TECHMNSE24 April 2025

Tech Mahindra Limited has informed the Exchange about Investor Presentation

Tech Mahindra Limited

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Tech Mahindra Limited

Sharda Centre, Off Karve Road, Pune - 411004, Maharashtra, India

Tel. +91 20 6601 8100

techmahindra.com connect@techmahindra.com

CIN L64200MH1986PLCO41370

24th April, 2025

To, BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001 Scrip Code : 532755

National Stock Exchange of India Limited Exchange Plaza, 5th floor, Plot No. - C/1, G Block, Bandra-Kurla Complex, Bandra (East), Mumbai - 400 051 NSE Symbol : TECHM

Subject: Investor Presentation under Regulations 30 and 46 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”) Intimation of Quarterly Earnings Meeting vide letter dated 11th April, 2025

Ref:

Dear Sir/Madam,

In furtherance to the Quarterly Earnings Presentation submitted as part of the detailed outcome of the Board Meeting intimated by the Company on 24th April 2025 (and enclosed herewith), please find enclosed the Investor Presentation on Update on Strategic Roadmap being made at the quarterly earnings meeting scheduled today, 24 April 2025 at 6:30 p.m. (IST).

This Intimation is also available on the website of the Company at https://www.techmahindra.com/investors/

the weblink:

Kindly take the above on record.

Thanking you,

For Tech Mahindra Limited

Ruchie Khanna Company Secretary

Encl.: as above

Safe Harbor

Certain statements in this presentation may contain ‘forward-looking statements’

identified by the use of

forward-looking words or phrases and statements relating to our future performance and prospects for growth in

FY2026 and beyond, our ability to achieve our financial, strategic and business goals; and our planned investments.

Our actual actions or results may differ from those expected or anticipated in the forward-looking statements due to

both known and unknown risks and uncertainties; downturns in global and regional economic conditions impacting one

or more of the markets in which we and our customers operate; other economic and public health conditions or

regulatory changes in the markets in which we and our customers, suppliers and partners operate; our ability to attract

and retain talented and diverse employees; fluctuations in our business due to seasonality; the concentration of our

customers, potentially increasing the negative impact to our business of difficulties experienced by any of our customers

or changes in their purchasing or selling patterns; our ability to realize the benefits of cost-savings and efficiency and/or

revenue efficiency enhancing initiatives including initiatives to integrate portfolio companies and the impact of litigation

or arbitration decisions or settlement actions.

1 1

Agenda

AI Delivered Right

Vision FY27 An Update

Delivering Profitable Growth

The Path Ahead

Q&A

2 2

Metrics Beyond Earnings

162 Fortune Global 500

45 Must Have Accts Added

NPS Top Quartile in the Sector

ESAT Highest in Three Years

>50% Faster Expense Settlement

~90% Top 2 Analyst Quadrants

Always Listening, Always Improving

3 3

Winners Across Industries are Embracing a New Mindset

Strengthened by…

Banking Financial Services and Insurance

Application Development Maintenance & Support

Communications

Manufacturing

P e o p l e

Healthcare & Life Sciences

Energy & Utilities

I n d u s t r i e s

Retail, Consumer Goods & Travel, Logistics

Technology Media & Entertainment

Consulting & Next Gen Services

Digital Enterprise Applications

Experience Design Services

Engineering Services

Cloud & Infrastructure Services

Business Process Services

Professional Services

Public Sector

Network Services

C a p a b

i l i t i e s

State of AI Today AI must transition from vision and experimentation to practical and safe value delivery

6 6

AI Adoption

74%of Companies Struggle to

Achieve and Scale Value

7 7

AI Delivered Right

8 8

AI Delivered Right – Foundational Pillars

Our

Commitment

Productivity Delivered

Transformation Delivered

Innovation Delivered

Assurance Delivered

What We do?

• Build and deliver Agentic AI systems that bring value to clients

•

Industry-specific AI solutions

• AI-powered customer

• Responsible approach to AI

experience

through VerifAI

• Custom AI/ML model dev

• Advanced customer

• Building reasoning models

• MLOps implementation

analytics

• Data modernization

• Cybersecurity AI to

autonomously detect and mitigate threats

AI First

Organization

More than

Central AI team working

30+ AI powered

Collaborating with CIO teams

12k certified

with service lines to drive

solution accelerators

in AI across

adoption of AI internally &

for customer

hyper scalers

with customers

deployments

for infusing AI into TechM

internal processes within

Finance, HR & Marketing

Ecosystem of

partnerships

Recognitions

Leadership rating by HFS, ISG, IDC, Everest and many others

Amongst best companies to work for in ‘Data Science’ category

57% coverage across Turbocharge customers

Strategic AI Partner

Setting the stage for Agentic AI

AI Delivered Right

Vision FY27 An Update

3-Year Roadmap

Q4 FY24 Q4 FY24

FY25 FY25

FY26 FY26

FY27 FY27

The Beginning The Beginning

Turnaround Phase Turnaround Phase

Stabilization Phase Stabilization Phase

Reaping Returns Reaping Returns

Structure and Structure and strategy definition strategy definition

Ground the new org Ground the new org

Investment in accounts, Investment in accounts, key markets, service lines key markets, service lines

