Mumbai – October 15, 2026: Tech Mahindra (NSE: TECHM, BSE: 532755), a leading global provider of AI-powered technology consulting and digital solutions to global enterprises across industries announced the audited consolidated financial results for the quarter ended September 30, 2026.
Financial Highlights (USD)
Revenue $1,693 mn
up 2.0% QoQ, up 6.8% YoY in reported terms
up 2.4% QoQ, up 7.2% YoY in constant currency terms
EBIT $250 mn, up 4.9% QoQ, up 30.4% YoY
EBIT Margin 14.8%, up ~40 bps QoQ, up ~260 bps YoY
Profit After Tax (PAT) $166 mn, up 23.2% YoY
Profit After Tax (PAT) Margin 9.8%, up 130 bps YoY
New deal wins TCV $1,023 mn, up 25.4% YoY
Financial Highlights (INR)
Interim dividend declared at ₹ 15 per share
Revenue ₹ 16,180 crores; up 3.0% QoQ, up 15.6% YoY
EBIT ₹ 2,387 crores; up 5.4% QoQ, up 40.5% YoY
Profit After Tax (PAT) ₹ 1,586 crores, up 32.7% YoY
Diluted Earnings per share (EPS) at ₹ 17.84
Operational Highlights
Total headcount at 152,206
LTM IT attrition at 11.7%
Free cash flow $135 mn; Days of Sales Outstanding 88 days
Cash and Cash Equivalent at the end of the quarter ₹ 7,330 crores
Leadership Commentary
Mohit Joshi, CEO and Managing Director, Tech Mahindra
Deal wins exceeding $1+ billion in each of the last four quarters reflect the strength of our customer relationships and the trust we have built. With 7.2% year-on-year constant currency growth, we continue to sustain business momentum. As we celebrate our 40th anniversary this quarter, we look ahead with confidence, building on our legacy of innovation, entrepreneurship, and long-term value creation for our stakeholders.
Rohit Anand, Chief Financial Officer, Tech Mahindra
We delivered another strong quarter of growth, with margins expanding for the twelfth consecutive quarter, reflecting disciplined execution. We continue to invest in AI to improve productivity, drive innovation and build capabilities for future growth. The Board has recommended an interim dividend of ₹15 per share reaffirming our commitment to shareholders.
Key Deal Wins
Selected by a leading Canadian insurer as a strategic partner for an integrated Application Managed Services engagement spanning core insurance applications, vulnerability management, environment services, release engineering, and run operations. The engagement will accelerate platform modernization, improve operational efficiency, strengthen security, and enhance observability
Selected by a global logistics company to accelerate AI adoption and shape its product maturity strategy. Leveraging Tech Mahindra’s logistics domain expertise, product consulting capabilities, and lean-agile experience, the engagement will define a product maturity roadmap, prioritize high-value AI use cases, and enhance product development and logistics operations
Selected by a leading digital network business to deliver a transformative Mainframe-as-a-Service program supporting critical communications infrastructure. Leveraging Tech Mahindra’s strengths in infrastructure transformation, managed services, automation, and telecom domain expertise, the engagement will help deliver reliable connectivity services across the UK
Selected by a global enterprise software company as its preferred transformation partner to modernize and scale critical customer-facing services. Through AI-powered operations, platform expertise and an outcome-driven delivery framework, Tech Mahindra will help improve scalability, accelerate innovation, enhance customer outcomes, and drive operational efficiencies across a global ecosystem
Selected by a leading Australian telecom operator as their strategic managed services partner for a five-year engagement spanning application development, maintenance, testing, and AI
engineering services. This win reflects Tech Mahindra’s deep telecom expertise and proven experience in AI engineering services and managing mission-critical technology environments
Selected by a global leader in industrial process fluids and specialty chemicals as its strategic global workplace transformation partner. Through a unified operating model and AI-enabled workplace capabilities, Tech Mahindra will help modernize its workplace services, strengthen security, simplify integrations, and enhance employee experience globally
