Q2 2026 Tech Mahindra Ltd Earnings Call Transcript
Key Points
- Tech Mahindra Ltd (BOM:532755) reported its strongest constant currency growth in the past 10 quarters, with a 1.6% sequential increase.
- The company achieved an EBIT margin of 12.1%, marking the eighth consecutive quarter of margin expansion.
- Tech Mahindra Ltd (BOM:532755) secured a net new total deal revenue of USD 816 million, representing a 57% increase on a last 12-month basis.
- The company has been recognized as a leader in Gartner's Emerging Market Quadrant for Gen AI Consulting and implementation services.
- Tech Mahindra Ltd (BOM:532755) added 57 must-have accounts in fiscal year 2025, with 21 additional accounts in the first two quarters of the current fiscal year.
- The communications vertical experienced a year-on-year decline of 2.2%, with challenges localized within Europe.
- Revenue from the Americas showed a decline of 2.7% year-on-year, primarily due to challenging macroeconomic conditions.
- The company faces headwinds in the commercial vehicle segment within the manufacturing vertical.
- Tech Mahindra Ltd (BOM:532755) reported a decline in other income due to losses on foreign exchange.
- The company's hedge book decreased from $1.64 billion to $1.33 billion, with a mark-to-market loss for the quarter.
Ladies and gentlemen, good day and welcome to the Tech Mahindra Limited Q2 FY26 earnings conference call. We have with us today, Mr. Mohit Joshi, Chief Executive Officer and Managing Director, Tech Mahindra; and Mr. Rohit Anand, Chief Financial Officer, Tech Mahindra.
(Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Mohit Joshi, MD and CEO for Tech Mahindra. Thank you and over to you, sir.
Thank you, and good morning, good afternoon, and good evening, everyone. Thank you for joining us for our earnings call today as we walk you through our second-quarter performance. Rohit and I and the entire leadership team and our Board are in London today, and very happy to speak to you and as we stand today, exactly midway through our three-year strategy, I'm happy to report consistent and steady progress towards our FY27 goals.
The first half of our journey has been about strengthening our foundation,
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