Tech Mahindra , a leading Indian automaker, is gearing up to expand its electric vehicle (EV) presence both domestically and internationally. The company has unveiled ambitious plans to export EVs to the United Kingdom, leveraging the recently finalized India-UK free trade agreement.

Export Plans and EV Sales Target

Anish Shah, Group CEO of Tech Mahindra, announced the company's intention to tap into the UK market for EV exports. This strategic move aligns with Tech Mahindra's broader goal of increasing its EV sales. Shah stated that the company aims for electric vehicles to constitute 30% of its overall sales by 2030, highlighting Tech Mahindra's commitment to the growing EV sector.

Design Center in the UK

Tech Mahindra's expansion plans are bolstered by its existing presence in the UK. The company operates the Mahindra Advanced Design Europe facility in Banbury, Oxfordshire. This center serves as a crucial design hub for Tech Mahindra's electric products, potentially playing a significant role in tailoring vehicles for the UK market.

Welcoming Competition

Despite the potential entry of global EV players like Tesla and Vinfast into the Indian market, Shah expressed optimism. He drew parallels to Tech Mahindra's past experiences of successful competition with established automakers such as Ford, Hyundai, and Kia. This confidence suggests Tech Mahindra's readiness to maintain its market position in a more competitive landscape.

Growing Market Share

Tech Mahindra has demonstrated strong performance in the SUV market. The company's market share in this segment has seen substantial growth, increasing from 11.00% to 27.00% over time. Notably, Tech Mahindra achieved a significant 5.70 percentage point growth in market share during the most recent quarter, indicating strong consumer demand for its products.

India as a Global Manufacturing Hub

The company sees great potential in India's role as a global automobile manufacturing hub. In line with this vision, Tech Mahindra plans to expand its product range across both domestic and international markets, potentially positioning itself as a key player in the global automotive industry.

Addressing Supply Chain Challenges

Shah acknowledged the ongoing challenges in the EV sector, particularly the shortage of rare earth magnets. He mentioned that Tech Mahindra is actively working on alternatives to address this supply chain issue, which is crucial for sustaining the growth of their EV production.

As Tech Mahindra sets its sights on international markets and ambitious EV targets, the company appears poised for significant expansion in the evolving automotive landscape. The success of these initiatives could have far-reaching implications for both Tech Mahindra and India's position in the global EV market.

Tech Mahindra , a leading provider of digital transformation, consulting, and business re-engineering services and solutions, has reported its financial results for the first quarter of fiscal year 2026, showcasing resilience in a challenging macroeconomic environment.

Key Financial Highlights

• Revenue stood at $1,564.00 million, reflecting a 0.40% year-on-year growth and a 1.00% decline on a constant currency basis.
• EBIT margin improved to 11.10%, up from 10.50% in the previous quarter, marking the seventh consecutive quarter of margin expansion.
• Profit after tax (PAT) increased by 30.00% to $133.00 million, with PAT margin expanding by 200 basis points to 8.50%.
• Total Contract Value (TCV) for the quarter was $809.00 million, representing a 44.00% year-on-year increase on an LTM basis.
• Free cash flow was $86.00 million, impacted by seasonal factors and timing-related collection delays.

Vertical Performance

Geographical Performance

Client Metrics and Deal Wins

• Added 2 clients in the $50.00 million bucket.
• Onboarded 15 new must-have accounts.

Strategic Focus and Future Outlook

Tech Mahindra continues to make progress toward its stated FY27 margin targets and expects FY26 performance to be better than FY25. The company is focusing on:

1. Deepening relationships with top accounts, which are showing faster than company average growth.
2. Adding new must-have accounts to drive future growth.
3. Winning profitable large deals to boost revenue momentum.

Despite the challenging environment, Tech Mahindra's focus on margin improvement, strategic client acquisitions, and innovative solutions positions it well for future growth in the dynamic IT services landscape.