Highlights

• Coforge reported 29.2% YoY USD revenue growth for FY26, reflecting steady demand trends.
• EBIT margins expanded by 370 basis points YoY, reaching 14.4% for FY26.
• PAT rose 82% YoY in USD terms, supported by operational efficiencies and deal wins.

Shares of Coforge Limited (NSE:COFORGE) rose sharply in early trade on May 6, 2026, gaining 7.17% to ₹1,252.40. The stock opened at ₹1,261.20 and touched an intraday high of ₹1,295.80, compared to the previous close of ₹1,168.80. Trading volumes reflected heightened investor activity following the earnings announcement.

Source: TradingView

FY26 Financial Performance Overview

For the full fiscal year ended March 31, 2026, Coforge reported revenue of INR 164,207 million ($1,870 million), marking a 35.9% year-on-year increase in INR terms and 29.2% in USD terms.

EBITDA stood at INR 30,464 million ($347 million), rising 76.9% YoY in INR terms, with margins expanding by 431 basis points. EBIT increased to INR 23,645 million ($269.6 million), up 82.7% YoY, with margins improving to 14.4%.

Profit after tax reached INR 15,557 million ($177.4 million), reflecting a 91.6% increase in INR terms and 82.1% in USD terms.

Q4 FY26: Sequential and Annual Growth Trends

In the March quarter, revenue came in at INR 4,450.4 crore ($489.1 million), rising 30% YoY in INR terms and 5.2% sequentially.

EBITDA for the quarter was INR 9,168 million ($100.8 million), with margins at 20.6%, up 232 basis points quarter-on-quarter. EBIT stood at INR 7,368 million ($81 million), with margins improving to 16.6%.

Quarterly PAT was INR 6,123 million ($67.3 million), increasing 144.8% sequentially in INR terms.

Order Book and Operational Metrics

Order intake for Q4 FY26 was reported at $648 million, including five large deals. The executable order book for the next twelve months stands at $1.75 billion, reflecting a 16.4% YoY increase.

Headcount reached 35,777 employees, with a net addition of 436 during the quarter. The last twelve-month attrition rate stood at 10.8%.

Management Commentary

“FY26 marked another year of exceptional performance for Coforge. We delivered strong YoY growth at 29.2% and expanded EBIT margins materially by 370 bps to 14.4%. With an order executable of $1.75Bn, we enter FY27 with strong momentum and confidence.

We expect to deliver robust revenue growth in FY27 and plan to deliver an EBITDA of more than 20.5% on a consolidated basis in FY27.” Sudhir Singh, Chief Executive Officer and Executive Director, Coforge Ltd.

AI-Led Efficiency and Partnerships

The company highlighted AI-led efficiencies as a contributor to margin expansion. It also achieved AWS Premier Tier Services Partner status and received recognition in multiple industry assessments and awards during the year.

Key Risks

• High dependence on large deal wins may impact revenue visibility if deal flow slows.
• Currency fluctuations can affect USD-reported financial performance and margins.
• Attrition levels, though moderate, could influence delivery and cost structures.
• Competitive IT services landscape may pressure pricing and contract renewals.

Summary

Coforge (NSE:COFORGE) reported FY26 revenue growth of 29.2% in USD terms, alongside notable margin expansion and an 82% increase in profit. Q4 performance showed sequential improvement in profitability.

The company’s order book and deal intake indicate continued business activity. Stock price reacted positively to the results, reflecting investor response to earnings and operational metrics.

FAQs

Q: What drove Coforge’s revenue growth in FY26?
A: Revenue growth was supported by deal wins, order book expansion, and continued demand across key service segments globally.

Q: How did margins improve during FY26?
A: Margins expanded due to operational efficiencies, including AI-led initiatives and improved cost management across delivery functions.

Q: What is Coforge’s order book outlook?
A: The executable order book stands at $1.75 billion, indicating visibility for revenue over the next twelve months.