TECHM · NSE
Tech Mahindra Limited
₹1,537.1
-1.53% (-₹23.9)
Prev. close
₹1,561
Volume
31,13,722
Delivery %
60.7%
As of
18 Sept 2026
Price history
Analyst sentiment
Analysts lean bullish
6 analyst stances · last 90 days · one per analyst
Trackable
5 · 3 bull / 2 neutral / 0 bear
Long-Horizon
none in window
Commentary
1 · 1 bull / 0 neutral / 0 bear
Trackable = verdict-bearing calls · Long-Horizon = 1yr+ horizon, verdict pending · Commentary = context, not graded
Analyst opinions
| Call | Analyst | Instrument | Verdict | Actions |
|---|---|---|---|---|
| “Bullish on Tech Mahindra with an 'Overweight' stance and a target price of ₹1,680. This positive view comes despite broa…” | JM Financial AnalysisJM Financial Institutional Securities | Tech Mahindra | PENDING | |
| “Upgraded Tech Mahindra to 'Buy' from 'Neutral' and raised its price target to ₹1,865, reflecting valuation consideration…” | UBS AnalysisUBS | Tech Mahindra | PENDING | |
| “Downgraded Tech Mahindra to 'Hold' and reiterated a target price of ₹1,634 (3% upside), citing structural concerns. The …” | CLSA AnalysisCLSA | Tech Mahindra | PENDING | |
| “CLSA has downgraded Tech Mahindra to 'hold' from 'outperform', keeping its price target unchanged. The brokerage believe…” | CLSA AnalysisCLSA | Tech Mahindra | PENDING | |
| “Maintains a 'Neutral' rating on Tech Mahindra, but increased its target price to ₹1,600 from ₹1,400, implying a 6% upsid…” | Nomura AnalysisNomura Global Markets Research | Tech Mahindra | PENDING | |
| “Retained its 'Buy' rating for Tech Mahindra and increased the target price to ₹1,800 from ₹1,750, implying a nearly 16% …” | Nuvama AnalysisNuvama Alternative & Quantitative Research | Tech Mahindra | PENDING |
Market commentary · 2 · levels, conditionals, previews, macro & hedged views — context, not graded
| Call | Analyst | Instrument | Verdict | Actions |
|---|---|---|---|---|
| “Believes Tech Mahindra's FY27 growth visibility has improved, with margins on track. The Q1 performance represents a mat…” | Motilal Oswal AnalysisMotilal Oswal Financial Services | Tech Mahindra | PENDING | |
| “Bullish on Tech Mahindra, expecting it to exceed large-cap peers in growth rates for FY27-28, following an all-round bea…” | Nomura AnalysisNomura Global Markets Research | Tech Mahindra | PENDING |
Fundamentals
About Tech Mahindra Limited
Tech Mahindra Limited provides information technology services and solutions in India, the Americas, Europe, and internationally. The company offers TechM AppGinieZ, a software development lifecycle acceleration platform; Swifter.io, a software engineering platform; ADMSNXT Reforge, an application modernization platform; Autonomous Operations Center, an AI-powered operations platform; and New Age Delivery Platform for DevSecOps and engineering. It also provides LitmusT, a quality engineering and intelligent testing platform; TechM Orion, an agentic AI platform; Ops amplifAler 4.0 for IT operations; Email amplifAler for visualization and automation; SDLC amplifAler solutions; Zone insights solutions for monitoring of object movement; synthetic data generation, freightwatch solutions, cognitive process monitoring, and guardrails framework for AI; VerifAI for scaling AI; and MobiLytix for marketers. In addition, the company offers netOps.ai, an automated cloud platform; AftEAZE solution for warranty and aftermarket problems; AI maturity assessment, generative AI studio, and generative AI performance monitoring; Vision amplifAler, a vision-based solution; Document amplifAler, a digital assistant; and AI-led care, forecasting workbench, AI store, AI adoption, AIOps solution suite, intelligent asset inspection platform, and legal artificial assistant. Further, the company provides business process services, such as consulting CoE and business-process-as-services; Navixus, a digital transformation suite; Cloud and infrastructure services, including enterprise mainframe, FLEX digital workplace, data center services, and CLOUDNXT.NOW, a cloud service; and digital enterprise applications comprising SAP, Oracle, Salesforce, ServiceNow, enterprise digital solutions, digital process solutions, and Emerging Apps. Additionally, it offers engineering, experience, network, and testing services. The company was incorporated in 1986 and is based in Pune, India.
