Coforge Limited

On September 11, 2026, Coforge Limited submitted a formal regulatory intimation under Regulation 30 of the SEBI Listing Regulations to the BSE and NSE regarding the outcome of its Board of Directors meeting. The Board officially noted the immediate resignation of Non-Executive Independent Director and Nomination and Remuneration Committee (NRC) Chairperson, Mr. DK Singh (DIN: 10485073), who consequently stepped down from all board committees. In response, the Board appointed Mr. Vivek Sharma as interim Chair till January 31, 2027, to lead a global search for additional independent directors and oversee the election of a permanent Chair. Additionally, the Board reconstituted its Nomination & Remuneration Committee and Stakeholders’ Relationship Committee, designating Ms. Beth Boucher as the new NRC Chairperson.

Detailed disclosures attached to the intimation reveal that the resignation stems from an internal audit review of the Board Evaluation Exercise for the July–September 2026 quarter. The auditor observed that board evaluation reports were restricted to the Board Chairman (Mr. OP Bhatt) and NRC Chair (Mr. DK Singh) without being shared with other directors. Crucially, the evaluation category with the lowest rating—concerning the Chairman’s performance—was omitted from discussions before the NRC and Board. Following inquiries by independent directors, Mr. OP Bhatt resigned earlier in the week, leading to Mr. DK Singh’s exit. While Mr. Singh cited growing tensions between independent and executive directors amid the transition from a private equity-led board, the Board emphasized that strategic decisions have remained unanimous and highlighted significant milestones achieved during this transition, including the Encora acquisition, the Sabre contract, the divestment of AdvantageGo, and exiting loss-making domestic government operations.

Coforge Limited is a leading global digital services and solutions provider leveraging domain expertise and artificial intelligence (AI) engineering to drive enterprise transformation. The company specializes in deep vertical domain solutions across Banking & Financial Services, Insurance, Travel, Transportation & Hospitality, and Healthcare sectors. In calendar year 2025, Coforge demonstrated aggressive strategic expansion and technological innovation. Key updates from 2025 include the execution of major global enterprise contracts such as the Sabre mainframe modernization, strategic partnerships with Microsoft, Intellect, and Innovaccer, and the rollout of proprietary AI architecture platforms including Quasar GenAI and Forge-X. The company also completed significant portfolio realignments during 2025 by acquiring Cigniti Technologies to strengthen digital engineering and quality engineering capabilities, alongside announcing the strategic divestment of its AdvantageGo business unit. Coforge’s equity base is widely held by prominent domestic and foreign institutional investors, including leading mutual funds such as SBI Mutual Fund and ICICI Prudential Mutual Fund.

During the last quarterly financial results announced for Q3 FY25 (ending December 31, 2024), Coforge Limited reported stellar revenue growth and strong margin performance. Consolidated revenue for Q3 FY25 stood at ₹3,318.20 Crores, reflecting robust growth of 8.40% Quarter-on-Quarter (QoQ) compared to ₹3,062.30 Crores in Q2 FY25, and an impressive Year-on-Year (YoY) growth of 42.80% relative to ₹2,323.30 Crores recorded in Q3 FY24. Adjusted Profit After Tax (PAT) for Q3 FY25 reached ₹268.00 Crores, demonstrating a strong expansion of 15.22% QoQ from ₹232.60 Crores in Q2 FY25 and a 10.30% YoY increase from ₹242.90 Crores in Q3 FY24. Driven by robust order executions and expanding operational margins across its Cigniti business unit, the company declared an interim dividend of ₹19 per share.