Mumbai ,
January 2026.
Tech Mahindra (NSE: TECHM), a leading
global provider of technology consulting and digital solutions to enterprises
across industries announced the audited consolidated financial results for the
quarter ended December 31, 2025.
|
Financial
highlights for the quarter (USD)
|
- Revenue USD 1,610 mn
- up 1.5% QoQ, up 2.7% YoY in
reported terms
- up 1.7% QoQ, up 1.3% YoY in
constant currency terms
- EBIT USD 211 mn; up 10.0%
QoQ, up 32.8% YoY
- EBIT Margin 13.1%, up ~100
bps QoQ, up ~290 bps YoY
- Profit After Tax (PAT) USD
125 mn; up 8.3% YoY; Operational PAT* up 27.9% YoY
- Profit After Tax (PAT) Margin
7.8%, up 40 bps YoY, Operational PAT* margin up ~180 bps YoY
- Free cash flow USD 194 mn
- New deal wins TCV USD 1,096
mn; up 47.0% YoY and up 34.3% QoQ
|
|
Financial
highlights for the quarter (₹)
|
- Revenue ₹ 14,393 crores; up
2.8% QoQ, up 8.3% YoY
- EBIT ₹ 1,892 crores; up 11.3%
QoQ, up 40.1% YoY
- Profit After Tax (PAT) ₹
1,122 crores; up 14.1% YoY; Operational PAT* up 34.9% YoY
- Diluted Earnings per share
(EPS) at ₹ 12.64
|
|
Other Highlights
|
|
- Total headcount at 149,616;
down 872 YoY
- LTM IT attrition at 12.3%
- Days of Sales Outstanding 90
days
- Cash and Cash Equivalent at
the end of the quarter ₹ 7,666 crores
|
|
Mohit
Joshi, CEO and Managing Director, Tech Mahindra, said,
“Our
deal wins on an LTM basis are the highest we have achieved in the past five
years, reflecting an improved deal-win run-rate over the past several quarters.
The momentum is a testament to our sustained investments in sales,
solution-oriented go-to-market approach and the growing relevance of our AI-led
offerings in addressing client needs. Together, these efforts are laying a
strong foundation for long-term value creation”
Rohit
Anand, Chief Financial Officer, Tech Mahindra, said,
“This
quarter reflects a well-rounded financial performance, marked by ninth
consecutive quarter of margin expansion and continued strength in cash
generation. A sustained focus on working capital discipline has led to improved
cash flows and a meaningful improvement in DSO, driven by consistent execution.
We remain on track in our progress toward our FY27 goals”
- Selected by a leading European
telecommunications services provider for modernization of applications
across CIO and CTO domains, aimed at accelerating innovation,
strengthening digital resilience, and delivering AI-led operational
efficiencies. Leveraging Tech Mahindra’s deep domain expertise and proven
transformation capabilities, this engagement reinforces our leadership in
the telecommunications vertical and underscores our commitment to driving
long-term, predictable growth through strategic transformations.
- Selected by a global HCM (human
capital management) SaaS company to provide implementation and customer
support services across its product portfolio. This engagement leverages
Tech Mahindra’s HCM and CX Centers of Excellence, along with capabilities
in AI, automation, solution configuration, and data integration, to drive
greater efficiency, scalability, and innovation—resulting in enhanced
customer experience and optimized cost.
- Selected by a leading European
aerospace manufacturer as a strategic partner to provide support
engineering across all aircraft programs. The service includes an
end-to-end capability for aircraft operators and MRO. Leveraging Tech
Mahindra’s deep expertise in aeronautics and strong delivery capabilities,
this collaboration will ensure comprehensive support engineering across
all aircraft programs.
- Selected by a leading US-based
communications provider to lead its transformation and system integration
initiatives. This strategic engagement focuses on consolidating operations
under a single trusted partner, modernizing legacy systems, and reducing
technical debt through automation and best practices. Leveraging Tech
Mahindra’s proven delivery excellence and deep expertise, this
collaboration will drive cost optimization, accelerate growth, and enable
scalable talent deployment through a core-flex model.
- Selected by US based healthcare
provider as a strategic partner to lead its enterprise digital
transformation. This engagement includes optimization, simplification,
cloud migration and transformation to unified tech stack to deliver better
experience, cost savings and business transformation in a managed services
environment.
- Selected by a leading US based
banking institution as a strategic partner to modernize its
enterprise-wide payment platform incorporating real-time rail capabilities
across markets, cash management and wealth management, leveraging Tech
Mahindra’s Center of Excellence to deliver complex, large-scale
transformation with continuity and validates our focus on deep-domain,
high-value, mission-critical banking platforms.
- Partnered with Google to
accelerate enterprise adoption of Gemini Enterprise leveraging Gemini 2.5
multimodal models. Driving human-centered innovation to scale AI adoption
across global enterprises.
- Achieved AWS Generative AI
(GenAI) Competency, demonstrating expertise in advancing services, tools,
and infrastructure critical for implementing generative AI technologies.
- Launched i.GreenFinance, an
advanced sustainable lending platform designed to transform the
origination, evaluation and management of green and sustainability-linked
loans for financial institutions worldwide.
- Supporting clients move from AI
experimentation to execution at Scale - Business, Experience, Process
& Operation Transformation, IT Build & Change and IT Ops &
Assurance.
- AI becoming a core growth and
execution engine across large enterprise engagements.
