Mastek Ltd: Share Price Analysis, Intrinsic Value & Fundamentals (2025)

Share Price and Basic Stock Data

Last Updated: March 8, 2025, 1:24 pm

Market Cap	7,440 Cr.
Current Price	2,409
High / Low	3,375/2,061
Stock P/E	19.8
Book Value	740
Dividend Yield	0.79 %
ROCE	18.0 %
ROE	15.9 %
Face Value	5.00
PEG Ratio	2.30

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

View Share Price Target for Mastek Ltd

Competitors of Mastek Ltd

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
Visesh Infotecnics Ltd	125 Cr.	0.33	0.57/0.33		1.14	0.00 %	0.88 %	0.82 %	1.00
Mudunuru Ltd	22.6 Cr.	7.23	15.6/5.41		0.34	0.00 %	72.9 %	374 %	2.00
Naapbooks Ltd	94.7 Cr.	105	159/54.0	40.6	20.0	0.00 %	17.4 %	13.6 %	10.0
IB Infotech Enterprises Ltd	21.1 Cr.	165	245/113	27.1	16.8	0.61 %	69.9 %	50.5 %	10.0
Hit Kit Global Solutions Ltd	7.19 Cr.	1.55	1.55/0.91	20.0	2.08	0.00 %	1.92 %	1.94 %	2.00
Industry Average	19,195.34 Cr	566.73		79.98	121.67	0.84%	21.53%	64.55%	6.83

All Competitor Stocks of Mastek Ltd

Quarterly Result

Metric	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
Sales	552	582	570	625	659	709	725	766	784	780	813	867	870
Expenses	436	461	461	518	545	584	598	642	651	655	689	724	729
Operating Profit	116	121	109	107	114	126	127	123	134	125	124	143	141
OPM %	21%	21%	19%	17%	17%	18%	18%	16%	17%	16%	15%	16%	16%
Other Income	6	18	26	32	6	-0	2	1	3	5	4	17	13
Interest	2	3	2	5	8	9	9	13	13	9	9	11	12
Depreciation	11	12	11	17	20	20	20	21	22	27	20	20	17
Profit before tax	110	124	122	117	92	96	100	90	102	94	99	129	126
Tax %	24%	29%	31%	27%	27%	25%	27%	28%	24%	-1%	28%	0%	25%
Net Profit	83	88	84	86	67	73	74	65	78	94	72	129	95
EPS in Rs	24.77	26.62	25.68	26.30	21.33	23.77	22.91	20.50	24.56	29.85	23.18	41.68	30.67

Last Updated: February 28, 2025, 6:29 pm

Below is a detailed analysis of the quarterly data for Mastek Ltd based on the most recent figures (Dec 2024) and their trends compared to the previous period:

For Sales, as of Dec 2024, the value is ₹870.00 Cr.. The value appears strong and on an upward trend. It has increased from 867.00 Cr. (Sep 2024) to ₹870.00 Cr., marking an increase of ₹3.00 Cr..
For Expenses, as of Dec 2024, the value is ₹729.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 724.00 Cr. (Sep 2024) to ₹729.00 Cr., marking an increase of ₹5.00 Cr..
For Operating Profit, as of Dec 2024, the value is ₹141.00 Cr.. The value appears to be declining and may need further review. It has decreased from 143.00 Cr. (Sep 2024) to ₹141.00 Cr., marking a decrease of 2.00 Cr..
For OPM %, as of Dec 2024, the value is 16.00%. The value remains steady. There is no change compared to the previous period (Sep 2024) which recorded 16.00%.
For Other Income, as of Dec 2024, the value is ₹13.00 Cr.. The value appears to be declining and may need further review. It has decreased from 17.00 Cr. (Sep 2024) to ₹13.00 Cr., marking a decrease of 4.00 Cr..
For Interest, as of Dec 2024, the value is ₹12.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 11.00 Cr. (Sep 2024) to ₹12.00 Cr., marking an increase of ₹1.00 Cr..
For Depreciation, as of Dec 2024, the value is ₹17.00 Cr.. The value appears to be improving (decreasing) as expected. It has decreased from 20.00 Cr. (Sep 2024) to ₹17.00 Cr., marking a decrease of 3.00 Cr..
For Profit before tax, as of Dec 2024, the value is ₹126.00 Cr.. The value appears to be declining and may need further review. It has decreased from 129.00 Cr. (Sep 2024) to ₹126.00 Cr., marking a decrease of 3.00 Cr..
For Tax %, as of Dec 2024, the value is 25.00%. The value appears to be increasing, which may not be favorable. It has increased from 0.00% (Sep 2024) to 25.00%, marking an increase of 25.00%.
For Net Profit, as of Dec 2024, the value is ₹95.00 Cr.. The value appears to be declining and may need further review. It has decreased from 129.00 Cr. (Sep 2024) to ₹95.00 Cr., marking a decrease of 34.00 Cr..
For EPS in Rs, as of Dec 2024, the value is 30.67. The value appears to be declining and may need further review. It has decreased from ₹41.68 (Sep 2024) to 30.67, marking a decrease of ₹11.01.

