Tech Mahindra Ltd.’s internet revenue is prone to rise within the quarter ended March 2025 amid a weak demand setting, as per the consensus estimate of analysts tracked by Bloomberg.
The data know-how agency’s income is predicted to rise marginally by 1% on a sequential foundation to Rs 13,460 crore, in keeping with the estimate. The underside line is estimated at Rs 1,084 crore, which might mark a ten% sequential enhance.
The corporate is scheduled to declare the quarterly outcomes on Thursday.
Tech Mahindra This autumn Preview (Consolidated, QoQ)
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Income seen 1% increased at Rs 13,460 crore versus 13,286 crore.
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EBIT seen 3% increased at Rs 1,394 crore versus Rs 1,357 crore.
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Margin at 10.3% versus 10.2%.
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Revenue seen 10% increased at 1,084 crore versus Rs 983 crore.
Brokerage Views
Nuvama expects a 0.7% sequential decline in fixed foreign money phrases and 1.5% decline in greenback phrases with good thing about reversal of furloughs and Comviva seasonality might be offset by headwinds in hi-tech and few low-margin deal closures.
“Margins shall stay flat QoQ, regardless of wage hike. We will be careful for the administration feedback on the FY27 income and margin steering, and their progress on it,” it famous.
A income progress of 6.5% YoY, pushed by the BFSI, healthcare and know-how, media and leisure is predicted. The EBIT margin is predicted to increase 570 foundation factors YoY, pushed by lowered subcontractor price and improved operational effectivity beneath Venture Fortius, partially offset by wage hike, in keeping with Deven Choksey.
Citi Analysis expects income progress of 0.2% sequentially in fixed foreign money phrases with a 30-basis-point cross foreign money affect. “Margins seemingly to enhance QoQ regardless of some wage hike affect as administration continues to deal with price optimisation. Anticipate deal TCV to be within the vary of $600-800 million,” it mentioned.
Kotak Institutional Equities forecasts income decline as a consequence of weak hi-tech vertical and seasonal weak point within the BPO enterprise. “These headwinds will greater than offset the tailwind from Comviva seasonality. We anticipate a 30 bps enhance in EBIT margin ensuing from advantages of mission Fortius. This can offset headwinds from wage revisions. Rupee depreciation will assist,” it mentioned.
Forecast for internet new deal wins is $750 million, an enchancment sequentially and materials enhance YoY. New offers are anticipated to be gained at the next margin. Whereas a stable FY26 on profitability is predicted, income progress is to be weaker as a consequence of rationalisation of low-margin companies, in keeping with the brokerage.
Key Issues To Watch
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Impression of tariffs, weak demand situation.
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Margin enchancment.
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Deal pipeline.
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Commentary on mission ramp-down and cancellations.
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