Tata Teleservices (Maharashtra) Ltd.

NSE: TTML · Telecommunication

₹39.77+12.57%06 Nov 2026

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Instant answers about Tata Teleservices (Maharashtra) Ltd. — computed from its filings, no language model

Market cap₹7,775 cr

Current price₹39.77

High / Low₹56 / ₹31

P/E26.0

P/B—

Book value₹-96.8

ROE—

ROCE168.2%

Debt / equity—

Dividend yield—

EPS (TTM)₹1.53

Face value₹10

Price & valuation

split & bonus adjusted · pick a metric and range

Annual performance

annual · ₹ crore · line = operating margin

showing latest 6 of 9 periods

	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	1,869	1,277	1,078	1,044	1,094	1,106	1,192	1,308	1,160
EBITDA	166	700	446	502	473	502	535	579	625
Operating margin	8.9%	54.8%	41.3%	48.1%	43.3%	45.4%	44.9%	44.2%	53.9%
Interest	1,569	1,559	1,545	1,561	1,539	1,502	1,622	1,694	1,361
Depreciation	533	178	195	169	160	147	150	168	142
Profit before tax	-9,842	-668	-3,714	-1,997	-1,215	-1,145	-1,228	-1,275	-215
Tax	0	0	0	0	0	0	0	0	0
Net profit	0	0	-3,714	-1,997	-1,215	-1,145	-1,228	-1,275	-215
EPS ₹	-50.34	-3.41	-19.00	-10.21	-6.22	-5.86	-6.28	-6.52	-1.10
Operating cash flow	—	—	—	—	532	558	586	505	668
Capex	—	—	—	—	108	111	109	99	135
Dividend paid	—	—	—	—	0	0	0	0	0
Total assets	3,380	4,531	1,714	1,509	1,365	1,211	1,307	1,304	1,341
Equity	-15,159	-14,820	-17,479	-18,491	-18,832	-19,055	-19,253	-19,570	-19,983

Quarterly performance

last 35 quarters · ₹ crore

showing latest 8 of 35 periods

	MAR '18	JUN '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	JUN '22	SEP '22	DEC '22	MAR '23	JUN '23	SEP '23	DEC '23	MAR '24	JUN '24	SEP '24	DEC '24	MAR '25	JUN '25	SEP '25	DEC '25	MAR '26	JUN '26	SEP '26
Revenue	382	334	322	305	315	293	27,035	255	259	243	257	278	265	268	269	284	273	266	278	282	280	286	287	296	323	324	344	333	308	284	286	294	296	302	310
Operating profit	-135	42	54	76	528	66	12,419	136	119	119	124	130	129	117	115	120	121	118	122	129	133	126	128	139	143	137	138	150	153	147	140	175	163	165	164
Operating margin	-35.4%	12.6%	16.7%	24.9%	167.2%	22.6%	45.9%	53.5%	45.8%	49.0%	48.2%	46.8%	48.5%	43.8%	42.6%	42.2%	44.4%	44.3%	44.0%	45.9%	47.3%	44.3%	44.5%	46.8%	44.1%	42.3%	40.3%	45.2%	49.6%	51.6%	48.9%	59.6%	55.3%	54.7%	53.0%
Other income	38	1	14	19	4	2	264	4	2	5	3	1	2	2	3	2	5	3	1	2	1	2	2	3	2	4	2	1	2	2	2	2	2	2	2
Interest	405	369	385	398	407	432	38,246	359	372	384	412	387	378	398	389	385	368	376	373	374	379	394	403	411	414	423	429	423	419	433	425	288	215	206	191
Depreciation	42	39	43	41	55	48	5,460	52	40	42	43	42	41	40	42	39	39	40	38	38	32	36	36	38	39	41	42	43	42	37	37	36	32	33	34
Profit before tax	-682	-455	-382	-409	580	-229	-2,33,445	-277	-874	-1,069	-341	-298	-288	-318	-314	-302	-281	-295	-293	-280	-277	-301	-310	-308	-309	-323	-330	-315	-306	-325	-321	-150	581	-72	-59
Tax	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net profit	0	-455	0	-409	0	0	-2,33,445	0	-874	-1,069	-341	-298	-288	-318	-314	-302	-281	-295	-293	-280	-277	-301	-310	-308	-309	-323	-330	-315	-306	-325	-321	-150	581	-72	-59
EPS ₹	-3.48	-2.33	-1.96	-2.09	2.96	-1.17	-11.94	-1.42	-4.47	-5.47	-1.75	-1.52	-1.47	-1.63	-1.60	-1.55	-1.44	-1.51	-1.50	-1.43	-1.42	-1.54	-1.59	-1.57	-1.58	-1.65	-1.69	-1.61	-1.57	-1.66	-1.64	-0.77	2.97	-0.37	-0.30
Revenue YoY	—	—	—	—	-17.4%	-12.3%	8300.1%	-16.5%	-17.9%	-17.1%	-99.1%	9.2%	2.5%	10.2%	4.7%	2.1%	2.8%	-0.6%	3.3%	-0.8%	2.7%	7.1%	3.3%	5.0%	15.4%	13.3%	19.8%	12.4%	-4.6%	-12.1%	-16.7%	-11.6%	-4.1%	6.1%	8.2%

