Mastek Ltd

Mastek Ltd

₹ 1,693 0.57%
29 Apr 3:10 p.m.
About

Established in 1982, Mastek is a provider of vertically-focused enterprise technology solutions. Having its presence in IT industry for almost 4 decades, Mastek Ltd has evolved from an IT solutions provider to Digital transformation partner.[1]

Key Points

Services Offered
The company’s offerings include business and technology services such as Application Development, Application Maintenance, Business Intelligence and Data Warehousing, Testing & Assurance, and Legacy Modernisation. [1]

  • Market Cap 5,247 Cr.
  • Current Price 1,693
  • High / Low 2,818 / 1,334
  • Stock P/E 12.4
  • Book Value 965
  • Dividend Yield 1.35 %
  • ROCE 18.0 %
  • ROE 15.6 %
  • Face Value 5.00

Pros

  • Company has reduced debt.
  • Company has been maintaining a healthy dividend payout of 19.0%
  • Company's median sales growth is 18.3% of last 10 years

Cons

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
709 725 766 784 780 813 867 870 905 915 940 906 938
584 598 642 651 655 689 724 729 767 777 795 754 787
Operating Profit 126 127 123 134 125 124 143 141 139 137 146 152 151
OPM % 18% 18% 16% 17% 16% 15% 16% 16% 15% 15% 15% 17% 16%
-0 2 1 3 5 4 17 13 -5 11 15 14 0
Interest 9 9 13 13 9 9 11 12 10 9 9 7 7
Depreciation 20 20 21 22 27 20 20 17 19 18 18 18 18
Profit before tax 96 100 90 102 94 99 129 126 106 121 134 141 125
Tax % 25% 27% 28% 24% -1% 28% 0% 25% 23% 24% 27% 23% 15%
73 74 65 78 94 72 129 95 81 92 97 108 106
EPS in Rs 23.77 22.91 20.50 24.56 29.85 23.18 41.68 30.67 26.20 29.75 31.46 34.96 34.24
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
1,013 527 560 817 1,033 1,071 1,722 2,184 2,563 3,055 3,455 3,699
965 509 515 718 902 916 1,357 1,721 2,108 2,546 2,909 3,113
Operating Profit 47 18 45 100 132 156 364 463 456 509 546 586
OPM % 5% 3% 8% 12% 13% 15% 21% 21% 18% 17% 16% 16%
14 15 12 21 25 17 28 36 64 12 30 40
Interest 1 0 4 6 6 4 8 8 25 44 42 32
Depreciation 37 16 15 19 17 25 45 43 67 90 75 73
Profit before tax 22 16 39 96 133 144 339 448 427 386 459 521
Tax % 20% 17% 17% 27% 24% 21% 26% 26% 27% 19% 18% 22%
18 14 32 70 101 114 252 333 310 311 376 404
EPS in Rs 7.86 5.97 13.86 29.53 42.33 44.82 82.97 98.32 95.99 97.36 121.50 130.33
Dividend Payout % 32% 42% 25% 20% 20% 18% 17% 19% 20% 20% 19% 18%
Compounded Sales Growth
10 Years: 22%
5 Years: 17%
3 Years: 13%
TTM: 7%
Compounded Profit Growth
10 Years: 42%
5 Years: 16%
3 Years: 16%
TTM: 16%
Stock Price CAGR
10 Years: 28%
5 Years: 0%
3 Years: -1%
1 Year: -21%
Return on Equity
10 Years: 18%
5 Years: 18%
3 Years: 16%
Last Year: 16%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 11 12 12 12 12 12 13 15 15 15 15 16
Reserves 585 308 457 537 704 778 846 1,056 1,668 2,072 2,447 2,976
29 0 66 70 70 335 273 203 404 519 583 438
207 108 170 202 179 763 1,146 1,193 1,024 1,045 803 879
Total Liabilities 832 428 705 821 966 1,888 2,277 2,467 3,111 3,652 3,848 4,309
279 66 180 179 167 857 807 841 1,740 1,950 1,818 1,939
CWIP 1 0 0 2 1 2 2 4 7 1 2 2
Investments 54 50 274 284 396 276 234 26 69 94 178 234
498 312 251 356 401 754 1,235 1,596 1,296 1,607 1,851 2,135
Total Assets 832 428 705 821 966 1,888 2,277 2,467 3,111 3,652 3,848 4,309

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
59 32 43 65 75 184 287 273 108 420 395 542
-28 -84 -127 -18 -54 -262 218 -26 -719 -249 -259 -66
22 -4 65 -7 -16 205 -118 -128 93 2 -57 -300
Net Cash Flow 53 -57 -20 40 5 127 387 119 -519 173 80 176
Free Cash Flow 10 20 31 50 60 169 276 237 126 391 376 515
CFO/OP 121% 199% 102% 74% 80% 149% 92% 83% 53% 104% 95% 121%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 48 67 55 78 74 108 79 73 72 67 78 57
Inventory Days
Days Payable
Cash Conversion Cycle 48 67 55 78 74 108 79 73 72 67 78 57
Working Capital Days 25 38 29 15 38 4 -35 -20 34 -1 28 42
ROCE % 5% 3% 10% 17% 19% 16% 26% 32% 23% 18% 17% 18%

Insights

In beta
Mar 2014 Mar 2015 Mar 2016 Mar 2019 Mar 2020 Mar 2023 Mar 2024 Sep 2025
Total Employee Headcount
Numbers

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12-month Order Backlog
USD Million
Revenue Share - Top 5 Clients
%
Revenue Share - UK & Europe
%
Revenue Contribution - Government & Education
%
Number of Active Clients
Numbers

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
36.58% 36.50% 36.48% 36.26% 36.25% 36.24% 36.23% 35.97% 35.96% 35.79% 35.78% 35.77%
13.42% 13.93% 14.10% 14.40% 14.03% 8.14% 9.40% 10.00% 11.05% 11.24% 10.27% 8.03%
5.85% 5.99% 6.41% 7.07% 7.10% 10.41% 9.27% 9.84% 10.52% 11.52% 12.65% 19.02%
44.14% 43.56% 43.01% 42.26% 42.59% 45.22% 45.09% 44.19% 42.47% 41.45% 41.31% 37.18%
No. of Shareholders 1,05,47194,08190,28484,94991,45688,6761,06,6081,03,79898,0131,00,78097,54188,918

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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