• Event Type: The document contains the transcript of the Q2 FY2027 Earnings Conference Call held on Friday, November 6, 2026.
  • Date and Time: The call was held on November 6, 2026. A specific time was not mentioned in the provided transcript.
  • Purpose: The purpose of the call was to discuss the financial results of the Company for the quarter and half year ended September 30, 2026, and provide a business update.
  • Management Participants: The call was led by Mr. Nitin Rakesh (Chief Executive Officer), Mr. Aravind Viswanathan (Chief Financial Officer), and Mr. Vinay Kalingara (Head of Investor Relations).
  • Presentation Availability: The presentation was available via a webcast link in the call invite and on the Mphasis website (www.mphasis.com) in the Investors section under Financial and Filings, as well as on the BSE and NSE websites.
  • UPSI Statement: The moderator's opening remarks included a standard forward-looking statement disclaimer, noting that some statements may be forward-looking and involve risks and uncertainties, as detailed in the Q2 results release.

Financial and Operational Highlights from the Transcript:

Financial Performance:

  • Direct business revenue grew 3.5% sequentially and 11.3% year-over-year in constant currency terms.
  • Q2 EBIT margin remained flat. EPS increased 14.6% sequentially to INR 29.4.
  • Operating Cash flow generation was USD 34Mn after normalizing for USD 39.5Mn of remittances initiated on September 30th and received in October.
  • DSO for the quarter was 105 days, normalized for the delayed remittances, and is expected to return to double-digit levels in Q3.

Deal Wins & Pipeline:

  • Net new Total Contract Value (TCV) for Q2 was $466 million.
  • 66% of TCV wins in Q2 were AI-led, up from 63% last quarter.
  • The company closed five large deals in Q2.
  • The total pipeline reached a new high, growing 4.4% sequentially and 23% YoY.
  • 71% of the pipeline is AI-led.

Guidance Update:

  • The company raised its FY27 revenue growth guidance to low double digits, from the previous guidance of high single digits to low double digits.
  • Profitability guidance was reaffirmed, expecting stable margins within the target band of 14.75% to 15.75%.
  • The company continues to target 80% conversion of net income to operating cash flow in FY27.

Business Segment Performance:

  • Geographies: Americas Direct grew 3.1% QoQ and 12.4% YoY. Rest of World grew 16.4% QoQ and 23.5% YoY. EMEA declined 3.3% QoQ and 9.0% YoY due to revenue allocation from a globally structured engagement.
  • Verticals: BFS Direct grew 4.5% QoQ and 15.0% YoY. Insurance grew 1.8% QoQ and 14.7% YoY. TMT grew 10.9% QoQ and 14.5% YoY. Logistics & Transportation declined 12.0% QoQ.
  • Service Lines: Enterprise Applications (75.6% of revenue) grew 3.7% QoQ. BPO grew 6.6% QoQ. ITO declined 4.9% QoQ.

Strategic Update on Mphasis Tria:

  • CEO Nitin Rakesh provided a detailed update on the scaling of the Mphasis Tria AI platform, stating it is now a proof point in large-deal evaluations and is opening up new budgets with business and operations leaders.
  • The company has organized its talent into value streams and forward-deployed engineering teams to scale delivery.

Additional Notes Section

  • Attachments: The regulatory filing intimated the enclosure of the transcript of the earnings call, which was also uploaded to the company's website.
  • Financial Data: This announcement itself did not contain the primary financial results but was a filing to submit the transcript of the call where those results were discussed. The transcript contained extensive financial data and commentary.