Tech Mahindra Financial Statements

Name: Tech Mahindra Financials — historical data
Creator: StockeZee

For Mar 2026, Tech Mahindra reported revenue of ₹56,815 crore and net profit of ₹4,811 crore. Return on equity stands at 17.50%. Profit & loss, balance sheet and cash flow across 9 reported years are below.

Updated 31 Jul 2026Source: NSE & BSE company filingsNifty 50 constituent

Latest year revenue: ₹56,815 Cr
EBITDA: ₹9,034 Cr
Operating margin: 15.9%
Profit after tax: ₹4,811 Cr
Net margin: 8.47%
EPS: ₹49.1
Latest year: Mar 2026
Years reported: 9

Tech Mahindra profit & loss

Reported annual performance for Tech Mahindra, oldest to newest. Figures in ₹ crore unless a row states otherwise.

Tech Mahindra annual profit and loss statement. Figures in ₹ crore unless a row states otherwise.
Line item	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue from Operations	30,773	34,742	36,868	37,855	44,646	53,290	51,995	52,988	56,815
Sales Growth YoY %	—	12.9%	6.12%	2.68%	17.94%	19.36%	-2.43%	1.91%	7.22%
Other Income	1,416	534	1,192	787	1,112	965	917	855	32
Total Income	32,189	35,276	38,060	38,642	45,758	54,255	52,912	53,844	56,847
Gross Profit	30,773	34,742	36,868	37,855	44,646	53,290	51,995	52,988	56,815
Gross Margin %	100%	100%	100%	100%	100%	100%	100%	100%	100%
Total Operating Expenses	26,063	28,405	31,359	31,059	36,626	45,498	47,489	46,025	47,781
Employee Benefit Expense	16,624	17,508	18,810	19,297	22,286	27,692	29,128	29,624	30,479
Other Expenses	9,439	10,897	12,549	11,762	14,340	17,807	18,361	16,401	17,303
EBITDA	4,710	6,337	5,509	6,796	8,020	7,792	4,506	6,964	9,034
OPM %	15.3%	18.24%	14.94%	17.95%	17.96%	14.62%	8.67%	13.14%	15.9%
Total Non-Operating Expenses	1,247	1,197	1,632	1,633	1,686	2,253	2,220	2,183	1,945
Depreciation & Amortisation	1,085	1,129	1,446	1,458	1,520	1,957	1,817	1,853	1,882
Finance Costs	162	133	192	174	163	326	392	322	337
Exceptional Items (Before Tax)	0	-66	-6	1	3	-29	11	9	-274
Profit Before Tax (PBT)	4,879	5,543	5,058	5,953	7,452	6,445	3,224	5,653	6,573
Tax Expense	1,093	1,254	1,160	1,600	1,822	1,589	828	1,400	1,768
Current Tax	1,177	1,379	1,238	1,812	1,742	1,951	1,048	1,900	2,002
Deferred Tax	-84	-124	-77	-212	80	-363	-220	-499	-235
Effective Tax %	22.4%	22.63%	22.94%	26.88%	24.45%	24.65%	25.67%	24.77%	26.89%
Total Profit for Period	3,786	4,289	3,897	4,353	5,630	4,857	2,397	4,253	4,806
Less: Non-controlling Interests	-14	-9	-136	-75	64	26	39	2	-5
Net Profit (Owner's PAT)	3,800	4,298	4,033	4,428	5,566	4,831	2,358	4,252	4,811
Net Profit Margin %	12.35%	12.37%	10.94%	11.7%	12.47%	9.07%	4.53%	8.02%	8.47%
PAT Growth YoY %	—	13.1%	-6.16%	9.79%	25.7%	-13.2%	-51.2%	80.32%	13.16%
Earnings Per Share (EPS)	₹38.78	₹43.7	₹41.76	₹45.73	₹57.27	₹49.59	₹24.14	₹43.43	₹49.1
Diluted Shares Outstanding (Cr.)	98	98	97	97	97	97	98	98	98
Other Comprehensive Income (Net of Tax)	-219	243	-106	424	231	62	157	246	1,394
Expenses	27,311	29,733	33,002	32,689	38,306	47,810	49,688	48,191	50,274
Material Cost %	0%	0%	0%	0%	0%	0%	0%	0%	0%
Employee Cost %	54.02%	50.39%	51.02%	50.98%	49.92%	51.96%	56.02%	55.91%	53.65%
Other Cost %	30.67%	31.37%	34.04%	31.07%	32.12%	33.41%	35.31%	30.95%	30.45%
Interest Coverage (x)	22.32	39.1	21.17	30.68	39.97	17.92	6.86	15.89	21.2

Tech Mahindra revenue and profit trend

Reported annual revenue and net profit, oldest to newest. Two panels because the two measures live on different scales — one shared axis would distort both.

