Tech Mahindra Ltd
Tech Mahindra Q2 FY27 earnings call: Revenue & Margins
Q2 FY27 earnings call: what management guided on revenue, margins and order book.
Based on our transcription of the Q2 FY27 call recording. The company has not filed its transcript yet; this page will switch to it when it does.
What the Q2 FY27 call signalled
1 of 2 strong
The short version
Growth is primarily driven by deeper wallet share within existing strategic accounts, especially those with revenues over $20 million, which grew 11.7% YoY and 3.1% QoQ. The company is focused on sustaining and accelerating growth, aiming to outperform peer groups.
From Tech Mahindra Ltd's Q2 FY27 earnings-call transcript · updated 16 Oct 2026.
Revenue & Sales Performance
- Growth is primarily driven by deeper wallet share within existing strategic accounts, especially those with revenues over $20 million, which grew 11.7% YoY and 3.1% QoQ.
- Broad-based growth is seen across verticals including retail (9.5% YoY), BFSI (5.4% YoY), manufacturing, and digital enterprise applications (13% YoY).
- Focus on AI-driven tools and industry transformation roadmaps aims to sustain above-industry average growth across service lines.
- Quantum computing initiatives present an exciting upside opportunity over the next 3-5 years, particularly for telecom network optimization.
- Enterprise clients’ AI CapEx is a small part of overall budgets; potential reduction in hardware costs might free up budgets for services, positively impacting growth.
2 more points from Tech Mahindra Ltd's call on revenue
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Profitability & Margins
See what Tech Mahindra Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- Tech Mahindra is making strategic investments in AI-era capabilities including industry solutions and engineering abilities.
- Key initiatives:
- Zero Gravity Telco Architecture
- Consumer Agentic Experience Studio
- Established innovation hubs:
- Toronto Innovation Hub for client co-creation and AI innovation
- Engineering Experience Center for faster concept-to-commercialization of products
- Manufacturing, Communication, and GJCPG Experience Centers focused on industry-specific tech needs
- Launched Industera, a 30 billion parameter AI model developed with NVIDIA and AWS under India AI Mission.
- Introduced AI-driven skill model for workforce career progression linked to AI fluency and domain proficiency.
- No significant direct AI CapEx was indicated; enterprise client AI CapEx is a small percentage of IT budget.
2 more points from Tech Mahindra Ltd's call on capex
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Top-ranked in IT - Software
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
See what Tech Mahindra Ltd said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- Total deal wins for the quarter stand at $1,023 million.
- Last 12-month deal wins amount to $4,270 million, reflecting a 34.8% year-over-year increase.
- Deal momentum is broad-based across verticals and geographies, including communications, BFSI, manufacturing, retail, logistics, and transport.
Tech Mahindra Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹15.1K Cr, net profit ₹1.4K Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Tech Mahindra Ltd's management said in earlier quarters
- Q1 FY27 earnings call analysis →
- Q4 FY26 earnings call analysis →
- Q2 FY26 earnings call analysis →
- Q3 FY26 earnings call analysis →
- Q1 FY26 earnings call →
- Q4 FY25 earnings call →
- Q3 FY25 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
Others in IT - Software this season
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Revenue for Q2 FY27: ₹118,076 million (INR) / $1,235.2 million (USD) . Key investor presentation takeaways from LTM Ltd's Q2 FY27 investor presentation — and ho
- Wipro Ltd (Q2 FY27)
EPS for Q2 was INR 3.23, up 0.9% sequentially and 4.2% year-on-year, supported by strong cash flow generation. Key concall takeaways from Wipro Ltd's Q2 FY27…
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Frequently Asked Questions
What were Tech Mahindra Ltd Q2 FY27 results?
Growth is primarily driven by deeper wallet share within existing strategic accounts, especially those with revenues over $20 million, which grew 11.7% YoY and 3.1% QoQ. The company is focused on sustaining and accelerating growth, aiming to outperform peer groups.
What is Tech Mahindra Ltd share price analysis?
Tech Mahindra Ltd currently shows a below-average growth signal. The stock trades at a P/E of 33.0 with a market cap of ₹175,448 Cr. Investors should review the full earnings analysis for detailed insights.
Is Tech Mahindra Ltd planning capital expenditure?
Tech Mahindra is making strategic investments in AI-era capabilities including industry solutions and engineering abilities.
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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.