Q1 2026 Coforge Ltd Earnings Call Transcript
Key Points
- Coforge Ltd (BOM:532541) reported a strong sequential revenue growth of 9.6% in US dollar terms for Q1 FY26.
- The company signed five large deals during the quarter, contributing to a total order intake of $507 million.
- Coforge Ltd's top 5 and top 10 clients grew by 25.1% and 15.7% sequentially, respectively, indicating strong client relationships.
- The firm's executable order book stands at a record $1.55 billion, which is 46.9% higher than the same time last year.
- Coforge Ltd has maintained one of the lowest attrition rates in the industry at 11.3%, reflecting strong employee retention.
- The BFS vertical saw a marginal decline of 1.1% QoQ in dollar terms, indicating some challenges in the banking sector.
- The EBIT margin remained flat at 13.2% due to higher amortization of intangibles and increased subcontractor expenses.
- There was a onetime broad-based bonus provision for employees amounting to $5.5 million, impacting the financials.
- The company incurred a hedge loss of $1.9 million during the quarter, affecting the top line.
- CapEx has increased significantly, with $58 million allocated to an AI data center project, impacting free cash flow.
Ladies and gentlemen, good day and welcome to Coforge Limited, Q1 FY26 earnings conference call.
(Operator Instructions) This conference is being recorded.
We have today with us from the management team, Mr. Sudhir Singh, CEO; Mr. John Speight, Chief Customer Success Officer; and Mr. Saurabh Goel, CFO. We will begin the call with opening remarks from the management team.
And post that, we will open the floor for questions.
Before we begin, please note that some of the statements made in today's discussion relating to the future should be construed as forward-looking statements and may involve risks and uncertainties. Please refer to the disclaimer to this effect in the company's Q1 FY26 earnings press release.
With that, I now hand the call over to Mr. Sudhir Singh.
Over to you, Mr. Singh.
Thank you, Emma, and a very, very good morning, ladies and gentlemen. Thank you for joining us today as we share our quarter one fiscal year '26
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