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Nifty MidSmall IT & Telecom Results: Latest Quarterly Results & Analysis

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Cyient Ltd. 23 Apr 2026 17:29 PM
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Q4FY26 & FY26 Result Announced for Cyient Ltd.

IT Consulting & Software company Cyient announced Q4FY26 & FY26 results

Q4FY26 Financial Highlights:

  • Revenue at Rs 1,500 crore, with QoQ growth of 0.8% and YoY growth of 7.4%.
  • CC Revenue de-growth at 2.4% QoQ and at 1.5% YoY.
  • EBIT of Rs 185 crore, with a margin of 12.4%.
  • PAT at Rs 138 crore, with YoY de-growth of 9.1%.
  • Free cash flow (FCF) at Rs 226 crore, FCF to Normalised PAT conversion 163.1%.

FY26 Financial Highlights:

  • Revenue at Rs 5,819 crore, YoY growth of 5.5%.
  • CC Revenue de-growth at 0.7% YoY.
  • EBIT of Rs 712 crore, with a margin of 12.2%.
  • PAT at Rs 588 crore, with YoY growth of 7.2%.
  • Free cash flow (FCF) at Rs 731 crore, FCF to Normalised PAT conversion 124.3%.

Krishna Bodanapu, Executive Vice Chairman & Managing Director, Cyient, said: “In FY26, Cyient Group sustained its growth momentum, with sequential QoQ growth, delivering results in line with expectations across key segments. Our strong cash flow and cash position gives us the confidence to invest in the business as well as return value to shareholders.

Cyient Semiconductors delivered a strong Q4 with revenues of USD 7.2 million, marking our fourth consecutive quarter of QoQ growth. We have built a strong foundation across high-end services, turnkey ASICs, and proprietary application-specific products – positioning us as India’s largest custom chip company. As we enter FY27, the Board has agreed in principle to explore a market fundraise through a mix of debt and/or equity to support growth, and I am confident that disciplined execution and our strong leadership, IP, and pipeline will continue to propel our trajectory.”

“The Board of Directors trust the fundamentals of our business and believe that its intrinsic value is not reflected in the current market price and hence have approved a proposal for buy back of equity shares, through a tender offer at a price of Rs 1125 per equity share, for an aggregate consideration not exceeding Rs 720 crore. While we are making a buyback, we are confident that we will have strong cash flow to invest in future growth.

I am confident that with the leadership team, a scalable and resilient operating model, and a value-driven culture, we remain focused on driving profitable growth and long-term value creation.”

Sukamal Banerjee, Executive Director & Chief Executive Officer, Cyient, said: “FY26 has been a year of Stabilization & Transformation. Cyient DET ended the year with a positive YoY growth in order intake across all our businesses in H2. We have won several notable deals this quarter, including key wins in the technology services and core markets. We also achieved significant QoQ and YoY growth in Transportation and Mobility.

Behind the numbers is a deliberate focus on three strategic initiatives - market impact, technology adoption, and organizational effectiveness. Over the last year, we have sharpened our go-to-market approach, deepened our digital and AI capabilities, and improved how we operate as a business. This quarter’s revenue reflects the broader market environment, but the business fundamentals are sound. New order wins, consistent delivery, and a focused portfolio are in the right direction.

We are building to be a more integrated, more relevant, and more valuable engineering lifecycle partner for our customers. Our strength has always been domain expertise, and that endures. What will win is layering AI and digital technologies on top of deep domain knowledge and human expertise. That is exactly what differentiates Cyient.”

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IT Consulting & Software company Oracle Financial Services Software announced Q4FY26 & FY26 results

Q4FY26 Financial Highlights:

  • Revenue was Rs 2,065 crore, up 20%.
  • Operating income was Rs 1,049 crore, up 39%.
  • Net income was Rs 842 crore, up 31%.
  • Products business posted revenue of Rs 1,871 crore, up 21%.
  • Services business posted revenue of Rs 194 crore, up 11%.

FY26 Financial Highlights:

  • Revenue was Rs 7,672 crore, up 12%.
  • Operating income was Rs 3,410 crore, up 13%.
  • Net income was Rs 2,639 crore, up 11%.
  • Products business posted revenue of Rs 6,942 crore, up 12%.
  • Services business posted revenue of Rs 730 crore, up 16%.

