Tech Mahindra Limited Share Price & Analysis
Price Chart
Fundamentals
Strengths
- ✓Strong return on equity (ROE 17.6%)
- ✓Efficient capital deployment (ROCE 23.1%)
- ✓Virtually debt-free
- ✓Regular dividends — yield 3.3%
Peer Comparison
| Company | CMP | Mkt Cap | P/E | P/B | ROE % | ROCE % | D/E |
|---|---|---|---|---|---|---|---|
| TCS Tata Consultancy Services Limited | ₹2,196 | ₹8.9L Cr | 16.9 | 7.42 | 51.8 | 63 | 0.11 |
| INFY Infosys Limited | ₹1,199 | ₹5.2L Cr | 17.1 | 5.24 | 31.9 | 40 | 0.1 |
| HCLTECH HCL Technologies Limited | ₹1,155 | ₹3.4L Cr | 19.4 | 4.17 | 24 | 30.6 | 0.07 |
| WIPRO Wipro Limited | ₹198 | ₹2.2L Cr | 16.7 | 2.36 | 15.5 | 17.9 | 0.23 |
| LTM LTM Limited | ₹4,026 | ₹1.3L Cr | 23.8 | 4.97 | 23.1 | 29.6 | 0.1 |
| OFSS Oracle Financial Services Software Limited | ₹9,969 | ₹90K Cr | 34.1 | 11.09 | 32.6 | 45.3 | 0 |
| PERSISTENT Persistent Systems Limited | ₹5,023 | ₹86K Cr | 44.7 | 10.11 | 27.3 | 34.4 | 0.06 |
Showing 7 peers in the same sector · Sorted by market cap
Shareholding Pattern
TECHM · as of Mar 2026
| Category | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Promoters | 35.10% | 35.08% | 35.04% | 35.02% | 35.01% | 35.00% |
| FII | 24.58% | 24.15% | 23.27% | 23.67% | 24.19% | 22.95% |
| DII | 28.91% | 29.42% | 30.66% | 30.90% | 30.73% | 32.13% |
| Public | 11.22% | 11.16% | 10.84% | 10.23% | 9.88% | 9.74% |
| Govt | 0.17% | 0.17% | 0.17% | 0.17% | 0.17% | 0.17% |
Corporate Events
Dividend - Rs 36 Per Share
Interim Dividend - Rs 15 Per Share
Record: 20 Oct 2025
Dividend - Rs 30 Per Share
Interim Dividend - Rs 15 Per Share
Record: 31 Oct 2024
Annual General Meeting/Dividend - Rs 28 Per Share
Interim Dividend - Rs 12 Per Share
Annual General Meeting/Dividend - Rs 32 Per Share
Latest News
All news →IT majors Q2 results reveal mixed hiring, layoff trends
*IT majors Q2 results reveal mixed hiring and layoff trends.* HCL, TCS, Infosys, Wipro, and Tech Mahindra Q2 earnings reflect divergent employment strategies across the sector. Results highlight ongoing workforce optimization amid macroeconomic headwinds. Monitor these **5 IT stocks** for hiring trajectory shifts impacting future margin expansion. 📊 *STOCKS:* $HCLTECH | $TCS | $INFY | $WIPRO | $TECHM | 🏢 *SECTOR:* IT | #MEDIUMIMPACT #Earnings
