Coforge revenue jumps 49% in first Encora quarter to ₹5,527.7 cr
First full consolidation of Encora powers revenue to ₹5,527.7 crore, but net profit of ₹531.7 crore is broadly in line with guided trajectory. Board reappoints OP Bhatt, approves China entity.
— 5 earlier stories on Coforge Ltd. →What's new
- Revenue rose 49% YoY to ₹5,527.7 crore as Encora consolidation kicked in.
- Net profit at ₹531.7 crore; board declared ₹4 interim dividend per share.
- OP Bhatt reappointed as chairperson for a second five-year term from May 2027; in-principle nod for China entity.
Why this matters
This quarter marks the first full Encora consolidation and follows the Cigniti merger close. The revenue jump was guided, so the focus now shifts to margin delivery – management targets 20.5% EBITDA margin for FY27. The administrative items (chairperson reappointment, China entity) add no near-term earnings impact.
What we're watching
- Margin trajectory – whether Encora lifts or dilutes the 20.5% target.
- Integration progress on Encora and Cigniti, especially client retention and deal ramp.
- Any further details on the China entity – scale, timeline, and strategic rationale.
The full read
Coforge's first fully consolidated Encora quarter delivered a 49% revenue jump to ₹5,527.7 crore, in line with the trajectory management had guided for. Net profit of ₹531.7 crore and an interim dividend of ₹4 per share were broadly as expected. The board also reappointed former SBI chairman OP Bhatt as chairperson for another five years and gave in-principle approval to set up a China entity — both administrative moves with no near-term earnings impact. The real story rests on margin delivery; the FY27 target of 20.5% EBITDA margin remains the key test of whether the Encora and Cigniti acquisitions create value or merely scale revenue.
Questions answered
- Why did Coforge's revenue jump 49% YoY?
- The quarter was the first to fully consolidate Encora, whose acquisition closed in April. The Cigniti amalgamation also completed in June, adding to the revenue base.
- Is the ₹4 interim dividend in line with past practice?
- Yes. Coforge has a history of paying regular dividends; the ₹4 per share interim is consistent with prior payments.
- What is the FY27 EBITDA margin target?
- Management has guided for a 20.5% EBITDA margin in FY27, which was set in June 2026. The current quarter's margin is not disclosed in this filing.
- Does the China entity approval signal a shift in strategy?
- It is an in-principle approval only, with no disclosed scale or timeline. It does not constitute a material shift at this stage.
- Why was OP Bhatt reappointed as chairperson?
- The board reappointed him for a second five-year term beginning May 2027, reflecting continuity in leadership. No further rationale was provided.
Coforge Ltd.
Latest quarter · Mar 2026
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Story so far
All notes on COFORGE →- 28 Jul 2026 · 12:39 AM IST Coforge revenue jumps 49% in first Encora quarter to ₹5,527.7 cr
- today Coforge lifts FCF conversion target to >100%, flags strong Encora payoffs
- 1d ago Coforge revenue jumps 49% as Encora kicks in
- 1d ago Coforge posts first Encora-inclusive quarter with ₹5,528 cr revenue
- 1d ago Coforge reports first Encora-inclusive quarter; revenue jumps 49% to ₹5,527 cr