Mahindra Finance PAT is Up by 55% for the Quarter at Rs. 873 Crore

The Board of Directors of Mahindra & Mahindra Financial Services Limited(Mahindra Finance), a leading provider of financial services for Bharat at its meeting held today,announced the audited financial results for the quarter and year ended March 31, 2026. The Boardhas proposed a final dividend of Rs.7.50 per fully paid equity share (375% of face value of Rs 2/- each)Vs Rs 6.50 per share in the last fiscal year.

Speaking on the results, Raul Rebello, MD & CEO, Mahindra Finance said: "This year's progress across growth, margins and risk was driven by disciplined execution and resultedin a tangible step-up in profitability. Continued investments in our core vehicle franchise, new growthcategories, and technology will support sustainable growth and profitability".

Quarterly Performance:

Mahindra Finance PAT up 55% YOY for the quarter, post Q4 management overlay. The Company'sAUM grew by 12% YoY and disbursements grew by 11% YoY. NIM expanded by ~101 bps YoY at 7.5%and credit cost stood at 1.5% for Q4F26 (including overlay) vs 1.4% Q4F25.

Yearly Performance:

For the full year PAT is up by 19% YoY, post labour code and management overlays. Annualdisbursements grew 6% YoY. NIMs expanded during the year supported by higher Fee Income andlower Cost of Funds. Asset quality continued to be within guided range, with GS3 at 3.4% and GS2+GS3at 8.2%, underpinned by enhanced sourcing standards & collection efficiency. The credit cost at 1.7%(including overlays), underscores prudent risk management practices.

Q4 and Full Year FY26 Standalone Results:

Results (₹ Crores)	Q4 FY26	Q4 FY25	YoY %		FY26	FY25	YoY %
Disbursements	17,184	15,530	11%		61,118	57,900	6%
Business AUM	1,34,096	1,19,673	12%		1,34,096	1,19,673	12%
Total Income	4,810	4,245	13%		18,500	16,075	15%
Net Interest Margins (NIM)	2,739	2,156	27%		10,108	8,176	24%
NIM Margin %	7.5%	6.5%			7.1%	6.5%
Pre-Provisioning Operating Profit (PPOP)	1,722	1,213	42%		6,231	4,765	31%
Credit Costs	560	457	23%		2,441	1,618	51%
Credit Costs %	1.5%	1.4%			1.7%	1.3%
Profit After Tax	873	563	55%		2,782	2,345	19%
ROA %	2.4%	1.7%			2.0%	1.9%

Capital Adequacy healthy at 18.8%, Tier-1 Capital at 16.7%. Prudent Provision Coverage on GS3 at 59%through creation of management overlay. Total liquidity buffer comfortable over ~ ₹ 9,100 crores.

Meta Launches One of World’s Largest CPU‑Based AI Expansions with AWS Graviton5

Meta has signed a landmark deal with AWS to deploy tens of millions of Graviton5 cores, marking one of the largest CPU‑based AI infrastructure expansions to date. This partnership reflects a strategic shift toward powering agentic AI workloads—real‑time reasoning, code generation, and multi‑step orchestration—on purpose‑built silicon.

It is considered one of the world’s largest CPU‑based infrastructure expansions because Meta is deploying tens of millions of AWS Graviton5 cores at once—making it one of the biggest single CPU deployments ever announced by a major tech company. This scale places Meta among the largest Graviton customers globally and signals a fundamental shift in AI infrastructure design.

Meta’s initial rollout already involves tens of millions of Graviton cores, with flexibility to expand further. Few companies have ever announced CPU deployments at this magnitude.

The infrastructure is designed to support billions of AI interactions daily, powering agentic AI workloads such as reasoning, orchestration, and code generation.

Meta is now officially one of the largest AWS Graviton customers worldwide, surpassing most other enterprises that use Graviton for cloud workloads.

Why This Deal Matters

• Scale: Meta becomes one of the largest Graviton customers globally, starting with tens of millions of cores and room to expand.
• Shift in AI Infrastructure: While GPUs remain critical for training large models, agentic AI workloads are CPU‑intensive—requiring chips optimized for reasoning and orchestration rather than raw matrix multiplication.
• Energy Efficiency: Graviton5, built on 3‑nanometer technology, delivers up to 25% better performance than its predecessor while reducing environmental impact.

AWS Graviton5: Technical Highlights

AWS Graviton5 is Amazon Web Services’ latest generation of custom‑built ARM‑based CPUs, designed specifically for cloud workloads. It delivers up to 25% better performance than Graviton4, packs 192 cores per chip, and features a cache five times larger—making it one of the most powerful and energy‑efficient CPUs available for large‑scale AI and enterprise applications.   