Front-end integration of Front-end integration of portfolio companies portfolio companies

Turbocharge program for Turbocharge program for key account growth key account growth

Project Fortius for cost Project Fortius for cost

Continue above normal Continue above normal investments investments

Improved long term Improved long term structural mix structural mix

Full integration of Full integration of portfolio companies portfolio companies

Continuous improvement Continuous improvement in pyramid in pyramid

Project Fortius – further Project Fortius – further progress on cost savings progress on cost savings

Accelerate Revenue Growth Margin Expansion

The TechM Flywheel

Balanced industry mix High growth services focus Focus on prioritized market Turbocharge program Large deal focus

Vision FY27

Topline growth > Peer avg Industry standard margins High predictability

M&M synergy

Talent management

Culture building Branding & marketing ESG leadership

Productivity gains

Synergy with portfolio cos

Operational parameters High margin services focus Delivery excellence

The TechM Flywheel

Balanced industry mix

High growth services focus Focus on prioritized market Turbocharge program Large deal focus

Vision FY27

Topline growth > Peer avg Industry standard margins High predictability

M&M synergy

Talent management

Culture building Branding & marketing ESG leadership

Productivity gains

Synergy with portfolio cos

Operational parameters High margin services focus Delivery excellence

Balanced Industry Mix

BFSI

Telecom

Manufacturing

• Partner of the year awarded by Temenos

• Serve 9 of top 10 telcos across prioritized

• 50%+ penetration in top 30 companies

• Secured 15+ New logos (3 in the Fortune 500)

• 10+ large deals; healthy pipeline

• Significant step-up analyst engagement (50+ briefings)

markets

across prioritized markets

• Enhanced Telecom solution portfolio

• Smart Factory service launched

to deepen ‘Monetize’ offerings

with 30+ active threads

• AI first transformation wins

in Europe and US

• Manufacturing Xperience Centre set up in Chennai; 40+ clients hosted in 3 months

• Domain Consultants up 40% with focus in

Payments, Wealth and Core Banking

• 500+ Telco Enterprise Architects; specialized

• Domain Consultants up 30%

into AI led transformation themes

with focus on Auto and Industrial

…HLS, TME, RTL and more

Focus on Prioritized Markets

Ecosystem

Verticalization

Sales Investment

Leadership

Advisory and PE

• 100+ relationships

• 15+ roundtables

• 10+ deal wins

Marketing

• 50+ team across

vertical, field, and analyst relations

Alliances

• 45+ specialist

alliance managers

• US – Sharpened vertical focus

• 75%+ sales HC focused

• Deeper bench built

beyond Telecom & Hi-Tech into BFSI, MFG, HLS, RTL & more

on priority markets

• Specialist Sales HC -

2x in NGS, Engineering, & DEA

• Europe verticalized with

dedicated focus on Telco, BFSI, MFG, HLS & more

• APJ & MEA structured by

verticals

Turbocharge and Large Deal Focus

Turbocharge

Large deal program

Account Team

Dedicated client partner, delivery partner,

named market makers, named marketing anchor

Relationships mapped and governed across 3 layers of

client partner, business unit head, & CEO/COO

Client relations

Enhancing depth

Structured program to drive greater SL penetration,

60 plus workshops done

Sales skills and leadership enhancement

4 cohorts at INSEAD and ISB completed

$20M+ accounts delivered 2.3% growth YoY (470 bps change)

Impact

Dedicated Team 60+ people with high pedigree including Deal Directors,

Enterprise Architects, Deal Originators and Transition Experts

Proactive Propositions Transformation, managed services and vendor consolidation

Industrialized Win Themes Pitch books and deal archetypes by vertical & market themes

Impact Deal wins grew 42.5% YoY: broad based and across

prioritized markets

18 18

…GCC, MHA, and more

Autonomous Operations

Cementing KPN’s Position as an Innovation Leader

19 19

The TechM Flywheel

Balanced industry mix High growth services focus Focus on prioritized market Turbocharge program Large deal focus

Vision FY27

Topline growth > Peer avg Industry standard margins High predictability

M&M synergy

Talent management

Culture building Branding & marketing ESG leadership

Productivity gains

Synergy with portfolio cos Operational parameters High margin services focus Delivery excellence

