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]
Price from Yahoo Finance, delayed · Fundamentals as reportedData as published. No model runs on this page.
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Automated flags from the reported numbers. Context, not a call.
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 13,159 | 12,864 | 13,101 | 12,871 | 13,006 | 13,313 | 13,286 | 13,384 | 13,351 | 13,995 | 14,393 |
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The business narrative, written down and turned into explicit assumptions.
A valuation from those assumptions, under bull, base and bear cases.
Where today's price sits relative to that range.
| 15,076 |
| 15,712 |
| Expenses + | 11,821 | 11,950 | 11,955 | 11,772 | 11,441 | 11,563 | 11,477 | 11,545 | 11,416 | 11,830 | 12,028 | 12,511 | 12,974 |
| Operating Profit | 1,338 | 914 | 1,146 | 1,099 | 1,564 | 1,750 | 1,809 | 1,839 | 1,935 | 2,165 | 2,366 | 2,565 | 2,738 |
| OPM % | 10% | 7% | 9% | 9% | 12% | 13% | 14% | 14% | 14% | 15% | 16% | 17% | 17% |
| Other Income + | 200 | 264 | 92 | 380 | 147 | 522 | 23 | 173 | 219 | 40 | -293 | -205 | -106 |
| Interest | 120 | 98 | 116 | 58 | 72 | 89 | 76 | 85 | 78 | 77 | 94 | 89 | 111 |
| Depreciation | 447 | 466 | 443 | 461 | 462 | 470 | 459 | 462 | 458 | 469 | 474 | 481 | 479 |
| Profit before tax | 971 | 615 | 679 | 959 | 1,178 | 1,714 | 1,297 | 1,464 | 1,618 | 1,659 | 1,505 | 1,791 | 2,042 |
| Tax % | 28% | 18% | 23% | 31% | 27% | 27% | 24% | 22% | 30% | 28% | 26% | 24% | 27% |
| Net Profit + | 704 | 505 | 524 | 664 | 865 | 1,258 | 989 | 1,142 | 1,129 | 1,202 | 1,119 | 1,356 | 1,486 |
| EPS in Rs | 7.10 | 5.06 | 5.23 | 6.77 | 8.71 | 12.78 | 10.05 | 11.92 | 11.65 | 12.19 | 11.45 | 13.82 | 14.95 |
| Raw PDF |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 22,621 | 26,494 | 29,141 | 30,773 | 34,742 | 36,868 | 37,855 | 44,646 | 53,290 | 51,996 | 52,988 | 56,815 | 59,176 |
| Expenses + | 18,428 | 22,234 | 24,956 | 26,063 | 28,471 | 31,365 | 31,059 | 36,626 | 45,527 | 47,489 | 46,024 | 47,783 | 49,342 |
| 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 | 9,834 |
| OPM % | 19% | 16% | 14% | 15% | 18% | 15% | 18% | 18% | 15% | 9% | 13% | 16% | 17% |
| Other Income + | 106 | 453 | 775 | 1,417 | 534 | 1,192 | 788 | 1,115 | 965 | 927 | 864 | -240 | -564 |
| Interest | 69 | 97 | 129 | 162 | 133 | 192 | 174 | 163 | 326 | 392 | 322 | 337 | 371 |
| Depreciation | 611 | 759 | 978 | 1,085 | 1,129 | 1,446 | 1,458 | 1,520 | 1,957 | 1,817 | 1,853 | 1,882 | 1,902 |
| 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 | 6,997 |
| Tax % | 27% | 22% | 26% | 22% | 23% | 23% | 27% | 24% | 25% | 26% | 25% | 27% | |
| Net Profit + | 2,659 | 3,027 | 2,851 | 3,786 | 4,289 | 3,897 | 4,353 | 5,630 | 4,857 | 2,397 | 4,253 | 4,806 | 5,163 |
| 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 | 52.41 |
| Dividend Payout % | 22% | 35% | 28% | 33% | 29% | 32% | 89% | 47% | 91% | 150% | 94% | 94% |
| 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 |
| Borrowings + | 700 | 1,091 | 1,366 | 2,397 | 1,996 | 3,670 | 2,901 | 2,618 | 2,740 | 2,537 | 2,025 | 2,186 |
| Other Liabilities + | 6,899 | 6,843 | 8,254 | 9,192 | 11,166 | 11,834 | 11,836 | 14,911 | 15,162 | 13,943 | 14,880 | 17,366 |
| Total Liabilities | 19,848 | 22,525 | 26,057 | 30,431 | 33,446 | 37,318 | 39,602 | 44,416 | 45,827 | 43,149 | 44,267 | 49,168 |
| Fixed Assets + | 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 |
| Other Assets + | 13,145 | 16,289 | 16,828 | 17,728 | 18,766 | 22,548 | 20,228 | 24,583 | 27,388 | 25,875 | 27,082 | 30,851 |
| Total Assets | 19,848 | 22,525 | 26,057 | 30,431 | 33,446 | 37,318 | 39,602 | 44,416 | 45,827 | 43,149 | 44,267 | 49,168 |