Tech Mahindra Ltd

₹ 1,194 1.19%

19 Apr - close price

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

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

Website BSE NSE

Market Cap ₹ 1,16,591 Cr.
Current Price ₹ 1,194
High / Low ₹ 1,416 / 981
Stock P/E 41.4
Book Value ₹ 271
Dividend Yield 2.68 %
ROCE 22.1 %
ROE 17.6 %
Face Value ₹ 5.00

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Pros

Company has been maintaining a healthy dividend payout of 75.7%

Cons

The company has delivered a poor sales growth of 11.6% 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.

Peer comparison

Sector: IT - Software Industry: Computers - Software - Large

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
	9,647	9,730	10,198	10,881	11,451	12,116	12,708	13,130	13,735	13,718	13,159	12,864	13,101
	7,752	7,832	8,321	8,887	9,392	10,028	10,828	11,185	11,600	11,915	11,821	11,950	11,955
Operating Profit	1,896	1,897	1,876	1,994	2,059	2,088	1,880	1,944	2,135	1,803	1,338	914	1,146
OPM %	20%	20%	18%	18%	18%	17%	15%	15%	16%	13%	10%	7%	9%
	221	33	287	282	223	324	122	290	247	306	200	264	92
Interest	42	42	38	35	34	55	40	79	113	93	120	98	116
Depreciation	358	344	331	343	362	484	477	492	498	490	447	466	443
Profit before tax	1,716	1,544	1,794	1,898	1,886	1,873	1,486	1,664	1,771	1,525	971	615	679
Tax %	25%	32%	24%	29%	27%	18%	23%	22%	27%	26%	28%	18%	23%
	1,290	1,044	1,366	1,341	1,378	1,545	1,148	1,299	1,285	1,125	704	505	524
EPS in Rs	13.54	11.17	13.97	13.81	14.10	15.49	11.64	13.21	13.32	11.47	7.10	5.06	5.23
Raw PDF

Upcoming result date: 25 April 2024

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
	5,490	6,873	18,802	22,621	26,494	29,141	30,773	34,742	36,868	37,855	44,646	53,290	52,842
	4,572	5,451	14,630	18,428	22,234	24,956	26,063	28,471	31,365	31,059	36,626	45,527	47,641
Operating Profit	918	1,422	4,172	4,193	4,260	4,184	4,710	6,271	5,503	6,796	8,020	7,763	5,202
OPM %	17%	21%	22%	19%	16%	14%	15%	18%	15%	18%	18%	15%	10%
	30	-141	244	106	453	775	1,417	534	1,192	788	1,115	965	862
Interest	103	103	80	69	97	129	162	133	192	174	163	326	427
Depreciation	161	200	522	611	759	978	1,085	1,129	1,446	1,458	1,520	1,957	1,846
Profit before tax	685	978	3,815	3,618	3,857	3,853	4,879	5,543	5,058	5,953	7,452	6,446	3,790
Tax %	21%	24%	20%	27%	22%	26%	22%	23%	23%	27%	24%	25%
	1,099	1,307	3,062	2,659	3,027	2,851	3,786	4,289	3,897	4,353	5,630	4,857	2,858
EPS in Rs	21.48	25.13	32.44	27.35	30.92	28.88	38.78	43.70	41.76	45.73	57.27	49.60	28.86
Dividend Payout %	5%	5%	15%	22%	35%	28%	33%	29%	32%	89%	47%	91%

