Tech Mahindra Limited · NSE:TECHM
Tech Mahindra — Q4 FY26 Earnings Presentation
56 slides from Tech Mahindra's earnings presentation, Apr 22, 2026
Slide 1: Outcome of Board Meeting letter to exchanges
Tech Mahindra Ltd Sharda Centre, Off Karve Road, Erandwane, Pune 411 004 Tel: +91 20 66018100 www.techmahindra.com 22nd April 2026 To, BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, 5th floor, Dalal Street, Plot No. - C/1, G Block, Mumbai - 400 001 Ba
Slide 2: Dividend, record date and AGM details
The Total Dividend for FY 2025-26, subject to approval of the Final Dividend, will be Rs. 51/- per equity share on face value of Rs. 5/- each i.e. 1020%. The Record Date for entitlement of Final Dividend, if approved by the shareholders is Friday, 3rd July, 2026. The Register of Members and Share Tr
Slide 3: Company Secretary signature and enclosures
This intimation and aforesaid information are also being uploaded on the Company’s website at https://www.techmahindra.com/investors/ Kindly take the above on record. Thanking you For Tech Mahindra Limited Digitally signed Ruchie byKhanna Ruchie Khanna 13:47:27 +05'30' Date: 2026.04.22 Ruchie Khanna
Slide 4: Independent Auditors Report - Consolidated
Embassy Golf Links Business Park B S R & Co. LLP Pebble Beach, B Block, 3rd Floor No. 13/2, off Intermediate Ring Road Chartered Accountants Bengaluru - 560 071, India Telephone: +91 80 4682 3000 Fax: +91 80 4682 3999 Independent Auditors Keport To the Board of Directors of Tech Mahindra Limited Rep
Slide 5: Independent Auditor's Report (Continued)
BSR &Co. LLP Independent Auditor’s Report (Continued) Tech Mahindra Limited Our opinion is not modified in respect of this matter. Management's and Board of Directors’/Board of Trustees’ Responsibilities for the Consolidated Annual Financial Results These consolidated annual financial results have b
Slide 6: Independent Auditor's Report (Continued)
BSR&Co. LLP Independent Auditor’s Report (Continued) Tech Mahindra Limited whether the company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls. — Evaluate the appropriateness of accounting policies used and the
Slide 7: Independent Auditor's Report (Continued)
BSR&Co. LLP Independent Auditor’s Report (Continued) Tech Mahindra Limited b. The consolidated annual financial results include the results for the quarter ended 31 March 2026 being the balancing figure between the audited figures in respect of the full financial year and the published audited year
Slide 8: List of entities in consolidated results
BSR&Co.LLP Independent Auditor’s Report (Continued) Tech Mahindra Limited List of entities included in consolidated annual financial results. Sr. No Name of component Relationship if ~ [Tech Mahindra (Americas) Inc. ~ | Subsidiary Z. Tech Mahindra Consulting Group Inc. Subsidiary - 3. - Zen3 Infosol
Slide 9: List of entities (continued)
BSR&Co. LLP Independent Auditor’s Report (Continued) Tech Mahindra Limited Sr. No Name of component - | Relationship P27, Born Digital Sdn Bhd | Subsidiary — 28. Born London Limited a | Subsidiary 29. | Tenzing Limited Subsidiary 7 f 30. Tenzing Australia Limited j | Subsidiary 31. GEOMATIC.AI PTY L
Slide 10: List of entities (continued)
BSR&Co. LLP Independent Auditor’s Report (Continued) Tech Mahindra Limited Sr. No Name of component Relationship in | | 55. Satyam Venture Japan KK ‘ | Subsidiary 56. vCustomer Philippines, Inc. | Subsidiary 57. Orchid Cybertech Services Inc : Subsidiary | 58. Tech Mahindra London Limited Subsidiary
Slide 11: List of entities (continued)
BSR&Co. LLP Independent Auditor’s Report (Continued) Tech Mahindra Limited Sr. No | Name of component er Relationship 84, Yabx Technologies Rwanda Limited Subsidiary | 85. «| Yabx Technologies Tanzania Limited 7 Subsidiary 86. —_| Yabx Technologies Uganda Limited ‘| Subsidiary - 87. Sofgen Holdings
