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Tech Mahindra

Mahindra group IT services company with a large telecoms practice

Overview

Tech Mahindra, part of India’s Mahindra group, reported revenue of US$6,385 million for the fiscal year ended 31 March 2026. That was 1.9% more than the year before in reported terms and 0.6% more in constant currency[21]. Profitability improved more clearly than revenue: EBIT rose 31.4% to US$797 million and the EBIT margin widened by 290 basis points to 12.6%[21]. New deals signed during the year had a total contract value of US$3,794 million, up 41.6%[21]. Headcount at year end was 147,623, down 1,108 from a year earlier[21]. Tech Mahindra’s services include telecom network and IT services, application and infrastructure services, engineering and business process services.

Tech Mahindra strengths and limitations

Strengths

  • Long specialisation in telecom and network software
  • Wide geographic footprint

Limitations

  • Dependence on telecom spending makes revenue cyclical
  • Published revenue figure lacks a stated period

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