This article takes a close look at Tech Mahindra Ltd. (TECHM), covering the financials, the valuation picture, and the ownership structure.
Tech Mahindra Revenue Trend
Tech Mahindra Ltd. grew its top line 5.6% to ₹56,847 Cr in FY2026.
Over 10 years, Tech Mahindra Ltd.'s revenue has compounded at 7.9%, which is a measured pace rather than a high-growth trajectory but suggests a reasonably durable franchise.
With a ₹56,847 Cr revenue base, Tech Mahindra Ltd. sits among the larger companies 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
Tech Mahindra Ltd. reported ₹4,806 Cr in net profit for FY2026, up 13.0% from ₹4,253 Cr, a meaningful pickup at the bottom line.
The net profit margin expanded to 8.5% in FY2026 from 7.9% in FY2025, pointing to improved cost efficiency over the year.
Diluted EPS came in at ₹54.19 for FY2026, ahead of the ₹47.91 posted a year earlier.
Is Tech Mahindra Undervalued
The P/E Ratio model puts Tech Mahindra Ltd.'s estimated fair value at ₹1,411 (0.0% upside).
Shares of Tech Mahindra Ltd. are currently trading at ₹1,410.10.
Beyond the P/E approach, Craytheon also calculates intrinsic value using the EPS Growth and DCF models. All three valuations, with their assumptions, are laid out in the detailed analysis.
| Model | Est. Fair Value | vs. Current Price |
|---|---|---|
| P/E Ratio | ₹1,411 | 0.0% upside to fair value |
| EPS Growth | Upgrade | Upgrade |
| DCF | Upgrade | Upgrade |
See all valuation models for Tech Mahindra Ltd. with detailed assumptions →
Tech Mahindra Shareholding Pattern
Promoter holding stands at 35.0% and has been unchanged for the past 4 quarters.
As of March 2026, foreign investors held 18.6% of the company, a decline from 23.3% in the year-ago period.
Domestic institutions have stepped up their exposure, with DII holding rising to 37.3% 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 3 Jul 2026. Hover blocks for details.
Assets
Liabilities & Equity
Total assets stood at ₹445.27B at the end of FY2025, up 2.5% from ₹434.24B a year earlier.
Other Assets is the largest block at 28.5%, followed by Receivables at 25.9% and Intangibles & Goodwill at 22.6%.
Equity makes up 62.3% of liabilities and equity, with debt at 4.6% and operating liabilities at 33.1%. Over the year, debt is down 19.5% and equity is up 2.4%.
Balance sheet composition — FY 2025
| Category | Value |
|---|---|
| Cash & ST Investments | 74.35B |
| Receivables | 115.47B |
| Inventories | 394.00M |
| Property, Plant & Equipment | 24.01B |
| Investments | 3.23B |
| Intangibles & Goodwill | 100.81B |
| Other Assets | 127.00B |
| Category | Value |
|---|---|
| Equity | 277.92B |
| Short-term Debt | 8.78B |
| Long-term Debt | 11.63B |
| Trade Payables | 44.11B |
| Other Liabilities | 103.53B |
Tech Mahindra Key Takeaways
For fundamental analysts, here is where Tech Mahindra Ltd. (TECHM) stands.
FY2026 revenue reached ₹56,847 Cr, a 5.6% increase year-over-year.
The 10-year revenue CAGR stands at 7.9%.
Profitability is healthy, with a net margin of 8.5% and net income of ₹4,806 Cr.
The P/E Ratio model implies 0.0% upside to fair value from the current price. The remaining two models are worth cross-checking before drawing a conclusion — sign up to see the full analysis.
Unlock Full Analysis
Craytheon's full analysis of Tech Mahindra Ltd. goes deeper: three valuation models, growth metrics, and 10 years of financial data.