Q2 2026 Mastek Ltd Earnings Call Transcript
Key Points
- Mastek Ltd (BOM:523704) reported an 8.4% year-on-year increase in operating revenue, reaching INR940 crores.
- The company's operational EBITDA improved by 6% quarter-on-quarter, with a 15.5% operating EBITDA margin.
- Mastek Ltd (BOM:523704) maintained a strong balance sheet with cash and cash equivalents increasing to INR656 crores.
- The 12-month order backlog grew by 6.8% year-on-year, supported by healthy deal conversions and renewals, particularly in the UK.
- The company is focusing on AI-led growth strategies, aiming to enhance efficiency and modernization across its services.
- Net profit declined by 24% year-on-year due to an exceptional gain in the previous year's base quarter.
- There is a slowdown in growth within the UK geography, with some softness observed in the Oracle segment.
- North America continues to face macro uncertainties, leading to delays in decision-making and shorter contract durations.
- Margins in the US and Middle East remain lower than expected, with ongoing investments impacting profitability.
- The company's order book growth rate has slowed, with a 7% year-on-year increase, indicating potential delays in client decision-making.
Ladies and gentlemen, good morning, and welcome to the Mastek Limited Q2 FY26 earnings conference call. (Operator Instructions)
Please note that this conference is being recorded. I will now hand the conference over to Mr. Pratik Jagtap from EY Investor Relations for opening remarks. Thank you, and over to you, Pratik.
Thank you, Ryan. Good morning to all of you, and welcome to Q2 FY26 earnings call of Mastek Limited. The results and presentation have already been mailed to you, and you can also view it on our website, www.mastek.com. To take us through the results today and to answer your questions, we have the top management of Mastek, represented by Umang Nahata, the CEO of the company. Umang will start the call with business update for the quarter. Post that, we will open the floor for Q&A session.
As usual, I would like to remind you that anything mentioned on the call that reflects any outlook for the future or
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