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: 65,204 Cr.
  • Current Price: 674.80
  • 52 weeks High / Low 845.90 / 470.25
  • Book Value: 225.74
  • Stock P/E: 16.12
  • Dividend Yield: 2.22 %
  • ROCE: 22.35 %
  • ROE: 19.13 %
  • Sales Growth (3Yrs): 8.16 %
  • 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 31.29%
Cons:
The company has delivered a poor growth of 10.26% over past five years.

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

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Quarterly Results Consolidated Figures in Rs. Crores / View Standalone

Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020
7,606 7,776 8,054 8,276 8,630 8,944 8,892 8,653 9,070 9,655 9,490 9,106
6,501 6,511 6,643 6,931 7,024 7,234 7,281 7,347 7,569 8,091 8,360 7,806
Operating Profit 1,106 1,265 1,412 1,345 1,605 1,709 1,612 1,306 1,501 1,563 1,130 1,300
OPM % 15% 16% 18% 16% 19% 19% 18% 15% 17% 16% 12% 14%
Other Income 322 225 451 111 175 81 167 341 217 350 287 416
Interest 39 34 53 30 39 36 28 45 38 55 53 50
Depreciation 265 274 299 281 294 284 270 321 342 385 398 383
Profit before tax 1,124 1,181 1,512 1,145 1,447 1,471 1,480 1,281 1,338 1,474 966 1,283
Tax % 25% 22% 19% 21% 27% 18% 24% 26% 17% 25% 25% 26%
Net Profit 836 943 1,231 898 1,064 1,203 1,132 959 1,124 1,146 804 972
EPS in Rs 9.52 10.73 13.84 10.12 11.99 13.55 12.77 10.98 12.88 13.13 9.21 11.13
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

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

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
4,465 4,625 5,140 5,490 6,873 18,802 22,621 26,494 29,141 30,773 34,742 36,868 37,321
3,246 3,495 3,721 4,572 5,451 14,619 18,428 22,224 24,956 26,063 28,471 31,365 31,826
Operating Profit 1,218 1,131 1,419 918 1,422 4,184 4,193 4,271 4,184 4,710 6,271 5,503 5,495
OPM % 27% 24% 28% 17% 21% 22% 19% 16% 14% 15% 18% 15% 15%
Other Income 26 69 -298 30 -141 233 106 442 775 1,417 534 1,192 1,270
Interest 2 218 100 103 103 80 69 97 129 162 133 192 197
Depreciation 110 134 144 161 200 522 611 759 978 1,085 1,129 1,446 1,508
Profit before tax 1,132 847 877 685 978 3,815 3,618 3,857 3,853 4,879 5,543 5,058 5,060
Tax % 10% 17% 15% 21% 24% 20% 27% 22% 26% 22% 23% 23%
Net Profit 1,014 700 644 1,096 1,288 3,029 2,628 2,993 2,813 3,800 4,298 4,033 4,046
EPS in Rs 20.67 14.17 12.62 21.32 24.92 31.58 26.09 34.36 32.05 43.01 48.43 46.26 46.35
Dividend Payout % 5% 6% 8% 5% 5% 15% 22% 35% 28% 33% 29% 32%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:23.07%
5 Years:10.26%
3 Years:8.16%
TTM:6.27%
Compounded Profit Growth
10 Years:19.02%
5 Years:8.91%
3 Years:12.87%
TTM:-7.18%
Stock Price CAGR
10 Years:14.26%
5 Years:3.98%
3 Years:18.77%
1 Year:5.58%
Return on Equity
10 Years:22.93%
5 Years:20.35%
3 Years:20.53%
Last Year:19.13%

Balance Sheet Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
122 122 126 128 128 234 480 436 439 442 444 436
Reserves 1,821 2,764 3,225 3,923 5,297 8,947 11,768 14,154 15,996 18,399 19,839 21,376
Borrowings 0 2,135 1,806 1,127 1,380 363 700 1,091 1,366 2,397 1,996 2,817
900 881 887 1,758 2,179 6,396 6,899 6,844 8,256 9,194 11,168 12,689
Total Liabilities 2,843 5,902 6,045 6,935 8,984 15,940 19,848 22,525 26,057 30,431 33,446 37,318
498 604 617 682 1,245 2,594 4,033 4,309 6,460 7,622 7,061 8,872
CWIP 154 119 110 167 34 266 568 629 373 240 276 50
Investments 435 3,014 2,908 3,588 4,099 1,472 2,103 1,297 2,396 4,841 7,342 5,848
1,757 2,164 2,409 2,498 3,607 11,607 13,145 16,289 16,828 17,728 18,766 22,548
Total Assets 2,843 5,902 6,045 6,935 8,984 15,940 19,848 22,525 26,057 30,431 33,446 37,318

Cash Flows Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
1,222 1,450 464 712 855 1,596 2,448 3,137 4,071 3,554 4,432 4,358
-614 -2,986 -133 -420 -622 291 -1,865 -1,453 -2,893 -3,319 -2,104 1,081
-164 1,222 -287 -317 65 -972 -829 -496 -1,571 -269 -2,251 -4,466
Net Cash Flow 444 -314 44 -26 298 915 -246 1,188 -392 -35 77 974

Ratios Consolidated Figures in Rs. Crores / View Standalone

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 % 71% 31% 27% 17% 19% 46% 33% 28% 24% 25% 26% 22%
Debtor Days 74 82 89 88 90 84 84 80 67 77 73 75
Inventory Turnover 24.60 33.56 52.40 188.00 12.80 14.31 8.80 5.21 3.71 3.07 2.82 3.70

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