How did Mastek perform in Q1 FY27?

Revenue was ₹985 cr, up 7.7% YoY; net profit rose 15% to ₹106 cr. The UK & Europe segment drove growth.

Which segments drove the growth?

UK & Europe grew 13.8% to ₹664 cr. North America was flat at ₹213 cr, and AMEA declined to ₹108 cr.

What is Mastek's current valuation?

The stock trades at a trailing P/E of 12.1x, with an ROE of 15.3% and debt/equity of 0.23.

Was there any guidance or one-time item in this filing?

No guidance changes or one-time items were disclosed. The filing is a routine earnings release with numbers close to recent trends.

Earnings · IT - Software · Small cap

Mastek's UK unit drives 15% profit jump in Q1 FY27

Revenue rises 7.7% to ₹985 cr, but North America flat and AMEA down. Stock trades at 12.1x trailing earnings.

— 4 earlier stories on Mastek Ltd. →

MASTEK By Tipsheet Editorial 21 Jul 2026 · 7:02 PM IST Verify on BSE · NSE

Mkt cap₹4,883 cr

P/E12.09×

ROE15.27%

Debt / eq.0.23

Div yld1.50%

₹664 cr UK & Europe revenue, up 13.8% YoY

What's new

Consolidated net profit up 15% YoY to ₹106 cr on revenue of ₹985 cr.
UK & Europe segment climbs 13.8% to ₹664 cr; North America flat at ₹213 cr.
Board updates code of practices for fair disclosure of UPSI.

Why this matters

The UK segment continues to be the growth engine, but the flat North America and declining AMEA show concentration risk. The moderate growth and lack of guidance changes mean this is a routine update that doesn't alter the investment case.

What we're watching

Whether North America revenue picks up in coming quarters.
Any update on the ₹123 cr tax order from June prior coverage.
Management commentary on deal pipeline.

The full read

Mastek delivered a solid but unspectacular first quarter. Net profit jumped 15% to ₹106 cr on revenue of ₹985 cr, which grew 7.7% just above the trailing 3.6% screener rate. The UK & Europe segment was the clear star, climbing 13.8% to ₹664 cr. That powered the profit beat. But North America stalled at ₹213 cr, and AMEA shrank to ₹108 cr. The stock at 12.1x trailing earnings looks cheap, but the lack of broad-based growth explains the discount. The board's code update is procedural. No guidance change means the market already had this number priced in. A steady quarter, but the concentration risk is now the main story.

Questions answered

How did Mastek perform in Q1 FY27?: Revenue was ₹985 cr, up 7.7% YoY; net profit rose 15% to ₹106 cr. The UK & Europe segment drove growth.
Which segments drove the growth?: UK & Europe grew 13.8% to ₹664 cr. North America was flat at ₹213 cr, and AMEA declined to ₹108 cr.
What is Mastek's current valuation?: The stock trades at a trailing P/E of 12.1x, with an ROE of 15.3% and debt/equity of 0.23.
Was there any guidance or one-time item in this filing?: No guidance changes or one-time items were disclosed. The filing is a routine earnings release with numbers close to recent trends.

Mentioned: Mastek Ltd. · UK & Europe segment · ₹664 cr

Primary source BSE · NSE · Tijori

An independent reading of the company's own disclosure — the primary filing above is the final word.

Company snapshot

Mastek Ltd.

Software Services

₹5,246 cr

P/E 12.56×

Latest quarter · Jun 2026

Sales₹985 cr

Net profit₹106 cr

Op. margin+15.4%

EPS₹34.15

Strength & growth

Debt / equity0.23×

Current ratio1.95×

Sales CAGR+22.1%

EPS CAGR+38.8%

Story so far

All notes on MASTEK →

21 Jul 2026 · 7:02 PM IST Mastek's UK unit drives 15% profit jump in Q1 FY27
today Mastek's Q1 transcript confirms $310M backlog, $25M AI deal
7d ago Mastek posts 7.7% revenue growth in Q1, profit up 15%
29d ago Mastek helps Yanbu Cement double truck turnaround via IoT
55d ago Mastek's ₹123.58 cr tax bill is 3.3% of revenue. Management says the math is wrong.