Mphasis Q2FY27: direct revenue up 11.3% YoY in constant currency, TCV wins at USD 466 Mn
Q2FY27 direct revenue USD 486 Mn, up 11.3% YoY in constant currency; operating margin 14.8% versus 15.3% a year earlier.
By ScoutQuest · · 1 min read
- Direct Revenue
- USD 486 Mn, up 11.3% YoY in constant currency
- Operating Margin
- 14.8% versus 15.3% a year earlier
- FY27 Guidance
- low double-digit revenue growth, 14.75%-15.75% margins and 80% net income to operating cash flow conversion
- Period
- Q2FY27
- Positioning
- Mphasis presents itself as an AI-led enterprise transformation partner built on the Mphasis Tria decision loop, selling outcome accountability rather than capacity across BFS, insurance, TMT and APPS/BPO in the Americas, EMEA and ROW.
📈 For Q2FY27 Mphasis reports direct revenue of USD 486 Mn, up 11.3% year on year and 3.5% quarter on quarter in constant currency, with TCV wins of USD 466 Mn, of which 66% is AI-led, and a pipeline it calls record (up 23% YoY, 71% AI-led).
📈 Margin and cash moved the other way: operating margin slipped to 14.8% in Q2FY27 from 15.3% a year earlier, DSO rose to 113 days from 89 (+22 days YoY, 105 days normalised), and reported cash generation was USD 40 Mn against USD 54 Mn, or USD 34 Mn normalised after USD 39.5 Mn of remittances initiated on 30 September and received in October.
📈 Segment and vertical mix, in constant currency: APPS revenue USD 368 Mn (+14.4% YoY), BPO USD 79 Mn (+18.7%), ITO USD 39 Mn (-21.3%); BFS USD 259 Mn (+15.0% YoY), Insurance USD 71 Mn (+14.7%), TMT USD 94 Mn (+14.5%) and Logistics & Transportation USD 18 Mn (-27.8%).
🎯 Management states FY27 guidance of low double-digit revenue growth despite the uncertain macro environment, stable margins in a 14.75%-15.75% target band, and a target of 80% conversion of net income to operating cash flow normalised in FY28; it says H1 set a good foundation and expects H2 to continue the momentum.
Also from Mphasis
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Board approves audited Q2 and H1 results; names officials for materiality of disclosures
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Board approves audited Q2 and H1 results; auditor's opinion unmodified
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More numbers
- Direct revenue, Q2FY27 (USD Mn)486 (USD Mn)
- Direct revenue growth YoY, constant currency, Q2FY2711.3%
- Operating margin, Q2FY2714.8%
- Operating margin, Q2FY2615.3%
- TCV wins, Q2FY27$466Mn
- AI-led share of pipeline71%
- DSO, Q2FY27113
- EPS, Q2FY2729.4 (INR)
- TTM TCV$1.8Bn
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