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

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

Tata Teleservices (Maharashtra) 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

	FY12†	FY13†	FY14†	FY15†	FY16†	FY17†
Revenue	2,488	2,631	2,734	2,893	2,972	2,703
Operating profit	531	446	527	600	790	621
Operating margin	21.3%	17.0%	19.3%	20.7%	26.6%	23.0%
Other income	17	48	87	46	53	50
Interest	522	558	565	651	755	1,274
Depreciation	543	595	609	611	557	796
Profit before tax	-518	-659	-560	-615	-498	-2,357
Tax	0	0	0	0	0	0
Net profit	-518	-659	-560	-615	-498	-2,357

Quarters

showing latest 8 of 39 periods

	SEP '07†	DEC '07†	MAR '08†	JUN '08†	SEP '08†	DEC '08†	JUN '09†	SEP '09†	DEC '09†	JUN '10†	SEP '10†	DEC '10†	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	418	440	456	478	513	514	509	538	594	1,395	576	577	590	616	631	652	659	640	651	681	688	678	682	686	708	700	739	746	751	747	742	733	735	713	659	597	553	515	418
Operating profit	97	109	115	128	157	146	151	104	117	785	112	128	119	140	133	139	132	97	76	142	154	122	120	131	163	129	149	160	212	186	209	184	202	173	169	76	123	118	55
Operating margin	23.2%	24.7%	25.2%	26.8%	30.5%	28.3%	29.6%	19.4%	19.6%	56.3%	19.5%	22.2%	20.2%	22.7%	21.1%	21.3%	20.0%	15.1%	11.7%	20.8%	22.4%	17.9%	17.5%	19.2%	23.0%	18.4%	20.2%	21.4%	28.2%	24.8%	28.2%	25.1%	27.5%	24.3%	25.7%	12.8%	22.3%	22.8%	13.1%
Other income	10	20	35	27	5	2	1	7	1	3	6	7	1	4	3	9	2	12	14	20	8	15	28	36	17	12	7	10	7	25	11	10	15	16	1	18	1	1	1
Interest	51	42	53	75	93	84	65	96	84	90	74	74	113	140	141	128	150	145	138	126	138	146	150	131	155	149	173	175	166	206	140	243	171	388	351	364	388	393	383
Depreciation	104	114	118	114	115	109	110	124	134	140	141	141	127	134	139	143	146	148	149	152	151	155	154	149	148	151	153	159	156	160	160	80	155	270	234	138	218	215	58
Profit before tax	-49	-27	-20	-35	-47	-45	-23	-108	-101	558	-98	-80	-119	-130	-145	-123	-163	-184	-197	-115	-127	-165	-156	-112	-123	-159	-169	-164	-103	-156	-80	-159	-108	-468	-415	-1,366	-481	-8,198	-481
Tax	0	0	0	0	0	0	0	-0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net profit	-49	-27	-21	-35	-47	-45	-23	-108	-101	558	-98	-80	-119	-130	-145	-123	-163	-184	-197	-115	-127	-165	-156	-112	-123	-159	-169	-164	-103	-156	-80	-159	-108	-468	-415	-1,366	-481	-8,198	-481
EPS ₹	-0.27	0.15	-0.11	-0.18	-0.25	-0.24	-0.12	-0.57	-0.53	2.94	-0.52	-0.42	-0.63	-0.69	-0.76	-0.65	-0.86	-0.97	-1.04	-0.61	-0.67	-0.85	-0.80	-0.57	-0.63	-0.82	-0.86	-0.84	-0.53	-0.80	-0.41	-0.82	-0.55	-2.40	-2.12	-6.99	-2.46	-41.94	-2.46
Revenue YoY	—	—	—	—	22.7%	16.9%	6.6%	4.8%	15.5%	173.9%	7.1%	-2.7%	-57.7%	7.0%	9.2%	—	11.8%	3.8%	3.2%	4.6%	4.3%	5.9%	4.8%	0.7%	2.9%	3.3%	8.3%	8.8%	6.1%	6.6%	0.4%	-1.8%	-2.1%	-4.5%	-11.2%	-18.6%	-24.7%	-27.7%	-36.5%
Profit YoY	—	—	—	—	—	—	—	—	—	—	—	—	-121.4%	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—

