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Zensar Technologies Q2 FY27 results: net profit up 4.4% to ₹190.20 crore, revenue up 11.5%
Zensar Technologies Ltd reported consolidated Q2 FY27 revenue of ₹1,585 crore, up 11.5% from a year earlier, with EBITDA of ₹249.70 crore and a 15.8% margin. Net profit was ₹190.20 crore and basic EPS was ₹8.33. On a standalone basis, revenue was ₹809.7 crore and profit was ₹172.2 crore.
Key points
- Consolidated Q2 FY27 revenue was ₹1,585 crore, up 11.5% year on year and 5.1% sequentially.
- EBITDA was ₹249.70 crore, up 13.5% from Q2 FY26; the margin was 15.8%, compared with 15.5%.
- Net profit was ₹190.20 crore, up 4.4% year on year and 3.5% sequentially; basic EPS was ₹8.33.
- H1 FY27 revenue was ₹3,093.5 crore, up 10.2%, while profit was ₹374.0 crore, up 2.7%.
- Total assets were ₹6,135.3 crore and total equity was ₹4,869.7 crore as of 30 September 2026; borrowings were nil.
How did Zensar Technologies perform in Q2 FY27?
Zensar Technologies reported consolidated revenue of ₹1,585 crore for Q2 FY27, up 11.5% from ₹1,421 crore in Q2 FY26 and 5.1% from ₹1,508 crore in Q1 FY27. EBITDA was ₹249.70 crore, up 13.5% year on year and 13.0% sequentially, while the margin was 15.8%, compared with 15.5% and 14.6%, respectively.
Profit before tax was ₹251.90 crore, compared with ₹240.20 crore a year earlier and ₹246.20 crore in the previous quarter. Net profit was ₹190.20 crore, up 4.4% year on year and 3.5% sequentially, and basic EPS was ₹8.33, compared with ₹8.02 and ₹8.11. On a standalone basis, revenue was ₹809.7 crore and profit was ₹172.2 crore, with revenue up 20.2% and profit before tax of ₹152.8 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 1,585 | 1,508 | 1,421 | +11.5% | +5.1% |
| Other income | 42.30 | 57.30 | 49.10 | −13.8% | −26.2% |
| Total expenses | 1,376 | 1,319 | 1,230 | +11.8% | +4.3% |
| EBITDA | 249.70 | 220.90 | 220 | +13.5% | +13.0% |
| EBITDA margin | 15.8% | 14.6% | 15.5% | +0.3 pp | +1.2 pp |
| Profit before tax | 251.90 | 246.20 | 240.20 | +4.9% | +2.3% |
| Tax | 61.70 | 62.40 | 58 | +6.4% | −1.1% |
| Net profit | 190.20 | 183.80 | 182.20 | +4.4% | +3.5% |
| EPS (₹) | 8.33 | 8.11 | 8.02 | +3.9% | +2.7% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Zensar Technologies' costs and profit?
Total expenses were ₹1,376 crore in Q2 FY27, up 11.8% from ₹1,230 crore in Q2 FY26. Employee cost rose by ₹8.40 crore to ₹933.60 crore, depreciation rose by ₹11.60 crore to ₹36.80 crore, and other expenses rose by ₹118.80 crore to ₹383 crore; finance costs fell by ₹0.40 crore to ₹3.30 crore. There was no exceptional item.
