Persistent Systems Ltd
Persistent Systems provides software engineering and strategy services to help companies implement and modernize their businesses. It has its own software and frameworks with pre-built integration and acceleration [1]. It also has partnership with providers such as Salesforce and AWS [2].
- Market Cap ₹ 79,100 Cr.
- Current Price ₹ 5,014
- High / Low ₹ 6,599 / 4,449
- Stock P/E 40.9
- Book Value ₹ 497
- Dividend Yield 0.70 %
- ROCE 34.4 %
- ROE 27.3 %
- Face Value ₹ 5.00
Pros
- Company is almost debt free.
- Company has delivered good profit growth of 35.9% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 25.4%
- Company has been maintaining a healthy dividend payout of 36.5%
- Company's median sales growth is 19.6% of last 10 years
Cons
- Stock is trading at 10.1 times its book value
- Working capital days have increased from 47.9 days to 73.1 days
* 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.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,891 | 2,312 | 2,878 | 3,034 | 3,366 | 3,566 | 4,188 | 5,711 | 8,351 | 9,822 | 11,939 | 14,748 | |
| 1,501 | 1,921 | 2,413 | 2,565 | 2,810 | 3,073 | 3,505 | 4,753 | 6,831 | 8,146 | 9,881 | 11,953 | |
| Operating Profit | 390 | 392 | 465 | 469 | 556 | 493 | 683 | 958 | 1,519 | 1,676 | 2,058 | 2,795 |
| OPM % | 21% | 17% | 16% | 15% | 17% | 14% | 16% | 17% | 18% | 17% | 17% | 19% |
| 94 | 77 | 84 | 119 | 88 | 132 | 108 | 144 | 41 | 128 | 138 | 91 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 6 | 6 | 12 | 47 | 47 | 67 | 73 |
| Depreciation | 94 | 99 | 149 | 158 | 157 | 166 | 176 | 166 | 272 | 309 | 307 | 403 |
| Profit before tax | 390 | 370 | 401 | 429 | 486 | 452 | 609 | 924 | 1,241 | 1,448 | 1,822 | 2,411 |
| Tax % | 25% | 25% | 25% | 25% | 28% | 25% | 26% | 25% | 26% | 24% | 23% | 23% |
| 291 | 277 | 301 | 323 | 352 | 340 | 451 | 690 | 921 | 1,093 | 1,400 | 1,865 | |
| EPS in Rs | 18.16 | 17.33 | 18.84 | 20.19 | 21.98 | 22.26 | 29.48 | 45.15 | 60.24 | 70.98 | 90.54 | 118.23 |
| Dividend Payout % | 41% | 23% | 24% | 25% | 25% | 27% | 34% | 34% | 41% | 37% | 39% | 34% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 20% |
| 5 Years: | 29% |
| 3 Years: | 21% |
| TTM: | 24% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 22% |
| 5 Years: | 36% |
| 3 Years: | 28% |
| TTM: | 42% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 30% |
| 5 Years: | 35% |
| 3 Years: | 29% |
| 1 Year: | -8% |
| Return on Equity | |
|---|---|
| 10 Years: | 22% |
| 5 Years: | 25% |
| 3 Years: | 25% |
| Last Year: | 27% |
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 | 80 | 80 | 80 | 80 | 79 | 76 | 76 | 76 | 76 | 77 | 78 | 79 |
| Reserves | 1,326 | 1,578 | 1,819 | 2,047 | 2,266 | 2,309 | 2,719 | 3,292 | 3,889 | 4,881 | 6,241 | 7,759 |
| 4 | 3 | 3 | 2 | 2 | 71 | 98 | 578 | 655 | 451 | 311 | 477 | |
| 365 | 459 | 433 | 514 | 509 | 635 | 771 | 1,473 | 1,999 | 1,997 | 2,092 | 3,061 | |
| Total Liabilities | 1,775 | 2,120 | 2,335 | 2,644 | 2,856 | 3,092 | 3,666 | 5,419 | 6,619 | 7,405 | 8,722 | 11,377 |
| 408 | 437 | 536 | 512 | 401 | 432 | 457 | 1,534 | 2,341 | 2,221 | 2,541 | 2,883 | |
| CWIP | 4 | 27 | 29 | 5 | 32 | 30 | 12 | 107 | 16 | 34 | 77 | 11 |
| Investments | 674 | 638 | 684 | 880 | 764 | 979 | 1,000 | 822 | 640 | 827 | 980 | 1,615 |
| 689 | 1,018 | 1,086 | 1,247 | 1,659 | 1,652 | 2,197 | 2,956 | 3,622 | 4,324 | 5,123 | 6,868 | |
| Total Assets | 1,775 | 2,120 | 2,335 | 2,644 | 2,856 | 3,092 | 3,666 | 5,419 | 6,619 | 7,405 | 8,722 | 11,377 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 312 | 254 | 286 | 421 | 432 | 352 | 736 | 845 | 956 | 1,302 | 1,157 | 1,767 | |
| -230 | -86 | -222 | -337 | -233 | -6 | -540 | -971 | -383 | -525 | -517 | -610 | |
| -66 | -127 | -58 | -96 | -160 | -329 | -144 | 182 | -404 | -582 | -628 | -748 | |
| Net Cash Flow | 16 | 41 | 6 | -12 | 39 | 16 | 52 | 56 | 169 | 196 | 12 | 409 |
| Free Cash Flow | 216 | 89 | 70 | 356 | 395 | 277 | 611 | 464 | 524 | 947 | 964 | 1,572 |
| CFO/OP | 105% | 91% | 84% | 116% | 103% | 98% | 131% | 113% | 85% | 98% | 81% | 86% |
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 | 69 | 67 | 60 | 58 | 53 | 61 | 50 | 61 | 69 | 62 | 56 | 53 |
| Inventory Days | ||||||||||||
| Days Payable | ||||||||||||
| Cash Conversion Cycle | 69 | 67 | 60 | 58 | 53 | 61 | 50 | 61 | 69 | 62 | 56 | 53 |
| Working Capital Days | 29 | 40 | 49 | 53 | 43 | 37 | 25 | 4 | 20 | 24 | 47 | 73 |