Makarand Padalkar, Managing Director & Chief Executive Officer, Oracle Financial Services Software, said: “We are pleased to report the fiscal year results with strong growth of 12% in revenues, 13% in operating income, and 11% in net income.”

“The strategic partnerships and close synergies of our sales, marketing, and development engines position us strongly to gain market leadership. Our cloud offerings are transforming banking with embedded AI capabilities and intelligent agents. Financial institutions can now leverage an enterprisegrade suite of AI-powered applications and pre-built agents across banking, payments, analytics, risk management, compliance, lending, etc. automating critical processes, accelerating decisions, driving growth, and increasing business momentum.

Advances in AI-powered tools have significantly increased efficiency, enabling us to reorganize our engineering, consulting, and other teams into leaner and higher-performing units. These capabilities allow us to develop products and deliver offerings faster with a nimble workforce in a cost-effective manner.”

Avadhut Ketkar, Chief Financial Officer, Oracle Financial Services Software, said: “We delivered an operating margin of 51% and net margin of 41% in this quarter.”

“For the quarter, our revenues, operating income, and net income grew 20%, 39% and 31% YoY respectively. Our operating metrics are healthy. We have a strong deal pipeline with our Remaining Performance Obligations as of March 31, 2026, at Rs 7,761 crore, 9.2% higher than as of December 31, 2025. All this is a result of our innovation leadership that offers modern solutions to our customers adding value for a disciplined conduct of business.”

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IT Consulting & Software company L&T Technology Services announced Q4FY26 & FY26 results

Q4FY26 Financial Highlights:

  • Revenue of Rs 28,579 million for the quarter; up 8.3 % YoY and 2.5% QoQ.
  • EBIT of Rs 4,349 million for the quarter; EBIT margin at 15.2%.
  • Net Income of Rs 3,467 million for the quarter; margin at 12.1%.

FY26 Financial Highlights:

  • Revenue of USD 1,321 million for the year; up 4.9%.
  • EBIT margin at 14.1%.
  • Net Income margin at 11.3%.
  • Final Dividend of Rs 40 per share; Dividend pay-out ratio of 48% for the year.
  • ROE of 20.4% for the year.

Amit Chadha, CEO & Managing Director L&T Technology Services, said: Looking Ahead at the Technology Shifts, Consumption patterns and Business Landscape over the next 5 years, we recalibrated our portfolio to focus on profitable growth business, driven by forward-looking technologies.

For FY26, LTTS’ revenue from continuing operations delivered a growth of 8.3% at USD 1,233 million, while the total revenue (including discontinued operations) grew 5% to USD 1,321 million. The quarterly revenue reflects the conscious exit from low-margin and non-strategic businesses, which has improved the EBIT margins further to 15.2% in Q4FY26.

LTTS continued with its large deal momentum in Q4, delivering an average TCV of ~USD 200 million for the sixth consecutive quarter. FY26 recorded total large deals at USD 855 million, up 40% over the previous year. In Q4, the majority of the wins came from Mobility and Sustainability, laying a pathway for robust growth in these segments in the current fiscal.

This overall performance is driven by a sharper, more focused organization, anchored in our approach to Engineering Intelligence (EI), where engineering converges with AI and digital technologies to deliver higher-value solutions and differentiated outcomes for our clients. We are doubling down across technology, industrial and manufacturing while consolidating our positioning as a global Engineering Intelligence partner.

We surpassed the 235 count in AI patent filings, taking our total patent portfolio to over 1,700. LTTS has also strengthened its partnership with MIT Media Labs to explore and incubate forward looking technologies such as Multimodal AI, Multisensory Intelligence, Signal Kinetics and Personal Robotics.

Under the 5-year Lakshya 31-Plan, LTTS will align all decisions around a 5-vector Growth framework and sharpen its focus on Six Large Technology Bets, including EI, which will further accelerate momentum across its three segments - Mobility, Sustainability and Tech. We remain cautiously optimistic in the near term, and as part of the Lakshya plan, we aspire to deliver 13 – 15% CAGR over the next 5 years with EBIT margins in the range of 16 – 17%.

