Financial Performance Summary

Consolidated Financial Highlights (Q1FY27)

  • Revenue from Operations: ₹985.3 crore ($104.8 million), representing 5.0% quarter-on-quarter growth and 7.7% year-on-year growth
  • Constant Currency Revenue Growth: 1.8%
  • Other Income: ₹12.0 crore, decreased 49.6% QoQ
  • Total Income: ₹997.3 crore, increased 3.7% QoQ
  • Operating EBITDA: ₹151.4 crore, with margin of 15.4% (declined 71 bps QoQ)
  • Profit Before Tax (PBT): ₹138.5 crore, with margin of 13.9% (improved 86 bps QoQ)
  • Profit After Tax (PAT): ₹105.9 crore, with margin of 10.6% (declined 42 bps QoQ)
  • Earnings Per Share (Basic): ₹34.2
  • Earnings Per Share (Diluted): ₹33.9

Regional Performance

  • UK & Europe: Delivered 6.5% sequential revenue growth in rupee terms
  • North America: Delivered 6.2% sequential revenue growth in rupee terms
  • Middle East: Impacted due to geopolitical uncertainties

Operational Metrics

Order Backlog

  • 12-month Order Backlog: ₹2,935.2 crore ($310.1 million) as of June 30, 2026
  • Year-on-Year Growth: 25.0% in rupee terms, 13.3% in dollar terms
  • Regional Breakdown:
  • UK & Europe: $360.5 million
  • US: $113.5 million
  • AMEA: $54.1 million

Employee Metrics

  • Total Employees: 4,897 as of June 30, 2026 (added 167 during quarter)
  • Offshore Employees: 3,283 based in India
  • Onsite Employees: 1,614
  • Diversity: 27.9% women employees
  • LTM Attrition: 16.4% (down 1% from previous)
  • Utilization net of leave: 83.9%

Cash Position

  • Cash, Cash Equivalents and Fair Value of Mutual Funds: ₹945.4 crore as of June 30, 2026
  • Improvement: Added approximately ₹200 crore in operating cash over last two quarters

Client Metrics

  • New Clients Added: 13 in Q1FY27
  • Active Clients during Quarter: 309
  • Revenue Concentration:
  • Top 5 clients: 32.0% of revenue
  • Top 10 clients: 44.7% of revenue
  • Clients with Annual Billing > $1 million: 69

Forex Hedging

  • GBP Hedge for next 12 months: £22.6 million at average rate of ₹120.3
  • USD Hedge for next 12 months: $7.6 million at average rate of ₹91.8

Management Commentary

CEO Statement (Umang Nahata)

The company is transforming into an AI transformational company in select verticals. The 'Lead with AI' strategy is delivering directional change with approximately 45% of new order book coming from AI deals. North America won an AI-led salesforce $25 million deal. The long-term growth outlook remains positive despite Middle East business impact from geopolitical uncertainties.

CFO Statement (Deepak Kedia)

Q1 performance demonstrated resilience with 1.8% constant currency revenue growth. EBITDA performance declined sequentially largely due to delayed collection in Middle East. The company remains focused on operational efficiency, disciplined cost management, and AI-led productivity. Net cash and investment position improved by approximately ₹200 crore over last two quarters.

Key Business Wins Q1FY27

The company secured over 40 new AI deals across multiple sectors and regions:

1. UK Council Transformation: Strategic engagement to digitally transform one of England's largest councils, unifying Finance, Procurement, Budgeting, HR, and Payroll on Oracle Cloud through ADOPT AI

2. UK Education Technology: Engagement with leading UK education technology and payments group to modernize legacy platform into cloud-native architecture with AI-powered engineering

3. US Federal Security Agency: Landmark engagement with US Federal security agency to transform mission-critical service delivery on Salesforce Agentforce platform

4. Saudi Investment Banking: Strategic engagement with leading Saudi investment banking and asset management firm to transform Finance, Supply Chain, and Performance Management operations

5. UK Health Authority: Four strategic programmes within UK's national health authority Data Directorate for health data transformation

6. US Pharmaceutical: Engagement with US specialty pharmaceutical company to enhance workforce operations through flexible nearshore-offshore model

7. Saudi Healthcare: Five-year engagement with KSA's fastest-growing listed hospital groups for Vision 2030 healthcare transformation using Mastek AI Healthcare

8. US Tools Manufacturer: Multi-million dollar fixed-price transformation contract with leading US provider of automatic taping and finishing tools

9. US Furniture Rental: Multi-year AI-led strategic engagement with leading US furniture rental and transition services provider

10. US Automotive Marketplace: Engagement with leading US online automotive marketplace to engineer and run its data backbone

11. Saudi Transportation: Five-year strategic partnership with KSA's national transportation and mobility leader for AI Managed Services

Recognitions & Achievements

  • Avasant: Featured as 'Challengers' in Higher Education Digital Services 2026 RadarView and Manufacturing Digital Services 2026 RadarView; recognized in Banking Digital Services 2026 RadarView
  • Gartner: Recognized in Market Guide for Oracle Cloud Infrastructure Professional and Managed Services
  • Everest: Recognized as Major Contender and Star Performer in Oracle Cloud Applications Services PEAK Matrix Assessment 2026
  • ISG: Recognized as Product Challenger in Snowflake Ecosystem Partners 2026 (Global) and Top 15 Sourcing Standout in ISG Index Q2 2026

Company Overview

Mastek (NSE: MASTEK; BSE: 523704) is a global provider of enterprise AI, digital, and cloud services with presence in over 40 countries and approximately 5,000 employees. The company follows a "Lead with AI" approach integrating intelligence across solutions and operations. Key partners include Oracle, Salesforce, Microsoft, AWS, Snowflake, and Databricks. Primary sectors served include Public Sector, Healthcare, Retail, Manufacturing, Higher Education, and Financial Services.

Investor Contact Information

  • Investor Relations: Asha Gupta, E&Y LLP (Asha.Gupta@in.ey.com)
  • Investor Grievances: Investor_grievances@mastek.com
  • General IR Contact: investor.relations@mastek.com

Forward-Looking Statements Disclaimer

The document contains forward-looking statements involving risks and uncertainties including competition, growth, pricing environment, recruitment and retention, technology, wage inflation, law and regulatory policies. Actual results may differ materially from projections.