Tech Mahindra balance sheet

Assets, liabilities and shareholders' equity as reported, in Schedule III order. Figures in ₹ crore unless a row states otherwise.

Tech Mahindra annual balance sheet with assets, liabilities and equity. Figures in ₹ crore unless a row states otherwise.
Line item	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Total Equity	20,762	22,206	25,245	27,381	28,395	27,147	27,792	30,077
Equity Share Capital	444	436	437	439	440	441	442	443
Reserves & Surplus	19,841	21,377	24,428	26,447	27,485	26,228	26,919	29,173
Equity Method Investments	36	20	28	197	173	46	54	55
Total Equity	20,762	22,206	25,245	27,381	28,395	27,147	27,792	30,077
Non-Current Liabilities	2,354	4,221	4,156	3,754	3,207	2,430	4,029	4,795
Long-term Borrowings	209	179	166	142	129	103	1,147	1,589
Deferred Tax Liabilities	1	36	76	455	326	275	228	202
Non-Current Provisions	580	669	781	881	929	1,302	1,403	1,716
Other Non-Current Liabilities	1,263	1,252	1,403	798	25	25	1,235	1,234
Non-Current Financial Liabilities	510	2,265	1,896	1,620	1,927	828	1,163	1,644
Current Liabilities	10,331	10,926	10,278	13,735	14,551	13,847	12,674	14,498
Short-term Borrowings	1,196	2,250	1,496	1,440	1,449	1,429	878	597
Trade Payables	2,489	3,257	2,785	4,095	4,385	4,120	4,411	5,040
Current Financial Liabilities	7,158	7,642	6,772	8,559	9,167	9,173	7,573	8,630
Other Current Financial Liabilities	3,473	2,136	2,491	3,024	3,333	3,625	2,285	2,993
Other Current Liabilities	1,761	1,827	1,860	3,461	3,212	2,247	2,053	2,512
Current Provisions	395	436	531	672	631	1,137	1,277	1,209
Current Tax Liabilities	1,018	1,021	1,114	1,044	1,541	1,289	1,771	2,147
Total Liabilities	12,685	15,147	14,434	17,490	17,759	16,277	16,703	19,292
Total Non-Current Assets	11,881	14,181	14,423	20,415	21,721	19,998	20,815	21,795
Property, Plant & Equipment (PPE)	2,623	2,661	2,463	2,682	2,862	2,558	2,381	2,426
Capital Work-in-Progress	276	50	118	165	84	101	21	27
Intangible Assets	1,451	1,506	1,451	3,659	3,232	2,803	2,349	1,970
Investment Property	171	144	89	80	75	71	34	32
Non-Current Investments	716	216	548	251	432	412	235	35
Loans – Non-Current	4	5	5	14	5	11	11	7
Other Non-Current Assets	2,693	4,916	4,323	4,649	5,527	768	5,637	6,244
Non-Current Financial Assets	1,205	653	1,029	739	770	4,669	784	398
Net Fixed Assets	4,350	4,217	4,032	6,506	6,177	5,462	4,750	4,422
Total Current Assets	21,566	23,172	25,255	24,456	24,433	23,425	23,679	27,575
Inventories	75	36	24	41	24	38	39	104
Trade Receivables	6,959	7,577	6,473	11,933	12,882	11,401	11,547	13,358
Cash & Cash Equivalents	2,043	3,017	2,690	3,789	4,056	4,347	4,319	5,046
Current Investments	6,590	5,612	9,662	4,436	2,783	2,779	2,893	3,336
Current Financial Assets	18,814	20,073	22,298	21,019	20,419	19,348	19,394	22,246
Other Current Assets	2,677	3,063	2,933	3,396	3,990	4,040	4,246	5,224
Other Current Financial Assets	2,906	3,736	3,328	675	500	432	412	448
Net Working Capital	11,235	12,247	14,978	10,720	9,881	9,578	11,005	13,077
Additional Asset Fields	1,087	1,238	1,293	1,315	1,767	1,917	2,288	2,648
Def Tax Assets	609	844	913	819	1,297	1,440	1,857	2,186
Non Controlling Int	478	393	380	495	470	477	430	462
Total Assets	33,447	37,354	39,678	44,871	46,153	43,424	44,495	49,369
Total Borrowings	1,405	2,428	1,662	1,582	1,578	1,531	2,025	2,186
Net Debt	-638	-589	-1,029	-2,207	-2,478	-2,816	-2,293	-2,860
Debt to Equity (x)	0.07	0.11	0.07	0.06	0.06	0.06	0.07	0.07
Current Ratio (x)	2.09	2.12	2.46	1.78	1.68	1.69	1.87	1.9

Tech Mahindra cash flow statement

Cash generated and used across operating, investing and financing activities. Figures in ₹ crore unless a row states otherwise.