M&M Synergy

Transformational Work into Group

Leveraging Scale of Group

Co-creation

CXO Digital Cockpit 4k+ KPIs, Data -> Insight -> Action

Leveraging M&M group leadership and network

Mahindra Finance Transforming consumer and agent experience

Partnering with some of the group’s supplier landscape through technology

Rollout Industry 4.0 solutions across 13 sites

Maximizing scale and synergy in the technology landscape

Car Configurator in AR for Mahindra Auto

Parthers in the Mahindra AI division

Commercialization of co-developed solutions

Culture Building

Simplify

Clarify

Innovate

Perform

Streamlining processes to foster easier collaboration

Building and communicating a strong sense of purpose

Enabling internal and customer focused innovation

Driving performance orientation & delivering excellence

22 22

Marketing & Branding

Brand

Demand

Expand

Grand

• Global Chess

• WEF, Davos

League

• Formula E

• WSJ Big Thinkers

• Renewed

MarTech Stack

• MWC, NRF,

Hannover Messe

• ABM for

•

Integrated Marketing Campaigns

Turbocharge Accounts

• Advisor led deals

• Private equity

relations

23 23

ESG Leadership

Parameters

Targets

Terra Carta Seal First Indian company to be awarded the Sustainable Markets Initiative’s Terra Carta Seal

Dow Jones Sustainability Index (DJSI) 2024 Top Indian company in Software & Services on DJSI World Index 2024 and ranked 2nd globally with a score

Climate Resilience

Net Zero by 2035 (SBTi approved)

of 88 (100th percentile)

Renewable Energy

90% by FY30

Zero Waste to Landfill certification

All owned locations by FY26

Afforestation

150,000 trees by FY26

Water withdrawal intensity

Reduction by 20% by FY26

Supply Chain assessment

Audit top 200 suppliers

Diversity

37% women associates

Human Rights assessments

All owned locations by FY26

CDP 2024 Included in “A” list for the both the Climate Change and Water security disclosures 2024

S&P Global- Sustainability Yearbook 2025 Only Indian company included in the Top 5% in the IT Services sector and a member of S&P Global Yearbook 2025

Science-Based Targets Initiative (SBTi) Net zero GHG emissions across the value chain by FY2035 has been approved by the Science-Based

Targets Initiative (SBTi)

24 24

The TechM Flywheel

Balanced industry mix High growth services focus Focus on prioritized market Turbocharge program Large deal focus

Vision FY27

Topline growth > Peer avg Industry standard margins High predictability

M&M synergy

Talent management

Culture building Branding & marketing ESG leadership

Productivity gains

Synergy with portfolio cos

Operational parameters High margin services focus Delivery excellence

Project Fortius Actions for Sustainable Margin Improvement

Sustaining Momentum

Expanding Horizon – FY26 Unlock

• FPP optimization via Automation,

• Portfolio integration

Productivity Improvements

• Delivery Led Growth

•

Improve average price realization

• Optimizing pyramid and span of control

• T&M billed utilization

Process and System integration led margin improvements

• Optimize ARC

Entry Level Training Program, N-1 rotation and span optimization

• Billable Utilization

Reducing non-billable efforts to boost productivity

26 26

Transforming Tech Mahindra into a Learning Organization

High-Impact Learning Interventions in FY’25

VELOCITY

ELITE

Capability

enhancement

Gold-standard Key

Roles Academies

program for Global

for PMs, PGMs,

Sales Team

Large-Deal Teams

30%+

15%+

Certification

Reskilling

on future skills

AI-Based, Skill

Management

Platform

Focus Areas for FY’26

New-Age

Competency

Framework

Career-

Super-agile

Personalized

Create

architecture-led

learning journey

demand

fulfilment

coaching for high

‘Grassroot

performers

Innovation Mindset’

N=1, Sales

enablement

Rapid strides in High-Margin and High-Growth Service Lines

Digital Enterprise Apps

Engineering Services

Next Gen Services

Cloud

• 11 Awards in last 2 years, incl Best GSSP Partner of the year

• Partner of the Year awards for

•

ISG - Leader in Digital Engineering and eMobility Services & Solutions

Oracle and Salesforce

• QKS Group - Leaders in IoT

•

Industry Solutions and Platforms (15+)

• 5 New Solutions launched, 4 Solutions certified by SAP

Managed Services

• Navistar and Bombardier

Supplier Excellence Awards

•

Industry leading solutions in emerging technology areas launched

• 20+ leadership position in

Analyst reports including HFS report on Generative AI provider for 2025

•

Industry 4.0 Next-Gen Services Leader

• Multi agent system to enable expedited data engg and transformation

• AI-driven Security operation center for top-tier customers

• Entered Gartner MQ for Public Cloud services as ‘Challenger’

