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Mastek Limited (MASTEK) investor relations material

Mastek Limited Q2 25/26 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 25/26 earnings summary17 Oct, 2025

Executive summary

  • Q2 FY26 operating revenue reached ₹940.4 crore (INR 940 crores), up 8.4% YoY and 2.8% sequentially, with constant currency growth of 0.2%.

  • Operational EBITDA was ₹145.5 crore, a 6% sequential increase and 1.7% YoY growth, with an EBITDA margin of 15.5%.

  • Net profit stood at ₹97.4 crore, up 6% QoQ but down 24% YoY due to an exceptional gain in the base quarter; normalized profit grew 14% YoY.

  • 12-month order backlog reached $280 million (₹2,484.3 crore), up 2.2% sequentially and 6.8% YoY, driven by strong deal conversions and renewals, especially in the UK.

  • Secured 25+ new AI deals across technology, business, and data segments, with major wins in government, healthcare, and technology sectors.

Financial highlights

  • Q2FY26 revenue from operations: ₹940.4 crore ($108.2 mn), up 8.4% YoY and 2.8% QoQ.

  • Operating EBITDA: ₹145.5 crore, margin at 15.5% (up 46bps QoQ, down 103bps YoY).

  • PAT: ₹97.4 crore, margin at 10.2% (up 25bps QoQ, down 455bps YoY).

  • DSO improved to 80 days from 82 in Q1 and 95 in Q2 last year, reflecting strong working capital discipline.

  • Revenue per resource continues to rise, driven by AI-led efficiency and attrition management.

Outlook and guidance

  • Focus remains on geodiversity, AI-led business, and mid-market leadership, with digital transformation and integration of recent acquisitions as key drivers.

  • Expectation of continued steady profitability and growth, with AI for business transformation anticipated to drive significant industry change in FY27.

  • Strategic priorities include expanding AI capabilities, leveraging partnerships, and driving operational efficiencies.

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Frequently asked questions

Mastek Limited is an Indian IT solutions provider offering digital transformation and enterprise technology services. The company delivers consulting, cloud services, application development, and data analytics solutions to businesses across industries including healthcare, government, financial services, and retail. Mastek operates globally, serving public and private sector clients with a focus on agile delivery and system modernization. The company is headquartered in Mumbai, India, and its shares are listed on the NSE.

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