Tech Mahindra Limited · NSE:TECHM
Tech Mahindra — Q1 FY26 Earnings Presentation
21 slides from Tech Mahindra's earnings presentation, Jul 16, 2025
Slide 1: Exchange filing cover letter for investor presentation
Tech Mahindra Limited Sharda Centre, Off Karve Road, Pune - 411004, Maharashtra, India Tel. +91 20 6601 8100 techmahindra.com connect@techmahindra.com CIN L64200MH1986PLCO41370 16th July, 2025 To, BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, 5th flo
Slide 2: Earnings Presentation Q1 FY26
+ > + > Earnings + + + + + + + + + + + + + + + + + + + + + + + + + + + > + > + > + + + + + + + + Presentation + + + + + + + + + + + + + + + + + + + Q1 FY26 Copyright © 2025 Tech Mahindra. All rights reserved. 1
Slide 3: 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 FY2026 and beyond, our ability to achieve our financial, strategic and
Slide 4: Q1 FY26 – At a Glance
Q1 FY26 – At a Glance Revenue $ 1,564 Mn EBIT 11.1% A Promise of PAT Margin 8.5% FCF $ 86 Mn New Deal Wins $ 809 Mn Copyright © 2025 Tech Mahindra. All rights reserved. 3
Slide 5: Management Commentary
Management Commentary Our performance is steadily strengthening, reflecting We have delivered seven consecutive quarters of margin disciplined execution and a focused strategy. Deal wins expansion - a clear reflection of the discipline and focus have increased by 44% on a last twelve months (LTM) ac
Slide 6: Strategic Highlights
Strategic Highlights Business Updates Leadership Hiring/Changes − TechM’s AI Consulting Practice enables clients to validate RoI & prioritize − Amol Phadke – Chief Transformation Officer - 25-plus years experience in use cases in a systematic and efficient manner as they evaluate their AI global tel
Slide 7: Financial Highlights
Financial Highlights Q1 FY26 Revenue Cashflow Metrics • USD Revenue of 1,564 Mn up 1.0% QoQ and up 0.4% YoY • Free Cash Flow at $86 Mn • Revenue (in cc) down 1.4 % QoQ and down 1.0% YoY • Free Cash Flow to PAT% is 111% (on LTM basis) • INR Revenue of ₹ 13,351 Cr, down 0.2% QoQ and up 2.7% YoY • IT s
Slide 8: Financial Trend
Financial Trend Revenue (USD Mn) LTM Deal Wins (USD Mn) 2,955 1,589 2,680 1,567 1,564 2,382 1,559 2,055 1,549 2,018 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Earnings Before Interest & Taxes (EBIT %) Return of Capital Employed (ROCE) 11.1% 23.8% 10.5% 22.6% 10.2
Slide 9: Geography-wise and Vertical-wise Performance
Geography-wise and Vertical-wise Performance Q1 FY26 Geographies % Mix QoQ YoY Americas 49.2% 2.6% -5.9% Europe 26.0% 3.6% 11.7% ROW 24.8% -4.5% 2.9% Q1 FY26 Verticals % Mix QoQ YoY Communications 33.8% 2.8% 2.5% Manufacturing 17.5% 4.0% -4.0% BFSI 16.4% -0.6% 4.7% Technology, Media and Entertainmen
Slide 10: Client Metrics
Client Metrics Number of Clients Q1 FY25 Q4 FY25 Q1 FY26 ≥ $1 million clients 545 540 529 ≥ $5 million clients 191 195 193 ≥ $10 million clients 113 106 108 ≥ $20 million clients 61 59 60 ≥ $50 million clients 24 25 26 Client Concentration Q1 FY25 Q4 FY25 Q1 FY26 Top 5 15.5% 15.5% 15.6% Top 10 25.1%
Slide 11: People Highlights
People Highlights Total Headcount Q1 FY25 Q4 FY25 Q1 FY26 IT 80,417 80,609 79,987 BPS 58,177 59,636 60,278 Sales & Support 9,026 8,486 8,252 IT Headcount mix Q1 FY25 Q4 FY25 Q1 FY26 Onsite 24.6% 22.1% 21.4% Offshore 75.4% 77.9% 78.6% IT Utilization and Attrition Q1 FY25 Q4 FY25 Q1 FY26 Utilization %