AI adoption reshapes IT hiring outlook; major vendors cautious FY25
*AI Push Reshapes IT Hiring As Jobs Turn Cautious in FY25.* Major IT services firms—**TCS, Infosys, HCLTech, Wipro, and Tech Mahindra**—are moderating hiring plans as artificial intelligence adoption accelerates across the sector. The shift signals cautious FY25 outlook despite AI revenue opportunities, impacting fresher intake and headcount growth expectations. 📊 *STOCKS:* $TCS | $INFY | $HCLTECH | $WIPRO | $TECHM | 🏢 *SECTOR:* IT | #MEDIUMIMPACT #AI #Hiring
IT majors report muted FY26 hiring; workforce shrinks 7,389
*TCS, Infosys, HCLTech, Wipro, and Tech M report muted hiring for FY26 with overall workforce shrinking by **7,389** employees.* This indicates cautious talent strategy amid demand uncertainty in the IT services sector. The muted hiring reflects slower growth expectations and potential client spending constraints. Traders should monitor Q4 FY25 results for revenue guidance and margin trends. 📊 *STOCKS:* $TCS | $INFOSYS | $HCLTECH | $WIPRO | $TECHM | 🏢 *SECTOR:* IT | #MEDIUMIMPACT #hiring
Financials
Quarterly Results
| Metric | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | ₹15.1K Cr ▲4.7% | ₹14.4K Cr ▲2.8% | ₹14.0K Cr ▲4.8% | ₹13.4K Cr ▼0.2% | ₹13.4K Cr ▲0.7% | ₹13.3K Cr ▼0.2% | ₹13.3K Cr ▲2.4% | ₹13.0K Cr |
| Op. Profit | ₹2.6K Cr ▲8.4% | ₹2.4K Cr ▲9.3% | ₹2.2K Cr ▲11.9% | ₹1.9K Cr ▲5.2% | ₹1.8K Cr ▲1.7% | ₹1.8K Cr ▲3.4% | ₹1.8K Cr ▲11.9% | ₹1.6K Cr |
| OPM | 17.0% ▲6.3% | 16.0% ▲6.7% | 15.0% ▲7.1% | 14.0% ▲0.0% | 14.0% ▲0.0% | 14.0% ▲7.7% | 13.0% ▲8.3% | 12.0% |
| Net Profit | ₹1.4K Cr ▲21.2% | ₹1.1K Cr ▼6.9% | ₹1.2K Cr ▲6.5% | ₹1.1K Cr ▼1.1% | ₹1.1K Cr ▲15.5% | ₹989 Cr ▼21.4% | ₹1.3K Cr ▲45.4% | ₹865 Cr |
| EPS (₹) | 13.82 ▲20.7% | 11.45 ▼6.1% | 12.19 ▲4.6% | 11.65 ▼2.3% | 11.92 ▲18.6% | 10.05 ▼21.4% | 12.78 ▲46.7% | 8.71 |
Values in ₹ Cr · Source: Screener.in