• Data-Driven Cloud Innovator

of the Year 2024

• AWS APJI Telco Partner

of the Year 2024

• Among Top 9 Global Vendors in Gartner’s market guide for Multi Cloud Mgmt. Services

• GTM assets to promote

Mainframe Modernization

Margin Accretive to Company Average

28 28

Delivery Excellence

Talent Planning and Acquisition

Skill Development

Large Deal Review

Solution Development

Quality Process & Systems

• AI based platform

for fulfilment

• Dedicated team for transformational deal fulfillment

• Hyper personalization of training for client readiness

• Dedicated solution

• Organization

designers, architects, deal directors

wide KM platform in place

• Proactive account level governance & reporting

•

Increase in training infrastructure investment

• Dedicated CLM team

and process for large deals

• Estimation templates baselined and established

• Comprehensive delivery health dashboard

Metric – NPS, CSAT scores, and Customer Escalations

TechM was selected as the single ITO and BPO partner after a rigorous procurement activity. TechM has delivered on reducing Brighter Super’s cost base by 50%, building our member journeys and bringing stability, predictability, and resilience to Brighter Super’s operations. I have been particularly impressed with their capability in delivery and their agility - they are able to listen to our needs and respond.

Kate Farrar, CEO, Brighter Super

Delivering Profitable Growth

31 31

Financial Trends

Deal Wins (USD Mn)

Revenue y-o-y (in CC)

745

798

Actuals

Stated Goal

500

534

603

0.3%

Peer Average

FY24

FY25

FY26

FY27

Q4 FY24

Q1 FY25

Q2 FY25

Q3 FY25

Q4 FY25

-4.7%

Earnings Before Interest & Taxes (EBIT %)

Return of Capital Employed (ROCE)

10.5%

10.2%

9.6%

22.60%

19.40%

20.20%

8.5%

7.4%

17.60%

14.60%

Q4 FY24

Q1 FY25

Q2 FY25

Q3 FY25

Q4 FY25

Q4 FY24

Q1 FY25

Q2 FY25

Q3 FY25

Q4 FY25

FY25 Metrics

Strategic Actions Metric

2025

Change

Growth

▪ Growth in account > $20M ▪ Contribution from NA, Europe, prioritized pockets in APJ ▪ Net new deals ($Bn) ▪

Industry mix (Enterprise)

Margin Excellence

▪ Entry level workforce as a % of total ▪ C&B as a % of Revenue ▪ % of Revenue from Key service lines

2.3% 81.3% $2.7 66.9%

27.8% 66.9% 30.6%

Organization & Talent

▪ % of employees upskilled/ futuristic technologies ▪ Gender diversity ▪ % of Turbocharge clients infused with GenAI/AI offerings

65.0% 34.4% 57%

+470 bps +2 bps +42.5% +1.6%

+200 bps -200 bps +1.0%

+900 bps +130 bps

EBIT Expansion Roadmap

15%

Portfolio Mix

Wage hikes

Investments

9.7%

Cost Saving

Pricing & DLG Utilization Subcons Offshoring Cost optimization N-1 rotation

One time

6.1%

(Reported)

FY 24

FY 25

FY 26

FY 27

Robust Free Cashflows

Days Sales Outstanding (DSO)

FY25 Free Cash Flow

Dividend as a percentage of FCF

85%

70%

122% Free Cash Flow (FCF) generated

as a percentage of Profit After Tax

FY22

FY23

FY24

FY25

FY24

FY25

Endeavor to distribute at least 85% of FCF generated over 5 years to shareholders in form of dividends or buyback

Portfolio Integration

Front Office

Middle Office

Back Office

100%

90%

60%

• Sales Integration

• Capabilities

• Systems - ERP

• Go-to-Market Alignment

• Scalable Service Delivery

• Support Functions Consolidation

Critical component of large transformation deal won

$50 Mn + deals won off back of capability integration

Above Normal Investments Driving Long-term, Profitable Growth

Service Line Capabilities

Ecosystem

Productivity

• Engineering Services

• Hyperscalers

• Digital Enterprise Apps

• Niche domain specific

• Next Gen (Cloud, D&A, AI)

•

Industry analysts

• Consulting Capabilities

•

Internal platforms

• People supply chain

Talent Management

Sales and Key Verticals

Key Account Focus

• Fresher hiring

• Learning and development

• Telecom

• BFSI

• Manufacturing

• HLS

• Dedicated delivery & client partners

•

Innovation through co-creation

Key Takeaways

Confident of making transformation progress, even amidst macroeconomic challenges

Margin growth has been sustained, driven by strong operational execution from Project Fortius – even amid flattish overall growth

