Mphasis Ltd
NSE:MPHASIS
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Mphasis Ltd
In the bustling world of IT services, Mphasis Ltd. has carved a niche for itself as an agile and forward-thinking challenger. Originating from India, the company deftly bridges the gap between legacy infrastructure and transformative digital strategies, serving a plethora of industries such as banking, financial services, and insurance (BFSI), which form the crux of its revenue streams. Mphasis thrives by delivering comprehensive solutions including application development, infrastructure technology, and business process outsourcing. What sets it apart is its ability to tailor these services to fit the evolving demands of cloud and cognitive technologies, thus ensuring that clients experience seamless integration of traditional setups with modern innovations.
Underlying Mphasis's operations is a robust business model centered around client-centricity and sharp domain expertise, allowing it to craft specific solutions that cater to each client’s unique challenges. By consistently embedding itself into its clients’ strategic outlook, Mphasis not only fosters long-term partnerships but also ensures continuous revenue through its outcome-based service contracts. Its investment in next-generation platforms like X2C2 - Anything to Cloud, Powered by Cognitive, supports organizations in their digital transformation journeys, thereby amplifying its growth prospects amidst the digital surge. This commitment to blending technological prowess with business needs is key to Mphasis’s success, drawing a reliable stream of revenue from diverse yet deeply integrated service lines.
In the bustling world of IT services, Mphasis Ltd. has carved a niche for itself as an agile and forward-thinking challenger. Originating from India, the company deftly bridges the gap between legacy infrastructure and transformative digital strategies, serving a plethora of industries such as banking, financial services, and insurance (BFSI), which form the crux of its revenue streams. Mphasis thrives by delivering comprehensive solutions including application development, infrastructure technology, and business process outsourcing. What sets it apart is its ability to tailor these services to fit the evolving demands of cloud and cognitive technologies, thus ensuring that clients experience seamless integration of traditional setups with modern innovations.
Underlying Mphasis's operations is a robust business model centered around client-centricity and sharp domain expertise, allowing it to craft specific solutions that cater to each client’s unique challenges. By consistently embedding itself into its clients’ strategic outlook, Mphasis not only fosters long-term partnerships but also ensures continuous revenue through its outcome-based service contracts. Its investment in next-generation platforms like X2C2 - Anything to Cloud, Powered by Cognitive, supports organizations in their digital transformation journeys, thereby amplifying its growth prospects amidst the digital surge. This commitment to blending technological prowess with business needs is key to Mphasis’s success, drawing a reliable stream of revenue from diverse yet deeply integrated service lines.
Revenue Growth: Q3 FY26 revenue was $451 million, up 1.5% sequentially and 7.4% year-over-year in constant currency, driven by strong execution and large deal ramp-ups.
AI-Led Pipeline: The deal pipeline hit record levels, up 66% year-over-year, with 69% of the pipeline now AI-led, reflecting strong demand for the NeoIP platform.
Large Deal Wins: Net new TCV wins reached $428 million in the quarter, including 4 large deals (2 over $50 million); LTM TCV doubled to $2.1 billion.
Margin Discipline: EBIT margin was stable at 15.2%, and management reaffirmed its target band of 14.75% to 15.75%.
BFSI and Insurance Momentum: BFSI vertical contributed 66% of revenue and showed strong growth: Direct BFS grew 2.5% sequentially and 18% YoY; Insurance grew 8.1% sequentially and 36.6% YoY.
Broader Growth Outlook: Management expects Q4 to be the strongest sequential growth quarter of the year, with continued broad-based growth across geographies and verticals.
Deal Conversion & Guidance: The company expects to outpace industry growth (>2x), driven by strong TCV to revenue conversion and continued ramp-up of large deals.