Slide 12: Cash Flow Metrics
Cash Flow Metrics Cash Conversion Q1 FY25 Q4 FY25 Q1 FY26 Days Sales Outstanding 93 88 95 Free Cash Flow (USD Mn) 106 150 86 Free Cash Flow to PAT % 104% 111% 65% USD/INR Rate Q1 FY25 Q4 FY25 Q1 FY26 Period Closing Rate 83.4 85.5 85.8 Period Average Rate 83.4 86.5 85.3 Cash & Borrowings (USD Mn) Q1
Slide 13: AI Delivered Right Highlights
AI delivered right Highlights • AI Delivered Right has gained strong customer traction Productivity Transformation since launch last quarter, driving multiple deal wins and delivered delivered recognition across its core pillars. Embedding AI into the core Accelerating efficiency and • TechM’s Advan
Slide 14: AI: Deal Wins
AI: Deal Wins – Selected as a Prime partner with a leading UK based Telco for a multi-service – SLM (Small Language Model) developed on the Edge for a Middle Eastern oil line deal including AI Ops monitoring network performance and automation. and gas major. – Won strategic position for scaling AI u
Slide 15: Deal-Win Performance
Deal-Win Performance Total TCV Q1 FY26: $ 809 Mn − Selected as a key ‘growth partner’ by one of US-based leading consumer − Selected by a leading global fashion apparel brand for a multi-year strategic wireless operators for its Customer Operations transformation. The engagement to provide digital a
Slide 16: Other Highlights
Other Highlights NEW LAUNCHES, PARTNERSHIPS & COLLABORATIONS Tech Mahindra announced the launch of a new Tech Mahindra was named a Red Hat Premier Tech Mahindra announced a partnership with managed services offering for Cisco Multicloud Partner globally, enabling access to technical ServiceNow to de
Slide 17: Analyst Recognitions
Analyst Recognitions – Recognised with the ISG Star of Excellence™ – 2024 award for the APAC region Mobility Services - North America, Europe, and APAC by ISG highlighting TechM’s exceptional CX performance in APAC – Leader - Automotive and Mobility Services and Solutions 2025 - Autonomous Systems –
Slide 18: Awards
Awards Awarded the ‘TM Forum Upskilling Recognized as a constituent of Included in Sustainalytics 2025 Award’ at DTW Ignite 2025 the FTSE4Good Index Series for ESG Top-Rated Companies list reaffirming TechM’s continued the 9th consecutive year and recognised as both 'Region leadership in building a
Slide 19: Financial Statement
Financial Statement in USD millions Q1 FY26 QoQ YoY Revenue 1,564 1.0% 0.4% Direct Cost 1,117 1.8% -2.5% Gross Profit 448 -1.0% 8.2% SG&A 222 -5.7% -1.9% EBIT 172 5.4% 30.2% Other Income 26 28.4% 47.4% Miscellaneous + Interest Income 22 Exchange Gain / (Loss) 3 Profit Before Tax 189 10.9% 33.5% Prov
Slide 20: About Tech Mahindra
About Tech Mahindra Tech Mahindra is a global consulting service and systems integrator that operates in over 90+ countries, delivering solutions with a unique blend of digital innovation and robust, industry-strong processes. With our promise to help our customers Scale at Speed™, we design future
Slide 21: Company Confidential | Copyright © 2023 Tech Mahindra. All rights reserved.
+ + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + > > > + + + + + + + + + + + + + + + + + + + + + + Company Confidential | Copyright © 2023 Tech Mahindra. All rights reserved. 20