Annual Profit & Loss
| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹56.8K Cr ▲7.2% | ₹53.0K Cr ▲1.9% | ₹52.0K Cr ▼2.4% | ₹53.3K Cr ▲19.4% | ₹44.6K Cr ▲17.9% | ₹37.9K Cr ▲2.7% | ₹36.9K Cr ▲6.1% | ₹34.7K Cr ▲12.9% | ₹30.8K Cr ▲5.6% | ₹29.1K Cr |
| Expenses | ₹47.8K Cr ▲3.8% | ₹46.0K Cr ▼3.1% | ₹47.5K Cr ▲4.3% | ₹45.5K Cr ▲24.3% | ₹36.6K Cr ▲17.9% | ₹31.1K Cr ▼1.0% | ₹31.4K Cr ▲10.2% | ₹28.5K Cr ▲9.2% | ₹26.1K Cr ▲4.4% | ₹25.0K Cr |
| Op. Profit | ₹9.0K Cr ▲29.7% | ₹7.0K Cr ▲54.5% | ₹4.5K Cr ▼42.0% | ₹7.8K Cr ▼3.2% | ₹8.0K Cr ▲18.0% | ₹6.8K Cr ▲23.5% | ₹5.5K Cr ▼12.2% | ₹6.3K Cr ▲33.1% | ₹4.7K Cr ▲12.6% | ₹4.2K Cr |
| OPM | 16.0% ▲23.1% | 13.0% ▲44.4% | 9.0% ▼40.0% | 15.0% ▼16.7% | 18.0% ▲0.0% | 18.0% ▲20.0% | 15.0% ▼16.7% | 18.0% ▲20.0% | 15.0% ▲7.1% | 14.0% |
| Other Income | ₹-240 Cr ▼127.8% | ₹864 Cr ▼6.8% | ₹927 Cr ▼3.9% | ₹965 Cr ▼13.5% | ₹1.1K Cr ▲41.5% | ₹788 Cr ▼33.9% | ₹1.2K Cr ▲123.2% | ₹534 Cr ▼62.3% | ₹1.4K Cr ▲82.8% | ₹775 Cr |
| Interest | ₹337 Cr ▲4.7% | ₹322 Cr ▼17.9% | ₹392 Cr ▲20.2% | ₹326 Cr ▲100.0% | ₹163 Cr ▼6.3% | ₹174 Cr ▼9.4% | ₹192 Cr ▲44.4% | ₹133 Cr ▼17.9% | ₹162 Cr ▲25.6% | ₹129 Cr |
| Depreciation | ₹1.9K Cr ▲1.6% | ₹1.9K Cr ▲2.0% | ₹1.8K Cr ▼7.2% | ₹2.0K Cr ▲28.7% | ₹1.5K Cr ▲4.3% | ₹1.5K Cr ▲0.8% | ₹1.4K Cr ▲28.1% | ₹1.1K Cr ▲4.1% | ₹1.1K Cr ▲10.9% | ₹978 Cr |
| PBT | ₹6.6K Cr ▲16.3% | ₹5.7K Cr ▲75.3% | ₹3.2K Cr ▼50.0% | ₹6.4K Cr ▼13.5% | ₹7.5K Cr ▲25.2% | ₹6.0K Cr ▲17.7% | ₹5.1K Cr ▼8.7% | ₹5.5K Cr ▲13.6% | ₹4.9K Cr ▲26.6% | ₹3.9K Cr |
| Tax % | 27.0% ▲8.0% | 25.0% ▼3.8% | 26.0% ▲4.0% | 25.0% ▲4.2% | 24.0% ▼11.1% | 27.0% ▲17.4% | 23.0% ▲0.0% | 23.0% ▲4.5% | 22.0% ▼15.4% | 26.0% |
| Net Profit | ₹4.8K Cr ▲13.0% | ₹4.3K Cr ▲77.4% | ₹2.4K Cr ▼50.6% | ₹4.9K Cr ▼13.7% | ₹5.6K Cr ▲29.3% | ₹4.4K Cr ▲11.7% | ₹3.9K Cr ▼9.1% | ₹4.3K Cr ▲13.3% | ₹3.8K Cr ▲32.8% | ₹2.9K Cr |
| EPS (₹) | 49.1 ▲13.1% | 43.43 ▲79.9% | 24.14 ▼51.3% | 49.6 ▼13.4% | 57.27 ▲25.2% | 45.73 ▲9.5% | 41.76 ▼4.4% | 43.7 ▲12.7% | 38.78 ▲34.3% | 28.88 |
| Div Payout | 94.0% ▲0.0% | 94.0% ▼37.3% | 150.0% ▲64.8% | 91.0% ▲93.6% | 47.0% ▼47.2% | 89.0% ▲178.1% | 32.0% ▲10.3% | 29.0% ▼12.1% | 33.0% ▲17.9% | 28.0% |
