Macroeconomic uncertainty and client decision delays
Ongoing macro and geopolitical uncertainty could lead to delayed decision cycles and project completions, as seen in the TMT vertical softness.
MPHASIS / Q4-FY26 / risks
Keep the risk register visible.
Mphasis · Material risks, their source context, and severity in the latest available quarter.
Research layer active
ConCallIQ research layer
Signal, with the source still visible.
Use the controls below to narrow the view, then follow the evidence into the next layer of context.
Risk intelligence
Material risks this quarter
medium
Productivity pass-through pressure from AI
Increased AI-driven productivity gains may lead clients to demand price concessions, though management believes structured commercial models mitigate this.
Working capital intensity from large deals
Large annuity deals with upfront savings commitments require working capital investment, pressuring cash flow conversion to ~80% from historical >100%.
Hedge losses impacting reported margins
Hedge losses from rupee depreciation will continue to weigh on reported EBIT margins in H1 FY27, delaying the benefit of currency tailwinds.