Deal win rates have significantly improved over the last four quarters

Consulting and Gen AI are the significant areas of investment for TechM

Consistent policy of returning cash to shareholders

38 38

39 39

But Most Importantly…

40 40

+ > +

Earnings Presentation Q4 FY’25

March 2025

+ + +

+ > +

+ + +

Q4 FY25 Snapshot

$ 1,549 Mn Revenue

8.7% PAT Margin

$ 150 Mn Free Cash flow

10.5% EBIT Margin

$ 798 Mn Net New Deal Wins

+ + +

+ > +

Q4 FY25 Snapshot All trends are YoY, except where specified

FINANCIAL

OPERATIONAL

SEGMENT

GEOGRAPHY

IT 1.1%

BPS -5.5%

Revenue 0.0%

(up 0.3% cc)

EBIT % 10.5% (up 310 bps)

PAT % 8.7% (up 350 bps)

Headcount 148,731 ( up 3,276)

IT LTM attrition 11.8% (up 180 bps)

Utilisation (incl. trainees) 86.3% (down 20 bps)

Active Customers 1,162 (down by 10)

Americas -4.7%

Europe 5.1%

ROW 4.8%

+ + +

+ > +

* IT – BPS revenue split re-instated post realignment of portfolio companies from IT to BPS

CC refers to Constant Currency

+ > +

Q4 FY25 Snapshot All trends are QoQ, except where specified

FINANCIAL

OPERATIONAL

SEGMENT

GEOGRAPHY

Revenue -1.2%

(-1.5% cc)

EBIT % 10.5% (up 40 bps)

PAT % 8.7% (up 130 bps)

Headcount 148,731 (down 1,757)

IT LTM attrition 11.8% (up 60 bps)

Utilisation (incl. trainees) 86.3% (up 70 bps)

Active Customers 1,162 (down by 13)

IT -0.3%

BPS -5.8%

Americas -5.9%

Europe 6.3%

ROW 1.3%

+ + +

+ > +

CC refers to Constant Currency

+ > +

FY25 Snapshot

$ 6,264 Mn Revenue

8.0% PAT Margin

$ 613 Mn Free Cash flow

9.7% EBIT Margin

$ 2.7 Bn Net New Deal Wins

+ + +

+ > +

FY25 Snapshot All trends are YoY

FINANCIAL

OPERATIONAL

SEGMENT

GEOGRAPHY

IT -0.3%

BPS 0.2%

Revenue -0.2%

(up 0.3% cc)

EBIT % 9.7% (up 360 bps)

PAT % 8.0% (up 350 bps)

Headcount 148,731 (up 3,276)

IT LTM attrition 11.8% (up 180 bps)

Utilisation (incl. trainees) 86.1% (down 30 bps)

Active Customers 1,162 (down by 10)

Americas -2.4%

Europe 0.1%

ROW 4.1%

+ + +

+ > +

CC refers to Constant Currency * IT – BPS revenue split re-instated post realignment of portfolio companies from IT to BPS

Vertical Performance Q4 FY25

VERTICALS

Communications Manufacturing

Banking, Financial Services & Insurance

Technology, Media & Entertainment

Retail, Transport & Logistics

Healthcare & Lifesciences

Others

% SHARE

33.2%

17.0%

16.7%

13.2%

8.1%

7.3%

4.5%

% YoY

%QoQ

-2.2%

1.0%

-5.5%

-0.2%

6.0%

2.4%

-4.1%

-8.2%

10.3%

2.3%

12.3%

-0.4%

-5.6%

-5.2%

Vertical Performance FY25

VERTICALS

Communications Manufacturing

Banking, Financial Services & Insurance

Technology, Media & Entertainment

Retail, Transport & Logistics

Healthcare & Lifesciences

Others

% SHARE

33.1%

17.3%

16.1%

13.9%

% YoY

-5.0%

-1.6%

4.3%

-0.4%

7.9%

4.4%

7.5%

4.3%

3.7%

16.0%

Management Commentary

This year, we laid a strong foundation for our transformation journey. Through strategic investments in our people, leadership, and capabilities, we have positioned ourselves to accelerate our strategic roadmap. Our deal wins at $2.7 billion, reflect a 42% year-on-year increase and are a clear validation of the depth of our client partnerships.

+ + +

+ > +

Mohit Joshi CEO, Tech Mahindra

Deal-Win Performance Total TCV Q4 FY25: $ 798 Mn

Signed a lab asset takeover deal with a

Secured a milestone deal in the Compute

Selected by a global leader in enterprise

Tier-1 Telco in US. Deal positions us as one of the largest one stop device test and

Infrastructure space with a leading US-

apps to provide managed TechOps services

based aerospace company, that involves

for the end customers of its flagship

certification lab for the US market, with

managing compute instances using

enterprise platform, covering the entire

ability to support global smartphone

advanced technologies like Containers-as-

OEMs, IOT module makers and chipset

manufacturers focused on launching 5G /

a-Service (CaaS) and Platform-as-a- Service (PaaS).

lifecycle of their Private Cloud Infrastructure—including Build, Migrate,

Operate, and Decommission.

next-gen wireless enabled devices.

