Tech Mahindra Ltd

Tech Mahindra Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Tech Mahindra Ltd

₹ 1,454 3.18%
29 Apr 12:18 p.m.
techmahindra.com BSE: 532755 NSE: TECHM
About

Tech Mahindra Ltd provides comprehensive range of IT services, including IT enabled service, application development and maintenance, consulting and enterprise business solutions, etc. to a diversified base of corporate customers in a wide range of industries.[1]

Key Points

Parentage
The company is a subsidiary of the Mahindra Group, a leading global conglomerate with operations in 100+ countries. The group manages 150 companies across 22 major industries, including renewable energy, agriculture, logistics, hospitality, real estate, aerospace, automotive components, and consulting services, etc. [1]

Website BSE NSE
  • Market Cap ₹ 1,42,459 Cr.
  • Current Price ₹ 1,454
  • High / Low ₹ 1,854 / 1,304
  • Stock P/E 28.5
  • Book Value ₹ 302
  • Dividend Yield 3.08 %
  • ROCE 23.1 %
  • ROE 17.6 %
  • Face Value ₹ 5.00
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Pros

  • Company is almost debt free.
  • Stock is providing a good dividend yield of 3.13%.
  • Company has been maintaining a healthy dividend payout of 112%
  • Debtor days have improved from 69.3 to 48.4 days.

Cons

  • The company has delivered a poor sales growth of 8.46% over past five years.
  • Company has a low return on equity of 13.7% over last 3 years.

* 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.

Peer comparison

Information Technology Information Technology IT - Software Computers - Software & Consulting

Part of BSE Sensex Nifty 50 BSE 500 BSE Information Technology BSE 100

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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
13,718 13,159 12,864 13,101 12,871 13,006 13,313 13,286 13,384 13,351 13,995 14,393 15,076
11,915 11,821 11,950 11,955 11,772 11,441 11,563 11,477 11,545 11,416 11,830 12,028 12,511
Operating Profit 1,803 1,338 914 1,146 1,099 1,564 1,750 1,809 1,839 1,935 2,165 2,366 2,565
OPM % 13% 10% 7% 9% 9% 12% 13% 14% 14% 14% 15% 16% 17%
306 200 264 92 380 147 522 23 173 219 40 -293 -205
Interest 93 120 98 116 58 72 89 76 85 78 77 94 89
Depreciation 490 447 466 443 461 462 470 459 462 458 469 474 481
Profit before tax 1,525 971 615 679 959 1,178 1,714 1,297 1,464 1,618 1,659 1,505 1,791
Tax % 26% 28% 18% 23% 31% 27% 27% 24% 22% 30% 28% 26% 24%
1,125 704 505 524 664 865 1,258 989 1,142 1,129 1,202 1,119 1,356
EPS in Rs 11.47 7.10 5.06 5.23 6.77 8.71 12.78 10.05 11.92 11.65 12.19 11.45 13.82
Raw PDF

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
22,621 26,494 29,141 30,773 34,742 36,868 37,855 44,646 53,290 51,996 52,988 56,815
18,428 22,234 24,956 26,063 28,471 31,365 31,059 36,626 45,527 47,489 46,024 47,783
Operating Profit 4,193 4,260 4,184 4,710 6,271 5,503 6,796 8,020 7,763 4,506 6,964 9,033
OPM % 19% 16% 14% 15% 18% 15% 18% 18% 15% 9% 13% 16%
106 453 775 1,417 534 1,192 788 1,115 965 927 864 -240
Interest 69 97 129 162 133 192 174 163 326 392 322 337
Depreciation 611 759 978 1,085 1,129 1,446 1,458 1,520 1,957 1,817 1,853 1,882
Profit before tax 3,618 3,857 3,853 4,879 5,543 5,058 5,953 7,452 6,446 3,224 5,653 6,573
Tax % 27% 22% 26% 22% 23% 23% 27% 24% 25% 26% 25% 27%
2,659 3,027 2,851 3,786 4,289 3,897 4,353 5,630 4,857 2,397 4,253 4,806
EPS in Rs 27.35 30.92 28.88 38.78 43.70 41.76 45.73 57.27 49.60 24.14 43.43 49.10
Dividend Payout % 22% 35% 28% 33% 29% 32% 89% 47% 91% 150% 94% 94%
Compounded Sales Growth
10 Years: 8%
5 Years: 8%
3 Years: 2%
TTM: 7%
Compounded Profit Growth
10 Years: 5%
5 Years: 2%
3 Years: 1%
TTM: 27%
Stock Price CAGR
10 Years: 11%
5 Years: 8%
3 Years: 11%
1 Year: -6%
Return on Equity
10 Years: 18%
5 Years: 16%
3 Years: 14%
Last Year: 18%

