Mastek Limited filed a regulatory disclosure containing its Q2FY27 financial results and investor presentation. The document was submitted to BSE Limited and The National Stock Exchange of India Limited under scrip code 523704 and symbol MASTEK.

Financial Performance

Quarterly Results (Q2FY27):

  • Revenue from Operations: ₹1,018.7 crore (up 3.4% QoQ, up 8.3% YoY) / $107.3 million (up 2.4% QoQ, down 0.8% YoY)
  • Total Income: ₹1,030.4 crore (up 3.3% QoQ, up 7.8% YoY)
  • Operating EBITDA: ₹146.2 crore (down 3.9% QoQ, down 0.1% YoY)
  • Operating EBITDA Margin: 14.4% (down 109 bps QoQ, down 121 bps YoY)
  • Net Profit: ₹105.7 crore (down 0.2% QoQ, up 8.4% YoY)
  • Net Profit Margin: 10.3% (down 36 bps QoQ, up 6 bps YoY)
  • Diluted EPS: ₹33.9

Half-Yearly Results (H1FY27):

  • Revenue from Operations: ₹2,003.9 crore (up 8.0% YoY) / $212.1 million (down 1.6% YoY)
  • Total Income: ₹2,027.7 crore (up 7.8% YoY)
  • Operating EBITDA: ₹298.3 crore (up 4.9% YoY)
  • Operating EBITDA Margin: 14.9% (down 45 bps YoY)
  • PAT: ₹211.5 crore (up 11.6% YoY)
  • PAT Margin: 10.4% (up 36 bps YoY)
  • Diluted EPS: ₹67.8

Operational Highlights

  • 12-month Order Backlog: ₹2,742.8 crore ($286.2 million) as of September 30, 2026, showing 10.4% growth in rupee terms and 2.3% growth in dollar terms YoY
  • Employee Base: Total 4,810 employees (3,171 in India, 1,639 onsite), net reduction of 87 employees during the quarter
  • Attrition: LTM attrition at 15.2% in Q2FY27 compared to 16.4% in Q1FY27
  • Cash Position: Total cash, cash equivalents and investments at ₹930.6 crore as of September 30, 2026 (compared to ₹945.4 crore as of June 30, 2026)
  • Cash Flow: Net cash of ₹37 crore added during quarter despite dividend payout of ~₹50 crore and loan repayment of ~₹55 crore
  • Utilization: 83.4% (including trainees)
  • DSO: 74 days

Strategic Developments

  • Signed 53 new AI deals in Q2FY27 contributing to approximately 45% of overall order book
  • Announced partnership with Innovaccer, a market leading platform in Data & AI for healthcare & life sciences
  • Launched "Service as a Software" offering backed by functional expertise in Enterprise Apps and AI engineering
  • Company is implementing AI Native Solutions internally, replacing internal CRM, Recruitment, Expenses and Accounts Payable systems

Key Contract Wins

1. US multi-practice senior care provider: Service-as-Software engagement to build and operate AI-powered core clinical platform (16-month build + 36-month operations)

2. NYSE-listed global dental technology leader: 5-year strategic partnership across Oracle, Salesforce, Data, Digital Engineering, and AI

3. UK government department: Cyber Security Service Delivery Partner for advisory and technical expertise

4. UK Territorial Police Department: Process transformation engagement covering finance, procurement, HR and payroll

5. Global classification society: 3-year outcome-based managed services partnership using Agentic AI

6. MENA private hospital group: Strategic engagement for enterprise transformation on Oracle Fusion Cloud

Geographic Performance

  • UK & Europe: +4.1% QoQ growth in INR, +14.0% YoY
  • North America: +0.9% QoQ growth in INR, +1.3% YoY
  • AMEA: +3.6% QoQ growth in INR, -7.8% YoY (impacted by geopolitical uncertainties)

Vertical Performance

Sequential growth led by Financial Services (16.4%) and Government & Education (7.1%)

Recognitions & Awards

  • Everest Group: Major Contender in Retail Digital Services PEAK Matrix Assessment
  • IDC: Major Player in Oracle Implementation Services 2026 Vendor Assessment globally
  • ISG: Leader in Public Sector Services and Solutions U.K; Contender in Generative AI and Agentic AI Service; Product Challenger in AI-Driven ADM Services

Management Commentary

CEO Umang Nahata stated the company is transforming into an AI Native organization with AI-led solutions gaining traction. CFO Deepak Kedia noted strong quarter despite macro challenges, with focus on operational efficiency and cost management.

Forward-looking Statements

The document contains forward-looking statements subject to risks including competition, growth, pricing environment, recruitment, technology, wage inflation, and regulatory policies.

Investor Contact

Asha Gupta (EY LLP) and Niraj Khemka (Head of IR & FP&A) provided as contacts for investor relations.