Selected by one of ASEAN’s leading financial institutions as a strategic partner for its wealth management platform transformation. Leveraging Tech Mahindra’s deep expertise and AI-led engineering capabilities, the program will modernize the platform, enhance client and advisor experiences, and support future growth across ASEAN wealth markets
Selected by a leading European energy company to transform contact centre operations through a multi-year engagement. Leveraging a unique delivery model and translation technology, Tech Mahindra will deliver a differentiated service model focused on operational excellence and customer experience
AI, Technology and Strategic Partnerships
Launched Zero Gravity Telco Architecture™ enabling telecom operators to reduce enterprise Gravity by addressing the architectural constraints that limit safe AI agent deployment, supporting their transition to AI-native operations
Announced a strategic partnership with SpaceXAI to build a global AI-powered software engineering practice, combining SpaceXAI’s AI-native development platform with Tech Mahindra’s engineering and transformation expertise
Partnered with I-HUB Quantum Technology Foundation to advance India’s indigenous quantum computing capabilities, strengthening Tech Mahindra’s presence in emerging technologies and next-generation computing platforms
Launched India’s foundational educational LLM Indus Terra, a 30 bn parameter model built with Nvidia and AWS, as part of India AI mission
Launched the Consumer Agentic Experience Studio (CAX Studio), enabling enterprises to explore and scale AI-led transformation across the consumer value chain, while deepening ecosystem collaboration through strategic partnerships with Google, SAP, and Blue Yonder
Announced an expansion of its agentic AI readiness through partnership with Google Cloud and scale hands-on capabilities of Google Cloud Gemini Enterprise across Tech Mahindra’s global workforce to support growing enterprise demand for production-ready AI. A key element of this expansion is ‘Build with Gemini’, a Google Cloud hands-on workshop rolled out to 12,500+ associates worldwide
Announced an expanded multi-year partnership designed to accelerate how enterprises move from AI pilots to production-scale deployments and deliver faster time-to-value with playbooks
validated via Tech Mahindra’s own ServiceNow deployment and Industry-specific solutions built on the ServiceNow AI Platform
Announced a partnership with Cisco to deliver an AI-driven Security Service Edge (SSE) offering for global enterprises. The joint offering will help enterprises reduce security complexity, improve visibility and control, deliver seamless user access, and strengthen resilience as they scale cloud, hybrid work, and AI adoption
Announced a partnership with Wandelbots to build the infrastructure for Physical AI to help manufacturers accelerate the adoption of AI-powered automation and build the factories of the future by combining Physical AI software with enterprise-grade implementation capabilities
Announced a global alliance with Rezolve Ai to accelerate the deployment of Agentic Commerce across large enterprises worldwide. Together, the companies intend to give enterprises a single path, moving AI beyond pilots and customer-service chatbots into secure experiences that understand intent, recommend products and complete transactions
Announced a partnership to co-build and deliver agentic AI solutions for enterprise clients globally. The partnership combines Uniphore’s Business AI Cloud (BAIC) platform with Tech Mahindra’s deep digital business transformation expertise and global delivery capabilities, establishing an Agentic AI Factory to accelerate AI adoption at scale
Awards and Recognition
Won first place at the National Quantum Computing Centre (NQCC) UK Quantum Hackathon 2026
Won Gold at the Stevie® International Business Award for Emerging Thought Leader of the Year
Received Best Moonshot Catalyst Award, for AI-Powered Business-Aware Assurance Solution with Google Cloud