Other income fell by ₹6.80 crore to ₹42.30 crore from ₹49.10 crore, while tax expense rose by ₹3.70 crore to ₹61.70 crore. The filing did not state why the expense lines or other income changed. Profit before tax increased by ₹11.70 crore to ₹251.90 crore, and net profit rose by ₹8 crore to ₹190.20 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 0 | 0 | |
| Employee cost | 933.60 | 925.20 | +8.40 | +0.9% |
| Finance costs | 3.30 | 3.70 | −0.40 | −10.8% |
| Depreciation | 36.80 | 25.20 | +11.60 | +46.0% |
| Other expenses | 383 | 264.20 | +118.80 | +45.0% |
| Total expenses | 1,376 | 1,230 | +145.40 | +11.8% |
| Other income | 42.30 | 49.10 | −6.80 | −13.8% |
| Tax | 61.70 | 58 | +3.70 | +6.4% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, consolidated revenue was ₹3,093.5 crore, up 10.2% from ₹2,806.3 crore in H1 FY26, while total income rose 9.6% to ₹3,193.1 crore. Profit before tax increased 3.6% to ₹498.1 crore, and net profit rose 2.7% to ₹374.0 crore. Basic EPS was ₹16.41, compared with ₹16.03.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 3,094 | 2,806 | +10.2% |
| Profit before tax | 498.10 | 480.80 | +3.6% |
| Net profit | 374 | 364.20 | +2.7% |
| EPS (₹) | 16.41 | 16.03 | +2.4% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
As of 30 September 2026, total assets were ₹6,135.3 crore, compared with ₹6,083.5 crore on 31 March 2026, and total equity was ₹4,869.7 crore, compared with ₹4,719.1 crore. Borrowings were nil on both dates, while cash fell from ₹416.3 crore to ₹390.5 crore. Trade receivables were ₹800.4 crore, compared with ₹924.2 crore, and trade payables were ₹452.4 crore, compared with ₹367.4 crore.
H1 FY27 operating cash flow was ₹271.3 crore, compared with ₹306.9 crore in H1 FY26. Investing cash flow was ₹1.4 crore, compared with ₹64.5 crore, financing cash flow was negative ₹302.8 crore, compared with negative ₹274.9 crore, and capital expenditure was ₹249.8 crore, compared with ₹22.8 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 6,135 | 6,084 |
| Total equity | 4,870 | 4,719 |
| Borrowings | 0 | 0 |
| Cash and equivalents | 390.50 | 416.30 |
| Inventories | 0 | 0 |
| Trade receivables | 800.40 | 924.20 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 271.30 | 306.90 |
| Cash from investing | 1.40 | 64.50 |
| Cash from financing | −302.80 | −274.90 |
| Capital expenditure | 249.80 | 22.80 |
Source: Company's results filing (XBRL).
How has Zensar Technologies done over the last 8 quarters?
Revenue increased in each of the last eight quarters and reached ₹1,585 crore in Q2 FY27, the highest point in the reported series. The lowest revenue in that sequence was ₹1,325.6 crore in Q3 FY25. EBITDA margin was 15.8% in Q2 FY27, above 14.6% in Q1 FY27 but below the 17.5% peak reached in Q3 FY26.
Net profit reached its highest level of the series at ₹210.6 crore in Q4 FY26, before falling to ₹183.8 crore in Q1 FY27 and rising to ₹190.20 crore in Q2 FY27. The lowest profit was ₹159.8 crore in Q3 FY25. Revenue has continued to rise, while profit and margin have moved unevenly.
Which businesses drove the quarter?
Digital and Application Services reported revenue of ₹1,244.6 crore in Q2 FY27, up 12.5% from ₹1,106.1 crore in the year-ago quarter. Segment EBIT was ₹193.6 crore, compared with ₹187.2 crore, and the EBIT margin was 15.6%.
Cloud Infrastructure and Security reported revenue of ₹340.6 crore, up 8.1% from ₹315.2 crore in Q2 FY26. Segment EBIT was ₹62.7 crore, compared with ₹63.7 crore, while the EBIT margin was 18.4%.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Digital and Application Services | 1,245 | +12.5% | 193.60 | 15.6% |
| Cloud Infrastructure and Security | 340.60 | +8.1% | 62.70 | 18.4% |
Source: Company's results filing (XBRL segment data).
What else did the company announce?
On 28 October 2026, the board approved the scheme for amalgamating wholly owned subsidiary M3BI India Private Limited with Zensar Technologies and dissolving the subsidiary without winding up. No shares or consideration would be issued, and there would be no change in Zensar Technologies’ equity shareholding pattern. The scheme remains subject to NCLT sanction and other required approvals.
