Preview: Analysts expect India's Tech Mahindra to outpace top peers

Tech Mahindra

22/04/2026 06:02

** Shares of Tech Mahindra TEML.NS fall 3.5% ahead of Q4 results

** Move mirrors broader selloff in the IT index which is down 3.6% after HCLTech drags the index down after dissapointing Q4 results and forecast

** Analysts on average expect TEML to post about a ~27% rise in consol net profit and a 10.3% jump in revenue for Q4 y/y- data compiled by LSEG

** TEML is likely to report -0.1% q/q revenue decline, due to weakness in the hi-tech, retail and logistics verticals while the quarter will also drag by the unit Comviva's seasonality - Elara Capital

** DAM Capital expects revenues to be flattish led by slight impact from middle east as growth from BFSI and telecom will be offset by impact from retail and logistics

** Ambit says FY26 EBIT margin path could be on track with exit at ~14%, with reiteration of 15% EBIT margin by FY27 but FY26 growth could be near flat

** Forty-one analysts have a "buy" rating on avg; median PT is 1,675 rupees - data compiled by LSEG

** YTD, TEML down 10.5% vs IT index's ~20% decline

(Reporting by Urvi Dugar in Bengaluru)

((UrviManoj.Dugar@thomsonreuters.com;))