Tech Mahindra Ltd.

NSE: TECHM · Information Technology

₹1,831.00+0.46%06 Nov 2026

Ask the data

Instant answers about Tech Mahindra Ltd. — computed from its filings, no language model

Market cap₹1,62,227 cr

Current price₹1,831.00

High / Low₹1,835 / ₹1,332

P/E35.2

P/B5.47

Book value₹334.9

ROE15.5%

ROCE25.2%

Debt / equity0.07

Dividend yield2.48%

EPS (TTM)₹51.95

Face value₹5

Price & valuation

split & bonus adjusted · pick a metric and range

Annual performance

annual · ₹ crore · line = operating margin

showing latest 6 of 8 periods

	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY26
Revenue	30,773	34,742	36,868	37,855	44,646	53,290	51,995	56,815
EBITDA	4,710	6,337	5,509	6,796	8,020	7,792	4,506	9,034
Operating margin	15.3%	18.2%	14.9%	18.0%	18.0%	14.6%	8.7%	15.9%
Interest	162	133	192	174	163	326	392	337
Depreciation	1,085	1,129	1,446	1,458	1,520	1,957	1,817	1,882
Profit before tax	4,879	5,543	5,058	5,953	7,452	6,445	3,224	6,573
Tax	1,093	1,254	1,160	1,600	1,822	1,588	828	1,768
Net profit	3,800	4,298	4,033	4,428	5,566	4,831	2,358	4,811
EPS ₹	43.02	48.48	46.21	50.64	63.32	54.76	26.66	54.28
Operating cash flow	—	—	—	—	5,285	5,572	6,376	6,172
Capex	—	—	—	—	958	1,015	791	696
Dividend paid	—	—	—	—	3,981	4,263	3,917	4,026
Total assets	30,437	33,447	37,354	39,678	—	46,153	43,424	49,369
Equity	18,843	20,284	21,813	24,865	—	27,924	26,669	29,615

Quarterly performance

last 32 quarters · ₹ crore

showing latest 8 of 32 periods

	MAR '18	SEP '18	DEC '18	MAR '19	JUN '19	SEP '19	DEC '19	MAR '20	JUN '20	SEP '20	DEC '20	MAR '21	JUN '21	SEP '21	DEC '21	MAR '22	SEP '22	DEC '22	MAR '23	JUN '23	SEP '23	DEC '23	MAR '24	JUN '24	SEP '24	DEC '24	JUN '25	SEP '25	DEC '25	MAR '26	JUN '26	SEP '26
Revenue	8,054	8,630	8,944	8,892	8,653	9,070	9,655	9,490	9,106	9,372	9,647	9,730	10,198	10,881	11,451	12,116	13,129	13,735	13,718	13,159	12,864	13,101	12,871	13,005	13,313	13,286	13,351	13,995	14,393	15,076	15,712	16,180
Operating profit	1,412	1,619	1,723	1,639	1,314	1,501	1,563	1,130	1,301	1,703	1,896	1,897	1,876	1,995	2,060	2,088	1,960	2,144	1,808	1,338	923	1,146	1,099	1,564	1,750	1,809	1,935	2,168	2,366	2,565	2,742	2,878
Operating margin	17.5%	18.8%	19.3%	18.4%	15.2%	16.5%	16.2%	11.9%	14.3%	18.2%	19.6%	19.5%	18.4%	18.3%	18.0%	17.2%	14.9%	15.6%	13.2%	10.2%	7.2%	8.8%	8.5%	12.0%	13.1%	13.6%	14.5%	15.5%	16.4%	17.0%	17.5%	17.8%
Other income	451	175	81	167	341	216	350	285	416	118	221	33	287	282	223	320	290	247	306	192	264	88	374	145	522	16	218	40	-22	-205	-106	-7
Interest	53	39	36	28	45	38	55	53	50	40	42	42	38	35	34	55	79	113	93	120	98	116	58	72	89	76	78	77	94	89	111	84
Depreciation	299	294	284	270	321	342	385	398	383	372	358	344	331	343	362	484	492	498	490	447	466	443	461	462	470	459	458	469	474	481	479	491
Profit before tax	1,512	1,447	1,471	1,480	1,281	1,338	1,474	966	1,283	1,409	1,716	1,544	1,794	1,898	1,886	1,873	1,664	1,771	1,525	963	615	679	959	1,175	1,713	1,297	1,618	1,659	1,504	1,791	2,046	2,296
Tax	281	391	264	353	332	226	363	239	328	346	426	500	429	557	508	328	365	486	400	268	110	155	295	313	456	309	489	458	386	434	556	686
Net profit	1,222	1,064	1,203	1,133	959	1,124	1,146	804	972	1,065	1,310	1,081	1,353	1,339	1,368	1,506	1,285	1,297	1,118	692	494	510	661	49	1,257	989	1,141	1,194	199	1,354	1,465	1,586
EPS ₹	13.84	11.99	13.55	12.77	10.98	12.88	13.13	9.21	11.13	12.18	14.98	12.37	15.43	15.26	15.58	17.09	14.58	14.70	12.67	7.84	5.59	5.77	7.48	9.62	14.12	11.10	12.87	13.48	12.66	15.27	16.53	17.88
Revenue YoY	—	—	—	10.4%	—	5.1%	7.9%	6.7%	5.2%	3.3%	-0.1%	2.5%	12.0%	16.1%	18.7%	24.5%	20.7%	19.9%	13.2%	—	-2.0%	-4.6%	-6.2%	-1.2%	3.5%	1.4%	2.7%	5.1%	8.3%	—	17.7%	15.6%
Profit YoY	—	—	—	-7.3%	—	5.6%	-4.7%	-29.0%	1.4%	-5.3%	14.3%	34.5%	39.2%	25.7%	4.5%	39.2%	-4.0%	-5.3%	-25.8%	—	-61.6%	-60.6%	-40.9%	-93.0%	154.6%	93.7%	2242.1%	-5.0%	-79.9%	—	28.4%	32.7%