The same-day filings also reported 4.1% sequential constant-currency revenue growth for Q2 FY27. No dividend, fund raise or appointment was disclosed in the filings provided.
What did Zensar Technologies' management say?
Management said AI-influenced deals represented 36% of the Q2 FY27 order book and that ZenseAI was moving from proof of value to production-scale adoption across several clients. The company’s release also cited volume momentum across focus geographies and a 15.8% EBITDA margin, which was 120 basis points higher sequentially.
The CFO said demand was supported by continued investment in AI and digital modernisation, while workforce needs were changing and the cybersecurity landscape was becoming more complex. No numerical guidance, change in guidance, additional risk list or analyst questions were included in the available earnings-call data.
How did Zensar Technologies shares react?
The filing appeared after market hours. From the ₹503.0 price when the filing appeared, the stock was down 1.4% after five minutes, 1.1% after 15 minutes and 1.6% after 30 minutes. On the reaction day, it closed 8.2% above the ₹496.9 pre-results close, and by the next day’s close it was 7.7% above that level.
The industry median rose 0.5% on the reaction day and fell 0.4% by the next close. Zensar Technologies’ excess performance over the industry was 7.7 percentage points on the reaction day and 8.1 percentage points by the next close. Earlier results-day moves included declines of 2.3%, 5.0%, 3.4% and 5.1% on 29 July 2026, 24 April 2026, 22 January 2026 and 31 October 2025, respectively.
| After the filing | Stock | Computers - Software & Consulting median |
|---|---|---|
| 5 minutes | −1.4% | |
| 15 minutes | −1.1% | |
| 30 minutes | −1.6% | |
| Reaction day | +8.2% | +0.5% |
| Next day | +7.7% | −0.4% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 29 July 2026 | −2.3% |
| 24 April 2026 | −5.0% |
| 22 January 2026 | −3.4% |
| 31 October 2025 | −5.1% |
| 22 July 2025 | +0.4% |
| 22 January 2025 | +2.1% |
| 22 October 2024 | +4.9% |
| 22 July 2024 | +2.2% |
Source: MarketPing price-reaction measurement.
How did other Computers - Software & Consulting companies do?
Among 33 other Computers - Software & Consulting companies that had filed for the quarter, the median revenue growth was 13.6%. Twelve peers grew slower than Zensar Technologies and 20 grew faster. Of 32 peers for which profit was compared, 20 reported higher profit.
| Zensar Technologies revenue growth (YoY) | +11.5% |
|---|---|
| Median of 33 other Computers - Software & Consulting companies | +13.6% |
| Companies with slower revenue growth than Zensar Technologies | 12 of 33 |
| Companies with faster revenue growth than Zensar Technologies | 20 of 33 |
| Companies whose net profit rose | 20 of 32 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Zensar Technologies' revenue in Q2 FY27?
Revenue from operations was ₹1,585 crore, up 11.5% from ₹1,421 crore in Q2 FY26 (consolidated).
Did Zensar Technologies make a profit in Q2 FY27?
Yes. Net profit was ₹190.20 crore, against a net profit of ₹182.20 crore in Q2 FY26.
What was Zensar Technologies' EPS in Q2 FY27?
Basic earnings per share were ₹8.33, against ₹8.02 in Q2 FY26.
How did Zensar Technologies shares react to the Q2 FY27 results?
On the reaction day the stock moved +8.2% from the previous close; the median Computers - Software & Consulting stock moved +0.5%.
When did Zensar Technologies announce its Q2 FY27 results?
On 28 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Considering And Approving The Un-Audited Financial Results For The Quarter Ended September 30, 2026 And To Consider Any Other Matter(S), If Any (BSE, 7 October 2026) · PDF
- Board Meeting Outcome for Outcome Of Board Meeting (BSE, 28 October 2026) · PDF
- Outcome Of Board Meeting (BSE, 28 October 2026) · PDF
- The earnings call (4 November 2026)
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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