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TECHM · Tech Mahindra Ltd · Software & Programming

₹1,790.8+1.2%

Last close, 30 Oct

52wk low ₹1,304.152wk high ₹1,854

3.4% below 52-week high

52-week range: as of 30 Oct 2026.

Stock Condition:73 out of 100(+4 vs previous session)

Weighted combination of 8 measured readings. Not a probability, a rating or a forecast.

Stock Condition as of 30 Oct 2026 close

Slowest input: promoter pledge (disclosed quarterly), as of 18 Jul 2026

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Chart

Fundamentals as of 15 Sep 2026 · the company's own latest record is 47 days old

Revenue growth acceleratingOperating margin above its own average

Revenue (latest Q)

₹15,712 Cr

Revenue YoY

PAT YoY

+28.4%

Operating margin

Revenue, last 8 quarters

P/E (TTM)

P/B

8.1

P/S (TTM)

2.6

Sector P/E

25.5

Dividend yield

+3.3%

CompanyP/EP/BNet marginROED/EDiv. yield
TECHM (this stock)24.28.1+8.7%+17.3%0.07+3.3%
Tata Consultancy Services15.77.7+18.1%+48.0%8.93+2.9%
Infosys13.56.1+16.4%+33.2%0.1+4.6%
HCL Technologies16.77.4+13.0%+23.2%0.07+5.0%

Promoter

stable

FII

rising 2q

MF

19.14% (+0.08pp)

rising 1q

Insider trades

No insider trades in the last 12 months.

Bulk/block deals

No bulk/block deals in the last 12 months.

News timeline

Concalls & investor presentations

AI-generated
Concall transcriptPositive21 Oct 2026
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Key takeaway: Tech Mahindra Limited reported strong Q2 FY27 results with revenue of US$1.693 billion, a 6.8% year-on-year growth on a reported basis and 7.2% growth in constant currency. The company highlighted broad-based growth across verticals, including Communications (9.5% YoY), Manufacturing (7%), and Retail, Travel and Logistics (9.2% YoY). Operating margins stood at 14.8%, up 260 basis points YoY. Key initiatives included the launch of Zero-Gravity Telco Architecture and the expansion of TechM Helix, an AI-driven transformation platform. The company secured US$1.023 billion in new deals and emphasized AI integration across service lines and industries. Management noted continued focus on AI toolchains, industry-specific solutions, and strategic partnerships with hyperscalers like AWS, Google Cloud, and Microsoft. The board recommended a 1:1 bonus share issue to celebrate the company's 40th anniversary. Financials showed EBIT of US$250 million with a 14.8% margin, and free cash flow of US$135 million. The company reiterated its full-year EBIT margin target of 15% and expressed confidence in sustaining growth momentum in the second half of FY27.

The document emphasizes strong revenue growth, margin expansion, and strategic AI initiatives, reflecting a positive outlook on the company's performance and future prospects.

Sourced from an exchange-filed transcript, dated 21 Oct 2026. Summary is RedixFi-generated and distinct from investment advice.

Investor presentationPositive15 Oct 2026
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Key takeaway: Tech Mahindra Limited reported audited financial results for the quarter ended September 30, 2026, highlighting a 6.8% year-on-year increase in USD revenue to $1,693 million and a 15.6% YoY rise in INR revenue to ₹16,180 crores. EBIT rose 30.4% YoY to $250 million, with EBIT margin expanding to 14.8%. Profit after tax (PAT) increased 23.2% YoY to $166 million, while PAT margin improved to 9.8%. The company declared an interim dividend of ₹15 per share and recommended a 1:1 bonus share issue. Key business updates include launching Zero Gravity Telco Architecture, strategic partnerships with SpaceXAI and I-HUB Quantum Technology Foundation, and recognition at the Brandon Hall HCM Excellence Awards. The company also won awards for AI-driven solutions and was recognized as a leader in multiple ISG Provider Lens evaluations. The Board noted sustained business momentum with 7.2% constant currency growth, emphasizing innovation and long-term value creation.

