Tech Mahindra share price
NSE: TECHMBSE: 532755IT - SoftwareLarge Cap
Tech Mahindra Limited · Face value ₹5 Face value. The nominal value of one share as the company issued it, the unit its share capital is counted in and a dividend can be stated as a percentage of; it has no link to the share price. Face value in the glossary · Listed Aug 2006
Last close ₹1,811.40up ₹16.40 (0.91%)BSE ₹1,807.00
Share price at the NSE close on 27 Oct 2026. Previous close ₹1,795.00.
27 Oct: open ₹1,784.00, high ₹1,811.40, low ₹1,761.00
52-week range of traded prices to 27 Oct 2026
₹1,304.10Low, 9 Mar 2026₹1,854.00High, 3 Feb 2026
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies. Market capitalisation: how it is worked out
- ₹1,77,546 Cr59th largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. Price to earnings, trailing: how it is worked out
- 32.18
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. Price to book: how it is worked out
- 5.98
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- 2.82%
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it.
- 19.3%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet.
- 26.7%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Sep 2026.
- 0.07
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day. Volume in the glossary
- 20,42,67054.6% delivered
About Tech Mahindra
Tech Mahindra Limited is an IT services company that offers technology consulting and digital solutions to global enterprises across industries around the world.12 Its services include consulting, information technology, enterprise applications, business process services, engineering, network services, customer experience and design, AI and analytics, and cloud and infrastructure.1 It has its roots in telecommunications.3
It reports its results as Information Technology (IT) services and Business Process Services (BPS).4 At the end of March 2026 it had 141 subsidiaries, 8 associate companies and 2 joint ventures.5 Its total headcount was 152,206 at the end of September 2026.6
It was incorporated in 1986.7 Satyam Computer Services Limited was amalgamated with the company with effect from 1 April 2011.8 The company marked its 40th anniversary in the quarter to Sep 2026.3 Its promoter is Mahindra & Mahindra Limited, and it is part of the Mahindra Group.91
Tech Mahindra key points
Results
- In the quarter to Sep 2026, consolidated revenue was ₹16,180 crore, up 15.6% from a year earlier; in US dollars it was $1,693 million, up 6.8%, or 7.2% in constant currency (at the year-earlier exchange rates).10
- In the quarter to Sep 2026, profit after tax was ₹1,586 crore, up 32.7%, and $166 million, up 23.2%. EBIT (operating profit before interest and tax) was ₹2,387 crore, up 40.5%, aided by rupee depreciation, and $250 million, up 30.4%, a 14.8% margin.111213
- In the year to Mar 2026, consolidated revenue was ₹56,815 crore, up 7.2%, or 0.6% in constant currency; EBIT rose 39.2% to ₹7,152 crore and net profit rose 13.2% to ₹4,811 crore.14
- The total dividend for the year to Mar 2026 was ₹51 per share, the highest in the company's history.15
Business segments
- Information Technology (IT) services. IT segment revenue grew 1.7% in US dollars from the previous quarter in the quarter to Sep 2026.16
- Business Process Services (BPS). Runs contact centres, sales and retention, technical support, back-office operations and collections for clients; BPS segment revenue grew 3.3% in US dollars from the previous quarter in the quarter to Sep 2026.1716
- Among service lines, digital enterprise applications (ServiceNow, Salesforce, SAP and Oracle work) grew almost 13% from a year earlier in the quarter to Sep 2026.18
Revenue mix
- Share of revenue by industry, quarter to Sep 20261920Communications revenue grew 9.5% from a year earlier, helped by the ramp-up of a large deal with Orange.
