WEBSITE BSE:532755 NSE: TECH MAH Inc. Year: 1986 Industry: IT - Software
Last updated: 15:56
Tech Mahindra Limited is an India-based provider of digital transformation, consulting and commercial enterprise re-engineering services and solutions. The Company operates thru two segments: Information Technology (IT) Services and Business Processing Outsourcing (BPO). Its geographical segments include America, Europe region, India and the Rest of the arena. The Company's merchandise/offerings include telecom services, consulting, application outsourcing, infrastructure outsourcing, engineering offerings, enterprise services organization, pla...Read More
Tech Mahindra Limited is an India-based provider of digital transformation, consulting and commercial enterprise re-engineering services and solutions. The Company operates thru two segments: Information Technology (IT) Services and Business Processing Outsourcing (BPO). Its geographical segments include America, Europe region, India and the Rest of the arena. The Company's merchandise/offerings include telecom services, consulting, application outsourcing, infrastructure outsourcing, engineering offerings, enterprise services organization, platform solutions and mobile price-introduced offerings. The Company serves industries, including communications, production, technology, media and leisure, banking, financial services and coverage, and retail, transport and logistics. Its subsidiaries comprises Tech Mahindra Luxembourg S.A r.L., Yabx India Private Limited, Tech Mahindra Credit Solutions Inc, Tech Mahindra Technology Services LLC, Zen3 Infosolutions (America) Inc. And Oslo Solutions LLC. ...Read Less
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Market Cap ₹161129 Cr.
Stock P/E 37.9
P/B 5.6
Current Price ₹1644.6
Book Value ₹ 292.6
Face Value 5
52W High ₹1854
Dividend Yield 2.74%
52W Low ₹ 1209.7
Price goes above X
Price falls below X
PE goes above X
PE falls below X
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| #(Fig in Cr.) | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 12864 | 13101 | 12871 | 13006 | 13313 | 13286 | 13384 | 13351 | 13995 | 14393 |
| Other Income | 264 | 88 | 374 | 145 | 522 | 17 | 173 | 218 | 40 | -22 |
| Total Income | 13128 | 13189 | 13245 | 13150 | 13835 | 13302 | 13557 | 13570 | 14035 | 14372 |
| Total Expenditure | 11941 | 11955 | 11772 | 11441 | 11563 | 11477 | 11544 | 11416 | 11827 | 12028 |
| Operating Profit | 1187 | 1234 | 1473 | 1709 | 2272 | 1826 | 2013 | 2154 | 2208 | 2344 |
| Interest | 98 | 117 | 59 | 72 | 89 | 76 | 85 | 78 | 77 | 94 |
| Depreciation | 466 | 443 | 461 | 462 | 470 | 459 | 462 | 458 | 469 | 474 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -272 |