The summary reflects positive financial performance, strategic initiatives, and recognition, indicating a favorable outlook based on reported results and management commentary.

Sourced from an exchange-filed presentation, dated 15 Oct 2026. Summary is RedixFi-generated and distinct from investment advice.

Concall transcriptPositive22 Jul 2026
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Key takeaway: Tech Mahindra Limited reported strong financial results for Q1 FY27 during its earnings conference call held on July 16, 2026. Management highlighted a revenue of US$1.66 billion, reflecting a 6.1% year-on-year growth, with operating margins at 14.4%. The company noted broad-based growth across key verticals, including 17.2% growth in manufacturing and 8.1% in BFSI. Management discussed the successful execution of a three-year turnaround plan, emphasizing the importance of AI-led strategies and client engagement. The company announced the acquisition of Avant Techno Solutions to enhance its capabilities in payments modernization. Tech Mahindra also reported a total of US$1.078 billion in deal wins, showcasing strong client confidence. Management expressed optimism about sustaining growth momentum, despite potential headwinds in certain sectors, and reiterated their commitment to achieving above-average growth compared to peers.

Management emphasized strong growth and successful execution of strategic initiatives.

Sourced from an exchange-filed transcript, dated 22 Jul 2026. Summary is RedixFi-generated and distinct from investment advice.

Investor presentationPositive16 Jul 2026
View source filing →

Key takeaway: Tech Mahindra Limited reported its audited consolidated financial results for the quarter ended June 30, 2026, highlighting a revenue of ₹157,119 million, which represented a 17.7% year-over-year increase. The profit after tax was ₹14,863 million, up 9.6% from the previous year. The company achieved an EBIT of ₹2,264 million, reflecting a 53.3% increase year-over-year. Management noted that new deal wins totaled USD 1,078 million, marking a 33% increase compared to the previous year. The earnings presentation emphasized the company's commitment to growth through strategic partnerships and investments in technology, including AI and cloud services. The document also mentioned the acquisition of Avant Techno Solutions, aimed at enhancing capabilities in the BFSI sector. The management expressed confidence in the company's operational resilience and the deepening of client relationships across various sectors.

Management emphasized strong financial performance and strategic growth initiatives.

Sourced from an exchange-filed presentation, dated 16 Jul 2026. Summary is RedixFi-generated and distinct from investment advice.

Concall transcriptPositive28 Apr 2026
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Key takeaway: Tech Mahindra Limited held its quarterly earnings meeting on April 22, 2026, to discuss the financial results for the fourth quarter and the fiscal year ending March 31, 2026. Management reported a strong performance, with full-year revenues of USD 6.385 billion, reflecting a 1.9% increase year-on-year. The company achieved significant deal momentum, securing its highest ever deal wins, including two mega deals aimed at enhancing digital transformation and AI capabilities. The earnings call highlighted growth across various verticals, particularly in manufacturing and retail, while acknowledging challenges in healthcare and hi-tech sectors. Management emphasized a strategic focus on AI integration and operational efficiency, with a goal of achieving an EBIT margin of 15% in FY27. The call concluded with a Q&A session, where management addressed concerns about industry growth and client behavior amidst evolving market conditions.

Management expressed satisfaction with the company's performance and strategic direction.

Sourced from an exchange-filed transcript, dated 28 Apr 2026. Summary is RedixFi-generated and distinct from investment advice.

Investor presentationPositive22 Apr 2026
View source filing →

Key takeaway: Tech Mahindra Limited's investor presentation dated April 22, 2026, outlined updates on its strategic roadmap during the Analyst Day 2026. The agenda included a strategic update on transformation, an AI-led delivery model, financial updates, and a Q&A session. Management reported the addition of 182 clients and highlighted significant achievements, such as a 98% customer satisfaction score and a 63 NPS, the highest in the industry. The presentation detailed the company's three-year roadmap focusing on revenue growth, margin expansion, and operational excellence through initiatives like Project Fortius. Management emphasized the importance of AI in enhancing service delivery and operational efficiency, with 95% of Turbocharge clients infused with AI offerings. The document also noted a consistent policy of returning cash to shareholders, with a record dividend declared. Overall, the presentation reflected confidence in navigating macroeconomic challenges while pursuing growth and transformation goals.

