A deep dive into Tech Mahindra Ltd. (TECHM) — examining the financials, valuation picture, and who owns the stock.
Tech Mahindra Revenue Trend
A 1.8% jump in revenue took Tech Mahindra Ltd.'s top line to ₹53,844 Cr in FY2025.
Tech Mahindra Ltd.'s revenue compounded at 9.1% over 10 years — not a breakout compounder, but steady enough to suggest a stable business.
A ₹53,844 Cr revenue base makes Tech Mahindra Ltd. a major name in the Indian computers - software sector.
| Year | Revenue | YoY % |
|---|---|---|
| FY2025 | ₹53,844 Cr | +1.8% |
| FY2024 | ₹52,912 Cr | -0.7% |
| FY2023 | ₹53,290 Cr | +19.4% |
| FY2022 | ₹44,646 Cr | +17.9% |
| FY2021 | ₹37,855 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 ₹4,253 Cr in net profit for FY2025 — up 77.4% from ₹2,397 Cr.
Net profit margin improved to 7.9% in FY2025 from 4.5% in FY2024, indicating better cost control.
At ₹47.91 per share (diluted), FY2025 earnings were up year-over-year from ₹26.58.
Is Tech Mahindra Undervalued
Under the P/E Ratio approach, Tech Mahindra Ltd.'s estimated fair value is ₹1,398 (2.2% downside).
Tech Mahindra Ltd. shares are currently trading at ₹1,429.20.
Craytheon also calculates intrinsic value using the EPS Growth and DCF models. The full breakdown with assumptions is available in the detailed analysis.
| Model | Est. Fair Value | vs. Current Price |
|---|---|---|
| P/E Ratio | ₹1,398 | 2.2% downside 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
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 12 Jun 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
In summary, Tech Mahindra Ltd. (TECHM) presents the following picture for fundamental analysts.
Revenue of ₹53,844 Cr in FY2025, up 1.8% year-over-year.
Long-term revenue has been compounding at 9.1% annually over 10 years.
The company is profitable, with a net margin of 7.9% and net income of ₹4,253 Cr.
The P/E Ratio model implies 2.2% downside 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.