Item quarter to Sep 2026 Communications 33.5% Manufacturing 18.2% Banking, financial services and insurance 16.4% Technology, media and entertainment 13.0% Retail, logistics and transport 8.7% Healthcare and life sciences 7.3% Others 2.8%
Customers and partners
- The company had 33 clients of $50 million or more and 66 clients of $20 million or more in the quarter to Sep 2026, up 7 and 3 from a year earlier.23
- New deal wins (the total value of contracts signed) were $1,023 million in the quarter to Sep 2026; over the last 12 months they were $4,270 million, up 34.8% from a year earlier.24
- Contracts won in the quarter to Sep 2026 include a 5-year managed services engagement with an Australian telecom operator and an application management engagement with a Canadian insurer.25
What the company expects
- On its earnings call of 15 Oct 2026, the company said it remains on track for its EBIT margin target of 15% for the year to Mar 2027.26
- The company said on its earnings call of 15 Oct 2026 that it aims to keep free cash flow (cash from operations after capital spending) at 90% to 100% of profit after tax for the year to Mar 2027.27
- The company said on its earnings call of 15 Oct 2026 that its capital allocation policy is to return 85% or more of free cash flow to shareholders.28
- On its earnings call of 15 Oct 2026, the company said it expects to start reporting its AI revenue with its disclosures for the half year to Mar 2027.29
Recent events
- On 15 Oct 2026 the board approved a 1:1 bonus issue (1 new share for every share held), subject to shareholder approval, and declared an interim dividend of ₹15 per share.30
- On 25 Sep 2026 CARE Ratings reaffirmed its credit ratings (its view of the company's ability to repay) on the company's bank facilities: CARE AAA with a stable outlook on long-term facilities, and CARE AAA; Stable / CARE A1+ on long-term or short-term ones.31
- On 27 Jul 2026 a subsidiary bought the remaining 20% of Tech Mahindra Arabia Limited for SAR 83.7 million (₹2,148 million), making it wholly owned.32
- On 30 Apr 2026 the group agreed to buy 85% of Alluri Technologies (Avant), which builds payment and wealth platforms for North American banks, for CAD 28 million before adjustments, and the remaining 15% by 30 Jun 2029; Avant was a subsidiary by Sep 2026.333435
Litigation and regulatory matters
- As of its results of 15 Oct 2026, 37 companies had filed petitions in the City Civil Court, Secunderabad, seeking repayment of ₹12,304 million of alleged advances to the former Satyam, plus 18% a year; the company shows the amount in a separate suspense account.36
- The petitions over the alleged advances to the former Satyam were pending final adjudication; management, citing legal opinion and a lack of supporting documents, expects the claims not to be payable.37
Last updated
All 37 sources, each with its page
- 1. Investor presentation, 15 Oct 2026, page 59
- 2. Annual report, 23 Jun 2026, page 400
- 3. Earnings call, 15 Oct 2026, page 3
- 4. Investor presentation, 15 Oct 2026, page 17
- 5. Annual report, 23 Jun 2026, page 283
- 6. Investor presentation, 15 Oct 2026, page 30
- 7. Annual report, 23 Jun 2026, page 3
- 8. Investor presentation, 15 Oct 2026, page 20
- 9. Annual report, 23 Jun 2026, page 372
- 10. Investor presentation, 15 Oct 2026, page 30
- 11. Investor presentation, 15 Oct 2026, page 30
- 12. Investor presentation, 15 Oct 2026, page 44
- 13. Earnings call, 15 Oct 2026, page 10
- 14. Annual report, 23 Jun 2026, page 46
- 15. Annual report, 23 Jun 2026, page 46
- 16. Investor presentation, 15 Oct 2026, page 44
- 17. Annual report, 23 Jun 2026, page 40
- 18. Earnings call, 15 Oct 2026, page 12
- 19. Investor presentation, 15 Oct 2026, page 46
- 20. Earnings call, 15 Oct 2026, page 3
- 21. Investor presentation, 15 Oct 2026, page 46
- 22. Annual report, 23 Jun 2026, page 90
- 23. Investor presentation, 15 Oct 2026, page 44
- 24. Earnings call, 15 Oct 2026, page 10
- 25. Earnings call, 15 Oct 2026, page 6
- 26. Earnings call, 15 Oct 2026, page 12
- 27. Earnings call, 15 Oct 2026, page 11
- 28. Earnings call, 15 Oct 2026, page 11
- 29. Earnings call, 15 Oct 2026, page 10
- 30. Investor presentation, 15 Oct 2026, page 20
- 31. Exchange filing, 25 Sep 2026, page 1
- 32. Investor presentation, 15 Oct 2026, page 21
- 33. Exchange filing, 30 Apr 2026, page 2
- 34. Exchange filing, 30 Apr 2026, page 3
- 35. Investor presentation, 15 Oct 2026, page 10
- 36. Investor presentation, 15 Oct 2026, page 20
- 37. Investor presentation, 15 Oct 2026, page 20
Results
Consolidated; ₹ crore.Tech Mahindra quarterly results
- Revenue growth, 12 monthsRevenue growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- +13.6%
- Net profit growth, 12 monthsNet profit growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- +23.7%
Quarter to Sep 2026, against the quarter before
- RevenueRevenue. The pill is the change in revenue against the quarter before: this period's figure divided by that one's, less one, in per cent.
