Tata Technologies Ltd.

•

tatatechnologies.comBSE: 544028NSE: TATATECH

Market Cap₹ 30,931 Cr.

Current Price

High / Low₹ 891 / 507

Stock P/E55.5

Book Value₹ 101

Price to Book5.29

Dividend Yield1.54 %

ROCE19.6 %

ROE14.6 %

Face Value₹ 2

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Service: 77.3% • Technology Solutions: 22.7%

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 26.0%
Company has consistently been profitable over the last 5 years
Company has delivered good sales growth of 18.3% CAGR over last 5 years
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 0.93x)
Company comfortably covers its interest (23.4x coverage)
Company generates healthy free cash flow

CONS

Recent results are weak - TTM profit is down 14.1% versus prior year
Operating margins have contracted to 15.2% from 20.6%
Stock is trading at 5.3x its book value
Growth is decelerating - 3Y profit CAGR (-4.3%) trails the 5Y trend (18.0%)

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

Peer comparison

Information TechnologyITIT - Software

Part ofNIFTY TOTAL MKT NIFTY SMLCAP 50 NIFTY 500 NIFTY SMLCAP 250

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
	1,258	1,269	1,289	1,301	1,269	1,296	1,317	1,286	1,244	1,323	1,366	1,572	1,665
	1,007	1,055	1,053	1,061	1,038	1,061	1,083	1,052	1,044	1,116	1,173	1,320	1,459
Operating Profit	250	214	237	240	231	236	234	233	200	208	193	252	205
OPM %	19.92%	16.88%	18.35%	18.44%	18.21%	18.17%	17.76%	18.16%	16.08%	15.70%	14.12%	16.04%	12.33%
	31	30	31	24	23	16	28	57	64	48	-132	87	37
Interest	5	5	5	4	5	5	6	5	5	5	9	16	15
Depreciation	24	26	27	29	30	30	30	31	31	31	36	47	47
Profit before Tax	253	213	235	231	220	217	226	255	228	221	16	277	252
Tax %	24.29%	24.80%	27.57%	31.87%	26.23%	27.62%	25.50%	27.20%	27.34%	27.37%	104.01%	28.61%	28.19%
Net Profit	0	0	0	0	162	157	169	189	170	166	66	204	181
	4.72	3.95	4.20	3.88	3.99	3.88	4.16	4.66	4.19	4.08	0.16	5.03	4.45

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
	2,802	2,691	2,942	2,852	2,381	3,530	4,414	5,117	5,168	5,506	5,926
	2,312	2,359	2,439	2,382	2,002	2,891	3,607	4,176	4,237	4,667	5,068
Operating Profit	490	333	503	470	379	638	807	941	932	838	858
OPM %	17.48%	12.36%	17.09%	16.50%	15.91%	18.09%	18.28%	18.39%	18.03%	15.23%	14.48%
	29	80	38	36	46	56	102	116	126	81	40
Interest	4	5	1	16	18	22	18	19	20	34	45
Depreciation	63	71	69	99	92	86	95	106	121	145	160
Profit before Tax	450	337	471	392	315	587	796	932	921	765	765
Tax %	22.03%	26.96%	25.13%	35.82%	24.14%	25.54%	21.62%	27.11%	26.53%	28.52%	29.66%
Net Profit	351	246	353	252	239	437	624	679	677	547	538
EPS	83.33	58.37	83.76	6.20	5.89	10.77	15.37	16.75	16.69	13.46	—
Dividend Payout %	47.98%	51.38%	17.91%	66.47%	0.00%	0.00%	79.96%	60.01%	70.11%	86.91%	—

