Mphasis Ltd.

•

mphasis.comBSE: 526299NSE: MPHASIS

Market Cap₹ 43,791 Cr.

Current Price

High / Low₹ 3,037 / 2,013

Stock P/E22.9

Book Value₹ 578

Price to Book3.72

Dividend Yield2.70 %

ROCE23.3 %

ROE18.7 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Banking And Capital Market: 52.8% • Information Technology, Communication and Entertainment: 18.1% • Insurance: 14.8%

AI Sector View

AI GENERATED

Information Technology

Buy

IT is supported by a still-expanding services backdrop and a weaker rupee. Export of services grew 13.0% YoY (2026-06), services PMI was 54.1 (Aug/26), and the currency at 95.23 (Sep/26) is depreciated versus the previous 95.16, which helps INR translation of export revenues. FPI positioning is only neutral-to-soft with net 3-month flow of INR -5 crore to 2026-08-31, so the positive stance is primarily macro-driven.

Confidence

68%

View full sector analysis →

PROS

Company has a healthy return on capital (ROCE) of 23.5%
Company has consistently been profitable over the last 5 years
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.04x)
Company has been maintaining a healthy dividend payout of 63.5%
Company has a consistent dividend-paying track record
Institutional investors have been accumulating - FII+DII up 9.4pp

CONS

Receivables are growing faster than sales - a possible quality concern
Promoter holding has decreased over last 2 years: -9.8pp
Total debt has risen sharply - up 60.7% year on year
Company has delivered a poor profit growth of 8.9% over past five years
Expensive relative to growth - PEG of 5.2

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Information TechnologyITIT - Software

Part ofNIFTY IT NIFTY DIV OPPS 50 NIFTYLARGEMIDCAP250 NIFTYMIDCAP150 NIFTY MIDCAP 100

S.No.	Name
1.	TCS	2202.00	16.00	796702.87	5.00	13420.00	4.69	72275.00	13.93	66.25	25.67
2.	INFY	1038.20	13.91	421325.69	4.62	7775.00	12.29	48211.00	14.03	42.84	23.66
3.	HCLTECH	1207.00	18.80	327539.38	4.47	4626.00	20.34	34579.00	13.94	31.20	19.87
4.	WIPRO	167.50	12.55	165902.38	6.57	3356.30	0.59	24478.60	10.59	18.49	18.93
5.	TECHM	1539.50	29.38	150891.59	3.31	1486.30	31.67	15711.90	17.68	23.04	17.43
6.	LTM	4301.15	24.39	127581.28	1.74	1468.60	17.06	11608.00	17.96	30.25	17.75
7.	OFSS	11760.00	30.01	102409.76	3.40	1415.50	120.52	3125.20	68.73	45.50	60.04
8.	PERSISTENT	5537.45	45.42	87353.27	0.72	483.04	13.67	4303.23	29.09	35.09	16.19
9.	COFORGE	1847.40	46.58	81835.77	0.86	531.70	49.19	5527.70	49.86	24.70	19.14
10.	MPHASIS	2294.10	22.92	43790.98	2.70	489.51	10.82	4384.05	17.46	23.31	18.15
11.	LTTS	3334.95	26.80	35379.24	1.74	357.10	12.97	2940.10	11.47	27.70	18.65
12.	TATATECH	761.75	55.53	30931.00	1.54	180.75	6.15	1664.63	33.78	19.56	16.64

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	3,252	3,276	3,338	3,412	3,422	3,536	3,561	3,710	3,732	3,902	4,003	4,243	4,384
	2,665	2,681	2,737	2,773	2,804	2,888	2,883	3,007	3,030	3,178	3,251	3,437	3,784
Operating Profit	587	596	601	639	619	648	678	703	703	724	752	805	600
OPM %	18.05%	18.18%	17.99%	18.72%	18.07%	18.32%	19.04%	18.94%	18.83%	18.54%	18.78%	18.98%	13.68%
	50	49	54	64	74	59	63	60	81	75	27	108	83
Interest	24	34	53	50	50	40	39	36	42	44	41	77	49
Depreciation	87	89	103	131	105	104	132	135	132	128	143	153	147
Profit before Tax	526	522	499	522	537	563	569	591	610	627	595	683	683
Tax %	24.67%	24.86%	25.07%	24.72%	24.72%	24.75%	24.83%	24.46%	27.60%	24.84%	25.38%	25.13%	28.31%
Net Profit	0	0	0	0	405	423	428	446	442	469	442	510	490
	21.01	20.79	19.80	20.82	21.40	22.38	22.58	23.51	23.22	24.65	23.22	26.73	25.65