| Profit Before Tax | 624 | 674 | 953 | 1176 | 1713 | 1291 | 1465 | 1618 | 1662 | 1504 |
| Provision for Tax | 110 | 155 | 295 | 313 | 456 | 309 | 322 | 489 | 458 | 387 |
| Profit After Tax | 514 | 519 | 658 | 862 | 1257 | 982 | 1143 | 1128 | 1205 | 1118 |
| Adjustments | -20 | -9 | 3 | -11 | -7 | 1 | 24 | 12 | -10 | 4 |
| Profit After Adjustments | 494 | 510 | 661 | 852 | 1250 | 983 | 1167 | 1141 | 1195 | 1122 |
| Adjusted Earnings Per Share | 5.6 | 5.8 | 7.5 | 9.6 | 14.1 | 11.1 | 13.2 | 12.9 | 13.5 | 12.7 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 22621 | 26494 | 29141 | 30773 | 34742 | 36868 | 37855 | 44646 | 53290 | 51996 | 52988 | 55123 |
| Other Income | 483 | 579 | 939 | 1444 | 534 | 1192 | 787 | 1142 | 965 | 959 | 1151 | 409 |
| Total Income | 23105 | 27073 | 30079 | 32217 | 35276 | 38060 | 38642 | 45788 | 54255 | 52955 | 54140 | 55534 |
| Total Expenditure | 18806 | 22363 | 25117 | 26090 | 28405 | 31359 | 31059 | 36656 | 45498 | 47531 | 46321 | 46815 |
| Operating Profit | 4299 | 4710 | 4962 | 6126 | 6871 | 6701 | 7583 | 9132 | 8757 | 5423 | 7819 | 8719 |
| Interest | 69 | 97 | 129 | 162 | 133 | 192 | 174 | 163 | 326 | 392 | 322 | 334 |
| Depreciation | 611 | 759 | 978 | 1085 | 1129 | 1446 | 1458 | 1520 | 1957 | 1817 | 1853 | 1863 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -272 |
| Profit Before Tax | 3618 | 3857 | 3853 | 4879 | 5543 | 5058 | 5953 | 7452 | 6446 | 3224 | 5653 | 6249 |
| Provision for Tax | 960 | 830 | 1002 | 1093 | 1254 | 1160 | 1600 | 1822 | 1589 | 828 | 1400 | 1656 |
| Profit After Tax | 2659 | 3027 | 2851 | 3786 | 4289 | 3897 | 4353 | 5630 | 4857 | 2397 | 4253 | 4594 |
| Adjustments | -31 | -34 | -38 | 14 | 9 | 136 | 75 | -64 | -26 | -39 | -2 | 30 |
| Profit After Adjustments | 2628 | 2993 | 2813 | 3800 | 4298 | 4033 | 4428 | 5566 | 4831 | 2358 | 4252 | 4625 |
| Adjusted Earnings Per Share | 27.3 | 34.4 | 32.1 | 43 | 48.4 | 46.3 | 50.7 | 63.4 | 54.9 | 26.7 | 48.1 | 52.3 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 2% | 6% | 8% | 9% |
| Operating Profit CAGR | 44% | -5% | 3% | 6% |
| PAT CAGR | 77% | -9% | 2% | 5% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -3% | 17% | 11% | 14% |
| ROE Average | 16% | 14% | 17% | 20% |
| ROCE Average | 20% | 18% | 21% | 23% |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 12249 | 15821 | 17668 | 20073 | 21515 | 23044 | 26095 | 28116 | 29155 | 27900 | 28592 |
| Minority's Interest | 160 | 193 | 464 | 509 | 478 | 393 | 380 | 495 | 470 | 477 | 430 |
| Borrowings | 46 | 197 | 385 | 771 | 209 | 179 | 166 | 142 | 129 | 103 | 0 |
| Other Non-Current Liabilities | 64 | 146 | 889 | 591 | 306 | 1968 | 1847 | 2793 | 1782 | 888 | 941 |