COMPOUNDED SALES GROWTH

10 Years:: 7%
5 Years:: 18%
3 Years:: 8%

COMPOUNDED PROFIT GROWTH

10 Years:: 4%
5 Years:: 18%
3 Years:: -4%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: 9%

RETURN ON EQUITY

10 Years:: 19%
5 Years:: 20%
3 Years:: 19%
Last Year:: 15%

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	42	42	42	42	42	42	81	81	81	81
	1,379	1,508	1,715	1,811	2,100	2,238	2,907	3,134	3,484	3,829
	153	85	16	245	233	224	215	206	369	1,161
Trade Payables	284	317	295	243	224	337	658	481	477	581
	240	239	170	200	931	1,320	1,189	1,422	1,912	2,856
Total Liabilities	2,098	2,190	2,238	2,541	3,530	4,161	5,049	5,325	6,323	8,509
	763	853	819	1,119	1,090	1,068	1,095	1,151	1,130	2,055
Capital Work in Progress	3	0	4	0	0	0	3	0	0	1
	220	37	39	36	497	528	30	150	616	823
	0	1	0	0	0	0	0	0	0	0
	0	0	0	0	0	0	0	1,148	1,006	1,187
Cash & Bank	306	257	384	389	783	869	999	913	903	715
	806	1,043	992	997	1,159	1,695	2,922	1,963	2,669	3,728
Total Assets	2,098	2,190	2,238	2,541	3,530	4,161	5,049	5,325	6,323	8,509

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
	294	341	547	400	1,223	89	644	294	699	776
Cash from Investing	-36	111	-22	-8	-674	74	-487	394	-89	-871
Cash from Financing	-331	-374	-221	-261	-44	-44	-347	-557	-486	16
	-169	8	126	-1	395	-9	-433	131	124	-80

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
	55.39	55.22	55.22	55.22	55.22	55.22	55.21	55.18	55.17
	1.63	3.62	3.10	3.10	4.87	5.25	5.51	5.77	6.30
	1.78	3.44	2.93	2.33	3.18	2.75	2.79	3.31	4.35
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	41.20	37.72	38.75	39.35	36.73	36.79	36.47	35.73	34.18

Documents

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

2026-09-11

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-11 - Tata Technologies Limited has informed the Exchange about Outcome of Investor Conference

2026-09-09

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-09 - Tata Technologies Limited has informed the Exchange about Outcome of Investor Meeting held today on September 9, 2026

2026-09-08

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-08 - Tata Technologies Limited has informed the Exchange about Schedule of meet

2026-09-07

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-07 - Tata Technologies Limited has informed the Exchange about Schedule of meet

2026-09-04

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-04 - Tata Technologies Limited has informed the Exchange about Schedule of meet

2026-08-13

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-13 - Tata Technologies Limited has informed the Exchange about Outcome of Investor Conference

2026-08-08

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-08 - Tata Technologies Limited has informed the Exchange about Schedule of meet

2026-08-07

Rumour Verification - Regulation 30(11)

2026-08-07 - Tata Technologies Limited has informed the Exchange about Rumour Verification - Regulation 30(11)

2026-08-07

News Verification

2026-08-07 - The Exchange has sought clarification from Tata Technologies Limited with respect to recent news item captioned Tata Tech shares rise 7% as report says Honda outsourced new vehicle programme to company to cut costs. The response from the Company is attached.

News

Recent coverage and analyst commentary for TATATECH

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AI Stock Analyst

Tata Technologies Ltd.

