Tech Mahindra Share Price- Tech Mahindra company is currently in the first phase of its three-year turnaround plan. The company continues to move towards its ambitious FY27 targets. Company CEO Mohit Joshi said this after the company’s results. In April last year, CEO Mohit Joshi had unveiled a three-year turnaround plan to revive Tech Mahindra’s slow growth trajectory. It was named ‘Vision 2027’. The ambitious roadmap aims to expand the company’s EBIT margin to 15 percent. Aim to achieve topline growth surpassing the peer average among the top six IT companies by FY27. This transformation strategy has been built on three important bases i.e. revenue growth, margin improvement and organizational change.
Joshi said that as part of this plan, Tech Mahindra has shifted to a global service line model. Due to which it has increased its focus on key areas like big deals with important customers, portfolio rebalancing across industries and other countries, enhancing customer relationships.
The growth of customer portfolio was more than the overall growth of the company.
“Our focus on our largest customers and must-have accounts is paying off. Despite challenges with some large telecom customers, the growth of our largest customer portfolio is outpacing the company’s overall growth. This is what Joshi said.
He also highlighted the company’s success in adding more than two dozen customers. Each of these customers contributed more than $1 million to the company’s revenue. This is a testament to Tech Mahindra’s focus on important must-have accounts. Joshi noted a steady increase in the pace of large deals. He said that the value of deals has continuously increased from $300 million to $745 million in recent quarters.
Management expects further increase in growth
Additionally, the management believes that focus on BFSI, engineering, data & AI and digital enterprise is expected to further drive growth.
Tech Mahindra’s revenue has seen continuous growth in the last three quarters. Along with this, the margin has also increased continuously. Noting the early results of its three-year roadmap, Joshi reiterated Tech Mahindra’s commitment to achieving its FY27 targets through sustained progress without any interruption.
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