We are pleased to announce a final dividend of 40 per share, representing a dividend pay-out ratio of 48% for the year and thank all our stakeholders for their constant encouragement and belief in us.

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Telecom Services company Tata Communications announced Q4FY26 & FY26 results

Q4FY26 Financial Highlights:

  • Gross Revenue: Rs 6,554 lakh against Rs 5,990 lakh during Q4FY25, change 9%.
  • EBITDA: Rs 1,284 lakh against Rs 1,122 lakh during Q4FY25, change 14%.
  • EBITDA Margin: 19.6% for Q4FY26.
  • PAT: Rs 263 lakh against Rs 761 lakh during Q4FY25, change -65%.
  • PAT Margin: 4% for Q4FY26.

FY26 Financial Highlights:

  • Gross Revenue: Rs 24,803 lakh against Rs 23,109 lakh during FY25, change 7%.
  • EBITDA: Rs 4,822 lakh against Rs 4,569 lakh during FY25, change 6%.
  • EBITDA Margin: 19.4% for FY26.
  • PAT: Rs 1,044 lakh against Rs 1,625 lakh during FY25, change -36%.
  • PAT Margin: 4.2% for FY26.

Ganesh Lakshminarayanan, MD & CEO Designate, Tata Communications, said: “Q4 has been a strong quarter with our digital portfolio continuing to drive data growth. Our balance sheet strengthened further, with net debt-to-EBITDA improving to below 2x. This quarter, we had some interesting deal wins around network transformation, multi-cloud connectivity and employee interaction capabilities for enabling GCCs. These reflect the inherent strength of Tata Communications’ ability to serve global enterprises through a unified, scalable digital infrastructure for the AI era. This, along with our benchmark NPS scores positions us as truly global Communications Technology player in the making.”

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IT Consulting & Software company Tata Elxsi announced Q4FY26 & FY26 results

Q4FY26 Financial Highlights:

  • Revenue from operations: Rs 99,375.12 lakh against Rs 90,833.56 lakh during Q4FY25, change 9%.
  • PBT: Rs 26,777.25 lakh against Rs 22,144.85 lakh during Q4FY25, change 21%.
  • PAT: Rs 22,035.13 lakh against Rs 17,241.85 lakh during Q4FY25, change 28%.
  • EPS: Rs 35.37 for Q4FY26.

FY26 Financial Highlights:

  • Revenue from operations: Rs 3,75,742.37 lakh against Rs 3,72,904.83 lakh during FY25, change 1%.
  • PBT: Rs 82,510.91 lakh against Rs 1,02,840.4 lakh during FY25, change -20%.
  • PAT: Rs 62,843.03 lakh against Rs 78,493.68 lakh during FY25, change -20%.
  • EPS: Rs 100.89 for FY26.

Manoj Raghavan, CEO & Managing Director, Tata Elxsi, said: “For Q4FY26, Tata Elxsi reported operating revenue of Rs 993.8 crores and PBT margin at 25.6%. We ended FY26 with a revenue of Rs 3,757.4 crores and PBT margin of 23.4%. The company registered a healthy QoQ growth of 4.2%.

Our Media & Communications business, which accounted for 32.7% of revenue during the quarter, registered a strong growth 5.6% QoQ in constant currency terms over the previous quarter. This growth was led by continued deal ramp-ups, a strategic deal for AdTech and a Tier 1 US Telco win. In the quarter, we also won a multi-year large deal from a world-leading device OEM for its portfolio of video and broadband products. This strategic deal reinforces Tata Elxsi’s position as a global leader in device engineering for media and telecom.

In our transportation business, while our revenues in Q4FY26 consolidated after a strong 7.3% QoQ constant currency in Q3FY26, we are delighted with two strategic wins – one in APAC region from a new-age OEM, and another from the US from a next-generation mobility services company. These multi-year deals underscore the pivot towards SDV and OEM business, with OEM business now representing 77% of overall revenues for our transportation business.

