Coforge Q4 Net Profit Surges 145% to ₹615 Crore, Order Intake Hits $648 Million

Key facts

• Net profit rose 145% QoQ to ₹615 crore in Q4 FY26.
• Revenue grew 30% YoY in rupee terms, 28.7% in constant currency.
• Order intake of $648 million in Q4, with five large deals signed.
• Executable order book for next 12 months stands at $1.75 billion, up 16.4% YoY.
• EBITDA margin expanded to 19.6% from 17.1% in the previous quarter.
• Headcount reached 35,777, with net addition of 436 employees.
• Annual PAT for FY26 rose 91.6% to ₹1,555.7 crore.
• CEO Sudhir Singh targets EBITDA margin above 20.5% in FY27.

A Record Quarter for Coforge

Coforge, the Greater Noida-based IT services company, posted a consolidated net profit of ₹615 crore for the fourth quarter of fiscal 2025-26, a 145% quarter-on-quarter surge from ₹250 crore in the previous quarter. The results, announced on Tuesday, May 5, 2026, surpassed street estimates, driven by strong revenue growth and operational efficiencies. Revenue from operations rose 5% sequentially to ₹4,450 crore, compared with ₹4,232 crore in the December quarter. On a year-on-year basis, revenue increased 30% in rupee terms, 28.7% in constant currency, and 21.2% in US dollar terms. Sequentially, constant currency revenue grew 2.0% and USD revenue 1.7%.

Operational Metrics and Margin Expansion

EBITDA for the March quarter stood at ₹876 crore, a 21% sequential increase from ₹724 crore in the prior quarter. The EBITDA margin expanded to 19.6%, up from 17.1% in the December quarter, reflecting improved cost management and higher utilisation. EBIT came in at ₹2,364.5 crore for the full fiscal year, up 82.7% in rupee terms, with margin expansion of 370 basis points year-over-year to 14.4%. The company attributed the margin gains to AI-driven efficiencies and a favourable revenue mix.

Order Book and Deal Wins

an order intake of $648 million in Q4 FY26, including five large deals signed during the quarter. The executable order book for the next twelve months reached $1.75 billion, reflecting a 16.4% year-on-year increase. This robust pipeline underpins the company's growth outlook for the coming year. The company's headcount rose to 35,777, with a net addition of 436 employees sequentially. The last twelve months' attrition rate stood at 10.8%, indicating stable workforce retention.

Full-Year Performance and CEO Commentary

For the full fiscal year 2025-26, revenue of ₹16,420.7 crore, up 35.9% in rupee terms and 29.2% in USD terms. EBITDA for the year rose 76.9% in rupee terms to ₹3,046.4 crore, with margin expanding by 431 basis points year-over-year. Profit after tax for the fiscal year stood at ₹1,555.7 crore, increasing 91.6% in rupee terms. Commenting on the results, CEO and Executive Director Sudhir Singh said, “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%. 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.”

Vertical Strength and Market Context

The company's performance was bolstered by strong demand in key verticals such as healthcare and hi-tech, which posted significant year-on-year gains. The travel vertical, a focus area for Coforge, also contributed to the revenue growth, though specific figures were not disclosed. Analysts have responded positively, with several raising estimates following the Q4 results. However, some bears see downside risks, citing potential headwinds from global macroeconomic uncertainty and currency fluctuations. The stock surged over 10% on the day of the earnings announcement, reflecting investor optimism.

Outlook for FY27

Coforge's management has guided for robust revenue growth in FY27, with a target EBITDA margin of over 20.5% on a consolidated basis. The company's strong order book and deal pipeline provide visibility into near-term performance. The company's recent acquisition of Cigniti Technologies, through a share swap deal, is expected to further strengthen its capabilities in digital engineering and AI. The deal, declared alongside the Q4 results, positions Coforge for continued expansion in the competitive IT services landscape.

The bottom line

• Coforge's Q4 net profit more than doubled to ₹615 crore, beating expectations.
• Revenue grew 30% YoY in rupee terms, with strong performance across verticals.
• Order intake of $648 million and a $1.75 billion executable order book signal sustained demand.
• EBITDA margin improved to 19.6%, with management targeting above 20.5% in FY27.
• CEO Sudhir Singh highlighted AI efficiencies as a key driver of margin expansion.
• The Cigniti acquisition through a share swap deal adds to growth prospects.