Selected by a leading Americas based

Telco to enhance customer experience ,

reduce churn and improve efficiencies across its wireless and wireline service offerings.

Selected by a US based healthcare

technology provider, providing public health

solutions to the Medicaid population for a

CMS Interoperability mandate. TechM will be

the reseller, implementation and support

partner of the SaaS interoperability solution,

helping the client onboard their customers seamlessly.

Selected by a leading retailer in the US to

serve as a strategic extension of its

technology team. TechM to establish a

Global Engineering Center for Data and

Insights, that will act as a hub to

implement advanced analytics and AI

driven programs for the client.

+ + +

Strategic Highlights: AI

Solution Launches and Updates

Strategic Collaboration Tech Mahindra and NVIDIA Collaborate to Advance Drug Safety with Agentic AI-Powered Pharmacovigilance Solution

Drive Enterprise AI Innovation Tech Mahindra Integrates IndusQ LLM with Qualcomm AI Hub to Drive Enterprise AI Innovation

Tech Mahindra Bridges India's Language Gap with AI - An Intel Testimonial

NVIDIA & Tech Mahindra: Pioneering the Future of Generative AI & Sovereign LLMs

5+ Recognitions from the Industry, Media, and Analysts

Tech Mahindra won the 15th Edition of Aegis Graham Bell Award in the Innovation in GenAI category

World’s Top Media Powerhouse AIM has featured “Project Indus” in its March 2025 edition of AIM Print

Generative AI Use Case Validation And Evaluation: Methodologies And Key Considerations Featuring Research From Forrester

Launching Soon Unveiling the new AI narrative to bring out TechM’s capability and competency in AI and to deliver it right for customer, client, partners and more

Our GenAI expertise reflects in our client engagements

188+ Qualified AI & IA opportunities

35% Gen AI opportunities

51,000+ Talent enabled on AI/Gen AI

Partnering with Hyperscalers and OEMs

• Snapdragon X launch: Project Indus and AI tutor with Manav demonstrated on Qualcomm PC • TechM to Transform Autonomous Network Operations with New Large Telco Model based on NVIDIA AI

Enterprise and AWS Cloud Infrastructure

• TechM and AWS Collaborate to Transform Telecom Networks with Generative AI • TechM Announces Integration with ServiceNow to Deliver GenAI-Powered Enterprise Service Management

24000+ GitHub Copilot Trained

Solutions

• TechM Announces AI Center of Excellence, Powered by NVIDIA AI Enterprise and Omniverse Platforms

Strategic Highlights: Brand Awareness & Perception

The 2025 World Economic Forum is historic in Tech Mahindra's story as we unveil our very own pavilion for the first time.

Launch of

Opening of Americas Headquarters in Plano, Texas

Inauguration of new APJ corporate office in Sydney

Inauguration of BPS’s newest office in Mumbai

Inauguration of Manufacturing Xperience Center in Chennai

Other Highlights NEW LAUNCHES, PARTNERSHIPS & COLLABORATIONS

Tech Mahindra announced the launch of

Tech Mahindra inaugurated an advanced

Tech Mahindra built a pharmacovigilance

its ‘TechM Consulting’ service line. The

Manufacturing Xperience Centre at its

(PV) autonomous solution with NVIDIA AI

service offering aspires to be a trusted

advisor and results enabler for its clients

campus in Chennai, helping customers quickly prototype and scale AI-driven

software and powered by TechM's TENO framework to advance drug safety

based on its ability to support their

innovations to address industry challenges

management by leveraging agentic AI and

evolution and transformation.

such as high operational costs, process

automation to enhance the accuracy,

inefficiencies and supply chain disruptions.

speed, and efficiency of PV processes.

Tech Mahindra expanded its long-term

Tech Mahindra announced a strategic AI-

Tech Mahindra announced its membership

strategic partnership with Google Cloud to

led collaboration with Qualcomm

boost the adoption of AI and to lead digital

transformation globally, combining TechM’s

deep domain expertise with Google Cloud’s

AI capabilities, AI development platform,

and agentic AI technology.

Technologies, Inc. through the successful integration of its proprietary AI model, IndusQ LLM, into Qualcomm® AI Hub, a

dedicated platform for on-device AI model deployment, placing TechM as the only GSI to achieve this integration.

in the AI-RAN Alliance - a global initiative

committed to fostering the development and deployment of AI-driven solutions

within Radio Access Networks (RAN),

enabling TechM to help its customers, enterprises, and partners navigate the

evolving telecom landscape.