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Free 5nance Account

Name

TCS

2202.00

16.00

796702.87

5.00

13420.00

4.69

72275.00

13.93

66.25

25.67

INFY

1038.20

13.91

421325.69

4.62

7775.00

12.29

48211.00

14.03

42.84

23.66

HCLTECH

1207.00

18.80

327539.38

4.47

4626.00

20.34

34579.00

13.94

31.20

19.87

WIPRO

167.50

12.55

165902.38

6.57

3356.30

0.59

24478.60

10.59

18.49

18.93

TECHM

1539.50

29.38

150891.59

3.31

1486.30

31.67

15711.90

17.68

23.04

17.43

LTM

4301.15

24.39

127581.28

1.74

1468.60

17.06

11608.00

17.96

30.25

17.75

OFSS

11760.00

30.01

102409.76

3.40

1415.50

120.52

3125.20

68.73

45.50

60.04

PERSISTENT

5537.45

45.42

87353.27

0.72

483.04

13.67

4303.23

29.09

35.09

16.19

COFORGE

1847.40

46.58

81835.77

0.86

531.70

49.19

5527.70

49.86

24.70

19.14

MPHASIS

2294.10

22.92

43790.98

2.70

489.51

10.82

4384.05

17.46

23.31

18.15

LTTS

3334.95

26.80

35379.24

1.74

357.10

12.97

2940.10

11.47

27.70

18.65

TATATECH

761.75

55.53

30931.00

1.54

180.75

6.15

1664.63

33.78

19.56

16.64

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

1,258

1,269

1,289

1,301

1,269

1,296

1,317

1,286

1,244

1,323

1,366

1,572

1,665

1,007

1,055

1,053

1,061

1,038

1,061

1,083

1,052

1,044

1,116

1,173

1,320

1,459

Operating Profit

250

214

237

240

231

236

234

233

200

208

193

252

205

OPM %

19.92%

16.88%

18.35%

18.44%

18.21%

18.17%

17.76%

18.16%

16.08%

15.70%

14.12%

16.04%

12.33%

-132

Interest

Depreciation

Profit before Tax

253

213

235

231

220

217

226

255

228

221

277

252

Tax %

24.29%

24.80%

27.57%

31.87%

26.23%

27.62%

25.50%

27.20%

27.34%

27.37%

104.01%

28.61%

28.19%

Net Profit

162

157

169

189

170

166

204

181

4.72

3.95

4.20

3.88

3.99

3.88

4.16

4.66

4.19

4.08

0.16

5.03

4.45

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

2,802

2,691

2,942

2,852

2,381

3,530

4,414

5,117

5,168

5,506

5,926

2,312

2,359

2,439

2,382

2,002

2,891

3,607

4,176

4,237

4,667

5,068

Operating Profit

490

333

503

470

379

638

807

941

932

838

858

OPM %

17.48%

12.36%

17.09%

16.50%

15.91%

18.09%

18.28%

18.39%

18.03%

15.23%

14.48%

102

116

126

Interest

Depreciation

106

121

145

160

Profit before Tax

450

337

471

392

315

587

796

932

921

765

Tax %

22.03%

26.96%

25.13%

35.82%

24.14%

25.54%

21.62%

27.11%

26.53%

28.52%

29.66%

Net Profit

351

246

353

252

239

437

624

679

677

547

538

EPS

83.33

58.37

83.76

6.20

5.89

10.77

15.37

16.75

16.69

13.46

—

Dividend Payout %

47.98%

51.38%

17.91%

66.47%

0.00%

79.96%

60.01%

70.11%

86.91%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

1,379

1,508

1,715

1,811

2,100

2,238

2,907

3,134

3,484

3,829

153

245

233

224

215

206

369

1,161

Trade Payables

284

317

295

243

224

337

658

481

477

581

240

239

170

200

931

1,320

1,189

1,422

1,912

2,856

Total Liabilities

2,098

2,190

2,238

2,541

3,530

4,161

5,049

5,325

6,323

8,509

763

853

819

1,119

1,090

1,068

1,095

1,151

1,130

2,055

Capital Work in Progress

220

497

528

150

616

823

1,148

1,006

1,187

Cash & Bank

306

257

384

389

783

869

999

913

903

715

806

1,043

992

997

1,159

1,695

2,922

1,963

2,669

3,728

Total Assets

2,098

2,190

2,238

2,541

3,530

4,161

5,049

5,325

6,323

8,509

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

294

341

547

400

1,223

644

294

699

776

Cash from Investing

-36

111

-22

-8

-674

-487

394

-89

-871

Cash from Financing

-331

-374

-221

-261

-44

-347

-557

-486

-169

126

-1

395

-9

-433

131

124

-80

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

55.39

55.22

55.21

55.18

55.17

1.63

3.62

3.10

4.87

5.25

5.51

5.77

6.30

1.78

3.44

2.93

2.33

3.18

2.75

2.79

3.31

4.35

Government

0.00

41.20

37.72

38.75

39.35

36.73

36.79

36.47

35.73

34.18

Tata Technologies Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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Tata Technologies Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI