A deep dive into Tech Mahindra Ltd. (TECHM) — examining the financials, valuation picture, and who owns the stock.
Tech Mahindra Revenue Trend
A 5.6% jump in revenue took Tech Mahindra Ltd.'s top line to ₹56,847 Cr in FY2026.
Tech Mahindra Ltd.'s revenue compounded at 7.9% over 10 years — not a breakout compounder, but steady enough to suggest a stable business.
A ₹56,847 Cr revenue base makes Tech Mahindra Ltd. a major name in the Indian computers - software sector.
| Year | Revenue | YoY % |
|---|---|---|
| FY2026 | ₹56,847 Cr | +5.6% |
| FY2025 | ₹53,844 Cr | +1.8% |
| FY2024 | ₹52,912 Cr | -0.7% |
| FY2023 | ₹53,290 Cr | +19.4% |
| FY2022 | ₹44,646 Cr | — |
View Tech Mahindra Ltd.'s full 10-year revenue trend with CAGR analysis →
Tech Mahindra Profitability
Bottom-line growth was evident, with Tech Mahindra Ltd. posting ₹4,806 Cr in net profit for FY2026 — up 13.0% from ₹4,253 Cr.
Net profit margin improved to 8.5% in FY2026 from 7.9% in FY2025, indicating better cost control.
At ₹54.19 per share (diluted), FY2026 earnings were up year-over-year from ₹47.91.
Is Tech Mahindra Undervalued
Tech Mahindra Ltd. shares are currently trading at ₹1,555.80.
Craytheon calculates intrinsic value using the P/E Ratio, DCF, and EPS Growth models. All three appear in the Valuation Models cards below.
Valuation Models
Tech Mahindra Shareholding Pattern
At 35.0%, the promoter stake has been flat for the past 4 quarters.
Foreign investors held 18.6% of the company as of March 2026, down year-over-year from 23.3%.
DII holding is at 37.3%, up from 32.1% in the year-ago quarter.
| Quarter | Promoter | FII | DII | Public |
|---|---|---|---|---|
| Mar 2026 | 35.0% | 18.6% | 37.3% | 8.9% |
| Dec 2025 | 35.0% | 17.9% | 37.8% | 9.1% |
| Sep 2025 | 35.0% | 20.6% | 34.6% | 9.6% |
| Jun 2025 | 35.0% | 23.3% | 32.1% | 9.4% |
Track quarterly shareholding changes for Tech Mahindra Ltd. →
Tech Mahindra Balance Sheet
Proportional view as of 23 Jul 2026. Hover blocks for details.
Assets
Liabilities & Equity
Total assets stood at ₹493.69B at the end of FY2026, up 10.9% from ₹445.27B a year earlier.
Other Assets is the largest block at 41.3%, followed by Intangibles & Goodwill at 21.1% and Cash & ST Investments at 17.0%.
Equity makes up 60.9% of liabilities and equity, with debt at 4.4% and operating liabilities at 34.6%. Over the year, debt is up 7.1% and equity is up 8.2%.
Balance sheet composition — FY 2026
| Category | Value |
|---|---|
| Cash & ST Investments | 83.82B |
| Receivables | 75.37B |
| Inventories | 1.04B |
| Property, Plant & Equipment | 24.52B |
| Investments | 902.00M |
| Intangibles & Goodwill | 104.26B |
| Other Assets | 203.78B |
| Category | Value |
|---|---|
| Equity | 300.77B |
| Short-term Debt | 5.97B |
| Long-term Debt | 15.89B |
| Trade Payables | 50.40B |
| Other Liabilities | 120.66B |
Tech Mahindra Key Takeaways
In summary, Tech Mahindra Ltd. (TECHM) presents the following picture for fundamental analysts.
Revenue of ₹56,847 Cr in FY2026, up 5.6% year-over-year.
Long-term revenue has been compounding at 7.9% annually over 10 years.
The company is profitable, with a net margin of 8.5% and net income of ₹4,806 Cr.
Unlock Full Analysis
Craytheon's full analysis of Tech Mahindra Ltd. goes deeper: three valuation models, growth metrics, and 10 years of financial data.