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	6,076	6,546	7,731	8,844	9,722	11,961	13,798	13,279	14,230	15,880	16,531
	5,109	5,487	6,407	7,193	7,919	9,844	11,365	11,020	11,583	12,914	13,651
Operating Profit	968	1,059	1,324	1,650	1,803	2,118	2,434	2,259	2,647	2,966	2,880
OPM %	15.92%	16.18%	17.12%	18.66%	18.54%	17.70%	17.64%	17.01%	18.60%	18.68%	17.42%
	225	152	177	178	133	160	162	381	255	308	292
Interest	14	13	17	81	63	74	97	161	166	204	211
Depreciation	79	71	76	232	242	291	325	410	476	555	570
Profit before Tax	1,099	1,128	1,407	1,515	1,631	1,913	2,173	2,068	2,260	2,509	2,587
Tax %	27.99%	25.73%	23.73%	21.81%	25.38%	25.20%	24.63%	24.83%	24.69%	25.77%	25.96%
Net Profit	792	837	1,073	1,185	1,217	1,431	1,638	1,555	1,702	1,863	1,916
EPS	37.63	43.26	55.50	63.52	64.43	75.61	86.37	82.27	89.55	97.61	—
Dividend Payout %	45.19%	46.15%	46.84%	55.10%	99.92%	60.38%	57.51%	66.86%	63.65%	63.52%	—

COMPOUNDED SALES GROWTH

10 Years:: 10%
5 Years:: 10%
3 Years:: 5%

COMPOUNDED PROFIT GROWTH

10 Years:: 11%
5 Years:: 9%
3 Years:: 4%

STOCK PRICE CAGR

10 Years:: 16%
5 Years:: -5%
3 Years:: -2%
1 Year:: -22%

RETURN ON EQUITY

10 Years:: 19%
5 Years:: 20%
3 Years:: 19%
Last Year:: 19%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	210	193	186	187	187	188	188	189	190	191
	5,923	5,257	5,014	5,585	6,281	6,644	7,543	8,352	9,204	10,358
	266	398	559	1,219	1,111	1,217	913	2,461	1,730	2,563
Trade Payables	388	502	785	667	596	850	864	798	978	1,357
	468	529	745	881	1,098	1,696	1,859	2,044	2,479	2,879
Total Liabilities	7,255	6,880	7,290	8,538	9,273	10,595	11,367	13,845	14,582	17,347
	1,921	1,884	2,170	3,013	3,020	3,774	4,060	5,533	5,781	6,435
Capital Work in Progress	1	2	2	7	3	11	5	14	0	0
	2,396	1,782	1,329	1,326	1,846	1,813	1,753	3,090	2,208	1,769
	0	0	0	835	0	0	0	2,426	2,841	4,193
Cash & Bank	614	707	642	1,126	1,062	949	1,053	814	1,613	1,753
	2,323	2,505	3,148	2,230	3,342	4,047	4,496	1,968	2,139	3,197
Total Assets	7,255	6,880	7,290	8,538	9,273	10,595	11,367	13,845	14,582	17,347

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	956	1,002	1,292	1,717	1,799	2,084	2,054	2,180	1,905	1,253
Cash from Investing	268	493	289	141	-822	-282	182	-2,482	44	-211
Cash from Financing	-710	-1,380	-1,342	-825	-861	-1,389	-1,440	77	-1,756	-943
	222	-164	-103	637	-229	45	204	-225	194	99

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	40.35	40.32	40.23	40.14	40.10	40.10	30.59	30.55	30.54
	18.32	18.25	20.78	20.61	18.99	18.52	19.79	19.51	19.50
	35.58	36.64	34.21	34.67	36.27	37.07	45.01	45.41	45.13
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	5.50	4.57	4.55	4.35	4.40	4.32	4.37	4.29	4.65

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-11

Press Release

2026-09-11 - MphasiS Limited has informed the Exchange regarding a press release dated September 11, 2026, titled "SGBS Unnati Foundation and Mphasis join hands for a greener Bengaluru".

2026-09-07

ESOP/ESOS/ESPS

2026-09-07 - MphasiS Limited has informed the Exchange regarding Grant of 123540 Options.

2026-09-07

ESOP/ESOS/ESPS

2026-09-07 - MphasiS Limited has informed the Exchange regarding Allotment of 7800 Shares.

2026-09-03

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-03 - MphasiS Limited has informed the Exchange about Schedule of meet

2026-09-03

General Updates

2026-09-03 - MphasiS Limited has informed the Exchange about Intimation of ESG rating by NSE Sustainability Ratings and Analytics Limited

2026-09-02

Press Release

2026-09-02 - MphasiS Limited has informed the Exchange regarding a press release dated September 02, 2026, titled "Mphasis and TechnoPro Holdings Sign Strategic agreement to Accelerate AI-led Enterprise Transformation in Japan

2026-08-21

ESOP/ESOS/ESPS

2026-08-21 - MphasiS Limited has informed the Exchange regarding Grant of 507460 Options.

2026-08-21

ESOP/ESOS/ESPS

2026-08-21 - MphasiS Limited has informed the Exchange regarding Allotment of 700 Shares.

2026-08-19

Copy of Newspaper Publication

2026-08-19 - MphasiS Limited has informed the Exchange about Copy of Newspaper Publication

News

Recent coverage and analyst commentary for MPHASIS

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