Tech Mahindra Ltd

Tech Mahindra is a leading provider of consulting-led integrated portfolio services to customers which are Telecom Equipment Manufacturers, Telecom Service Providers and IT Infrastructure Service Providers, Business Process Outsourcing Service Providers as well as Enterprise Solutions Services (BFSI, Retail & Logistics, Manufacturing, E&U, and Healthcare, Life Sciences, etc.) of Information Technology (IT) and IT-enabled services delivered through a network of multiple locations around the globe.

  • Market Cap: 74,655 Cr.
  • Current Price: 772.35
  • 52 weeks High / Low 845.90 / 470.25
  • Book Value: 230.42
  • Stock P/E: 16.35
  • Dividend Yield: 1.94 %
  • ROCE: 25.27 %
  • ROE: 21.30 %
  • Sales Growth (3Yrs): 8.05 %
  • Listed on BSE and NSE
  • Company Website
  • Face Value: 5.00
Edit ratios
Pros:
Company is virtually debt free.
Company has been maintaining a healthy dividend payout of 32.57%
Cons:
The company has delivered a poor growth of 8.81% over past five years.
Tax rate seems low
Earnings include an other income of Rs.2398.90 Cr.
** Remarks:
Some businesses are provided tax benefits to encourage their development

Peer comparison Sector: IT - Software // Industry: Computers - Software - Large

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020
5,920 5,973 6,026 6,290 6,875 6,990 7,073 6,862 7,096 7,699 7,572 7,165
4,867 4,985 4,942 5,186 5,450 5,511 5,912 5,851 6,008 6,557 7,113 6,147
Operating Profit 1,053 988 1,084 1,104 1,425 1,478 1,161 1,011 1,088 1,142 459 1,017
OPM % 18% 17% 18% 18% 21% 21% 16% 15% 15% 15% 6% 14%
Other Income 735 194 402 178 408 81 292 239 580 290 1,258 272
Interest 19 18 17 8 12 13 10 12 12 16 27 18
Depreciation 158 170 180 169 176 162 152 158 170 167 172 169
Profit before tax 1,611 994 1,290 1,106 1,646 1,385 1,291 1,080 1,486 1,250 1,518 1,102
Tax % 14% 15% 24% 18% 19% 17% 24% 24% 6% 26% 8% 22%
Net Profit 1,378 844 978 911 1,336 1,153 980 823 1,397 923 1,392 854
EPS in Rs 14.13 8.65 9.99 9.27 13.58 11.72 9.98 8.50 14.44 9.55 14.39 8.83
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
4,358 4,484 4,966 5,243 6,002 16,266 19,163 20,970 23,165 23,692 27,228 29,225 29,531
3,181 3,402 4,036 4,412 4,824 12,705 15,897 17,582 19,494 19,793 22,059 25,481 25,825
Operating Profit 1,177 1,082 929 831 1,178 3,561 3,266 3,388 3,672 3,899 5,169 3,744 3,706
OPM % 27% 24% 19% 16% 20% 22% 17% 16% 16% 16% 19% 13% 13%
Other Income 23 82 127 -0 -95 190 186 1,083 893 1,728 960 2,322 2,399
Interest 2 160 111 102 109 87 48 53 64 71 43 67 73
Depreciation 107 130 138 150 157 427 473 542 622 656 659 667 678
Profit before tax 1,090 874 806 578 817 3,238 2,930 3,876 3,879 4,900 5,427 5,332 5,355
Tax % 10% 15% 14% 20% 20% 17% 23% 18% 21% 18% 19% 15%
Net Profit 987 743 697 461 652 2,686 2,256 3,173 3,047 3,994 4,380 4,534 4,566
EPS in Rs 20.09 15.04 13.66 8.87 12.52 28.76 22.23 32.81 31.30 40.78 44.54 46.95 47.21
Dividend Payout % 5% 6% 7% 11% 10% 17% 26% 37% 29% 34% 31% 32%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:20.62%
5 Years:8.81%
3 Years:8.05%
TTM:6.23%
Compounded Profit Growth
10 Years:19.81%
5 Years:15.64%
3 Years:14.64%
TTM:6.39%
Stock Price CAGR
10 Years:14.94%
5 Years:6.74%
3 Years:19.04%
1 Year:9.66%
Return on Equity
10 Years:22.19%
5 Years:21.35%
3 Years:21.37%
Last Year:21.30%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Corp Actions
Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
122 122 126 128 128 234 480 484 487 490 492 483
Reserves 1,759 2,744 3,258 3,316 4,054 8,355 10,775 14,505 16,402 19,043 20,154 21,790
Borrowings 0 2,135 1,223 1,127 1,404 309 5 228 262 255 13 138
871 835 1,474 1,792 1,672 5,841 5,756 5,677 6,582 7,043 9,684 7,911
Total Liabilities 2,752 5,836 6,080 6,362 7,258 14,739 17,016 20,894 23,733 26,830 30,342 30,322
490 594 600 653 720 1,834 1,981 2,122 2,498 3,230 2,786 3,336
CWIP 154 119 61 163 28 264 551 628 362 235 272 35
Investments 454 3,114 3,115 3,254 3,808 2,294 4,088 4,976 7,716 10,258 12,961 10,649
1,654 2,010 2,305 2,293 2,702 10,348 10,397 13,168 13,156 13,106 14,324 16,302
Total Assets 2,752 5,836 6,080 6,362 7,258 14,739 17,016 20,894 23,733 26,830 30,342 30,322

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
1,200 1,412 471 665 642 1,294 2,108 2,876 3,332 3,273 3,634 2,380
-620 -2,571 -132 -401 -595 352 -1,637 -1,082 -2,590 -2,146 -1,529 3,306
-164 804 -287 -322 89 -917 -770 -792 -1,479 -1,210 -2,036 -4,842
Net Cash Flow 415 -355 52 -57 136 729 -299 1,002 -736 -82 69 844

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 69% 30% 19% 16% 18% 44% 29% 30% 24% 26% 27% 25%
Debtor Days 72 81 71 87 83 88 81 90 72 79 80 78
Inventory Turnover 56.46 33.48 52.20 183.33

Shareholding pattern in percentages

Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020
36.14 36.01 36.00 35.98 35.96 35.94 35.87 35.90 35.88 35.87 35.85 35.83
37.41 37.63 38.99 38.65 39.16 38.54 38.81 38.94 37.75 39.75 39.67 39.62
12.84 13.23 12.45 12.84 12.44 12.78 11.66 11.86 14.21 12.94 13.20 13.03
0.22 0.22 0.22 0.17 0.17 0.17 0.17 0.17 0.17 0.17 0.17 0.17
13.35 12.86 12.30 12.33 12.24 12.54 13.49 13.12 11.98 11.26 11.11 11.34
0.05 0.05 0.04 0.04 0.04 0.04 0.01 0.01 0.01 0.01 0.01 0.01