Management emphasized achievements and strategic initiatives aimed at growth and operational excellence.

Sourced from an exchange-filed presentation, dated 22 Apr 2026. Summary is RedixFi-generated and distinct from investment advice.

Investor presentationPositive22 Apr 2026
View source filing →

Key takeaway: Tech Mahindra Limited reported its audited consolidated financial results for the fourth quarter and financial year ended March 31, 2026. The company achieved a revenue of ₹56,815 crores, reflecting a 7.2% year-over-year increase. EBIT rose to ₹7,152 crores, up 39.2% YoY, with a PAT of ₹4,811 crores, marking a 13.2% increase. The company declared a final dividend of ₹36 per equity share, in addition to an interim dividend of ₹15, bringing the total dividend for FY26 to ₹51 per share, the highest ever. The document highlighted significant deal wins totaling $3,794 million for the year, with a focus on AI-led transformations. Management emphasized the successful transition to an AI-led organization and the expansion of capabilities to enhance client value delivery. The company also announced the convening of its 39th Annual General Meeting on July 17, 2026.

Management emphasized strong financial performance and significant deal wins.

Sourced from an exchange-filed presentation, dated 22 Apr 2026. Summary is RedixFi-generated and distinct from investment advice.

AI Summary of Annual Report

AI-generated
FY2025-26710 pages

Tech Mahindra Limited's annual report for FY2025-26 outlines its strategic focus on sustainability, digital transformation, and corporate governance. The company emphasizes its commitment to reducing greenhouse gas emissions, enhancing water efficiency, and promoting employee well-being. It highlights initiatives such as achieving net-zero emissions by FY35, improving water recycling, and implementing robust risk management frameworks. The report also discusses the importance of maintaining strong customer relationships and adapting to macroeconomic challenges through cost optimization and innovation.

  • Commitment to sustainability with management's stated targets for reducing greenhouse gas emissions and improving water efficiency.
  • Focus on digital transformation and business re-engineering to enable scalable solutions for clients.
  • Robust corporate governance and risk management practices, including a Whistleblower Policy and Enterprise Risk Management framework.
  • Initiatives to enhance employee well-being and diversity, equity, and inclusion (DEI) across global operations.
  • Strategic emphasis on innovation, such as the launch of the TechM Orion AI platform, to drive growth and operational efficiency.

Key takeaway: Tech Mahindra Limited is prioritizing sustainability, digital transformation, and robust corporate governance to navigate macroeconomic challenges and drive long-term growth through innovation and operational efficiency.

The following annual report excerpts provide qualitative strategic context. Do not treat any specific financial figures in these excerpts as authoritative — they may be incorrectly labeled due to PDF table extraction limitations. For precise financial data, refer to the structured fundamentals data above.

Filed with NSE · 23 Jun 2026View source filing →

Governance disclosures

AI-generated

Needs attention

Auditor Qualification (2 items); Regulatory Action (3 items); Investigation or enforcement mention (3 items)

Items of these kinds are disclosed in the filings. This is a count of disclosed items. It is not a finding about the company and its cause has not been independently established.

Auditor Qualification

2 occurrences

Recent (last 12 months)

Concall15 Oct 2026 (FY2026-27)
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The auditor's report includes an Emphasis of Matter regarding claims made by 37 companies against erstwhile Satyam, with alleged advances of Rs.12,304 Million, which the company's management believes will not be payable on final adjudication.

Concall16 Jul 2026 (FY2026-27)Older than 10 years
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The auditor's report highlights a matter of emphasis regarding claims made by 37 companies against erstwhile Satyam Computer Services Limited, which was amalgamated with Tech Mahindra in 2011, involving alleged advances of Rs.12,304 Million.

