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Last Updated: February 14, 2026, 9:32 pm
Author: Getaka|Social: XLinkedIn

Tech Mahindra Ltd: Intrinsic Value & Share Price Analysis

Share Price and Basic Stock Data

Last Updated: February 14, 2026, 9:32 pm

Market Cap 1,50,332 Cr.
Current Price 1,534
Intrinsic Value₹1,011.21
High / Low 1,854/1,209
Stock P/E31.3
Book Value 281
Dividend Yield2.93 %
ROCE18.6 %
ROE14.6 %
Face Value 5.00
PEG Ratio-7.17

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

View Share Price Target for Tech Mahindra Ltd

Competitors

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 / 1.110.00 %2.21 %2.23 % 1.00
Mudunuru Ltd 44.9 Cr. 14.2 21.0/4.43 0.200.00 %27.0 %90.7 % 2.00
Naapbooks Ltd 116 Cr. 107 194/99.817.7 36.40.00 %23.6 %17.1 % 10.0
IB Infotech Enterprises Ltd 50.6 Cr. 395 446/14031.6 26.70.25 %38.5 %35.4 % 10.0
Hit Kit Global Solutions Ltd 12.7 Cr. 2.35 2.35/0.91 2.240.00 %2.14 %2.15 % 2.00
Industry Average17,724.73 Cr484.2968.12121.920.67%14.90%21.00%6.84

All Competitor Stocks of Tech Mahindra Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 13,73513,71813,15912,86413,10112,87113,00613,31313,28613,38413,35113,99514,393
Expenses 11,60011,91511,82111,95011,95511,77211,44111,56311,47711,54511,41611,83012,028
Operating Profit 2,1351,8031,3389141,1461,0991,5641,7501,8091,8391,9352,1652,366
OPM % 16%13%10%7%9%9%12%13%14%14%14%15%16%
Other Income 247306200264923801475222317321940-293
Interest 11393120981165872897685787794
Depreciation 498490447466443461462470459462458469474
Profit before tax 1,7711,5259716156799591,1781,7141,2971,4641,6181,6591,505
Tax % 27%26%28%18%23%31%27%27%24%22%30%28%26%
Net Profit 1,2851,1257045055246648651,2589891,1421,1291,2021,119
EPS in Rs 13.3211.477.105.065.236.778.7112.7810.0511.9211.6512.1911.45

Last Updated: February 3, 2026, 10:46 pm

Below is a detailed analysis of the quarterly data for Tech Mahindra Ltd based on the most recent figures (Dec 2025) and their trends compared to the previous period:

  • For Sales, as of Dec 2025, the value is 14,393.00 Cr.. The value appears strong and on an upward trend. It has increased from 13,995.00 Cr. (Sep 2025) to 14,393.00 Cr., marking an increase of 398.00 Cr..
  • For Expenses, as of Dec 2025, the value is 12,028.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 11,830.00 Cr. (Sep 2025) to 12,028.00 Cr., marking an increase of 198.00 Cr..
  • For Operating Profit, as of Dec 2025, the value is 2,366.00 Cr.. The value appears strong and on an upward trend. It has increased from 2,165.00 Cr. (Sep 2025) to 2,366.00 Cr., marking an increase of 201.00 Cr..
  • For OPM %, as of Dec 2025, the value is 16.00%. The value appears strong and on an upward trend. It has increased from 15.00% (Sep 2025) to 16.00%, marking an increase of 1.00%.
  • For Other Income, as of Dec 2025, the value is -293.00 Cr.. The value appears to be declining and may need further review. It has decreased from 40.00 Cr. (Sep 2025) to -293.00 Cr., marking a decrease of 333.00 Cr..
  • For Interest, as of Dec 2025, the value is 94.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 77.00 Cr. (Sep 2025) to 94.00 Cr., marking an increase of 17.00 Cr..
  • For Depreciation, as of Dec 2025, the value is 474.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 469.00 Cr. (Sep 2025) to 474.00 Cr., marking an increase of 5.00 Cr..
  • For Profit before tax, as of Dec 2025, the value is 1,505.00 Cr.. The value appears to be declining and may need further review. It has decreased from 1,659.00 Cr. (Sep 2025) to 1,505.00 Cr., marking a decrease of 154.00 Cr..
  • For Tax %, as of Dec 2025, the value is 26.00%. The value appears to be improving (decreasing) as expected. It has decreased from 28.00% (Sep 2025) to 26.00%, marking a decrease of 2.00%.
  • For Net Profit, as of Dec 2025, the value is 1,119.00 Cr.. The value appears to be declining and may need further review. It has decreased from 1,202.00 Cr. (Sep 2025) to 1,119.00 Cr., marking a decrease of 83.00 Cr..
  • For EPS in Rs, as of Dec 2025, the value is 11.45. The value appears to be declining and may need further review. It has decreased from 12.19 (Sep 2025) to 11.45, marking a decrease of 0.74.

