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Mastek Results: Latest Quarterly Results & Analysis

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Mastek Ltd. 17 Apr 2026 16:16 PM
Result PDF

Q4FY26 & FY26 Result Announced for Mastek Ltd.

IT Consulting & Software company Mastek announced Q4FY26 & FY26 results

Q4FY26 Financial Highlights:

  • Revenue from operations: Rs 93,800 lakh against Rs 90,542 lakh during Q4FY25, change 4%.
  • PBT: Rs 12,523 lakh against Rs 10,592 lakh during Q4FY25, change 18%.
  • PAT: Rs 10,615 lakh against Rs 8,107 lakh during Q4FY25, change 31%.
  • EPS: Rs 34.25 for Q4FY26.

FY26 Financial Highlights:

  • Revenue from operations: Rs 3,69,875 lakh against Rs 3,45,523 lakh during FY25, change 7%.
  • PBT: Rs 52,122 lakh against Rs 45,916 lakh during FY25, change 14%.
  • PAT: Rs 40,400 lakh against Rs 37,593 lakh during FY25, change 7%.
  • EPS: Rs 130.45 for FY26.

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IT Consulting & Software company Mastek announced Q3FY26 results

  • Revenue: Rs 905.7 crore against Rs 869.5 crore During Q3FY25, change 4%.
  • EBITDA: Rs 145.6 crore against Rs 140.7 crore During Q3FY25, change 3%.
  • EBITDA Margin: 16.1% for Q3FY26.
  • PAT: Rs 108.4 crore against Rs 94.7 crore During Q3FY25, change 14%.
  • PAT Margin: 11.7% for Q3FY26.
  • EPS: Rs 34.7 for Q3FY26.

Umang Nahata, Chief Executive Officer, Mastek, said: “In Q3FY26, our revenue declined by 3.7% QoQ in rupee terms, primarily due to higher furloughs, planned project go-livesin the US and AMEA, and right-shift of a few engagements. Despite these near-term headwinds and seasonal softness, we continue to execute with operational discipline and AI led efficiencies resulting in another quarter of healthy EBITDA QoQ growth of 60 bps. Our 12 months order backlog grew 7.0% sequentially, and the pipeline remains strong across the UK, US and AMEA. We see good demand in Healthcare segment and AI-led solutions globally.

Our AI-led services continue to scale, we closed 26 new engagements delivering significant ROI for our customers using Generative and Agentic AI deployments. We added 17 new clients in the quarter, taking the total active client to 333.

We remain committed to drive innovation and value for our clients, leveraging our AI-first approach. We are confident in our long-term strategy and our ability to deliver sustainable and profitable growth.”

Deepak Kedia, Chief Financial Officer, Mastek, said: “We reported operating EBITDA margin of 16.1%, an increase of 60 bps QoQ, this was after factoring in the impact of labour code changes and furloughs. Our PAT grew by 11.2% sequentially, with a 149 bps expansion in PAT margin resulting in increase of EPS to Rs 34.7. We had a strong quarter adding Rs210 crores in terms of operating cash . We have declared an interim dividend of 160% or Rs 8 per share.”

Result PDF

IT Consulting & Software company Mastek announced Q2FY26 results

  • Revenue from Operations: Rs 940.4 crore compared to Rs 867.4 crore during Q2FY25, change 8.4%.
  • EBITDA: Rs 145.5 crore compared to Rs 143.1 crore during Q2FY25, change 1.7%.
  • EBITDA Margin: 15.5% for Q2FY26.
  • PAT: Rs 97.4 crore compared to Rs 128.7 crore during Q2FY25, change -24.3%.
  • PAT Margin: 10.2% for Q2FY26.
  • EPS: Rs 31.2 for Q2FY26.

Umang Nahata, Chief Executive Officer, Mastek, said: “We are pleased to deliver another quarter of consistent performance, with revenue growing 2.8% QoQ in rupee terms. Growth was led by strong traction in the UK and Europe, driven by healthcare and secured government services, alongside continued momentum across Digital Engineering and Data, Automation, & AI-led transformation programs. The US business remained stable, despite continued geo-political uncertainties. Overall pipeline and order backlog remain resilient.

Operating EBITDA margin improved by 46bps QoQ to 15.5%, aided by enhanced delivery efficiencies and continued cost optimisation. PAT grew 5.9% QoQ, reflecting strong operational discipline. The 12-month order backlog increased 13.2% YoY in rupee terms, driven by sustained demand across service lines.

Our AI-led services continue to gain significant traction with close to 100 active engagements where we are delivering tangible ROI gains deploying Generative and Agentic AI. Our deep involvement with UK healthcare to modernise and enable secure, cloud-native, patient-centric environments further strengthens our position in the healthcare ecosystem.

