Event Type: Q1 FY 2027 Earnings Conference Call held on Friday, July 24, 2026

Date and Time: July 24, 2026 (specific time not mentioned in transcript)

Purpose: Discussion of financial results for the quarter ended June 30, 2026 and strategic business updates

Management Participants:

  • Mr. Nitin Rakesh – Chief Executive Officer
  • Mr. Aravind Viswanathan – Chief Financial Officer
  • Mr. Vinay Kalingara – Head Investor Relations

Presentation Availability: The presentation was available via webcast link in the call invite email and on the Mphasis website at www.mphasis.com in the Investors section under Financial and Filings, as well as on both BSE and NSE websites.

Compliance Statement: The call included forward-looking statements that may involve certain risks and uncertainties, with a detailed statement available in the Q1 results release.

Financial Period Discussed: Q1 FY27 (quarter ended June 30, 2026)

Financial Highlights:

  • Q1 FY27 revenue: $471 million, growing 2.1% sequentially and 8.3% YoY in constant currency
  • Direct revenues: $465 million, growing 2.2% sequentially and 9.9% YoY in constant currency
  • EBIT margin: Down 60 bps (within 14.75% to 15.75% band)
  • EPS: Decreased 4% sequentially to INR 25.6
  • Operating Cash flow: $39 million for the quarter
  • DSO: 95 days

Forward-Looking Statements and Guidance:

  • Maintains FY27 guidance: high single-digit to low double-digit growth in constant currency
  • Margin guidance maintained within 14.75% to 15.75% EBIT band
  • Operating cash flow conversion expected to remain at 80% of net income through FY27
  • Q2 positioned to deliver best sequential constant currency growth in three years

Strategic Updates:

  • Mphasis Tria platform showing strong traction with multiple opportunities moving from conversation to closure within seven weeks of launch
  • AI-led deals grew from 12% of pipeline to 70% and now stabilizing
  • Pipeline reached all-time high at end of Q1, growing 8% sequentially and 28% YoY
  • Net new TCV for Q1: $461 million (fifth consecutive quarter above $400 million)
  • Trailing-twelve-month TCV: over $1.8 billion
  • Closed three large deals in Q1, including one over $100 million
  • 63% of TCV wins in Q1 were AI-led

Business Segment Performance:

  • Americas: Grew 3.9% sequentially and 11.4% YoY in Direct business
  • ROW: Grew 6.1% QoQ in constant currency, led by GCC ecosystem
  • Enterprise Applications: Grew 11.9% YoY in Direct, driven by AI-led modernization deals
  • BPO: Grew 12.7% sequentially and 14% YoY in Direct
  • BFS: Grew 9.4% YoY and 0.8% sequentially in Direct, with compound quarterly growth rate over 3.5% across past eight quarters
  • Insurance: Grew 17.8% YoY, down 3.1% sequentially
  • TMT: Grew 16.4% sequentially and 13.6% YoY

Client Metrics:

  • Added five clients in $20 million-plus band on trailing-twelve-month basis
  • Added two new clients in $5 million-plus band YoY
  • Added one new client in $10 million-plus band QoQ
  • Top 1 to 10 accounts grew 11.1% YoY
  • Top 11 to 30 accounts grew 21.0% YoY

Additional Notes Section

The document includes the full transcript of the earnings conference call with detailed Q&A session covering various topics including demand environment, margin trajectory, AI adoption trends, competitive intensity, and cash flow dynamics.