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: October 15, 2025, 4:18 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 18,80222,62126,49429,14130,77334,74236,86837,85544,64653,29051,99652,98854,016
Expenses 14,63018,42822,23424,95626,06328,47131,36531,05936,62645,52747,48946,02446,267
Operating Profit 4,1724,1934,2604,1844,7106,2715,5036,7968,0207,7634,5066,9647,748
OPM % 22%19%16%14%15%18%15%18%18%15%9%13%14%
Other Income 2441064537751,4175341,1927881,115965927864455
Interest 806997129162133192174163326392322316
Depreciation 5226117599781,0851,1291,4461,4581,5201,9571,8171,8531,848
Profit before tax 3,8153,6183,8573,8534,8795,5435,0585,9537,4526,4463,2245,6536,039
Tax % 20%27%22%26%22%23%23%27%24%25%26%25%
Net Profit 3,0622,6593,0272,8513,7864,2893,8974,3535,6304,8572,3974,2534,461
EPS in Rs 32.4427.3530.9228.8838.7843.7041.7645.7357.2749.6024.1443.4345.81
Dividend Payout % 15%22%35%28%33%29%32%89%47%91%150%94%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-13.16%13.84%-5.81%32.80%13.29%-9.14%11.70%29.34%-13.73%-50.65%77.43%
Change in YoY Net Profit Growth (%)0.00%27.00%-19.65%38.61%-19.51%-22.43%20.84%17.63%-43.07%-36.92%128.08%

Tech Mahindra Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:9%
5 Years:8%
3 Years:6%
TTM:3%
Compounded Profit Growth
10 Years:4%
5 Years:0%
3 Years:-11%
TTM:80%
Stock Price CAGR
10 Years:11%
5 Years:15%
3 Years:12%
1 Year:-8%
Return on Equity
10 Years:18%
5 Years:16%
3 Years:14%
Last Year:15%

Last Updated: September 5, 2025, 1:41 pm

Balance Sheet

Last Updated: December 4, 2025, 2:05 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 234480436439442444436437439440441442443
Reserves 8,94811,76814,15515,99818,40119,84121,37724,42826,44727,48426,22826,91927,061
Borrowings 3637001,0911,3662,3971,9963,6702,9012,6182,7402,5372,0251,954
Other Liabilities 6,3946,8996,8438,2549,19211,16611,83411,83614,91115,16213,94314,88016,370
Total Liabilities 15,94019,84822,52526,05730,43133,44637,31839,60244,41645,82743,14944,26745,828
Fixed Assets 2,5944,0334,3096,4607,6227,0618,8729,01814,78414,93213,90313,98214,262
CWIP 266568629373240276501181651201332123
Investments 1,4722,1031,2972,3964,8417,3425,84810,2384,8843,3883,2383,1823,082
Other Assets 11,60713,14516,28916,82817,72818,76622,54820,22824,58327,38825,87527,08228,461
Total Assets 15,94019,84822,52526,05730,43133,44637,31839,60244,41645,82743,14944,26745,828

Below is a detailed analysis of the balance sheet data for Tech Mahindra Ltd based on the most recent figures (Sep 2025) and their trends compared to the previous period:

  • For Equity Capital, as of Sep 2025, the value is 443.00 Cr.. The value appears strong and on an upward trend. It has increased from 442.00 Cr. (Mar 2025) to 443.00 Cr., marking an increase of 1.00 Cr..
  • For Reserves, as of Sep 2025, the value is 27,061.00 Cr.. The value appears strong and on an upward trend. It has increased from 26,919.00 Cr. (Mar 2025) to 27,061.00 Cr., marking an increase of 142.00 Cr..
  • For Borrowings, as of Sep 2025, the value is 1,954.00 Cr.. The value appears to be improving (decreasing). Additionally, since Reserves exceed Borrowings, this is considered a positive sign. It has decreased from 2,025.00 Cr. (Mar 2025) to 1,954.00 Cr., marking a decrease of 71.00 Cr..
  • For Other Liabilities, as of Sep 2025, the value is 16,370.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 14,880.00 Cr. (Mar 2025) to 16,370.00 Cr., marking an increase of 1,490.00 Cr..
  • For Total Liabilities, as of Sep 2025, the value is 45,828.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 44,267.00 Cr. (Mar 2025) to 45,828.00 Cr., marking an increase of 1,561.00 Cr..
  • For Fixed Assets, as of Sep 2025, the value is 14,262.00 Cr.. The value appears strong and on an upward trend. It has increased from 13,982.00 Cr. (Mar 2025) to 14,262.00 Cr., marking an increase of 280.00 Cr..
  • For CWIP, as of Sep 2025, the value is 23.00 Cr.. The value appears strong and on an upward trend. It has increased from 21.00 Cr. (Mar 2025) to 23.00 Cr., marking an increase of 2.00 Cr..
  • For Investments, as of Sep 2025, the value is 3,082.00 Cr.. The value appears to be declining and may need further review. It has decreased from 3,182.00 Cr. (Mar 2025) to 3,082.00 Cr., marking a decrease of 100.00 Cr..
  • For Other Assets, as of Sep 2025, the value is 28,461.00 Cr.. The value appears strong and on an upward trend. It has increased from 27,082.00 Cr. (Mar 2025) to 28,461.00 Cr., marking an increase of 1,379.00 Cr..
  • For Total Assets, as of Sep 2025, the value is 45,828.00 Cr.. The value appears strong and on an upward trend. It has increased from 44,267.00 Cr. (Mar 2025) to 45,828.00 Cr., marking an increase of 1,561.00 Cr..

Notably, the Reserves (27,061.00 Cr.) exceed the Borrowings (1,954.00 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

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity +1,5962,4483,1374,0713,5544,4324,3588,0945,2855,5726,3765,786
Cash from Investing Activity +291-1,865-1,453-2,893-3,319-2,1041,081-5,433480-226-1,31820
Cash from Financing Activity +-972-829-496-1,571-269-2,251-4,466-2,987-4,667-5,078-4,767-5,834
Net Cash Flow915-2461,188-392-3577974-3261,098267291-29

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-359.00-696.003.003.002.005.002.004.006.005.002.004.00

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

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days848480677773758798888080
Inventory Days
Days Payable
Cash Conversion Cycle848480677773758798888080
Working Capital Days475458574224352429282325
ROCE %45%32%27%23%24%25%22%23%26%22%12%19%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Promoters35.19%35.17%35.15%35.13%35.10%35.08%35.04%35.02%35.01%35.00%34.99%34.98%
FIIs27.95%26.87%25.69%26.22%24.58%24.15%23.27%23.67%24.19%22.95%23.28%20.60%
DIIs23.73%25.68%26.86%27.03%28.91%29.42%30.66%30.90%30.73%32.13%32.13%34.64%
Government0.17%0.17%0.17%0.17%0.17%0.17%0.17%0.17%0.17%0.17%0.17%0.17%
Public12.93%12.07%12.11%11.44%11.22%11.16%10.84%10.23%9.88%9.74%9.43%9.61%
No. of Shareholders9,92,2389,36,5349,29,8278,85,5908,67,3738,48,4848,26,2847,74,9977,61,3837,61,7017,48,1767,66,782