Earlier results (standalone, Sep '07 – Dec '17)

₹ crore · from BSE, before the NSE XBRL filings begin

Tech Mahindra Ltd. reports consolidated figures above. Quarterly consolidated results only became mandatory in India in 2019, so the earlier history available is the standalone company only (excluding subsidiaries). It is shown separately so the two bases are never mixed.

Full years

showing latest 8 of 9 periods

	FY09†	FY10†	FY11†	FY12†	FY13†	FY14†	FY15†	FY16†	FY17†
Revenue	4,358	4,484	4,966	5,243	6,002	16,295	19,058	20,751	23,165
Operating profit	1,243	1,082	929	832	1,178	3,561	3,193	3,323	3,672
Operating margin	28.5%	24.1%	18.7%	15.9%	19.6%	21.9%	16.8%	16.0%	15.9%
Other income	-42	91	115	106	-95	70	118	1,058	893
Interest	3	160	100	141	109	87	9	44	64
Depreciation	107	130	138	151	157	427	470	539	622
Profit before tax	1,090	874	806	579	817	3,238	2,894	3,833	3,879
Tax	104	131	109	118	165	552	638	613	831
Net profit	987	743	697	461	653	2,686	2,256	3,220	3,047

Quarters

showing latest 8 of 42 periods

	SEP '07†	DEC '07†	MAR '08†	JUN '08†	SEP '08†	DEC '08†	MAR '09†	JUN '09†	SEP '09†	DEC '09†	MAR '10†	JUN '10†	SEP '10†	DEC '10†	MAR '11†	JUN '11†	SEP '11†	DEC '11†	MAR '12†	JUN '12†	SEP '12†	DEC '12†	MAR '13†	JUN '13†	SEP '13†	DEC '13†	MAR '14†	JUN '14†	SEP '14†	DEC '14†	MAR '15†	JUN '15†	SEP '15†	DEC '15†	MAR '16†	JUN '16†	SEP '16†	DEC '16†	MAR '17†	JUN '17†	SEP '17†	DEC '17†
Revenue	859	912	991	1,101	1,142	1,102	1,013	1,060	1,110	1,150	1,164	1,094	1,492	1,181	1,199	1,234	1,267	1,381	1,360	1,495	1,508	1,503	1,496	3,553	4,156	4,216	4,370	4,512	4,804	5,035	4,707	4,950	5,181	5,153	5,467	5,647	5,682	5,913	5,924	5,754	5,919	5,968
Operating profit	193	210	222	281	385	306	271	263	279	262	278	191	272	246	220	216	179	204	233	312	294	297	276	757	979	965	860	752	867	951	623	702	856	839	927	932	916	1,022	802	776	1,053	986
