Integrating portfolio companies, scaling crucial accounts, hiring senior leaders and expanding high-margin service lines have buoyed Tech Mahindra earnings, and should yield meaningful results ahead. Constant-currency (CC) revenue grew 0.6% sequentially in Q4FY26, beating consensus estimates. The BFSI, technology media & entertainment, and communications verticals drove growth, but retail & healthcare was a sore point. Profit after tax was hurt by higher forex loss. Over FY26, Tech Mahindra’s CC revenue grew 0.6%.