- Shift from pilots to scaled,
multi-year programs embedded into client operating models.
- Indian AI Mission:
- Develop Large Language Model
(LLM) for Education - The focus is on enabling inclusive AI for India,
with capabilities optimized for educational use cases.
- Localize TechM Orion in Hindi
- By making Orion available in Hindi, we empower India to leverage Orion
as multiple players build LLMs. This ensures wider adoption and
accessibility across the nation.
- Tech Mahindra has signed MoU
with The University of Texas at Dallas, a leading institution in Computer
Science, AI and Cyber security for AI-led innovation, skill development,
and research. Tech Mahindra will also launch its first Makers Lab in the
US at Dallas, focusing on pushing the boundaries of Artificial
Intelligence (AI), Data Science, Generative AI (GenAI), Agentic AI,
Quantum Computing, Cybersecurity, and Cognitive Network Innovation.
- Tech Mahindra has signed a
Memorandum of Understanding (MOU) with Strangeworks, a leading quantum
computing software company, to deliver quantum and quantum-inspired
optimization solutions across key sectors, including finance,
pharmaceuticals, supply chain management, logistics, insurance, and
energy. The focus is on solving complex quantum optimization challenges,
including scalability that requires significant computing power and a
multitude of variables.
- Tech Mahindra and
DeutschesForschungszentrum für KünstlicheIntelligenz GmbH (DFKI), German
Research Center for Artificial Intelligence, announced a collaboration to
co-innovate and co-create next-generation smart factory solutions. The
collaboration will also focus on skill-based manufacturing and
distributed, networked ecosystems, laying the foundation for the factories
of the future.
- Tech Mahindra and Arviem, a
global leader in real-time cargo monitoring and supply chain visibility
solutions, announced a partnership to develop and deploy intelligent IoT
architectures and analytics-driven supply chain visibility solutions
designed to increase operational transparency, and drive measurable
business value for global enterprises.
- Recognised as a Global
Sustainability Leader in the S&P Global’s Dow Jones Sustainability
Index (DJSI).
- Rated “A” for both CDP (Carbon
Disclosure Project) Climate Change and CDP Water Stewardship 2025.
- Received Best Brands 2025 award
at the ET NOW Best Brands Conclave by ET Edge.
- AWS Partner of the Year Award -
Telecom, Media & Entertainment, 2025.
- Won an ISG Paragon Award for
Innovation in the inaugural 2025 ISG Paragon Awards™ Asia.
- Oracle Global Service Partner
Tech/Cloud OCI Breakthrough Award.
- Winners of POSH &
Compliance at HR Association of India Awards 2025.
- Won Gold in Excellence in Brand
Identity and Silver in Excellence in Thought Leadership at the Financial
Express Brandwagon - Ace Awards 2025
|
Analyst
Ratings & Recognitions
|
- Horizon 3 - Market Leaders -
HFS Horizons: Legacy Application Modernization Services, 2025 by HFS
- Leader - Telecom, Media and
Entertainment Industry Services and Solutions 2025-Strategy and Enablement
Services- North America, EMEA by ISG
- Leader - Telecom, Media and
Entertainment Industry Services and Solutions 2025-Telecom - Managed and
Next-gen IT Services- North America, EMEA by ISG
- Leader - Telecom, Media and
Entertainment Industry Services and Solutions 2025-Media and Entertainment
- Managed and Next-gen IT Services- North America by ISG
- Leader (Star Performer) -
Banking IT Services, PEAK Matrix® Assessment 2025 by Everest Group
- Leader-(Star Performer) -
Payments IT Services PEAK Matrix® Assessment 2025 by Everest Group
- Leader (Star Performer) -
Banking Operations - Services PEAK Matrix® Assessment 2025 by Everest
Group
- Leader - Insurance Services -
Strategic Capabilities 2025-Insurance GCC CaaS
Setup-Run-Optimize-Transform-Transfer- Global by ISG
- Leader - Insurance Services -
Strategic Capabilities 2025-Insurance Digital Engineering Services- Global
by ISG
- Leader - Intelligent Automation
Services 2025 -Artificial Intelligence for IT Operations (AIOps) - US,
Europe by ISG
- Leader - Intelligent Automation
Services 2025-Intelligent Enterprise Automation- US by ISG
- Leader - Intelligent Automation
Services 2025 -Next-Gen Automation-US by ISG
- Leader - Advanced Analytics and
AI Services 2025-Data Science & AI Services (Large)- US by ISG
- Leader - Advanced Analytics and
AI Services 2025-Data & Analytics Modernization Services (Large)- US
by ISG
- Leader - Multi Public Cloud
Services 2025 -Consulting and Transformation Services - Midmarket-
Nordics, UK by ISG
- Leader - Multi Public Cloud
Services 2025-Managed Services - Midmarket- Nordics, UK by ISG
- Leader (Star Performer) - Data
and Analytics (D&A) Services PEAK Matrix® Assessment 2025 by Everest
Group
- Leader - Oracle Cloud &
Technology Ecosystem -2025-Professional Services- APAC, Europe by ISG
- Leader - Oracle Cloud &
Technology Ecosystem -2025-Managed Services- APAC, Europe by ISG
- Leader - Oracle Cloud &
Technology Ecosystem -2025-OCI Solutions and Capabilities- APAC by ISG
- Leader - Healthcare Digital
Services 2025-Provider Digital Transformation – US by ISG