• Operating EBITDA at Rs 137.3 crore, up 10.8% Y-o-Y
• PAT at Rs 92.1 crore, up 28.7% Y-o-Y
• 12 months order backlog grew by 8.3% Y-o-Y in rupee terms

Mumbai, India 18th July 2025: Mastek, a trusted AI-first, digital engineering and cloud transformation partner, announced today its financial results for the First Quarter of FY26 ended on 30th June 2025.

Commenting on the Q1FY26 results, Umang Nahata, Chief Executive Officer, Mastek, said:“We are pleased to report another steady quarter, with revenue growth of 12.5% Y-o-Y in rupee terms. Growth was led by strong performance in the UK and Europe, driven by momentum in healthcare and secured government services. The US business witnessed headwinds in some accounts, however pipeline and order backlog remain strong.

Operating EBITDA margin stood at 15.0%, declined marginally by 31 bps due to ongoing investments in talent and capabilities. On a Y-o-Y basis, Operating EBITDA grew by 10.8%.PAT grew to Rs 92.1 crore, up 13.5% Q-o-Q and 28.7% Y-o-Y.

Our 12-month order backlog grew 8.3% Y-o-Y in rupee terms, supported by strong demand across Digital Engineering and Data, Automation & AI. Oracle-led engagements in healthcare and commercial sectors continuing to scale.

Our AI proposition is building tremendous traction with customers with over 10 deals finalised this quarter across generative and agentic AI solutions delivering significant productivity gains.We also signed a strategic partnership with Open Ana which significantly elevates our AI capabilities.

While the external environment remains dynamic, our execution focus, combined with deep client relationships, positions us well to deliver sustainable and profitable growth in the coming quarters.”

Operating Highlights:

• New accounts added during the quarter: The Company added 12 new clients in Q1FY26.Total active clients during Q1FY26 were 323 as compared to 348 in Q4FY25.
• 12 months Order Backlog:12 months order backlog was Rs 2,347.9 crore ($273.8 mn) as on 30th June, 2025 as compared to Rs 2,168.8 crore ($260.1 mn) in Q1FY25, reflecting growth of 8.3% in rupee terms on Y-o-Y basis and Rs 2,290.9 crore ($264.5 mn) in Q4FY25, reflecting growth of 2.5% in rupee terms on Q-o-Q basis.
• Employees: As on 30th June, 2025, the company had a total of 4,824 employees, of which 3,262 employees were based offshore in India while the rest were at various onsite locations. Employee count at the end of 31st March, 2025 was 5,058. Last twelve months attrition at 19.5% in Q1FY26 in comparison with 19.3% in Q4FY25.
• Cash Balance:The total cash, cash equivalents and fair value of Mutual Funds stood at Rs 549.0 crore as on 30th June, 2025 as compared to Rs 622.2 crore as on 31st March, 2025.

Key wins for the Quarter:

• Mastek secured a one-year extension to manage and enhance a national biometrics platform for UK-based central government agency, ensuring continuity of high-security services while introducing new capabilities through Agile development, DevSecOps, and managed services.
• Mastek secured a strategic engagement from a UK-based central banking institution to modernize data and analytics for supporting monetary policy. The solution delivers a scalable platform that addresses infrastructure gaps and enhances automation, replicability, lineage, and visualization.
• Mastek secured a strategic contract from a US-based premier academic institution to migrate a legacy student tracking system to Agentforce- Salesforce platform. The solution delivers scalable performance, ensures regulatory compliance, and enhances responsiveness across academic workflows.
• Mastek secured a strategic award from a UK-based healthcare Authority to build core CRM Dynamics components within their new Regulatory Platform. This engagement marks the next phase of a growing partnership, evolving from earlier User-Centered Design work.
• Mastek is awarded a strategic initiative by an American Fortune 500 provider of advanced clinical research services for the life sciences industry to implement AI led automation aimed at optimizing clinical operations and compliance.
• Mastek secured a strategic contract from a leading American healthcare provider managing Medicare Advantage, pharmacy, and rehabilitation services, to implement Mastek’s ADOPT.ai solution for Oracle Cloud Applications to modernize their back office and planning functions.
•  Mastek has been chosen as the transformation partner to modernize and unify global HR operations by implementing Oracle HCM Cloud for a leading European manufacturer of windows and exterior doors. Through a consolidated Human Capital Management solution, the program will streamline processes, eliminate redundancies, and enable faster, data-driven workforce decisions.
• Mastek, as a Strategic Technology Partner, secured multiple incremental deals from a leading American Fortune 500 dealer of recreational vehicles to drive enterprise modernization focused on enhancing consumer engagement, loyalty, and business growth.
• Mastek has been selected to implement Oracle EPM Cloud to help transform planning and budgeting processes for a multinational food and beverage company, enabling smarter, faster decision-making across both operations and finance.
• Mastek is modernizing 80+ complex legacy client-server applications for a leading EdTech provider in the UK using Mastek’s AI for Technology – Platforms & Tools for reverse and forward engineering. Early results show 60% effort savings, 98.7% functional parity, and a first go-live in just 5 months, accelerating time-to-market, reducing costs, and advancing the client’s SaaS transformation.

 

Key Achievements & Recognitions:

During the quarter, Mastek and its Subsidiaries received awards and recognitions conferred by reputable organizations. Some of them are:

• Gartner: Mastek has been positioned as an “Emerging Specialist” in Gartner’s Emerging Market Quadrant for GenAI Engineering. The new research provides a visual snapshot of vendors based on comprehensive survey data and proprietary insights, where Mastek is recognized for its “icxPro” platform.
• Everest: Mastek has been recognized as a “Major Contender” in the Everest Group PEAK Matrix® Assessment 2025 for Healthcare Data, Analytics, and AI Services.
• ISG: Mastek has been recognized as a “Major Contender” in the ISG Provider Lens™ 2025 report for Snowflake Ecosystem Partners across Europe and the U.S., in the Consulting & Advisory, Implementation Services, and Managed Services categories.
•  IDC: Mastek has been recognized as a “Major Player” in the IDC MarketScape – Worldwide Industrial IoT Engineering and Managed Services 2025 Vendor Assessment Report. The report highlights Mastek’s end-to-end IIoT services, ranging from consulting, design, engineering, and integration.
•  Avasant: Mastek has been recognized as a “Challenger” in Avasant’s RadarView™ – Higher Education Digital Services 2025 Report. It highlights Mastek’s robust capabilities in implementing Oracle and Salesforce solutions, covering most of the value chain for higher education clients.

 

About Mastek

Mastek (NSE: MASTEK; BSE: 523704) is a global provider of enterprise AI, digital, and cloud services, enabling clients to achieve measurable and sustainable returns on their technology investments. The company has a presence in over 40 countries and a skilled workforce of close to 5,000 employees. Mastek partners with industry leaders such as Oracle, Salesforce, Microsoft, AWS, Snowflake, and Databricks, serving key sectors such as Public Sector, Healthcare, Retail, Manufacturing, Higher Education, and Financial Services. Mastek is committed to driving innovation by developing strong ecosystem of start-ups, academia and IPs. With its core values of trust, value, and velocity, the company empowers 400+ active customers to transform their business in the evolving tech landscape. Mastek has always been a solutions-focused and a relationship-centric company, valuing both employees and clients. With its humane approach, Mastek fosters growth through sustainable goals, high ethical standards, and responsible governance.

For past results & conference call transcripts, please visit our web site at www.mastek.com/investors/. Updated disclosures regarding corporate governance may also be accessed at www.mastek.com/investors/corporate-governance/.

Investor / Analyst contact:

Asha Gupta
Investor Relation Practice, E&Y LLP
[email protected]

Shareholders may also contact Mastek via email at [email protected], which has been specifically created for the redressal of investor grievances. You may also contact the Investor Relations team by email at [email protected]