Details
Sector
Technology
Industry
Information Technology Services
CEO
Mr. Mohit Joshi
Headquarters
Pune
Employees
1,46,760
Website
techmahindra.comExchange
View on NSE ↗Key stats
Market cap
₹1.38 L Cr
P/E ratio (TTM)
27.0
Dividend yield
3.27%
EPS (TTM)
₹57.80
Beta (1Y · daily vs NIFTY 50)
0.58
Beta (5Y · monthly vs NIFTY 50)
0.79
Shares float
53.64 Cr
EPS · quarter ended Jun 2026
₹16.50
Upcoming earnings
14 Oct 2026
Financial Performance
01 · Financials
FY21 growth needs FY20 filings, which the data source doesn't provide.
02 · Earnings Per Share (EPS)
03 · Dividend Profile
Growth compares completed fiscal-year dividend totals on the company's own calendar: April–March (Indian FY), taken from its reported period-ends. Payout ledger: NSE corporate actions.
04 · Operating Efficiency (Growth Rates)
Balance-sheet-based · pre-FY23 not filed in verifiable form
05 · Capital Structure & Asset Utilization
Pre-FY23 not filed in verifiable form
Asset turnover needs a prior year of assets — omitted for the earliest available year.
06 · Asset Base Composition
Pre-FY23 not filed in verifiable form
07 · Debt Level & Coverage
Pre-FY23 not filed in verifiable form
08 · Profit & Loss
Annual
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| ₹37,855.10 Cr | ₹44,645.98 Cr | ₹53,290.19 Cr | ₹51,995.46 Cr | ₹52,988.30 Cr | ₹56,815.40 Cr | |
| EBITDA | ₹7,584.60 Cr | ₹9,135.08 Cr | ₹8,727.76 Cr | ₹5,433.67 Cr | ₹7,827.80 Cr | ₹8,792.10 Cr |
| ₹4,428.00 Cr | ₹5,566.08 Cr | ₹4,831.30 Cr | ₹2,357.77 Cr | ₹4,251.50 Cr | ₹4,810.90 Cr | |
| Diluted EPS | ₹50.19 | ₹62.81 | ₹54.54 | ₹26.58 | ₹47.91 | ₹54.19 |
09 · Balance Sheet
Annual
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| — | ₹44,870.70 Cr | ₹46,153.30 Cr | ₹43,423.60 Cr | ₹44,494.50 Cr | ₹49,369.40 Cr | |
| — | ₹2,618.40 Cr | ₹2,740.20 Cr | ₹2,536.70 Cr | ₹2,025.20 Cr | ₹2,186.20 Cr | |
| Stockholders' equity | — | ₹26,885.70 Cr | ₹27,924.50 Cr | ₹26,669.40 Cr | ₹27,361.50 Cr | ₹29,615.40 Cr |
Total assets, Current assets, Inventory, Receivables (trade + unbilled), Trade receivables, Unbilled receivables (contract assets), Cash & equivalents, Non-current assets, Fixed assets, CWIP, Others, Total debt, Long-term debt, Current (short-term) debt, Stockholders' equity have filed figures for only some of the years shown — no further verified source covers the rest, so those years are left blank rather than estimated.
Annual only — the data source doesn’t publish quarterly balance-sheet detail for most NSE-listed companies.
10 · Cash Flow Statement
Annual
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| ₹8,093.80 Cr | ₹5,285.37 Cr | ₹5,571.96 Cr | ₹6,376.37 Cr | ₹5,785.65 Cr | ₹6,172.00 Cr | |
| Investing cash flow | ₹-5,450.10 Cr | ₹481.50 Cr | ₹-278.47 Cr | ₹-1,313.70 Cr | ₹-23.20 Cr | ₹-409.20 Cr |
| ₹-2,986.90 Cr | ₹-4,666.58 Cr | ₹-5,078.09 Cr | ₹-4,767.19 Cr | ₹-5,799.22 Cr | ₹-5,130.50 Cr | |
| Capital expenditure | ₹-666.00 Cr | ₹-958.40 Cr | ₹-1,015.17 Cr | ₹-791.10 Cr | ₹-593.50 Cr | ₹-695.70 Cr |
| End cash position | ₹2,690.40 Cr | ₹3,788.90 Cr | ₹4,056.30 Cr | ₹4,347.08 Cr | ₹4,318.43 Cr | ₹5,046.10 Cr |
Debt issued, Debt repaid have filed figures for only some of the years shown — no further verified source covers the rest, so those years are left blank rather than estimated.
