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Tata Technologies in Q1FY27 reported revenue of US$175.4 mn

ICICIdirect Research 20 Jul 2026 DISCLAIMER

News: Tata Technologies in Q1FY27 reported revenue of US$175.4 mn, up 4.3% QoQ & 25.2% YoY in CC terms. In rupee terms, revenues were ₹1,664.6 crore, up 5.9% QoQ/33.8% YoY. Its services segment revenue stood at US$136.6 mn, up 4.3% QoQ/24.4% YoY in CC terms. Reported EBITDA margins came at 16.1%, up 10 bps QoQ. Reported PAT stood at ₹180.8 crore, up 11.3% QoQ (adjusted for Q4FY26 one-off related to new labour code)/6.1% YoY. LTM attrition came in at 16.0% vs 16.2% in Q4FY26. 

View: Tata Technologies delivered a strong Q1FY27 performance, with broad-based growth and management's confidence in strong double-digit organic growth for FY27 strengthening further. Healthy large-deal momentum, including the US$100 mn Tenneco engagement and full-vehicle program with a Japanese OEM, coupled with growth in automotive non-anchor accounts, aerospace and embedded & software, improves medium-term revenue visibility. Management expects growth to accelerate through FY27, supported by improving deal conversions and outsourcing demand. Margins could see some near-term pressure from upfront investments in large program ramp-ups, wage hikes and temporary headwinds in Germany; however, management expects sequential margin improvement in Q2 and remains confident of medium-term expansion led by scale, utilization, productivity and AI-led efficiencies.

Impact: Positive

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