Tech Mahindra Limited
NSE: TECHM · Computers - Software & Consulting · sector
₹1,795.00NSE close 2026-10-26
Key numbers
Market cap₹1,59,037 cr
Price₹1,795.00
52w high / low₹1,854 / ₹1,304
P/E28.8xSector median 17.5x
P/B5.4xSector median 2.7x
Book value₹334.9
Dividend yield2.53%Sector median 1.66%
ROE16.1%Sector median 14.4%
ROCE25.2%Sector median 15.3%
OPM16.8%Sector median 16.9%
Debt / equity0.07xSector median 0.04x
EV/EBITDA15.0xSector median 13.2x
Interest cover21.2x
Current ratio1.80x
Sales growth 3y+2.2%Sector median +10.8%
Profit growth 3y-0.1%Sector median +14.9%
PEG–
Last 12 months to Sep 2026, Consolidated. "Sector median" = middle value of 80 companies in Computers - Software & Consulting (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹8,441 cr vs borrowings ₹2,186 cr (FY26): cash is higher (net cash).
- Operating profit covered interest 21.2x in the last 12 months.
- No promoter shares are pledged.
- Operating cash flow was below net profit in 1 of the last 5 years (FY22).
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was -7% of net profit in the last 12 months.
- Dividend paid in 5 of the last 5 financial years.
- Price ₹1,795.00 on 2026-10-26: -3.2% from the 52-week high, +37.6% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹1,795.00 · low ₹1,272.75
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 13,286 | 13,384 | 13,351 | 13,995 | 14,393 | 15,076 | 15,712 | 16,180 |
| EBITDA | 1,816 | 1,839 | 1,935 | 2,165 | 2,093 | 2,565 | 2,742 | 2,878 |
| OPM % | 13.7% | 13.7% | 14.5% | 15.5% | 14.5% | 17.0% | 17.5% | 17.8% |
| Other income | 16 | 173 | 218 | 40 | -22 | -205 | -106 | -7 |
| Net profit | 989 | 203 | 1,141 | 1,194 | 199 | 1,354 | 1,465 | 1,586 |
| EPS (₹) | 11.10 | 13.17 | 12.87 | 13.48 | 12.66 | 15.27 | 16.53 | 17.88 |
| Revenue YoY | +8.3% | +12.6% | +17.7% | +15.6% | ||||
| Profit YoY | -79.9% | +568.2% | +28.4% | +32.7% |
Consolidated figures where filed. Latest quarter Sep 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 44,646 | 53,290 | 51,995 | 52,988 | 56,815 | 61,361 |
| EBITDA | 8,023 | 7,763 | 4,517 | 6,972 | 8,760 | 10,279 |
| Net profit | 5,566 | 4,831 | 2,358 | 241 | 4,811 | 4,603 |
| EPS (₹) | 63.32 | 54.76 | 26.66 | 48.00 | 54.28 | 62.34 |
| Revenue growth | +19.4% | -2.4% | +1.9% | +7.2% | +13.6% | |
| Profit growth | -13.2% | -51.2% | -89.8% | +1,895.4% | +30.5% | |
| Dividend / share (₹) | 30.00 | 33.00 | 44.00 | 43.00 | 45.00 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +2.2% | +8.5% | +13.6% |
| Net profit | -0.1% | +1.7% | +30.5% |
| EPS | -0.3% | +1.4% | – |
| Share price | – | +3.8% (2y) | +26.6% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 27,924 | 26,669 | 27,362 | 29,615 |
| Borrowings | – | 1,578 | 1,531 | 2,025 | 2,186 |
| Cash & equivalents | – | 7,038 | 7,515 | 7,435 | 8,441 |
| Total assets | – | 46,153 | 43,424 | 44,494 | 49,369 |
| Fixed assets | – | 2,862 | 2,558 | 2,380 | 2,426 |
| Capital work in progress | – | 84 | 101 | 21 | 27 |
| Investments | – | 432 | 412 | 235 | 35 |
| Receivables | – | 12,882 | 11,401 | 11,547 | 13,358 |
| Inventory | – | 24 | 38 | 39 | 104 |
| Payables | – | 4,385 | 4,120 | 4,411 | 5,040 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 5,285 | 5,572 | 6,376 | 5,786 | 6,172 |
| Cash from investing | 482 | -278 | -1,314 | -23 | -409 |
| Cash from financing | -4,667 | -5,078 | -4,767 | -5,799 | -5,130 |
| Capex | 958 | 1,015 | 791 | 594 | 696 |
| Free cash flow | 4,327 | 4,557 | 5,585 | 5,192 | 5,476 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 17.3% | 8.8% | 0.9% | 16.2% |
| ROCE % | – | 23.0% | 12.8% | 20.3% | 21.7% |
| Debtor days | – | 88 | 80 | 80 | 86 |
| Inventory days | – | 0 | 0 | 0 | 1 |
| Payable days | – | 30 | 29 | 30 | 32 |
| Cash conversion cycle (days) | – | 58 | 51 | 50 | 55 |
| Working capital days | – | 68 | 67 | 76 | 84 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 34.96% |
| FIIs | 20.77% |
| DIIs | 35.68% |
| of which Mutual funds | 19.35% |
| of which Insurance | 13.25% |
| Government | 0.17% |
| Public (non-institutions) | 8.42% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 35.01% | 35.01% | 35.00% | 34.98% | 34.98% | 34.97% | 34.97% | 34.96% |
| Promoter group | % |
|---|---|
| Mahindra & Mahindra Limited | 25.30% |
| TML Benefit Trust through Puneet Renjhen | 9.61% |
| Mahindra Holdings Ltd | 0.02% |
| Mahindra-Bt Investment Company (Mauritius) Limited | 0.02% |
| 2 x 2 Logistics Private Limited | 0.00% |
| Anthurium Developers Limited | 0.00% |
| Blue Planet Integrated Waste Solutions Private Limited | 0.00% |
| Bristlecone India Private Limited (formerly know as Bristlecone India Limited) | 0.00% |
| Carnot Technologies Private Limited | 0.00% |
| Classic Legends Private Limited | 0.00% |
| Deep Mangal Developers Private Ltd | 0.00% |
| Furies Solren Private Limited | 0.00% |
| Gables Promoters Private Limited | 0.00% |
| Gelos Solren Private Limited | 0.00% |
| Gromax Agri Equipment Limited (Formerly known as Mahindra Gujarat Tractor Limited) | 0.00% |
| Public holders above 1% | % |
|---|---|
| Life Insurance Corporation Of India | 9.86% |
| Sbi Nifty 50 Etf | 5.03% |
| Icici Prudential Technology Fund | 2.50% |
| Nps Trust- A/C Sbi Pension Fund Scheme - State Govt | 2.15% |
| Kotak Flexicap Fund | 1.77% |
| Aditya Birla Sun Life Mutual Fund - Aditya Birla Sun Life Flexi Cap Fund | 1.59% |
| Uti Nifty 50 Etf | 1.43% |
| Nippon Life India Trustee Ltd-A/C Nippon India Etf Nifty 50 Bees | 1.39% |
7,18,233 shareholders. Pledged: 0.00% of promoter shares.
