Mastek Ltd.revenue crosses ₹1,000 Cr, EBITDA margin 14.4%, backlog dips

Mastek's Q2 FY27 call, held on 26 October 2026, reported revenue of $107.3 million, up 2.4% in constant currency, and ₹1,018.7 crore, crossing ₹1,000 crore for the first time, up 8.3% on the year.

EBITDA margin was 14.4%, down 100 basis points on the quarter as wage increments and ESOPs cost 190 basis points and a mix shift in the UK toward security-cleared work cost about 200, partly offset by AI-led efficiencies. Profit after tax was ₹105.7 crore, and cash and investments net of debt rose to ₹582.7 crore with receivable days at 74. The 12-month backlog fell 7.7% on the quarter to $286.2 million because a $25 million US federal deal was delayed until after the midterm elections and a UK contract is being consumed more slowly, while North America backlog was up 47.9% on the year.

AI deals were 53 orders, about 45% of the order book. Management expects FY27 to beat FY26, a North America turnaround from H2, and margin recovery of at least 160 basis points over the medium term, and will disclose AI and Data revenue from next quarter.