Prolonged telecom weakness
Telecom vertical (37% of revenue) continues to decline with no near-term recovery expected, as 5G spending remains slow.
high · management_commentary
Tech Mahindra — Q2 FY24
Tech Mahindra reported Q2 FY24 revenue of INR 12,864 crore, down 2.2% QoQ, with EBIT margin at 4.7% (down 200bps QoQ) due to revenue decline and business rationalization costs.
bearish
high
✓ Verified against BSE filing
Risk Intelligence
Material risks this quarter
Concise cards keep the risk register scannable while preserving evidence-level context in the underlying quarter data.
Risks
Margin pressure from restructuring costs
Exceptional items of 260bps impacted Q2 margins; further one-time costs may arise in Q3 from portfolio rationalization.
medium · management_commentaryRevenue decline in top 5 clients
Top 5 client revenues have declined ~30% over six quarters due to wallet share loss and non-core business exits.
high · analyst_questionElongated deal conversion cycles
Despite healthy pipeline, deal closures are taking longer, which could delay revenue recovery.
medium · management_commentary