+ + +

Other Highlights NEW LAUNCHES, PARTNERSHIPS & COLLABORATIONS

Rakuten Symphony signed MoUs with Tech

Tech Mahindra secured the first-ever

Tech Mahindra, Optus, Microsoft and

Mahindra, Cisco Systems and Airspan

licensing agreement for Cricket Wireless, an

Databricks partnered to implement a

Networks, enabling Airspan and TechM to

resell Rakuten Symphony Open RAN

AT&T owned leading prepaid wireless provider, Point of Sale (POS) system,

unified data platform (UDP), driving Optus’ accelerated data, applications, and

software licences to telecos & enterprises

“Aktivate”, enabling TechM to integrate it into

system migration to the cloud enabling it

globally. TechM will also serve as preferred

its comprehensive suite of solutions for

to accelerate the implementation of next-

systems integrator for Rakuten Symphony.

wireless service providers globally.

gen technologies that leverage Gen AI/ML.

Tech Mahindra announced a global strategic

partnership with BEET, the AI-enabled

global industrial IoT platform specialising in

intelligent manufacturing enabling TechM to

become a Master Certified Systems Integrator for the BEET Platform while positioning BEET as a Key Component of TechM’s Smart Factory Services.

Tech Mahindra signed a MOU with The Open

University (OU), the UK’s largest university to

drive innovation, skills development, and

entrepreneurship. This strategic collaboration aims to bridge the gap between cutting-edge

technology advancements by jointly

advancing research in AI, Extended Reality (XR), Gen AI, and High-Tech solutions.

+ + +

Awards & People Highlights

STRENGTH & ATTRITION

AWARDS

Employee strength

148,731

– Received the Guidewire PartnerConnect Cloud Ready - AMER specialisation and

the PartnerConnect BillingCenter, ClaimCenter, and PolicyCenter - APAC specialisations.

–

Achieved formal validation for Net-Zero targets by the Science Based Targets initiative (SBTi), placing TechM amongst elite group of very few Indian companies to secure SBTi validation for its Net-Zero goals.

– Recognised with Gold Award in the organisational category for ‘India’s Most

Sustainable Business of the Year’ at BW Sustainable World Conclave.

– Recognised with Gold Award for the Best Tech Team of the Year (Organisation

using HR Tech) at the BW People Tech Future Awards 2025.

+ + +

+ > +

LTM IT attrition

11.8%

–

Included in ‘A List’ for both CDP Climate Change and CDP Water Stewardship 2024

Listed in the Top 5% for IT Services sector in the S&P Global Sustainability Yearbook 2025.

– Recognised among Top 10 strongest IT Services brands globally and the ‘Top 5

Gainers’ in Brand Strength Index score by Brand Finance, moving up from 73.4 in 2024 to 77.3 in 2025 and brand rating improving from AA to AA+.

Analyst Recognitions

–

Leader in SAP Ecosystem Partners 2025 -SAP S4HANA System Transformation - Large Accounts - (Germany & APAC), Managed Cloud Services for SAP ERP (APAC), SAP Application Managed Services (US, UK and Brazil), RISE with SAP Implementation Partners (Global), SAP SuccessFactors HXM Partner Services (Brazil) and SAP Business AI and Business Technology Platform (BTP) Services (Global) by ISG.

Leader in ServiceNow Ecosystem Partners 2025 - Innovation on ServiceNow (US, Europe, and AP&J), ServiceNow Managed Services (US and Europe), ServiceNow C&I (US), Managed Application Services - Large Enterprises (US and Germany), AI-powered Multicloud Implementation Services - Large Enterprises (US) and Implementation Services for Marketing and Commerce with AI Enablement – US by ISG.

Leader in Industry 4.0 Services PEAK Matrix® Assessment 2025 by Everest Group.

Leader in Microsoft AI and Cloud Ecosystem 2025 Data Fabric on Azure – Global by ISG.

Tech Mahindra’s Healthcare and Life Sciences (HLS) vertical recognised as a Horizon 3 Market Leader in the HFS Research Horizons Healthcare Payer Service Providers 2024 report and as a Star Performer in Everest Group’s ‘Healthcare Provider Digital Services PEAK Matrix® Assessment 2024’ report.

Leader in Mainframes - Services and Solutions 2025- Application Modernization Services- US Public Sector by ISG.

Leader in Digital Engineering Services 2025 - Design & Development (Products, Services and Experiences) (US and Europe), Integrated Customer / User Engagement (US and Europe) and Intelligent Operations (US and Europe), by ISG.