Operating margin	22.4%	23.0%	22.4%	25.6%	33.7%	27.7%	26.7%	24.8%	25.1%	22.8%	23.8%	17.5%	18.2%	20.8%	18.4%	17.5%	14.1%	14.8%	17.1%	20.9%	19.5%	19.7%	18.4%	21.3%	23.6%	22.9%	19.7%	16.7%	18.0%	18.9%	13.2%	14.2%	16.5%	16.3%	17.0%	16.5%	16.1%	17.3%	13.5%	13.5%	17.8%	16.5%
Other income	25	29	34	25	-33	-41	7	-30	37	6	78	23	9	53	30	44	82	-6	-14	-32	-55	16	-24	161	14	-35	-70	78	44	39	-42	364	477	79	138	175	381	178	159	395	735	191
Interest	4	3	1	0	0	0	2	40	43	46	31	26	27	25	21	22	72	34	13	24	23	30	32	26	23	28	9	3	3	2	1	4	11	16	13	15	17	20	12	17	19	18
Depreciation	18	19	21	26	26	28	28	29	30	32	39	34	34	34	37	31	48	36	35	37	41	37	42	102	95	114	116	121	113	112	125	122	141	117	159	142	148	155	178	148	158	170
Profit before tax	196	216	234	281	325	237	247	156	243	190	286	154	221	239	192	207	141	128	103	219	174	247	177	790	875	908	664	706	795	877	516	975	1,181	784	893	950	1,133	1,025	771	1,007	1,611	988
Tax	16	20	441	26	29	22	26	22	32	24	54	25	37	37	10	44	32	19	23	52	14	58	41	191	237	-16	141	179	206	166	87	158	224	168	63	213	260	173	185	211	233	150
Net profit	181	196	-207	254	296	215	221	135	211	166	232	128	184	202	182	162	109	109	80	168	160	189	136	599	639	925	523	527	589	711	429	817	957	616	830	737	872	852	586	795	1,378	838
EPS ₹	14.92	16.19	-17.07	20.94	24.36	17.67	18.19	11.06	17.29	13.59	19.00	10.41	14.85	16.23	14.61	12.84	8.62	8.58	6.32	13.14	12.56	14.82	10.64	25.83	27.52	39.81	22.51	22.55	25.16	29.74	4.48	8.50	9.96	6.40	8.60	7.61	8.99	8.78	6.03	8.17	14.14	8.59
Revenue YoY	—	—	—	—	32.9%	20.9%	2.2%	-3.7%	-2.8%	4.3%	14.9%	3.1%	34.4%	2.7%	3.0%	12.9%	-15.0%	16.9%	13.5%	21.1%	19.0%	8.8%	10.0%	137.7%	175.6%	180.6%	192.0%	27.0%	15.6%	19.4%	7.7%	9.7%	7.9%	2.3%	16.1%	14.1%	9.7%	14.8%	8.4%	1.9%	4.2%	0.9%
Profit YoY	—	—	—	—	63.6%	9.4%	—	-47.0%	-28.8%	-22.9%	4.7%	-4.7%	-12.7%	21.9%	-21.3%	26.4%	-40.7%	-46.1%	-56.0%	3.2%	46.7%	73.7%	69.1%	257.5%	298.8%	389.0%	285.4%	-12.0%	-7.7%	-23.1%	-18.0%	55.0%	62.4%	-13.3%	93.4%	-9.7%	-8.9%	38.2%	-29.4%	7.9%	58.0%	-1.6%

