Earning Snapshot: Tech Mahindra, L&T Technology Services, and Angel One
- Share.Market
- 4 min read
- Published at : 17 Jul 2025 11:38 AM
- Modified at : 17 Jul 2025 11:38 AM
TECHMRevenue from Operations: ₹13,351 Crore 🔼 2.7% YoY
Net Income ₹₹1,130 Crore 🔼 30.2% YoY
Tech Mahindra Ltd. demonstrated steady operational performance in Q1 FY26 with disciplined execution. EBIT margins expanded to 11.1%, marking the seventh consecutive quarter of margin improvement, while maintaining a healthy ROCE of 23.8%.
Free cash flow generation remained robust at $86 million with strong cash conversion metrics.
The standout performance came from deal wins totaling $809 million, representing 44% growth on a trailing twelve-month basis.
The company secured significant AI-focused contracts, including multi-service deals with UK telcos for AI operations monitoring and strategic partnerships with pharmaceutical companies for scaling AI use cases.
Tech Mahindra’s AI strategy is gaining traction with 200+ enterprise-grade AI agents deployed at scale and 77,000+ employees trained in AI technologies.
The company filed patents for VerifAI, ensuring data validation in AI pipelines, and formed strategic alliances with KOGO AI and Mimik to strengthen its agentic AI capabilities.
Geographically, Europe showed strong momentum with 11.7% year-over-year growth, while client concentration improved with 26 clients contributing over $50 million annually, indicating deeper engagement with larger accounts.
LTTSRevenue from Operations ₹2,866 Crore 🔼 16.4% YoY.
Net Profit ₹315.7 Crore 🔼 0.7% YoY
L&T Technology Services Ltd. delivered strong operational momentum in Q1 FY26, maintaining healthy margins with EBIT at 13.3% and securing over $200 million in large deals for the third consecutive quarter.
The company’s AI-focused strategy is yielding results, with 206 patents filed in the AI domain and the launch of PLxAI, a proprietary framework accelerating product development lifecycles.
Revenue growth was driven by robust performance in North America (16.1% growth) and the Sustainability segment achieving double-digit growth while crossing the $100 million milestone.
However, net profit growth remained modest due to strategic investments in AI capabilities and the opening of a new design center in Plano, Texas.
The company’s multi-segment diversification proved resilient, with all three segments now generating $400+ million annualized revenues.
ANGELONEGross Revenues: ₹1,143 Crore 🔻 -19%YoY
Net Profit ₹114.5 Crore 🔻 60.9% YoY
Angel One Ltd. demonstrated resilient business fundamentals in Q1 FY26 despite reported profit challenges, with normalized PAT surging 26% QoQ to ₹1,922 million.
The company’s diversified revenue streams showed stability, with F&O brokerage contributing 45% and interest income 31% of the total gross income of ₹11.4 billion.
The standout performance came from aggressive platform expansion, with Assets Under Custody growing 16.9% QoQ to ₹1.4 trillion, serving 9.1 million clients.
Client funding book expanded 4.3% QoQ to ₹42 billion, while wealth management AUM surged 33.6% QoQ, indicating successful cross-selling initiatives.
Angel One’s fintech transformation is gaining momentum with credit disbursals skyrocketing 123.6% QoQ to ₹2.3 billion through AI/ML-driven scorecards.
The company maintains market leadership with 16.3% demat market share and 21.7% share in incremental demat accounts.
However, reported PAT declined 34.4% QoQ due to one-off IPL sponsorship expenses and investments in new business verticals. The normalized EBDAT margin of 34.3% reflects the underlying operational strength, positioning Angel One well for sustained growth in the evolving fintech landscape.
Note: The stock prices mentioned are as of 11:25 AM
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