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Mphasis Ltd

Q1 FY26IT - Software

Mphasis Q1 FY26 earnings call: Revenue & Margins

Q1 FY26 earnings call: what management said on revenue, margins and capex.

Price₹2,430
Market cap₹48.6K Cr
P/E25.1
Updated23 Aug 2026
Read4 min read

The short version

Mphasis expects to grow at approximately 2X the industry growth for FY26, based on strong Q1 performance and steady ramp-up of large deals. Mphasis expects FY26 to achieve approximately 2x industry growth, building on Q1 performance and steady ramp-up of large deals.

From Mphasis Ltd's Q1 FY26 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

  • Mphasis expects to grow at approximately 2X the industry growth for FY26, based on strong Q1 performance and steady ramp-up of large deals.
  • Pipeline shows robust growth with a 16% increase quarter-on-quarter and 84% year-on-year.
  • The company anticipates steady conversion of Total Contract Value (TCV) to revenue.
  • BFS, Insurance, and TMT verticals continue delivering over 20% year-on-year growth in constant currency.
  • Logistics & Transportation vertical, impacted by earlier investments, is expected to gradually recover through the remainder of the year.
  • Deal wins are broad-based, coming from both new and existing clients across multiple verticals.
  • The growth strategy emphasizes tight execution and client-centric tech-led transformation amid macroeconomic uncertainties.

2 more points from Mphasis Ltd's call on revenue

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Profitability & Margins

See what Mphasis Ltd said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

  • Strategic minority investment of $4 million for a 26% stake in 'Aokah,' a GCC advisory firm set up by the ex-founder of the Neo Group. This aims to help shape deals as clients consider GCC models and create new client engagements, particularly in GCC advisory and follow-up execution.
  • The investment in 'Aokah' is capital in nature and not a P&L expense.
  • Continued investments in AI-led platforms such as Mphasis NeoZeta™, NeoCrux™, and NeoSaBa™, combining Generative and Agentic AI to enhance human performance, modernize systems, and accelerate next-gen application development.
  • Ongoing investment in platform-led constructs and Savings-led Transformation™ initiatives.

2 more points from Mphasis Ltd's call on capex

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Top-ranked in IT - Software

Ranked on what management guided this quarter

Guidance-ranked
1Workmates Core2
Rev 1Mar 1
2Virtual Galaxy
Rev 1Mar 3
3
Rev 2Mar 1
4
Rev 2Mar 1
5
Rev 2Mar 2
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Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

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Order Book & Pipeline

  • Mphasis reported a strong deal pipeline, with a 16% QoQ and 84% YoY growth in qualified pipeline.
  • The company achieved record-high total contract value (TCV) wins of $760 million in the quarter.
  • Pipeline remains robust across BFS, Insurance, TMT, Logistics, and Healthcare verticals.
  • Pipeline growth indicates a high propensity for originating, qualifying, and closing deals.
  • Ongoing focus on converting pipeline to TCV and then TCV to revenue.
  • Large deals won have varied ramp-up periods, with some already contributing in Q1.

2 more points from Mphasis Ltd's call on order book

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Mphasis Ltd — Quarterly revenue & net profit

Revenue Net profit
Dec 2024Q3 FY25
Mar 2025Q4 FY25
Jun 2025Q1 FY26
Sep 2025Q2 FY26
Dec 2025Q3 FY26
Mar 2026Q4 FY26

Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹4.2K Cr, net profit ₹510 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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What Mphasis's management said in earlier quarters

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Frequently Asked Questions

What were Mphasis Ltd Q1 FY26 results?

Mphasis expects to grow at approximately 2X the industry growth for FY26, based on strong Q1 performance and steady ramp-up of large deals. Mphasis expects FY26 to achieve approximately 2x industry growth, building on Q1 performance and steady ramp-up of large deals.

What is Mphasis Ltd share price analysis?

Mphasis Ltd currently shows a neutral. The stock trades at a P/E of 25.1 with a market cap of ₹48,578 Cr. Investors should review the full earnings analysis for detailed insights.

Is Mphasis Ltd planning capital expenditure?

Strategic minority investment of $4 million for a 26% stake in 'Aokah,' a GCC advisory firm set up by the ex-founder of the Neo Group.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.