During the quarter, we launched an Offshore Development Centre for Terumo, the Japanese MedTech leader, to accelerate innovation and development of cardiac and vascular medical devices. This center brings together multi-disciplinary teams across design, engineering and software, enhanced by the latest AI and GenAI-powered technologies, to help Terumo bring next-gen medical technologies to global and emerging markets.

During FY26, Tata Elxsi accelerated its enterprise-wide GenAI adoption, marked by the launch of DevStudio.ai and partnerships with leading AI companies, to embed AI responsibly across engineering, design, and delivery. With strong governance around data security, IP protection, and compliance, these initiatives are scaling beyond pilots to deliver measurable productivity gains, faster time-to-market, and improved customer outcomes. By combining domain-led AI, talent enablement, and platform-based accelerators, Tata Elxsi is strengthening its innovation quotient, long-term competitiveness, depth of client engagements, and margin expansion.

I am pleased with our sustained and strong operational performance through segment-leading offshore delivery, a continued transition to fixed-bid project ownership, and the systematic and enterprise-wide adoption of AI-enabled efficiencies. These levers strengthened execution discipline and productivity, driving consistent margin improvement through the year.

We closed the financial year with a consistent performance, reflecting improved execution, disciplined cost management, and continued confidence from our global customers. Growth traction across our core verticals, supported by increasing large deal wins, strong customer additions, and sustained investments in AI-led platforms and digital engineering, positions us well for the year and beyond. As we enter the next financial year, we remain focused on scaling our differentiated design-led and AI-enabled offerings, strengthening operational leverage, and driving sustainable growth and healthy margins.”

Result PDF

IT Consulting & Software company Persistent Systems announced Q4FY26 & FY26 results

Q4FY26 Financial Highlights:

  • Revenue from operations: Rs 40,559.4 million against Rs 32,421.12 million during Q4FY25, change 25%.
  • PBT: Rs 6,739.8 million against Rs 5,052.08 million during Q4FY25, change 33%.
  • PAT: Rs 5,292.6 million against Rs 3,957.6 million during Q4FY25, change 34%.
  • EPS: Rs 33.83 for Q4FY26.

FY26 Financial Highlights:

  • Revenue from operations: Rs 1,47,484.5 million against Rs 1,19,387.2 million during FY25, change 24%.
  • EBIT: Rs 23,034.7 million against Rs 17,512.6 million during FY25, change 32%.
  • PBT: Rs 24,112.1 million against Rs 18,223.1 million during FY25, change 32%.
  • PAT: Rs 18,651.2 million against Rs 14,001.6 million during FY25, change 33%.
  • EPS: Rs 119.74 for FY26.

Anand Deshpande, Founder, Chairman & Managing Director, Persistent, said: “Our approach has consistently been to build capabilities ahead of demand. Over the past 36 years, we have invested in strengthening our engineering depth and data foundations, which are now finding greater application as AI adoption scales across enterprises. These investments are leading to deeper client relationships and a more meaningful role in how our clients are reshaping their businesses in the context of AI. We will continue to build and adapt our capabilities as the market evolves, with the same long-term discipline.”

Sandeep Kalra, Chief Executive Officer & Executive Director, Persistent, said: “We delivered 17.4% YoY revenue growth in FY26, with an EBIT margin of 15.6%. I am pleased to share that we have declared a full-year dividend of Rs 40 per share. Q4FY26 marked our 24th sequential quarter of growth, reflecting the consistency of our execution and alignment to client demand in a market being shaped by AI. As AI adoption accelerates, our AI-first strategy is strengthening our operating model and improving the quality and scale of delivery across the business.

Our growth momentum continues to be recognized in the market, with Brand Finance naming Persistent the fastest-growing IT services brand globally in 2026.

We are deeply grateful to our employees for their unwavering commitment, and to our clients, partners, and shareholders for their continued trust and belief, enabling our progress.”

