Mastek Limited reported a 15% year-on-year increase in consolidated net profit to ₹105.9 crore for the quarter ended June 30, 2026. Revenue from operations rose 7.7% to ₹985.3 crore, compared to ₹914.7 crore in the corresponding period of the previous year. The growth was driven by strong momentum in AI, with 40+ new deals secured during the quarter, and robust performance in the UK and Europe operations.

On a sequential basis, revenue grew 5% to ₹985.3 crore from ₹938.0 crore in the prior quarter, while net profit declined marginally by 0.3% to ₹105.9 crore. The company's 12-month order backlog stood at ₹2,935.2 crore, reflecting a 25% growth in rupee terms year-on-year. Total income for the quarter was ₹997.3 crore, up from ₹925.3 crore in Q1FY26.

Consolidated Financial Performance

The Board of Directors approved the unaudited consolidated financial results for the quarter ended June 30, 2026. The following table summarises the key financial metrics:

Operational Highlights

Operating EBITDA margin for the quarter stood at 15.4%, a sequential decline of 71 basis points from 16.1% in the prior quarter, attributed largely to delayed collection in the Middle East. The company's net cash and investment position improved by approximately ₹200 crore over the last two quarters to reach ₹945.4 crore as of June 30, 2026.

Geographically, the UK and Europe business delivered a 6.5% sequential revenue growth in rupee terms, backed by momentum in financial services and the public sector. North America business also reported a strong quarter with 6.2% sequential revenue growth. However, the Middle East business faced impact due to geopolitical uncertainties.

Strategic Wins and Outlook

Mastek secured several strategic engagements during the quarter, including a $25 million AI-led Salesforce deal in North America and a digital transformation project for one of England’s largest councils. The company was recognized as a Challenger in Avasant Higher Education Digital Services 2026 RadarView and featured in the Gartner Market Guide for Oracle Cloud Infrastructure Professional and Managed Services.

HDFC Mutual Fund has increased its shareholding in Mastek Ltd to 5.06% following the acquisition of 86,746 equity shares. The transaction, executed through the open market on July 15, 2026, raises the fund's total stake to 15,68,910 equity shares. This move triggers a disclosure requirement under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Prior to this acquisition, the fund held 14,82,164 shares, representing 4.78% of the company's paid-up equity share capital. The additional purchase of 86,746 shares, accounting for 0.28% of the capital, pushed the total holding past the 5% threshold. The disclosure was submitted to the stock exchanges on July 20, 2026.

The acquisition was carried out by HDFC Asset Management Company Limited, acting as the investment manager for HDFC Mutual Fund. Specifically, the shares were acquired by the HDFC Small Cap Fund. The acquirer clarified that it does not belong to the promoter or promoter group of the target company.

Shareholding Details

The following table outlines the changes in shareholding following the transaction:

The paid-up equity share capital of Mastek Ltd is reported as Rs. 15,50,03,910, comprising 3,10,00,782 equity shares of Rs. 5 each. The total diluted share capital remains unchanged as no convertible securities were involved in this transaction. The company's paid-up share capital was recorded as 3,10,02,407 equity shares as of July 20, 2026.