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MASTEK - Mastek

📊 NSE: MASTEK 🏢 Computers - Software - Medium / Small 📅 Last Updated: 12/14/2025 9:40

📢 Recent Corporate Announcements

Mastek to Sell Chennai SEZ Asset for Rs 60 Crore

🟢 POSITIVE ⭐ 6/10

OTHER 📅 24 Apr 2026, 08:08 PM

Mastek Limited has entered into a Memorandum of Understanding (MOU) to sell its commercial building and leased land located at Mahindra World City, SEZ, Chennai. The transaction involves a built-up area of approximately 1,57,233 Sq. Ft. on 15.50 acres of land for a total consideration of Rs 60 crore. The buyer, Caresoft Mobility Private Limited, is a non-related party, and the payment will be received in two tranches. This divestment represents a monetization of real estate assets, likely aimed at improving the company's liquidity or capital allocation efficiency.

Sale of commercial building with 1,57,233 Sq. Ft. built-up area on 15.50 acres of leased land.
Total aggregate consideration of Rs 60 crore to be received in two tranches.
Buyer identified as Caresoft Mobility Private Limited, confirming no related party involvement.
Asset located in Mahindra World City, SEZ, Chengalpattu, Chennai.
Transaction is subject to necessary regulatory approvals and SEZ compliances.

💡 Investors should view this as a positive move to unlock value from non-core assets. Watch for updates on the final sale agreement and how the company plans to utilize the Rs 60 crore cash inflow.

Mastek Limited Releases Audio Recording of Q4 and Full Year FY26 Earnings Call

🟡 NEUTRAL ⭐ 3/10

EARNINGS 📅 20 Apr 2026, 06:13 PM

Mastek Limited has officially released the audio recording of its earnings conference call held on April 20, 2026. The call focused on the audited standalone and consolidated financial results for the fiscal year ending March 31, 2026. This disclosure is a standard regulatory requirement to ensure transparency for all shareholders and analysts. Investors can access the recording via the company's website to review management's detailed commentary on the year's performance.

Audio recording for the Q4 and Full Year FY26 earnings call is now available for public access.
The call discussed both standalone and consolidated audited financial results for the period ending March 31, 2026.
The disclosure was filed with BSE and NSE on April 20, 2026, in compliance with SEBI regulations.
The recording link is hosted on the official Mastek website under the investor relations section.

💡 Investors should listen to the recording to understand management's guidance for FY27 and specific commentary on deal wins and margin pressures. This is a routine update and does not require immediate portfolio changes based solely on this filing.

Mastek Q4 Net Profit Jumps 31% YoY to ₹106 Cr; Order Backlog Grows 24% to ₹2,849 Cr

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 17 Apr 2026, 04:30 PM

Mastek reported a resilient Q4FY26 with revenue growing 3.6% YoY to ₹938 crore and a significant 30.9% surge in net profit to ₹106.2 crore. The company's 12-month order backlog reached a robust ₹2,849.2 crore, marking a 24.4% YoY growth, driven by strong performance in the UK and US markets. AI adoption is a key growth driver, with over 25 AI-assisted deals closed in the quarter and a 12% improvement in revenue per employee. The board has recommended a final dividend of ₹16 per share, bringing the total FY26 payout to 480%.

Q4FY26 Net Profit rose 30.9% YoY to ₹106.2 crore, while Revenue from Operations grew 3.6% YoY to ₹938 crore.
12-month order backlog grew by 24.4% YoY in rupee terms to ₹2,849.2 crore ($300.4 mn).
Operating EBITDA margin remained steady at 16.1% for Q4, despite absorbing annual wage revisions.
Closed 25+ AI-assisted deals in Q4, totaling 85+ for FY26, leading to a 12% improvement in revenue per employee.
Recommended a final dividend of ₹16 per share, taking the total dividend for FY26 to 480%.

💡 Investors should focus on the strong 24.4% growth in the order backlog and the successful 'Lead with AI' strategy which is improving productivity. The robust cash balance of ₹938.5 crore and increased dividend payout reflect strong financial health and management confidence.