Shareholding Pattern Chart

No. of Shareholders

Tech Mahindra Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Tata Digital India Fund 7,145,933 9.28 1136.856,170,9332025-10-30 04:08:5715.8%
SBI Large Cap Fund 6,500,000 1.85 1034.09N/AN/AN/A
ICICI Prudential Technology Fund 6,317,672 6.32 1005.085,937,6722025-12-15 03:21:176.4%
SBI Balanced Advantage Fund 5,482,687 2.19 872.244,172,6872026-01-26 03:16:4631.39%
SBI Contra Fund 5,288,382 1.68 841.334,186,4092026-01-26 03:16:4626.32%
Kotak Flexicap Fund 4,700,000 1.32 747.72N/AN/AN/A
SBI ELSS Tax Saver Fund 3,780,741 1.84 601.48N/AN/AN/A
Kotak Large & Midcap Fund 3,200,000 1.69 509.09N/AN/AN/A
Aditya Birla Sun Life Flexi Cap Fund 2,820,504 1.79 448.71N/AN/AN/A
ICICI Prudential Large Cap Fund 2,786,756 0.56 443.35N/AN/AN/A

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 5.005.005.005.005.00
Basic EPS (Rs.) 48.0026.6654.7663.3250.64
Diluted EPS (Rs.) 47.9126.5854.7662.8150.19
Cash EPS (Rs.) 68.9147.6380.4581.4566.47
Book Value[Excl.RevalReserv]/Share (Rs.) 309.24307.56322.65311.99288.78
Book Value[Incl.RevalReserv]/Share (Rs.) 309.24307.56322.65311.99288.78
Revenue From Operations / Share (Rs.) 598.87589.12605.57508.73433.12
PBDIT / Share (Rs.) 88.3761.45102.20104.0686.77
PBIT / Share (Rs.) 67.4340.8677.2786.7370.09
PBT / Share (Rs.) 63.8036.4173.5784.8868.10
Net Profit / Share (Rs.) 47.9727.0455.5264.1249.79
NP After MI And SOA / Share (Rs.) 48.0526.7154.9063.4250.66
PBDIT Margin (%) 14.7510.4316.8720.4520.03
PBIT Margin (%) 11.256.9312.7617.0416.18
PBT Margin (%) 10.656.1812.1416.6815.72
Net Profit Margin (%) 8.014.589.1612.6011.49
NP After MI And SOA Margin (%) 8.024.539.0612.4611.69
Return on Networth / Equity (%) 15.538.8417.3020.7017.81
Return on Capital Employeed (%) 18.7411.7021.5123.5120.83
Return On Assets (%) 9.555.4210.4612.4011.15
Long Term Debt / Equity (X) 0.000.000.000.010.01
Total Debt / Equity (X) 0.010.050.050.050.06
Asset Turnover Ratio (%) 1.211.161.170.920.83
Current Ratio (X) 1.871.861.681.962.46
Quick Ratio (X) 1.871.851.681.952.45
Inventory Turnover Ratio (X) 1378.110.000.000.000.00
Dividend Payout Ratio (NP) (%) 90.36166.1288.2471.5239.72
Dividend Payout Ratio (CP) (%) 62.9393.8260.6856.1829.88
Earning Retention Ratio (%) 9.64-66.1211.7628.4860.28
Cash Earning Retention Ratio (%) 37.076.1839.3243.8270.12
Interest Coverage Ratio (X) 24.3113.8327.6256.1643.58
Interest Coverage Ratio (Post Tax) (X) 14.197.0816.0135.6126.01
Enterprise Value (Cr.) 121824.04107633.2094756.50129681.1785841.35
EV / Net Operating Revenue (X) 2.302.071.782.902.27
EV / EBITDA (X) 15.5819.8510.5414.2011.32
MarketCap / Net Operating Revenue (X) 2.372.121.822.952.29
Retention Ratios (%) 9.63-66.1211.7528.4760.27
Price / BV (X) 4.594.143.474.893.48
Price / Net Operating Revenue (X) 2.372.121.822.952.29
EarningsYield 0.030.020.040.040.05

