Tata Technologies Q2 FY27 Earnings Call Transcript Released
Tata Technologies reported Q2 FY27 revenues of US$178 million, a 22.2% YoY increase in constant currency. Services revenue was US$142 million. Operating EBITDA margins were 16.1%. The company secured a US$138 million full vehicle engineering program with a European OEM. Total revenue was ₹1,699 crores, with EBITDA at ₹273 crores.
The announcement includes details on significant revenue growth, key strategic wins (like the $138 million deal), and future outlook, all of which are material for investors and stakeholders.
The company reported strong year-on-year revenue growth, resilient margins despite salary increments, and secured significant new deals, indicating positive business momentum. Positive outlook for full-year growth was also reiterated.
Tata Technologies Limited has released the transcript of its earnings conference call for the quarter ended September 30, 2026. The call, conducted after the Board of Directors meeting on October 14, 2026, featured insights from CEO and MD Warren Harris and CFO Uttam Gujrati.
During the call, Warren Harris highlighted that Q2 FY27 revenues from operations increased by 22.2% year-on-year in constant currency to US$178 million. Services revenue grew 4.3% sequentially and 26.2% year-on-year to US$142 million, comprising approximately 80% of total revenue. Operating EBITDA margins remained resilient at 16.1%, despite absorbing annual salary increments. The company added about 300 associates to support strategic program ramp-ups and saw attrition reduce by 70 basis points sequentially to 15.6%.
Harris emphasized a structural shift in the automotive industry, with Western OEMs increasingly outsourcing engineering and product development. He cited the BMW joint venture as a proof point, where BMW is scaling the JV in India while reducing headcount in Germany. The company secured five large deals in Q2, including a landmark US$138 million full vehicle engineering program with a leading European luxury automotive OEM. Aerospace is emerging as a second growth engine, with demand remaining strong.
Uttam Gujrati provided financial details, stating that services revenue increased 4.3% QoQ in constant currency to ₹1,356 crores. Technology Solutions grew 9.2% year-over-year but declined 6.6% sequentially due to a change in accounting treatment for certain SaaS licenses, impacting revenue by ₹12.6 crores. Total revenue from operations increased 2.1% sequentially to ₹1,699 crores. EBITDA grew 2.2% QoQ and 31.5% YoY to ₹273 crores. The company reiterated its outlook for double-digit consolidated revenue growth for the full year.
The company's net cash position stood at approximately ₹330 crores at the end of Q2, a sequential reduction primarily due to a dividend payout of nearly ₹475 crores. Total headcount was 12,895 associates, a net increase of 316 employees. Trailing 12-month voluntary attrition improved to 15.6% sequentially. The transcript also covered discussions on market conditions in Germany, the growing importance of aerospace, the role of AI in product development, and synergies within the Tata Group for semiconductor value chains.
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