Returns & margins

trailing-twelve-month, per quarter

showing latest 8 of 22 periods

	JUN '19	SEP '19	DEC '19	MAR '20	JUN '20	SEP '20	DEC '20	MAR '21	JUN '21	SEP '21	DEC '21	MAR '22	JUN '23	SEP '23	DEC '23	MAR '24	JUN '24	SEP '24	DEC '24	MAR '26	JUN '26	SEP '26
ROE	21.5%	21.8%	21.5%	18.5%	18.5%	18.3%	19.0%	17.8%	19.3%	20.4%	20.7%	22.4%	15.7%	13.6%	10.7%	8.8%	6.4%	9.4%	11.2%	13.1%	14.2%	15.5%
ROCE	26.9%	26.4%	26.5%	21.7%	21.7%	22.0%	22.9%	23.1%	25.0%	26.8%	27.4%	28.7%	21.4%	18.9%	15.1%	12.8%	13.4%	17.1%	19.1%	21.7%	23.2%	25.2%
Net margin	12.4%	12.4%	12.0%	10.9%	10.8%	10.6%	11.0%	11.7%	12.3%	12.6%	12.2%	12.5%	8.2%	6.7%	5.3%	4.5%	3.3%	4.7%	5.6%	6.8%	7.1%	7.5%
EBITDA margin	17.9%	17.4%	16.6%	14.9%	14.7%	15.1%	16.0%	18.0%	18.9%	18.9%	18.5%	18.0%	13.5%	11.6%	9.9%	8.7%	9.1%	10.6%	11.9%	15.9%	16.6%	17.2%
Debt / equity	0.07	0.07	0.07	0.11	0.11	0.11	0.11	0.07	0.07	0.07	0.07	0.07	0.06	0.06	0.06	0.06	0.06	0.08	0.08	0.07	0.07	0.07
Interest coverage	39.34	38.72	34.41	27.36	26.71	26.87	29.97	35.21	40.95	45.20	48.77	46.83	15.63	12.51	9.86	9.20	10.97	14.49	18.45	20.48	19.87	21.24
Asset turnover	1.05	1.06	1.08	0.99	1.00	1.01	1.01	0.95	0.98	1.02	1.07	1.13	1.16	1.23	1.22	1.20	1.19	1.22	1.23	1.15	1.20	1.26

Balance sheet

equity vs borrowings over time · ₹ crore

showing latest 6 of 14 periods

	MAR '16‡	MAR '17‡	MAR '18‡	MAR '19‡	MAR '20‡	MAR '21‡	SEP '22	MAR '23	SEP '23	MAR '24	SEP '24	SEP '25	MAR '26	SEP '26
Share capital	436	439	442	444	436	437	440	440	441	441	442	443	443	443
Other equity / reserves	14,155	15,998	18,401	19,841	21,377	24,428	26,347	27,484	25,971	26,228	26,004	27,061	29,173	29,230
Total equity	14,591	16,437	18,843	20,284	21,813	24,865	26,787	27,924	26,411	26,669	26,446	27,504	29,615	29,673
Borrowings	1,002	1,220	1,726	1,405	2,428	1,662	1,681	1,578	1,551	1,531	2,035	2,090	2,186	2,184
Current liabilities	—	—	—	—	—	—	15,224	14,551	12,795	13,847	12,192	13,637	14,498	15,108
Non-current liabilities	—	—	—	—	—	—	3,187	3,207	3,838	2,430	3,736	4,238	4,795	3,573
Total assets	22,525	26,066	30,437	33,447	37,354	39,678	45,659	46,153	43,491	43,424	42,827	45,828	49,369	48,803
Property, plant & equipment	2,380	3,072	2,981	2,623	2,661	2,463	2,566	2,862	2,712	2,558	2,442	2,467	2,426	2,454
Capital work-in-progress	629	373	240	276	50	118	252	84	124	101	11	23	27	131
Investments	1,242	2,396	4,740	7,306	5,829	10,210	3,139	3,388	2,749	3,238	2,312	3,082	3,426	2,608
Inventories	40	61	66	75	36	24	18	24	29	38	39	96	104	95
Receivables	5,770	5,353	6,512	6,965	7,581	6,475	12,409	12,883	12,059	11,402	11,992	12,694	13,358	14,100
Cash & equivalents	2,398	2,001	1,966	2,043	3,017	2,690	4,554	4,056	3,712	4,347	4,090	4,173	5,046	4,720

Cash flow

annual · ₹ crore · line = free cash flow

showing latest 5 of 9 periods

	FY17‡	FY18‡	FY19‡	FY20‡	FY21‡	FY22	FY23	FY24	FY26
Cash from operations	4,071	3,554	4,432	4,358	8,094	5,285	5,572	6,376	6,172
Cash from investing	-2,890	-3,360	-2,116	1,029	-5,450	482	-278	-1,314	-409
Cash from financing	-1,571	-269	-2,251	-4,466	-2,987	-4,667	-5,078	-4,767	-5,130
Capex	768	1,017	805	845	666	958	1,015	791	696
Free cash flow	3,303	2,537	3,627	3,514	7,428	4,327	4,557	5,585	5,476
Dividends paid	—	—	—	—	—	3,981	4,263	3,917	4,026

