Tech Mahindra bags $809 mn in deal wins; Centrum ups target to ₹1,821

 Revenue grew 2.7% YoY to ₹13,351 crore. In dollar terms, revenue stood at $1,564 million, up 0.4% YoY, with an improved EBIT margin of 11.1%
| Photo Credit:
ADNAN ABIDI/Reuters

The shares of Tech Mahindra Limited were trading at ₹1,580.50 down by ₹27.40 or 1.70 per cent on the NSE at 11.22 am.

Tech Mahindra reported a 34 per cent year-on-year increase in earnings before interest and tax (EBIT) to ₹1,477 crores for the quarter ended June 30, 2025, with margins expanding by 260 basis points. The IT services company’s profit after tax rose 34 per cent to ₹1,141 crores, while revenue grew 2.7 per cent to ₹13,351 crores.

The company secured new deal wins worth $809 million during the quarter, representing a 51 per cent year-on-year growth. In dollar terms, revenue stood at $1,564 million, up 0.4 per cent from the previous year, while EBIT margin improved to 11.1 per cent.

CEO Mohit Joshi attributed the performance to disciplined execution and focused strategy, noting that deal wins increased 44 per cent on a last twelve months basis. CFO Rohit Anand highlighted seven consecutive quarters of margin expansion driven by the Project Fortius program.

The company’s headcount reached 148,517 employees, up 897 from the previous year, while attrition stood at 12.6 per cent. Free cash flow was reported at $86 million for the quarter.

Brokerage firm Centrum maintained its ADD rating on the stock with a revised target price of ₹1,821, citing consistent margin improvement trajectory. The firm expects revenue, EBITDA, and profit after tax to grow at compound annual growth rates of 7.7 per cent, 19.1 per cent, and 22.5 per cent respectively over FY25-FY28.

Published on July 17, 2025