Valuation Tech Mahindra Limited

Equities

Market Closed - NSE India S.E. Other stock markets 07:05:05 2026-03-13 EDT			5-day change	1st Jan Change
1,332.80 ^INR	-1.26%		-0.04%	-16.22%

03-10	Tech Mahindra Voluntarily Liquidates Step-Down Subsidiary	MT
03-08	Tech Mahindra denies proposal for significant headcount reduction	RE

Data adjusted to current consolidation scope

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Capitalization ¹	866,483	1,315,817	969,531	1,101,477	1,254,808	1,180,253	-	-
Change	-	51.86%	-26.32%	13.61%	13.92%	-5.94%	-	-
Enterprise Value (EV) ¹	758,130	1,247,530	914,934	1,041,638	1,200,710	1,125,544	1,118,338	1,105,607
Change	-	64.55%	-26.66%	13.85%	15.27%	-6.26%	-0.64%	-1.14%
P/E ratio	19.8x	23.9x	20.2x	47x	29.6x	23.2x	17.6x	15.8x
PBR	3.48x	4.89x	3.49x	4.15x	4.59x	4.3x	4.09x	3.95x
PEG	-	1x	-1.5x	-0.9x	0.4x	1.2x	0.6x	1.4x
Capitalization / Revenue	2.29x	2.95x	1.82x	2.12x	2.37x	2.09x	1.95x	1.81x
EV / Revenue	2x	2.79x	1.72x	2x	2.27x	2x	1.84x	1.7x
EV / EBITDA	11.1x	15.6x	11.4x	21x	17.2x	12.6x	10.5x	9.43x
EV / EBIT	14.1x	19.2x	15.1x	33.1x	23.4x	16x	12.8x	11.4x
EV / FCF	10.2x	28.8x	20.1x	18.6x	18.8x	21.7x	17.2x	15.1x
FCF Yield	9.8%	3.47%	4.98%	5.36%	5.31%	4.6%	5.81%	6.61%
Dividend per Share ²	45	45	50	40	45	50.09	60	66.11
Rate of return	4.54%	3%	4.54%	3.2%	3.17%	3.76%	4.5%	4.96%
EPS ²	50.19	62.81	54.54	26.58	47.91	57.46	75.67	84.22
Distribution rate	89.7%	71.6%	91.7%	150%	93.9%	87.2%	79.3%	78.5%
Net sales ¹	378,551	446,460	532,902	519,955	529,883	563,432	606,604	650,781
EBITDA ¹	68,470	80,200	80,288	49,645	69,911	89,183	106,885	117,295
EBIT ¹	53,893	64,996	60,721	31,474	51,382	70,389	87,385	97,138
Net income ¹	44,280	55,661	48,313	23,578	42,515	50,471	67,056	74,803
Net Debt ¹	-108,353	-68,287	-54,597	-59,839	-54,098	-54,709	-61,916	-74,647
Reference price ²	991.45	1,499.45	1,101.85	1,248.10	1,418.25	1,332.80	1,332.80	1,332.80
Nbr of stocks (in thousands)	873,955	877,533	879,912	882,523	884,758	885,544	-	-
Announcement Date	4/26/21	5/13/22	4/27/23	4/25/24	4/24/25	-	-	-

¹INR in Million²INR

Estimates

Add to a list 0 selected To use this feature you must be a member Log in Sign up	P/E (Y)	EV / Sales (Y)	EV / EBITDA (Y)	Dividend Yield (Y)	Capi.($)
TECH MAHINDRA LIMITED	23.49x	2.02x	12.79x	3.71%	12.95B
IBM	22.81x	3.81x	13.61x	2.73%	232B
ACCENTURE PLC	14.55x	1.55x	8.25x	3.32%	121B
TATA CONSULTANCY SERVICES LTD.	17.41x	3.19x	11.74x	4.94%	95.71B
AUTOMATIC DATA PROCESSING, INC.	18.9x	3.23x	11.07x	3.11%	83.53B
RELX PLC	20.4x	5.34x	13.17x	2.8%	62.01B
SNOWFLAKE INC.	-45.3x	12.48x	91.47x	-.--%	60.65B
INFOSYS LIMITED	18.17x	2.69x	11.44x	3.92%	55.48B
HCL TECHNOLOGIES LIMITED	21.49x	2.64x	12.68x	4.21%	39.8B
FUJITSU LIMITED	14.2x	1.61x	11.17x	1.03%	38.7B
Average	12.61x	3.86x	19.74x	2.98%	80.19B
Weighted average by Cap.	14.39x	3.84x	17.84x	3.01%