Flash Finance

Tech Mahindra LimitedTECHMCorporate

Technology Information Technology Services Latest results: Sep 2026 16 quarters of data
Consolidated Standalone
₹1,790.00
MCap ₹158,576 Cr · P/E 28.5
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AI-assisted data: figures and text on this page are extracted from public quarterly filings with AI assistance, checked automatically and overseen by our editorial team (human in the loop). They may still contain errors or omissions. Verify critical numbers against official company / SEBI / NSE / BSE filings before making any decision. Educational information only, not financial advice.
₹16,180 Cr
Sales · Sep 2026
+15.6% YoY
₹2,878 Cr
Operating Profit · Sep 2026
+32.8% YoY
17.8%
OPM % · Sep 2026
+14.8% YoY
₹1,610 Cr
Net Profit · Sep 2026
+34.0% YoY
₹17.88
EPS · Sep 2026
+32.6% YoY

📝 Tech Mahindra Limited — results explained

Quarter ended September 2026 (Q2 FY27)

Tech Mahindra Limited reported revenue of ₹16,180 crore for the quarter ended September 2026 (Q2 FY27), up 15.6% from ₹13,995 crore in the same quarter last year, and up 3.0% sequentially over the June 2026 quarter.

Net profit rose 34.0% year-on-year to ₹1,610 crore, from ₹1,202 crore. Earnings per share (EPS) came in at ₹17.88.

Operating profit stood at ₹2,878 crore — an operating margin (OPM) of 17.8%, compared with 15.5% in the year-ago quarter.

Full year and trailing twelve months

For the full year FY26, Tech Mahindra Limited posted revenue of ₹56,815 crore, a growth of 7.2% over FY25, with a net profit of ₹4,805 crore (up 13.0% year-on-year).

On a trailing-twelve-month (TTM) basis, revenue stands at ₹61,361 crore with a net profit of ₹5,571 crore.

Valuation snapshot

At the current price of ₹1,790.00, TECHM has a market capitalisation of ₹158,576 crore and a trailing P/E of about 28.5.

Within the Information Technology Services industry, it is the 5th-largest of the 19 companies we track by market value.

Shareholding pattern

As of Jun 2026, promoters held 34.97%, foreign institutional investors (FIIs) 18.66%, domestic institutional investors (DIIs) 36.92%, the government 0.17%, public shareholders 9.29% of Tech Mahindra Limited.

📈 Share price & events

📊 Quarterly trend

₹ crore · OPM % on right axis

🎯 Key metrics

price-linked ratios use the latest close
Valuation
Market Cap ?
₹158,576 Cr
Current Price ?
₹1,790.0
P/E ?
28.47above ind
Industry P/E ?
25.00
P/B ?
5.34
P/S ?
2.58
P/FCF ?
28.19
Enterprise Value ?
₹160,759 Cr
EV/EBITDA ?
15.24
PEG ?
28.47
Earnings Yield ?
5.4%
Dividend Yield ?
2.85%
Profitability & Returns
Sales (TTM) ?
₹61,361 Cr
OPM ?
17.2%
Profit after tax (TTM) ?
₹5,571 Cr
EPS (TTM) ?
₹62.88
ROCE ?
23.0%
ROE ?
18.8%
ROA ?
11.4%
Growth
Sales — latest qtr ?
₹16,180 Cr
PAT — latest qtr ?
₹1,610 Cr
YoY qtr sales growth ?
15.6%
YoY qtr profit growth ?
34.0%
Sales growth (3y) ?
2%
Sales growth (5y) ?
8%
Profit growth (3y) ?
1%
Profit growth (5y) ?
2%
Financial Health
Debt ?
₹2,184 Cr
Debt to Equity ?
0.07
Interest Coverage ?
21.2
Current Ratio ?
N/A
Ownership
Promoter holding ?
34.97%
Change in promoter holding ?
-0.02%
Pledged percentage ?
N/A
Market
Return 3 months ?
13.8%
Return 6 months ?
18.4%

🗓️ Quarterly results (16 quarters · ₹ Cr)

same fiscal quarter as Sep bestweakest per row · for costs (interest, NPAs) low is best
Metric Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026 YoY % QoQ %
Sales 13,73513,71813,15912,86413,10112,87113,00613,31313,28613,38413,35113,99514,39315,07615,71216,180 +15.6% +3.0%
Operating Profit 2,1441,8081,3389141,1461,0991,5641,7501,8091,8401,9352,1682,3662,5652,7422,878 +32.8% +5.0%
Other Income 247300192264883801455222317321837-21-205-111-7 -119.9% +93.3%
Interest 113931209811658728976857877948911184 +8.3% -24.9%
Depreciation 498490447466443461462470459462458469474481479491 +4.8% +2.7%
Profit Before Tax 1,7711,5259716156799591,1781,7141,2971,4641,6181,6591,5051,7912,0422,296 +38.4% +12.4%
Net Profit 1,2851,1257044945246648651,2589891,1421,1291,2021,1191,3561,4861,610 +34.0% +8.3%
EPS 14.7012.677.845.595.777.489.6214.1211.1013.1712.8713.4812.6613.8216.5317.88 +32.6% +8.2%
OPM % 15.6% 13.2% 10.2% 7.1% 8.8% 8.5% 12.0% 13.1% 13.6% 13.7% 14.5% 15.5% 16.4% 17.0% 17.5% 17.8% +14.8% +1.7%