Tech Mahindra annual cash flow statement across operating, investing and financing activities. Figures in ₹ crore unless a row states otherwise.
Line item	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Net Cash from Operating Activities	5,285	5,572	6,376	5,786	6,172
Profit Before Tax	7,452	6,445	3,224	5,653	6,573
Depreciation & Amortisation	1,520	1,957	1,817	1,853	1,882
Finance Costs	163	326	392	322	337
Working Capital Changes	-1,467	-1,357	2,453	-199	-1,561
Tax Paid	-2,314	-1,993	-1,247	-1,474	-1,650
Net Cash from Investing Activities	482	-278	-1,314	-23	-409
Purchase of PPE	-958	-1,015	-791	-594	-696
Sale of Fixed Assets	-65	46	53	111	150
Interest Received	108	145	153	191	125
Net Cash from Financing Activities	-4,667	-5,078	-4,767	-5,799	-5,131
Proceeds from Borrowings	62	66	0	-1,043	-434
Repayment of Borrowings	-225	-225	-69	-33	0
Interest Paid	-123	-257	-351	-264	-208
Dividend Paid	-3,981	-4,263	-3,917	-3,842	-4,026
Buyback / Redemption of Shares	0	0	0	0	0
Lease Liabilities Paid	-518	-443	-454	-535	-464
Net Change in Cash	1,099	267	291	-29	728
Effect of Foreign Exchange Changes	-2	52	-5	8	95
Free Cash Flow	4,327	4,557	5,585	5,192	5,476
CFO / PBT (x)	0.71	0.86	1.98	1.02	0.94

Tech Mahindra key ratios

Valuation, profitability, return, leverage and per-share measures computed from reported statements — not from adjusted or normalised earnings.

Tech Mahindra trades at a P/E of 31.68× against a sector median of 19.75× — a 60% premium. Sector comparisons can mislead for conglomerates with mixed business lines.

Tech Mahindra valuation, profitability, return and leverage ratios
Ratio	Category	Value
P/E (TTM)	Valuation	31.68
Forward P/E	Valuation	16.48
P/B	Valuation	5.49
PEG (TTM)	Valuation	1.86
EV / EBITDA (TTM)	Valuation	13.44
P/S (TTM)	Valuation	2.5
Operating margin	Profitability	16.6%
Net margin (TTM)	Profitability	8.47%
Return on equity	Return ratios	17.5%
Return on capital employed	Return ratios	23.1%
Return on assets	Return ratios	9.53%
Debt to equity	Leverage & liquidity	0.07
Beta	Leverage & liquidity	0.81
EPS (TTM)	Per share	₹57.88
Book value	Per share	₹334.41
Revenue / share (TTM)	Per share	₹641.03
Cash flow / share	Per share	₹69.68
Dividend yield	Shareholder returns	3.1%
Dividend payout (TTM)	Shareholder returns	149.58%

How this is calculated

Statements are as filed with the exchanges. Consolidated figures are shown where reported. Figures are in rupees crore unless the table states otherwise. Ratios are computed from the same reported statements, not from adjusted or normalised earnings.

Index membership reflects the Nifty 100 as published by NSE Indices, effective 2026-03-30.

Tech Mahindra: frequently asked questions

What is Tech Mahindra's annual revenue?

Tech Mahindra reported revenue of ₹56,815 crore in Mar 2026, up 7.2% on the previous financial year.

Is Tech Mahindra profitable?

Tech Mahindra reported a net profit of ₹4,811 crore in Mar 2026, up 13.2% on the previous financial year.

What is Tech Mahindra's EPS?

Tech Mahindra reported earnings per share of ₹49.1 for Mar 2026.

What is Tech Mahindra's operating margin?

Tech Mahindra's operating margin for Mar 2026 was 15.90%.

What is Tech Mahindra's return on equity?

Tech Mahindra's return on equity stands at 17.50%. ROE measures profit generated per rupee of shareholder equity.

How many years of Tech Mahindra financials are shown?

9 reported financial years are tabulated on this page, the most recent being Mar 2026.

Are these figures consolidated or standalone?

Consolidated figures are shown wherever the company reports them, and standalone otherwise. The basis in use is labelled on the statement table.

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Disclaimer

The data, ratios and commentary about Tech Mahindra Ltd (TECHM) on this page are published for educational and informational purposes only and are not investment, legal or tax advice. StockeZee is not a SEBI-registered investment adviser, research analyst or portfolio manager, and no content here should be construed as a recommendation to buy, hold or sell any security. Live and historical market data may be delayed, revised by the exchanges, or contain errors; figures sourced from third-party feeds and corporate disclosures may not always be current. Past performance is not indicative of future results, and equity investments carry the risk of capital loss. Before acting on anything you read here, please consult a SEBI-registered financial advisor and read all scheme-related documents carefully.