Information Technology Sector — Q2 FY26 Earnings Overview
4 companies reported. 4 bullish, 0 neutral, 0 bearish.
Company Results
| Company | Revenue | YoY | Margin | Sentiment |
|---|---|---|---|---|
| TCS | ₹65,799 Cr | +2.4% | 25.2% | bullish high |
| HCLTech | ₹31,942 Cr | +10.7% | — | bullish high |
| Tech Mahindra | ₹13,995 Cr | +5.1% | — | bullish high |
| Coforge | ₹3,986 Cr | — | — | bullish high |
Key sector risks this quarter
Management noted that the macro environment remains slow, with no dramatic growth expected next year, which could impact revenue growth.
Tech Mahindra · mediumUnder 1% of global workforce on H1B visas; potential regulatory changes could increase costs or limit talent availability, though management considers it manageable.
Tech Mahindra · mediumA semiconductor client significantly scaled down operations last quarter, impacting revenue; similar events could recur in the $20M+ client bucket.
Tech Mahindra · mediumEuropean telecom business faced localized challenges, causing a decline in the communications vertical; recovery expected but uncertain.
Coforge · mediumAnnual wage hike effective October 1, 2025, expected to cause a 100-150 bps margin drop in Q3, partially offset by other levers.