Values in ₹ Cr · Source: Screener.in
Balance Sheet
| Item | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Liabilities | ||||||||||
| Equity Capital | ₹443 Cr ▲0.2% | ₹442 Cr ▲0.2% | ₹441 Cr ▲0.2% | ₹440 Cr ▲0.2% | ₹439 Cr ▲0.5% | ₹437 Cr ▲0.2% | ₹436 Cr ▼1.8% | ₹444 Cr ▲0.5% | ₹442 Cr ▲0.7% | ₹439 Cr |
| Reserves | ₹29.2K Cr ▲8.4% | ₹26.9K Cr ▲2.6% | ₹26.2K Cr ▼4.6% | ₹27.5K Cr ▲3.9% | ₹26.4K Cr ▲8.3% | ₹24.4K Cr ▲14.3% | ₹21.4K Cr ▲7.7% | ₹19.8K Cr ▲7.8% | ₹18.4K Cr ▲15.0% | ₹16.0K Cr |
| Borrowings | ₹2.2K Cr ▲8.0% | ₹2.0K Cr ▼20.2% | ₹2.5K Cr ▼7.4% | ₹2.7K Cr ▲4.7% | ₹2.6K Cr ▼9.8% | ₹2.9K Cr ▼21.0% | ₹3.7K Cr ▲83.9% | ₹2.0K Cr ▼16.7% | ₹2.4K Cr ▲75.5% | ₹1.4K Cr |
| Other Liabilities | ₹17.6K Cr ▲18.1% | ₹14.9K Cr ▲6.7% | ₹13.9K Cr ▼8.0% | ₹15.2K Cr ▲1.7% | ₹14.9K Cr ▲26.0% | ₹11.8K Cr ▲0.0% | ₹11.8K Cr ▲6.0% | ₹11.2K Cr ▲21.5% | ₹9.2K Cr ▲11.4% | ₹8.3K Cr |
| Total Liabilities | ₹49.4K Cr ▲11.5% | ₹44.3K Cr ▲2.6% | ₹43.1K Cr ▼5.8% | ₹45.8K Cr ▲3.2% | ₹44.4K Cr ▲12.2% | ₹39.6K Cr ▲6.1% | ₹37.3K Cr ▲11.6% | ₹33.4K Cr ▲9.9% | ₹30.4K Cr ▲16.8% | ₹26.1K Cr |
| Assets | ||||||||||
| Fixed Assets | ₹14.9K Cr ▲6.3% | ₹14.0K Cr ▲0.6% | ₹13.9K Cr ▼6.9% | ₹14.9K Cr ▲1.0% | ₹14.8K Cr ▲63.9% | ₹9.0K Cr ▲1.6% | ₹8.9K Cr ▲25.6% | ₹7.1K Cr ▼7.4% | ₹7.6K Cr ▲18.0% | ₹6.5K Cr |
| CWIP | ₹27 Cr ▲28.6% | ₹21 Cr ▼84.2% | ₹133 Cr ▲10.8% | ₹120 Cr ▼27.3% | ₹165 Cr ▲39.8% | ₹118 Cr ▲136.0% | ₹50 Cr ▼81.9% | ₹276 Cr ▲15.0% | ₹240 Cr ▼35.7% | ₹373 Cr |
| Investments | ₹3.4K Cr ▲7.7% | ₹3.2K Cr ▼1.7% | ₹3.2K Cr ▼4.4% | ₹3.4K Cr ▼30.6% | ₹4.9K Cr ▼52.3% | ₹10.2K Cr ▲75.1% | ₹5.8K Cr ▼20.3% | ₹7.3K Cr ▲51.7% | ₹4.8K Cr ▲102.0% | ₹2.4K Cr |
| Other Assets | ₹31.1K Cr ▲14.7% | ₹27.1K Cr ▲4.7% | ₹25.9K Cr ▼5.5% | ₹27.4K Cr ▲11.4% | ₹24.6K Cr ▲21.5% | ₹20.2K Cr ▼10.3% | ₹22.5K Cr ▲20.2% | ₹18.8K Cr ▲5.9% | ₹17.7K Cr ▲5.3% | ₹16.8K Cr |
| Total Assets | ₹49.4K Cr ▲11.5% | ₹44.3K Cr ▲2.6% | ₹43.1K Cr ▼5.8% | ₹45.8K Cr ▲3.2% | ₹44.4K Cr ▲12.2% | ₹39.6K Cr ▲6.1% | ₹37.3K Cr ▲11.6% | ₹33.4K Cr ▲9.9% | ₹30.4K Cr ▲16.8% | ₹26.1K Cr |