• 192 cores with a cache 5× larger than the previous generation.
• 33% faster inter‑core communication, enabling higher bandwidth and reduced latency.
• Built on the AWS Nitro System, ensuring high performance, availability, and security.
• Supports Elastic Fabric Adapter (EFA) for low‑latency, high‑bandwidth communication—critical for distributed agentic AI tasks.

Meta’s Strategic Goals

• Diversification of Compute: Expanding to Graviton allows Meta to run CPU‑intensive workloads efficiently at scale.
• Agentic AI at Scale: Infrastructure capable of handling billions of interactions and coordinating multi‑step agent workflows.
• Sustainability: Leveraging Graviton’s efficiency aligns Meta’s AI expansion with sustainability targets.

Industry Implications

• For AWS: Demonstrates AWS’s ability to deliver custom silicon integrated with its full AI stack.
• For Meta: Positions Meta as a leader in agentic AI infrastructure with a hybrid compute strategy.
• For the Market: Signals a broader industry trend—CPU‑optimized chips complement GPU‑driven training.

Comparison: GPU vs. Graviton CPU Workloads

Aspect	GPU (e.g., Nvidia H100)	AWS Graviton5 CPU
Best For	Training large AI models	Agentic AI workloads (reasoning, orchestration, code generation)
Core Count	Thousands of parallel cores	192 high‑performance cores
Latency	Higher for multi‑step tasks	Lower, optimized for reasoning
Energy Efficiency	High but power‑hungry	25% better than previous gen, built for efficiency
Scalability	Clustered GPU farms	Tens of millions of CPU cores, distributed workloads

Expert Voices

• Nafea Bshara, Amazon VP: “This isn’t just about chips; it’s about giving customers the infrastructure foundation to build AI that scales to billions worldwide.”
• Santosh Janardhan, Meta: “Expanding to Graviton allows us to run CPU‑intensive workloads behind agentic AI with the performance and efficiency we need at scale.”

In short: Meta’s massive Graviton5 deployment with AWS signals a new chapter in AI infrastructure—where CPUs, not just GPUs, become central to powering agentic AI systems at global scale.

Wipro Partners with Kongsberg Digital to Deliver AI‑Powered Digital Twin Solutions for Energy & Utilities

Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading AI-powered technology services and consulting company, today announced a strategic partnership with Kongsberg Digital, a global leader in advanced engineering and industrial digitalization, to jointly deploy next‑generation AI‑powered Digital Twin solutions for the Energy & Utilities Sector.

The collaboration brings together Wipro’s consulting-led approach and its AI-powered Wipro Intelligence™ solutions – Industrial-AssetsAI and UpstreamAI – with Kongsberg Digital’s Industrial Work Summit rface solution. Together, Wipro and Kongsberg Digital will enable more reliable, efficient, and safer operations across complex asset networks.

“At the core of this collaboration is a shared vision to rethink how industrial intelligence is designed and applied,” said Srikumar Rao, Managing Partner and Global Head of Engineering, Wipro Limited. “By combining our deep domain expertise in Energy & Utilities and the relevant Wipro Intelligence™ solutions with Kongsberg Digital’s digital twin platform, we are bringing AI, engineering, and operational insight together. This will enable enterprises to embed autonomy into their operations, allowing them to anticipate change, navigate complexity, and build resilience at scale.”

Together, Wipro and Kongsberg Digital will provide organizations with a unified environment that brings together physics‑based engineering models, real‑time operations, and enterprise AI. Once deployed, the joint offering will function as a digital twin that reflects real‑time conditions across plants, grids, and distributed assets. By combining simulation, data, AI, and automation in one integrated framework, Wipro and Kongsberg Digital can help organizations simplify digital transformation and strengthen operational resilience.

“Combining Kongsberg Digital’s Industrial Work Surface—which currently operates at some of the energy industry’s most complex assets—with Wipro’s AI-powered platforms and solutions, this partnership will extend our proven digital twin capability at scale, helping customers move from insight to operational impact faster,” said Shane McArdle, CEO of Kongsberg Digital.

As part of the agreement, Wipro and Kongsberg Digital will advance a joint roadmap to scale AI‑powered digital twin capabilities across Energy & Utilities environments, helping asset‑intensive organizations accelerate innovation, strengthen operational resilience, and deliver sustained improvements in performance, safety, and sustainability.

About Wipro Limited

Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading AI-powered technology services and consulting company focused on building innovative solutions that address clients’ most complex digital transformation needs. Leveraging our consulting-led approach and the Wipro Intelligence™ unified suite of AI-powered platforms, solutions and transformative offerings, we help clients realize their boldest ambitions to build intelligent and sustainable businesses. The Wipro Innovation Network–part of the Wipro Intelligence™ suite–underpins our commitment to client-centric co-innovation and co-creation by bringing together capabilities from the innovation labs and partner labs, academia, and global tech communities. With over 240,000 employees and business partners across 65 countries, we deliver on the promise of helping our customers, colleagues, and communities thrive in an ever-changing world. For additional information, visit us at www.wipro.com.