Slide 12: List of entities (continued)
BSR&Co. LLP Independent Auditor’s Report (Continued) Tech Mahindra Limited Sr. No j Name of component Relationship 12: Leadcom Integrated Solutions Tanzania Ltd Subsidiary 113. Leadcom Integrated Solutions Rwanda Ltd Subsidiary = =I 114, Coniber S.A. ~ | Subsidiary | 115. Tech-Mahindra de Peru S.A.C
Slide 13: List of entities (continued)
BSR&Co. LLP Independent Auditor’s Report (Continued) Tech Mahindra Limited Sr. No Name of component Relationship 141. ComvivaESOP Trust | Subsidiary 142. | Signature Sil ] ‘Subsidiary aa | 143. Tech Mahindra Regional Headquarters Company Subsidiary 144. Tech Mahindra ESOP Trust Subsidiary 145. SCTM
Slide 14: Consolidated Financial Results for the quarter and year ended March 31, 2026
Tech Mahindra Limited Registered Office lo Bunder, Mumbai 400 001. Website : www.techmahindra com Email. inve: ti lechmahindra.com. CIN : L64200MH1986PLC041370 Consolidated Financial Results for the quarter and audited results for the year ended March 31, 2026 (Rs. in Million except earnings per sha
Slide 15: Segment revenue, results, assets and liabilities
Tech Mahindra Limited tered Office . Gateway Building, Apollo Bunder, Mumbai 400 001. Website : www.t Email ' investor relations@techmahindra.com. CIN : L64200MH1986PLC041 Consolidated Financial Results for the quarter and audited results for the year ended March Primary Segments The Group [Tech Mah
Slide 16: Audited Consolidated Balance Sheet
(Audited Consolidated Balance Sheet Rs. in Million] As at As at fataame March 31, 2026 March 31, 2025 ASSETS Non-Current Assets (a) Property, Plant and Equpment (b) Capital Work-in-Progress (c) Right-of-Use Asset (d) Investment Property (0) Goodwill (f) Other Intangible Assets (g) investment account
Slide 17: Audited Consolidated Statement of Cash Flow
Tech Mahindra Limited hmahindra com: Audited Consolidated Statement of Cash Flow Rs. in Year ended March 31, 2026 March 31, 2025 A) Cash Flow from Operating Activities Profit Before Tax 65,731 56,532] Adjustments for Depreciation and Amortisation Expense 18,816] 18,529} Bad debts and advance written
Slide 18: Notes to consolidated results
Tech Mahindra Limited Registered Office Gateway Building, Apollo Bunder, Mumbai 400 001. Website > www.techmahindra.com mail . investor.relations@techmahindra.com. CIN . L64200MH1986PLC041370 Consolidated Financial Results for the quarter and audited results for the year ended March 31, 2026 Notes :
Slide 19: Emphasis of Matter
Tech Mahindra Limited Registered Office - Bunder, Mumbai 400 001. Website : www techmahindra.com Email : investor.relations@techmahindra.com. CIN : L64200MH1986PLC041370 Consolidated Financial Results for the quarter and audited results for the year ended March 31, 2026 7 Emphasis of Matter The Emph
Slide 20: Independent Auditor's Report - Standalone
B S R & Embassy Golf Links Business Park Co. LLP Pebble Beach, B Block, 3rd Floor No. 13/2, off Intermediate Ring Road Chartered Accountants Bengaluru - 560 071, India Telephone: +91 80 4682 3000 Fax: +91 80 4682 3999 Independent Auditor's Report To the Board of Directors of Tech Mahindra Limited Re
Slide 21: Independent Auditor's Report (Continued)
BSR&Co.LLP Independent Auditor’s Report (Continued) Tech Mahindra Limited Management's and Board of Directors’/Board of Trustees’ Responsibilities for the Standalone Annual Financial Results These standalone annual financial results have been prepared on the basis of the standalone annual financial
Slide 22: Independent Auditor's Report (Continued)