Mastek Q4FY26: PAT Jumps 30.9% Y-o-Y to ₹106.2 Cr; Order Backlog Surges 24.4%

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 17 Apr 2026, 04:28 PM

Mastek reported a resilient Q4FY26 with revenue growing 3.6% Y-o-Y to ₹938 crore and Net Profit surging 30.9% Y-o-Y to ₹106.2 crore. A key highlight is the 12-month order backlog, which grew significantly by 24.4% Y-o-Y to ₹2,849.2 crore, providing strong revenue visibility for FY27. The company maintained an Operating EBITDA margin of 16.1% and ended the year with a robust cash balance of ₹938.5 crore. Additionally, the board recommended a final dividend of ₹16 per share, totaling 480% for the full year.

Net Profit increased 30.9% Y-o-Y to ₹106.2 crore, despite a marginal 2% sequential decline.
12-month order backlog grew 24.4% Y-o-Y in rupee terms to ₹2,849.2 crore ($300.4 mn).
Operating EBITDA margin stood at 16.1% for Q4, showing resilience against wage revisions.
Strong AI adoption with 25+ new AI deals in Q4, taking the FY26 total to over 85 deals.
Proposed final dividend of ₹16 per share, resulting in a total dividend of ₹32 for FY26.

💡 Investors should take confidence in the 24% growth of the order backlog and the successful 'Lead with AI' strategy which is improving revenue per employee. The strong cash position and increased dividend payout suggest financial stability and a positive outlook for FY27.

Mastek Recommends Final Dividend of Rs. 16 per Share; Total FY26 Dividend at Rs. 24

🟢 POSITIVE ⭐ 7/10

DIVIDEND 📅 17 Apr 2026, 04:00 PM

Mastek Limited's Board has recommended a final dividend of Rs. 16 per equity share for the financial year ended March 31, 2026. When combined with the interim dividend of Rs. 8, the total dividend for FY 2025-26 stands at Rs. 24 per share, marking an increase from Rs. 23 in the previous year. The company also approved its annual audited financial results, which received an unmodified opinion from statutory auditors. The dividend payment is subject to shareholder approval at the upcoming 44th Annual General Meeting.

Recommended final dividend of Rs. 16 per equity share (320% of face value of Rs. 5)
Total dividend for FY 2025-26 is Rs. 24 per share (480%), compared to Rs. 23 (460%) in FY 2024-25
Statutory auditors Walker Chandiok & Co LLP issued an unmodified audit opinion on financial statements
Dividend to be paid within 30 days of approval at the 44th Annual General Meeting
Financial results include the restated impact of the merger with Mastek Enterprise Solutions Private Limited

💡 Investors should hold for the dividend payout which reflects a steady yield and consistent payout policy. Monitor the upcoming announcement regarding the record date to ensure eligibility for the final dividend.

Mastek Recommends Final Dividend of Rs 16; Total FY26 Dividend Rises to Rs 24 Per Share

🟢 POSITIVE ⭐ 8/10

DIVIDEND 📅 17 Apr 2026, 03:58 PM

Mastek Limited has approved its annual audited financial results for the fiscal year ended March 31, 2026. The Board recommended a final dividend of Rs 16 per share (320% of face value), bringing the total dividend for FY26 to Rs 24 per share, up from Rs 23 in the previous year. The statutory auditors issued an unmodified opinion on both standalone and consolidated results. The financials also account for the merger with its wholly-owned subsidiary, Mastek Enterprise Solutions, which was effective from April 1, 2024.

Recommended a final dividend of Rs 16 per share (320% on face value of Rs 5)
Total dividend for FY 2025-26 stands at Rs 24 per share (480%) versus Rs 23 in FY 2024-25
Statutory auditors Walker Chandiok & Co LLP issued an unmodified audit opinion
Financial results restated from April 1, 2024, following the merger with Mastek Enterprise Solutions
Final dividend is subject to shareholder approval at the 44th Annual General Meeting

💡 Investors should view the marginal increase in total dividend as a sign of stable cash flow and shareholder commitment. Monitor the detailed P&L and balance sheet figures once the full annual report is released to assess underlying growth.

