Lumpy large deal pipeline
Large deal wins are inherently lumpy; a quarter without major closures could slow revenue growth momentum.
medium · management_commentary
Tech Mahindra — Q3 FY25
Tech Mahindra reported Q3 FY25 revenue of ₹13,286 crore (+1.4% YoY reported) and EBIT margin of 10.2% (+60bps QoQ), driven by Project Fortius savings and pricing discipline.
bullish
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
Wage hike margin headwind in Q4
Wage hikes of 1-1.5% will pressure Q4 margins; offsetting levers may not fully compensate.
medium · management_commentaryPersistent weakness in European auto and North American telco
Manufacturing declined 2.5% QoQ due to Pininfarina and European auto pressures; North American telco discretionary spend remains challenged.
high · analyst_questionForex losses from cross-currency headwinds
Significant cross-currency headwinds impacted reported revenue; hedging may not fully offset if INR depreciation continues.
medium · analyst_question