| Total Current Liabilities | 6939 | 5636 | 6393 | 7917 | 10331 | 10926 | 10278 | 12505 | 13321 | 12617 | 12674 |
| Total Liabilities | 19458 | 21993 | 25799 | 29861 | 32838 | 36509 | 38765 | 44052 | 44857 | 41984 | 42637 |
| Fixed Assets | 4033 | 4309 | 6359 | 7432 | 6890 | 8728 | 8929 | 14704 | 14857 | 13832 | 13948 |
| Other Non-Current Assets | 3173 | 2697 | 3114 | 4322 | 4382 | 4609 | 4575 | 4892 | 5567 | 4727 | 5011 |
| Total Current Assets | 12253 | 14986 | 16300 | 18107 | 21566 | 23172 | 25260 | 24456 | 24433 | 23425 | 23679 |
| Total Assets | 19458 | 21993 | 25799 | 29861 | 32838 | 36509 | 38765 | 44052 | 44857 | 41984 | 42637 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 1452 | 1206 | 2394 | 2001 | 1966 | 2043 | 3017 | 2690 | 3789 | 4056 | 4347 |
| Cash Flow from Operating Activities | 2448 | 3137 | 4071 | 3554 | 4432 | 4358 | 8094 | 5285 | 5572 | 6376 | 5786 |
| Cash Flow from Investing Activities | -2092 | -1460 | -2890 | -3360 | -2116 | 1029 | -5450 | 482 | -279 | -1314 | 12 |
| Cash Flow from Financing Activities | -829 | -496 | -1571 | -269 | -2251 | -4466 | -2987 | -4667 | -5078 | -4767 | -5834 |
| Net Cash Inflow / Outflow | -473 | 1181 | -389 | -76 | 64 | 921 | -343 | 1100 | 215 | 296 | -37 |
| Closing Cash & Cash Equivalent | 1206 | 2394 | 2001 | 1966 | 2043 | 3017 | 2690 | 3789 | 4056 | 4347 | 4319 |
| # | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 27.35 | 34.36 | 32.05 | 43.01 | 48.43 | 46.26 | 50.66 | 63.42 | 54.9 | 26.71 | 48.05 |
| CEPS(Rs) | 34.03 | 43.46 | 43.63 | 55.14 | 61.05 | 61.29 | 66.48 | 81.48 | 77.43 | 47.74 | 69.01 |
| DPS(Rs) | 6 | 12 | 9 | 14 | 14 | 15 | 45 | 45 | 50 | 40 | 45 |
| Book NAV/Share(Rs) | 123.2 | 161.16 | 181.06 | 208.6 | 223.98 | 245.32 | 279.11 | 301.7 | 312.96 | 298.72 | 306.78 |
| Core EBITDA Margin(%) | 16.87 | 15.59 | 13.81 | 15.22 | 18.24 | 14.94 | 17.95 | 17.9 | 14.62 | 8.59 | 12.58 |
| EBIT Margin(%) | 16.3 | 14.92 | 13.66 | 16.38 | 16.34 | 14.24 | 16.19 | 17.06 | 12.71 | 6.96 | 11.28 |
| Pre Tax Margin(%) | 15.99 | 14.56 | 13.22 | 15.85 | 15.96 | 13.72 | 15.73 | 16.69 | 12.1 | 6.2 | 10.67 |
| PAT Margin (%) | 11.75 | 11.42 | 9.78 | 12.3 | 12.34 | 10.57 | 11.5 | 12.61 | 9.11 | 4.61 | 8.03 |
| Cash Profit Margin (%) | 14.46 | 14.29 | 13.14 | 15.83 | 15.59 | 14.49 | 15.35 | 16.02 | 12.79 | 8.1 | 11.52 |
| ROA(%) | 15.19 | 14.6 | 11.93 | 13.6 | 13.68 | 11.24 | 11.57 | 13.6 | 10.93 | 5.52 | 10.05 |
| ROE(%) | 25.57 | 23.39 | 19.05 | 22.07 | 22.39 | 18.89 | 19.02 | 22.13 | 17.98 | 8.89 | 15.9 |
| ROCE(%) | 32.78 | 26.48 | 22.15 | 24.29 | 24.69 | 21.42 | 22.99 | 26.49 | 22.41 | 12.02 | 20.43 |