Overall, while many items appear to show a positive trend, any significant downward movement warrant further investigation.

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: March 6, 2025, 3:32 pm

Metric	Mar 2013n n 9m	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Sales	683	923	1,013	527	560	817	1,033	1,071	1,722	2,184	2,563	3,055	3,330
Expenses	626	833	965	509	515	718	902	916	1,357	1,721	2,108	2,546	2,797
Operating Profit	57	90	47	18	45	100	132	156	364	463	456	509	533
OPM %	8%	10%	5%	3%	8%	12%	13%	15%	21%	21%	18%	17%	16%
Other Income	9	11	14	15	12	21	25	17	28	36	64	12	40
Interest	0	1	1	0	4	6	6	4	8	8	25	44	42
Depreciation	22	33	37	16	15	19	17	25	45	43	67	90	84
Profit before tax	44	68	22	16	39	96	133	144	339	448	427	386	447
Tax %	22%	24%	20%	17%	17%	27%	24%	21%	26%	26%	27%	19%
Net Profit	34	52	18	14	32	70	101	114	252	333	310	311	389
EPS in Rs	13.93	23.37	7.86	5.97	13.86	29.53	42.33	44.82	82.97	98.32	95.99	97.36	125.38
Dividend Payout %	22%	19%	32%	42%	25%	20%	20%	18%	17%	19%	20%	20%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024
YoY Net Profit Growth (%)	-65.38%	-22.22%	128.57%	118.75%	44.29%	12.87%	121.05%	32.14%	-6.91%	0.32%
Change in YoY Net Profit Growth (%)	0.00%	43.16%	150.79%	-9.82%	-74.46%	-31.41%	108.18%	-88.91%	-39.05%	7.23%

Mastek Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 10 years from 2014-2015 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:	13%
5 Years:	24%
3 Years:	21%
TTM:	12%

Compounded Profit Growth
10 Years:	20%
5 Years:	26%
3 Years:	14%
TTM:	33%

Stock Price CAGR
10 Years:	18%
5 Years:	53%
3 Years:	-7%
1 Year:	-12%

Return on Equity
10 Years:	17%
5 Years:	20%
3 Years:	20%
Last Year:	16%

Last Updated: Unknown

Balance Sheet

Last Updated: November 14, 2024, 8:33 pm

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	12	11	11	12	12	12	12	12	13	15	15	15	15
Reserves	521	549	585	308	457	537	704	778	846	1,056	1,668	2,072	2,270
Borrowings	2	2	29	0	66	70	70	335	273	203	404	519	671
Other Liabilities	207	192	207	108	170	202	179	763	1,146	1,193	1,024	1,045	725
Total Liabilities	742	754	832	428	705	821	966	1,888	2,277	2,467	3,111	3,652	3,682
Fixed Assets	247	261	279	66	180	179	167	857	807	841	1,740	1,950	1,796
CWIP	3	0	1	0	0	2	1	2	2	4	7	1	1
Investments	40	84	54	50	274	284	396	276	234	26	69	94	105
Other Assets	452	409	498	312	251	356	401	754	1,235	1,596	1,296	1,607	1,780
Total Assets	742	754	832	428	705	821	966	1,888	2,277	2,467	3,111	3,652	3,682

Below is a detailed analysis of the balance sheet data for Mastek Ltd based on the most recent figures (Sep 2024) and their trends compared to the previous period:

For Equity Capital, as of Sep 2024, the value is ₹15.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2024) which recorded ₹15.00 Cr..
For Reserves, as of Sep 2024, the value is ₹2,270.00 Cr.. The value appears strong and on an upward trend. It has increased from ₹2,072.00 Cr. (Mar 2024) to ₹2,270.00 Cr., marking an increase of 198.00 Cr..
For Borrowings, as of Sep 2024, the value is ₹671.00 Cr.. The value appears to be increasing, which may not be favorable. Additionally, since Reserves exceed Borrowings, this is considered a positive sign. It has increased from ₹519.00 Cr. (Mar 2024) to ₹671.00 Cr., marking an increase of 152.00 Cr..
For Other Liabilities, as of Sep 2024, the value is ₹725.00 Cr.. The value appears to be improving (decreasing). It has decreased from ₹1,045.00 Cr. (Mar 2024) to ₹725.00 Cr., marking a decrease of 320.00 Cr..
For Total Liabilities, as of Sep 2024, the value is ₹3,682.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from ₹3,652.00 Cr. (Mar 2024) to ₹3,682.00 Cr., marking an increase of 30.00 Cr..
For Fixed Assets, as of Sep 2024, the value is ₹1,796.00 Cr.. The value appears to be declining and may need further review. It has decreased from ₹1,950.00 Cr. (Mar 2024) to ₹1,796.00 Cr., marking a decrease of 154.00 Cr..
For CWIP, as of Sep 2024, the value is ₹1.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2024) which recorded ₹1.00 Cr..
For Investments, as of Sep 2024, the value is ₹105.00 Cr.. The value appears strong and on an upward trend. It has increased from ₹94.00 Cr. (Mar 2024) to ₹105.00 Cr., marking an increase of 11.00 Cr..
For Other Assets, as of Sep 2024, the value is ₹1,780.00 Cr.. The value appears strong and on an upward trend. It has increased from ₹1,607.00 Cr. (Mar 2024) to ₹1,780.00 Cr., marking an increase of 173.00 Cr..
For Total Assets, as of Sep 2024, the value is ₹3,682.00 Cr.. The value appears strong and on an upward trend. It has increased from ₹3,652.00 Cr. (Mar 2024) to ₹3,682.00 Cr., marking an increase of 30.00 Cr..

Notably, the Reserves (₹2,270.00 Cr.) exceed the Borrowings (671.00 Cr.), indicating a solid financial buffer.

Overall, while many items appear to show a positive trend, any significant downward movement or items where Borrowings exceed Reserves warrant further investigation.

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Cash from Operating Activity +	80	89	59	32	43	65	75	184	287	273	108	420
Cash from Investing Activity +	-12	-62	-28	-84	-127	-18	-54	-262	218	-26	-719	-249
Cash from Financing Activity +	-43	-67	22	-4	65	-7	-16	205	-118	-128	93	2
Net Cash Flow	26	-40	53	-57	-20	40	5	127	387	119	-519	173

Free Cash Flow

Month	Mar 2013n n 9m	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Free Cash Flow	57.00	88.00	18.00	18.00	-21.00	30.00	62.00	-179.00	91.00	260.00	52.00	-10.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	80	46	48	67	55	78	74	108	79	73	72	67
Inventory Days
Days Payable
Cash Conversion Cycle	80	46	48	67	55	78	74	108	79	73	72	67
Working Capital Days	40	26	28	38	29	17	38	30	-19	-7	50	21
ROCE %		12%	5%	3%	10%	17%	19%	16%	26%	32%	23%	18%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
Promoters	37.30%	37.31%	37.28%	37.27%	36.75%	36.58%	36.50%	36.48%	36.26%	36.25%	36.24%	36.23%
FIIs	6.62%	8.01%	13.04%	13.25%	13.14%	13.42%	13.93%	14.10%	14.40%	14.03%	8.14%	9.40%
DIIs	6.65%	5.71%	3.73%	3.90%	4.80%	5.85%	5.99%	6.41%	7.07%	7.10%	10.41%	9.27%
Public	49.43%	48.96%	45.96%	45.58%	45.30%	44.14%	43.56%	43.01%	42.26%	42.59%	45.22%	45.09%
No. of Shareholders	1,04,376	1,06,180	1,10,445	1,07,613	1,05,043	1,05,471	94,081	90,284	84,949	91,456	88,676	1,06,608

