Tech Mahindra Ltd Q2 FY27 Share Price & Earnings Call Analysis

Management guidance · Q2 FY27 call

How Tech Mahindra Ltd's management guidance ranks

Revenue growth 10–20%Margin up 0–2%
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

71out of 100

Momentum score · price trend

71 out of 100 — Strengthening

Over the past year its share price has done better than most of the stocks we track.

PeriodShare price changeBetter than … of 1,904 stocks
Last 12 months+22.3%71%
Last 6 months+18.4%68%
Last 3 months+13.8%79%
How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,904 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Tech Mahindra Ltd: 0.4 × 71 + 0.4 × 68 + 0.2 × 79 = 71.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 16 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Tech Mahindra Ltd announcements

All announcements →

Financials of Tech Mahindra Ltd

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of Tech Mahindra Ltd

Quarterly Results

Quarter-by-quarter operating performance

Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales +13,71813,15912,86413,10112,87113,00613,31313,28613,38413,35113,99514,39315,076
Expenses +11,91511,82111,95011,95511,77211,44111,56311,47711,54511,41611,83012,02812,511
Operating Profit1,8031,3389141,1461,0991,5641,7501,8091,8391,9352,1652,3662,565
OPM %13%10%7%9%9%12%13%14%14%14%15%16%17%
Other Income +306200264923801475222317321940-293-205
Interest9312098116587289768578779489
Depreciation490447466443461462470459462458469474481
Profit before tax1,5259716156799591,1781,7141,2971,4641,6181,6591,5051,791
Tax %26%28%18%23%31%27%27%24%22%30%28%26%24%
Net Profit +1,1257045055246648651,2589891,1421,1291,2021,1191,356
EPS in Rs11.477.105.065.236.778.7112.7810.0511.9211.6512.1911.4513.82

Financials of Tech Mahindra Ltd

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales +22,62126,49429,14130,77334,74236,86837,85544,64653,29051,99652,98856,815
Expenses +18,42822,23424,95626,06328,47131,36531,05936,62645,52747,48946,02447,783
Operating Profit4,1934,2604,1844,7106,2715,5036,7968,0207,7634,5066,9649,033
OPM %19%16%14%15%18%15%18%18%15%9%13%16%
Other Income +1064537751,4175341,1927881,115965927864-240
Interest6997129162133192174163326392322337
Depreciation6117599781,0851,1291,4461,4581,5201,9571,8171,8531,882
Profit before tax3,6183,8573,8534,8795,5435,0585,9537,4526,4463,2245,6536,573
Tax %27%22%26%22%23%23%27%24%25%26%25%27%
Net Profit +2,6593,0272,8513,7864,2893,8974,3535,6304,8572,3974,2534,806
EPS in Rs27.3530.9228.8838.7843.7041.7645.7357.2749.6024.1443.4349.10
Dividend Payout %22%35%28%33%29%32%89%47%91%150%94%94%

Financials of Tech Mahindra Ltd

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital480436439442444436437439440441442443
Reserves11,76814,15515,99818,40119,84121,37724,42826,44727,48426,22826,91929,173
Borrowings +7001,0911,3662,3971,9963,6702,9012,6182,7402,5372,0252,186
Other Liabilities +6,8996,8438,2549,19211,16611,83411,83614,91115,16213,94314,88017,568
Total Liabilities19,84822,52526,05730,43133,44637,31839,60244,41645,82743,14944,26749,369
Fixed Assets +4,0334,3096,4607,6227,0618,8729,01814,78414,93213,90313,98214,864
CWIP568629373240276501181651201332127
Investments2,1031,2972,3964,8417,3425,84810,2384,8843,3883,2383,1823,426
Other Assets +13,14516,28916,82817,72818,76622,54820,22824,58327,38825,87527,08231,053
Total Assets19,84822,52526,05730,43133,44637,31839,60244,41645,82743,14944,26749,369

Financials of Tech Mahindra Ltd

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +2,4483,1374,0713,5544,4324,3588,0945,2855,5726,3765,7866,172
Cash from Investing Activity +-1,865-1,453-2,893-3,319-2,1041,081-5,433480-226-1,31820-409
Cash from Financing Activity +-829-496-1,571-269-2,251-4,466-2,987-4,667-5,078-4,767-5,834-5,130
Net Cash Flow-2461,188-392-3577974-3261,098267291-29632
Free Cash Flow1,3352,2663,3112,7633,6533,5297,5214,4504,6035,6395,3035,626
CFO/OP84%105%123%108%97%107%140%95%97%169%104%87%

Financials of Tech Mahindra Ltd

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days848067777375629888808048
Inventory Days
Days Payable
Cash Conversion Cycle848067777375629888808048
Working Capital Days545857422435242928232551
ROCE %32%27%23%24%25%22%23%26%22%12%19%23%

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