Returns & margins

trailing-twelve-month, per quarter

showing latest 8 of 32 periods

	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	JUN '22	SEP '22	DEC '22	MAR '23	JUN '23	SEP '23	DEC '23	MAR '24	JUN '24	SEP '24	DEC '24	MAR '25	JUN '25	SEP '25	DEC '25	MAR '26	JUN '26	SEP '26
ROCE	—	—	—	—	—	—	—	—	—	-46.4%	35.2%	35.6%	34.8%	37.2%	37.3%	39.7%	41.1%	46.3%	47.8%	51.1%	52.3%	56.0%	57.1%	56.7%	57.4%	54.2%	55.3%	61.8%	66.0%	168.6%	172.4%	168.2%
Net margin	-64.4%	-67.7%	-33.1%	-836.7%	-836.8%	-841.6%	-847.0%	-225.3%	-249.0%	-191.3%	-116.6%	-112.8%	-112.6%	-111.1%	-109.1%	-106.3%	-104.5%	-103.5%	-102.3%	-103.0%	-104.2%	-103.1%	-101.7%	-98.8%	-96.6%	-97.5%	-100.6%	-104.6%	-94.0%	-18.6%	3.2%	24.9%
EBITDA margin	2.8%	54.8%	58.5%	46.8%	47.1%	45.8%	46.0%	49.1%	47.4%	48.1%	46.8%	45.4%	44.2%	43.3%	43.4%	43.7%	44.7%	45.4%	45.4%	45.5%	45.7%	44.9%	44.3%	43.2%	42.9%	44.2%	46.4%	48.7%	52.4%	53.9%	54.6%	55.6%
Interest coverage	-0.24	0.57	0.73	-4.91	-4.92	-4.96	-4.99	-0.68	-0.66	-0.28	0.21	0.22	0.21	0.21	0.21	0.22	0.23	0.24	0.24	0.25	0.25	0.24	0.24	0.24	0.24	0.25	0.25	0.25	0.30	0.84	1.03	1.33
Asset turnover	0.40	0.28	0.27	6.17	6.16	16.24	16.21	0.59	0.61	0.69	0.71	0.72	0.72	0.80	0.80	0.85	0.85	0.91	0.93	0.95	0.96	0.91	0.94	0.97	1.00	1.00	0.97	0.98	0.95	0.87	0.88	0.85

Balance sheet

equity vs borrowings over time · ₹ crore

showing latest 6 of 16 periods

	MAR '16‡	MAR '17‡	MAR '18‡	MAR '19‡	MAR '20‡	MAR '21‡	MAR '22‡	SEP '22	MAR '23	SEP '23	MAR '24	SEP '24	MAR '25	SEP '25	MAR '26	SEP '26
Share capital	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955
Other equity / reserves	-5,941	-7,864	-17,114	-16,775	-19,434	-20,446	-20,787	-20,515	-21,009	-21,098	-21,208	-20,968	-21,525	-21,699	-21,938	-20,888
Total equity	-3,986	-5,909	-15,159	-14,820	-17,479	-18,491	-18,832	-18,560	-19,055	-19,143	-19,253	-19,013	-19,570	-19,744	-19,983	-18,933
Borrowings	10,659	14,968	13,169	12,639	10,477	19,429	19,704	19,392	19,825	19,889	19,954	19,728	20,342	20,445	20,663	19,646
Current liabilities	5,919	7,151	10,553	13,620	12,877	10,009	9,423	6,334	10,221	12,418	7,535	5,924	9,957	11,294	18,184	16,568
Non-current liabilities	7,529	10,664	7,986	5,731	6,316	9,991	10,774	13,521	10,044	7,916	13,025	14,415	10,917	9,685	3,140	3,774
Total assets	9,462	11,906	3,380	4,531	1,714	1,509	1,365	1,295	1,211	1,191	1,307	1,327	1,304	1,235	1,341	1,410
Property, plant & equipment	1,942	1,592	794	675	678	676	675	670	674	669	659	686	683	691	698	709
Capital work-in-progress	48	27	27	26	39	29	28	25	29	31	59	39	35	24	28	41
Investments	592	680	378	609	0	70	100	124	66	72	34	23	58	68	23	78
Inventories	5	2	0	—	—	—	—	0	0	0	0	0	0	0	0	0
Receivables	291	227	158	89	122	78	52	49	110	129	156	195	145	125	95	110
Cash & equivalents	67	37	39	171	85	43	17	17	14	15	32	21	42	5	15	9