Result PDF

IT Consulting & Software company Sonata Software announced Q3FY26 results

  • Revenue for Q3FY26 stood at Rs 3,080.6 crore, growth of 45.4% QoQ.
  • EBITDA (before other income and forex) for Q3FY26 stood at Rs 200.2 crore, growth of 15.9% QoQ.
  • PAT before exceptional item for Q3FY26 stood at Rs 127.5 crore, growth of 6.1% QoQ and 21.4% YoY.
  • PAT post exceptional item for Q3FY26 stood at Rs 104.4 crore.
  • Cash and cash equivalents (gross) stood at Rs 564 crore.
  • Cash and cash equivalents (net) stood at negative Rs 12 crore.
  • ROCE stood at 23.3% in Q3FY26, compared to 22.1% in Q2FY26.
  • RONW stood at 27.7% in Q3FY26, compared to 27.1% in Q2FY26.
  • The Company has declared its third interim dividend for the financial year at Rs 1.25 per share. This is in line with the commitment made during the Q1FY26 earnings call to implement a quarterly interim dividend payout policy starting this year.

Samir Dhir, MD & CEO, Sonata Software, said: International IT Services delivered steady progress during the quarter, with consolidated PAT improving significantly in the last two quarters. Following a 10% PAT growth in the previous quarter, we achieved a further 6.1% QoQ growth in the current quarter. The business secured a large deal in the BFSI vertical with a Fortune 500 fintech client, reinforcing our strategy of driving growth through large deals backed by disciplined execution. Our continued strategic investments in Artificial Intelligence contributed approximately 14% of the overall order book for the quarter.

Sujit Mohanty, MD & CEO, Sonata Information Technology, said: We delivered a seasonally strong quarter in our domestic business. Our three-pillar strategy to diversify the business is in motion, focused on building a scaled and resilient operating model. We remain confident that this strategic direction will drive a more diversified, scalable, and future-ready business.

Result PDF

Telecom Services company Bharti Hexacom announced Q3FY26 results

  • Overall customer base stands at 29.04 million.
  • Total revenues at Rs 2,360 crore, up 4.8% YoY.
  • EBITDA at Rs 1,282 crore, up 7.4% YoY; EBITDA margin at 54.3%, expansion of 128 bps YoY.
  • EBITDAaL at Rs 1,124 crore, up 7.9% YoY; EBITDAaL margin at 47.6%, up by 136 bps YoY.
  • EBIT at Rs 715 crore, up 8.0% YoY; EBIT margin at 30.3%, expansion of 88 bps YoY.
  • Net Income (before exceptional items) at Rs 432 crore vs Rs 363 crore same quarter last year.
  • Net Income (after exceptional items) at Rs 474 crore vs Rs 261 crore same quarter last year.
  • Capex for the quarter was Rs 340 crore.

Result PDF

IT Consulting & Software company Hexaware Technologies announced Q4CY25 results

  • Q4CY25: USD 389 million | Rs 34,782 million.
    • USD: -1.5% QoQ and 4.5% YoY | Rs: -0.2% QoQ and 10.3% YoY.
    • Constant Currency: -1.4% QoQ and 3.5% YoY.
  • Reported EBITDA: Q4CY25: 17.0% | -60 bps QoQ & 65 bps YoY in % terms | -4.8% QoQ & 8.6% YoY in absolute terms.
  • Basic EPS: Q4CY25: Rs 4.79 | -21.3% QoQ & -8.8% YoY.

R. Srikrishna, CEO, said: ” With rapidly improving capabilities of AI, our most important strategy is speed and agility. We are challenging ourselves to launch a new service enabled by AI every month and take every new service to our most important customers within 90 days from launch.

While CY25 was a challenging year for the industry, we have accelerated deal wins in the later part of the year that sets us up for a better CY26.”

Vikash Jain, CFO, said: “This year, we navigated a challenging macroeconomic environment with disciplined execution, resulting in healthy margin expansion on YoY basis. Our continued discipline on working capital management led to a very healthy cash flow conversion of 75% . This year we also closed two capability led acquisitions. We are excited about our future growth and long-term value creation”

Result PDF

Telecom Cables company HFCL announced Q3FY26 results

  • Revenue: Rs 1,210.79 crore against Rs 1,011.95 crore during Q3FY25, change 20%.
  • PBT: Rs 138.11 crore against Rs 100.26 crore during Q3FY25, change 38%.
  • PAT: Rs 81.35 crore against Rs 22.37 crore during Q3FY25, change 264%.
  • EPS: Rs 0.47 for Q3FY26.

Result PDF

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