Mphasis Limited · NSE:MPHASIS
Mphasis — Q2 FY27 Earnings Presentation
15 slides from Mphasis's earnings presentation, November 2026
Slide 1: Enterprise Agency: Early Execution, Building Momentum
Enterprise Agency: Early Execution, Building Momentum Nitin Rakesh Aravind Viswanathan CEO & Managing Director CFO November 2026
Slide 2: Safe Harbor
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 number of risks, and uncertainties that could cause actual resul
Slide 3: Our Thesis: From AI Adoption to Economic Outcomes
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 measurable economic outcomes. Unlock Business-led Investment AI Inv
Slide 4: Doubling Down on AI
Doubling Down on AI Mphasis Tria momentum continues 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 428 461 466 390 407 351 319 255 241 207 177 Q2'24 Q3'24 Q4'24 Q
Slide 5: Broad-Based Pipeline Across Verticals, Deal Size, and Archetypes
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% 35% Experience 8% 12% BFS < $20 Mn Agile IT Ops 20% 14% Q1
Slide 6: Strong Broad-based TCV Wins: 66% AI-led
Strong Broad-based TCV Wins: 66% AI-led Net TCV Wins ($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 • Shorter cycle deals continues to play out, 26% increase in <$2
Slide 7: Q2FY27 Revenue Performance by Segment
Q2FY27 Revenue Performance by Segment 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% EMEA 37 41 38 ROW 32 31 36 23.5% 16.4% ITO 52 41 39 -21.3% -
Slide 8: Q2FY27 Performance by Vertical
Q2FY27 Performance by Vertical 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% -12.0% 25 20 18 Others 44 47 44 1.8% -6.4% Q2 FY26 Q1 FY27 Q2 F
Slide 9: Client Pyramid Performance: Direct
Client Pyramid Performance: Direct 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 1-5 grew 15.1% • Top 1-5 grew 4.1% $100Mn+ - - $75Mn+ - - • T
Slide 10: Financial Metrics: Quarterly Performance
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 in constant currency EPS Trend Cash Flow Generation +14.6%
Slide 11: DSO Movement
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 on 30th September and received in October. © Mphasis 2026 Pr
Slide 12: Q2FY27 in Summary: Broad-Based Growth and Strong TCV Wins
Q2FY27 in Summary: Broad-Based Growth and Strong TCV Wins 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 − Strong sequential growth in Americas and ROW − APPS and B
Slide 13: Positioned for continuing momentum in Q3FY27
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 growth of low double-digits, despite the uncertain macro e
Slide 14: Thank You!
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 human-in-the-loop intelligence, helping global enterprises m
Slide 15: Analyst Recognitions: Q2 FY27
Analyst Recognitions: Q2 FY27 © Mphasis 2026 Proprietary and confidential information 15