Annual only — the data source has no quarterly cash-flow-statement coverage.
11 · Shareholding Pattern
NSE, quarterly
| Line item | Sep 21 | Dec 21 | Mar 22 | Jun 22 | Sep 22 | Dec 22 | Mar 23 | Jun 23 | Sep 23 | Dec 23 | Mar 24 | Jun 24 | Sep 24 | Dec 24–Mar 25(2Q) | Jun 25 | Sep 25–Dec 25(2Q) | Mar 26–Jun 26(2Q) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 35.70% | 35.67% | 35.26% | 35.24% | 35.22% | 35.19% | 35.18% | 35.16% | 35.13% | 35.11% | 35.09% | 35.05% | 35.03% | 35.01% | 35.00% | 34.98% | 34.97% |
| Public | 64.29% | 64.32% | 64.74% | 64.76% | 64.78% | 64.81% | 64.82% | 64.84% | 64.87% | 64.89% | 64.91% | 64.95% | 64.97% | 64.99% | 65.00% | 65.02% | 65.03% |
| Employee trusts | 0.01% | 0.01% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Source: NSE quarterly shareholding-pattern filings, collapsed to periods where the reported percentages held steady — a column spanning several quarters means no change was filed across them. No FII/DII sub-split available from this source — Public includes all non-promoter, non-employee-trust holders.
12 · Peer Comparison
Technology
| Company | ||||||||
|---|---|---|---|---|---|---|---|---|
| Tata Consultancy Services Limited | ₹7.92 L Cr | ₹2,105 | 15.9 | 7.39 | 45.9% | 0.11 | +4.6% | -33.7% |
| Infosys Limited | ₹4.20 L Cr | ₹1,037.7 | 13.5 | — | 33.9% | 0.10 | +4.6% | -31.2% |
| HCL Technologies Limited | ₹3.40 L Cr | ₹1,249.3 | 19.5 | 4.53 | 22.1% | 0.07 | +11.2% | -16.4% |
| Wipro Limited | ₹1.65 L Cr | ₹166.4 | 13.5 | 1.86 | 14.9% | 0.23 | +4.0% | -34.5% |
| Tech Mahindra Limited | ₹1.38 L Cr | ₹1,537.1 | 27.0 | 4.67 | 16.2% | 0.07 | +7.2% | -0.9% |
| LTM Limited | ₹1.26 L Cr | ₹4,275.1 | 24.2 | 5.26 | 20.9% | 0.10 | +11.3% | — |
| One 97 Communications Limited | ₹1.13 L Cr | ₹1,849.9 | 175.9 | 7.05 | 3.5% | 0.01 | +21.5% | +50.5% |
| LG Electronics India Limited | ₹1.11 L Cr | ₹1,652.9 | 60.6 | 14.42 | 22.0% | 0.06 | +1.3% | — |
| Oracle Financial Services Software Limited | ₹1.01 L Cr | ₹11,896 | 29.7 | 12.93 | 33.7% | 0.00 | +12.1% | +29.7% |
| Persistent Systems Limited | ₹85,505.25 Cr | ₹5,416 | 44.7 | 10.91 | 23.8% | 0.06 | +23.5% | -2.7% |
| Dixon Technologies (India) Limited | ₹80,805.72 Cr | ₹13,005 | 43.3 | 17.28 | 30.8% | 0.21 | +25.8% | -29.1% |
| Coforge Limited | ₹79,425.97 Cr | ₹1,841 | 36.8 | 8.33 | 16.3% | 0.08 | +35.8% | +0.9% |
Ranked by market cap within Technology, same metrics as the Fundamentals screener. Click a column to sort.
Documents
IPO documents
Annual reports
Show all 21
Concall transcripts
Show all 12
Official documents linked from their sources — offer documents as filed with SEBI (sebi.gov.in), annual reports and earnings-call transcripts as published on BSE (bseindia.com) and NSE (nseindia.com). Links open the source's own hosting; nothing is re-hosted here.
Index membership
59 indices
NSE weights are a free-float market-cap-share estimate, not NSE’s own published (and sometimes capped) index weight. BSE weights are BSE’s own published index weight, not an estimate. Indices without weight data are listed without one, in alphabetical order after the weighted ones.