Tech Mahindra Limited TECHM NIFTY50NSEAITECH

Technology · Information Technology Services · India

https://www.techmahindra.com

Tech Mahindra Limited provides information technology services and solutions in the Americas, Europe, India, and internationally. It operates through Information technology Business and Business Process Services segments. It offers application development maintenance, intelligent automation, testing, performance engineering, cloud consulting, engineering and network, data analytics, and artificial intelligence (AI) services. The company also provides business process services, such as Consulting NXT.NOW, growth accelerators, business-process-as-a-service, service desk, technical assistance, supply chain management, finance and accounting, GIS, analytics, trust and safety, and transformation through technology; customer experience and design services; and cyber security, blockchain, and metaverse services. In addition, it offers ESG consulting and talent pool, energy, resource management, supply chain, and data management and reporting solutions, as well as environment, health, and safety solutions; and digital enterprise applications. Further, the company provides Yantr.ai, a field service management software; Kornea, a cloud-native AI-powered workforce management solution; Populii, an enterprise gig platform; AceFin, an AI-based BPaaS solution; AftEAZE, a digital aftermarket platform; netOps.ai, a cloud platform for telco networks; MobiLytix marketing studio; Epselon automation platform; Entellio, a chatbot platform; Blue Marble solution; and InfoWise for enterprise metadata. It serves banking and financial services; communication; energy and utilities; healthcare and life sciences; hi-tech; insurance; manufacturing; media and entertainment; private equity; oil and gas; professional services; retail and consumer goods; and travel, transportation, hospitality, and logistic sectors. It has a collaboration with NVIDIA Corporation to develop AI powered telco network operations reasoning agent. The company was incorporated in 1986 and is based in Pune, India.

Market & Price

Market Cap

₹1.31 L Cr

Current Price

₹1,483.90

High / Low (52W)

₹1,768.40 / ₹1,331.70

Beta

0.18

Valuation

Stock P/E

27.40

Industry PE

25.13

Forward P/E

17.39

PEG Ratio

1.86

Book Value

₹310.38

Price to Book

4.78

P/S

2.31

EV/EBITDA

13.92

Dividend Yield

3.44%

Profitability & Returns

ROCE

20.60%

ROE

16.61%

ROA

9.52%

Profit Margin

8.47%

Op Margin

13.83%

EPS (Latest Qtr)

₹15.24

EPS (TTM)

₹54.16

Balance Sheet & Liquidity

Debt/Equity

0.07

Quick Ratio

1.50

Current Ratio

1.90

Debt

₹2,186.20 Cr

Total Assets

₹49,369.40 Cr

Current Assets

₹27,574.70 Cr

Working Capital

₹13,077.20 Cr

Ownership

Promoter Holding

36.97%

Chg in Prom Hold

FII / Inst Holding

45.15%

Chg in FII Hold

-0.00%

Financial Snapshot

Enterprise Value

₹1.26 L Cr

Total Revenue (TTM)

₹56,815.40 Cr

EBITDA

₹9,034.10 Cr

Free Cash Flow

₹4,812.34 Cr

Operating Cash Flow

₹6,172.00 Cr

Shares Outstanding

₹88.57 Cr

Gross Margin

35.62%

Payout Ratio

83.04%

Growth (CAGR)

Revenue 5Y

2.16%

Profit 5Y

-0.14%

Revenue (YoY)

12.60%

Earnings (YoY)

15.90%

PROS

Healthy ROCE of 20.6%.
Attractive dividend yield of 3.44%.
Generates positive free cash flow.

CONS

Earnings shrank at -0.1% CAGR over 5 years.
In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

Price Chart

NSE TradingView Screener.in

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Technology).

#	Name	CMP ₹	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	TECHM Tech Mahindra Limited NIFTY50NSEAITECH	1,483.90	27.40	₹1.31 L Cr	3.44%	20.60%	16.61%	2.16%	-0.14%
2	TCS Tata Consultancy Services Limited NIFTY50NSEAITECH	2,258.90	16.61	₹8.17 L Cr	5.49%	54.93%	48.40%	5.80%	5.30%
3	INFY Infosys Limited NIFTY50NSEAITECH	1,160.90	15.01	₹4.70 L Cr	4.31%	41.66%	31.44%	3.44%	3.58%
4	HCLTECH HCL Technologies Limited NIFTY50NSEAITECH	1,183.80	19.31	₹3.20 L Cr	8.11%	27.21%	23.36%	8.65%	3.87%
5	WIPRO Wipro Limited NIFTY50NSEAITECH	204.25	16.26	₹2.14 L Cr	8.32%	18.42%	15.49%	4.05%	2.44%
6	LTM LTM Limited NSETECH	4,061.60	24.04	₹1.20 L Cr	1.85%	25.39%	21.29%	8.43%	4.41%
7	LGEINDIA LG ELECTRONICS INDIA LTD NIFTY_MIDNSETECH	1,523.90	61.35	₹1.03 L Cr	-	27.64%	24.72%	0.98%	-
8	WAAREEENER WAAREE ENERGIES LIMITED NIFTY_MIDNSETECH	3,140.80	27.70	₹90,345.53 Cr	0.13%	24.21%	31.57%	71.63%	191.18%
9	OFSS Oracle Financial Services Software Limited NIFTY_MIDNSEAITECH	9,964.00	33.00	₹86,750.89 Cr	6.67%	43.24%	32.61%	10.42%	13.48%

Quarterly Results

Figures in INR.