Selected as a Digital Masters Award Winner in Avasant’s Digital Masters Process Transformation 2026 RadarView
Recognized at the 2026 Brandon Hall HCM Excellence Awards reflecting Tech Mahindra’s continued focus on talent, learning, inclusion, and workforce excellence
Won Silver in two categories at the 2026 Stevie Awards for Great Employers
Recognized as a Disability Confident Service Provider By Department for Work and Pensions (DWP) UK
Felicitated as Champions in Risk Management and Benefits Administration at PeopleFirst HR Excellence 2026
Winner in Service Excellence, Wellness, Diversity & Young Leaders at the 2026 Asia CEO awards
Recognized as one of India’s Best Tech Brands by ET Edge
Analyst and Industry Recognition
Leader – ‘ISG’s Provider Lens® evaluation for Manufacturing Industry Services and Solutions, Physical AI and Smart/Digital Factory Services, 2026, Europe
Leader – ‘ISG’s Provider Lens® evaluation for Manufacturing Industry Services and Solutions, Physical AI and Smart/Digital Factory Services, 2026, North America
Leader – ‘ISG’s Provider Lens® evaluation for Manufacturing Industry Services and Solutions, Engineering Research & Development (ER&D) Services, 2026, Europe
Leader – ‘ISG’s Provider Lens® evaluation for Manufacturing Industry Services and Solutions, Engineering Research & Development (ER&D) Services, 2026, North America
Leader – ‘ISG’s Provider Lens® evaluation for Manufacturing Industry Services and Solutions, Technology, Transformation and Consulting Services, 2026, North America
Leader – ‘ISG’s Provider Lens® evaluation for Telecom, Media and Entertainment AI-Native Transformation Services, Strategy, Monetization & AI-Native Enablement, 2026, Global
Leader – ‘ISG’s Provider Lens® evaluation for Telecom, Media and Entertainment AI-Native Transformation Services, AI Led Telco Engineering & Software Services, 2026, Global
Leader – ‘ISG’s Provider Lens® evaluation for Telecom, Media and Entertainment AI-Native Transformation Services, Satellite & Non-Terrestrial Network (NTN) Services, 2026, Global
Leader – ‘ISG’s Provider Lens® evaluation for Telecom, Media and Entertainment AI-Native Transformation Services, Autonomous Telecom IT and Business Operations, 2026, Global
Leader – ‘ISG’s Provider Lens® evaluation for AI-Driven ADM Services, Application Development Outsourcing, 2026 , U.S.
Leader – ‘ISG’s Provider Lens® evaluation for AI-Driven ADM Services, Application Managed Services, 2026 , APAC
Leader – ‘ISG’s Provider Lens® evaluation for Automotive and Mobility Services and Solutions, Autonomous Systems and Software Defined Vehicles, 2026, Europe
Leader – ‘ISG’s Provider Lens® evaluation for Automotive and Mobility Services and Solutions, Electric Vehicles and Mobility Services, 2026, North America
Leader – ‘ISG’s Provider Lens® evaluation for AI Services in Life Sciences, Life Sciences AI Consulting and Transformation Services, 2026, Global
Leader – ‘ISG’s Provider Lens® evaluation for ‘Guidewire Services Ecosystem 2026, Global
Leader – NelsonHall’s Achieving Operations Transformation Leveraging Agentic AI NEAT 2026 (Development & Use of AI Models)
Strong Leader – NelsonHall’s AI Enablement Services NEAT assessment (AI Training)
Leader -Retail Digital Services PEAK Matrix® Assessment 2026
Leader -Customer Experience Management (CXM) Services PEAK Matrix® Assessment 2026 – APAC
Leader -ARC MarketMap for Engineering Services by GSPs in India 2025
Leader -HFS Horizons: Customer Experience Services, 2026
Consolidated Financial Statements
Consolidated Financial Statement for the quarter ended September 30, 2026, drawn under Ind AS.
About Tech Mahindra:
Tech Mahindra (NSE: TECHM, BSE: 532755) offers AI-powered 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 services including consulting, information technology, enterprise applications, business process services, engineering services, network services, customer experience & design, AI & analytics, and cloud & infrastructure services. Tech Mahindra is part of the Mahindra Group, founded in 1945, one of the largest and most admired multinational federation of companies.