Mastek Recommends Rs 16 Final Dividend, Total FY26 Payout Rises to Rs 24 Per Share

🟢 POSITIVE ⭐ 8/10

DIVIDEND 📅 17 Apr 2026, 03:55 PM

Mastek Limited has announced its annual audited financial results for FY 2025-26, recommending a final dividend of Rs 16 per share (320% of face value). This brings the total dividend for the fiscal year to Rs 24 per share, marking an increase from the Rs 23 per share paid in the previous year. The statutory auditors, Walker Chandiok & Co LLP, have issued an unmodified opinion on both standalone and consolidated financial statements. The results also incorporate the impact of the merger with its wholly-owned subsidiary, Mastek Enterprise Solutions, effective from April 1, 2024.

Recommended a final dividend of Rs 16 per equity share (320% on face value of Rs 5).
Total dividend for FY 2025-26 stands at Rs 24 per share, up from Rs 23 in FY 2024-25.
Statutory auditors issued an unmodified opinion on the annual audited financial statements.
Financials restated from April 1, 2024, following the merger with Mastek Enterprise Solutions Private Limited.
The final dividend is subject to shareholder approval at the upcoming 44th Annual General Meeting.

💡 Investors should view the increased total dividend payout as a sign of stable cash flow and management confidence. The clean audit report further reinforces the reliability of the reported financial health.

Mastek to Conduct Non-Deal Roadshow in Mumbai on April 21, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 15 Apr 2026, 07:43 PM

Mastek Limited has announced a Non-Deal Roadshow (NDR) scheduled for April 21, 2026, in Mumbai. The event will feature one-on-one and group meetings between company management and institutional investors from 9:00 AM to 6:00 PM IST. The discussions will be limited to industry and company-specific developments that are already in the public domain. The company has clarified that no unpublished price sensitive information (UPSI) will be shared during these sessions.

Non-Deal Roadshow (NDR) scheduled for April 21, 2026, in Mumbai.
Interaction format includes both one-on-one and group meetings with investors.
Full-day event timing from 09:00 AM to 06:00 PM IST.
Company confirmed no unpublished price sensitive information (UPSI) will be disclosed.
Meetings will focus on publicly available industry and company-specific developments.

💡 This is a routine investor relations activity; shareholders should monitor for any investor presentations or transcripts that may be released following the event.

Mastek Grants 6 Lakh ESOPs to Employees at Exercise Price of Rs. 1,000

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 31 Mar 2026, 10:09 PM

Mastek Limited has approved the grant of 6,00,000 stock options to eligible employees under its ESOP Plan VI and VII, effective April 1, 2026. The exercise price is set at Rs. 1,000 per option, which will be convertible into equity shares of face value Rs. 5 each. The vesting is strictly performance-linked and scheduled to occur in the 3rd, 4th, and 5th years post-grant. This initiative is designed to retain talent and align employee incentives with the company's long-term growth objectives.

Grant of 6,00,000 stock options convertible into an equal number of equity shares.
Exercise price fixed at Rs. 1,000 per option with a face value of Rs. 5 per share.
Performance-linked vesting schedule spread across the 3rd, 4th, and 5th years from the grant date.
Maximum exercise period of 7 years from the date of vesting for eligible employees.
Unvested options will lapse if performance conditions are not met by the 5th year.

💡 Investors should note the potential equity dilution of approximately 6 lakh shares over the next 3-5 years. The performance-linked nature of the vesting is a positive sign of management's focus on achieving specific growth targets.

Mastek Schedules One-on-One Virtual Meeting with Fidelity International

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 30 Mar 2026, 06:52 PM

Mastek Limited has announced a scheduled interaction with Fidelity International on March 31, 2026. The meeting is a one-on-one virtual session set for 3:30 PM. The discussion will revolve around industry and company-specific developments that are already in the public domain. The company has explicitly stated that no unpublished price sensitive information (UPSI) will be shared during this interaction.