Backed by a strong AI momentum and trusted client relationships, we remain confident of delivering sustainable and profitable long-term growth.”

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IT Consulting & Software company Mastek announced Q1FY26 results

  • Revenue from Operations: Rs 914.7 crore compared to Rs 812.9 crore during Q1FY25, change 12.5%.
  • EBITDA: Rs 137.3 crore compared to Rs 123.9 crore during Q1FY25, change 10.8%.
  • EBITDA margin: 15.0% for Q1FY26.
  • PAT: Rs 92.1 crore compared to Rs 71.5 crore during Q1FY25, change 28.7%.
  • PAT margin: 9.9% for Q1FY26.

Umang Nahata, Chief Executive Officer, Mastek, said: “We are pleased to report another steady quarter, with revenue growth of 12.5% YoY in rupee terms. Growth was led by strong performance in the UK and Europe, driven by momentum in healthcare and secured government services. The US business witnessed headwinds in some accounts, however pipeline and order backlog remain strong.

Operating EBITDA margin stood at 15.0%, declined marginally by 31 bps due to ongoing investments in talent and capabilities. On a YoY basis, Operating EBITDA grew by 10.8%. PAT grew to Rs 92.1 crore, up 13.5% QoQ and 28.7% YoY.

Our 12-month order backlog grew 8.3% YoY in rupee terms, supported by strong demand across Digital Engineering and Data, Automation & AI. Oracle-led engagements in healthcare and commercial sectors continuing to scale.

Our AI proposition is building tremendous traction with customers with over 10 deals finalised this quarter across generative and agentic AI solutions delivering significant productivity gains. We also signed a strategic partnership with Open Ana which significantly elevates our AI capabilities.

While the external environment remains dynamic, our execution focus, combined with deep client relationships, positions us well to deliver sustainable and profitable growth in the coming quarters.”

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IT Consulting & Software company Mastek announced Q4FY25 results

  • Revene: Rs 905.4 crore compared to Rs 779.7 crore during Q4FY24, change 15.8%.
  • Net Profit: Rs 81.1 crore compared to Rs 94.4 crore during Q4FY24, change -14.1%.
  • Operating EBITDA at Rs 138.8 crore, up 10.9% YoY.
  • Healthcare vertical grew by 13.1% QoQ (USD terms).
  • Proposed Final Dividend of Rs 16 per share cumulating to 460% for the year.

Umang Nahata, Chief Executive Officer, Mastek, said: “We are pleased to report a steady performance in Q4FY25, delivering a revenue growth of 4.1% QoQ and 16.1% YoY in rupee terms. We closed FY25 with a strong annual revenue and PAT growth of 13.1% and 20.9% respectively in rupee terms, driven by disciplined execution across geographies and innovation across all service lines.

We continue to enhance our Data & AI capabilities across verticals, with a focused go-tomarket approach targeting Fortune 1000 clients. Our 12-month order backlog grew by 7.1% QoQ, reflecting strong order book performance sustained by demand for our Digital Engineering, Cloud and Data & AI services.

Our core business driven by UK & Europe and Oracle in US continues to grow strongly, particularly in the healthcare and commercial sectors. The UK healthcare and secured government services continue to show strong momentum, supported by the government’s 10- year modernization plan and increased investments in AI and data.

With strong cash & cash equivalent of Rs 622.2 crore in Q4FY25, we remain committed to operational efficiency and margin improvement. The Board has recommended a final dividend of Rs 16 per share cumulating to 460% for the year [prior year 380%]. While macroeconomic uncertainties persist, our sharp execution focus and deep client partnerships positions Mastek for sustainable and profitable growth in FY26 and beyond.”

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IT Consulting & Software company Mastek announced Q3FY25 results

  • Q3FY25 revenue at Rs 869.5 crore, up by 10.9% YoY.
  • PAT at Rs 94.7 crore, up 21.8% YoY.
  • PAT margin: 10.8% for Q3FY25.
  • Healthcare vertical grew by 19.6% QoQ.
  • Declared Interim Dividend of 140%.

Umang Nahata, Chief Executive Officer, Mastek, said: “We are pleased to report a stable performance in a seasonally weak quarter with revenue growth of 10.9% on YoY basis. Our UK & Europe business continues to be a key growth driver, we are seeing good momentum in healthcare, private sector including Europe. Our US business delivered steady performance with good improvement in EBITDA. We continue to steer Mastek to become an AI focused company. We expect to drive higher efficiency in delivery execution over the next four quarters using AI enabled platforms and tools. We are building a state-of-the-art AI engineering and SLM practice which will deliver business impacting AI solutions to our customers as well as continue to enhance our internal AI adoption. While geopolitical uncertainties remain on our radar, our focus on strategic growth pillars positions us well for sustainable growth.”

