Indian IT major Infosys is set to announce its Q4FY26 results on April 23, with investors closely watching not just earnings, but also management commentary on growth, deal momentum, and macro uncertainties. According to reports from LiveMint, the company's board will meet on April 22-23 to approve audited standalone and consolidated results for the quarter and full year ended March 31, along with a recommendation for a final dividend. However, the stock has faced significant pressure ahead of results, with Infosys shares falling 3.4% to ₹1,268.45 on April 22, reflecting market concerns about potential sequential profit decline and broader IT sector weakness. As per Upstox, the stock is down over 21% so far this year amid market volatility, with the NIFTY IT index down nearly 20% year-to-date.
Brokerages estimate net profit at ₹7,490-7,510 crore, up 4-5% YoY from ₹7,218 crore for Infosys, but could decline 1-3% compared to the previous quarter's ₹7,625 crore. Revenue is projected to grow 13-14% YoY to ₹45,950-46,550 crore from ₹40,925 crore, with modest growth of 1-2% sequentially from Q3FY26's ₹45,479 crore. According to Upstox, the modest sequential growth is attributed to a slowdown in global IT spending and the impact of AI on pricing and demand. As reported by LiveMint, Kotak Institutional Equities expects USD revenue to decline around 1% QoQ to $5,070 million, primarily due to fewer billing days and seasonal weakness. According to ETMarkets.com, the company is likely to post around 14% year-on-year growth in revenue and about 8% growth in profit for the quarter.
According to Upstox, EBIT margin is expected to improve marginally by 8-10 basis points in the range of 21.1% to 21.4%, aided by rupee depreciation. The margin improvement is expected to offset pressures from higher visa costs and performance bonus payouts. Kotak Institutional Equities expects margins to remain steady as the benefits of rupee depreciation are offset by higher visa costs, while large deal wins are seen in the range of $2.5–2.75 billion. The brokerage expects Infosys to guide for 3–5% revenue growth including the Versent acquisition and 2.25–4.25% on an organic basis, implying a CQGR of 1.2–1.9% (0.8–1.6% organic). Motilal Oswal Financial Services expects a 0.7% QoQ decline in constant currency revenue, near the top end of its guidance, with operating margins likely to remain flat despite performance bonus payouts and visa cost pressures.
The biggest trigger for the stock will be Infosys' guidance for FY27, with most brokerages expecting the company to guide for 2-5% CC revenue growth for FY27, with a margin band of 20-22%. ICICI Securities expects growth guidance of 3-5%, while Jefferies and Nuvama peg it at 2-5%. Kotak expects similar growth, with slightly lower organic growth estimates when excluding acquisitions. However, achieving this guidance will require steady quarterly growth momentum, with implied CQGR of around 1-2%, which could be challenging in a volatile demand environment. Infosys' positioning in the evolving AI landscape will be a major discussion point, with the company having unveiled an AI-first framework targeting a $300-400 billion opportunity by 2030 and strengthened partnerships with players such as Anthropic, Cursor, and Intel. Investors will track how quickly AI-led projects move from proof of concept to production and whether these initiatives can offset potential revenue deflation from automation.
On deal activity, total contract value (TCV) is likely to be around $2-3.5 billion during the quarter, with large deal TCV expected in the range of $2-3 billion. According to Upstox, investors will closely track FY27 revenue guidance from the management, new deal wins during the quarter, and management's commentary on the IT discretionary spending. The BFSI segment is expected to remain resilient with some pockets of discretionary spending, while manufacturing may stay under pressure due to tariff-related uncertainty and delayed decision-making. West Asia is also likely to remain weak amid geopolitical tensions. ETMarkets.com reports that deal momentum continues to be a key positive, with brokerages expecting large deal TCV to remain steady in the range of $2.5-3 billion for the quarter. ICICI Securities said that demand remains healthy in verticals such as financial services and energy, resources and utilities, both of which are expected to outperform in FY27.