Metric	Dec 2024	Mar 2025	Jun 2025	Dec 2025	Mar 2026
Revenue	13,285.60 Cr	13,384.00 Cr	13,351.20 Cr	14,393.20 Cr	15,076.10 Cr
Cost of Revenue	8,883.10 Cr	8,716.20 Cr	8,809.70 Cr	9,105.30 Cr	9,590.80 Cr
Gross Profit	4,402.50 Cr	4,667.80 Cr	4,541.50 Cr	5,287.90 Cr	5,485.30 Cr
Operating Expenses	3,052.30 Cr	3,262.50 Cr	3,064.40 Cr	3,396.00 Cr	3,401.10 Cr
Operating Income	1,350.20 Cr	1,405.30 Cr	1,477.10 Cr	1,891.90 Cr	2,084.20 Cr
EBITDA	1,832.10 Cr	2,011.60 Cr	2,154.00 Cr	2,072.40 Cr	2,360.50 Cr
Interest Expense	75.90 Cr	85.30 Cr	77.80 Cr	93.60 Cr	88.80 Cr
Pretax Income	1,297.40 Cr	1,464.20 Cr	1,618.10 Cr	1,505.10 Cr	1,790.60 Cr
Tax Provision	308.60 Cr	322.30 Cr	489.30 Cr	386.50 Cr	434.20 Cr
Net Income	983.20 Cr	1,166.70 Cr	1,140.60 Cr	1,122.00 Cr	1,353.80 Cr
Diluted EPS	11.08	13.15	12.86	12.64	15.24

Profit & Loss (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue	-	53,290.20 Cr	51,995.60 Cr	52,988.30 Cr	56,815.40 Cr
Cost of Revenue	-	38,719.00 Cr	39,027.60 Cr	35,461.50 Cr	36,578.50 Cr
Gross Profit	-	14,571.20 Cr	12,968.00 Cr	17,526.80 Cr	20,236.90 Cr
Operating Expenses	-	8,321.60 Cr	9,545.70 Cr	12,388.60 Cr	13,084.40 Cr
Operating Income	-	6,249.60 Cr	3,422.30 Cr	5,138.20 Cr	7,152.50 Cr
EBITDA	-	8,727.80 Cr	5,433.70 Cr	7,827.80 Cr	9,064.50 Cr
Interest Expense	-	325.60 Cr	392.20 Cr	321.70 Cr	337.40 Cr
Pretax Income	-	6,445.50 Cr	3,224.40 Cr	5,653.20 Cr	6,845.50 Cr
Tax Provision	-	1,588.50 Cr	827.60 Cr	1,400.20 Cr	1,767.60 Cr
Net Income	-	4,831.30 Cr	2,357.80 Cr	4,251.50 Cr	4,810.90 Cr
Diluted EPS	-	54.54	26.58	47.91	54.19

Compounded Sales Growth

5 Years:	2.16%
1 Year:	12.60%

Compounded Profit Growth

5 Years:	-0.14%
1 Year:	15.90%

Stock Price Performance

1 Year:	-4.57%
6 Months:	-0.72%
3 Months:	+2.98%
1 Month:	+1.65%

Balance Sheet (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Total Assets	-	46,153.30 Cr	43,423.60 Cr	44,494.50 Cr	49,369.40 Cr
Current Assets	-	24,432.70 Cr	23,425.30 Cr	23,679.20 Cr	27,574.70 Cr
Cash & Equivalents	-	4,056.30 Cr	4,347.10 Cr	4,318.50 Cr	5,046.10 Cr
Inventory	-	23.60 Cr	37.50 Cr	39.40 Cr	104.20 Cr
Receivables	-	8,142.40 Cr	7,125.60 Cr	6,548.60 Cr	7,536.90 Cr
Total Liabilities	-	17,758.60 Cr	16,276.80 Cr	16,702.80 Cr	19,292.40 Cr
Current Liabilities	-	13,321.00 Cr	12,616.60 Cr	12,674.00 Cr	14,497.50 Cr
Long Term Debt	142.00 Cr	128.80 Cr	102.50 Cr	0	-
Total Debt	-	2,740.20 Cr	2,536.70 Cr	2,025.20 Cr	2,186.20 Cr
Total Equity	-	27,924.50 Cr	26,669.40 Cr	27,361.50 Cr	29,615.40 Cr
Shares Outstanding	-	97.41 Cr	97.68 Cr	97.90 Cr	97.98 Cr

Cash Flows (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow	-	5,572.00 Cr	6,376.40 Cr	5,785.70 Cr	6,172.00 Cr
Investing Cash Flow	-	-278.50 Cr	-1,313.70 Cr	-23.20 Cr	-409.20 Cr
Financing Cash Flow	-	-5,078.10 Cr	-4,767.20 Cr	-5,799.20 Cr	-5,130.50 Cr
Capital Expenditure	-	-1,015.20 Cr	-791.10 Cr	-593.50 Cr	-695.70 Cr
Free Cash Flow	-	4,556.80 Cr	5,585.30 Cr	5,192.20 Cr	5,476.30 Cr
Net Change in Cash	-	215.40 Cr	295.50 Cr	-36.70 Cr	632.30 Cr

Ratios (Annual)

Figures in %.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Gross Margin %	-	27.3%	24.9%	33.1%	35.6%
Operating Margin %	-	11.7%	6.6%	9.7%	12.6%
Net Margin %	-	9.1%	4.5%	8.0%	8.5%
ROE %	-	17.3%	8.8%	15.5%	16.2%
ROCE %	-	19.0%	11.1%	16.1%	20.5%

Shareholding Pattern

Insiders

36.97%

Institutions

45.15%

Public Float

71.64%

Analyst View

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TECHM · Technology