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 480 436 439 442 444 436 437 439 440 441 442 443
Reserves 11,768 14,155 15,998 18,401 19,841 21,377 24,428 26,447 27,484 26,228 26,919 29,173
700 1,091 1,366 2,397 1,996 3,670 2,901 2,618 2,740 2,537 2,025 2,186
6,899 6,843 8,254 9,192 11,166 11,834 11,836 14,911 15,162 13,943 14,880 17,568
Total Liabilities 19,848 22,525 26,057 30,431 33,446 37,318 39,602 44,416 45,827 43,149 44,267 49,369
4,033 4,309 6,460 7,622 7,061 8,872 9,018 14,784 14,932 13,903 13,982 14,864
CWIP 568 629 373 240 276 50 118 165 120 133 21 27
Investments 2,103 1,297 2,396 4,841 7,342 5,848 10,238 4,884 3,388 3,238 3,182 3,426
13,145 16,289 16,828 17,728 18,766 22,548 20,228 24,583 27,388 25,875 27,082 31,053
Total Assets 19,848 22,525 26,057 30,431 33,446 37,318 39,602 44,416 45,827 43,149 44,267 49,369

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
2,448 3,137 4,071 3,554 4,432 4,358 8,094 5,285 5,572 6,376 5,786 6,172
-1,865 -1,453 -2,893 -3,319 -2,104 1,081 -5,433 480 -226 -1,318 20 -409
-829 -496 -1,571 -269 -2,251 -4,466 -2,987 -4,667 -5,078 -4,767 -5,834 -5,130
Net Cash Flow -246 1,188 -392 -35 77 974 -326 1,098 267 291 -29 632
Free Cash Flow 1,335 2,266 3,311 2,763 3,653 3,529 7,521 4,450 4,603 5,639 5,303 5,626
CFO/OP 84% 105% 123% 108% 97% 107% 140% 95% 97% 169% 104% 87%

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 84 80 67 77 73 75 62 98 88 80 80 48
Inventory Days
Days Payable
Cash Conversion Cycle 84 80 67 77 73 75 62 98 88 80 80 48
Working Capital Days 54 58 57 42 24 35 24 29 28 23 25 51
ROCE % 32% 27% 23% 24% 25% 22% 23% 26% 22% 12% 19% 23%

Insights

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Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2024 Mar 2025
Total Headcount
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Active Clients
Number
IT LTM Attrition
%
IT Segment Headcount
Number
Million Dollar Clients ($1M+)
Number
IT Utilization (Excluding Trainees)
%
New Deal Wins (TCV)
USD Million

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Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
35.15% 35.13% 35.10% 35.08% 35.04% 35.02% 35.01% 35.00% 34.99% 34.98% 34.97% 34.97%
25.69% 26.22% 24.58% 24.15% 23.27% 23.67% 24.19% 22.95% 23.28% 20.60% 17.94% 18.59%
26.86% 27.03% 28.91% 29.42% 30.66% 30.90% 30.73% 32.13% 32.13% 34.64% 37.79% 37.34%
0.17% 0.17% 0.17% 0.17% 0.17% 0.17% 0.17% 0.17% 0.17% 0.17% 0.17% 0.17%
12.11% 11.44% 11.22% 11.16% 10.84% 10.23% 9.88% 9.74% 9.43% 9.61% 9.14% 8.94%
No. of Shareholders 9,29,8278,85,5908,67,3738,48,4848,26,2847,74,9977,61,3837,61,7017,48,1767,66,7827,39,8837,38,055

* 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.

Click on the line-items to see the names of individual entities.

Documents

Announcements

Annual reports

DRHP

Credit ratings

Concalls