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
ICICI Prudential Technology Fund	250,560	0.51	55.34	42	2025-03-11	596471.43%
Tata Digital India Fund	155,070	0.43	36.82	42	2025-03-11	369114.29%
Nippon India Nifty Smallcap 250 Index Fund	9,532	0.27	2.26	42	2025-03-11	22595.24%
Motilal Oswal Nifty Smallcap 250 Index Fund	5,824	0.27	1.38	42	2025-03-11	13766.67%
SBI Nifty Smallcap 250 Index Fund	4,560	0.27	1.08	42	2025-03-11	10757.14%
Quantum Small Cap Fund	2,071	1.71	0.49	42	2025-03-11	4830.95%
Motilal Oswal Nifty 500 Index Fund	633	0.03	0.15	42	2025-03-11	1407.14%
Edelweiss Nifty Smallcap 250 Index Fund	239	0.27	0.06	42	2025-03-11	469.05%
Groww Nifty Total Market Index Fund	42	0.02	0.01	42	2025-03-11	0%
Motilal Oswal Nifty 500 ETF	27	0.02	0.01	42	2025-03-11	-35.71%

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
FaceValue	5.00	5.00	5.00	5.00	5.00
Basic EPS (Rs.)	98.01	97.23	106.52	84.92	45.21
Diluted EPS (Rs.)	97.25	95.53	106.52	81.88	42.93
Cash EPS (Rs.)	129.99	123.74	125.35	117.55	57.13
Book Value[Excl.RevalReserv]/Share (Rs.)	676.85	581.42	406.96	336.32	303.06
Book Value[Incl.RevalReserv]/Share (Rs.)	676.85	581.42	406.96	336.32	303.06
Revenue From Operations / Share (Rs.)	990.53	839.90	727.46	682.19	441.30
PBDIT / Share (Rs.)	170.13	161.91	166.09	155.46	81.00
PBIT / Share (Rs.)	140.98	139.83	151.81	137.65	70.75
PBT / Share (Rs.)	125.22	140.03	149.25	134.44	59.34
Net Profit / Share (Rs.)	100.83	101.66	111.07	99.74	46.87
NP After MI And SOA / Share (Rs.)	97.37	96.01	98.31	82.94	44.84
PBDIT Margin (%)	17.17	19.27	22.83	22.78	18.35
PBIT Margin (%)	14.23	16.64	20.86	20.17	16.03
PBT Margin (%)	12.64	16.67	20.51	19.70	13.44
Net Profit Margin (%)	10.17	12.10	15.26	14.62	10.62
NP After MI And SOA Margin (%)	9.83	11.43	13.51	12.15	10.15
Return on Networth / Equity (%)	14.38	17.40	27.54	17.93	13.44
Return on Capital Employeed (%)	16.75	17.74	27.85	22.21	11.97
Return On Assets (%)	8.14	9.32	11.86	9.11	5.72
Long Term Debt / Equity (X)	0.15	0.15	0.11	0.16	0.29
Total Debt / Equity (X)	0.23	0.22	0.17	0.16	0.38
Asset Turnover Ratio (%)	0.89	0.18	0.17	0.16	0.24
Current Ratio (X)	1.42	1.69	1.78	1.87	1.85
Quick Ratio (X)	1.42	1.69	1.78	1.87	1.85
Dividend Payout Ratio (NP) (%)	19.39	19.59	16.10	6.50	28.91
Dividend Payout Ratio (CP) (%)	14.92	15.93	14.06	5.35	23.53
Earning Retention Ratio (%)	80.61	80.41	83.90	93.50	71.09
Cash Earning Retention Ratio (%)	85.08	84.07	85.94	94.65	76.47
Interest Coverage Ratio (X)	11.80	19.99	64.92	48.44	54.33
Interest Coverage Ratio (Post Tax) (X)	8.09	12.53	44.41	32.08	39.09
Enterprise Value (Cr.)	7924.50	4956.73	9576.73	2360.43	479.67
EV / Net Operating Revenue (X)	2.59	1.93	4.39	1.37	0.44
EV / EBITDA (X)	15.10	10.03	19.21	6.02	2.44
MarketCap / Net Operating Revenue (X)	2.56	1.83	4.56	1.79	0.42
Retention Ratios (%)	80.60	80.40	83.89	93.49	71.08
Price / BV (X)	3.75	2.79	9.30	2.64	0.56
Price / Net Operating Revenue (X)	2.56	1.83	4.56	1.79	0.42
EarningsYield	0.03	0.06	0.02	0.06	0.23

