Tech Mahindra Ltd

₹ 1,594 -4.40%
Jan 21 - close price
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

Services Offerings
The company offers a wide range of services for e.g. infrastructure & cloud services, engineering services, application services, data analytics, network services, testing services, performance engineering, Security & risk management services, business process services, produce engineering, consulting, etc.[1]

  • Market Cap 154,684 Cr.
  • Current Price 1,594
  • High / Low 1,838 / 915
  • Stock P/E 30.4
  • Book Value 259
  • Dividend Yield 0.94 %
  • ROCE 23.0 %
  • ROE 19.0 %
  • Face Value 5.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 50.05%

Cons

  • The company has delivered a poor sales growth of 7.40% over past five 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.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
8,944 8,892 8,653 9,070 9,655 9,490 9,106 9,372 9,647 9,730 10,198 10,881
7,234 7,281 7,347 7,569 8,091 8,360 7,806 7,669 7,752 7,832 8,321 8,887
Operating Profit 1,709 1,612 1,306 1,501 1,563 1,130 1,300 1,703 1,896 1,897 1,876 1,994
OPM % 19% 18% 15% 17% 16% 12% 14% 18% 20% 20% 18% 18%
Other Income 81 167 341 217 350 287 416 118 221 33 287 282
Interest 36 28 45 38 55 53 50 40 42 42 38 35
Depreciation 284 270 321 342 385 398 383 372 358 344 331 343
Profit before tax 1,471 1,480 1,281 1,338 1,474 966 1,283 1,409 1,716 1,544 1,794 1,898
Tax % 18% 24% 26% 17% 25% 25% 26% 25% 25% 32% 24% 29%
Net Profit 1,203 1,132 959 1,124 1,146 804 972 1,065 1,310 1,081 1,353 1,339
EPS in Rs 12.26 11.52 9.95 11.65 11.87 8.32 10.06 11.01 13.54 11.17 13.97 13.81

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
4,625 5,140 5,490 6,873 18,802 22,621 26,494 29,141 30,773 34,742 36,868 37,855 40,456
3,495 3,721 4,572 5,451 14,630 18,428 22,234 24,956 26,063 28,471 31,365 31,059 32,792
Operating Profit 1,131 1,419 918 1,422 4,172 4,193 4,260 4,184 4,710 6,271 5,503 6,796 7,664
OPM % 24% 28% 17% 21% 22% 19% 16% 14% 15% 18% 15% 18% 19%
Other Income 69 -298 30 -141 244 106 453 775 1,417 534 1,192 788 824
Interest 218 100 103 103 80 69 97 129 162 133 192 174 157
Depreciation 134 144 161 200 522 611 759 978 1,085 1,129 1,446 1,458 1,377
Profit before tax 847 877 685 978 3,815 3,618 3,857 3,853 4,879 5,543 5,058 5,953 6,953
Tax % 17% 15% 21% 24% 20% 27% 22% 26% 22% 23% 23% 27%
Net Profit 700 644 1,096 1,288 3,029 2,628 2,993 2,813 3,800 4,298 4,033 4,428 5,083
EPS in Rs 14.32 12.79 21.48 25.13 32.44 27.35 30.92 28.88 38.78 43.70 41.76 45.73 52.49
Dividend Payout % 6% 8% 5% 5% 15% 22% 35% 28% 33% 29% 32% 89%
Compounded Sales Growth
10 Years: 22%
5 Years: 7%
3 Years: 7%
TTM: 8%
Compounded Profit Growth
10 Years: 16%
5 Years: 8%
3 Years: 5%
TTM: 28%
Stock Price CAGR
10 Years: 26%
5 Years: 28%
3 Years: 31%
1 Year: 59%
Return on Equity
10 Years: 22%
5 Years: 20%
3 Years: 20%
Last Year: 19%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Sep 2021
122 126 128 128 234 480 436 439 442 444 436 437 438
Reserves 2,764 3,225 3,923 5,297 8,947 11,768 14,154 15,996 18,399 19,839 21,376 24,423 24,714
Borrowings 2,135 1,806 1,127 1,380 363 700 1,091 1,366 2,397 1,996 3,670 2,901 2,612
881 887 1,758 2,179 6,396 6,899 6,844 8,256 9,194 11,168 11,835 11,841 13,165
Total Liabilities 5,902 6,045 6,935 8,984 15,940 19,848 22,525 26,057 30,431 33,446 37,318 39,602 40,929
604 617 682 1,245 2,594 4,033 4,309 6,460 7,622 7,061 8,872 9,018 9,754
CWIP 119 110 167 34 266 568 629 373 240 276 50 118 170
Investments 3,014 2,908 3,588 4,099 1,472 2,103 1,297 2,396 4,841 7,342 5,848 10,238 9,079
2,164 2,409 2,498 3,607 11,607 13,145 16,289 16,828 17,728 18,766 22,548 20,228 21,926
Total Assets 5,902 6,045 6,935 8,984 15,940 19,848 22,525 26,057 30,431 33,446 37,318 39,602 40,929

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
1,450 464 712 855 1,596 2,448 3,137 4,071 3,554 4,432 4,358 8,094
-2,986 -133 -420 -622 291 -1,865 -1,453 -2,893 -3,319 -2,104 1,081 -5,433
1,222 -287 -317 65 -972 -829 -496 -1,571 -269 -2,251 -4,466 -2,987
Net Cash Flow -314 44 -26 298 915 -246 1,188 -392 -35 77 974 -326

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 82 89 88 90 84 84 80 67 77 73 75 62
Inventory Days
Days Payable
Cash Conversion Cycle 82 89 88 90 84 84 80 67 77 73 75 62
Working Capital Days 83 86 45 39 53 64 70 69 61 43 61 42
ROCE % 31% 27% 17% 19% 46% 33% 28% 24% 25% 26% 22% 23%

Shareholding Pattern

Numbers in percentages

Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021
35.87 35.90 35.88 35.87 35.85 35.83 35.82 35.79 35.76 35.73 35.70 35.67
38.81 38.94 37.75 39.75 39.67 39.62 37.96 39.05 38.32 36.15 35.55 35.36
11.66 11.86 14.21 12.94 13.20 13.03 14.23 13.54 14.39 16.50 16.90 17.22
0.17 0.17 0.17 0.17 0.17 0.17 0.17 0.17 0.17 0.17 0.17 0.17
13.49 13.12 11.98 11.26 11.11 11.34 11.82 11.45 11.36 11.44 11.67 11.58
0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01

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