Mphasis says OKIN added Rs 79.991 crore first-half revenue

Mphasis Limited said the acquired OKIN business process outsourcing business contributed Rs 79.991 crore of group revenue in the six months ended 30 September 2026 after control was obtained on 1 April 2026. Mphasis said the transaction’s impact on consolidated profit was not material and disclosed total consideration of Rs 52.159 crore.

How much revenue did Mphasis get from OKIN?

Mphasis reported that OKIN contributed Rs 79.991 crore of group revenue for the six months ended 30 September 2026. Mphasis Corporation, the group’s wholly owned subsidiary, obtained control of the business process outsourcing services business of OKIN Process, Inc. on 1 April 2026, covering the full reported half-year period.

The group reported total revenue from operations of Rs 8,964.984 crore for the six months ended 30 September 2026, compared with Rs 7,634.4 crore in the six months ended 30 September 2025. The filing does not provide an OKIN revenue comparison for the earlier period because Mphasis did not obtain control of the business until 1 April 2026.

Mphasis also reported profit for the period of Rs 1,050.632 crore for the six months ended 30 September 2026, against Rs 910.777 crore a year earlier. However, it specifically described OKIN’s effect on consolidated profits as not material and did not disclose a standalone profit, loss or margin for the acquired operation.

What did Mphasis acquire from OKIN?

Mphasis acquired the OKIN business process outsourcing services business that was focused on servicing a strategic customer of the group. The 1 April 2026 transaction involved the takeover of certain identified employees and subcontractors, while a revenue contract with an identified customer was novated to Mphasis Corporation.

The contract novation means the identified customer revenue contract was transferred to Mphasis Corporation as part of the acquisition. Mphasis disclosed Rs 79.991 crore of OKIN revenue for the half-year ended 30 September 2026, but did not name the strategic customer or provide the customer contract’s duration, billing terms or revenue backlog.

Mphasis said the identifiable intangible assets acquired in the OKIN transaction are tax-deductible. It allocated the transaction’s goodwill to the Technology, Media and Telecom cash-generating unit, or CGU, the accounting unit used for the goodwill allocation; the filing does not state the amount of goodwill assigned to that CGU.

What did Mphasis agree to pay for OKIN?

Mphasis agreed to total consideration of Rs 52.159 crore for OKIN, payable over 12 months from the 1 April 2026 acquisition. The present value of the consideration was Rs 51.503 crore, as reported in the acquisition disclosure.

The total consideration includes Rs 14.225 crore of contingent consideration, payable subject to the achievement of defined milestones. Mphasis did not identify those milestones, disclose when they must be met, or state how much of the contingent amount had been paid or recognised by 30 September 2026.

The cash-flow statement recorded Rs 142.55 crore of payments for consideration and deferred consideration for business acquisitions, net of cash acquired, during the six months ended 30 September 2026. That line covers business acquisitions rather than identifying the payment attributable to OKIN, and the filing therefore does not isolate cash paid for the Rs 52.159 crore OKIN agreement.

Which Mphasis business area is linked to OKIN?

Mphasis assigned OKIN goodwill to the Technology, Media and Telecom CGU, but the filing does not separately assign OKIN revenue to a reported operating segment. A CGU goodwill allocation and an operating-segment revenue disclosure serve different purposes, so the allocation does not establish that all Rs 79.991 crore of OKIN revenue appears in the Technology, Media and Telecom segment.

Technology, Media and Telecom reported six-month revenue of Rs 1,712.354 crore for the period ended 30 September 2026, up from Rs 1,437.966 crore a year earlier. Its segment result increased to Rs 465.229 crore from Rs 320.495 crore, although Mphasis did not attribute either movement specifically to OKIN.

Banking and Financial Services remained the largest reported segment, with revenue of Rs 4,828.841 crore in the latest half-year versus Rs 3,984.07 crore in the previous-year period. In contrast, Logistics and Transportation revenue declined to Rs 354.606 crore from Rs 435.474 crore, while Insurance revenue increased to Rs 1,348.392 crore from Rs 1,061.287 crore.

The acquisition update sits alongside other disclosed transactions in 2026. Mphasis acquired Theory and Practice Business Intelligence Inc. and its subsidiaries on 21 April 2026; that business contributed Rs 3.626 crore of revenue and had a Rs 34.184 crore loss effect on consolidated profits in the same six-month period, unlike OKIN’s disclosed non-material profit impact.

Mphasis also entered a definitive agreement on 1 July 2026 to acquire a Red Oak Tech customer contract for consideration of up to Rs 265.055 crore, including up to Rs 141.994 crore contingent on milestones. As of the board’s 5 November 2026 approval of the financial results, Red Oak’s closing conditions had not been met and that transaction had not been consummated.

Conclusion

Mphasis’s disclosure shows that the completed OKIN acquisition added Rs 79.991 crore of revenue during its first six months under group control, from 1 April to 30 September 2026. The deal brought an identified customer contract, selected employees and subcontractors into Mphasis Corporation, with Rs 52.159 crore of consideration that includes milestone-based payments.

The next matter to watch is whether OKIN achieves the defined milestones tied to Rs 14.225 crore of contingent consideration, because Mphasis has not disclosed the conditions or payment timing. Mphasis also disclosed that the Red Oak agreement remained unclosed on 5 November 2026, leaving the proposed customer-contract acquisition unresolved at that date.