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Tech Mahindra Ltd

₹ 1,6251.46%
07 Jan – close price
🔗techmahindra.com•BSE: 532755•NSE: TECHM
Market Cap₹ 1,59,319 Cr.
Current Price₹ 1,625
High / Low₹ 1,736
Stock P/E40.6
Book Value₹ 221
Dividend Yield2.77 %
ROCE18.2 %
ROE14.0 %
Face Value₹ 5.00
Sales₹ 46,422 Cr.
OPM11.2 %
Mar Cap₹ 1,59,319 Cr.

ABOUT

Tech Mahindra Ltd provides comprehensive range of IT services, including IT enabled service, application development and maintenance, consulting and enterprise business solutions, etc. to a diversified base of corporate customers in a wide range of industries.[1]

KEY POINTS

ParentageThe company is a subsidiary of the Mahindra Group, a leading global conglomerate with operations in 100+ countries. The group manages 150 companies across 22 major industries, including renewable energy, agriculture, logistics, hospitality, real estate, aerospace, automotive components, and consulting services, etc.[1]

Also present in buckets:
Aggressive Growth TriggersExcellent ResultsRevenue GuidanceAsset Base ExpansionCapacity Expansion And ProductsPreferential IssuanceOrder Book PositionLarge Order ReceiptsJv Partnerships AcquisitionsCredit Rating UpdatesRed Flags And Poor Performance

Peer Comparision

S.No.NameCurrent Price (Rs.)Price to EarningMarket Capitalization (Rs.Cr.)Dividend yield (%)Net Profit latest quarter (Rs.Cr.)YOY Quarterly profit growth (%)Sales latest quarter (Rs.Cr.)YOY Quarterly sales growth (%)Return on capital employed (%)Sales (Rs.Cr.)OPM (%)Profit after tax (Rs.Cr.)Profit after tax latest quarter (Rs.Cr.)Price to book valueReturn on assets (%)Debt to equity
1.TCS3295.6023.711192395.231.8212131.008.5465799.002.4064.63257688.0026.7250289.6912925.6911.2032.070.10
2.Infosys1639.0023.65664993.172.627375.0013.1944490.008.5537.50169458.0023.8828124.007364.006.5918.620.08
3.HCL Technologies1647.7026.34447130.603.284236.000.0031942.0010.6731.61122427.0021.1716976.004235.006.2816.950.10
4.Wipro270.8021.05284143.392.223262.401.1722697.301.7719.5189654.9019.8213500.003246.203.3210.820.19
5.LTIMindtree6102.0037.17180987.321.071381.2012.0010394.3010.1927.6339667.5017.064869.101401.107.7315.830.10
6.Tech Mahindra1625.2040.61159318.802.771175.70-8.1812067.608.9418.2346422.0011.163922.801175.707.368.970.05
7.Persistent Systems6513.5061.78102868.170.54471.4745.073580.7223.5930.4413218.7018.281665.16471.4714.2516.840.06
–Median: 72 Co.284.6226.56718.080.249.7216.3269.0914.2620.49176.3718.5529.599.723.7411.820.08

Quarterly Results

Standalone figures in ₹ crores

Dec 2022Dec 2023Dec 2024Jun 2023Jun 2024Jun 2025Mar 2023Mar 2024Mar 2025Sep 2022Sep 2023Sep 2024Sep 2025
Sales
10,98810,69911,17610,69710,78011,59510,93810,58411,58410,59910,44011,07712,068
Expenses
9,59310,0899,9999,9119,77710,1789,8959,82410,5529,58110,10210,03110,511
Operating Profit
1,3956101,1777871,0031,4171,0437591,0311,0183371,0461,557
Other Income
36925817520112539480198163536514870246
Profit before tax
1,5105831,0757298661,5418646839181,3065871,6381,533
Tax %
20%11%20%23%24%24%22%30%23%27%5%22%23%
Net Profit
1,2045178585606571,1786774807109565561,2801,176
EPS in Rs
12.375.298.775.746.7212.036.954.927.269.835.7013.0912.00

