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Tech Mahindra Limited TECHM.NS

IN · National Stock Exchange of India · XNSE · stock · Technology · website

Tech Mahindra Limited statistics & valuation

Market cap₹1.45T
P / E30.1×
P / S2.5×
P / B4.9×
P / FCF26.4×
Net margin8.5%
FCF margin9.6%
Net cash₹28.6B
Enterprise value USD$14.9B
Earnings yield EBIT/EV5.2%
Return on capital21.2%
Graham number -60.9%₹638.45

Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value (₹638.45); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
9.10% 4.50% 8.00% 8.50% 2023202420252026
Gross margin (%)
27.30% 24.90% 26.70% 28.20% 2023202420252026
Operating margin (%)
11.70% 6.60% 9.80% 13.00% 2023202420252026
Return on equity (%)
17.30% 8.80% 15.50% 16.20% 2023202420252026
Shares outstanding
885.8M 885.8M 885.8M 885.8M 2023202420252026
Net debt (₹)
-₹13.16B -₹18.10B -₹22.93B -₹28.60B 2023202420252026
Share buybacks (₹)
2023202420252026
Return on assets (%)
10.50% 5.40% 9.60% 9.70% 2023202420252026
Free cash flow margin (%)
8.60% 10.70% 9.80% 9.60% 2023202420252026
Debt / equity (×)
0.10× 0.10× 0.07× 0.07× 2023202420252026
EPS (₹)
₹54.54 ₹26.58 ₹47.91 ₹54.19 2023202420252026

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

Tech Mahindra Limited trades at about 30.1× earnings — near its 10-year norm (10-year range 18.8×–47.5×, median 31.4×).

18.8× 47.5×

Shaded band = 10-year range (18.8×–47.5×); dot = today's 30.1×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2026FY2025FY2024FY2023
Gross margin28.2%26.7%24.9%27.3%
Operating margin13.0%9.8%6.6%11.7%
Net margin8.5%8.0%4.5%9.1%
FCF margin9.6%9.8%10.7%8.6%
Return on assets9.7%9.6%5.4%10.5%
Return on equity16.2%15.5%8.8%17.3%
Debt / equity0.00×0.00×0.00×
Current ratio1.901.871.861.83

Computed from company filings · IN · as of 2026-03-31. Figures in INR. Facts plus Stocktoria's own computed scores — not investment advice.