| Receivable days | 77.08 | 75.61 | 69.57 | 70.19 | 70.69 | 71.95 | 80.07 | 85.7 | 84.98 | 85.23 | 79.04 |
| Inventory Days | 0.28 | 0.45 | 0.64 | 0.75 | 0.74 | 0.55 | 0.29 | 0.26 | 0.22 | 0.21 | 0.26 |
| Payable days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| PER(x) | 23.02 | 13.84 | 14.34 | 14.84 | 16.03 | 12.21 | 19.57 | 23.64 | 20.07 | 46.81 | 29.51 |
| Price/Book(x) | 5.11 | 2.95 | 2.54 | 3.06 | 3.47 | 2.3 | 3.55 | 4.97 | 3.52 | 4.19 | 4.62 |
| Dividend Yield(%) | 0.95 | 2.52 | 1.96 | 2.19 | 1.8 | 2.66 | 4.54 | 3 | 4.54 | 3.2 | 3.17 |
| EV/Net Sales(x) | 2.6 | 1.45 | 1.32 | 1.81 | 1.97 | 1.32 | 2.26 | 2.89 | 1.77 | 2.06 | 2.29 |
| EV/Core EBITDA(x) | 13.67 | 8.17 | 7.76 | 9.1 | 9.97 | 7.25 | 11.27 | 14.15 | 10.77 | 19.76 | 15.53 |
| Net Sales Growth(%) | 20.13 | 17.12 | 9.99 | 5.6 | 12.9 | 6.12 | 2.68 | 17.94 | 19.36 | -2.43 | 1.91 |
| EBIT Growth(%) | -5.33 | 7.23 | 0.71 | 26.61 | 12.6 | -7.52 | 16.71 | 24.28 | -11.08 | -46.59 | 65.21 |
| PAT Growth(%) | -13.19 | 13.84 | -5.81 | 32.81 | 13.27 | -9.13 | 11.69 | 29.34 | -13.73 | -50.65 | 77.44 |
| EPS Growth(%) | -15.66 | 25.64 | -6.72 | 34.2 | 12.59 | -4.48 | 9.52 | 25.19 | -13.44 | -51.34 | 79.87 |
| Debt/Equity(x) | 0.06 | 0.08 | 0.09 | 0.13 | 0.1 | 0.12 | 0.07 | 0.06 | 0.06 | 0.06 | 0.02 |
| Current Ratio(x) | 1.77 | 2.66 | 2.55 | 2.29 | 2.09 | 2.12 | 2.46 | 1.96 | 1.83 | 1.86 | 1.87 |
| Quick Ratio(x) | 1.76 | 2.65 | 2.54 | 2.28 | 2.08 | 2.12 | 2.46 | 1.95 | 1.83 | 1.85 | 1.87 |
| Interest Cover(x) | 53.36 | 40.76 | 30.96 | 31.04 | 42.62 | 27.36 | 35.21 | 46.83 | 20.8 | 9.22 | 18.57 |
| Total Debt/Mcap(x) | 0.01 | 0.02 | 0.03 | 0.04 | 0.03 | 0.05 | 0.02 | 0.01 | 0.01 | 0.01 | 0 |
| # | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 35.13 | 35.11 | 35.09 | 35.05 | 35.03 | 35.01 | 35.01 | 35 | 34.98 | 34.98 |
| FII | 26.22 | 24.58 | 24.15 | 23.28 | 23.66 | 24.19 | 22.95 | 23.28 | 20.6 | 17.94 |
| DII | 27.2 | 29.09 | 29.59 | 30.83 | 31.07 | 30.81 | 32.28 | 32.29 | 34.8 | 37.95 |
| Public | 11.44 | 11.23 | 11.17 | 10.85 | 10.24 | 9.99 | 9.77 | 9.43 | 9.61 | 9.14 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 34.27 | 34.27 | 34.27 | 34.27 | 34.27 | 34.27 | 34.27 | 34.27 | 34.27 | 34.27 |
| FII | 25.58 | 23.99 | 23.59 | 22.76 | 23.15 | 23.68 | 22.47 | 22.8 | 20.18 | 17.57 |
| DII | 26.54 | 28.4 | 28.91 | 30.14 | 30.4 | 30.15 | 31.6 | 31.62 | 34.09 | 37.18 |
| Public | 11.16 | 10.96 | 10.91 | 10.61 | 10.02 | 9.77 | 9.56 | 9.23 | 9.42 | 8.95 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 97.55 | 97.62 | 97.68 | 97.79 | 97.83 | 97.88 | 97.9 | 97.92 | 97.96 | 97.97 |
* The pros and cons are machine generated.
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