Board Meeting Details

The Board of Directors meeting was held on Thursday, November 5, 2026, in New York. The meeting commenced at 11:30 AM EST (10:00 PM IST) and concluded at 12:00 PM EST (10:30 PM IST).

Key Approvals and Disclosures

1. Financial Results Approval

The Board approved the audited standalone and consolidated financial results for the quarter and half year ended September 30, 2026. The results were reviewed by the Audit Committee and received an unmodified audit opinion from B S R & Co. LLP, Chartered Accountants.

2. Authorized Persons for Disclosures

The Board authorized the following persons to determine materiality of events and make disclosures to stock exchanges under Regulation 30 of SEBI LODR Regulations:

  • Mr. Nitin Rakesh, Chief Executive Officer and Managing Director (ceo.mphasis@mphasis.com)
  • Mr. Aravind Viswanathan, Chief Financial Officer (Mphasis.cfo@mphasis.com)
  • Mr. Eric Winston, EVP, General Counsel and Chief Compliance, Risk & Ethics Officer (legal@mphasis.com)
  • Mr. Mayank Verma, Senior Vice President and Company Secretary (secretarial@mphasis.com)

Consolidated Financial Performance (Amounts in ₹ million)

Quarterly Performance (Q2 FY27)

  • Revenue from operations: ₹43,840.54 (Q1 FY27: ₹45,809.30; Q2 FY26: ₹39,019.11)
  • Total income: ₹44,669.11 (Q1 FY27: ₹47,280.98; Q2 FY26: ₹39,765.54)
  • Profit before tax: ₹6,827.85 (Q1 FY27: ₹7,675.71; Q2 FY26: ₹6,247.82)
  • Profit for the period: ₹4,895.06 (Q1 FY27: ₹5,611.26; Q2 FY26: ₹4,690.74)
  • EPS (Basic): ₹25.65 (Q1 FY27: ₹29.39; Q2 FY26: ₹24.65)
  • EPS (Diluted): ₹25.61 (Q1 FY27: ₹29.34; Q2 FY26: ₹24.54)

Half-Yearly Performance (H1 FY27)

  • Revenue from operations: ₹89,649.84 (H1 FY26: ₹76,344.00)
  • Total income: ₹91,950.09 (H1 FY26: ₹77,899.91)
  • Profit before tax: ₹14,503.56 (H1 FY26: ₹12,348.53)
  • Profit for the period: ₹10,506.32 (H1 FY26: ₹9,107.77)

Segment Performance (Q2 FY27)

  • Banking and Financial Services: ₹24,740.42 million revenue, ₹7,957.47 million segment result
  • Logistics and Transportation: ₹1,666.95 million revenue, ₹377.08 million segment result
  • Technology Media and Telecom: ₹8,999.57 million revenue, ₹2,540.66 million segment result
  • Insurance: ₹6,824.63 million revenue, ₹885.51 million segment result
  • Others: ₹4,207.39 million revenue, ₹1,289.30 million segment result

Standalone Financial Performance (Amounts in ₹ million)

Quarterly Performance (Q2 FY27)

  • Revenue from operations: ₹26,785.73
  • Profit before tax: ₹6,946.02
  • Profit after tax: ₹5,137.07
  • EPS (Basic): ₹26.91
  • EPS (Diluted): ₹26.86

Half-Yearly Performance (H1 FY27)

  • Revenue from operations: ₹53,796.53
  • Profit before tax: ₹13,156.69
  • Profit after tax: ₹9,729.20

Dividend Information

The Board of Directors had proposed a final dividend of ₹62 per equity share for the year ended March 31, 2026, which was approved by shareholders at the Annual General Meeting held on July 23, 2026, and paid during the current quarter.

