Mphasis Q1 FY27 Results & Concall Highlights: Revenue, Margins & Order Book
Published 25 Aug 2026 | IT - Software | Market Cap: ₹46.4K Cr
Q2 FY27 is positioned to deliver the best sequential constant currency growth in three years. Q2 FY27 is positioned to deliver the best sequential constant currency growth in three years.
From Mphasis's Q1 FY27 earnings-call transcript · updated 25 Aug 2026.
Price
₹2,408
Market Cap
₹46.4K Cr
P/E Ratio
24.0
Revenue Rank
Margin Rank
How does Mphasis rank in IT - Software?
Compare Mphasis against every IT - Software company this quarter on revenue, margins and earnings-call signals.
Mphasis — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹4.2K Cr, net profit ₹510 Cr.
Full financials →📊 Revenue & Sales Performance
Rank 4- →Q2 FY27 is positioned to deliver the best sequential constant currency growth in three years.
- →FY27 guidance maintained at high single-digit to low double-digit revenue growth in constant currency.
- →Pipeline at an all-time high, with net new TCV for Q1 at $461 million, marking the fifth consecutive quarter above $400 million.
- →63% of Q1 TCV wins were AI-led, indicating strong growth in AI-driven deals.
- →BFS segment shows stable and consistent growth with over 3.5% compound quarterly growth rate across eight quarters.
- →Insurance is expected to be a key growth driver through FY27 despite some recent sequential dips.
- →Americas remain the primary growth engine with strong sequential and YoY growth.
- →Platform-led growth model, particularly Mphasis Tria, is accelerating deal conversions, enhancing revenue visibility.
- →New addresses and expanded wallet share from AI and platform-led solutions suggest sustainable growth momentum.
📈 Profitability & Margins
Rank 3- →Q2 FY27 is positioned to deliver the best sequential constant currency growth in three years.
- →FY27 guidance maintained for high single-digit to low double-digit revenue growth.
- →EBIT margin targeted within the band of 14.75% to 15.75%, balancing investments and profitability.
- →Q1 FY27 EBIT margin down 60 bps due to ramp-up costs and acquisition expenses; expected normalization over the year.
- →Operating cash flow for Q1 was USD 39 million.
- →Margin pressures partly due to TAP acquisition earn-out impacting P&L; earn-out impacts expected to continue in next couple of years.
- →Growth initiatives and platform capacity investments aimed to pay off and support margin expansion over next 2-3 quarters.
- →EPS in Q1 decreased 4% sequentially to INR 25.6; future EPS growth linked to successful ramp of new deals and platform adoption.
🏗️ Capital Expenditure Plans
Yes- →Certain large deals won have necessitated capital investment spread over 12 to 18 months, impacting near-term cash flow (FY27).
- →These investments are linked to transitioning into large deals, managed services, and outcome-based contracts.
- →Capital investment upfront is not always immediate but occurs gradually as part of deal execution.
- →Once stabilized, these deals begin generating incremental cash, recovering initial investments.
- →The company expects normalization of capital investment impact starting FY28.
- →No significant transaction-related acquisition costs incurred recently, indicating disciplined capital deployment.
- →Investments are focused on supporting AI deployment models and platform adoption rather than competing on pricing.
- →Investments also include building AI stacks, including small language models (SLMs), governance layers, and related capabilities to enable scalable enterprise AI adoption.
💰 Fundraising & Capital Structure
No information📋 Order Book & Pipeline
Yes- →Total pipeline grew 8% sequentially and 28% YoY.
- →Non-BFS pipeline grew 18% sequentially.
- →Large deals pipeline (> $20 million) grew 10% sequentially.
- →BFS pipeline grew 100% YoY, showing strong financial services positioning.
- →Net new TCV for the quarter was $461 million, with trailing-twelve-month TCV over $1.8 billion.
- →Closed three large deals in Q1, including one exceeding $100 million.
- →63% of Q1 TCV wins were AI-led.
- →The TCV-to-revenue conversion pace remained steady.
- →Backlog strength from prior quarters supports in-quarter revenue.
- →Q2 outlook baked in consolidation of Red Oak contract expected to start end-August.
- →Pipeline reflects a broad-based platform-led growth across verticals and solution archetypes.
Key Metrics
Revenue
Margin
Capex
Fundraise
Order Book
Frequently Asked Questions
What were Mphasis Q1 FY27 results?
Q2 FY27 is positioned to deliver the best sequential constant currency growth in three years. Q2 FY27 is positioned to deliver the best sequential constant currency growth in three years.
What is Mphasis share price analysis?
Mphasis currently shows a neutral. The stock trades at a P/E of 24.0 with a market cap of ₹46,383 Cr. Investors should review the full earnings analysis for detailed insights.
Is Mphasis planning capital expenditure?
Certain large deals won have necessitated capital investment spread over 12 to 18 months, impacting near-term cash flow (FY27).
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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.