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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Mastek
Mastek (MASTEK) investor relations material
Mastek Q2 26/27 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 26/27 earnings summary26 Oct, 2026
Executive summary
Q2FY27 revenue was ₹1,018.7 crore, up 3.4% QoQ and 8.3% YoY; USD revenue was $107.3M, up 2.4% QoQ and down 0.8% YoY.
12-month backlog was $286.2M, down 7.7% QoQ and up 2.3% YoY in USD; delayed starts and slower client consumption weighed on conversion.
Deal activity reached 53 new wins; 53 AI orders represented ~45% of the order book, with a Q2 AI order book of $41.3M.
H1 revenue was ₹2,003.9 crore, up 8.0% YoY; operating EBITDA rose 4.9% to ₹298.3 crore and PAT rose 11.6% to ₹211.5 crore.
Financial highlights
Q2 PAT was ₹105.7 crore, down 0.2% QoQ and up 8.4% YoY; PAT margin was 10.3%.
Operating EBITDA was ₹146.2 crore, down 3.9% QoQ and 0.1% YoY; margin was 14.4%, down 109 bps QoQ and 121 bps YoY.
Increments and ESOP costs had a combined 190 bps margin impact, partly offset by AI efficiencies and additional working days.
Q2 profit before exceptional items and tax was ₹130.74 crore; total comprehensive income was ₹131.30 crore.
More than $120M was collected in Q2; DSO fell one day to 74.
Outlook and guidance
Management expects FY27 to outperform FY26 and H2 to remain positive, while citing Middle East and geopolitical uncertainty.
North America is expected to see a meaningful growth turnaround from H2; healthcare and life sciences may recover as delayed UK contract work progresses.
Medium-term aim is to recover at least 160 bps of margin and return toward 16%; timing depends on macro conditions and UK localization requirements.
Data and AI revenue and related performance metrics are planned for disclosure next quarter.
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Latest events from Mastek
- FY24 revenue and backlog grew, while operating margins narrowed and FY25 priorities sharpened.MASTEK
Q4 23/24 - 45% consolidated revenue growth was offset by Asia Pacific losses and exceptional charges.MASTEKQ4 97/98
- Revenue rose 65%, led by US and Europe, while receivables and regional weakness weighed on execution.MASTEKQ4 98/99
- Revenue rose 53% and profit 205%, while a major US client reduction pressured Q4 results.MASTEKQ4 99/00
- Revenue growth slowed to 3% as profits fell; Europe offset US weakness.MASTEKQ4 00/01
- Revenue rose 12%, profits surged, and strategic accounts offset a difficult IT market.MASTEKQ4 01/02
- Revenue rose 30%, while utilization and selling costs squeezed operating margins.MASTEKQ4 02/03
- Revenue grew 8%, profits fell, and a record backlog strengthened the FY05 outlook.MASTEKQ4 03/04
- Record FY05 profit growth, led by UK strength and insurance expansion.MASTEKQ4 04/05
- Revenue and profit grew strongly as government and insurance led strategy; concentration risks persisted.MASTEKQ4 05/06
Next Mastek earnings date
Q3 26/2731 Jan, 2027
Mastek
Next Mastek earnings date
Q3 26/2731 Jan, 2027
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Frequently asked questions
Mastek Limited is an Indian IT solutions provider offering digital transformation and enterprise technology services. The company delivers consulting, cloud services, application development, and data analytics solutions to businesses across industries including healthcare, government, financial services, and retail. Mastek operates globally, serving public and private sector clients with a focus on agile delivery and system modernization. The company is headquartered in Mumbai, India, and its shares are listed on the NSE.