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

  • For FaceValue, as of Mar 25, the value is 5.00. This value is within the healthy range. There is no change compared to the previous period (Mar 24) which recorded 5.00.
  • For Basic EPS (Rs.), as of Mar 25, the value is 48.00. This value is within the healthy range. It has increased from 26.66 (Mar 24) to 48.00, marking an increase of 21.34.
  • For Diluted EPS (Rs.), as of Mar 25, the value is 47.91. This value is within the healthy range. It has increased from 26.58 (Mar 24) to 47.91, marking an increase of 21.33.
  • For Cash EPS (Rs.), as of Mar 25, the value is 68.91. This value is within the healthy range. It has increased from 47.63 (Mar 24) to 68.91, marking an increase of 21.28.
  • For Book Value[Excl.RevalReserv]/Share (Rs.), as of Mar 25, the value is 309.24. It has increased from 307.56 (Mar 24) to 309.24, marking an increase of 1.68.
  • For Book Value[Incl.RevalReserv]/Share (Rs.), as of Mar 25, the value is 309.24. It has increased from 307.56 (Mar 24) to 309.24, marking an increase of 1.68.
  • For Revenue From Operations / Share (Rs.), as of Mar 25, the value is 598.87. It has increased from 589.12 (Mar 24) to 598.87, marking an increase of 9.75.
  • For PBDIT / Share (Rs.), as of Mar 25, the value is 88.37. This value is within the healthy range. It has increased from 61.45 (Mar 24) to 88.37, marking an increase of 26.92.
  • For PBIT / Share (Rs.), as of Mar 25, the value is 67.43. This value is within the healthy range. It has increased from 40.86 (Mar 24) to 67.43, marking an increase of 26.57.
  • For PBT / Share (Rs.), as of Mar 25, the value is 63.80. This value is within the healthy range. It has increased from 36.41 (Mar 24) to 63.80, marking an increase of 27.39.
  • For Net Profit / Share (Rs.), as of Mar 25, the value is 47.97. This value is within the healthy range. It has increased from 27.04 (Mar 24) to 47.97, marking an increase of 20.93.
  • For NP After MI And SOA / Share (Rs.), as of Mar 25, the value is 48.05. This value is within the healthy range. It has increased from 26.71 (Mar 24) to 48.05, marking an increase of 21.34.
  • For PBDIT Margin (%), as of Mar 25, the value is 14.75. This value is within the healthy range. It has increased from 10.43 (Mar 24) to 14.75, marking an increase of 4.32.
  • For PBIT Margin (%), as of Mar 25, the value is 11.25. This value is within the healthy range. It has increased from 6.93 (Mar 24) to 11.25, marking an increase of 4.32.
  • For PBT Margin (%), as of Mar 25, the value is 10.65. This value is within the healthy range. It has increased from 6.18 (Mar 24) to 10.65, marking an increase of 4.47.
  • For Net Profit Margin (%), as of Mar 25, the value is 8.01. This value is within the healthy range. It has increased from 4.58 (Mar 24) to 8.01, marking an increase of 3.43.
  • For NP After MI And SOA Margin (%), as of Mar 25, the value is 8.02. This value is within the healthy range. It has increased from 4.53 (Mar 24) to 8.02, marking an increase of 3.49.
  • For Return on Networth / Equity (%), as of Mar 25, the value is 15.53. This value is within the healthy range. It has increased from 8.84 (Mar 24) to 15.53, marking an increase of 6.69.
  • For Return on Capital Employeed (%), as of Mar 25, the value is 18.74. This value is within the healthy range. It has increased from 11.70 (Mar 24) to 18.74, marking an increase of 7.04.
  • For Return On Assets (%), as of Mar 25, the value is 9.55. This value is within the healthy range. It has increased from 5.42 (Mar 24) to 9.55, marking an increase of 4.13.