One-on-one virtual meeting scheduled with Fidelity International on March 31, 2026.
The meeting is timed for 3:30 PM and follows SEBI Regulation 30 guidelines.
Discussion is limited to information already available in the public domain.
The company confirmed that no unpublished price sensitive information (UPSI) will be disclosed.

💡 As this is a routine investor interaction with no new material information expected, no immediate action is required. Investors may monitor for any subsequent investor presentations or transcripts if released by the company.

Mastek Limited Announces Trading Window Closure from March 31, 2026, for Annual Results

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 25 Mar 2026, 12:52 PM

Mastek Limited has announced the closure of its trading window starting March 31, 2026, in compliance with SEBI (Prohibition of Insider Trading) Regulations. This closure is specifically for the preparation and declaration of the company's financial results for the fiscal year ending March 31, 2026. The window will remain closed for all designated persons and their immediate relatives until 48 hours after the results are officially submitted to the stock exchanges. This is a standard regulatory procedure and does not indicate any fundamental change in the company's operations.

Trading window closure begins on March 31, 2026.
Closure is in connection with the financial results for the year ending March 31, 2026.
The window will reopen 48 hours after the financial results are declared and submitted to BSE and NSE.
The date for the Board Meeting to approve the results will be communicated separately in due course.

💡 No action is required as this is a routine regulatory filing. Investors should look out for the upcoming announcement regarding the specific date of the Board Meeting for the FY26 earnings release.

Mastek Schedules One-on-One Investor Meets with Anand Rathi and ICICI Direct

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 18 Mar 2026, 08:07 PM

Mastek Limited has announced a schedule for one-on-one investor meetings on March 19, 2026, in Mumbai. The company will meet with representatives from Anand Rathi Share and Stock Brokers Ltd. at 10:00 AM and ICICI Direct Ltd. at 11:30 AM. These interactions are intended to discuss industry and company-specific developments that are already in the public domain. The company confirmed that no unpublished price sensitive information (UPSI) will be shared during these meetings.

Two one-on-one investor meetings scheduled for March 19, 2026, in Mumbai.
Interactions planned with Anand Rathi Share and Stock Brokers Ltd. and ICICI Direct Ltd.
Discussions limited to publicly available industry and company-specific information.
Compliance notification issued under Regulation 30 of SEBI (LODR) Regulations, 2015.

💡 This is a routine disclosure of investor relations activity. No immediate action is required, but investors may look for subsequent research notes from these brokerages for updated perspectives on the company.

Mastek Schedules Investor Meetings with Macquarie and B&K Securities on March 18

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 17 Mar 2026, 07:59 PM

Mastek Limited has announced a schedule for one-on-one investor meetings in Mumbai on March 18, 2026. The company is set to meet with Macquarie Capital Securities at 11:00 AM and Batlivala & Karani Securities at 12:30 PM. These interactions will focus on industry and company-specific developments that are already available in the public domain. The company has explicitly stated that no unpublished price sensitive information (UPSI) will be shared during these meetings.

Two separate one-on-one investor meetings scheduled for March 18, 2026, in Mumbai.
Interaction with Macquarie Capital Securities (India) Pvt. Ltd. at 11:00 AM.
Interaction with Batlivala & Karani Securities India Pvt. Ltd. at 12:30 PM.
Discussions will be limited to publicly available industry and company-specific information.
No unpublished price sensitive information (UPSI) is proposed to be shared.

💡 No immediate action is required as these are routine investor relations activities. Investors should monitor the company's website for any subsequent presentations or disclosures following these meetings.

Mastek Secures £15 Million Digital Engineering Contract with UK's Financial Conduct Authority

🟢 POSITIVE ⭐ 7/10

EXPANSION 📅 17 Mar 2026, 10:07 AM

Mastek's UK subsidiary has secured a £15 million contract with the Financial Conduct Authority (FCA) to support its Digital Delivery Hub. The initial engagement is for two years, with a potential for a two-year extension, focusing on engineering and development work. This partnership underscores Mastek's expertise in handling complex, compliance-heavy transformation programs for critical national infrastructure. The deal aligns with the UK government's regulatory modernization efforts and strengthens Mastek's footprint in the UK public sector.