Profit & Loss

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales
16,26619,16320,97023,16523,69227,22829,22529,64135,76142,65742,70044,61746,422
Expenses
12,71615,89417,59219,49419,79322,05925,48124,31129,97037,88840,12340,35941,240
Operating Profit
3,5513,2683,3783,6723,8995,1693,7445,3305,7924,7702,5774,2585,182
Other Income
2011841,0948931,7289602,3229221,4471,1281,0691,333979
Interest
874853647143676369181251239236
Depreciation
427473542622656659667662740813850855857
Profit before tax
3,2382,9303,8763,8794,9005,4275,3325,5276,4294,9042,5454,4975,067
Net Profit
2,6862,2563,1733,0473,9944,3804,5344,2395,0233,7782,0643,5063,923
EPS in Rs
28.7623.4832.7831.2840.7744.5446.9543.7851.6938.7821.1335.8140.06
Dividend Payout %
17%26%37%29%34%31%32%103%58%129%189%126%–

Compounded Profit Growth

10 Years:4%
5 Years:-7%
3 Years:-14%
TTM:34%

Compounded Sales Growth

10 Years:9%
5 Years:9%
3 Years:8%
TTM:8%

Return on Equity

10 Years:18%
5 Years:15%
3 Years:12%
Last Year:14%

Stock Price CAGR

10 Years:12%
5 Years:9%
3 Years:18%
1 Year:-3%

Balance Sheet

Standalone figures in ₹ crores

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
234480484487490492483484486487488490490
Reserves
8,35710,77614,50716,40319,04520,15621,79024,53225,72424,71722,61321,93121,128
Borrowings
3095228262255134815196175795069821,031
Other Liabilities
5,8405,7555,6766,5807,0419,6827,5687,8408,73310,25211,08412,77813,558
Total Liabilities
14,73917,01620,89423,73326,83030,34230,32233,37535,55936,03534,69236,18136,206
Fixed Assets
1,8341,9812,1222,4983,2302,7863,3363,0483,6303,6413,6593,8783,841
Gross Block
4,2464,8535,4586,3797,6697,4968,6438,4529,97910,65411,34511,693–
Accumulated Depreciation
2,4132,8723,3363,8804,4384,7115,3075,4046,3507,0127,6877,815–
CWIP
2645516283622352723511113648941817
Investments
2,2944,0884,9767,71610,25812,96110,64916,55214,53213,32012,51712,42712,358
Other Assets
10,34810,39713,16813,15613,10614,32416,30213,66317,26219,02618,42219,85919,990
Total Assets
14,73917,01620,89423,73326,83030,34230,32233,37535,55936,03534,69236,18136,206

Cash Flows

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity
1,2942,1082,8763,3323,2733,6342,3806,8523,2134,1025,1234,293
Cash from Investing Activity
352-1,637-1,082-2,590-2,146-1,5293,306-5,6021,576734-41513
Cash from Financing Activity
-917-770-792-1,479-1,210-2,036-4,842-2,066-4,607-4,992-4,747-4,659
Net Cash Flow
729-2991,002-736-8269844-816181-156334146

Ratios

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days
8881907279807889101898281
Inventory Days
––––––––––––
Days Payable
––––––––––––
Cash Conversion Cycle
8881907279807889101898281
Working Capital Days
465769696134714960453424
ROCE %
44%29%30%24%26%27%25%23%25%19%11%18%

Shareholding Pattern

Numbers in percentages

Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Promoters
35.19%35.17%35.15%35.13%35.10%35.08%35.04%35.02%35.01%35.00%34.99%34.98%
FIIs
27.95%26.87%25.69%26.22%24.58%24.15%23.27%23.67%24.19%22.95%23.28%20.60%
DIIs
23.73%25.68%26.86%27.03%28.91%29.42%30.66%30.90%30.73%32.13%32.13%34.64%
Public
12.93%12.07%12.11%11.44%11.22%11.16%10.84%10.23%9.88%9.74%9.43%9.61%

* The classifications might have changed from Sep'2022 onwards.ℹ️

BSE Announcements AI Summary

Direct from BSE filings, auto-summarised

Tech Mahindra Approves Merger of Step-Down Subsidiaries in Costa Rica, Effective April 1, 2026

1st April 2026, 7:16 pm

Tech Mahindra Board Meeting Set for April 21-22 to Approve Q4 and FY26 Financial Results

31st March 2026, 8:43 pm

Tech Mahindra Board Meeting on April 21-22, 2026, to Approve FY26 Audited Results; Trading Window Closes

