Tech Mahindra Ltd.
•2026-08-21
PROS
- Company is almost debt free
- Company has consistently been profitable over the last 5 years
- Latest quarter profit grew 31.7% YoY, showing strong momentum
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.60x)
- Company has a consistent dividend-paying track record
- Company comfortably covers its interest (20.5x coverage)
CONS
- Company has delivered a poor profit growth of 2.0% over past five years
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
EDIT COLUMNS| S.No. | Name | CMP Rs. | P/E | Mar Cap Rs.Cr. | Div Yld % | NP Qtr Rs.Cr. | Qtr Profit Var % | Sales Qtr Rs.Cr. | Qtr Sales Var % | ROCE % | OPM % |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | TCS | 2287.00 | 16.62 | 827456.62 | 4.81 | 13420.00 | 4.69 | 72275.00 | 13.93 | 66.25 | 25.67 |
| 2. | INFY | 1117.05 | 14.97 | 453305.21 | 4.30 | 7775.00 | 12.29 | 48211.00 | 14.03 | 42.84 | 23.66 |
| 3. | HCLTECH | 1322.50 | 20.60 | 358882.21 | 4.08 | 4626.00 | 20.34 | 34579.00 | 13.94 | 31.20 | 19.87 |
| 4. | WIPRO | 179.50 | 13.45 | 177780.78 | 6.13 | 3356.30 | 0.59 | 24478.60 | 10.59 | 18.49 | 18.93 |
| 5. | TECHM | 1582.20 | 30.20 | 155076.76 | 3.22 | 1486.30 | 31.67 | 15711.90 | 17.68 | 23.04 | 17.43 |
| 6. | LTM | 4535.00 | 25.72 | 134517.77 | 1.65 | 1468.60 | 17.06 | 11608.00 | 17.96 | 30.25 | 17.75 |
| 7. | OFSS | 11720.00 | 29.90 | 102061.42 | 3.41 | 1415.50 | 120.52 | 3125.20 | 68.73 | 45.50 | 60.04 |
| 8. | PERSISTENT | 5510.00 | 45.20 | 86920.25 | 0.73 | 483.04 | 13.67 | 4303.23 | 29.09 | 35.09 | 16.19 |
| 9. | COFORGE | 1815.00 | 45.76 | 80390.07 | 0.87 | 531.70 | 49.19 | 5527.70 | 49.86 | 24.70 | 19.14 |
| 10. | MPHASIS | 2420.00 | 24.18 | 46192.17 | 2.56 | 489.51 | 10.82 | 4384.05 | 17.46 | 23.31 | 18.15 |
| 11. | LTTS | 3538.70 | 28.44 | 37537.66 | 1.64 | 357.10 | 12.97 | 2940.10 | 11.47 | 27.70 | 18.65 |
| 12. | HEXT | 552.75 | 25.14 | 33773.91 | 2.08 | 330.20 | -13.04 | 3845.20 | 17.93 | 31.40 | 15.74 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 13,159 | 12,864 | 13,101 | 12,871 | 13,006 | 13,313 | 13,286 | 13,384 | 13,351 | 13,995 | 14,393 | 15,076 | 15,712 | |
| 11,821 | 11,941 | 11,955 | 11,772 | 11,441 | 11,563 | 11,477 | 11,544 | 11,416 | 11,827 | 12,028 | 12,511 | 13,559 | |
| Operating Profit | — | — | — | — | — | — | — | — | — | — | — | — | — |
| OPM % | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Income | 192 | 264 | 88 | 374 | 145 | 522 | 16 | 173 | 218 | 40 | -22 | -205 | -106 |
| Interest | 120 | 98 | 116 | 58 | 72 | 89 | 76 | 85 | 78 | 77 | 94 | 89 | 111 |
| Depreciation | 447 | 466 | 443 | 461 | 462 | 470 | 459 | 462 | 458 | 469 | 474 | 481 | 479 |
| 963 | 624 | 674 | 953 | 1,176 | 1,713 | 1,291 | 1,465 | 1,618 | 1,662 | 1,504 | 1,791 | 2,042 | |
| Tax % | 27.78% | 17.63% | 23.01% | 30.95% | 26.65% | 26.62% | 23.91% | 21.99% | 30.25% | 27.53% | 25.69% | 24.25% | 27.21% |
| Net Profit | 0 | 0 | 0 | 0 | 865 | 1,258 | 989 | 1,142 | 1,129 | 1,202 | 1,119 | 1,356 | 1,486 |
| 8 | 6 | 6 | 7 | 10 | 14 | 11 | 13 | 13 | 13 | 13 | 15 | 2 | |
| Equity Capital | 440 | 441 | 441 | 441 | 442 | 442 | 442 | 442 | 442 | 443 | 443 | 443 | 443 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Equity Capital | 440 | 441 | 441 | 441 | 442 | 442 | 442 | 442 | 442 | 443 | 443 | 443 | 443 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
- 13,159
- 11,821
- Operating Profit
- —
- OPM %
- —
- Other Income
- 192
- Interest
- 120
- Depreciation
- 447
- 963
- Tax %
- 27.78%
- Net Profit
- 0
- 8
- Equity Capital
- 440
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 440
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 12,864
- 11,941
- Operating Profit
- —
- OPM %
- —
- Other Income
- 264
- Interest
- 98
- Depreciation
- 466
- 624
- Tax %
- 17.63%
- Net Profit
- 0
- 6
- Equity Capital
- 441
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 441
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 13,101
- 11,955
- Operating Profit
- —
- OPM %
- —
- Other Income
- 88
- Interest
- 116
- Depreciation
- 443
- 674
- Tax %
- 23.01%
- Net Profit
- 0
- 6
- Equity Capital
- 441
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 441
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 12,871
- 11,772
- Operating Profit
- —
- OPM %
- —
- Other Income
- 374
- Interest
- 58
- Depreciation
- 461
- 953
- Tax %
- 30.95%
- Net Profit
- 0
- 7
- Equity Capital
- 441
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 441
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 13,006
- 11,441
- Operating Profit
- —
- OPM %
- —
- Other Income
- 145
- Interest
- 72
- Depreciation
- 462
- 1,176
- Tax %
- 26.65%
- Net Profit
- 865
- 10
- Equity Capital
- 442
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 442
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 13,313
- 11,563
- Operating Profit
- —
- OPM %
- —
- Other Income
- 522
- Interest
- 89
- Depreciation
- 470
- 1,713
- Tax %
- 26.62%
- Net Profit
- 1,258
- 14
- Equity Capital
- 442
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 442
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 13,286
- 11,477
- Operating Profit
- —
- OPM %
- —
- Other Income
- 16
- Interest
- 76
- Depreciation
- 459
- 1,291
- Tax %
- 23.91%
- Net Profit
- 989
- 11
- Equity Capital
- 442
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 442
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 13,384
- 11,544
- Operating Profit
- —
- OPM %
- —
- Other Income
- 173
- Interest
- 85
- Depreciation
- 462
- 1,465
- Tax %
- 21.99%
- Net Profit
- 1,142
- 13
- Equity Capital
- 442
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 442
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 13,351
- 11,416
- Operating Profit
- —
- OPM %
- —
- Other Income
- 218
- Interest
- 78
- Depreciation
- 458
- 1,618
- Tax %
- 30.25%
- Net Profit
- 1,129
- 13
- Equity Capital
- 442
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 442
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 13,995
- 11,827
- Operating Profit
- —
- OPM %
- —
- Other Income
- 40
- Interest
- 77
- Depreciation
- 469
- 1,662
- Tax %
- 27.53%
- Net Profit
- 1,202
- 13
- Equity Capital
- 443
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 443
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 14,393
- 12,028
- Operating Profit
- —
- OPM %
- —
- Other Income
- -22
- Interest
- 94
- Depreciation
- 474
- 1,504
- Tax %
- 25.69%
- Net Profit
- 1,119
- 13
- Equity Capital
- 443
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 443
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 15,076
- 12,511
- Operating Profit
- —
- OPM %
- —
- Other Income
- -205
- Interest
- 89
- Depreciation
- 481
- 1,791
- Tax %
- 24.25%
- Net Profit
- 1,356
- 15
- Equity Capital
- 443
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 443
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 15,712
- 13,559
- Operating Profit
- —
- OPM %
- —
- Other Income
- -106
- Interest
- 111
- Depreciation
- 479
- 2,042
- Tax %
- 27.21%
- Net Profit
- 1,486
- 2
- Equity Capital
- 443
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 443
- Reserves
- 0
- Promoter Pledge %
- 0.00%
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 29,141 | 30,773 | 34,742 | 36,868 | 37,855 | 44,646 | 53,290 | 51,996 | 52,988 | 56,815 | 59,176 | |
| 25,117 | 26,090 | 28,405 | 31,359 | 31,059 | 36,656 | 45,498 | 47,531 | 46,320 | 48,572 | 49,925 | |
| Operating Profit | 4,962 | 6,126 | 6,871 | 6,701 | 7,583 | 9,132 | 8,757 | 5,423 | 7,819 | 9,066 | — |
| OPM % | 17 | 20 | 20 | 18 | 20 | 20 | 16 | 10 | 15 | 16 | — |
| Other Income | 939 | 1,444 | 534 | 1,192 | 787 | 1,142 | 965 | 959 | 1,151 | 822 | -293 |
| Interest | 129 | 162 | 133 | 192 | 174 | 163 | 326 | 392 | 322 | 337 | 371 |
| Depreciation | 978 | 1,085 | 1,129 | 1,446 | 1,458 | 1,520 | 1,957 | 1,817 | 1,853 | 1,882 | 1,902 |
| 3,853 | 4,879 | 5,543 | 5,058 | 5,953 | 7,452 | 6,446 | 3,224 | 5,653 | 6,573 | 6,999 | |
| Tax % | 26 | 22 | 23 | 23 | 27 | 24 | 25 | 26 | 25 | 27 | 26 |
| Net Profit | 2,851 | 3,786 | 4,289 | 3,897 | 4,353 | 5,630 | 4,857 | 2,397 | 4,253 | 4,806 | 5,165 |
| EPS | 32 | 43 | 48 | 46 | 50 | 63 | 55 | 27 | 48 | 54 | — |
| Dividend Payout % | 28 | 33 | 29 | 32 | 89 | 71 | 91 | 150 | 94 | 94 | — |
| Minority Interest | -38 | 14 | 9 | 136 | 75 | -64 | -26 | -39 | -2 | 5 | 6 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -6 |
| Adjusted EPS | 32 | 43 | 48 | 46 | 51 | 63 | 55 | 27 | 48 | 54 | — |
| Minority Interest | -38 | 14 | 9 | 136 | 75 | -64 | -26 | -39 | -2 | 5 | 6 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -6 |
| Adjusted EPS | 32 | 43 | 48 | 46 | 51 | 63 | 55 | 27 | 48 | 54 | — |
- 29,141
- 25,117
- Operating Profit
- 4,962
- OPM %
- 17
- Other Income
- 939
- Interest
- 129
- Depreciation
- 978
- 3,853
- Tax %
- 26
- Net Profit
- 2,851
- EPS
- 32
- Dividend Payout %
- 28
- Minority Interest
- -38
- Share of Associates
- 0
- Adjusted EPS
- 32
- Minority Interest
- -38
- Share of Associates
- 0
- Adjusted EPS
- 32
- 30,773
- 26,090
- Operating Profit
- 6,126
- OPM %
- 20
- Other Income
- 1,444
- Interest
- 162
- Depreciation
- 1,085
- 4,879
- Tax %
- 22
- Net Profit
- 3,786
- EPS
- 43
- Dividend Payout %
- 33
- Minority Interest
- 14
- Share of Associates
- 0
- Adjusted EPS
- 43
- Minority Interest
- 14
- Share of Associates
- 0
- Adjusted EPS
- 43
- 34,742
- 28,405
- Operating Profit
- 6,871
- OPM %
- 20
- Other Income
- 534
- Interest
- 133
- Depreciation
- 1,129
- 5,543
- Tax %
- 23
- Net Profit
- 4,289
- EPS
- 48
- Dividend Payout %
- 29
- Minority Interest
- 9
- Share of Associates
- 0
- Adjusted EPS
- 48
- Minority Interest
- 9
- Share of Associates
- 0
- Adjusted EPS
- 48
- 36,868
- 31,359
- Operating Profit
- 6,701
- OPM %
- 18
- Other Income
- 1,192
- Interest
- 192
- Depreciation
- 1,446
- 5,058
- Tax %
- 23
- Net Profit
- 3,897
- EPS
- 46
- Dividend Payout %
- 32
- Minority Interest
- 136
- Share of Associates
- 0
- Adjusted EPS
- 46
- Minority Interest
- 136
- Share of Associates
- 0
- Adjusted EPS
- 46
- 37,855
- 31,059
- Operating Profit
- 7,583
- OPM %
- 20
- Other Income
- 787
- Interest
- 174
- Depreciation
- 1,458
- 5,953
- Tax %
- 27
- Net Profit
- 4,353
- EPS
- 50
- Dividend Payout %
- 89
- Minority Interest
- 75
- Share of Associates
- 0
- Adjusted EPS
- 51
- Minority Interest
- 75
- Share of Associates
- 0
- Adjusted EPS
- 51
- 44,646
- 36,656
- Operating Profit
- 9,132
- OPM %
- 20
- Other Income
- 1,142
- Interest
- 163
- Depreciation
- 1,520
- 7,452
- Tax %
- 24
- Net Profit
- 5,630
- EPS
- 63
- Dividend Payout %
- 71
- Minority Interest
- -64
- Share of Associates
- 0
- Adjusted EPS
- 63
- Minority Interest
- -64
- Share of Associates
- 0
- Adjusted EPS
- 63
- 53,290
- 45,498
- Operating Profit
- 8,757
- OPM %
- 16
- Other Income
- 965
- Interest
- 326
- Depreciation
- 1,957
- 6,446
- Tax %
- 25
- Net Profit
- 4,857
- EPS
- 55
- Dividend Payout %
- 91
- Minority Interest
- -26
- Share of Associates
- 0
- Adjusted EPS
- 55
- Minority Interest
- -26
- Share of Associates
- 0
- Adjusted EPS
- 55
- 51,996
- 47,531
- Operating Profit
- 5,423
- OPM %
- 10
- Other Income
- 959
- Interest
- 392
- Depreciation
- 1,817
- 3,224
- Tax %
- 26
- Net Profit
- 2,397
- EPS
- 27
- Dividend Payout %
- 150
- Minority Interest
- -39
- Share of Associates
- 0
- Adjusted EPS
- 27
- Minority Interest
- -39
- Share of Associates
- 0
- Adjusted EPS
- 27
- 52,988
- 46,320
- Operating Profit
- 7,819
- OPM %
- 15
- Other Income
- 1,151
- Interest
- 322
- Depreciation
- 1,853
- 5,653
- Tax %
- 25
- Net Profit
- 4,253
- EPS
- 48
- Dividend Payout %
- 94
- Minority Interest
- -2
- Share of Associates
- 0
- Adjusted EPS
- 48
- Minority Interest
- -2
- Share of Associates
- 0
- Adjusted EPS
- 48
- 56,815
- 48,572
- Operating Profit
- 9,066
- OPM %
- 16
- Other Income
- 822
- Interest
- 337
- Depreciation
- 1,882
- 6,573
- Tax %
- 27
- Net Profit
- 4,806
- EPS
- 54
- Dividend Payout %
- 94
- Minority Interest
- 5
- Share of Associates
- 0
- Adjusted EPS
- 54
- Minority Interest
- 5
- Share of Associates
- 0
- Adjusted EPS
- 54
- 59,176
- 49,925
- Operating Profit
- —
- OPM %
- —
- Other Income
- -293
- Interest
- 371
- Depreciation
- 1,902
- 6,999
- Tax %
- 26
- Net Profit
- 5,165
- EPS
- —
- Dividend Payout %
- —
- Minority Interest
- 6
- Share of Associates
- -6
- Adjusted EPS
- —
- Minority Interest
- 6
- Share of Associates
- -6
- Adjusted EPS
- —
COMPOUNDED SALES GROWTH
- 10 Years:
- 8%
- 5 Years:
- 8%
- 3 Years:
- 2%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 5%
- 5 Years:
- 2%
- 3 Years:
- 0%
STOCK PRICE CAGR
- 10 Years:
- 13%
- 5 Years:
- 3%
- 3 Years:
- 9%
- 1 Year:
- 4%
RETURN ON EQUITY
- 10 Years:
- 18%
- 5 Years:
- 16%
- 3 Years:
- 14%
- Last Year:
- 17%
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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| LIABILITIES | - | - | - | - | - | - | - | - | - | - |
| Equity Capital | 439 | 442 | 444 | 436 | 437 | 439 | 440 | 441 | 442 | 443 |
| 15,451 | 17,986 | 19,432 | 20,951 | 23,957 | 26,038 | 27,100 | 25,924 | 26,701 | 28,941 | |
| 834 | 955 | 1,196 | 2,250 | 1,496 | 1,348 | 1,357 | 1,358 | 358 | 69 | |
| Trade Payables | 1,806 | 2,037 | 2,489 | 3,257 | 2,785 | 4,095 | 4,385 | 3,785 | 4,411 | 5,040 |
| 7,269 | 8,441 | 9,276 | 9,616 | 10,089 | 12,132 | 11,575 | 10,476 | 10,725 | 12,690 | |
| Total Liabilities | 25,799 | 29,861 | 32,838 | 36,509 | 38,765 | 44,052 | 44,857 | 41,984 | 42,637 | 47,183 |
| ASSETS | - | - | - | - | - | - | - | - | - | - |
| 6,359 | 7,432 | 6,890 | 8,728 | 8,929 | 14,704 | 14,857 | 13,832 | 13,948 | 14,832 | |
| Capital Work in Progress | 373 | 240 | 276 | 50 | 118 | 165 | 84 | 101 | 21 | 27 |
| 2,396 | 4,841 | 7,342 | 5,848 | 10,238 | 4,884 | 3,388 | 3,238 | 3,182 | 3,426 | |
| 61 | 66 | 75 | 36 | 24 | 40 | 24 | 38 | 39 | 104 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 11,401 | 11,547 | 13,358 | |
| Cash & Bank | 3,219 | 3,044 | 2,359 | 3,148 | 2,835 | 3,974 | 4,255 | 4,736 | 4,542 | 5,105 |
| 13,392 | 14,238 | 15,895 | 18,699 | 16,620 | 20,284 | 22,250 | 8,639 | 9,358 | 10,332 | |
| Total Assets | 25,799 | 29,861 | 32,838 | 36,509 | 38,765 | 44,052 | 44,857 | 41,984 | 42,637 | 47,183 |
| Total Debt | 1,366 | 2,397 | 1,996 | 2,471 | 1,693 | 1,582 | 1,578 | 1,531 | 471 | 70 |
| Net Working Capital | 9,907 | 10,190 | 11,235 | 12,247 | 14,982 | 11,951 | 11,112 | 10,809 | 11,005 | 13,077 |
| Contingent Liabilities | 13,274 | 10,902 | 10,605 | 11,185 | 10,412 | 9,852 | 10,077 | 10,410 | 7,315 | 6,080 |
| Book Value per Share | 181.06 | 208.60 | 223.98 | 245.32 | 279.11 | 301.70 | 312.96 | 298.72 | 306.78 | 331.79 |
| Face Value | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 |
| Total Debt | 1,366 | 2,397 | 1,996 | 2,471 | 1,693 | 1,582 | 1,578 | 1,531 | 471 | 70 |
| Net Working Capital | 9,907 | 10,190 | 11,235 | 12,247 | 14,982 | 11,951 | 11,112 | 10,809 | 11,005 | 13,077 |
| Contingent Liabilities | 13,274 | 10,902 | 10,605 | 11,185 | 10,412 | 9,852 | 10,077 | 10,410 | 7,315 | 6,080 |
| Book Value per Share | 181.06 | 208.60 | 223.98 | 245.32 | 279.11 | 301.70 | 312.96 | 298.72 | 306.78 | 331.79 |
| Face Value | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 |
- Equity Capital
- 439
- 15,451
- 834
- Trade Payables
- 1,806
- 7,269
- Total Liabilities
- 25,799
- 6,359
- Capital Work in Progress
- 373
- 2,396
- 61
- 0
- Cash & Bank
- 3,219
- 13,392
- Total Assets
- 25,799
- Total Debt
- 1,366
- Net Working Capital
- 9,907
- Contingent Liabilities
- 13,274
- Book Value per Share
- 181.06
- Face Value
- 5.00
- Total Debt
- 1,366
- Net Working Capital
- 9,907
- Contingent Liabilities
- 13,274
- Book Value per Share
- 181.06
- Face Value
- 5.00
- Equity Capital
- 442
- 17,986
- 955
- Trade Payables
- 2,037
- 8,441
- Total Liabilities
- 29,861
- 7,432
- Capital Work in Progress
- 240
- 4,841
- 66
- 0
- Cash & Bank
- 3,044
- 14,238
- Total Assets
- 29,861
- Total Debt
- 2,397
- Net Working Capital
- 10,190
- Contingent Liabilities
- 10,902
- Book Value per Share
- 208.60
- Face Value
- 5.00
- Total Debt
- 2,397
- Net Working Capital
- 10,190
- Contingent Liabilities
- 10,902
- Book Value per Share
- 208.60
- Face Value
- 5.00
- Equity Capital
- 444
- 19,432
- 1,196
- Trade Payables
- 2,489
- 9,276
- Total Liabilities
- 32,838
- 6,890
- Capital Work in Progress
- 276
- 7,342
- 75
- 0
- Cash & Bank
- 2,359
- 15,895
- Total Assets
- 32,838
- Total Debt
- 1,996
- Net Working Capital
- 11,235
- Contingent Liabilities
- 10,605
- Book Value per Share
- 223.98
- Face Value
- 5.00
- Total Debt
- 1,996
- Net Working Capital
- 11,235
- Contingent Liabilities
- 10,605
- Book Value per Share
- 223.98
- Face Value
- 5.00
- Equity Capital
- 436
- 20,951
- 2,250
- Trade Payables
- 3,257
- 9,616
- Total Liabilities
- 36,509
- 8,728
- Capital Work in Progress
- 50
- 5,848
- 36
- 0
- Cash & Bank
- 3,148
- 18,699
- Total Assets
- 36,509
- Total Debt
- 2,471
- Net Working Capital
- 12,247
- Contingent Liabilities
- 11,185
- Book Value per Share
- 245.32
- Face Value
- 5.00
- Total Debt
- 2,471
- Net Working Capital
- 12,247
- Contingent Liabilities
- 11,185
- Book Value per Share
- 245.32
- Face Value
- 5.00
- Equity Capital
- 437
- 23,957
- 1,496
- Trade Payables
- 2,785
- 10,089
- Total Liabilities
- 38,765
- 8,929
- Capital Work in Progress
- 118
- 10,238
- 24
- 0
- Cash & Bank
- 2,835
- 16,620
- Total Assets
- 38,765
- Total Debt
- 1,693
- Net Working Capital
- 14,982
- Contingent Liabilities
- 10,412
- Book Value per Share
- 279.11
- Face Value
- 5.00
- Total Debt
- 1,693
- Net Working Capital
- 14,982
- Contingent Liabilities
- 10,412
- Book Value per Share
- 279.11
- Face Value
- 5.00
- Equity Capital
- 439
- 26,038
- 1,348
- Trade Payables
- 4,095
- 12,132
- Total Liabilities
- 44,052
- 14,704
- Capital Work in Progress
- 165
- 4,884
- 40
- 0
- Cash & Bank
- 3,974
- 20,284
- Total Assets
- 44,052
- Total Debt
- 1,582
- Net Working Capital
- 11,951
- Contingent Liabilities
- 9,852
- Book Value per Share
- 301.70
- Face Value
- 5.00
- Total Debt
- 1,582
- Net Working Capital
- 11,951
- Contingent Liabilities
- 9,852
- Book Value per Share
- 301.70
- Face Value
- 5.00
- Equity Capital
- 440
- 27,100
- 1,357
- Trade Payables
- 4,385
- 11,575
- Total Liabilities
- 44,857
- 14,857
- Capital Work in Progress
- 84
- 3,388
- 24
- 0
- Cash & Bank
- 4,255
- 22,250
- Total Assets
- 44,857
- Total Debt
- 1,578
- Net Working Capital
- 11,112
- Contingent Liabilities
- 10,077
- Book Value per Share
- 312.96
- Face Value
- 5.00
- Total Debt
- 1,578
- Net Working Capital
- 11,112
- Contingent Liabilities
- 10,077
- Book Value per Share
- 312.96
- Face Value
- 5.00
- Equity Capital
- 441
- 25,924
- 1,358
- Trade Payables
- 3,785
- 10,476
- Total Liabilities
- 41,984
- 13,832
- Capital Work in Progress
- 101
- 3,238
- 38
- 11,401
- Cash & Bank
- 4,736
- 8,639
- Total Assets
- 41,984
- Total Debt
- 1,531
- Net Working Capital
- 10,809
- Contingent Liabilities
- 10,410
- Book Value per Share
- 298.72
- Face Value
- 5.00
- Total Debt
- 1,531
- Net Working Capital
- 10,809
- Contingent Liabilities
- 10,410
- Book Value per Share
- 298.72
- Face Value
- 5.00
- Equity Capital
- 442
- 26,701
- 358
- Trade Payables
- 4,411
- 10,725
- Total Liabilities
- 42,637
- 13,948
- Capital Work in Progress
- 21
- 3,182
- 39
- 11,547
- Cash & Bank
- 4,542
- 9,358
- Total Assets
- 42,637
- Total Debt
- 471
- Net Working Capital
- 11,005
- Contingent Liabilities
- 7,315
- Book Value per Share
- 306.78
- Face Value
- 5.00
- Total Debt
- 471
- Net Working Capital
- 11,005
- Contingent Liabilities
- 7,315
- Book Value per Share
- 306.78
- Face Value
- 5.00
- Equity Capital
- 443
- 28,941
- 69
- Trade Payables
- 5,040
- 12,690
- Total Liabilities
- 47,183
- 14,832
- Capital Work in Progress
- 27
- 3,426
- 104
- 13,358
- Cash & Bank
- 5,105
- 10,332
- Total Assets
- 47,183
- Total Debt
- 70
- Net Working Capital
- 13,077
- Contingent Liabilities
- 6,080
- Book Value per Share
- 331.79
- Face Value
- 5.00
- Total Debt
- 70
- Net Working Capital
- 13,077
- Contingent Liabilities
- 6,080
- Book Value per Share
- 331.79
- Face Value
- 5.00
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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 4,071 | 3,554 | 4,432 | 4,358 | 8,094 | 5,285 | 5,572 | 6,376 | 5,786 | 6,172 | |
| Cash from Investing | -2,890 | -3,360 | -2,116 | 1,029 | -5,450 | 482 | -278 | -1,314 | -23 | -409 |
| Cash from Financing | -1,571 | -269 | -2,251 | -4,466 | -2,987 | -4,667 | -5,078 | -4,767 | -5,799 | -5,130 |
| -389 | -76 | 64 | 921 | -343 | 1,100 | 215 | 296 | -37 | 632 | |
| Free Cash Flow | 430 | 1,562 | 4,402 | 1,447 | 6,960 | -1,791 | 3,540 | 6,117 | 4,965 | 3,554 |
| OCF / Net Profit | 1.43 | 0.94 | 1.03 | 1.12 | 1.86 | 0.94 | 1.15 | 2.66 | 1.36 | 1.28 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 14,802 | 12,580 | 14,558 | 16,273 | 19,791 | 16,384 |
| OCF / Net Profit | 1.43 | 0.94 | 1.03 | 1.12 | 1.86 | 0.94 | 1.15 | 2.66 | 1.36 | 1.28 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 14,802 | 12,580 | 14,558 | 16,273 | 19,791 | 16,384 |
- 4,071
- Cash from Investing
- -2,890
- Cash from Financing
- -1,571
- -389
- Free Cash Flow
- 430
- OCF / Net Profit
- 1.43
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.43
- Cumulative 5-Year FCF
- 0
- 3,554
- Cash from Investing
- -3,360
- Cash from Financing
- -269
- -76
- Free Cash Flow
- 1,562
- OCF / Net Profit
- 0.94
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 0.94
- Cumulative 5-Year FCF
- 0
- 4,432
- Cash from Investing
- -2,116
- Cash from Financing
- -2,251
- 64
- Free Cash Flow
- 4,402
- OCF / Net Profit
- 1.03
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.03
- Cumulative 5-Year FCF
- 0
- 4,358
- Cash from Investing
- 1,029
- Cash from Financing
- -4,466
- 921
- Free Cash Flow
- 1,447
- OCF / Net Profit
- 1.12
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.12
- Cumulative 5-Year FCF
- 0
- 8,094
- Cash from Investing
- -5,450
- Cash from Financing
- -2,987
- -343
- Free Cash Flow
- 6,960
- OCF / Net Profit
- 1.86
- Cumulative 5-Year FCF
- 14,802
- OCF / Net Profit
- 1.86
- Cumulative 5-Year FCF
- 14,802
- 5,285
- Cash from Investing
- 482
- Cash from Financing
- -4,667
- 1,100
- Free Cash Flow
- -1,791
- OCF / Net Profit
- 0.94
- Cumulative 5-Year FCF
- 12,580
- OCF / Net Profit
- 0.94
- Cumulative 5-Year FCF
- 12,580
- 5,572
- Cash from Investing
- -278
- Cash from Financing
- -5,078
- 215
- Free Cash Flow
- 3,540
- OCF / Net Profit
- 1.15
- Cumulative 5-Year FCF
- 14,558
- OCF / Net Profit
- 1.15
- Cumulative 5-Year FCF
- 14,558
- 6,376
- Cash from Investing
- -1,314
- Cash from Financing
- -4,767
- 296
- Free Cash Flow
- 6,117
- OCF / Net Profit
- 2.66
- Cumulative 5-Year FCF
- 16,273
- OCF / Net Profit
- 2.66
- Cumulative 5-Year FCF
- 16,273
- 5,786
- Cash from Investing
- -23
- Cash from Financing
- -5,799
- -37
- Free Cash Flow
- 4,965
- OCF / Net Profit
- 1.36
- Cumulative 5-Year FCF
- 19,791
- OCF / Net Profit
- 1.36
- Cumulative 5-Year FCF
- 19,791
- 6,172
- Cash from Investing
- -409
- Cash from Financing
- -5,130
- 632
- Free Cash Flow
- 3,554
- OCF / Net Profit
- 1.28
- Cumulative 5-Year FCF
- 16,384
- OCF / Net Profit
- 1.28
- Cumulative 5-Year FCF
- 16,384
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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | - | - | - | - | - | - | - | - | - | - |
| EPS (₹) | 32.05 | 43.01 | 48.43 | 46.26 | 50.66 | 63.42 | 54.90 | 26.71 | 48.05 | 54.32 |
| Book Value (₹) | 181.06 | 208.60 | 223.98 | 245.32 | 279.11 | 301.70 | 312.96 | 298.72 | 306.78 | 331.79 |
| Dividend per Share (₹) | 9.00 | 14.00 | 14.00 | 15.00 | 45.00 | 45.00 | 50.00 | 40.00 | 45.00 | 51.00 |
| Cash EPS (₹) | 43.63 | 55.14 | 61.05 | 61.29 | 66.48 | 81.48 | 77.43 | 47.74 | 69.01 | 75.51 |
| PROFITABILITY | - | - | - | - | - | - | - | - | - | - |
| Operating Margin % | 17.03% | 19.91% | 19.78% | 14.94% | 20.03% | 20.45% | 16.43% | 8.59% | 12.58% | 14.51% |
| Net Margin % | 9.78% | 12.30% | 12.34% | 10.57% | 11.50% | 12.61% | 9.11% | 4.61% | 8.03% | 8.46% |
| ROE % | 19.05% | 22.07% | 22.39% | 18.89% | 19.02% | 22.13% | 17.98% | 8.89% | 15.90% | 17.00% |
| ROCE % | 22.15% | 24.29% | 24.69% | 21.42% | 22.99% | 26.49% | 22.41% | 12.02% | 20.43% | 23.04% |
| 11.93% | 13.60% | 13.68% | 11.24% | 11.57% | 13.60% | 10.93% | 5.52% | 10.05% | 10.70% | |
| EFFICIENCY | - | - | - | - | - | - | - | - | - | - |
| Debtor Days | 70 | 70 | 71 | 72 | 80 | 86 | 85 | 85 | 79 | 80 |
| Inventory Days | 1 | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 70 | 71 | 71 | 73 | 80 | 86 | 85 | 85 | 79 | 80 | |
| FINANCIAL HEALTH | - | - | - | - | - | - | - | - | - | - |
| Debt to Equity (x) | 0.09x | 0.13x | 0.10x | 0.12x | 0.07x | 0.06x | 0.06x | 0.06x | 0.02x | 0.00x |
| Interest Coverage (x) | 30.96x | 31.04x | 42.62x | 27.36x | 35.21x | 46.83x | 20.80x | 9.22x | 18.57x | 20.48x |
| 2.55x | 2.29x | 2.09x | 2.12x | 2.46x | 1.96x | 1.83x | 1.86x | 1.87x | 1.90x | |
| GROWTH | - | - | - | - | - | - | - | - | - | - |
| Revenue Growth % | 9.99% | 5.60% | 12.90% | 6.12% | 2.68% | 17.94% | 19.36% | -2.43% | 1.91% | 7.22% |
| Operating Profit Growth % | 5.35% | 23.46% | 12.16% | -2.48% | 13.17% | 20.42% | -4.11% | -38.07% | 44.18% | 15.95% |
| Net Profit Growth % | -5.81% | 32.81% | 13.27% | -9.13% | 11.69% | 29.34% | -13.73% | -50.65% | 77.44% | 12.99% |
| 0.00% | 0.00% | 0.00% | -4.48% | 0.00% | 0.00% | 0.00% | -51.34% | 79.87% | 13.06% | |
| VALUATION | - | - | - | - | - | - | - | - | - | - |
| P/E (x) | 0.00x | 0.00x | 0.00x | 12.21x | 0.00x | 0.00x | 0.00x | 46.81x | 29.51x | 25.53x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 2.30x | 0.00x | 0.00x | 0.00x | 4.19x | 4.62x | 4.18x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 2.66% | 0.00% | 0.00% | 0.00% | 3.20% | 3.17% | 3.68% |
| 0.00x | 0.00x | 0.00x | 7.25x | 0.00x | 0.00x | 0.00x | 19.76x | 15.53x | 12.99x |
- EPS (₹)
- 32.05
- Book Value (₹)
- 181.06
- Dividend per Share (₹)
- 9.00
- Cash EPS (₹)
- 43.63
- Operating Margin %
- 17.03%
- Net Margin %
- 9.78%
- ROE %
- 19.05%
- ROCE %
- 22.15%
- 11.93%
- Debtor Days
- 70
- Inventory Days
- 1
- Payable Days
- 0
- 70
- Debt to Equity (x)
- 0.09x
- Interest Coverage (x)
- 30.96x
- 2.55x
- Revenue Growth %
- 9.99%
- Operating Profit Growth %
- 5.35%
- Net Profit Growth %
- -5.81%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
- EPS (₹)
- 43.01
- Book Value (₹)
- 208.60
- Dividend per Share (₹)
- 14.00
- Cash EPS (₹)
- 55.14
- Operating Margin %
- 19.91%
- Net Margin %
- 12.30%
- ROE %
- 22.07%
- ROCE %
- 24.29%
- 13.60%
- Debtor Days
- 70
- Inventory Days
- 1
- Payable Days
- 0
- 71
- Debt to Equity (x)
- 0.13x
- Interest Coverage (x)
- 31.04x
- 2.29x
- Revenue Growth %
- 5.60%
- Operating Profit Growth %
- 23.46%
- Net Profit Growth %
- 32.81%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
- EPS (₹)
- 48.43
- Book Value (₹)
- 223.98
- Dividend per Share (₹)
- 14.00
- Cash EPS (₹)
- 61.05
- Operating Margin %
- 19.78%
- Net Margin %
- 12.34%
- ROE %
- 22.39%
- ROCE %
- 24.69%
- 13.68%
- Debtor Days
- 71
- Inventory Days
- 1
- Payable Days
- 0
- 71
- Debt to Equity (x)
- 0.10x
- Interest Coverage (x)
- 42.62x
- 2.09x
- Revenue Growth %
- 12.90%
- Operating Profit Growth %
- 12.16%
- Net Profit Growth %
- 13.27%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