  • For Long Term Debt / Equity (X), as of Mar 25, the value is 0.00. This value is below the healthy minimum of 0.2. There is no change compared to the previous period (Mar 24) which recorded 0.00.
  • For Total Debt / Equity (X), as of Mar 25, the value is 0.01. This value is within the healthy range. It has decreased from 0.05 (Mar 24) to 0.01, marking a decrease of 0.04.
  • For Asset Turnover Ratio (%), as of Mar 25, the value is 1.21. It has increased from 1.16 (Mar 24) to 1.21, marking an increase of 0.05.
  • For Current Ratio (X), as of Mar 25, the value is 1.87. This value is within the healthy range. It has increased from 1.86 (Mar 24) to 1.87, marking an increase of 0.01.
  • For Quick Ratio (X), as of Mar 25, the value is 1.87. This value is within the healthy range. It has increased from 1.85 (Mar 24) to 1.87, marking an increase of 0.02.
  • For Inventory Turnover Ratio (X), as of Mar 25, the value is 1,378.11. This value exceeds the healthy maximum of 8. It has increased from 0.00 (Mar 24) to 1,378.11, marking an increase of 1,378.11.
  • For Dividend Payout Ratio (NP) (%), as of Mar 25, the value is 90.36. This value exceeds the healthy maximum of 50. It has decreased from 166.12 (Mar 24) to 90.36, marking a decrease of 75.76.
  • For Dividend Payout Ratio (CP) (%), as of Mar 25, the value is 62.93. This value exceeds the healthy maximum of 50. It has decreased from 93.82 (Mar 24) to 62.93, marking a decrease of 30.89.
  • For Earning Retention Ratio (%), as of Mar 25, the value is 9.64. This value is below the healthy minimum of 40. It has increased from -66.12 (Mar 24) to 9.64, marking an increase of 75.76.
  • For Cash Earning Retention Ratio (%), as of Mar 25, the value is 37.07. This value is below the healthy minimum of 40. It has increased from 6.18 (Mar 24) to 37.07, marking an increase of 30.89.
  • For Interest Coverage Ratio (X), as of Mar 25, the value is 24.31. This value is within the healthy range. It has increased from 13.83 (Mar 24) to 24.31, marking an increase of 10.48.
  • For Interest Coverage Ratio (Post Tax) (X), as of Mar 25, the value is 14.19. This value is within the healthy range. It has increased from 7.08 (Mar 24) to 14.19, marking an increase of 7.11.
  • For Enterprise Value (Cr.), as of Mar 25, the value is 121,824.04. It has increased from 107,633.20 (Mar 24) to 121,824.04, marking an increase of 14,190.84.
  • For EV / Net Operating Revenue (X), as of Mar 25, the value is 2.30. This value is within the healthy range. It has increased from 2.07 (Mar 24) to 2.30, marking an increase of 0.23.
  • For EV / EBITDA (X), as of Mar 25, the value is 15.58. This value exceeds the healthy maximum of 15. It has decreased from 19.85 (Mar 24) to 15.58, marking a decrease of 4.27.
  • For MarketCap / Net Operating Revenue (X), as of Mar 25, the value is 2.37. This value is within the healthy range. It has increased from 2.12 (Mar 24) to 2.37, marking an increase of 0.25.
  • For Retention Ratios (%), as of Mar 25, the value is 9.63. This value is below the healthy minimum of 30. It has increased from -66.12 (Mar 24) to 9.63, marking an increase of 75.75.
  • For Price / BV (X), as of Mar 25, the value is 4.59. This value exceeds the healthy maximum of 3. It has increased from 4.14 (Mar 24) to 4.59, marking an increase of 0.45.
  • For Price / Net Operating Revenue (X), as of Mar 25, the value is 2.37. This value is within the healthy range. It has increased from 2.12 (Mar 24) to 2.37, marking an increase of 0.25.
  • For EarningsYield, as of Mar 25, the value is 0.03. This value is below the healthy minimum of 5. It has increased from 0.02 (Mar 24) to 0.03, marking an increase of 0.01.