- ₹16,180 Crup 2.98%
- Net profitNet profit. The pill is the change in net profit against the quarter before: this period's figure divided by that one's, less one, in per cent. Net profit in the glossary
- ₹1,610 Crup 8.30%
- Net marginNet margin. Net profit as a percentage of revenue: how much of each rupee of sales is left after every cost, interest and tax. Net margin in the glossary
- 9.9%
Revenue by quarter
Peak revenue ₹16,180 Cr, quarter to Sep 2026; lowest ₹13,286 Cr, quarter to Dec 2024
Net profit by quarter, a loss in red
| ₹ crore | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 13,286 | 13,384 | 13,351 | 13,995 | 14,393 | 15,076 | 15,712 | 16,180 |
| Net profit | 989 | 1,142 | 1,129 | 1,202 | 1,119 | 1,356 | 1,486 | 1,610 |
| Net margin | 7.4% | 8.5% | 8.5% | 8.6% | 7.8% | 9.0% | 9.5% | 9.9% |
Consolidated. The last eight quarters. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.
Year to Mar 2026, against the year before
- RevenueRevenue. The pill is the change in revenue against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹56,815 Crup 7.22%
- Net profitNet profit. The pill is the change in net profit against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹4,806 Crup 12.99%
- Net margin
- 8.5%
Revenue by year
Peak revenue ₹56,815 Cr, year to Mar 2026; lowest ₹29,141 Cr, year to Mar 2017
Net profit by year, a loss in red
| ₹ crore | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 29,141 | 30,773 | 34,742 | 36,868 | 37,855 | 44,646 | 53,290 | 51,995 | 52,988 | 56,815 |
| Net profit | 2,851 | 3,786 | 4,289 | 3,897 | 4,353 | 5,630 | 4,857 | 2,397 | 4,253 | 4,806 |
| Net margin | 9.8% | 12.3% | 12.3% | 10.6% | 11.5% | 12.6% | 9.1% | 4.6% | 8.0% | 8.5% |
Consolidated. Years to March. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.
Business segments
Share of revenue, year to Mar 2026, consolidated.Segment revenue and profit
- ITIT, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹47,767 Cr84.1%
- BPSBPS, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹9,048 Cr15.9%
Valuation
Today, against the company's own history.Tech Mahindra PE ratio and valuation
Price to earnings
At or below today's level on 75% of 2,102 trading days over the last 10 years.
LowestHighest
Its median23.59Industry median16.61
Price to book
At or below today's level on 91% of 1,980 trading days since Oct 2018.
LowestHighest
Its median4.24Industry median2.47
Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price. When a year's dividend goes ex later than the year before's, the yield reads zero for the days between; a run of under 60 such trading days is left out of the yield's medians and percentiles. The ex-date is the day from which a buyer of the share no longer gets the dividend.
At or below today's level on 49% of 2,478 trading days over the last 10 years.
LowestHighest
Its median2.85%Industry median1.56%
Where the return came from
Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.
| Over | Return a year | Earnings growth | Change in P/E | Dividend yield |
|---|---|---|---|---|
| 1 year | +1.3% | +13.1% | −13.7% | 3.7% |
| 3 years | +11.3% | −0.3% | +8.2% | 3.4% |
| 5 years | +10.4% | +1.4% | +5.4% | 3.5% |
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add.
Mutual fund holdings
448 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 178 of the 248 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future. 3 more funds filed their first portfolio on record, holding it.All 448 funds holding Tech Mahindra
- Bought for the first timeBought for the first time. Funds that held it at the month's end and had not held it in any month on record before.
- 1
- Bought againBought again. Funds that held it at the month's end, had not held it the month before, and held it in an earlier month.
- 4
- AddedAdded. Funds that held more shares than at the end of the month before.
- 124
- CutCut. Funds that held fewer shares than at the end of the month before.