Initial contract value of £15 million over a two-year period.
Potential for a 2-year extension beyond the initial term.
Project involves supporting the FCA’s Digital Delivery Hub for engineering and development work.
Strengthens Mastek's presence in the UK public sector and regulatory modernization space.
The contract is part of the UK's Critical National Importance agenda for financial infrastructure.

💡 This contract win provides revenue visibility and enhances Mastek's reputation in the high-margin UK public sector. Investors should maintain a positive outlook as the company continues to win specialized digital transformation deals.

Mastek Schedules One-on-One Investor Meets with Avendus Spark and Emkay Global

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 16 Mar 2026, 07:28 PM

Mastek Limited has scheduled two one-on-one investor meetings on March 17, 2026, in Mumbai. The company will interact with Avendus Spark Institutional Equities at 12:30 PM and Emkay Global Financial Services at 03:00 PM. These meetings are part of routine investor relations to discuss industry and company-specific developments already in the public domain. The company has explicitly stated that no unpublished price-sensitive information (UPSI) will be shared during these sessions.

Two one-on-one investor meetings scheduled for March 17, 2026, in Mumbai.
Interaction with Avendus Spark Institutional Equities Pvt. Ltd. at 12:30 PM.
Interaction with Emkay Global Financial Services Ltd. at 03:00 PM.
Discussions limited to publicly available industry and company-specific developments.
No unpublished price-sensitive information (UPSI) to be disclosed during the meets.

💡 No immediate action is required as these are routine investor interactions. Investors may monitor the company's website for any subsequent presentation materials or transcripts if released.

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💰 Financial Performance

Revenue Growth by Segment

The Public Sector vertical is the largest contributor at ~41% of revenue, followed by Healthcare at ~17% and Retail/Financial services at ~15%. Consolidated revenue for FY25 reached INR 3,455.23 Cr, representing a 13.1% YoY increase from INR 3,054.79 Cr in FY24. Growth was driven by healthy momentum in the UK public sector and US healthcare segments.

Geographic Revenue Split

The UK and Europe region accounts for 56.9% of revenue (down from 68.0% in FY22), while the US market has grown to 27.2% (up from 16.7% in FY21). Other regions contribute the remaining balance. This shift reflects a strategic push to diversify away from UK public sector concentration through US-based acquisitions like MST Solutions and BizAnalytica.

Profitability Margins

Net Profit for FY25 was INR 375.93 Cr, a 20.9% increase YoY. Net margins improved due to cost efficiencies and a reversal of contingent consideration provisions for North America operations. However, operating margins in 9M FY23 had previously dipped to 17.8% from 21.2% in FY22 due to high wage inflation and attrition.

EBITDA Margin

Operating EBITDA for FY25 stood at INR 546.45 Cr, representing a margin of 15.8%, which is a 7% increase in absolute terms YoY. Total EBITDA (including other income) was INR 568.73 Cr, up 8% YoY. Margins are expected to stabilize between 16-17% in the medium term as acquisition synergies and cost optimizations offset wage pressures.

Capital Expenditure

Not explicitly disclosed as a single 'planned' figure, but the company invested $18.01 million (approx. INR 150 Cr) for the BizAnalytica acquisition in 2023 and has earnout/put-option liabilities totaling over INR 221 Cr due between FY23 and FY26.

Credit Rating & Borrowing

The company maintains a healthy credit profile with an ICRA 'Stable' outlook. Borrowing costs are influenced by an aggregate debt of ~INR 643 Cr as of September 30, 2024, which increased from INR 486 Cr in March 2024 to fund inorganic growth. Debt protection metrics remain comfortable with a gearing of 0.3 times.

⚙️ Operational Drivers

Raw Materials

Not applicable for IT services; the primary cost driver is Human Capital (Employee Expenses), which accounted for INR 1,859.03 Cr in FY25, representing 53.8% of total revenue.

