Tata Technologies Q2 Revenue Up 28.4% YoY

Total Operating Revenue reached ₹16,988 million, up 28.4% YoY and 25.1% YoY organically.
Services Segment Revenue was ₹13,557 million, up 33.9% YoY and 29.5% YoY organically.
In USD, Total Operating Revenue was $177.9 million, with 19.1% YoY organic constant currency growth.
In USD, Services Segment Revenue was $141.9 million, with 22.1% YoY organic constant currency growth.
Headcount increased to 12,895 in Q2 FY27 from 12,402 in Q2 FY26.
Voluntary attrition (LTM) was 15.6% in Q2 FY27.
Key drivers include robust demand, ongoing program ramp-ups, and healthy pipeline conversion.

Services Segment: Revenue ₹13,557 million (33.9% YoY growth); Gross Profit ₹4,084 million (34.4% YoY growth); Gross Margin 30.1%.
Technology Solutions Segment: Revenue ₹3,431 million (10.5% YoY growth); Gross Profit ₹654 million (16.6% YoY growth); Gross Margin 19.1%.
Explanation of significant changes: Strong growth in Services driven by strategic program wins and scaling; Technology Solutions segment saw a -6.7% QoQ revenue decline.

Revenue: ₹16,988 million
EBITDA: ₹2,733 million
PAT: ₹1,714 million
EPS (diluted): ₹4.22
Margins: Gross Margin 27.9%; Services Gross Margin 30.1%; Technology Solutions Gross Margin 19.1%; Operating EBITDA Margin 16.1%; EBIT Margin 14.1%; Net Income Margin 10.1%
YoY/QoQ comparison: Revenue up 28.4% YoY and 2.1% QoQ; EBITDA up 31.5% YoY and 2.2% QoQ; PAT up 3.6% YoY but down -5.2% QoQ
Drivers of financial performance: Diversified portfolio, improving deal momentum, and disciplined execution.
Key Risks: Near-term challenges within certain customer segments and geographies mentioned.

Cash and Cash Equivalents: $107.8 million (as of Q2 FY27 end, after ~$50 million in dividends paid out)
DSO (Billed + Unbilled): 102 days
Free Cash Flow (FCF): ₹2,235 million (computed as Adj. EBITDA minus Net Capital Expenditure)
Financial Health Insights: Described as having a healthy balance sheet.

Investments in Innovation: Leadership in product realization, full-vehicle development capabilities, expanding Aerospace presence, and AI-native transformation.
Strategic Wins: $138 million full vehicle program with a leading European luxury Automotive OEM; selected by a North American commercial vehicle manufacturer for end-to-end platform development; strategic engagement for next-gen vehicle software platforms; digital transformation partner for a European Tier 1; selected to assume a strategic engineering center for a North American Tier 1.
Expected impact on growth: Positioned for sustainable long-term growth.
Strategic Rationale: Becoming a highly differentiated engineering and technology partner.

Macro/Industry Trends: Higher auto spending, growth in aerospace sector, evolution towards software-defined vehicles and embedded engineering.
Impact on Company: Enabling the company to grow its aerospace business at a faster rate and support OEMs in navigating the mobility transition.

Strategic Outlook: "We remain confident in delivering strong double-digit growth for the full year" and "well-positioned for sustainable long-term growth."
FY Guidance: Confidence in strong double-digit growth for FY27.
Market Share Targets: Not Specified
Risks and Opportunities: Near-term challenges in certain customer segments and geographies, but underlying demand remains encouraging.

Received TMCV Supplier Award for Value Excellence from Tata Motors.
Received Brandon Hall Group Award for Best Talent Acquisition Process.
Recognized as Highly Commended Winner in Best Use of AI in Corporate Treasury category at Adam Smith Awards Asia 2026.
Participated in Farnborough International Airshow 2026 to expand global aerospace presence.