Tech Mahindra — Q3 FY26
Tech Mahindra delivered a strong Q3 FY26 with revenue of INR 14,393 crore, up 8.3% YoY, and operating margin expanding 290 bps YoY to 13.1%.
bullish
high
✓ Verified against BSE filing
Indian management teams deliver on roughly 12% of specific earnings-call promises. A low score does not indicate dishonesty — it reflects how aspirational forward guidance typically is.
Q2 FY26
Second half of FY26 expected to be better than first half
Management expects improved performance in H2 driven by operational efficiencies and improved demand visibility, despite seasonal furloughs in Q3.
Missed
Current-quarter commentary contains related risk or weakness, so the promise appears not to have been delivered yet.
heuristic_v1
Q2 FY26
Net new deal TCV expected to approach $1 billion
Management aims to increase quarterly net new deal TCV closer to $1 billion, up from current $816 million, driven by a rich pipeline.
Missed
Current-quarter commentary contains related risk or weakness, so the promise appears not to have been delivered yet.
heuristic_v1
Q2 FY26
Capital allocation policy: return 85%+ of free cash flow to shareholders
Board recommended dividend of INR 15 per share; committed to returning at least 85% of free cash flow to shareholders.
Partial / close
Current-quarter commentary contains related evidence, but delivery is not conclusive enough for a clean met verdict.
heuristic_v1