After reviewing the key financial ratios for Mastek Ltd, here is a detailed analysis based on the latest available data and recent trends:

For FaceValue, as of Mar 24, the value is 5.00. This value is within the healthy range. There is no change compared to the previous period (Mar 23) which recorded 5.00.
For Basic EPS (Rs.), as of Mar 24, the value is 98.01. This value is within the healthy range. It has increased from 97.23 (Mar 23) to 98.01, marking an increase of 0.78.
For Diluted EPS (Rs.), as of Mar 24, the value is 97.25. This value is within the healthy range. It has increased from 95.53 (Mar 23) to 97.25, marking an increase of 1.72.
For Cash EPS (Rs.), as of Mar 24, the value is 129.99. This value is within the healthy range. It has increased from 123.74 (Mar 23) to 129.99, marking an increase of 6.25.
For Book Value[Excl.RevalReserv]/Share (Rs.), as of Mar 24, the value is 676.85. It has increased from 581.42 (Mar 23) to 676.85, marking an increase of 95.43.
For Book Value[Incl.RevalReserv]/Share (Rs.), as of Mar 24, the value is 676.85. It has increased from 581.42 (Mar 23) to 676.85, marking an increase of 95.43.
For Revenue From Operations / Share (Rs.), as of Mar 24, the value is 990.53. It has increased from 839.90 (Mar 23) to 990.53, marking an increase of 150.63.
For PBDIT / Share (Rs.), as of Mar 24, the value is 170.13. This value is within the healthy range. It has increased from 161.91 (Mar 23) to 170.13, marking an increase of 8.22.
For PBIT / Share (Rs.), as of Mar 24, the value is 140.98. This value is within the healthy range. It has increased from 139.83 (Mar 23) to 140.98, marking an increase of 1.15.
For PBT / Share (Rs.), as of Mar 24, the value is 125.22. This value is within the healthy range. It has decreased from 140.03 (Mar 23) to 125.22, marking a decrease of 14.81.
For Net Profit / Share (Rs.), as of Mar 24, the value is 100.83. This value is within the healthy range. It has decreased from 101.66 (Mar 23) to 100.83, marking a decrease of 0.83.
For NP After MI And SOA / Share (Rs.), as of Mar 24, the value is 97.37. This value is within the healthy range. It has increased from 96.01 (Mar 23) to 97.37, marking an increase of 1.36.
For PBDIT Margin (%), as of Mar 24, the value is 17.17. This value is within the healthy range. It has decreased from 19.27 (Mar 23) to 17.17, marking a decrease of 2.10.
For PBIT Margin (%), as of Mar 24, the value is 14.23. This value is within the healthy range. It has decreased from 16.64 (Mar 23) to 14.23, marking a decrease of 2.41.
For PBT Margin (%), as of Mar 24, the value is 12.64. This value is within the healthy range. It has decreased from 16.67 (Mar 23) to 12.64, marking a decrease of 4.03.
For Net Profit Margin (%), as of Mar 24, the value is 10.17. This value exceeds the healthy maximum of 10. It has decreased from 12.10 (Mar 23) to 10.17, marking a decrease of 1.93.
For NP After MI And SOA Margin (%), as of Mar 24, the value is 9.83. This value is within the healthy range. It has decreased from 11.43 (Mar 23) to 9.83, marking a decrease of 1.60.
For Return on Networth / Equity (%), as of Mar 24, the value is 14.38. This value is below the healthy minimum of 15. It has decreased from 17.40 (Mar 23) to 14.38, marking a decrease of 3.02.
For Return on Capital Employeed (%), as of Mar 24, the value is 16.75. This value is within the healthy range. It has decreased from 17.74 (Mar 23) to 16.75, marking a decrease of 0.99.
For Return On Assets (%), as of Mar 24, the value is 8.14. This value is within the healthy range. It has decreased from 9.32 (Mar 23) to 8.14, marking a decrease of 1.18.