E‑Rupee Pilots Put India at Forefront of BRICS Digital Currency Push

India is accelerating adoption of its central bank digital currency (CBDC), the e‑rupee, by routing welfare payments through pilot programs, while simultaneously preparing to showcase a BRICS‑wide digital currency initiative at the bloc’s 2026 summit. The move aims to reduce subsidy leakage, create a clear use case for the e‑rupee, and position India as a leader in cross‑border CBDC integration.

Key Highlights of India’s E‑Rupee Push

• 10 pilot programs are underway, channeling parts of India’s $80 billion welfare system through the e‑rupee.
• Maharashtra (Phulenagar village): Farmers receive programmable subsidies covering up to 80% of drip‑irrigation costs, spendable only at approved vendors.
• Gujarat: Target to onboard 7.5 million households eligible for subsidized food by June 2026, using e‑rupee transfers.
• Adoption figures: About 10 million users as of April 2026, with cumulative transactions of $3.6 billion since launch in December 2022 — small compared to UPI’s $300 billion monthly volume.

Strategic Context: BRICS Digital Currency Plan

• The Reserve Bank of India (RBI) is urging the government to advance a CBDC linkage proposal across BRICS economies (Brazil, Russia, India, China, South Africa).
• Goal: Streamline cross‑border trade and reduce reliance on the U.S. dollar.
• Risk: The initiative faces geopolitical pressure, with U.S. tariffs already imposed on Indian imports tied to Russian crude purchases.

Comparative Snapshot: E‑Rupee vs UPI

Feature	E‑Rupee (CBDC)	UPI (Unified Payments Interface)
Launch	Dec 2022	2016
Users (Apr 2026)	~10 million	300+ million
Monthly Transactions	~$0.3 billion	~$300 billion
Programmability	Yes (restricted use cases)	No (open payments)
Adoption Strategy	Welfare pilots, subsidies	Organic consumer/business uptake

Risks & Challenges

• Adoption gap: Welfare pilots may create a captive user base but not necessarily genuine enthusiasm.
• Geopolitical backlash: U.S. opposition to BRICS currency alternatives could trigger trade tensions.
• Competition with UPI: The e‑rupee must prove utility beyond welfare transfers to compete with India’s already dominant digital payments ecosystem.

Outlook

• Short term (2026): Welfare pilots will expand, especially in agriculture and food distribution.
• Medium term (2026 BRICS Summit): India will push for a CBDC interoperability framework across BRICS.
• Long term: Success depends on whether the e‑rupee can evolve from a welfare‑linked instrument into a mainstream payment option with cross‑border utility.

Infosys Completes Stratus Acquisition to Drive AI‑Led Insurance Transformation

Infosys (NSE, BSE, NYSE: INFY), a global leader in AI‑first consulting and technology services, announced the completion of its acquisition of Stratus, a premier technology solutions provider for the property and casualty (P&C) insurance sector. This milestone follows the company’s earlier disclosure on March 25, 2026.

It was in late last month when Infosys announced that it is acquiring two major U.S. companies — Optimum Healthcare and Stratus. 

AI is reshaping the insurance industry worldwide—enhancing decision‑making in underwriting, claims, and fraud detection, while driving intelligent systems and operational efficiency. The P&C segment is at the forefront of this transformation, propelled by the demand for claims automation, advanced underwriting, and sophisticated risk modeling amid rising claim volumes and heightened risk exposure. Infosys is enabling P&C insurers to unlock AI‑driven value through digital and data‑centric transformation.

Headquartered in the United States, Stratus brings a team of over 450 professionals with deep domain expertise, consulting excellence, and advanced technology capabilities. As a leading Guidewire Software partner, Stratus delivers transformation solutions for P&C insurers, with a global delivery footprint spanning the U.S., Canada, and India. Its offerings include end‑to‑end Guidewire InsuranceSuite capabilities across PolicyCenter, ClaimCenter, BillingCenter, integrations, upgrades, cloud migrations, and managed services.

By combining Stratus’ strong Guidewire and P&C consulting expertise with Infosys’ global scale, Infosys Topaz AI suite, and Infosys Cobalt cloud offerings, the company is positioned to accelerate insurers’ core modernization, cloud adoption, data‑driven transformation, and customer experience enhancement. The acquisition also strengthens Infosys’ reach among new insurance clients and key decision‑making centers worldwide.