Arun Agarwal, Chief Financial Officer, Mastek, said: “We reported operating EBITDA of 16.2%, after taking full quarter impact of wage hikes and furloughs backed by our disciplined and consistent execution. In Q3FY25, we added 10 new clients, bringing our total active clients to 351 versus 380 last quarter, reflecting a deeper account mining and high revenue per account. We have declared an interim dividend of 140% or Rs 7 per share. We continue to remain focused on productivity and prudent resource allocation to ensure profitable growth going forward.”

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IT Consulting & Software Stocks company Mastek announced Q2FY25 results

  • Q2FY25 revenue at Rs 867 crore, up by 6.7% QoQ.
  • Revenue up by 13.3% YoY.
  • Operating EBITDA margin at 16.5%, up 125bps QoQ.
  • 12 months order backlog grew by 17.9% YoY

Umang Nahata, Chief Executive Officer, Mastek, said: “We are pleased to report another strong quarter with revenue growth of 6.7% QoQ. I am delighted to report QoQ growth of 18% in North Americas led by strong performance across sectors. Our UK & Europe business continues to deliver steady growth backed by momentum in Healthcare portfolio. We continue to focus on our strategic priorities while taking a sharp AI-first approach across all operations, enhancing our delivery capabilities, and developing innovative AI-driven solutions. I remain committed to Mastek's continued growth driven by our strategic growth pillars.”

Arun Agarwal, Chief Financial Officer, Mastek, said: “We are pleased to deliver strong financial performance with revenue of Rs 867 crore, a growth of 13.3% on YoY basis. We reported operating EBITDA margin of 16.5%, reflecting improvement of 125 bps QoQ after incorporating partial wage hikes in the quarter. Despite ongoing geopolitical developments, our deal pipeline continues to remain strong, with an order backlog of Rs 2,195 crore, a growth of 17.9% on YoY basis. We are confident in our ability to sustain healthy topline growth and profitability in the coming quarters.”

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Software & Services company Mastek announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

  • Revenue from operations: Rs 779.7 crore, up 9.9% YoY.
  • Operating EBITDA margin: 16.0%
  • Net Profit Margin: 12.0%, improved by 178 basis points YoY.
  • New clients added: 22
  • Total active clients: 430

FY24 Financial Highlights:

  • Total revenue from operations: Rs 3,054.8 crore, up 19.2% YoY.
  • Attrition rate (last twelve months): 20.5%
  • Total employee count (as of March 31, 2024): 5,539; Offshore employee count (based in India): 3,892
  • The 12-month order backlog showed a significant QoQ growth of 4.9% in rupee terms and stood at Rs 2,168.4 crore (USD 260.0 million). 
  • Mastek's Board of Directors proposed a final dividend of 240%, which translates to Rs 12 per share.

Commenting on the FY24 results, Hiral Chandrana, Chief Executive Officer, Mastek, said: "Q4FY24 revenue was below our expectations at USD 93.7mn, a marginal decline of 0.3% QoQ in dollar terms due to offshore movement of a large program, and impact of 2 clients in the US. However, we had our highest ever order book (OB) with some marquee annuity deal wins in US this quarter. FY24 was a transformational year for us, we are pleased to have delivered revenue growth of 15.8% YoY in dollar terms on a full year basis, with disciplined execution across all geographies. The demand for our Digital Engineering, Cloud and Data/Al services remains strong as reflected in our 12 month order backlog which grew 19.1% Y-o-Y in dollar terms and we are well-positioned to deliver robust growth in FY25."

Arun Agarwal, Chief Financial Officer, Mastek, said: "We reported Q4FY24 revenue of Rs 779.7 crore, a marginal decline of 0.6% Q-o-Q basis in Rs terms. However, we are confident to deliver industry-leading growth in FY25, with strong 12 month order backlog which stood at USD 260.0mn, reflecting a growth of 4.6% QoQ in dollar terms. Our operating cash flow consistently improved during the year with closing cash & cash equivalent standing at Rs 473.3 crore. In FY24, we delivered an operating EBITDA growth of 11.6% on YoY. While macro uncertainties and customer delays prevail, growth in our pipeline, key lead indicators, and strategic priorities positions us well to continue our growth journey in the coming quarters and years."