For Long Term Debt / Equity (X), as of Mar 24, the value is 0.15. This value is below the healthy minimum of 0.2. There is no change compared to the previous period (Mar 23) which recorded 0.15.
For Total Debt / Equity (X), as of Mar 24, the value is 0.23. This value is within the healthy range. It has increased from 0.22 (Mar 23) to 0.23, marking an increase of 0.01.
For Asset Turnover Ratio (%), as of Mar 24, the value is 0.89. It has increased from 0.18 (Mar 23) to 0.89, marking an increase of 0.71.
For Current Ratio (X), as of Mar 24, the value is 1.42. This value is below the healthy minimum of 1.5. It has decreased from 1.69 (Mar 23) to 1.42, marking a decrease of 0.27.
For Quick Ratio (X), as of Mar 24, the value is 1.42. This value is within the healthy range. It has decreased from 1.69 (Mar 23) to 1.42, marking a decrease of 0.27.
For Dividend Payout Ratio (NP) (%), as of Mar 24, the value is 19.39. This value is below the healthy minimum of 20. It has decreased from 19.59 (Mar 23) to 19.39, marking a decrease of 0.20.
For Dividend Payout Ratio (CP) (%), as of Mar 24, the value is 14.92. This value is below the healthy minimum of 20. It has decreased from 15.93 (Mar 23) to 14.92, marking a decrease of 1.01.
For Earning Retention Ratio (%), as of Mar 24, the value is 80.61. This value exceeds the healthy maximum of 70. It has increased from 80.41 (Mar 23) to 80.61, marking an increase of 0.20.
For Cash Earning Retention Ratio (%), as of Mar 24, the value is 85.08. This value exceeds the healthy maximum of 70. It has increased from 84.07 (Mar 23) to 85.08, marking an increase of 1.01.
For Interest Coverage Ratio (X), as of Mar 24, the value is 11.80. This value is within the healthy range. It has decreased from 19.99 (Mar 23) to 11.80, marking a decrease of 8.19.
For Interest Coverage Ratio (Post Tax) (X), as of Mar 24, the value is 8.09. This value is within the healthy range. It has decreased from 12.53 (Mar 23) to 8.09, marking a decrease of 4.44.
For Enterprise Value (Cr.), as of Mar 24, the value is 7,924.50. It has increased from 4,956.73 (Mar 23) to 7,924.50, marking an increase of 2,967.77.
For EV / Net Operating Revenue (X), as of Mar 24, the value is 2.59. This value is within the healthy range. It has increased from 1.93 (Mar 23) to 2.59, marking an increase of 0.66.
For EV / EBITDA (X), as of Mar 24, the value is 15.10. This value exceeds the healthy maximum of 15. It has increased from 10.03 (Mar 23) to 15.10, marking an increase of 5.07.
For MarketCap / Net Operating Revenue (X), as of Mar 24, the value is 2.56. This value is within the healthy range. It has increased from 1.83 (Mar 23) to 2.56, marking an increase of 0.73.
For Retention Ratios (%), as of Mar 24, the value is 80.60. This value exceeds the healthy maximum of 70. It has increased from 80.40 (Mar 23) to 80.60, marking an increase of 0.20.
For Price / BV (X), as of Mar 24, the value is 3.75. This value exceeds the healthy maximum of 3. It has increased from 2.79 (Mar 23) to 3.75, marking an increase of 0.96.
For Price / Net Operating Revenue (X), as of Mar 24, the value is 2.56. This value is within the healthy range. It has increased from 1.83 (Mar 23) to 2.56, marking an increase of 0.73.
For EarningsYield, as of Mar 24, the value is 0.03. This value is below the healthy minimum of 5. It has decreased from 0.06 (Mar 23) to 0.03, marking a decrease of 0.03.

Overall, while many metrics show healthy performance, any figures highlighted in red or significant downward trends warrant further investigation.

