climbed 6 per cent on Monday following strong Q2 results. On Friday reported an 86 per cent y-o-y jump in consolidated net profit for the September quarter to about ₹376 crore compared to ₹202 crore in the year-ago period.
The revenue from operations increased by 31.7 per cent to ₹3,985.7 crore in the quarter under review from ₹3,025.6 crore in the same quarter last year. EBIT margin at 14 per cent was up 251 basis points on a q-o-q basis and 240 bps y-o-y.
The board declared second interim dividend of 4 per share (of 2 face value) for the financial year 2025-26. The record date has been fixed as October 31, 2025.
In addition, the board also approved the voluntary winding up of Coforge SF Limited, UK and Coforge DPA UK Limited, stepdown wholly owned subsidiaries.
Brokerages maintain positive stance
Brokerages largely reiterated their positive stance on the stock after the company delivered solid growth, margin expansion, and a turnaround in cash flows. Global brokerages Morgan Stanley and JP Morgan maintained overweight rating at the target prices of ₹2,030 and ₹2,500, respectively.
Jefferies reiterated buy at an increased target price of ₹2,180. Meanwhile, Citi remained cautious with a sell call at ₹1,530 target price.
Domestic brokerage Motilal Oswal observed Coforge’s strong executable order book and resilient client spending across verticals bode well for its organic business. It has maintained buy at ₹2,400 target price.
IDBI Capital reiterated buy call at an upgraded target price of ₹2,030 per share, emphasising the company’s distinctive AI-led solutions, including proprietary platforms across automation and software engineering, fuel its ongoing enterprise transformation work and margin expansion.
Nuvama Institutional Equities retained a buy call and raised its target price from ₹2,000 to ₹2,250 on strong Q2FY26 results. Both Motilal and Nuvama emphasised that the stock remains their top picks in the sector.
Nuvama added that the company’s management has also put to rest all concerns pertaining to margins and cash flows, paving way for a significant re-rating.
The stock hit an early high of ₹1,866.60 on the against the previous close of ₹1,760. It traded 4 per cent higher at ₹1,836.60 at 11.40 am.