BSR&Co. LLP Independent Auditor’s Report (Continued) Tech Mahindra Limited uncertainty exists related to events or conditions that may cast significant doubt on the appropriateness of this assumption. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor
Slide 23: Standalone Financial Results for the quarter and year ended March 31, 2026
Tech Mahindra Limited Registered Office : Gateway Building, Apollo Bunder, Mumbai 400 001. Website : www.techmahindra.com Email : investor.relations@techmahindra.com. CIN : L64200MH1986PLC041370 Standalone Financial Results for the quarter and audited results for the year ended March 31, 2026 (Rs. i
Slide 24: Audited Standalone Balance Sheet
Tech Mahindra Limited Registered Office : Gateway Building, Apollo Bunder, Mumbai 400 001. Website : www.techmahindra.com Email : investor.relations@techmahindra.com. CIN : L64200MH1986PLC041370 Standalone Financial Results for the quarter and audited results for the year ended March 31, 2026 Audite
Slide 25: Audited Standalone Statement of Cash Flows
Tech Mahindra Limited Registered Office : Gateway Building, Apollo Bunder, Mumbai 400 001. Website : www.techmahindra.com Email : investor.relations@techmahindra.com. CIN : L64200MH1986PLC041370 Standalone Financial Results for the quarter and audited results for the year ended March 31, 2026 Audite
Slide 26: Notes to standalone results
Tech Mahindra Limited Registered Office : Gateway Building, Apollo Bunder, Mumbai 400 001. Website : www.techmahindra.com Email ; investor.relations@techmahindra.com. CIN : L64200MH1986PLC041370 Standalone Financial Results for the quarter and audited results for the year ended March 31, 2026 Notes
Slide 27: Notes to standalone results (continued)
Tech Mahindra Limited Registered Office : Gateway Building, Apollo Bunder, Mumbai 400 001. Website : www.techmahindra.com Email : investor.relations@techmahindra.com. GIN : L6¢4200MH1986PLG041370 Standalone Financial Results for the quarter and audited results for the year ended March 31, 2026 6 The
Slide 28: Tech Mahindra FY26 EBIT rises to ₹7,152 crores, up 39.2% YoY
Tech Mahindra FY26 EBIT rises to ₹7,152 crores, up 39.2% YoY Declares ₹36 final dividend, taking total to ₹51 - highest ever Mumbai – April 22nd, 2026: Tech Mahindra (NSE: TECHM), a leading global provider of technology consulting and digital solutions to enterprises across industries announced the
Slide 29: Financial highlights for the quarter (₹)
Financial highlights for the quarter (₹) • Revenue ₹ 15,076 crores, up 4.7% QoQ, up 12.6 % YoY • EBIT ₹ 2,084 crores, up 10.2% QoQ, up 48.3% YoY • Profit After Tax (PAT) ₹ 1,354 crores, up 16.0% YoY • Diluted Earnings per share (EPS) at ₹ 15.24 Other Highlights • Total headcount at 147,623; down 1,1
Slide 30: Deal wins and client selections
• Selected by a leading North American automotive OEM as a strategic partner for application development and support across mission-critical enterprise systems. Leveraging capabilities in application engineering, integration, automation, AI and data enablement, this engagement will reduce technical
Slide 31: AI solutions and partnerships launched
• IndusLLM is positioned as a template to be adopted globally in Sovereign AI deployments through a successful demonstration on Intel’s next-gen Panther Lake architecture. • Launched Agentic Payment Assistance & Collections Optimization Solution for Telcos at Mobile World Congress 2026. The solution
Slide 32: Awards and analyst recognitions
• Rated A in CDP Supplier Engagement Assessment. • Secured ninth place globally in the Brand Strength Index (BSI) rankings. • Won Google Cloud Partner of the Year award for Manufacturing • Won the CIO Choice 2026 Award for delivering Mahindra & Mahindra’s enterprise-scale data and AI transformation
