Coforge FY26 revenue rises 29.2%, EBIT margin at 14.4%

Results snapshot: growth with higher profitability

Coforge reported its financial results for the quarter and year ended March 31, 2026, highlighting a sharp rise in both revenue and profitability. For FY26, the company said revenue grew 29.2% year-on-year in USD terms to $1,870 million. It also reported an expansion in operating profitability, with FY26 EBIT margin rising 370 basis points year-on-year to 14.4%. Profit after tax (PAT) for FY26 increased 82.1% year-on-year in USD terms to $177.4 million. Coforge attributed part of the improvement to AI-led efficiencies and reiterated its intention to keep building on those levers into FY27.

FY26: revenue and margin expansion in one year

For the full year, Coforge reported EBITDA of $147 million, up 68.2% year-on-year in USD terms. The company said EBITDA margins expanded by 431 basis points year-on-year. EBIT for FY26 came in at $169.6 million, up 73.7% year-on-year in USD terms. The company also reported PAT of $177.4 million for FY26, describing the rise as 82.1% year-on-year in USD terms. Alongside growth, management positioned margin expansion as a key output of its delivery model and operating execution during the year.

Q4 FY26: sequential growth continues

In Q4 FY26, Coforge reported revenue of $189.1 million. The company said this represented 21.2% year-on-year growth in USD terms for the quarter. On a quarter-on-quarter basis, revenue grew 1.7% in USD terms. Coforge also shared that the quarter saw 28.7% year-on-year growth in constant currency terms and 2.0% quarter-on-quarter growth in constant currency terms. The quarterly trend matters for investors tracking whether FY26 momentum carries into FY27 as deal ramps convert into billed revenue.

Management commentary: order visibility and FY27 margin goal

Sudhir Singh, Chief Executive Officer and Executive Director, said FY26 delivered strong year-on-year growth and “material” margin expansion. He highlighted an order executable of $1,750 million as Coforge enters FY27. On profitability, management stated it plans to deliver consolidated EBITDA margin of more than 20.5% in FY27. The company linked the margin outlook to AI-led efficiencies and a delivery approach designed to drive lower operating costs and faster cycle times for clients. The guidance sets a clear benchmark investors can track through quarterly execution.

AI-native positioning: what the company is emphasizing

Coforge described itself as an AI-native engineering services provider, stating that AI is foundational to how it designs and delivers solutions. It said it combines AI agents with an AI-enabled workforce, including specialized FDEs in hybrid pod-based delivery units. The company also stressed “trusted AI”, positioning its solutions as secure, governed, and enterprise-grade. It framed its model as outcome-led, focusing on measurable business outcomes such as lower operating costs, faster cycle times, higher conversion rates, and sustained margin growth. These statements reflect how Coforge is tying operating metrics and client value to its AI-led delivery narrative.

Key numbers table

All figures are as reported by the company in USD terms.

Market impact: what investors may track after these results

Coforge’s FY26 results put the spotlight on two linked variables: growth and operating leverage. The revenue growth rate in USD terms at 29.2% provides the top-line base for FY27 comparisons. The margin data provides the second anchor, with FY26 EBIT margin at 14.4% after a 370 basis point expansion year-on-year. Management’s FY27 plan of consolidated EBITDA margin above 20.5% raises the importance of tracking quarterly delivery efficiency and cost discipline. Order executable of $1,750 million adds a visibility data point that markets often use to assess near-term revenue conversion.

Analysis: why the FY27 EBITDA target stands out

The FY27 EBITDA margin target is materially higher than the FY26 EBIT margin figure disclosed in the release, so investors are likely to focus on the bridge between current margins and the stated objective. Coforge has positioned AI-led efficiencies as a key lever supporting that trajectory. The company’s emphasis on outcome-led delivery and AI agents suggests it expects productivity improvements to translate into better operating performance. At the same time, the Q4 FY26 sequential revenue growth of 1.7% in USD terms provides a near-term reference point on exit velocity into FY27. Investors typically watch whether growth remains strong while the company continues to expand margins, because either element can influence valuation assumptions.

Conclusion: FY26 sets a high base for FY27

Coforge ended FY26 with $1,870 million revenue, higher profitability, and a reported 14.4% EBIT margin following a 370 basis point year-on-year expansion. PAT rose to $177.4 million, up 82.1% year-on-year in USD terms. Management highlighted $1,750 million of order executable and said it plans to deliver consolidated EBITDA margin of more than 20.5% in FY27. The next set of quarterly disclosures will be key to tracking whether the growth rate and margin trajectory remain aligned with that stated plan.