Coforge Limited Earnings Summary — Q4 FY2026
Coforge Reports Strong Q4 Performance with 145% Sequential Profit Growth Amid Cigniti Amalgamation
Quarterly Business Intelligence
AI Quarterly Scorecard™
Computed deterministically from the last 10 reported quarters.
Quarterly Business Momentum
- Revenue has increased for 10 consecutive quarters.
- Revenue of ₹5,528 Cr is 49.2% higher year-on-year.
- Revenue has compounded at 47.1% annualised over the last 10 quarters.
- Revenue is at its highest level in 10 quarters.
- Net profit of ₹519 Cr is 63.4% above the same quarter last year.
- Profit growth is outpacing revenue growth, pointing to positive operating leverage.
- Net profit has compounded at 45.3% annualised across the period.
- Operating margin stands at 19.1% in Q1 FY2027.
- Operating margin expanded by 356 bps year-on-year.
- Over the last two years operating margin has expanded by 603 bps.
- PBT margin is 12.7%.
- Expense growth of 42.9% remained below revenue growth of 49.2%.
- Operating profit of ₹1,058 Cr is 83.4% higher year-on-year.
- Operating leverage continues to improve.
- 6 of the last 6 measured quarters delivered year-on-year revenue growth.
- Overall quarterly business momentum scores 80/100 (Strong) on the latest 10 quarters.
- Business momentum remains positive heading into the next quarter.
Quarterly Financials
Last 10 Reported Quarters • All figures in ₹ Crore • Margins in %
| Metric | Trend | Latest Q1 FY2027 | Q4 FY2026 | Q3 FY2026 | Q2 FY2026 | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 | Q4 FY2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | Improving | 5,528 | 4,451 | 4,232 | 3,986 | 3,704 | 3,422 | 3,258 | 3,026 | 2,357 | 2,318 |
| Expenses | Improving | 4,470 | 3,574 | 3,508 | 3,253 | 3,127 | 2,895 | 2,823 | 2,603 | 2,048 | 1,929 |
| Operating Profit | Strong Uptrend | 1,058 | 877 | 723 | 733 | 577 | 527 | 435 | 423 | 309 | 390 |
| Operating Margin | Stable | 19.1% | 19.7% | 17.1% | 18.4% | 15.6% | 15.4% | 13.3% | 14.0% | 13.1% | 16.8% |
| Other Income | Volatile | -28 | -31 | -127 | 39 | 64 | 33 | 57 | 42 | 6 | 14 |
| Interest | Accelerating | 87 | 40 | 42 | 41 | 46 | 40 | 32 | 30 | 32 | 37 |
| Depreciation | Strong Uptrend | 241 | 180 | 171 | 172 | 159 | 125 | 117 | 114 | 72 | 79 |
| Profit Before Tax | Strong Uptrend | 702 | 625 | 384 | 558 | 436 | 395 | 343 | 320 | 211 | 288 |
| Tax | Volatile | 170 | -41 | 88 | 133 | 79 | 87 | 87 | 86 | 72 | 59 |
| Net Profit | Volatile | 519 | 612 | 250 | 376 | 317 | 261 | 216 | 202 | 133 | 224 |
| Net Margin | Volatile | 9.4% | 13.8% | 5.9% | 9.4% | 8.6% | 7.6% | 6.6% | 6.7% | 5.7% | 9.7% |
Key Takeaways
- Net profit surged to ₹6,123 million, benefiting significantly from a deferred tax credit of ₹1,533 million during the quarter.
- Quarterly revenue grew 30% Year-on-Year to ₹44,504 million, maintaining strong top-line momentum in line with its 5-year CAGR.
- The amalgamation of Cigniti with Coforge has been finalized, with a 1:1 share exchange ratio and a record date of May 16, 2026.
- Profitability significantly improved sequentially, with PBT before exceptional items rising to ₹6,786 million compared to ₹5,318 million in Q3.
- Exceptional items of ₹536 million were recognized in Q4, adding to a total of ₹2,260 million for the full fiscal year.
- The Board deferred the interim dividend proposal to the next meeting due to the ongoing Cigniti share issuance process.
Management Guidance
Management remains focused on the 'Next 12 Months' executable order book to drive visibility and aims to integrate Cigniti to scale digital transformation capabilities, particularly in Cloud and AI.
Sentiment Shift
Improving
A massive recovery in net profit margins and strong revenue growth, alongside the completion of the Cigniti merger, signals a period of aggressive scaling.
Outlook
Optimistic, supported by a healthy executable order book and high institutional confidence, though debt levels from acquisitions remain a secondary monitorable metric.
From the Annual Report (Key Quotes)
“Cigniti stands amalgamated with Coforge and the equity shareholders of Cigniti are entitled to receive equity shares of Coforge in the share exchange ratio (1:1).”
“The Statutory Auditors have issued Audit Reports with an unmodified opinion on the Financial Results of the Company.”
“The dividend proposal has been deferred by the Board to the next meeting in view of the record date fixed for Cigniti shareholders.”
Official Quarterly Documents
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This summary is AI-generated from Coforge Limited's latest quarterly filing and earnings call. For informational purposes only — not investment advice.