Result PDF

IT Consulting & Software company Mastek announced Q2FY24 results:

1. Financial Performance:
- Q2FY24 revenue at Rs 765.5 crore, up by 22.4% YoY
- Operating revenue up by 13.5% YoY in constant currency terms
- 12 months order backlog grew by 22.3% YoY in rupee terms

2. Operational Performance:
- Added 29 new clients in Q2FY24
- 12 months order backlog at Rs 1,861.8 crore (USD 224.2 million)
- Total active clients: 441
- Total employees: 5,598

3. Key Wins for the Quarter:
- Provided a single sign-on flagship digital program for the UK government
- Implemented Oracle cloud solutions in the healthcare industry
- Implemented ERP system for a US-based airport hospitality customer
- Delivered cloud solutions and implementation services for a European government organization
- Implemented Microsoft Dynamics 365 CRM for a leading bank in Southeast Asia
- Implemented Oracle ERP for a UK-based international ferry port

4. Acquisition Update:
- Mastek completed the acquisition of BizAnalytica, LLC in August 2023
- BizAnalytica brings data cloud and modernization expertise to Mastek

5. Strategic Priorities:
- Expanding presence in the Americas, specifically targeting healthcare, retail, and manufacturing sectors
- Continued growth in the UK public sector and expansion in Europe and the Middle East
- Differentiated talent and delivery model to attract and retain top talent
- Value-based delivery to drive business outcomes
- Strengthening strategic partnerships, particularly in the Oracle cloud
- Focus on innovation, intellectual property, and ESG (Environment, Social, and Governance)

Commenting on the Q2FY24 results, Hiral Chandrana, Chief Executive Officer, Mastek, said, “We are glad to report revenue growth of 13.5% YoY in constant currency fueled by organic growth in the US and demand for digital & cloud services. Our 12-month order backlog was USD 224.2 million, a growth of 19.8% Y-o-Y in dollar terms, with a robust Order Book from the UK. Mastek was recognized by Everest Group as Top 5 Global SI’s in Oracle Cloud Applications. We rewarded employees for their contributions and have implemented companywide salary increments during the quarter. We successfully completed the acquisition of BizAnalytica, accelerating our presence in Data Cloud and the fast-evolving Generative AI space.”

Arun Agarwal, Chief Financial Officer, Mastek, said, “We reported revenue of Rs 766 crore for the quarter, a growth of 4.4% on a QoQ basis in constant currency driven by momentum in our existing business and integration of BizAnalytica. Despite challenges such as delayed deal closures, we were able to maintain a growth trajectory in the order book. We delivered an operating EBITDA margin of 16.1% in Q2FY24 after incorporating salary hikes across the organization. We are cautious about prevailing macroeconomic conditions, however, our resilient business model, strong pipeline, and improved utilization are encouraging as we execute in H2FY24.”

 

 

Result PDF

IT Consulting & Software company Mastek announced Q1FY24 results:

  • Revenue at Rs 725.3 crore in Q1FY24 compared to Rs 570.3 crore in Q1FY23, up by 27.2% YoY
  • Signed definitive agreement to acquire BizAnalytica, LLC - a data cloud & modernization specialist
  • 12 months order backlog grew by 16.9% YoY
  • Opearting EBITDA of Rs 127 crore in Q1FY24 compared to Rs 109.2 crore in Q1FY23, up 16.3% YoY
  • Operating EBITDA at 17.5% of revenue
  • Net Profit of Rs 73.5 crore in Q1FY24 compared to Rs 84.4 crore in Q1FY23, down 12.8% YoY
  • Dituted EPS of Rs 22.7 in Q1FY24 compared to Rs 25.1 in Q1FY23

Commenting on the Q1FY24 results, Hiral Chandrana, Chief Executive Officer, Mastek, said: “We reported revenue growth of 20.2% YoY in constant currency driven by demand for Digital Engineering, Experience, and Cloud Transformation services and disciplined execution. Despite macroeconomic challenges, we maintained growth momentum and deeper engagement with our strategic clients. We are excited about opportunities in Data Cloud and Generative AI space and pleased to welcome the BizAnalytica team to the Mastek family. We are thankful to our customers, employees, and shareholders for their continued trust in Mastek.”

Arun Agarwal, Chief Financial Officer, Mastek, said: “Despite uncertain market conditions, we continued to demonstrate resilience and adaptability, maintaining stable growth and margins. During the quarter, we reported revenue of Rs 725.3 crore, a growth of 2.3% QoQ in reported currency. We continued to prioritize financial discipline and operational efficiency to drive sustainable growth, resulting in an operating EBITDA margin of 17.5%. Mastek’s capability in data cloud has been strengthened with the acquisition of BizAnalytica, and we are optimistic about our prospects to drive shareholder value for the remaining FY24 and beyond.”

 

 

Result PDF

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