Cash flow

annual · ₹ crore · line = free cash flow

showing latest 5 of 13 periods

	FY14‡	FY15‡	FY16‡	FY17‡	FY18‡	FY19‡	FY20‡	FY21‡	FY22	FY23	FY24	FY25	FY26
Cash from operations	709	636	730	730	603	-734	-360	567	532	558	586	505	668
Cash from investing	-266	-785	-2,198	-2,198	259	-101	510	-177	-132	-66	-64	-109	-91
Cash from financing	-510	177	1,438	1,041	-860	967	-237	-432	-427	-494	-503	-386	-604
Capex	—	—	2,139	2,139	78	128	110	114	108	111	109	99	135
Free cash flow	—	—	-1,409	-1,409	525	-861	-470	453	425	447	477	406	532
Dividends paid	—	—	—	—	—	—	—	—	0	0	0	0	0

Where the assets sit

Sep '26 · ₹ crore

Fixed assets (PPE)

₹709 cr50%

CWIP

₹41 cr3%

Investments

₹78 cr6%

Receivables

₹110 cr8%

Cash & equivalents

₹9 cr1%

Other assets

₹463 cr33%

Peer comparison

largest in Telecommunication · this company in bold

Company	Market cap ₹cr	Price	P/E	P/B	ROE
Bharti Airtel Ltd.	13,15,061	2,107.20	42.4	8.32	19.6%
Vodafone Idea Ltd.	1,38,246	12.76	3.7	—	—
Indus Towers Ltd.	1,01,066	383.10	14.2	2.56	18.0%
Bharti Hexacom Ltd.	83,220	1,664.40	42.3	11.38	26.9%
Tata Communications Ltd.	48,602	1,704.80	44.0	14.29	32.5%
Sterlite Technologies Ltd.	37,075	719.90	48.2	8.16	16.9%
HFCL Ltd.	32,239	210.66	37.2	5.71	15.4%
ITI Ltd.	23,961	248.85	—	12.57	-5.9%
Tata Teleservices (Maharashtra) Ltd.	7,775	39.77	26.0	—	—
Railtel Corporation Of India Ltd.	7,736	241.05	22.9	3.28	14.3%

StoxGud checklist: Neutral setup · 5/10

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+16.9%

6 months-11.3%

1 year-28.1%

3Y CAGR-23.7%

5Y CAGR-9.9%

10Y CAGR+19.6%

50-day avg₹35.90

200-day avg₹40.13

RSI (14)62

Compare Tata Teleservices (Maharashtra) Ltd. with

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FAQs

What is the share price of Tata Teleservices (Maharashtra) Ltd.?

Tata Teleservices (Maharashtra) Ltd. (TTML) closed at ₹39.77 on NSE on 06 Nov 2026.

What is the market cap of Tata Teleservices (Maharashtra) Ltd.?

₹7,775 crore at the latest close.

What is the P/E ratio of Tata Teleservices (Maharashtra) Ltd.?

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

How fast is Tata Teleservices (Maharashtra) Ltd. growing?

Tata Teleservices (Maharashtra) Ltd.: revenue has compounded at 1.6% a year over three years. Latest-quarter revenue is up 8.2% year on year.

How profitable is Tata Teleservices (Maharashtra) Ltd.?

On a trailing-twelve-month basis return on capital employed 168.2%, operating margin 55.6%, net margin 24.9%.

How much debt does Tata Teleservices (Maharashtra) Ltd. have?

Debt to equity isn't meaningful for Tata Teleservices (Maharashtra) Ltd. (banks borrow as part of their business) or isn't filed yet.

Financials parsed from Tata Teleservices (Maharashtra) Ltd.'s own XBRL filings to NSE (standalone), ₹ 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.