Tech Mahindra Limited · NSE:TECHM
Tech Mahindra — Q1 FY27 Earnings Presentation
22 slides from Tech Mahindra's earnings presentation, July 2026
Slide 1: Earnings Presentation Q1 FY27
Earnings Presentation Q1 FY27 1
Slide 2: 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 3: Q1 FY27 – At a Glance
Q1 FY27 – At a Glance Revenue $ 1,660 Mn EBIT 14.4% A Promise of TM Scale at Speed PAT Margin 9.3% FCF $ 167 Mn New Deal Wins $ 1,078 Mn 3
Slide 4: Management Commentary
Management Commentary YoY growth of 6.1% coupled with three consecutive We delivered a strong Q1 performance with broad- quarters of deal wins exceeding $ 1 billion dollars based growth, margin expansion, and disciplined underscores the resilience of our business and the working capital management,
Slide 5: Strategic Highlights
Strategic Highlights Business Updates Awards − Acquired Avant Techno Solutions, a Canada-based firm − Recognized by TIME magazine as one of the World’s Most specializing in payments modernization and wealth platforms. The Sustainable Companies of 2026 and ranked No. 1 among Indian acquisition is exp
Slide 6: Financial Highlights – Q1 FY27
Financial Highlights – Q1 FY27 Revenue Cashflow • USD Revenue $1,660 millions, up 2.2% QoQ and 6.1% YoY • Free Cash Flow $ 167 Mn, up 94% YoY • Revenue (constant currency), up 2.6% QoQ and 6.6% YoY • Free Cash Flow to PAT is 108% • INR Revenue ₹15,712 crores, up 4.2% QoQ and 17.7% YoY • IT segment u
Slide 7: Financial Trends
Financial Trends Revenue (USD Mn) LTM Deal Wins (USD Mn) 1,660 4,063 3,794 3,518 1,625 3,168 1,610 2,955 1,586 1,564 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Earnings Before Interest & Taxes (EBIT %) Return of Capital Employed (ROCE) 28.3% 13.8% 14.4% 13.1% 26.
Slide 8: Geography-wise and Vertical-wise performance
Geography-wise and Vertical-wise performance Q1 FY27 Geographies % Mix QoQ YoY Americas 48.6% -0.1% 4.8% Europe 27.5% 8.1% 12.1% ROW 23.9% 0.6% 2.5% Q1 FY27 Verticals % Mix QoQ YoY Communications 32.3% -1.3% 1.3% Manufacturing 19.3% 9.0% 17.2% BFSI 16.7% 2.7% 8.1% Technology, Media and Entertainment
Slide 9: Client Metrics
Client Metrics Number of Clients Q1 FY26 Q4 FY26 Q1 FY27 ≥ $1 million clients 529 512 499 ≥ $5 million clients 193 194 194 ≥ $10 million clients 108 112 115 ≥ $20 million clients 60 66 66 ≥ $50 million clients 26 29 33 Client Concentration Q1 FY26 Q4 FY26 Q1 FY27 Top 5 15.6% 14.9% 14.7% Top 10 25.2%
Slide 10: People Highlights
People Highlights Total Headcount Q1 FY26 Q4 FY26 Q1 FY27 IT 79,987 75,377 74,689 BPS 60,278 64,330 64,080 Sales & Support 8,252 7,916 7,991 IT Headcount mix Q1 FY26 Q4 FY26 Q1 FY27 Onsite 21.4% 22.2% 22.5% Offshore 78.6% 77.8% 77.5% IT Utilization & Attrition Q1 FY26 Q4 FY26 Q1 FY27 Utilization % 8
Slide 11: Cash Flow Metrics
Cash Flow Metrics Cash Conversion Q1 FY26 Q4 FY26 Q1 FY27 Days Sales Outstanding 95 89 84 Free Cash Flow (USD Mn) 86 99 167 Free Cash Flow to PAT % 65% 68% 108% USD/INR Rate Q1 FY26 Q4 FY26 Q1 FY27 Period Closing Rate 85.8 94.8 94.5 Period Average Rate 85.3 92.6 94.6 Cash & Borrowings (USD Mn) Q1 FY
Slide 12: Helix – AI Delivered Right
AI Delivered Right Sales & marketing Helix Talent Commercial Reinvent model the core Build Industry the new use cases Partnership ecosystem R&D and platform 12
Slide 13: Helix is our enterprise-wide response to the AI market reset
AI Delivered Right INDUSTRY USE CASES Turning our industry depth into scaled, client-ready AI value across five verticals. PARTNERSHIP ECOSYSTEM Deepening alliances with strategic and niche players to accelerate AI revenue. Helix is our R&D AND PLATFORMS Making Orion our default AI sandbox and takin
Slide 14: Helix in Action
AI Delivered Right Building AI Building the New Recognitions Capability and • Agentic Development & Modernization • Google Cloud Partner of the Year 2026 Services (ADMS) launched to integrate (Manufacturing): Recognized for Market Credibility agentic AI across the application lifecycle, production-s
Slide 15: Key AI Deal Wins
Key AI Deal Wins – Selected by a global professional services firm to build an AI orchestration – Selected by a European manufacturing enterprise to implement AI- layer enabling multi-agent systems to collaborate, delegate, reason, and act driven DevOps and modernize enterprise delivery and operatio
Slide 16: Deal-Win Performance
Deal-Win Performance Total TCV Q1 FY27: $ 1,078 Mn − Selected by a leading global payments technology company as a preferred − Selected by a leading New Zealand Telecom Operator as their strategic technology partner to support its next-generation product and program partner for a 5-year technology a
Slide 17: Other Highlights
Other Highlights New Launches, Partnerships & Collaborations Announced a partnership with Perplexity to embed AI-powered intelligence Announced a collaboration with Microsoft to showcase an advanced Network across its sales organization. Through the deployment of Perplexity Digital Twin solution. Th
Slide 18: Analyst Recognitions
Analyst Recognitions – Leader - ‘ISG’s Provider Lens® evaluation for Insurance Services - ITO Services – Nelson Hall Salesforce Services NEAT 2026 Overall –Leaders - 2026 - Global – Nelson Hall Salesforce Services NEAT 2026 - Salesforce Industries Services - – Leader - ‘ISG’s Provider Lens® evaluati
Slide 19: Awards
Awards Recognized as one of the World’s Received Gold Sustainability rating in Felicitated as one of the Most Most Sustainable Companies of EcoVadis with 86 score and 98th Innovative Organizations by ET Edge 2026 by TIME magazine and ranked percentile No. 1 among Indian companies Emerged as the winn
Slide 20: Quarterly Financial Statement
Quarterly Financial Statement in USD millions Q1 FY27 QoQ YoY Revenue 1,660 2.2% 6.1% Direct Cost 1,155 Gross Profit 505 0.6% 12.8% SG&A 216 EBIT 238 7.1% 38.6% EBIT % 14.4% ~60 bps ~330 bps Other Income, net (23) Miscellaneous + Interest Income, net (0) Exchange Gain / (Loss) (23) Profit After Tax
Slide 21: About Tech Mahindra
About Tech Mahindra Tech Mahindra (NSE: TECHM, BSE: 532755) offers technology consulting and digital solutions to global enterprises across industries, enabling transformative scale at unparalleled speed. With 146,000+ professionals across 90 countries, Tech Mahindra provides a full spectrum of serv
Slide 22: 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