Tech Mahindra FY26: EBIT ₹7,152 Cr +39.2% YoY, ₹51 dividend declared
RESULTS
▲ Positive Development
MEDIUM RISK
📅 Filed on BSE: 22 Apr 2026, 01:52 PM IST · BSE ID: 1f6b056c-a9fa-44b8-bb5b-fbce7d1e98d1
View Original BSE Filing (PDF)
💡
In Simple Terms
Tech Mahindra's profits jumped 39% this year, revenue grew 7%, and the company is paying out record dividends of ₹51 per share to shareholders.
🤖 AI Summary
- FY26 EBIT ₹7,152 crores, up 39.2% YoY; margin expanded 290 basis points to 12.6%
- Revenue ₹56,815 crores (+7.2% YoY); USD 6,385 million (+1.9% reported, +0.6% constant currency)
- PAT ₹4,811 crores, up 13.2% YoY; free cash flow USD 616 million
- Final dividend ₹36 per share approved; total FY26 dividend ₹51 per share—highest ever
- Deal wins TCV USD 3,794 million, up 41.6% YoY; AGM scheduled 17th July 2026
🔢 Key Numbers — exact figures from BSE filing, not rounded
FY26 Revenue (INR)
₹56,815 crores
7.2%
FY26 EBIT (INR)
₹7,152 crores
39.2%
FY26 PAT (INR)
₹4,811 crores
13.2%
EBIT Margin (FY26)
12.6%
290 bps
FY26 Revenue (USD)
USD 6,385 Million
1.9% (0.6% constant currency)
FY26 EBIT (USD)
USD 797 Million
31.4%
Free Cash Flow (FY26)
USD 616 Million
Deal Wins TCV (FY26)
USD 3,794 Million
41.6%
Q4 Revenue (INR)
₹15,076 crores
12.6% YoY
Q4 EBIT (INR)
₹2,084 crores
48.3% YoY
Final Dividend
₹36 per share
Total FY26 Dividend
₹51 per share
Cash & Equivalents (Q4)
₹8,456 crores
Total Headcount
147,623
-1,108 YoY
🏢 How This Affects the Company
Deal wins TCV USD 3,794 million (up 41.6% YoY) with consecutive quarterly deal wins exceeding USD 1 billion signal strengthened client confidence. Q4 marked highest YoY constant currency growth in 3 years, reflecting robust pipeline and AI-led transformation capabilities.
EBIT margin expanded to 12.6%, up 290 bps YoY, for tenth consecutive quarter of expansion. PAT ₹4,811 crores increased 13.2% YoY. Cash position ₹8,456 crores provides capital for shareholder returns and growth investments.
Headcount at 147,623, down 1,108 YoY. LTM IT attrition at 12.1%. Days of Sales Outstanding at 89 days indicates steady working capital management.
Headcount decline and attrition tracking require sustained focus on talent retention in competitive IT market. Revenue growth in constant currency (0.6% YoY) significantly trails reported growth, reflecting FX headwinds.
👥 What This Means For Shareholders
✅
Action Required
Eligible shareholders must attend AGM on 17th July 2026 (3.30 p.m. IST, video conferencing) to approve final dividend. Record date is 3rd July 2026.
👤
Who Is Affected
All shareholders as of 3rd July 2026 record date entitled to final dividend of ₹36 per share. Interim dividend of ₹15 per share already paid November 2025. Total FY26 dividend ₹51 per share payable by 14th August 2026.
🔍
Management Signal
Board increased total dividend 13% over prior year, signaling confidence in cash generation and disciplined capital allocation aligned with shareholder returns framework.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
👁 Watch List — track these upcoming events
AGM on 17th July 2026 to confirm final dividend approval at 3:30 p.m. IST via video conferencing.
Dividend payment by 14th August 2026; verify credit to demat accounts for record date 3rd July 2026.
Q1 FY27 results to track if constant currency revenue growth accelerates above 0.6% baseline and deal momentum sustains.
MEDIUM RISK
Constant currency revenue growth 0.6% YoY significantly lags reported 1.9%, signaling FX headwinds. Headcount decline and 12.1% attrition require sustained talent retention focus.
💡 Investor Takeaway
FY26 EBIT ₹7,152 crores (+39.2% YoY) with margin expansion to 12.6% (up 290 bps) reflects disciplined execution. Record dividend ₹51 per share approved. Deal pipeline USD 3,794 million TCV (+41.6% YoY) confirms AI transformation demand. Constant currency growth 0.6% YoY flags FX headwinds.
⚖️ Strengths & Concerns
✅ Positives
- EBIT margin 12.6%, up 290 bps YoY, with tenth consecutive quarter of expansion demonstrates operational leverage.
- Deal wins USD 3,794 Mn up 41.6% YoY; consecutive quarters exceeding USD 1 billion signal strong transformation demand.
⚠️ Concerns
- Constant currency revenue growth 0.6% YoY substantially trails reported 1.9%, indicating meaningful FX headwinds on USD revenues.
- Headcount declined 1,108 YoY; attrition at 12.1% signals retention pressures in tight talent market.
📅 Company Track Record
Tech Mahindra (CIN: L64200MH1986PLCO41370) declared ₹51 per share total dividend for FY26, described as highest ever. Margin expanded for tenth consecutive quarter. Free cash flow USD 616 million provides strategic flexibility. Company not classified as Large Corporate per SEBI October 2023 criteria.
Based on publicly available historical data. For context only.