Financial Performance Summary

Q2 FY27 Performance (Consolidated, IFRS)

  • Revenue: $5,145 million (1.3% YoY growth, 1.2% QoQ growth) / ₹49,244 crore (11% YoY growth)
  • Constant Currency Growth: 1.5% YoY
  • Operating Profit: $1,079 million
  • Operating Margin: 21.0% (stable YoY and QoQ)
  • Net Profit: $817 million (-2.5% YoY) / ₹7,838 crore (6% YoY growth)
  • Basic EPS: $0.20 / ₹19.32
  • Large Deal TCV: $5.2 billion (62% net new)
  • Free Cash Flow: $928 million (113.3% of net profit)
  • AI Revenue: 10.5% of total revenue (29% QoQ growth)

H1 FY27 Performance

  • Revenue: $10,227 million (2.1% YoY growth) / ₹97,454 crore (12% YoY growth)
  • Operating Profit: $2,151 million
  • Operating Margin: 21.0%
  • Net Profit: $1,637 million (-0.6% YoY) / ₹15,613 crore (9% YoY growth)
  • Basic EPS: $0.40 / ₹38.51

Business Segments & Geography

Q2 FY27 Revenue by Business Segment

  • Financial Services: 28.0% (₹13,774 crore, 2.3% YoY growth)
  • Manufacturing: 16.0% (₹7,913 crore, -1.4% YoY growth)
  • Energy, Utilities, Resources & Services: 14.2% (₹6,975 crore, 7.4% YoY growth)
  • Retail: 11.5% (₹5,664 crore, -8.1% YoY growth)
  • Communication: 12.5% (₹6,150 crore, 4.4% YoY growth)
  • Life Sciences: 8.4% (₹4,145 crore, 32.5% YoY growth)
  • Hi-Tech: 6.8% (₹3,332 crore, -17.5% YoY growth)
  • Others: 2.6% (₹1,291 crore, -7.4% YoY growth)

Geographic Revenue (Q2 FY27)

  • North America: 54.6% (₹26,895 crore, -1.6% YoY growth)
  • Europe: 32.5% (₹16,028 crore, 3.9% YoY growth)
  • Rest of World: 10.1% (₹4,965 crore, 15.1% YoY growth)
  • India: 2.8% (₹1,356 crore, -10.5% YoY growth)

Corporate Actions & Capital Allocation

Dividend Declaration

  • Interim dividend for FY27: ₹26 per equity share declared (13% increase from previous year)
  • Record date: November 3, 2026
  • Payout date: November 11, 2026
  • Expected cash outflow: ₹10,531 crore (excluding treasury shares)
  • Final dividend for FY26: ₹25 per share paid June 25, 2026 (₹10,123 crore outflow)

Capital Allocation Policy

  • Targets returning approximately 85% of free cash flow cumulatively over 5-year period through semi-annual dividends and/or share buybacks/special dividends
  • Free cash flow defined as net cash from operating activities less capital expenditure under IFRS
  • Company has no debt as of September 30, 2026

Share Capital & ESOPs

  • Issued capital: 405.04 crore equity shares (₹2,026 crore), increased from 404.69 crore shares due to employee option exercises
  • Treasury shares: 79,15,595 shares held by controlled trust
  • ESOP grants: 9,640 RSUs approved under 2015 Incentive Compensation Plan, vesting equally over three years
  • CEO compensation: 2,94,043 performance-based RSUs under 2015 Plan (₹34.75 crore fair value) and 84,617 performance-based RSUs under 2019 Plan (₹10 crore fair value)
  • Employee stock compensation expense: ₹460 crore for H1 FY27

Acquisitions & Business Combinations

Stratus Global LLC Acquisition (April 21, 2026)

  • Purchase consideration: ₹701 crore (₹650 crore upfront cash + ₹51 crore contingent consideration)
  • Fair value of assets acquired: ₹113 crore (includes ₹47 crore cash)
  • Intangible assets: Customer relationships (₹158 crore), Vendor relationships (₹158 crore), Brand (₹19 crore)
  • Goodwill: ₹517 crore (tax deductible)
  • Transaction costs: ₹15 crore expensed

Optimum Achieve Holdings Inc. Acquisition (May 4, 2026)

  • Purchase consideration: ₹3,470 crore (₹2,844 crore upfront cash + ₹626 crore contingent consideration)
  • Fair value of assets acquired: ₹1,115 crore (includes ₹185 crore cash)
  • Intangible assets: Customer relationships (₹212 crore), Vendor relationships (₹1,359 crore), Brand (₹99 crore)
  • Goodwill: ₹2,179 crore (not tax deductible)
  • Transaction costs: ₹22 crore expensed

Financial Position & Metrics

Balance Sheet Highlights (as of September 30, 2026)

  • Property, plant and equipment: ₹13,071 crore
  • Right-of-use assets: ₹6,176 crore
  • Goodwill: ₹14,864 crore
  • Other intangible assets: ₹4,425 crore
  • Investments: ₹22,151 crore
  • Cash and cash equivalents: ₹24,350 crore
  • Trade receivables: ₹34,821 crore (with ₹679 crore allowance for expected credit losses)
  • Consolidated cash and investments: $4,720 million

Employee Metrics

  • Total Employees: 332,542 (vs 331,991 in Q2 FY26)
  • Voluntary Attrition (LTM): 12.7% (vs 14.3% in Q2 FY26)
  • Women Employees: 39.8%

Guidance & Outlook

  • Revenue growth: Revised to 1%-2% in constant currency for FY27 (from previous guidance)
  • Operating margin: Retained at 20%-22% for FY27

Regulatory & Compliance Matters

  • Statutory Auditors: Deloitte Haskins & Sells LLP with unmodified opinion
  • SEBI Compliance: Prepared pursuant to Regulation 33 of SEBI Listing Regulations
  • Tax matters: Unresolved tax claims of ₹2,015 crore primarily from income tax authorities
  • Contingent liabilities: ₹3,225 crore as at September 30, 2026 (primarily income tax matters)
  • DOJ investigation: Ongoing regarding H-1B visa classification matters

Subsidiary Information

  • Comprehensive list of 133 subsidiaries as of September 30, 2026
  • Recent liquidations: Guidevision UK Limited (September 1, 2026), in-tech Automotive Engineering Beijing Co., Ltd (September 2, 2026)

Management Changes

  • Diane Enberg Jurgens appointed Independent Director (April 22, 2026)
  • Nitin Paranjpe appointed Vice Chairman (April 30, 2026)
  • Micheal Gibbs retired as Independent Director (July 12, 2026)
  • KMP compensation: ₹72 crore for six months ended September 30, 2026