- 124
- Held unchangedHeld unchanged. Funds that held the same number of shares as at the end of the month before.
- 192
- Sold outSold out. Funds that held it at the end of the month before and hold none at this month's end. Sold out in the glossary
- 11
| Fund | |||
|---|---|---|---|
 SBI Nifty 50 ETFSBI Mutual Fund | 1,23,20,239 | 0.92% | ₹1,877.6 Cr |
| SBI BSE Sensex ETFSBI Mutual Fund | 85,60,194 | 1.14% | ₹1,312.1 Cr |
 ICICI Prudential Technology FundICICI Prudential Mutual Fund | 68,79,513 | 8.38% | ₹1,048.4 Cr |
| SBI Large Cap FundSBI Mutual Fund | 65,00,000 | 1.89% | ₹990.6 Cr |
| SBI Balanced Advantage FundSBI Mutual Fund | 54,82,687 | 2.06% | ₹835.6 Cr |
| SBI Contra FundSBI Mutual Fund | 52,95,681 | 1.79% | ₹807.1 Cr |
 Tata Digital India FundTata Mutual Fund | 50,62,533 | 8.32% | ₹771.5 Cr |
 Kotak Flexi Cap FundKotak Mahindra Mutual Fund | 47,00,000 | 1.35% | ₹716.3 Cr |
 UTI Nifty 50 ETFUTI Mutual Fund | 42,25,167 | 0.92% | ₹643.9 Cr |
| ICICI Prudential Large Cap FundICICI Prudential Mutual Fund | 41,36,204 | 0.83% | ₹630.4 Cr |
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.
Promoter and insider buying and selling
Trades made since 28 Oct 2025.Tech Mahindra insider trading
No promoter, director, key manager or employee bought or sold on the market.
- Others: no market trade · 6 pledge filings of unclear kind
Bought and sold count trades on the market only. A pledge is shares given to a lender as security for a loan; a lender invokes it by selling them.
Tech Mahindra competitors and peers
Computers - Software & Consulting, 98 listed companies, priced on 27 Oct 2026. The table lists the 8 companies closest to Tech Mahindra in market cap.IT companies
Where the company sits among the companies nearest its size
| Company | ||||||||
|---|---|---|---|---|---|---|---|---|
 Tata Consultancy ServicesTCS | 9,03,400 | 17.51 | 7.59 | +9.9% | +4.4% | 45.8% | 58.0% | 4.49% |
 InfosysINFY | 4,71,978 | 15.35 | 4.76 | +11.7% | +9.3% | 30.4% | 39.9% | 2.15% |
 HCL TechnologiesHCLTECH | 3,85,340 | 21.03 | 5.06 | +12.8% | +7.9% | 24.9% | 31.4% | 4.23% |
 WiproWIPRO | 1,85,228 | 14.06 | 2.35 | +8.2% | −2.4% | 16.0% | 15.9% | 4.28% |
 LTMLTM | 1,20,419 | 23.04 | 4.65 | +14.7% | +7.4% | 21.2% | 27.3% | 1.92% |
 Persistent SystemsPERSISTENT | 92,008 | 51.02 | 10.71 | +27.1% | +8.3% | 22.9% | 27.2% | 0.69% |
 CoforgeCOFORGE | 88,475 | 45.14 | 3.96 | +41.2% | +68.0% | 13.4% | 10.7% | 0.60% |
 MphasiSMPHASIS | 49,998 | 26.17 | 4.65 | +13.7% | +9.8% | 18.8% | 19.9% | 2.37% |
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page.
Dividends
Per share, by the year it was paid for, and the latest payments.Tech Mahindra dividend history
Dividend per share, ₹, restated for later splits and bonuses
Dividend per share. The dividends declared for the year, each restated to today's share count by the splits and bonuses after its own ex-date, added up. Dividend per share in the glossaryHighest ₹51.00 a share, year to Mar 2026.
| Ex-date | Type | Per share |
|---|---|---|
| 23 Oct 2026 | Interim | ₹15.00 |
| 3 Jul 2026 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. Final dividend in the glossary | ₹36.00 |
| 20 Oct 2025 | Interim | ₹15.00 |
| 4 Jul 2025 | Final | ₹30.00 |
| 31 Oct 2024 | Interim | ₹15.00 |
| 19 Jul 2024 | Final | ₹28.00 |
Latest payments, as declared, by ex-date.