Slide 33: Consolidated Financial Statement for Q4 and year ended March 31, 2026
Consolidated Financial Statement for the fourth quarter and year ended March 31, 2026 drawn under Ind AS Copyright © 2026 Tech Mahindra. All rights reserved. 6
Slide 34: About Tech Mahindra
About Tech Mahindra Tech Mahindra (NSE: TECHM) offers technology consulting and digital solutions to global enterprises across industries, enabling transformative scale at unparalleled speed. With 147,000+ professionals across 90+ countries helping 1100+ clients, Tech Mahindra provides a full spectr
Slide 35: Earnings Presentation Q4 FY26 & FY 2026
Earnings Presentation Q4 FY26 & FY 2026 1
Slide 36: Safe Harbor
Safe Harbor Certain statements in this presentation may contain ‘forward-looking statements’ identified by the use of forward-looking words or phrases and statements relating to our future performance and prospects for growth in FY2027 and beyond, our ability to achieve our financial, strategic and
Slide 37: FY 2026 – At a Glance
FY 2026 – At a Glance Revenue $ 6,385 Mn EBIT 12.6% A Promise of TM Scale at Speed PAT Margin 8.5% FCF $ 616 Mn New Deal Wins $ 3,794 Mn 3
Slide 38: Management Commentary
Management Commentary We are accelerating our transition to an AI-led FY26 marked the end of the Stabilization Phase of our organization, embedding AI across services and transformation journey, with margins expanding for the expanding our capabilities to enhance value delivery 10th consecutive quar
Slide 39: Strategic Highlights
Strategic Highlights Business Updates − Closed FY26 with the highest ever deal wins of $ 3,794 Mn in the last − Launched Agentic Payment Assistance & Collections Optimization five years, reflecting stronger client confidence in Tech Mahindra’s Solution for Telcos at Mobile World Congress 2026. The s
Slide 40: Financial Highlights
Financial Highlights FY 2026 Q4 FY26 Revenue Revenue • USD Revenue $6,385 millions; up 1.9% YoY • USD Revenue $1,625 millions; up 0.9% QoQ and 4.9% YoY • Revenue (constant currency); up 0.6% YoY • Revenue (constant currency); up 0.6% QoQ and 2.4% YoY • INR Revenue ₹56,815 crores; up 7.2% YoY • INR R
Slide 41: Financial Trend
Financial Trend Revenue (USD Mn) LTM Deal Wins (USD Mn) 1,625 3,518 3,794 1,610 3,168 2,955 1,586 2,680 1,564 1,549 Q4 FY25 Q1 FY25 Q2 FY26 Q3 FY26 Q4 FY26 Q4 FY25 Q1 FY25 Q2 FY26 Q3 FY26 Q4 FY26 Earnings Before Interest & Taxes (EBIT %) Return of Capital Employed (ROCE) 26.2% 13.8% 13.1% 24.4% 12.1
Slide 42: Geography-wise and Vertical-wise Performance
Geography-wise and Vertical-wise Performance Q4 FY26 FY26 Geographies % Mix QoQ YoY % Mix YoY Americas 49.7% -0.8% 7.7% 49.8% 0.2% Europe 26.0% 2.7% 7.4% 25.8% 8.9% ROW 24.3% 2.7% -2.7% 24.4% -1.2% Q4 FY26 FY26 Verticals % Mix QoQ YoY % Mix YoY Communications 33.4% 1.8% 5.6% 33.3% 2.6% Manufacturing
Slide 43: Client Metrics
Client Metrics Number of Clients Q4 FY25 Q3 FY26 Q4 FY26 ≥ $1 million clients 540 521 512 ≥ $5 million clients 195 196 194 ≥ $10 million clients 106 111 112 ≥ $20 million clients 59 64 66 ≥ $50 million clients 25 28 29 Client Concentration Q4 FY25 Q3 FY26 Q4 FY26 Top 5 15.5% 15.2% 14.9% Top 10 24.5%
Slide 44: People Highlights
People Highlights Total Headcount Q4 FY25 Q3 FY26 Q4 FY26 IT 80,609 76,194 75,377 BPS 59,636 65,450 64,330 Sales & Support 8,486 7,972 7,916 IT Headcount mix Q4 FY25 Q3 FY26 Q4 FY26 Onsite 22.1% 22.1% 22.2% Offshore 77.9% 77.9% 77.8% IT Utilization & Attrition Q4 FY25 Q3 FY26 Q4 FY26 Utilization % 8
Slide 45: Cash Flow Metrics
Cash Flow Metrics Cash Conversion Q4 FY25 Q3 FY26 Q4 FY26 Days Sales Outstanding 88 90 89 Free Cash Flow (USD Mn) 150 194 99 Free Cash Flow to PAT % 110.7% 131%* 68% USD/INR Rate Q4 FY25 Q3 FY26 Q4 FY26 Period Closing Rate 85.5 89.9 94.8 Period Average Rate 86.5 89.4 92.6 Cash & Borrowings (USD Mn)
