Mastek Q4 FY26 Results: Consolidated PAT ₹106.15 Crore (+24% YoY), Revenue ₹938 Crore, Final Dividend ₹16/Share Declared — FY26 Annual PAT Crosses ₹400 Crore

Mon Apr 20 2026

Mastek Limited — the Mumbai-based AI-first digital engineering and cloud transformation company — declared its Q4 FY26 results post-market hours on April 17, 2026. Consolidated net profit came in at ₹106.15 crore — up 23.6% year-on-year from ₹81.07 crore in Q4 FY25, though marginally lower by 2% sequentially from ₹108.35 crore in Q3 FY26. Revenue from operations grew 3.6% year-on-year and 3.6% sequentially to ₹938 crore. EBIT margin contracted to 14.1% from 14.8% in Q3, reflecting some margin pressure even as the UK government and enterprise deal pipeline remains healthy.

For the full financial year FY26, Mastek posted PAT of ₹404 crore — crossing ₹400 crore for the first time and up 7.5% from ₹375.83 crore in FY25. The board recommended a final dividend of ₹16 per equity share (320% on face value of ₹5), taking total FY26 dividend to ₹24 per share (₹8 interim + ₹16 final) — matching the prior year’s ₹23 total on improved earnings.

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Table of Contents

Mastek Q4 FY26 Financial Results

Metric	Q3 FY26	Q4 FY25 (Base)	Q4 FY26 (Actual)
Revenue (Consolidated)	₹905.68 Cr	₹905.42 Cr	₹938 Cr (+3.6% YoY, +3.6% QoQ)
EBIT	₹134.13 Cr	₹140 Cr	₹132.28 Cr (14.1% margin)
PAT (Consolidated)	₹108.35 Cr	₹81.07 Cr	₹106.15 Cr (+23.6% YoY, −2% QoQ)
FY26 Full-Year Revenue	—	₹3,557 Cr (FY25)	₹3,698.8 Cr
FY26 Full-Year PAT	—	₹375.83 Cr (FY25)	₹404 Cr (+7.5% YoY)
Final Dividend	—	₹16/share (FY25)	₹16/share final (total ₹24 FY26)
Order Backlog (Q3)	₹2,658.5 Cr ($295.8 Mn)	—	Q4 figure due on earnings call Apr 20

Source: Mastek consolidated audited financial results, BSE/NSE filing April 17, 2026; IANS; BusinessToday; FreePressJournal.

The Margin Story: Pressure but Not Alarm

Mastek’s Q4 FY26 EBIT margin of 14.1% — down from 14.8% in Q3 — reflects the typical pattern for IT services companies in Q4: salary increases, visa and travel costs, and subcontracting expenses tend to be seasonally elevated. Additionally, Mastek’s standalone results showed a much stronger profit print (₹57.2 crore standalone PAT, up 184% YoY on standalone basis) driven by dividend income from subsidiaries and foreign exchange gains — factors that don’t flow through to the consolidated margin picture consistently.

The FY26 full-year PAT of ₹404 crore is the cleaner metric. On a trailing twelve-month basis, Mastek is generating sustainable profits that comfortably support the ₹24 per share dividend. The stock had already rallied 19.91% in the month before results, suggesting the market had partially priced in a solid outcome. The earnings call on April 20 at 10 AM IST will be critical for order backlog update (Q3 was ₹2,658.5 crore), FY27 revenue guidance, and UK public sector pipeline assessment.

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UK Deal Momentum: The Growth Engine

Mastek’s primary growth driver is its UK public sector franchise. In Q4 FY26, the UK Home Office contract for the ATLAS biometrics platform (£85 million framework), the Financial Conduct Authority contract (£15 million, 2 years with extension options), and the HADES biometrics application development contract (£49 million, 5 years) are among the most significant wins. These multi-year government contracts provide revenue visibility and reduce quarterly volatility — a key quality of Mastek’s revenue composition compared to peers more exposed to discretionary enterprise IT spending.

Conclusion

Mastek’s Q4 FY26 results are broadly in line — a 24% YoY PAT improvement, ₹400 crore+ annual PAT milestone, and a ₹16 final dividend signal a business delivering consistent value. The slight sequential margin dip and modest sequential PAT decline are manageable blips in an otherwise solid trajectory. The key watch for FY27 is whether the UK pipeline converts to revenue at an accelerated pace and whether the company can defend its EBIT margin above 14% despite cost inflation. At the current stock price (~₹1,749), Mastek trades at approximately 22x FY26 earnings — reasonable for a focused mid-cap IT company with a strong UK anchor.

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Frequently Asked Questions

1. What was Mastek’s Q4 FY26 consolidated PAT?

Mastek reported consolidated Q4 FY26 PAT of ₹106.15 crore — up 23.6% year-on-year from ₹81.07 crore in Q4 FY25, and down 2% sequentially from ₹108.35 crore in Q3 FY26.

2. What was Mastek’s Q4 FY26 revenue?

Mastek’s consolidated revenue from operations was ₹938 crore in Q4 FY26 — up 3.6% year-on-year from ₹905.42 crore in Q4 FY25 and up 3.6% sequentially from ₹905.68 crore in Q3 FY26.

3. What dividend did Mastek declare for FY26?

Mastek’s board recommended a final dividend of ₹16 per equity share (320% on face value of ₹5) for FY26. Combined with the interim dividend of ₹8 per share declared earlier, the total FY26 dividend is ₹24 per share — up from ₹23 per share total in FY25.

4. What is Mastek’s FY26 full-year PAT?

Mastek’s FY26 consolidated PAT was ₹404 crore — crossing ₹400 crore for the first time and up 7.5% from ₹375.83 crore in FY25. FY26 revenue was ₹3,698.8 crore (consolidated).

5. When is the Mastek Q4 FY26 earnings call?

Mastek’s Q4 FY26 earnings conference call is scheduled for Monday, April 20, 2026, at 10:00 AM IST. CEO Umang Nahata and CFO Deepak Kedia will present results and discuss the business outlook.

6. What is Mastek’s UK business pipeline?

Mastek’s UK government pipeline includes the Home Office ATLAS (biometrics) £85 million framework, HADES £49 million biometrics contract, FCA £15 million digital delivery contract, and various other public sector contracts. The 12-month order backlog as of Q3 FY26 was ₹2,658.5 crore (+24.3% YoY). Q4 FY26 backlog will be disclosed on the April 20 call.

7. When do TCS announce Q4 results 2026?

TCS declared Q4 FY26 results on April 9, 2026.

8. Is Mastek a good investment after Q4 FY26 results?

Mastek’s UK public sector focus, ₹400 crore+ annual PAT, strong dividend track record, and AI-first positioning make it an interesting mid-cap IT play. At ~22x trailing earnings, the valuation is reasonable versus peers. Key risks are UK government spending trends and EBIT margin compression. Consult a SEBI-registered financial advisor before investing.

Disclaimer: Investment in the share market is subject to risk. This article is for informational and educational purposes only and does not constitute investment advice. All financial data is sourced from publicly available NSE/BSE filings and company investor relations pages. Verify all numbers before investing. Consult a SEBI-registered advisor before making investment decisions.