Tata Technologies Ltd.
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ABOUT
AI Sector View
AI GENERATEDInformation Technology
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.
PROS
- Company has delivered good profit growth of 39.4% CAGR over last 5 years
- Company is almost debt free
- Company has a healthy return on capital (ROCE) of 62.8%
- Company has a good return on equity (ROE) track record: 3 Years ROE 51.8%
- Company has delivered good sales growth of 24.4% CAGR over last 5 years
CONS
- Recent results are weak - TTM profit is down 39.4% versus prior year
- A large part of profit comes from other income (44.8% of PBT)
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.54x)
- Stock is trading at 11.8x its book value
- Valuation is stretched - P/E of 58.5 is well above its own 5-year median (36.3)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| TCS | 2216.50 | 16.10 | 801949.10 | 4.96 | 13420.00 | 4.69 | 72275.00 | 13.93 | 66.25 | 25.67 |
| INFY | 1031.55 | 13.82 | 418626.97 | 4.65 | 7775.00 | 12.29 | 48211.00 | 14.03 | 42.84 | 23.66 |
| HCLTECH | 1196.80 | 18.64 | 324771.44 | 4.51 | 4626.00 | 20.34 | 34579.00 | 13.94 | 31.20 | 19.87 |
| WIPRO | 166.15 | 12.45 | 164565.26 | 6.62 | 3356.30 | 0.59 | 24478.60 | 10.59 | 18.49 | 18.93 |
| TECHM | 1518.60 | 28.98 | 148843.11 | 3.36 | 1486.30 | 31.67 | 15711.90 | 17.68 | 23.04 | 17.43 |
| LTM | 4350.00 | 24.67 | 129030.27 | 1.72 | 1468.60 | 17.06 | 11608.00 | 17.96 | 30.25 | 17.75 |
| OFSS | 11696.00 | 29.84 | 101852.43 | 3.42 | 1415.50 | 120.52 | 3125.20 | 68.73 | 45.50 | 60.04 |
| PERSISTENT | 5500.00 | 45.11 | 86762.50 | 0.73 | 483.04 | 13.67 | 4303.23 | 29.09 | 35.09 | 16.19 |
| COFORGE | 1843.00 | 46.47 | 81640.86 | 0.86 | 531.70 | 49.19 | 5527.70 | 49.86 | 24.70 | 19.14 |
| MPHASIS | 2290.00 | 22.88 | 43712.72 | 2.71 | 489.51 | 10.82 | 4384.05 | 17.46 | 23.31 | 18.15 |
| LTTS | 3377.30 | 27.14 | 35828.52 | 1.72 | 357.10 | 12.97 | 2940.10 | 11.47 | 27.70 | 18.65 |
| TATATECH | 778.20 | 56.72 | 31598.95 | 1.50 | 180.75 | 6.15 | 1664.63 | 33.78 | 19.56 | 16.64 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 647 | 673 | 696 | 716 | 721 | 794 | 748 | 762 | 741 | 796 | 759 | 830 | 882 | |
| 529 | 566 | 564 | 581 | 591 | 621 | 602 | 594 | 599 | 637 | 627 | 687 | 735 | |
| Operating Profit | 118 | 108 | 132 | 135 | 130 | 173 | 147 | 167 | 142 | 160 | 131 | 143 | 147 |
| OPM % | 18.20% | 15.97% | 18.96% | 18.87% | 17.98% | 21.78% | 19.60% | 21.98% | 19.12% | 20.03% | 17.31% | 17.19% | 16.66% |
| 10 | 369 | 16 | 9 | 404 | 15 | 16 | 50 | 207 | 42 | -110 | 90 | 148 | |
| Interest | 3 | 3 | 3 | 3 | 3 | 3 | 4 | 3 | 3 | 3 | 3 | 3 | 3 |
| Depreciation | 15 | 16 | 17 | 18 | 19 | 19 | 20 | 21 | 21 | 21 | 21 | 20 | 20 |
| Profit before Tax | 110 | 458 | 128 | 123 | 512 | 166 | 139 | 193 | 324 | 178 | -3 | 209 | 295 |
| Tax % | 27.53% | 5.28% | 26.66% | 35.17% | 6.29% | 26.51% | 25.74% | 25.40% | 13.84% | 25.30% | 46.81% | 24.01% | 15.46% |
| Net Profit | 80 | 434 | 94 | 80 | 480 | 122 | 103 | 144 | 280 | 133 | -2 | 159 | 249 |
| 1.97 | 10.69 | 2.32 | 1.97 | 11.83 | 3.01 | 2.54 | 3.55 | 6.88 | 3.28 | -0.04 | 3.92 | 6.13 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,112 | 1,125 | 1,217 | 1,245 | 1,051 | 1,731 | 2,112 | 2,732 | 3,024 | 3,126 | 3,267 | |
| 812 | 865 | 916 | 941 | 860 | 1,421 | 1,750 | 2,240 | 2,410 | 2,555 | 2,686 | |
| Operating Profit | 300 | 260 | 302 | 303 | 191 | 310 | 362 | 492 | 614 | 570 | 580 |