| ROCE % | 29% | 23% | 23% | 20% | 20% | 18% | 21% | 26% | 30% | 29% | 30% | 34% |
Insights
In beta| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Dec 2025 | |
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| Number of Clients >$1M Revenue Number |
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| Total Contract Value (TCV) Bookings USD Million |
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| R&D Expenditure (Percentage of Turnover) % ・Standalone data |
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Extracted by Screener AI
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
22h - Persistent Systems held investor/analyst sessions on May 5, 2026; no additional information was shared.
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
1d - Persistent partners with IIT Kharagpur to launch AI Innovation Lab for research and talent development.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
29 Apr - Of Investor/Analyst sessions scheduled to be held on Tuesday, May 5, 2026, is as enclosed.
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
28 Apr - Transcript of the investor/analyst call held on Tuesday, April 21, 2026, is as enclosed.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
27 Apr - Persistent Systems held an investor session with Mirabilis Investment Trust; no additional information was shared.
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2013
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Financial Year 2012
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Concalls
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Apr 2026Transcript PPT REC
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Jan 2026Transcript PPT REC
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Oct 2025Transcript PPT REC
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Oct 2024Transcript PPT REC
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Jul 2024Transcript PPT REC
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Oct 2023Transcript PPT
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Oct 2022Transcript PPT
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Oct 2022TranscriptAI SummaryPPT
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Jul 2022Transcript PPT
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May 2022Transcript PPT
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Apr 2022TranscriptAI SummaryPPT
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Mar 2022TranscriptAI SummaryPPT
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Feb 2022TranscriptAI SummaryPPT
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Jan 2022TranscriptAI SummaryPPT
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Oct 2021TranscriptAI SummaryPPT
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Oct 2021TranscriptAI SummaryPPT
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Jul 2021Transcript PPT
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Jul 2021TranscriptAI SummaryPPT
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Apr 2021Transcript PPT
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Jan 2021Transcript PPT
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Oct 2020Transcript PPT
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Jul 2020TranscriptPPT
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May 2020Transcript PPT
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Dec 2019TranscriptPPT
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Jul 2019TranscriptPPT
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Apr 2019TranscriptPPT
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Jan 2019TranscriptPPT
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Nov 2018TranscriptPPT
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Oct 2018TranscriptAI SummaryPPT
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Aug 2018TranscriptPPT
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Apr 2018TranscriptPPT
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Jan 2018TranscriptPPT
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Oct 2017TranscriptAI SummaryPPT
Solutions Offered[1]
The company provides complete Digital Engineering solutions for :
a Product & Platform Engineering
b CX & Design-Led Transformation
c Cloud-enabled Enterprise Modernization
d Data & Artificial Intelligence
e Intelligent Automation