cap: ₹4.7L Cr
Infosys has increased its revenue growth guidance to 2% to 3% for the full financial year, reflecting confidence in future growth. Infosys has increased revenue growth guidance for the full fiscal year to 2% to 3%.
From Infosys Ltd's Q2 FY26 earnings-call transcript · updated 23 Aug 2026.
Price
₹1,121
Market Cap
₹4.7L Cr
P/E Ratio
15.2
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Infosys Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹46.4K Cr, net profit ₹8.5K Cr.
Full financials →📊 Revenue & Sales Performance
- →Infosys has increased its revenue growth guidance to 2% to 3% for the full financial year, reflecting confidence in future growth.
- →Large deal wins remain strong, including a $1.6 billion mega deal expected to start ramping up within the fiscal year.
- →Despite seasonal softness and lower working days in H2 affecting growth, the company sees strong deal pipelines and client demand, especially in AI, cloud modernization, and automation.
- →Volumes are expected to remain soft with growth primarily driven by realization (pricing) increases.
- →AI adoption is creating new growth opportunities, with Infosys delivering over 2,500 Generative AI projects, leveraging AI to enhance productivity and sales.
- →Expansion in verticals like Financial Services and Manufacturing is robust, with above 5% year-on-year growth ongoing.
- →The company continues to invest in talent, having onboarded 12,000 freshers recently to support future demand.
📈 Profitability & Margins
- →Infosys has increased revenue growth guidance for the full fiscal year to 2% to 3%.
- →Operating margin is expected to remain stable between 20% and 22%.
- →Q2 operating margin expanded by 20 basis points sequentially to 21%, with continued investments in sales and marketing.
- →EPS in Q2 grew 13% year-on-year, reaching Rs. 17.6.
- →Large deal TCV is strong, with a $1.6 billion mega deal adding net new revenue and expected to ramp up this year.
- →Utilization remains high at 85%, supporting revenue growth.
- →Free cash flow remains robust at 131% of net profit for the quarter and 120% for H1.
- →Margin impact from acquisition margins (e.g., Versent) not disclosed, but disciplined approach to maintaining margin profiles in large deals noted.
- →Overall, the company expects steady earnings and margin growth supported by AI-driven solutions, strong deal wins, and operational efficiencies.
🏗️ Capital Expenditure Plans
- →Infosys has announced an Rs. 18,000 crore buyback through tender route at Rs. 1,800 per share, expected to be completed in Q3, subject to shareholder approval.
- →The Board approved a Rs. 23 interim dividend, which is 9.5% higher than the FY '25 interim dividend.
- →Infosys continues to invest in talent, with over 12,000 freshers hired in the last 6 months, increasing total headcount to 332,000.
- →The company is investing in sales and marketing, reflected in a 12.8% growth in S&M costs H1 over H1.
- →Infosys is building local delivery centers and hubs focused on emerging technologies, especially in the U.S., to reduce dependence on work visas.
- →No specific mentions of large-scale capex/capital investments such as data centers by Infosys itself, but they are partnering with ecosystem partners who are expanding AI data center capacity for future implementation and inference work.
💰 Fundraising & Capital Structure
- →There is no mention of any current or future new fundraising through debt or equity in the provided transcript pages.
- →The company has announced an Rs. 18,000 crores buyback through the tender route at Rs. 1,800 per share, expected to be completed in Q3, subject to shareholder approval.
- →The Board approved a Rs. 23 interim dividend, which is 9.5% higher than the FY '25 interim dividend.
- →Cash and investments stood strong at $6.2 billion at the end of the quarter, with no indication of plans for raising additional capital via debt or equity.
- →Focus appears to be on managing cash flow and returning value to shareholders rather than raising new funds.
📋 Order Book & Pipeline
- →Large deal Total Contract Value (TCV) for Q2 stood at $3.1 billion, with 67% being net new.
- →For the first half (H1), deal wins amounted to $6.9 billion, with net new deals constituting over 60%.
- →A significant mega deal with the NHS was announced after the quarter, further strengthening the order pipeline.
- →The order book visibility is supported by strong large deal wins and a robust pipeline.
- →No specific figures on total order backlog or pending orders were disclosed beyond the above deal signings.
- →The deal activity in smaller deals remains steady, similar to previous quarters, with no major uptick noted.
- →Accounting for these deal wins, the company raised full-year revenue growth guidance to 2%-3%.
Key Metrics
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What Infosys's management said in earlier quarters
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Frequently Asked Questions
What were Infosys Ltd Q2 FY26 results?
Infosys has increased its revenue growth guidance to 2% to 3% for the full financial year, reflecting confidence in future growth. Infosys has increased revenue growth guidance for the full fiscal year to 2% to 3%.
What is Infosys Ltd share price analysis?
Infosys Ltd currently shows a neutral. The stock trades at a P/E of 15.2 with a market cap of ₹474,468 Cr. Investors should review the full earnings analysis for detailed insights.
Is Infosys Ltd planning capital expenditure?
Infosys has announced an Rs.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.