Techm / Q4-FY25

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Watch2025-04-26Back to TECHM

Revenue

₹13,384 Cr

verified against source

Revenue YoY

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reported change

EBITDA

Pending

latest reported figure

Source

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Actual signal trajectory

Where this quarter sits.

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Revenue (₹ Cr)PositiveWatchNegative
11 actual records
Actual quarterly Revenue (₹ Cr) trajectoryReported values plotted by quarter. Hover or focus a point for its quarter, value, and source sentiment.Q1 FY24: 13,159 · Negative source sentiment · 2023-07-20Q1 FY24Q2 FY24: 12,864 · Negative source sentiment · 2023-10-24Q2 FY24Q3 FY24: 13,101 · Negative source sentiment · 2024-01-17Q3 FY24Q4 FY24: 12,871 · Watch source sentiment · 2024-04-30Q4 FY24Q1 FY25: 13,006 · Watch source sentiment · 2024-07-24Q1 FY25Q2 FY25: 13,313 · Positive source sentiment · 2024-10-22Q2 FY25Q3 FY25: 13,286 · Positive source sentiment · 2025-01-17Q3 FY25Q4 FY25: 13,384 · Watch source sentiment · 2025-04-26Q4 FY25Q1 FY26: 13,351 · Watch source sentiment · 2025-08-12Q1 FY26Q2 FY26: 13,995 · Positive source sentiment · 2025-10-24Q2 FY26Q3 FY26: 14,393 · Positive source sentiment · 2026-01-15Q3 FY2614,39312,864
Values are taken from the available verified source records; sentiment color is a separate source-read indicator.

Quarter read

What the record says.

Tech Mahindra reported Q4 FY25 revenue of $1,549M (flat YoY, -1.5% CC QoQ) and full-year revenue of $6,264M (+0.3% CC). EBIT margin expanded 310bps YoY to 10.5% in Q4, driven by Project Fortius savings and portfolio pruning. Full-year EBIT margin was 9.7%, up 360bps YoY. Deal wins surged 42.5% YoY to $2.7B TCV, with two >$100M deals in Q4. BFSI grew 5.2% YoY, while Comms declined 4.2%. Management highlighted macro headwinds in US auto and high-tech, but sees stabilization in European/APAC telecom. FY27 targets of peer-leading growth and 15% EBIT margin remain, but FY26 faces macro uncertainty. Risk: tariff impacts and delayed discretionary spending could pressure near-term revenue.

Colored figures show movement against the previous available record.

Guidance to track

  • Management reiterated commitment to 15% EBIT margin by FY27, with linear improvement expected through Project Fortius and portfolio mix.
  • Goal to achieve revenue growth above peer average by FY27, supported by deal wins and market share gains.
  • CFO indicated that the current deal win range of $600M-$800M per quarter is sufficient to support growth targets, with potential to increase if environment improves.
  • Planned investments in service line capabilities, ecosystem, and talent, including consulting and AI, with ~1% margin impact from wage hikes and investments.

Risks flagged

  • Management noted softness in US high-tech and auto sectors, with delayed BPS ramp-ups and cautious discretionary spending.
  • While telecom is currently exempt from tariffs, potential tariff changes and consumer slowdown could pressure client spending.
  • Analyst questioned whether prudent deal strategy could be a risk if competitors become more aggressive on pricing.
  • Management acknowledged that margin expansion requires revenue growth, and current macro stress may delay FY27 targets.

Key quotes

  • We have moved from being somewhere in the median to being in the top quartile in a single year.
  • Our strategic narrative for AI is AI Delivered Right because we feel that implementation is as important as invention.
  • I told him the secret of happiness is low expectations.

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