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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.
Tech Mahindra
Tech Mahindra (TECHM) investor relations material
Tech Mahindra Q2 26/27 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 26/27 earnings summary15 Oct, 2026
Executive summary
Revenue was $1,693m, up 7.2% YoY in constant currency; EBIT margin reached 14.8%, extending its expansion streak to 12 quarters.
Q2 deal wins totaled $1.023bn; LTM wins reached $4.270bn, up 34.8% YoY, with wins above $1bn in each of the last four quarters.
The Board declared a ₹15 interim dividend and recommended a 1:1 bonus issue, subject to approvals.
Financial highlights
Revenue was ₹16,180 crore, up 15.6% YoY; reported USD revenue grew 6.8% YoY and 2% QoQ, while constant-currency growth was 7.2% YoY and 2.4% QoQ.
EBIT was $250m, up 30.4% YoY; INR operating profit was ₹2,387 crore, up 40.5% YoY.
PAT was $166m, up 23.2% YoY; consolidated PAT attributable to owners was ₹15,856m, with a 9.8% PAT margin.
Free cash flow was $135m and FCF to PAT was 81%; H1 consolidated operating cash flow was ₹34,697m.
Consolidated gross profit was $518m, up 12.2% YoY; diluted EPS was ₹17.84.
Outlook and guidance
FY27 EBIT margin target of 15% reiterated; management cited growth and profitable execution as priorities.
Full-year FCF to PAT target remains 90%–100%; management expects normal H2 seasonality and no unreasonable Q3 or Q4 furloughs.
Communications pipeline and visibility remain strong; U.K. and Australian engagements are expected to scale, though client concentration can cause volatility.
European auto revenue headwind is expected to be smaller sequentially in Q3, followed by normalization.
AI revenue reporting is expected to begin in H2 FY27, based on client-funded work reconciled to financial records and separated from AI-influenced pipeline and internal productivity benefits.
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Latest events from Tech Mahindra
- Revenue and PAT advanced, but lower EBITDA margin underscored execution amid industry headwinds.TECHM
Q4 15/16 - Revenue grew 20.1%, but margins fell amid acquisitions and a subdued finish.TECHMQ4 14/15
- FY19 combined 12.9% revenue growth with 290 bps of EBITDA-margin expansion.TECHMQ4 18/19
- Revenue surged 136%, while a Rs 5,249.38m exceptional payment cut reported profit.TECHMQ4 06/07
- FY18 profit surged as digital expanded, while communication concentration remained a key risk.TECHMQ4 17/18
- Revenue growth continued, but margin pressure made recovery the FY18 priority.TECHMQ4 16/17
- Revenue and PAT rose, but lower operating margins and market uncertainty tempered the outlook.TECHMQ4 11/12
- Revenue grew 6.1%, but profit fell as COVID-19 reshaped demand and delivery.TECHMQ4 19/20
- Revenue topped $1bn as growth returned, but margins and client concentration pressured results.TECHMQ4 10/11
- Revenue grew, but acquisition debt cut earnings as Satyam broadened strategic reach.TECHMQ4 09/10
Next Tech Mahindra earnings date
Q3 26/2715 Jan, 2027
Tech Mahindra
Next Tech Mahindra earnings date
Q3 26/2715 Jan, 2027
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Frequently asked questions
Tech Mahindra Limited is a provider of software engineering, systems integration, outsourcing and consulting services for the global aerospace and defense industries, with a focus on delivering operating platforms for cyber-physical systems. The Company's segments include Mobility Solutions, IT Services and Digital Business Services. It operates in two geographical segments: Americas and Europe, Middle East & Africa (EMEA). Tech Mahindra aims to deliver sustained value growth to shareholders over the long term. The company operate with a commitment to their customers, shareholders and people.