Where the assets sit

Sep '26 · ₹ crore

Fixed assets (PPE)

₹2,454 cr5%

CWIP

₹131 cr0%

Investments

₹2,608 cr5%

Inventories

₹95 cr0%

Receivables

₹14,100 cr29%

Cash & equivalents

₹4,720 cr10%

Other assets

₹24,695 cr51%

Peer comparison

largest in Information Technology · this company in bold

Company	Market cap ₹cr	Price	P/E	P/B	ROE
Tata Consultancy Services Ltd.	9,04,457	2,498.50	17.5	7.60	43.4%
Infosys Ltd.	4,78,703	1,181.40	15.6	4.83	31.0%
HCL Technologies Ltd.	3,90,960	1,440.00	21.3	5.14	24.1%
Wipro Ltd.	1,96,119	198.00	14.9	2.48	16.7%
Tech Mahindra Ltd.	1,62,227	1,831.00	35.2	5.47	15.5%
LTM Ltd.	1,28,405	4,338.00	24.6	4.96	20.2%
Persistent Systems Ltd.	95,494	6,053.50	72.3	11.12	15.4%
Coforge Ltd.	91,967	2,076.00	47.7	4.11	8.6%
Oracle Financial Services Software Ltd.	89,075	10,215.00	25.0	11.59	46.4%
MphasiS Ltd.	48,121	2,520.00	24.0	4.46	18.5%

StoxGud checklist: Bullish setup · 8/10

Price above 50-day average
Price above 200-day average
50-day average above 200-day (uptrend)
RSI in healthy 40–70 zone
Positive 1-year return
Return on equity above 15%
Debt to equity below 1
Revenue growing year on year
Net profit margin above 10%
P/E below industry median

A rules-based screen of trend, momentum, quality and valuation. Educational only — not a buy or sell recommendation.

Returns & technicals

1 month+22.8%

6 months+26.4%

1 year+26.1%

3Y CAGR+17.0%

5Y CAGR+3.3%

10Y CAGR+15.2%

50-day avg₹1,628.78

200-day avg₹1,530.80

RSI (14)58

Long-term financials (FY10–FY10)

from published annual reports

Year	Revenue	Profit before tax	Net profit
FY10	₹4,575 Cr	₹874 Cr	₹743 Cr

Years before FY17 follow the older Indian GAAP standard, so they are not exactly comparable with recent years.

Compare Tech Mahindra Ltd. with

Tata Consultancy Services vs Tech Mahindra Infosys vs Tech Mahindra HCL Technologies vs Tech Mahindra Wipro vs Tech Mahindra Tech Mahindra vs LTM Tech Mahindra vs Persistent Systems Tech Mahindra vs Coforge Tech Mahindra vs Oracle Financial Services Software

FAQs

What is the share price of Tech Mahindra Ltd.?

Tech Mahindra Ltd. (TECHM) closed at ₹1,831.00 on NSE on 06 Nov 2026.

What is the market cap of Tech Mahindra Ltd.?

₹1,62,227 crore at the latest close.

What is the P/E ratio of Tech Mahindra Ltd.?

35.2, on trailing-twelve-month earnings from its filings.

How fast is Tech Mahindra Ltd. growing?

Tech Mahindra Ltd.: revenue has compounded at 8.4% a year over three years; net profit at -4.7% a year. Latest-quarter revenue is up 15.6% year on year, profit up 32.7%.

How profitable is Tech Mahindra Ltd.?

On a trailing-twelve-month basis return on equity is 15.5%, return on capital employed 25.2%, operating margin 17.2%, net margin 7.5%.

How much debt does Tech Mahindra Ltd. have?

Tech Mahindra Ltd. is lightly geared: debt to equity is 0.07 with borrowings of ₹2,184 cr against cash of ₹4,720 cr (balance sheet of 2026-09-30). Operating profit covers interest 21.2 times.

Financials parsed from Tech Mahindra Ltd.'s own XBRL filings to NSE (consolidated), ₹ crore unless marked. Quarterly from MAR '18, annual from FY18, balance sheet from Mar '16. * = derived (full year or half year minus earlier quarters). ‡ = balance sheet / cash flow read from the company's published annual report (same basis), for years before the NSE filings carry them; each one checked to add up. Information only, not investment advice.