Key Decisions and Financial Results

1. Management Changes

  • Resignation of MD & CEO: Mr. Makarand Padalkar (DIN: 02115514) tendered his resignation as Managing Director and Chief Executive Officer, effective end of day July 23, 2026. He will cease to be Chairperson/member of respective Board committees but will continue for some time to ensure smooth handover.
  • New MD & CEO Appointment: Mr. Avadhut Ketkar (DIN: 02353654), currently Chief Financial Officer, appointed as Additional Director in capacity of Managing Director and Chief Executive Officer for a term of three consecutive years from July 24, 2026 to July 23, 2029, subject to shareholder approval.
  • New CFO Appointment: Mr. Manish Bhandari appointed as Chief Financial Officer (Key Managerial Personnel) effective July 24, 2026.
  • New Director Appointment: Mr. Andrew Mark Morawski (DIN: 11775252) appointed as Additional Director in capacity of Non-Executive, Non-Independent Director liable to retire by rotation, effective July 22, 2026, subject to shareholder approval.

2. Financial Results Approval

Board approved unaudited standalone and consolidated financial results for quarter ended June 30, 2026, along with Limited Review Reports from statutory auditors M/s. S R Batliboi & Associates LLP.

3. Committee Reconstitution

Board approved reconstitution of following committees effective July 24, 2026:

  • Risk Management Committee: Mrugank Paranjape (Chairperson), Avadhut Ketkar, Kavita Venugopal, Manish Bhandari (Members)
  • Corporate Social Responsibility Committee: Kimberly Woolley (Chairperson), Jane Murphy, Avadhut Ketkar (Members)
  • Stakeholders Relationship Committee: Jane Murphy (Chairperson), Kimberly Woolley, Avadhut Ketkar (Members)
  • Audit Committee: Mrugank Paranjape (Chairperson), Jane Murphy, Kavita Venugopal, Gopala Ramanan Balasubramaniam (Members)

Detailed Financial Performance

Standalone Results (₹ in million)

Quarter Ended June 30, 2026 (Unaudited)

  • Total Income: ₹25,669
  • Total Expenses: ₹8,082
  • Employee benefit expenses: ₹7,061
  • Travel expenses: ₹155
  • Professional fees: ₹383
  • Finance cost: ₹7
  • Depreciation and amortization: ₹122
  • Other expenses: ₹354
  • Profit before tax: ₹18,210
  • Tax expense: ₹4,574
  • Current tax: ₹4,418
  • Deferred tax: ₹156
  • Net profit for period: ₹13,636
  • Other comprehensive loss: ₹(5)
  • Total comprehensive income: ₹13,631
  • Paid-up equity share capital: ₹435 (face value ₹5 each)
  • Earnings per share:
  • Basic: ₹156.63
  • Diluted: ₹155.99

Comparative Standalone Results

| Particulars | Jun-26 (Unaudited) | Mar-26 (Audited) | Jun-25 (Unaudited) |

| Total Income | 25,669 | 20,564 | 14,680 |

| Net Profit | 13,636 | 11,111 | 5,872 |

| EPS Basic (₹) | 156.63 | 127.68 | 67.58 |

| EPS Diluted (₹) | 155.99 | 127.20 | 67.25 |

Consolidated Results (₹ in million)

Quarter Ended June 30, 2026 (Unaudited)

  • Revenue from operations: ₹31,252
  • Other income: ₹776
  • Total income: ₹32,028
  • Total expenses: ₹12,641
  • Employee benefit expenses: ₹10,753
  • Travel expenses: ₹248
  • Professional fees: ₹1,108
  • Finance cost: ₹7
  • Depreciation and amortization: ₹147
  • Other expenses: ₹378
  • Profit before tax: ₹19,387
  • Tax expense: ₹5,232
  • Current tax: ₹5,124
  • Deferred tax: ₹108
  • Net profit for period: ₹14,155
  • Other comprehensive income: ₹35
  • Total comprehensive income: ₹14,190
  • Paid-up equity share capital: ₹435 (face value ₹5 each)
  • Earnings per share:
  • Basic: ₹162.59
  • Diluted: ₹161.92
  • Net profit attributable to equity holders: ₹14,155

Comparative Consolidated Results

| Particulars | Jun-26 (Unaudited) | Mar-26 (Audited) | Jun-25 (Unaudited) | Mar-26 (Audited - Full Year) |

| Revenue | 31,252 | 20,652 | 18,522 | 76,721 |

| Net Profit | 14,155 | 8,417 | 6,419 | 26,393 |

| EPS Basic (₹) | 162.59 | 96.72 | 73.88 | 303.54 |

| EPS Diluted (₹) | 161.92 | 96.36 | 73.52 | 302.11 |

Significant Transactions and Notes

Customer Agreement

During quarter ended June 30, 2026, company entered into agreement with existing customer for:

  • Licensing of software products
  • Transfer of personnel
  • Provision of transition services

Recognized license revenue of ₹9,353 million and other income of ₹191 million from this agreement.

Employee Benefits

  • Employee benefit expenses include severance expenses of ₹1,151 million (standalone) and ₹1,782 million (consolidated)
  • Company recorded provision for employee benefit expense of ₹263 million (Q1) and ₹752 million (FY26) due to implementation of new Labour Codes notified by Government of India on November 21, 2025

Share Allotment

During quarter, company allotted 37,006 equity shares of face value ₹5 each on exercise of stock options by eligible employees under ESOP schemes.

Other Income Details (Standalone)

| Particulars | Jun-26 | Mar-26 | Jun-25 | Mar-26 (Full Year) |

| Finance income | 442 | 465 | 700 | 2,045 |

| Exchange (loss)/gain | (12) | 76 | 7 | 193 |

| Miscellaneous income | 193 | 26 | 5 | 61 |

| Dividend from subsidiaries | - | 4,334 | - | 4,334 |

| Total | 623 | 4,901 | 712 | 6,800 |

Segment-wise Performance (Consolidated)

Revenue (₹ in million)

| Segment | Jun-26 | Mar-26 | Jun-25 | Mar-26 (Full Year) |

| Product licenses | 29,358 | 18,706 | 16,743 | 69,416 |

| IT solutions & consulting | 1,894 | 1,946 | 1,779 | 7,305 |

| Total | 31,252 | 20,652 | 18,522 | 76,721 |

Segment Results (₹ in million)

| Segment | Jun-26 | Mar-26 | Jun-25 | Mar-26 (Full Year) |

| Product licenses | 18,953 | 10,169 | 8,259 | 34,418 |

| IT solutions & consulting | 383 | 663 | 542 | 2,090 |

Auditor Review

Statutory auditors S.R. Batliboi & Associates LLP issued unmodified review conclusion on both standalone and consolidated financial results for quarter ended June 30, 2026.