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Mastek Ltd as of March 12, 2025 is: ₹1,878.46

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of March 12, 2025, Mastek Ltd is Overvalued by 22.02% compared to the current share price 2,409.00

Intrinsic Value of Mastek Ltd as of March 12, 2025 is: 2,040.16

Calculation basis:

Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of March 12, 2025, Mastek Ltd is Overvalued by 15.31% compared to the current share price 2,409.00

Last 5 Year EPS CAGR: 8.61%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The stock has a high average ROCE of 15.08%, which is a positive sign. The stock has a low average Working Capital Days of 24.25, which is a positive sign. The company has higher reserves (950.08 cr) compared to borrowings (203.38 cr), indicating strong financial stability. The company has shown consistent growth in sales (271.08 cr) and profit (200.69 cr) over the years.	The stock has a high average Cash Conversion Cycle of 70.58, which may not be favorable.

Stock Analysis

Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Mastek Ltd:
1. Net Profit Margin: 10.17%
  - Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
2. ROCE: 16.75% (Industry Average ROCE: 21.53%)
  - ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
3. ROE%: 14.38% (Industry Average ROE: 64.55%)
  - ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
4. Interest Coverage Ratio (Post Tax): 8.09
  - Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
5. Quick Ratio: 1.42
  - Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
6. Stock P/E: 19.8 (Industry average Stock P/E: 79.98)
  - Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
7. Total Debt / Equity: 0.23
  - Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
Stock Rating:

About the Company - Qualitative Analysis

Mastek Ltd. is a Public Limited Listed company incorporated on 14/05/1982 and has its registered office in the State of Gujarat, India. Company's Corporate Identification Number(CIN) is L74140GJ1982PLC005215 and registration number is 005215. Currently Company is involved in the business activities of Computer programming, consultancy and related activities. Company's Total Operating Revenue is Rs. 372.67 Cr. and Equity Capital is Rs. 15.42 Cr. for the Year ended 31/03/2024.

INDUSTRY	ADDRESS	CONTACT
IT Consulting & Software	804/805, President House, Opp. C N Vidyalaya, Ahmedabad Gujarat 380006	investor_grievances@mastek.com http://www.mastek.com

Management
Name	Position Held
Mr. Ashank Desai	Chairman (Non - Executive) & Non Independent Direc
Mr. Rajeev Kumar Grover	Ind.& Non Exe.Director
Mr. Ketan Mehta	Non Exe.Non Ind.Director
Mr. Suresh Vaswani	Non Exe. & Ind. Director
Mr. Umang Nahata	Non Exe.Non Ind.Director
Ms. Marilyn Jones	Non Exe. & Ind. Director

FAQ

What is the latest intrinsic value of Mastek Ltd?

The latest intrinsic value of Mastek Ltd as on 08 March 2025 is ₹1878.46, which is 22.02% lower than the current market price of 2,409.00, indicating the stock is overvalued by 22.02%. The intrinsic value of Mastek Ltd is calculated using PE ratio method. The stock has a market capitalization of ₹7,440 Cr. and recorded a high/low of ₹3,375/2,061 during the current fiscal year 2024-2025. As of Sep 2024, the company has reserves of ₹2,270 Cr and total liabilities of ₹3,682 Cr.

What is the Market Cap of Mastek Ltd?

The Market Cap of Mastek Ltd is 7,440 Cr..

What is the current Stock Price of Mastek Ltd as on 08 March 2025?

The current stock price of Mastek Ltd as on 08 March 2025 is ₹2,409.

What is the High / Low of Mastek Ltd stocks in FY 2024-2025?

In FY 2024-2025, the High / Low of Mastek Ltd stocks is ₹3,375/2,061.

What is the Stock P/E of Mastek Ltd?

The Stock P/E of Mastek Ltd is 19.8.

What is the Book Value of Mastek Ltd?

The Book Value of Mastek Ltd is 740.

What is the Dividend Yield of Mastek Ltd?

The Dividend Yield of Mastek Ltd is 0.79 %.

What is the ROCE of Mastek Ltd?

The ROCE of Mastek Ltd is 18.0 %.

What is the ROE of Mastek Ltd?

The ROE of Mastek Ltd is 15.9 %.

What is the Face Value of Mastek Ltd?

The Face Value of Mastek Ltd is 5.00.