Leader in Supply Chain Transformation Services for Retail and CPG PEAK Matrix® Assessment 2025 by Everest Group.

Leader in CPG Digital Services 2024 RadarView by Avasant.

Leader in Agribusiness and Chemicals Services & Solutions 2025-Digital IT/OT , Supply Chain & Logistics and Sustainability & Innovation – Chemicals (US) by ISG.

Financial Snapshot Q4 FY25

REVENUE ($ Mn)

GROSS PROFIT ($ Mn)

EBIT ($ Mn)

1,548

1,567

1,549

418

452

159

163

114

PAT ($ Mn)

136

116

Q4'24

Q3'25

Q4'25

Q4'24

Q3'25

Q4'25

Q4'24

Q3'25

Q4'25

Q4'24

Q3'25

Q4'25

DILUTED EPS (Rs)

FCF ($ Mn)

CASH & EQUIVALENTS ($ Mn)

13.2

11.1

7.5

199

150

129

949

799

896

14.6%

ROCE %

22.6%

20.2%

Q4'24

Q3'25

Q4'25

Q4'24

Q3'25

Q4'25

Q4'24

Q3'25

Q4'25

Q4'24

Q3'25

Q4'25

Operational Snapshot Q4 FY25

HEADCOUNT

UTILISATION (including trainees)

IT ATTRITION (LTM)

HEADCOUNT MIX (Onsite)

145,455

151,358

148,731

86.4%

85.6%

86.3%

10.0%

11.2%

11.8%

25.2%

22.7%

22.1%

Q4'24

Q3'25

Q4'25

Q4'24

Q3'25

Q4'25

Q4'24

Q3'25

Q4'25

Q4'24

Q3'25

Q4'25

ACTIVE CLIENTS

TOP 10 CLIENTS

50 Mn+ CLIENTS

DSO

1,172

1,176

1,162

25.9%

24.2%

24.5%

Q4'24

Q3'25

Q4'25

Q4'24

Q3'25

Q4'25

Q4'24

Q3'25

Q4'25

Q4'24

Q3'25

Q4'25

Financial Snapshot FY25

REVENUE ($ Mn)

6,277

6,264

GROSS PROFIT ($ Mn)

EBIT ($ Mn)

PAT ($ Mn)

1,555

1,761

607

502

380

284

FY24

FY25

FY24

FY25

FY24

FY25

FY24

FY25

DILUTED EPS (Rs)

FCF ($ Mn)

47.9

676

613

26.6

CASH & EQUIVALENTS ($ Mn)

949

896

ROCE %

21.3%

12.5%

FY24

FY25

FY24

FY25

FY24

FY25

FY24

FY25

Operational Snapshot FY25

HEADCOUNT

145,455

148,731

UTILISATION (including trainees)

86.4%

86.1%

IT ATTRITION (LTM)

HEADCOUNT MIX (Onsite)

10.0%

11.8%

26.2%

23.3%

FY24

FY25

FY24

FY25

FY24

FY25

FY24

FY25

ACTIVE CLIENTS

TOP 10 CLIENTS

50 Mn+ CLIENTS

DSO

1,172

1,162

26.6%

24.5%

FY24

FY25

FY24

FY25

FY24

FY25

FY24

FY25

Other Financial Highlights

CASH CONVERSION

TREASURY

OTHERS

Q4’25 Free cash flow $150 M

FY25 Free cash flow $613 M

Final Dividend @ Rs. 30 per share

Dividend for the year @ Rs. 45 per share

DSO 88 days

Hedge book $ 2.0 Bn

Q4’25 Tax rate 22.0%

FY25 Tax rate 24.8%

Q4’25 USD/INR average exchange rate 86.53

+ + +

+ > +

Financial Summary Q4 FY25

in $ Mn

Revenue

EBIT

EBIT %

Other Income

+ > +

Miscellaneous + Interest Income

Exchange Gain / (Loss)

Profit Before Tax

Provision for tax

Profit After Tax

PAT %

EPS (Basic) in Rs

EPS (Diluted) in Rs

Q4FY25

QoQ

YoY

-1.2%

2.8%

0.0%

43.6%

940.8%

-55.5%

11.4%

47.6%

17.3%

70.8%

1,549

163

10.5%

(4)

170

136

8.7%

13.17

13.15

Financial Summary FY25

in $ Mn

Revenue

EBIT

EBIT %

Other Income

+ > +

Miscellaneous + Interest Income

Exchange Gain / (Loss)

Profit Before Tax

Provision for tax

Profit After Tax

PAT %

EPS (Basic) in Rs

EPS (Diluted) in Rs

FY25

YoY

-0.2%

60.0%

-8.2%

71.8%

76.7%

6,264

607

9.7%

101

130

(28)

668

166

502

8.0%

48.00

47.91

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