31st March 2026, 8:44 pm

Tech Mahindra Approves Allotment of 61,561 Equity Shares on ESOP Exercise

17th March 2026, 4:26 pm

Tech Mahindra Denies Market Rumour of Headcount Reduction

9th March 2026, 1:54 pm

Published by Other Websites

External media mentions & references

Indian Markets Rebound Amidst Geopolitical Fear, Extend Losing Streak

2nd April 2026, 7:50 pm

Rupee Surge Fuels Indian Market Recovery; Nifty Tops 22,700

2nd April 2026, 4:37 pm

Bulls Roar Back: Nifty Tops 22,700, Sensex Surges 1,500 Points on Rebound

2nd April 2026, 4:05 pm

Motilal Oswal Picks 4 Resilient IT Stocks Amid Subdued Growth Fears

2nd April 2026, 9:08 am

Motilal Oswal Picks IT Stocks for Q4 Rally, Eyes 54% Upside

1st April 2026, 9:59 am

News Articles

Editorial & research coverage

IT Stocks Dive Amid AI Fears; Axis Securities Defends Select Names
IT Stocks Dive Amid AI Fears; Axis Securities Defends Select Names

14th February 2026, 8:08 am

AI Fears Spark IT Sell-off; Banking & Auto Sector Gains
AI Fears Spark IT Sell-off; Banking & Auto Sector Gains

13th February 2026, 8:44 pm

Indian Markets: Macro Headwinds Overshadow Strong Results
Indian Markets: Macro Headwinds Overshadow Strong Results

13th February 2026, 2:54 pm

AI Fears Overshadow IT Value: JPMorgan Sees 'Plumbers' Set for Comeback
AI Fears Overshadow IT Value: JPMorgan Sees 'Plumbers' Set for Comeback

13th February 2026, 2:18 pm

Indian IT Stocks Tumble Amid AI Disruption Fears
Indian IT Stocks Tumble Amid AI Disruption Fears

13th February 2026, 12:52 pm

Documents

Announcements

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

1d - Of Schedule of Quarterly Earnings Conference Call and Press Release under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('SEBI Listing …

Closure of Trading Window
Board Meeting Intimation for Prior Intimation Of Board Meeting

31 Dec - Board meeting 15-16 Jan 2026; Audited Q3/9M results to be declared 16 Jan; trading window closed 25 Dec–18 Jan.

Announcement under Regulation 30 (LODR)-Restructuring

26 Dec - MEI ceased as wholly-owned subsidiary; 16,50,000 shares allotted to MKT for Rs.1,65,00,000 on 26-Dec-2025.

Announcement under Regulation 30 (LODR)-Restructuring

22 Dec - Yabx Uganda incorporated 22 Dec 2025 as Tech Mahindra step-down subsidiary; share capital UGX 1,700,000 (17,000 shares).

Annual Reports

Financial Year 2025

(from bse)

Financial Year 2024

(from bse)

Financial Year 2023

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Financial Year 2022

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Financial Year 2022

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Financial Year 2021

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Financial Year 2020

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Financial Year 2019

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Financial Year 2018

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Financial Year 2017

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Financial Year 2016

(from bse)

Financial Year 2015

(from bse)

Financial Year 2014

(from bse)

Financial Year 2013

(from nse)

Financial Year 2013

(from bse)

Credit Ratings

Rating update

29 Sep 2025 from care

Rating update

12 Sep 2024 from care

Rating update

27 Sep 2023 from care

Rating update

15 Sep 2022 from care

Rating update

7 Jul 2020 from care

Rating update

7 Jul 2020 from care

Concalls

Nov 2025

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Stock Analysis

Corporate Announcements

1st Apr 26
Impact Rating: 6
Tech Mahindra's Board has greenlit a plan to merge two wholly-owned step-down subsidiaries in Costa Rica. The move, effective April 1, 2026, aims to streamline operations and cut costs.
31st Mar 26
Impact Rating: 4
Tech Mahindra announced a Board Meeting on April 21-22, 2026, to approve audited standalone and consolidated financial results for Q4 and fiscal year ended March 31, 2026. Results will be declared on April 22.
31st Mar 26
Impact Rating: 6
Tech Mahindra's Board will meet on April 21-22, 2026, to approve the audited financial results for Q4 and the full fiscal year ended March 31, 2026. Results to be declared on April 22.
17th Mar 26
Impact Rating: 7
Tech Mahindra's Securities Allotment Committee approved allotting 61,561 equity shares at ₹5 per share on March 17, 2026, following employee stock option exercises. This increases total shares to 97.98 crore and share capital to ₹489.92 cr.
9th Mar 26
Impact Rating: 7
Tech Mahindra Ltd. has officially denied market rumours circulating on social media concerning a potential significant reduction in headcount. The company has clarified to stock exchanges that no such proposal is under consideration.