Acquisition and Investment Activities

1. Aokah Inc. Investment

  • On July 3, 2025, Mphasis Corporation acquired 26% stake in Aokah Inc. for ₹355.17 million (USD 4 million)
  • During Q2 FY27, additional investment of ₹383.30 million (USD 4 million) made to acquire further 4% stake
  • Total investment pending share allotment disclosed under 'Other non-current financial assets'
  • Group has significant influence with right to appoint two directors
  • Share of loss for H1 FY27: ₹14.49 million (H1 FY26: ₹19.66 million)

2. Locate Software Inc. Acquisition

  • On September 1, 2025, Mphasis Corporation obtained control over digital transformation management business of Locate Software Inc.
  • Consideration: ₹754.74 million (USD 8.50 million) payable over 15 months
  • Present value: ₹736.61 million (USD 8.30 million)
  • Includes contingent consideration of ₹559.03 million (USD 6.30 million) subject to milestones
  • Identified intangible assets are tax-deductible

3. OKIN Process, Inc. Acquisition

  • On April 1, 2026, Mphasis Corporation obtained control over business process outsourcing services business of OKIN Process, Inc.
  • Consideration: ₹521.59 million (USD 5.50 million) payable over 12 months
  • Present value: ₹515.03 million (USD 5.43 million)
  • Includes contingent consideration of ₹142.25 million (USD 1.50 million) subject to milestones
  • Goodwill allocated to Technology, Media and Telecom CGU
  • Revenue contribution for H1 FY27: ₹799.91 million
  • Profit impact not material

4. Theory and Practice Business Intelligence Inc. (TAP) Acquisition

  • On April 21, 2026, Mphasis Ireland Limited acquired 100% of TAP shares
  • Cash consideration: ₹180.21 million (CAD 2.66 million)
  • Acquired Continuum AI, a Decision Intelligence platform
  • Net liabilities acquired include cash of ₹28.59 million and loan of ₹516.62 million
  • Goodwill of ₹256.11 million allocated to multiple CGUs
  • Revenue contribution for H1 FY27: ₹36.26 million
  • Loss impact: ₹341.84 million

5. Red Oak Tech, Inc. Agreement

  • On July 1, 2026, Mphasis Corporation entered definitive agreement to acquire customer contract
  • Total consideration: up to ₹2,650.55 million (USD 28 million)
  • Contingent consideration: up to ₹1,419.94 million (USD 15 million) payable over 24 months subject to milestones
  • Transaction not consummated as of November 5, 2026 (closing conditions not met)

Subsequent Events

  • Group received demand notice from Canada Revenue Agency for CAD 6.60 million (₹445.91 million) related to GST/HST for Canadian operations
  • Group evaluating the basis of demand and seeking additional information from tax authorities
  • Impact assessment on financial statements pending

Business Highlights from Press Release

  • Revenue grew 4.5% QoQ and 17.4% YoY on reported basis
  • New TCV wins of USD 466 million in Q2 FY27, with 66% AI-led
  • Gross margin: 27.1% (up 20 bps QoQ, down 100 bps YoY)
  • Operating margin: 14.8% (flat QoQ, down 50 bps YoY)
  • Net margin: 12.2% (up 100 bps QoQ, up 20 bps YoY)
  • EPS: ₹29.4 (up 14.6% QoQ, up 19.2% YoY)

Key Deal Wins

  • Large broker dealer selected Mphasis for advisor administration business with revenue-sharing model
  • Leading Tech company selected for multi-year engagement across SAP, Oracle, Azure Monitoring, and Testing & Automation
  • Large telecommunication major selected for digital commerce platform modernization
  • Global healthcare organization expanded engagement across enrollment & billing, contact center, and back-office operations

Auditor Information

  • B S R & Co. LLP, Chartered Accountants issued unmodified audit opinion
  • Firm Registration No.: 101248W/W-100022
  • Audit partners: Arjun Ramesh (Membership No.: 218495) for standalone results, unnamed partner for consolidated results

Consolidated Entities

The financial results include 49 entities comprising subsidiaries, associates, and controlled trusts, including recent acquisitions.

#Tags: #Mphasis #Q2Results #SEBIDisclosure #FinancialResults #AcquisitionUpdate #RegulatoryCompliance #Neutral