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 37.3
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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.
₹13,742 Cr
Sales · Sep 2026
+13.9% YoY
₹1,975 Cr
Operating Profit · Sep 2026
+26.8% YoY
14.4%
OPM % · Sep 2026
+11.6% YoY
₹1,614 Cr
Net Profit · Sep 2026
+37.2% YoY
₹16.45
EPS · Sep 2026
+37.1% YoY

📝 Tech Mahindra Limited — results explained

Quarter ended September 2026 (Q2 FY27)

Tech Mahindra Limited reported revenue of ₹13,742 crore for the quarter ended September 2026 (Q2 FY27), up 13.9% from ₹12,068 crore in the same quarter last year, and up 4.0% sequentially over the June 2026 quarter.

Net profit rose 37.2% year-on-year to ₹1,614 crore, from ₹1,176 crore. Earnings per share (EPS) came in at ₹16.45.

Operating profit stood at ₹1,975 crore — an operating margin (OPM) of 14.4%, compared with 12.9% in the year-ago quarter.

Full year and trailing twelve months

For the full year FY26, Tech Mahindra Limited posted revenue of ₹48,927 crore, a growth of 9.7% over FY25, with a net profit of ₹3,859 crore (up 10.1% year-on-year).

On a trailing-twelve-month (TTM) basis, revenue stands at ₹52,225 crore with a net profit of ₹4,257 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 37.3.

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 ?
37.25above ind
Industry P/E ?
25.00
P/B ?
7.47
P/S ?
3.04
P/FCF ?
37.15
Enterprise Value ?
₹160,145 Cr
EV/EBITDA ?
23.13
PEG ?
18.63
Earnings Yield ?
3.7%
Dividend Yield ?
2.85%
Profitability & Returns
Sales (TTM) ?
₹52,225 Cr
OPM ?
13.3%
Profit after tax (TTM) ?
₹4,257 Cr
EPS (TTM) ?
₹48.05
ROCE ?
24.0%
ROE ?
20.0%
ROA ?
11.4%
Growth
Sales — latest qtr ?
₹13,742 Cr
PAT — latest qtr ?
₹1,614 Cr
YoY qtr sales growth ?
13.9%
YoY qtr profit growth ?
37.2%
Sales growth (3y) ?
5%
Sales growth (5y) ?
11%
Profit growth (3y) ?
2%
Profit growth (5y) ?
-1%
Financial Health
Debt ?
₹1,569 Cr
Debt to Equity ?
0.07
Interest Coverage ?
19.4
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 13,73510,93810,69710,44010,69910,58410,78011,07711,17611,58411,59512,06812,30812,95613,21913,742 +13.9% +4.0%
Operating Profit 2,1441,0437873376107591,0031,0461,1771,0311,4171,5571,6621,3281,9591,975 +26.8% +0.8%
Other Income 24780201514258198125870175163394246-110-195-137538 +118.5% +491.6%
Interest 113575458766052666061595772747668 +18.9% -11.1%
Depreciation 498202205206208213211212217216211213219230235240 +12.9% +2.1%
Profit Before Tax 1,7718647295875836838661,6381,0759181,5411,5331,2618281,5102,204 +43.8% +46.0%
Net Profit 1,2856775605565174806571,2808587101,1781,1769645411,1381,614 +37.2% +41.8%
EPS 14.706.955.745.705.294.926.7213.098.777.2612.0312.009.845.5211.6016.45 +37.1% +41.8%
OPM % 15.6% 9.5% 7.4% 3.2% 5.7% 7.2% 9.3% 9.4% 10.5% 8.9% 12.2% 12.9% 13.5% 10.3% 14.8% 14.4% +11.6% -2.7%

📆 Annual results (₹ Cr, FY = Apr–Mar)

Metric FY25 FY26 TTM YoY %
Sales ₹44,617 Cr ₹48,927 Cr ₹52,225 Cr +9.7%
Operating Profit ₹4,257 Cr ₹5,964 Cr ₹6,924 Cr +40.1%
OPM % 9.54% 12.19% 13.26% +27.8%
NPM % 7.86% 7.89% 8.15% +0.4%
Other Income ₹1,333 Cr ₹335 Cr ₹95 Cr -74.9%
Depreciation ₹856 Cr ₹873 Cr ₹925 Cr +2.0%
Interest ₹239 Cr ₹262 Cr ₹290 Cr +9.6%
EBIT ₹3,401 Cr ₹5,091 Cr ₹5,999 Cr +49.7%
PBT ₹4,497 Cr ₹5,163 Cr ₹5,803 Cr +14.8%
Tax — — ₹962 Cr —
Net Profit ₹3,505 Cr ₹3,859 Cr ₹4,257 Cr +10.1%
EPS ₹35.84 ₹39.39 ₹43.41 +9.9%
Material Cost — — — —
Employee Cost — — ₹9,373 Cr —
Extraordinary Items — — — —

🏛️ Balance Sheet (latest 5 periods)

Metric Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026 % Chg
Equity Capital 487488490490490 +0.0%
Reserves 24,71722,61321,93121,23220,746 -2.3%
Borrowings 5795069821,5051,569 +4.3%
Other Liabilities 10,25211,08412,77815,07214,513 -3.7%
Total Liabilities 36,03534,69236,18138,29937,318 -2.6%
Fixed Assets 3,6413,6593,8784,1634,329 +4.0%
CWIP 48941822129 +487.7%
Investments 13,32012,51712,42712,03311,281 -6.2%
Other Assets 19,02618,42219,85922,08121,578 -2.3%
Total Assets 36,03534,69236,18138,29937,318 -2.6%

📦 Working Capital (latest 1 periods)

Metric Sep 2026 % Chg
Trade Receivables 6,170 —
Trade Payables 6,594 —

💧 Cash Flow (latest 4 periods)

Metric Mar 2023Mar 2024Mar 2025Mar 2026 % Chg
Cash from Operating Activity 4,1025,1234,2934,594 +7.0%
Cash from Investing Activity 734-41513432 -15.8%
Cash from Financing Activity -4,992-4,747-4,659-4,899 -5.2%
Net Cash Flow -156334146127 -13.0%
Free Cash Flow 3,5494,7134,0934,269 +4.3%
CFO/OP 116%230%123%94% -23.6%

💧 Half-year Cash Flow (latest 1 periods)

Metric Sep 2026 % Chg
Cash from Operating Activity 2,191 —
Cash from Investing Activity 907 —
Cash from Financing Activity -3,808 —
Net Cash Flow -710 —

➗ Ratios (latest 4 periods)

Metric Mar 2023Mar 2024Mar 2025Mar 2026 % Chg
Debtor Days 89828150 -38.3%
Cash Conversion Cycle 89828150 -38.3%
Working Capital Days 45342442 +75.0%
ROCE % 19%11%18%24% +33.3%

👥 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 ₹13,742 crore for the quarter ended September 2026 (Q2 FY27), up 13.9% from ₹12,068 crore in the same quarter last year, and up 4.0% sequentially over the June 2026 quarter.
What was Tech Mahindra Limited's net profit in Q2 FY27?
Net profit rose 37.2% year-on-year to ₹1,614 crore, from ₹1,176 crore. Earnings per share (EPS) came in at ₹16.45.
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 37.3.
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