Information Technology Sector — Q1 FY26 Earnings Overview
4 companies reported. 1 bullish, 2 neutral, 1 bearish.
Average revenue growth: 1.9%
Sector sentiment: neutral
Aggregate revenue: ₹1,10,826 Cr
Average margin: 3.5%
Company Results
| Company | Revenue | YoY | Margin | Sentiment |
|---|---|---|---|---|
| TCS | ₹63,437 Cr | +1.3% | — | bearish high |
| HCLTech | ₹30,349 Cr | +3.7% | — | neutral medium |
| Tech Mahindra | ₹13,351 Cr | +2.7% | 14.0% | neutral medium |
| Coforge | ₹3,689 Cr | — | — | bullish high |
Key sector risks this quarter
Tech Mahindra · high
Tariff uncertainty and client spending cuts continue to pressure the Manufacturing vertical, which declined 4% YoY.
Tech Mahindra · highA key semiconductor client implemented sharp budget cuts and workforce reductions, causing a 3.3% YoY decline in Hi-Tech.
TCS · highCEO noted that until most trade deals are announced, lack of clarity will persist, potentially delaying decision-making further.
HCLTech · highRestructuring costs and lower utilization from skill mismatches could persist into Q2, weighing on margins.
Tech Mahindra · mediumDespite strong deal wins, revenue momentum has lagged; management's expectation of improvement from Q2 may be delayed if macro worsens.