📆 Annual results (₹ Cr, FY = Apr–Mar)

Metric FY25 FY26 TTM YoY %
Sales ₹52,988 Cr ₹56,815 Cr ₹61,361 Cr +7.2%
Operating Profit ₹6,964 Cr ₹9,034 Cr ₹10,552 Cr +29.7%
OPM % 13.14% 15.90% 17.20% +21.0%
NPM % 8.03% 8.46% 9.08% +5.4%
Other Income ₹862 Cr ₹30 Cr ₹-344 Cr -96.6%
Depreciation ₹1,853 Cr ₹1,882 Cr ₹1,925 Cr +1.5%
Interest ₹322 Cr ₹338 Cr ₹378 Cr +4.9%
EBIT ₹5,111 Cr ₹7,152 Cr ₹8,627 Cr +39.9%
PBT ₹5,653 Cr ₹6,574 Cr ₹7,634 Cr +16.3%
Tax ₹1,400 Cr ₹1,333 Cr ₹1,628 Cr -4.8%
Net Profit ₹4,253 Cr ₹4,805 Cr ₹5,571 Cr +13.0%
EPS ₹48.01 ₹52.83 ₹60.89 +10.0%
Material Cost — — — —
Employee Cost ₹29,624 Cr ₹22,692 Cr ₹23,672 Cr -23.4%
Extraordinary Items — ₹-272 Cr ₹-272 Cr —

🏛️ Balance Sheet (latest 5 periods)

Metric Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026 % Chg
Equity Capital 440441442443443 +0.0%
Reserves 27,48426,22826,91929,17329,230 +0.2%
Borrowings 2,7402,5372,0252,1862,184 -0.1%
Other Liabilities 15,16213,94314,88017,56816,947 -3.5%
Total Liabilities 45,82743,14944,26749,36948,803 -1.1%
Fixed Assets 14,93213,90313,98214,86415,025 +1.1%
CWIP 1201332127134 +395.6%
Investments 3,3883,2383,1823,4262,608 -23.9%
Other Assets 27,38825,87527,08231,05331,036 -0.1%
Total Assets 45,82743,14944,26749,36948,803 -1.1%

📦 Working Capital (latest 1 periods)

Metric Sep 2026 % Chg
Inventories 95 —
Trade Receivables 6,986 —
Trade Payables 5,132 —

💧 Cash Flow (latest 4 periods)

Metric Mar 2023Mar 2024Mar 2025Mar 2026 % Chg
Cash from Operating Activity 5,5726,3765,7866,172 +6.7%
Cash from Investing Activity -226-1,31820-409 -2145.0%
Cash from Financing Activity -5,078-4,767-5,834-5,130 +12.1%
Net Cash Flow 267291-29632 +2279.3%
Free Cash Flow 4,6035,6395,3035,626 +6.1%
CFO/OP 97%169%104%87% -16.3%

💧 Half-year Cash Flow (latest 1 periods)

Metric Sep 2026 % Chg
Cash from Operating Activity 3,470 —
Cash from Investing Activity 189 —
Cash from Financing Activity -4,031 —
Net Cash Flow -373 —

➗ Ratios (latest 4 periods)

Metric Mar 2023Mar 2024Mar 2025Mar 2026 % Chg
Debtor Days 88808048 -40.0%
Cash Conversion Cycle 88808048 -40.0%
Working Capital Days 28232551 +104.0%
ROCE % 22%12%19%23% +21.1%

👥 Shareholding (latest 5 periods)

Metric Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026 % Chg
Promoters 34.99%34.98%34.97%34.97%34.97% +0.0%
FIIs 23.28%20.60%17.94%18.59%18.66% +0.4%
DIIs 32.13%34.64%37.79%37.34%36.92% -1.1%
Government 0.17%0.17%0.17%0.17%0.17% +0.0%
Public 9.43%9.61%9.14%8.94%9.29% +3.9%
No. of Shareholders 7,48,1767,66,7827,39,8837,38,0557,44,161 +0.8%