- EPS (₹)
- 46.26
- Book Value (₹)
- 245.32
- Dividend per Share (₹)
- 15.00
- Cash EPS (₹)
- 61.29
- Operating Margin %
- 14.94%
- Net Margin %
- 10.57%
- ROE %
- 18.89%
- ROCE %
- 21.42%
- 11.24%
- Debtor Days
- 72
- Inventory Days
- 1
- Payable Days
- 0
- 73
- Debt to Equity (x)
- 0.12x
- Interest Coverage (x)
- 27.36x
- 2.12x
- Revenue Growth %
- 6.12%
- Operating Profit Growth %
- -2.48%
- Net Profit Growth %
- -9.13%
- -4.48%
- P/E (x)
- 12.21x
- P/B (x)
- 2.30x
- Dividend Yield %
- 2.66%
- 7.25x
- EPS (₹)
- 50.66
- Book Value (₹)
- 279.11
- Dividend per Share (₹)
- 45.00
- Cash EPS (₹)
- 66.48
- Operating Margin %
- 20.03%
- Net Margin %
- 11.50%
- ROE %
- 19.02%
- ROCE %
- 22.99%
- 11.57%
- Debtor Days
- 80
- Inventory Days
- 0
- Payable Days
- 0
- 80
- Debt to Equity (x)
- 0.07x
- Interest Coverage (x)
- 35.21x
- 2.46x
- Revenue Growth %
- 2.68%
- Operating Profit Growth %
- 13.17%
- Net Profit Growth %
- 11.69%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
- EPS (₹)
- 63.42
- Book Value (₹)
- 301.70
- Dividend per Share (₹)
- 45.00
- Cash EPS (₹)
- 81.48
- Operating Margin %
- 20.45%
- Net Margin %
- 12.61%
- ROE %
- 22.13%
- ROCE %
- 26.49%
- 13.60%
- Debtor Days
- 86
- Inventory Days
- 0
- Payable Days
- 0
- 86
- Debt to Equity (x)
- 0.06x
- Interest Coverage (x)
- 46.83x
- 1.96x
- Revenue Growth %
- 17.94%
- Operating Profit Growth %
- 20.42%
- Net Profit Growth %
- 29.34%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
- EPS (₹)
- 54.90
- Book Value (₹)
- 312.96
- Dividend per Share (₹)
- 50.00
- Cash EPS (₹)
- 77.43
- Operating Margin %
- 16.43%
- Net Margin %
- 9.11%
- ROE %
- 17.98%
- ROCE %
- 22.41%
- 10.93%
- Debtor Days
- 85
- Inventory Days
- 0
- Payable Days
- 0
- 85
- Debt to Equity (x)
- 0.06x
- Interest Coverage (x)
- 20.80x
- 1.83x
- Revenue Growth %
- 19.36%
- Operating Profit Growth %
- -4.11%
- Net Profit Growth %
- -13.73%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
- EPS (₹)
- 26.71
- Book Value (₹)
- 298.72
- Dividend per Share (₹)
- 40.00
- Cash EPS (₹)
- 47.74
- Operating Margin %
- 8.59%
- Net Margin %
- 4.61%
- ROE %
- 8.89%
- ROCE %
- 12.02%
- 5.52%
- Debtor Days
- 85
- Inventory Days
- 0
- Payable Days
- 0
- 85
- Debt to Equity (x)
- 0.06x
- Interest Coverage (x)
- 9.22x
- 1.86x
- Revenue Growth %
- -2.43%
- Operating Profit Growth %
- -38.07%
- Net Profit Growth %
- -50.65%
- -51.34%
- P/E (x)
- 46.81x
- P/B (x)
- 4.19x
- Dividend Yield %
- 3.20%
- 19.76x
- EPS (₹)
- 48.05
- Book Value (₹)
- 306.78
- Dividend per Share (₹)
- 45.00
- Cash EPS (₹)
- 69.01
- Operating Margin %
- 12.58%
- Net Margin %
- 8.03%
- ROE %
- 15.90%
- ROCE %
- 20.43%
- 10.05%
- Debtor Days
- 79
- Inventory Days
- 0
- Payable Days
- 0
- 79
- Debt to Equity (x)
- 0.02x
- Interest Coverage (x)
- 18.57x
- 1.87x
- Revenue Growth %
- 1.91%
- Operating Profit Growth %
- 44.18%
- Net Profit Growth %
- 77.44%
- 79.87%
- P/E (x)
- 29.51x
- P/B (x)
- 4.62x
- Dividend Yield %
- 3.17%
- 15.53x
- EPS (₹)
- 54.32
- Book Value (₹)
- 331.79
- Dividend per Share (₹)
- 51.00
- Cash EPS (₹)
- 75.51
- Operating Margin %
- 14.51%
- Net Margin %
- 8.46%
- ROE %
- 17.00%
- ROCE %
- 23.04%
- 10.70%
- Debtor Days
- 80
- Inventory Days
- 0
- Payable Days
- 0
- 80
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 20.48x
- 1.90x
- Revenue Growth %
- 7.22%
- Operating Profit Growth %
- 15.95%
- Net Profit Growth %
- 12.99%
- 13.06%
- P/E (x)
- 25.53x
- P/B (x)
- 4.18x
- Dividend Yield %
- 3.68%
- 12.99x
Documents
Announcements
- Allotment of Securities
2026-08-17 - Tech Mahindra Limited has informed the Exchange regarding allotment of 48950 securities pursuant to ESOP/ESPS at its meeting held on August 17, 2026
- General Updates
2026-08-08 - Tech Mahindra Limited has informed the Exchange about General Updates
Annual Reports
Credit Ratings
Nothing filed yet.
Concalls
Jul 2026
Apr 2026
Jan 2026

