The comments come days after a series of changes at Coforge’s board, including the resignation of independent director and NRC chairperson DK Singh and chairman OP Bhatt. The company had said the board had rejected claims of differences and tension between independent and executive directors.
The company said the recent developments have not changed its strategy or priorities and that the outlook remains intact.
Coforge’s board has also begun the process of strengthening its independent director pool. The company said it has engaged a global search firm to identify and onboard new independent directors.
On the board front, Coforge said it has engaged a global search firm to identify and onboard new independent directors. The search is global in nature, the company said.
Interim Chair Vivek Sharma, who took over the role until January 31, 2027, will not contest for the permanent chairperson position. Coforge said it will consider only an independent director for the permanent chairperson role.
On the ongoing audit, the company said KPMG is conducting the current internal audit. The audit process is continuing, while the remaining process does not concern board members, Coforge said.
The audit follows observations around the process used for the Board Evaluation Exercise for the July-September 2026 quarter.
Coforge Q1 results
Coforge’s June-quarter results included the consolidation of Encora Holdings for the first time, making sequential and year-on-year comparisons not directly like-for-like. Reported US dollar revenue rose 21.1% sequentially to $592.2 million, while rupee revenue increased 24.2% to ₹5,527.7 crore.Net profit declined 15.3% sequentially to ₹518.6 crore, impacted by one-off costs including ₹61.3 crore of Encora acquisition and integration expenses, ₹5 crore in legal costs and ₹10.8 crore of provisions against customer receivables. These were partly offset by ₹22.1 crore of forex gains, taking net exceptional costs for the quarter to ₹55 crore.
On an organic basis, Coforge’s constant-currency growth stood at 1.1%, or 5.2% excluding exited businesses. The company also flagged the planned exit of a low-margin $15 million India government portfolio and a $4 million data-centre disinvestment impact during the quarter.
Coforge’s consolidated EBIT margin stood at 16%, ahead of its FY27 guidance of at least 15.5%. The company won $691 million of orders during the quarter, taking its order book to $2.23 billion.
Coforge also declared an interim dividend of ₹4 per share, with August 3, 2026 set as the record date.
Shares of the company ended 0.7% higher at ₹1,846.50 on Friday, ahead of the investor concall. The stock has advanced nearly 12% so far in 2026 and about 5% over the last one year.