⚖️ Peer comparison

Industry: Information Technology Services · 19 companies · full page →
# Company CMP MCap (Cr) P/E Sales TTM NP TTM OPM% NPM% Sales YoY% NP YoY% Qtr Rev Δ% Qtr NP Δ%
1 TCS Tata Consultancy ₹2,303.00 833,246 16.1 283,248 51,858 26.4% 18.3% 4.6% 1.3% 11.2% 14.9%
2 INFY Infosys ₹1,037.70 420,281 14.5 178,650 29,448 21.1% 16.5% 9.6% 10.2% 13.4% 21.0%
3 HCLTECH HCL Technologies ₹1,206.10 326,343 17.8 138,052 18,330 20.6% 13.3% 11.2% -4.3% 11.5% 21.2%
4 WIPRO Wipro ₹166.89 165,105 13.0 97,023 13,223 19.3% 13.6% 4.0% 0.4% 9.1% -1.9%
5 TECHM Tech Mahindra ₹1,614.00 142,984 26.5 61,361 5,571 17.2% 9.1% 7.2% 13.0% 15.6% 34.0%
6 LTM LTM ₹4,275.00 126,737 26.2 43,594 4,844 17.7% 11.1% 11.0% 11.0% 13.1% -2.5%
7 PERSISTENT Persistent Systems ₹5,516.00 86,177 44.9 15,718 1,923 18.3% 12.2% 23.5% 33.2% 29.1% 13.7%
8 COFORGE Coforge ₹1,846.50 81,796 40.2 18,196 1,920 18.7% 10.6% 34.2% 86.6% 49.8% 49.4%
9 MPHASIS Mphasis ₹2,295.00 43,793 22.9 16,532 1,911 18.6% 11.6% 11.6% 9.5% 17.5% 10.7%
10 LTTS L&T Technology ₹3,350.00 35,539 26.9 11,701 1,322 17.7% 11.3% 9.0% 1.4% 2.6% 13.0%
11 TATATECH Tata Technologies ₹765.60 31,087 55.2 6,301 563 15.6% 8.9% 6.5% -19.3% 28.4% 3.6%
12 REDINGTON Redington ₹394.20 30,818 19.0 128,133 1,505 2.0% 1.2% 20.0% -29.5% 34.6% 94.6%
13 HEXT Hexaware Technologies ₹497.00 30,307 22.5 14,420 1,344 15.0% 9.3% — — 17.9% -13.0%
14 ESDS ESDS Software ₹1,672.50 19,604 — — — — — — — 6.9% 12.6%
15 CAMS Computer Age ₹725.20 18,007 — — — — — — — 12.1% 17.6%
16 ECLERX eClerx Services ₹1,899.90 17,484 24.4 4,334 729 25.3% 16.8% 22.3% 30.6% 23.2% 15.7%
17 FSL Firstsource Solutions ₹248.75 17,177 25.8 10,066 671 16.5% 6.7% 20.0% 13.3% 22.9% -1.8%
18 ZENSARTECH Zensar Technologies ₹434.15 9,846 12.7 5,810 777 16.0% 13.4% 7.7% 19.2% 8.9% 1.0%
19 XTRANET Xtranet Technologies ₹331.24 1,732 — — — — — — — 10.5% 78.1%
❓ Frequently asked questions
What was Tech Mahindra Limited's revenue in Q2 FY27?
Tech Mahindra Limited reported revenue of ₹16,180 crore for the quarter ended September 2026 (Q2 FY27), up 15.6% from ₹13,995 crore in the same quarter last year, and up 3.0% sequentially over the June 2026 quarter.
What was Tech Mahindra Limited's net profit in Q2 FY27?
Net profit rose 34.0% year-on-year to ₹1,610 crore, from ₹1,202 crore. Earnings per share (EPS) came in at ₹17.88.
What is TECHM's market capitalisation and P/E ratio?
At the current price of ₹1,790.00, TECHM has a market capitalisation of ₹158,576 crore and a trailing P/E of about 28.5.
Who owns Tech Mahindra Limited? (shareholding pattern)
As of Jun 2026, promoters held 34.97%, foreign institutional investors (FIIs) 18.66%, domestic institutional investors (DIIs) 36.92%, the government 0.17%, public shareholders 9.29% of Tech Mahindra Limited.
TTM ends 2026-09-30. Amounts are ₹ crore unless stated otherwise. Figures are extracted by AI from public quarterly filings; gaps are filled from public market data. Live price refreshed about twice a day from exchange data. Educational information only — not financial advice.
⚠️ How this site is made: Market data pages are computed automatically from NSE/BSE publications and company filings; news articles and announcement analyses are written with AI assistance, with a human in the loop: our editors review what the AI produces. Both can contain errors. Verify with the original sources before any investment decision. Not investment advice; Flash Finance is not SEBI-registered. How we use AI