Import Sources

Not applicable as Mastek is a service-based IT firm; however, talent is sourced globally with major delivery centers in India, the UK, and the US.

Key Suppliers

Not applicable for IT services. The company relies on technology partners like Oracle (Oracle suite and cloud migration) and Salesforce (via MST Solutions acquisition) for service delivery.

Capacity Expansion

Capacity is measured by headcount and order backlog. The 12-month order backlog stood at INR 2,067.6 Cr ($248.5 million) as of December 31, 2023, a 21.2% increase YoY, providing strong revenue visibility.

Raw Material Costs

Employee expenses (the 'raw material' of IT) rose 11% YoY to INR 1,859.03 Cr in FY25. Procurement strategy focuses on talent acquisition and retention in a highly competitive market to mitigate high attrition rates.

Manufacturing Efficiency

Measured by 'optimal resource utilization' and 'cost efficiencies' which supported the 21% growth in PAT for FY25. Utilization rates are managed to balance bench strength with project demands.

Logistics & Distribution

Not applicable for IT services; distribution is digital and global.

📈 Strategic Growth

Expected Growth Rate

10.60%

Growth Strategy

Growth will be achieved through geographic diversification, specifically increasing US market contribution (targeting a rise from the current 27.2%). The strategy includes integrating BizAnalytica for data/analytics capabilities, leveraging the INR 2,067.6 Cr order backlog, and mining existing clients in the UK Public Sector and Healthcare verticals.

Products & Services

Enterprise digital and cloud transformation services, Oracle suite and cloud migration, digital commerce, BI & analytics, application development, and agile consulting.

Brand Portfolio

Mastek, MST Solutions (a Mastek company), BizAnalytica (a Mastek company).

New Products/Services

Expansion into Cloud-native data services via BizAnalytica and enhanced Salesforce capabilities via MST Solutions, expected to drive the US revenue share higher.

Market Expansion

Targeting the US market to reduce UK dependency; US revenue contribution increased from 16.7% in FY21 to 27.2% in FY24.

Market Share & Ranking

Not disclosed in absolute %; however, noted as a 'prominent player' in the UK Public Sector IT services market.

Strategic Alliances

Strong partnerships with Oracle for cloud migration and Salesforce for digital transformation.

🌍 External Factors

Industry Trends

The industry is shifting toward cloud-native transformation and data analytics. Mastek is positioning itself as a specialist in 'Enterprise Digital Transformation' to move away from legacy maintenance and capture higher-margin consulting work.

Competitive Landscape

Faces stiff competition from large global IT service providers (e.g., TCS, Infosys, Accenture) which leads to constant pricing and margin pressure.

Competitive Moat

Durable advantage stems from a 30-year execution track record with the UK Government and NHS. This 'switching cost' and 'reputational moat' makes it difficult for competitors to displace them in critical public infrastructure projects.

Macro Economic Sensitivity

Highly sensitive to UK public spending budgets and global GDP growth which affects IT discretionary spending.

Consumer Behavior

Shift toward 'digital-first' and 'cloud-only' models in the public sector is driving demand for Mastek's core transformation services.

Geopolitical Risks

Changes in UK immigration laws and trade policies post-Brexit could impact talent mobility and service delivery costs.

⚖️ Regulatory & Governance

Industry Regulations

Subject to data protection laws (GDPR in UK/Europe) and immigration laws affecting H1-B/work visas. Compliance with SEBI Listing Regulations and the Companies Act 2013 is maintained.

Environmental Compliance

Direct exposure to environmental risk is 'not material' due to the service-oriented nature of the business.

Taxation Policy Impact

Effective tax obligations include INR 40.37 Cr in overseas jurisdictions and domestic corporate tax receivables of INR 22.07 Cr.

Legal Contingencies

Pending put-option liability of ~INR 121 Cr for Trans American Information Systems and earnout payments of ~INR 100 Cr over the next two years.

⚠️ Risk Analysis

Key Uncertainties

UK Government policy shifts on IT spending could impact up to 57% of revenue. Wage inflation and talent retention remain persistent risks to the 16-17% margin target.