Compounded Sales Growth
10 Years:	23%
5 Years:	12%
3 Years:	13%
TTM:	2%

Compounded Profit Growth
10 Years:	14%
5 Years:	6%
3 Years:	7%
TTM:	-46%

Stock Price CAGR
10 Years:	10%
5 Years:	8%
3 Years:	7%
1 Year:	20%

Return on Equity
10 Years:	21%
5 Years:	20%
3 Years:	19%
Last Year:	18%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Sep 2023
Equity Capital	128	128	234	480	436	439	442	444	436	437	439	440	441
Reserves	3,923	5,298	8,948	11,768	14,155	15,998	18,401	19,841	21,377	24,428	26,447	27,484	25,971
	1,127	1,380	363	700	1,091	1,366	2,397	1,996	3,670	2,901	2,618	2,740	2,614
	1,758	2,178	6,394	6,899	6,843	8,254	9,192	11,166	11,834	11,836	14,911	15,162	14,465
Total Liabilities	6,935	8,984	15,940	19,848	22,525	26,057	30,431	33,446	37,318	39,602	44,416	45,827	43,491
	682	1,245	2,594	4,033	4,309	6,460	7,622	7,061	8,872	9,018	14,784	14,932	14,384
CWIP	167	34	266	568	629	373	240	276	50	118	165	120	124
Investments	3,588	4,099	1,472	2,103	1,297	2,396	4,841	7,342	5,848	10,238	4,884	3,388	2,749
	2,498	3,607	11,607	13,145	16,289	16,828	17,728	18,766	22,548	20,228	24,583	27,388	26,234
Total Assets	6,935	8,984	15,940	19,848	22,525	26,057	30,431	33,446	37,318	39,602	44,416	45,827	43,491

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
	712	855	1,596	2,448	3,137	4,071	3,554	4,432	4,358	8,094	5,285	5,572
	-420	-622	291	-1,865	-1,453	-2,893	-3,319	-2,104	1,081	-5,433	480	-226
	-317	65	-972	-829	-496	-1,571	-269	-2,251	-4,466	-2,987	-4,667	-5,078
Net Cash Flow	-26	298	915	-246	1,188	-392	-35	77	974	-326	1,098	267

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Debtor Days	88	90	84	84	80	67	77	73	75	87	98	88
Inventory Days
Days Payable
Cash Conversion Cycle	88	90	84	84	80	67	77	73	75	87	98	88
Working Capital Days	45	24	47	64	69	67	53	37	60	42	43	40
ROCE %	18%	19%	45%	32%	27%	23%	24%	25%	22%	23%	26%	22%

Shareholding Pattern

Numbers in percentages

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	35.73%	35.70%	35.67%	35.26%	35.24%	35.21%	35.19%	35.17%	35.15%	35.13%	35.10%	35.08%
	36.15%	35.55%	35.36%	34.27%	30.43%	28.20%	27.95%	26.87%	25.69%	26.22%	24.58%	24.15%
	16.50%	16.90%	17.22%	18.05%	20.73%	23.61%	23.73%	25.68%	26.86%	27.03%	28.91%	29.42%
	0.17%	0.17%	0.17%	0.17%	0.17%	0.17%	0.17%	0.17%	0.17%	0.17%	0.17%	0.17%
	11.44%	11.67%	11.58%	12.25%	13.43%	12.81%	12.93%	12.07%	12.11%	11.44%	11.22%	11.16%
	0.01%	0.01%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
No. of Shareholders	5,45,613	5,90,450	6,09,640	7,31,453	8,89,606	9,73,207	9,92,238	9,36,534	9,29,827	8,85,590	8,67,373	8,48,484

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	36.21%	36.00%	35.87%	35.85%	35.76%	35.26%	35.17%	35.08%
	36.69%	38.99%	38.81%	39.67%	38.32%	34.27%	26.87%	24.15%
	13.13%	12.45%	11.66%	13.20%	14.39%	18.05%	25.68%	29.42%
	0.22%	0.22%	0.17%	0.17%	0.17%	0.17%	0.17%	0.17%
	13.70%	12.30%	13.49%	11.11%	11.36%	12.25%	12.07%	11.16%
	0.06%	0.04%	0.01%	0.01%	0.01%	0.00%	0.00%	0.00%
No. of Shareholders	5,06,079	4,30,963	4,83,774	4,55,664	5,30,921	7,31,453	9,36,534	8,48,484

* 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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Jan 2024
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