Tech Mahindra Ltd (TECHM) Q2FY26 Concall Summary - Sep-2025 Qtr
Performance Overview
- The company reported its strongest sequential constant currency growth in the past 10 quarters at 1.6%, indicating a positive turn in performance midway through its three-year strategic plan.
- A key achievement was the consistent margin expansion, with the EBIT margin reaching 12.1% in Q2, marking the 8th consecutive quarter of improvement, driven by operational efficiencies under Project Fortius.
- The company secured strong net new deal wins of USD 816 million, a significant 57% increase on a last twelve months (LTM) basis, reflecting broad-based success across key verticals.
- Growth was broad-based across key verticals, including Manufacturing (5.2% YoY), BFSI (6.2% YoY), and Retail, Transport & Logistics (7.2% YoY), demonstrating the effectiveness of its focused strategy.
- The company is making significant strides in AI, highlighted by its partnership in the India AI Mission to develop a one-trillion-parameter LLM and the launch of its proprietary agentic AI platform, Techm Orion.
Financial Metrics
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Operating Performance / Business Segments
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Key Discussions & Insights
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Outlook and Guidance
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Challenges / Concerns
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Industry / Competitive Landscape
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Overall Summary
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