Latest announcements
Routine notices left out.Tech Mahindra announcements
Oct 2026
22 Oct · Meeting
16 Oct · General Updates
15 Oct · Results
9 Oct · Sale or disposal
Tech Mahindra share price by year
Each calendar year to 2025.Tech Mahindra share price history
| Year | Close at year end | Change | Highest close | Lowest close |
|---|---|---|---|---|
| 2025 | 1,590.90 | −6.8% | 1,726.95 | 1,272.75 |
| 2024 | 1,706.20 | +34.1% | 1,796.40 | 1,179.65 |
| 2023 | 1,272.65 | +25.2% | 1,306.10 | 986.15 |
| 2022 | 1,016.40 | −43.2% | 1,789.80 | 965.05 |
| 2021 | 1,790.55 | +84.0% | 1,806.10 | 918.85 |
| 2020 | 973.20 | +27.7% | 983.25 | 487.20 |
| 2019 | 762.30 | +5.4% | 837.00 | 625.65 |
| 2018 | 723.15 | +43.5% | 775.05 | 503.10 |
| 2017 | 504.05 | +3.1% | 514.25 | 376.30 |
| 2016 | 488.90 | −6.3% | 551.70 | 408.55 |
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before.
Recent sessions
The 9 trading days to 26 Oct 2026, as traded on NSE; the latest is at the top of the page.
| Date | Open | High | Low | Close | Average price | Volume | Delivery |
|---|---|---|---|---|---|---|---|
| 26 Oct 2026 | 1,760.50 | 1,807.00 | 1,754.60 | 1,795.00 | 1,782.61 | 39,70,766 | 58.0% |
| 23 Oct 2026 | 1,837.40 | 1,845.00 | 1,780.20 | 1,790.00 | 1,804.77 | 34,51,268 | 47.4% |
| 22 Oct 2026 | 1,829.00 | 1,844.10 | 1,784.80 | 1,829.10 | 1,811.53 | 40,77,602 | 52.6% |
| 21 Oct 2026 | 1,795.20 | 1,834.70 | 1,790.00 | 1,834.70 | 1,818.57 | 54,44,847 | 48.7% |
| 19 Oct 2026 | 1,760.00 | 1,796.00 | 1,752.70 | 1,779.10 | 1,775.51 | 39,46,622 | 41.7% |
| 16 Oct 2026 | 1,712.00 | 1,797.00 | 1,690.10 | 1,790.00 | 1,756.03 | 2,08,29,435 | 28.1% |
| 15 Oct 2026 | 1,600.00 | 1,650.00 | 1,596.10 | 1,650.00 | 1,629.81 | 86,57,928 | 53.2% |
| 14 Oct 2026 | 1,540.00 | 1,581.70 | 1,538.20 | 1,575.20 | 1,558.60 | 36,51,697 | 45.5% |
| 13 Oct 2026 | 1,479.50 | 1,543.50 | 1,479.50 | 1,543.50 | 1,524.67 | 32,58,982 | 35.5% |
Prices in ₹ per share as traded, not adjusted.
Price adjustments
What the price chart is corrected for, so it reads as one share held throughout.Bonus shares and stock split history
| Ex-date | Event | Price factor | What happened |
|---|---|---|---|
| 19 Mar 2015 | Bonus | 0.5000 | Holders received 1 bonus share for every 1 held. |
| 19 Mar 2015 | Split | 0.5000 | Each share became 2. |
| 9 Jun 2009 | Price move | – | Between two trading sessions the price moved by a fifth or more. No corporate action is on record. Not adjusted for. |
Earlier prices are multiplied by the factor, so the chart reads as one share held throughout. Any other event is noted and not adjusted for.
Company details
- NSE symbol
- TECHM
- BSE code
- 532755
- ISIN
- INE669C01036
- Industry
- IT - Software
- Website
- www.techmahindra.com
- CIN
- L64200MH1986PLC041370
- Corporate identity number, the registrar of companies' code for it
- Incorporated
- 1986
- Registered office
- Gateway Building, Apollo Bunder, Mumbai 400001, Maharashtra
- Share registrar
- MUFG Intime India Pvt. Ltd
- Keeps the register of shareholders and handles transfers and dividend payments
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