Slide 46: AI Delivered Right
AI Delivered Right Highlights • Supporting clients move from AI experimentation to execution at Scale - IT Build & Change; IT Ops & Assurance; Process & Operation Transformation; Experience Transformation and Business Transformation • AI becoming a core growth and execution engine across large enter
Slide 47: Key AI Deal Wins
Key AI Deal Wins – Selected by a global aerospace manufacturer to incubate AI capabilities – Engaged by a global medical technology company to deliver an within PLM operations, piloting intelligent automation and AI-assisted enterprise-wide AI enablement program, conducting executive-level engineeri
Slide 48: Deal-Win Performance
Deal-Win Performance Total TCV Q4 FY26: $ 1,073 Mn − Won a large, multi-year AI-led transformation and outsourcing − Selected by a Fortune 500 energy major as the sole strategic partner to engagement with a major European telecommunications operator, run and manage infrastructure, cloud, service des
Slide 49: Other Highlights
Other Highlights New Launches, Partnerships & Collaborations Announced a collaboration with Microsoft to launch an ontology-driven Agentic AI Announced a partnership with FICO to help BFSI organizations accelerate platform that accelerates telecom and enterprise data modernization. Built on value cr
Slide 50: Analyst Recognitions – FY26
Analyst Recognitions – FY26 – Ranked in 550 analyst evaluations in FY 26 - 35% Positioned as Leaders (#1 Ranking) - 90% Positioned in Top 2 Rankings – 30 Co-authored Papers with Analysts Highlights in FY26 – Gartner Emerging Market Quadrant for Generative AI Consulting and Implementation Services Oc
Slide 51: Awards
Awards Recognized as India’s Most Listed in the Top 1% in the IT Recognized among the Top 10 Sustainable Company at BW Services sector in the S&P Global Desirable Service Companies by Sustainable World Conclave Sustainability Yearbook 2026 Unstop & People Matters Secured ninth place globally in the
Slide 52: Quarterly Financial Statement
Quarterly Financial Statement in USD millions Q4 FY26 QoQ YoY Revenue 1,625 0.9% 4.9% Direct Cost 1,123 Gross Profit 502 2.9% 11.0% SG&A 228 EBIT 223 5.5% 36.3% EBIT % 13.8% ~70 bps ~330 bps Other Income, net (31) Miscellaneous + Interest Income, net (1) Exchange Gain / (Loss) (30) Profit After Tax
Slide 53: FY26 Financial Statement
FY26 Financial Statement in USD millions FY26 YoY Revenue 6,385 1.9% Direct Cost 4,486 Gross Profit 1,899 11.0% SG&A 890 EBIT 797 31.4% EBIT % 12.6% 290 bps Other Income, net (32) Miscellaneous + Interest Income, net 20 Exchange Gain / (Loss) (52) Profit Before Exceptional items and Tax 765 24.6% Ex
Slide 54: About Tech Mahindra
About Tech Mahindra Tech Mahindra (NSE: TECHM) offers technology consulting and digital solutions to global enterprises across industries, enabling transformative scale at unparalleled speed. With 147,000+ professionals across 90+ countries helping 1100+ clients, Tech Mahindra provides a full spectr
Slide 55: Disclaimer
Disclaimer The information is to be treated as Tech Mahindra Confidential Information. TechM provides a wide array of presentations and reports, with the contributions of various professionals. These presentations and reports may be for information purposes + + + + + + + + + + + + + + + + + and priv
Slide 56: Extract of Audited Consolidated Financial Results
Profit before exceptional items and tax for the quarter at Rs. 17,906 Mn up 22.3% over the previous year quarter Tech Mahindra Limited Registered Office : Gateway Building, Apollo Bunder, Mumbai 400 001. Website : www.techmahindra.com Email : investor.relations@techmahindra.com CIN : L64200MH1986PLC