Regulatory Action

3 occurrences

Recent (last 12 months)

Annual Report23 Jun 2026 (FY2025-26)Small penalty (under Rs 1 lakh)
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In the financial year 2023-24, the National Stock Exchange of India Limited and BSE Limited each levied a fine of ₹5,900/- (including GST) on the company for a one-day delay in filing the disclosure on related party transactions under Regulation 23(9) of the SEBI Listing Regulations. The delay was due to a technical error during submission.

Earlier (1-3 years ago)

Annual Report27 Jun 2024 (FY2023-24)· 3 passages
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The company was fined by BSE & NSE for a delay in disclosing a related party transaction under SEBI regulations, which has been paid during the review period.

Annual Report23 Jun 2025 (FY2024-25)Small penalty (under Rs 1 lakh)
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In the financial year 2023-24, during the quarter ended 31st December 2023, the National Stock Exchange of India Limited and BSE Limited levied a fine of ₹5,900/- (incl GST) each on the Company for a one-day delay in filing the disclosure on statement of Related Party Transactions under Regulation 23(9) of the SEBI Listing Regulations. The delay was due to a technical error faced by the Company while submitting the disclosure.

Investigation or enforcement mention

3 occurrences

Recent (last 12 months)

Annual Report23 Jun 2026 (FY2025-26)· 4 passages
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The company reported a fraud instance involving misappropriation of ₹122.60 Mn by ex-employees, which was addressed by legal and remedial actions. No other frauds were reported by auditors during 2025-26.

Earlier (1-3 years ago)

Annual Report23 Jun 2025 (FY2024-25)· 3 passages
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The company faced allegations under FEMA related to non-repatriation of ADR proceeds (USD 39.2M) and non-realization of export proceeds (INR 506M). The company responded and does not expect further proceedings.

Annual Report27 Jun 2024 (FY2023-24)· 3 passages
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The erstwhile Satyam is alleged to have non-repatriated ADR proceeds of USD 39.2 million and failed to realize and repatriate export proceeds equivalent to INR 506 million. The company has not received further communication on these matters and expects no further proceedings.

Routine disclosures

Contingent Liability

3 occurrences

Recent (last 12 months)

Annual Report23 Jun 2026 (FY2025-26)· 6 passages
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The company has contingent liabilities related to income tax, service tax, VAT, GST, and international tax matters, with specific cases including transfer pricing adjustments and disallowance of expenses, as of March 31, 2026.

Earlier (1-3 years ago)

Annual Report23 Jun 2025 (FY2024-25)· 6 passages
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The company has contingent liabilities related to income tax, service tax, VAT, GST, and international tax matters, with specific cases including adjustments for disallowed expenses, transfer pricing, and interest under section 234a, b, c, as of March 31, 2025.

Annual Report27 Jun 2024 (FY2023-24)· 8 passages
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The company has provided guarantees to other entities, with details of the aggregate amount during the year and balance outstanding as at the balance sheet date, though specific amounts are not quantified in the excerpt.

Related-Party Transaction

3 occurrences

Recent (last 12 months)

Annual Report23 Jun 2026 (FY2025-26)· 3 passages
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The Audit Committee reviewed and granted prior approval for transactions with related parties (RPTs) proposed to be entered into by the Company.

Earlier (1-3 years ago)

Annual Report23 Jun 2025 (FY2024-25)· 4 passages
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The company incurred CSR expenditure related to Mahindra Educational Institutions and Tech Mahindra Foundation, which are related parties.

Annual Report27 Jun 2024 (FY2023-24)Small penalty (under Rs 1 lakh)· 5 passages
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The company paid a penalty of ₹11,800 (including GST) to the National Stock Exchange of India Limited and BSE Limited for a one-day delay in filing the disclosure on Related Party Transactions under Regulation 23(9) of the SEBI.

Promoter Share Pledge

1 occurrence

Recent (last 12 months)

Structured Filing Data (NSE Pledge Disclosure)18 Jul 2026

0.5% of promoter holding pledged (quarter 2026-Q3 as of 2026-07-18).

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