| OPM % | 27.01% | 23.15% | 24.79% | 24.36% | 18.19% | 17.88% | 17.15% | 18.02% | 20.31% | 18.25% | 17.77% |
| 16 | 27 | 13 | 149 | 20 | 38 | 43 | 405 | 488 | 234 | 170 | |
| Interest | 1 | 2 | 0 | 9 | 11 | 14 | 12 | 12 | 13 | 13 | 13 |
| Depreciation | 51 | 50 | 49 | 60 | 54 | 50 | 61 | 66 | 79 | 82 | 81 |
| Profit before Tax | 264 | 235 | 266 | 384 | 147 | 283 | 332 | 819 | 1,010 | 709 | 680 |
| Tax % | 19.12% | 24.46% | 28.15% | 23.90% | 26.21% | 22.73% | 26.53% | 16.11% | 15.94% | 19.59% | 20.55% |
| Net Profit | 213 | 177 | 191 | 292 | 108 | 219 | 244 | 687 | 849 | 570 | 540 |
| EPS | 49.58 | 42.15 | 45.41 | 67.93 | 25.89 | 5.39 | 6.01 | 16.95 | 20.93 | 14.05 | — |
| Dividend Payout % | 80.64% | 72.76% | 33.78% | 57.29% | 0.00% | 0.00% | 204.46% | 59.31% | 55.89% | 83.28% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 11%
- 5 Years:
- 24%
- 3 Years:
- 14%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 10%
- 5 Years:
- 39%
- 3 Years:
- 33%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- 9%
RETURN ON EQUITY
- 10 Years:
- 34%
- 5 Years:
- 42%
- 3 Years:
- 52%
- Last Year:
- 34%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 43 | 43 | 43 | 42 | 42 | 42 | 81 | 81 | 81 | 81 |
| 709 | 678 | 716 | 719 | 829 | 742 | 937 | 1,119 | 1,561 | 1,673 | |
| 100 | 1 | 0 | 76 | 76 | 78 | 69 | 60 | 238 | 194 | |
| Trade Payables | 125 | 127 | 122 | 82 | 77 | 126 | 382 | 246 | 292 | 358 |
| 49 | 82 | 72 | 80 | 853 | 1,073 | 1,074 | 1,382 | 1,961 | 2,805 | |
| Total Liabilities | 1,026 | 931 | 953 | 999 | 1,878 | 2,062 | 2,543 | 2,888 | 4,133 | 5,111 |
| 136 | 121 | 97 | 191 | 160 | 184 | 178 | 209 | 180 | 150 | |
| Capital Work in Progress | 3 | 0 | 4 | 0 | 0 | 0 | 3 | 0 | 0 | 0 |
| 439 | 256 | 258 | 255 | 716 | 747 | 249 | 369 | 831 | 1,017 | |
| 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 456 | 585 | 560 | |
| Cash & Bank | 99 | 24 | 16 | 68 | 245 | 15 | 70 | 130 | 144 | 30 |
| 348 | 529 | 578 | 485 | 757 | 1,116 | 2,044 | 1,723 | 2,393 | 3,355 | |
| Total Assets | 1,026 | 931 | 953 | 999 | 1,878 | 2,062 | 2,543 | 2,888 | 4,133 | 5,111 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 268 | 191 | 248 | 295 | 946 | -293 | 440 | 87 | 317 | 726 | |
| Cash from Investing | -33 | 79 | -19 | 150 | -681 | 161 | 27 | 431 | 155 | -285 |
| Cash from Financing | -180 | -310 | -153 | -311 | -21 | -19 | -318 | -524 | -450 | -505 |
| 15 | -78 | -10 | 56 | 180 | -228 | 56 | -6 | 22 | -64 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-11 - Tata Technologies Limited has informed the Exchange about Outcome of Investor Conference
2026-09-09 - Tata Technologies Limited has informed the Exchange about Outcome of Investor Meeting held today on September 9, 2026
2026-09-08 - Tata Technologies Limited has informed the Exchange about Schedule of meet
2026-09-07 - Tata Technologies Limited has informed the Exchange about Schedule of meet
2026-09-04 - Tata Technologies Limited has informed the Exchange about Schedule of meet
2026-08-13 - Tata Technologies Limited has informed the Exchange about Outcome of Investor Conference
2026-08-08 - Tata Technologies Limited has informed the Exchange about Schedule of meet
2026-08-07 - Tata Technologies Limited has informed the Exchange about Rumour Verification - Regulation 30(11)
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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Tata Technologies Ltd.
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