Mphasis Limited · NSE:MPHASIS
Mphasis — Q2 FY2027 Earnings Presentation
16 slides from Mphasis's earnings presentation, Nov 5, 2026
Slide 1: Cover letter to stock exchanges: presentation for investors/analysts call
Docusign Envelope ID: C9CBA94E-CC0A-87B4-80EE-E5118E0CAD55 November 5, 2026 The Manager, Listing The Manager, Listing BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Plot No. C/1, Dalal Street, G-Block, Bandra-Kurla Complex, Mumbai - 400 001 Mumbai – 4
Slide 2: Enterprise Agency: Early Execution, Building Momentum
Docusign Envelope ID: C9CBA94E-CC0A-87B4-80EE-E5118E0CAD55 Enterprise Agency: Early Execution, Building Momentum Nitin Rakesh Aravind Viswanathan CEO & Managing Director CFO November 2026
Slide 3: Safe Harbor
Docusign Envelope ID: C9CBA94E-CC0A-87B4-80EE-E5118E0CAD55 Safe Harbor Certain statements mentioned in this presentation concerning our future growth prospects are forward looking statements (the “Forward Statements”) and are based on reasonable expectations of the management, which involves a numbe
Slide 4: Our Thesis: From AI Adoption to Economic Outcomes
Docusign Envelope ID: C9CBA94E-CC0A-87B4-80EE-E5118E0CAD55 Our Thesis: From AI Adoption to Economic Outcomes ISG: State of Enterprise AI* Mphasis Positioning Close the Agency Gap AI Is Everywhere Except Outcomes → Move beyond AI adoption to governed, autonomous decision-making that delivers measurab
Slide 5: Doubling Down on AI
Doubling Down on AI Mphasis Tria momentum continues Docusign Envelope ID: C9CBA94E-CC0A-87B4-80EE-E5118E0CAD55 Doubling Down on AI Mphasis Tria momentum continues 71% 69% 69% 69% 70% 68% AI momentum continues 65% 55% AI Led Pipeline 3X Pipeline 35% TCV Wins (in USD Mn) 30% 25% 760 12% 13% 528 X 428
Slide 6: Broad-Based Pipeline Across Verticals, Deal Size, and Archetypes
Docusign Envelope ID: C9CBA94E-CC0A-87B4-80EE-E5118E0CAD55 Broad-Based Pipeline Across Verticals, Deal Size, and Archetypes 23% 4.4% 23% $9,256 Mn 9% $7,533 Mn 21% Data 9% 4.8% 18% Modernization 16% 11% Non-BFS $20 Mn+ 2% IT Value Stream Acceleration 21% 15% Security 5% Next Ops 9% 17% XaaP 12% 4.1%
Slide 7: Strong Broad-based TCV Wins: 66% AI-led
Docusign Envelope ID: C9CBA94E-CC0A-87B4-80EE-E5118E0CAD55 Strong Broad-based TCV Wins: 66% AI-led Net TCV Wins ($Mn) Trailing Twelve Month: < $20Mn TCV 26% 528 428 461 466 407 Q2FY26 Q3FY26 Q4FY26 Q1FY27 Q2FY27 • Quarterly TCV: $466 Mn TTM-1 TTM • TTM TCV: $1.8 Bn • Five large deals in Q2FY27 • Sho
Slide 8: Q2FY27 Revenue Performance by Segment
Q2FY27 Revenue Performance by Segment Docusign Envelope ID: C9CBA94E-CC0A-87B4-80EE-E5118E0CAD55 Q2FY27 Revenue Performance by Segment 471 486 471 486 445 445 Direct Direct Direct Direct YoY YoY QoQ QoQ 12.4% 3.1% 356 368 14.4% 3.7% 402 413 APPS 327 Americas 372 -9.0% -3.3% BPO 66 74 79 18.7% 6.6% E
Slide 9: Q2FY27 Performance by Vertical
Q2FY27 Performance by Vertical Docusign Envelope ID: C9CBA94E-CC0A-87B4-80EE-E5118E0CAD55 Q2FY27 Performance by Vertical 471 486 445 Direct YoY Direct QoQ 15.0% 4.5% 248 259 Banking & Financial Services 228 Insurance 71 14.7% 1.8% 62 70 TMT 14.5% 10.9% 86 86 94 Logistics & Transportation -27.8% -12.
Slide 10: Client Pyramid Performance: Direct
Client Pyramid Performance: Direct Docusign Envelope ID: C9CBA94E-CC0A-87B4-80EE-E5118E0CAD55 Client Pyramid Performance: Direct QoQ & YoY Additions in multiple client bands Client Additions Category YoY QoQ 139 Top Client Metrics YoY* Top Client Metrics QoQ* 136 $200Mn+ - - 133 $150Mn+ - - • Top 1-
Slide 11: Financial Metrics: Quarterly Performance
Docusign Envelope ID: C9CBA94E-CC0A-87B4-80EE-E5118E0CAD55 Financial Metrics: Quarterly Performance Revenue Trend Operating Margin Trend +3.3% 486 471 445 15.3% 14.8% 14.8% Q2FY26 Q1FY27 Q2FY27 Q2FY26 Q1FY27 Q2FY27 Gross Revenue in $Mn at average USD/INR rate for respective periods # Revenue growth
Slide 12: DSO Movement
Docusign Envelope ID: C9CBA94E-CC0A-87B4-80EE-E5118E0CAD55 DSO Movement DSO in Days 113 YoY QoQ 95 89 104 +22 +13 Debtors 82 91 Debtors Contract Assets Contract Assets 7 4 9 +2 +5 Q2FY26 Q1FY27 Q2FY27 Normalized DSO for the quarter was 105 days after adjusting for $39.5 Mn of remittances initiated o
Slide 13: Q2FY27 in Summary: Broad-Based Growth and Strong TCV Wins
Q2FY27 in Summary: Broad-Based Growth and Strong TCV Wins Docusign Envelope ID: C9CBA94E-CC0A-87B4-80EE-E5118E0CAD55 Q2FY27 in Summary: Broad-Based Growth and Strong TCV Wins • Direct revenue grew 3.5% QoQ and 11.3% YoY in cc terms − BFS Direct grew 4.5% QoQ and 15.0% YoY; TMT Direct grew 10.9% QoQ
Slide 14: Positioned for continuing momentum in Q3FY27
Docusign Envelope ID: C9CBA94E-CC0A-87B4-80EE-E5118E0CAD55 Positioned for continuing momentum in Q3FY27 • H1 sets a good foundation for FY27 growth and expect H2 to continue this momentum • Continued strong pipeline, broad-based TCV wins with steady execution to revenue • Guidance for FY27 ❖ Revenue
Slide 15: Thank You!
Docusign Envelope ID: C9CBA94E-CC0A-87B4-80EE-E5118E0CAD55 Link to financial data for the past three years: https://www.mphasis.com/home/corporate/investors.html Thank You! About Mphasis At Mphasis, engineering has been in our DNA since inception. Mphasis is an AI-led, platform-driven company with h
Slide 16: Analyst Recognitions: Q2 FY27
Docusign Envelope ID: C9CBA94E-CC0A-87B4-80EE-E5118E0CAD55 Analyst Recognitions: Q2 FY27 © Mphasis 2026 Proprietary and confidential information 15