Mastek Emerges as a Strong AI-Led IT Play

is positioning itself as a focused AI-led digital transformation player within the mid-cap IT space, with its Lead with AI strategy increasingly translating into actual order wins. Q1 FY27 revenue rose 5% QoQ to ₹985.3 crore, while the 12-month order backlog increased 25% YoY to ₹2,935 crore, providing improving revenue visibility. More importantly, the company secured 40+ AI-led deals during the quarter, with roughly 45% of new order bookings coming from AI deals. Its Data, Automation and AI business has also expanded meaningfully, while strong exposure to healthcare, government, financial services and enterprise transformation gives Mastek several structural growth opportunities. Cash and investments stood at about ₹945 crore, strengthening the balance sheet. The key risk remains that overall revenue growth is still moderate and EBITDA margin slipped to 15.4% in Q1, while the Middle East business remains affected by geopolitical uncertainty. Nevertheless, accelerating AI adoption, rising order visibility and improving productivity make Mastek an interesting AI-focused IT play. Technically, Mastek appears to be attempting a meaningful recovery after a prolonged corrective phase from the ₹3,000–₹3,400 region. The chart shows the stock finding repeated support around ₹1,450–₹1,500, forming a broad base from which the latest recovery has emerged. Price has now moved back above ₹1,700, indicating improving demand and a potential change in the intermediate trend.