Board Meeting Details

The Board of Directors meeting was held on July 27, 2026, commencing at 07:00 PM IST and concluding at 11:05 PM IST.

Financial Results Approval

The Board considered and approved the Un-audited Standalone and Consolidated financial results for the quarter ended June 30, 2026, along with the Limited Review Report, pursuant to Regulation 33 of SEBI Listing Regulations.

S R Batliboi & Associates LLP, Statutory Auditors, issued unmodified Limited Review Reports on both standalone and consolidated financial results for the quarter ended June 30, 2026.

Consolidated Financial Results (Rs. in millions)

Quarter ended June 30, 2026:

  • Revenue from operations: ₹55,277
  • Other income: ₹268
  • Total income: ₹55,545
  • Total expenses: ₹47,974
  • Employee benefits expense: ₹31,250
  • Professional charges: ₹7,002
  • Finance costs: ₹866
  • Depreciation and amortization: ₹2,411
  • Profit before exceptional items and tax: ₹7,571
  • Exceptional items: ₹550 (net expense)
  • Profit before tax: ₹7,021
  • Total tax expense: ₹1,704
  • Profit for the period: ₹5,317
  • Profit attributable to owners: ₹5,186
  • Profit attributable to non-controlling interests: ₹131
  • Total comprehensive income: ₹6,740
  • Paid-up equity share capital: ₹885 (Face value ₹2 each)
  • Basic EPS (continuing operations): ₹12.34
  • Diluted EPS (continuing operations): ₹12.28

Comparative Figures:

  • Preceding quarter (March 31, 2026): Revenue ₹44,504, Profit ₹6,662
  • Corresponding quarter (June 30, 2025): Revenue ₹37,044, Profit ₹3,564
  • Full year (March 31, 2026): Revenue ₹164,027, Profit ₹17,447

Exceptional Items Breakdown (Q1 FY27)

The Group recognized net exceptional expense of ₹550 million comprising:

  • Acquisition and integration costs of ₹613 million related to Encora acquisition
  • Legal costs of ₹50 million relating to cybersecurity litigation matter
  • Exceptional foreign exchange gain of ₹221 million from Bolivian currency devaluation
  • Provision of ₹108 million against customer receivable following bankruptcy

Interim Dividend Declaration

The Board declared an interim dividend of ₹4 per equity share (face value ₹2 each) for financial year 2026-27.

The record date for determining shareholder eligibility was fixed as August 3, 2026, in accordance with Regulation 42 of SEBI Listing Regulations.

Dividend payment will be made within 30 days from the date of declaration.

Director Re-appointment

The Board approved the re-appointment of Mr. OP Bhatt (DIN:00548091) as an Independent Director and Chairperson of the Board for a second term of five consecutive years, effective from May 1, 2027, to April 30, 2032.

The appointment is subject to shareholder approval and based on the recommendation of the Nomination and Remuneration Committee.

Mr. Bhatt is not debarred from holding director office by any SEBI or other authority order.

Profile Details: Mr. OP Bhatt is a Science graduate with post-graduate degree in English Literature. He has extensive experience including 5 years as Chairman and CEO of State Bank of India. He has served as Independent Director on boards of multiple multinational companies including Oil and Natural Gas Corporation, Standard Chartered PLC, Tata Steel Limited, Tata Steel Europe, Tata Consultancy Services, Hindustan Unilever Limited, Tata Motors Passenger Vehicles Limited, and Aadhar Housing Finance Limited. He is currently Member of India Advisory Board of Schulich School of Business (Toronto), Chairman of India Advisory Board of Centre for Creative Leadership (North Carolina), Member of Advisory Board Amundi (France), and Senior Advisor to McKinsey. He is not related to any other directors of the company.

China Expansion Plans

The Board granted in-principle approval for setting up an entity in China for expansion of operations. Incremental details will be shared in due course.

Significant Business Developments

Encora Acquisition:

On December 26, 2025, the Board approved acquisition of 100% equity interest in Encora US Holdco, Inc. and Encora Holdings Ltd. (Cayman) for total consideration of ₹221,918 million through share-swap arrangement and repayment of existing term loan.

The acquisition involved issuance of 93,796,508 fully paid-up equity shares at issue price of ₹1,815.91 per share (aggregating ₹170,326 million) and cash consideration of ₹51,592 million for repayment of Encora's term loans.

The acquisition was completed on April 23, 2026, after receiving regulatory approvals. The investment was accounted using Coforge share price of ₹1,220.60 per share (amounting ₹114,488 million) with balance through cash consideration funded via USD denominated borrowings of $550 million.

For accounting convenience, May 1, 2026 was considered as the acquisition date. The current quarter includes post-acquisition revenue of ₹9,579 million and profit after tax of ₹1,578 million from Encora. Amortization of intangible assets from business combination amounts to ₹633 million.

Purchase price allocation is provisional with goodwill of ₹120,890 million, to be finalized within measurement period.

Cigniti Merger:

On June 3, 2026, pursuant to merger of Cigniti with the Company, 12,671,602 equity shares were allotted and issued to eligible shareholders of Cigniti in accordance with approved Scheme of Amalgamation.

ESOP Activity:

During the quarter, 411,764 options were exercised and 534,397 options lapsed from various grants under Employees Stock Option Plan 2005. 6,953,940 options were outstanding as of June 30, 2026.

Options granted during quarter: 500 options with grant price of ₹391.

Legal Matter:

A class action complaint was filed against the Company and its subsidiary regarding a cybersecurity incident experienced by a customer. The Company disputes allegations and maintains it neither provided cybersecurity services nor had access to customer's underlying database. The Company continues to engage with legal advisers and insurers and continues to provide services to the client.

Subsidiary Information

The consolidated financial results include 88 entities. Among these:

  • 28 subsidiaries with reviewed financials: Total revenues ₹8,740 million, net profit ₹756 million for quarter ended June 30, 2026
  • 30 subsidiaries with unreviewed financials: Total revenues ₹410 million, net profit ₹37 million for quarter ended June 30, 2026

Segment Information

The Chief Operating Decision Maker uses revenue and EBIT (Earnings Before Interest and Tax) as performance measures for operating segments. Assets and liabilities are not identified to reportable segments as they are used interchangeably across segments.

Additional Notes

  • Financial results prepared in accordance with Indian Accounting Standards (Ind AS)
  • Preceding quarter figures are balancing figures between audited full year and unaudited year-to-date figures
  • Results reviewed and recommended by Audit Committee on July 27, 2026