Values in ₹ Cr · Source: Screener.in
Cash Flow Statement
| Item | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating CF | ₹6.2K Cr ▲6.7% | ₹5.8K Cr ▼9.3% | ₹6.4K Cr ▲14.4% | ₹5.6K Cr ▲5.4% | ₹5.3K Cr ▼34.7% | ₹8.1K Cr ▲85.7% | ₹4.4K Cr ▼1.7% | ₹4.4K Cr ▲24.7% | ₹3.6K Cr ▼12.7% | ₹4.1K Cr |
| Investing CF | ₹-409 Cr ▼2145.0% | ₹20 Cr ▲101.5% | ₹-1.3K Cr ▼483.2% | ₹-226 Cr ▼147.1% | ₹480 Cr ▲108.8% | ₹-5.4K Cr ▼602.6% | ₹1.1K Cr ▲151.4% | ₹-2.1K Cr ▲36.6% | ₹-3.3K Cr ▼14.7% | ₹-2.9K Cr |
| Financing CF | ₹-5.1K Cr ▲12.1% | ₹-5.8K Cr ▼22.4% | ₹-4.8K Cr ▲6.1% | ₹-5.1K Cr ▼8.8% | ₹-4.7K Cr ▼56.2% | ₹-3.0K Cr ▲33.1% | ₹-4.5K Cr ▼98.4% | ₹-2.3K Cr ▼736.8% | ₹-269 Cr ▲82.9% | ₹-1.6K Cr |
| Net Cash Flow | ₹632 Cr ▲2279.3% | ₹-29 Cr ▼110.0% | ₹291 Cr ▲9.0% | ₹267 Cr ▼75.7% | ₹1.1K Cr ▲436.8% | ₹-326 Cr ▼133.5% | ₹974 Cr ▲1164.9% | ₹77 Cr ▲320.0% | ₹-35 Cr ▲91.1% | ₹-392 Cr |
| Free Cash Flow | ₹5.6K Cr ▲6.1% | ₹5.3K Cr ▼6.0% | ₹5.6K Cr ▲22.5% | ₹4.6K Cr ▲3.4% | ₹4.5K Cr ▼40.8% | ₹7.5K Cr ▲113.1% | ₹3.5K Cr ▼3.4% | ₹3.7K Cr ▲32.2% | ₹2.8K Cr ▼16.6% | ₹3.3K Cr |
Values in ₹ Cr · Source: Screener.in
Key Ratios History
| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 48d ▼40.0% | 80d ▲0.0% | 80d ▼9.1% | 88d ▼10.2% | 98d ▲58.1% | 62d ▼17.3% | 75d ▲2.7% | 73d ▼5.2% | 77d ▲14.9% | 67d |
| Inventory Days | — | — | — | — | — | — | — | — | — | — |
| Days Payable | — | — | — | — | — | — | — | — | — | — |
| Cash Conv. Cycle | 48d ▼40.0% | 80d ▲0.0% | 80d ▼9.1% | 88d ▼10.2% | 98d ▲58.1% | 62d ▼17.3% | 75d ▲2.7% | 73d ▼5.2% | 77d ▲14.9% | 67d |
| Working Capital Days | 51d ▲104.0% | 25d ▲8.7% | 23d ▼17.9% | 28d ▼3.4% | 29d ▲20.8% | 24d ▼31.4% | 35d ▲45.8% | 24d ▼42.9% | 42d ▼26.3% | 57d |
| ROCE | 23.0% ▲21.1% | 19.0% ▲58.3% | 12.0% ▼45.5% | 22.0% ▼15.4% | 26.0% ▲13.0% | 23.0% ▲4.5% | 22.0% ▼12.0% | 25.0% ▲4.2% | 24.0% ▲4.3% | 23.0% |
Source: Screener.in · Lower days = better efficiency
Deep Dive Analysis
About Tech Mahindra Limited
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]
Information Technology · IT - Software