Peers in Computers - Software & Consulting
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| TCS | ₹9,17,670 cr | 17.8x | 7.7x | 45.8% | 59.1% | 25.0% | +5.8% | 4.31% |
| INFY | ₹4,72,230 cr | 15.7x | 5.1x | 32.1% | 44.9% | 23.0% | +6.8% | 3.95% |
| HCLTECH | ₹3,84,716 cr | 20.9x | 5.0x | 24.9% | 31.9% | 19.9% | +8.7% | 3.80% |
| WIPRO | ₹1,87,403 cr | 14.8x | 2.4x | 16.0% | 19.6% | 19.3% | +0.8% | 6.18% |
| TECHM | ₹1,59,037 cr | 28.8x | 5.4x | 16.1% | 25.2% | 16.8% | +2.2% | 2.53% |
| LTM | ₹1,20,617 cr | 23.1x | 4.7x | 21.2% | 28.2% | 16.7% | +8.4% | 1.66% |
| PERSISTENT | ₹92,284 cr | 50.8x | 10.7x | 22.9% | 28.2% | 16.3% | +20.9% | 0.63% |
| COFORGE | ₹66,873 cr | 40.5x | 7.0x | 21.6% | 24.9% | 17.3% | +27.0% | 0.81% |
| MPHASIS | ₹48,819 cr | 25.5x | 4.5x | 18.8% | 22.3% | 18.4% | +4.8% | 2.23% |
| HEXT | ₹36,152 cr | 26.9x | 5.4x | 21.5% | 27.6% | 14.2% | – | – |
Business segments (FY26)
| Segment | Revenue | Share | EBIT | Margin |
|---|---|---|---|---|
| IT | ₹47,767 cr | 84.1% | ₹9,517 cr | 19.9% |
| BPS | ₹9,048 cr | 15.9% | ₹1,499 cr | 16.6% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-10-23 | Dividend | Interim Dividend - Rs 15 Per Share |
| 2026-07-03 | Dividend | Dividend - Rs 36 Per Share |
| 2025-10-20 | Dividend | Interim Dividend - Rs 15 Per Share |
| 2025-07-04 | Dividend | Dividend - Rs 30 Per Share |
| 2024-10-31 | Dividend | Interim Dividend - Rs 15 Per Share |
| 2024-07-19 | Dividend | Annual General Meeting/Dividend - Rs 28 Per Share |
| 2023-11-02 | Dividend | Interim Dividend - Rs 12 Per Share |
| 2023-07-21 | Dividend | Annual General Meeting/Dividend - Rs 32 Per Share |
| 2022-11-09 | Dividend | Special Dividend - Rs 18 Per Share |
| 2022-07-21 | Dividend | Annual General Meeting/Special Dividend - Rs 15 Per Share/Dividend - Rs 15 Per Share |
| 2021-11-02 | Dividend | Special Dividend - Rs 15 Per Share |
| 2021-07-23 | Dividend | Annual General Meeting/Dividend - Rs 15 Per Share Special Dividend 15 Per Share |
| 2020-10-29 | Dividend | Special Dividend - Rs 15 Per Share |
| 2020-07-23 | Dividend | Annual General Meeting/Dividend - Rs 5 Per Share |
| 2020-03-02 | Dividend | Interim Dividend - Rs 10 Per Share |
| 2019-07-25 | Dividend | Annual General Meeting/Dividend Rs 14 Per Share |
| 2019-03-05 | Buyback | Buy Back |
| 2018-07-26 | Dividend | Annual General Meeting/Dividend- Rs 14 Per Share |
| 2017-07-27 | Dividend | Annual General Meeting/ Dividend -Rs 9/- Per Share |
| 2016-07-28 | Dividend | Annual General Meeting/Final Dividend Rs 6/- Per Share And Special Dividend Rs 6/- Per Share |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Information Technology – Software and Services: IT consulting, Software application development and maintenance
| Sector | Information Technology |
| Industry | Computers - Software & Consulting |
| Sub-industry | Computers - Software & Consulting |
| Symbol | TECHM |
| BSE code | 532755 |
| ISIN | INE669C01036 |
| Face value | ₹5.0 |
| Incorporated | 1986-10-24 |
| Website | www.techmahindra.com |
| Plants (India / abroad) | 0 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-22 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.