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 Tech Mahindra Ltd as of February 15, 2026 is: ₹1,057.39

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 February 15, 2026, Tech Mahindra Ltd is Overvalued by 31.07% compared to the current share price ₹1,534.00

Intrinsic Value of Tech Mahindra Ltd as of February 15, 2026 is: ₹1,011.21

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 February 15, 2026, Tech Mahindra Ltd is Overvalued by 34.08% compared to the current share price ₹1,534.00

Last 5 Year EPS CAGR: -4.37%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a high average ROCE of 25.00%, which is a positive sign.
  2. The company has higher reserves (20,696.54 cr) compared to borrowings (2,027.54 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (37.38 cr) and profit (4.46 cr) over the years.
  1. The stock has a high average Working Capital Days of 37.17, which may not be favorable.
  2. The stock has a high average Cash Conversion Cycle of 81.08, 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 Tech Mahindra Ltd:
    1. Net Profit Margin: 8.01%
      • 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: 18.74% (Industry Average ROCE: 14.9%)
      • 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%: 15.53% (Industry Average ROE: 21%)
      • 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): 14.19
      • 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: 1.87
      • 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: 31.3 (Industry average Stock P/E: 68.12)
      • 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: 0.01
      • 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

Tech Mahindra Ltd. is a Public Limited Listed company incorporated on 24/10/1986 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L64200MH1986PLC041370 and registration number is 041370. Currently Company is involved in the business activities of Other information technology and computer service activities n.e.c. Company's Total Operating Revenue is Rs. 44617.20 Cr. and Equity Capital is Rs. 489.50 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
IT Consulting & SoftwareGateway Building, Apollo Bunder, Mumbai Maharashtra 400001Contact not found
Management
NamePosition Held
Mr. Anand G MahindraChairman
Mr. Mohit JoshiManaging Director & CEO
Dr. Anish ShahNon Executive Director
Mr. Puneet RenjhenNon Executive Director
Ms. Penelope FowlerIndependent Director
Mr. Haigreve KhaitanIndependent Director
Dr. Mukti KhaireIndependent Director
Ms. Shikha SharmaIndependent Director
Mr. Neelam DhawanIndependent Director
Mr. Tarun BajajIndependent Director

FAQ

What is the intrinsic value of Tech Mahindra Ltd?

Tech Mahindra Ltd's intrinsic value (as of 15 February 2026) is ₹1011.21 which is 34.08% lower the current market price of ₹1,534.00, indicating overvalued. Calculated using the PE ratio method, this valuation considers the company's ₹1,50,332 Cr. market cap, FY2025-2026 high/low of ₹1,854/1,209, reserves of ₹27,061 Cr, and liabilities of ₹45,828 Cr.

What is the Market Cap of Tech Mahindra Ltd?

The Market Cap of Tech Mahindra Ltd is 1,50,332 Cr..

What is the current Stock Price of Tech Mahindra Ltd as on 15 February 2026?

The current stock price of Tech Mahindra Ltd as on 15 February 2026 is ₹1,534.

What is the High / Low of Tech Mahindra Ltd stocks in FY 2025-2026?

In FY 2025-2026, the High / Low of Tech Mahindra Ltd stocks is ₹1,854/1,209.

What is the Stock P/E of Tech Mahindra Ltd?

The Stock P/E of Tech Mahindra Ltd is 31.3.

What is the Book Value of Tech Mahindra Ltd?

The Book Value of Tech Mahindra Ltd is 281.

What is the Dividend Yield of Tech Mahindra Ltd?

The Dividend Yield of Tech Mahindra Ltd is 2.93 %.

What is the ROCE of Tech Mahindra Ltd?

The ROCE of Tech Mahindra Ltd is 18.6 %.

What is the ROE of Tech Mahindra Ltd?

The ROE of Tech Mahindra Ltd is 14.6 %.

What is the Face Value of Tech Mahindra Ltd?

The Face Value of Tech Mahindra Ltd is 5.00.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Tech Mahindra Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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