Coforge

Coforge delivered a strong FY26 with 29.2% USD revenue growthCurrent reported value: 29.2% USD revenue growth. No comparable prior figure is available in the source record., driven by broad-based vertical strength (healthcare +98%, travel +62%) and 21Current 21. Reported change: +5 YoY. large deal wins. EBITDA margins expanded 430bps YoY to 18.6%Current reported value: 430bps YoY to 18.6%. No comparable prior figure is available in the source record., aided by AI-led automation and G&A cost containment. Q4 EBIT margin hit a record 16.6%Current reported value: 16.6%. No comparable prior figure is available in the source record., up 370bps YoY. The executable order book stands at a record $1.75BCurrent reported value: $1.75B. No comparable prior figure is available in the source record., up 16.4% YoY, providing good visibility. Management guided FY27 consolidated EBITDA margins of 20.5-21% and EBIT margins of 15.5% (consolidated) / 16.5-17% (standalone), with FCF/PAT expected at 100%+. A planned exit of ~$20M low-margin India business will temporarily impact Q1 revenue, but overall growth is expected to be robust. Key risk: sustained weakness in the BFS vertical, which grew only 12% in FY26 due to a large client account issue, though management expects improvement.