Tech Mahindra Ltd.
TECHMInformation Technology filings
We hold this company’s filings and have not read the financial statements out of them yet. Every filing on record is listed under filings, and each one opens.
Earnings calls
18 transcript(s)/analyst meet(s) served; 0 document(s) on file are not transcripts (cover letters, duplicates, unresolved) and are excluded. Speaker attribution is shown only where the segmenter attributes ≥ 95% of sentences to management or analysts (0 of 18 documents here); elsewhere sentences render unattributed.
| Kind | Date | Period | Served | Attribution rate |
|---|---|---|---|---|
| TRANSCRIPT | 20220516 | 2022-03-31 | yes | |
| TRANSCRIPT | 20220728 | 2022-06-30 | yes | |
| TRANSCRIPT | 20221107 | 2022-09-30 | yes | |
| TRANSCRIPT | 20230204 | 2022-12-31 | yes | |
| TRANSCRIPT | 20230505 | 2023-03-31 | yes | |
| TRANSCRIPT | 20230731 | 2023-06-30 | yes | |
| TRANSCRIPT | 20231030 | 2023-09-30 | yes | |
| TRANSCRIPT | 20240129 | 2023-12-31 | yes | |
| TRANSCRIPT | 20240502 | 2024-03-31 | yes | |
| TRANSCRIPT | 20240730 | 2024-06-30 | yes | |
| TRANSCRIPT | 20241023 | 2024-09-30 | yes | |
| TRANSCRIPT | 20250121 | 2024-12-31 | yes | |
| TRANSCRIPT | 20250430 | 2025-03-31 | yes | |
| TRANSCRIPT | 20250721 | 2025-06-30 | yes | |
| TRANSCRIPT | 20251017 | 2025-09-30 | yes | |
| TRANSCRIPT | 20260120 | 2025-12-31 | yes | |
| ANALYST_MEET | 20260428 | 2026-03-31 | yes | |
| TRANSCRIPT | 20260722 | 2026-06-30 | yes |
TECHM
files the standard Schedule III statements. Every figure below opens to the filing it was read from; where a figure is not shown, the reason is printed in its place.
Identity
| Statement division | general |
| Scope served | consolidated |
| Panels on this page | 4 |
Market
No split, bonus or consolidation is on record for this company inside the period this price series covers, so the closes need no adjustment.
| Last close | 1,543.00 |
| 52-week range | 1331.7 – 1768.4 |
| Return 1M | -3.56% |
| Return 3M | 7.37% |
| Return 1Y | 6.24% |
| Return 3Y | 18.74% |
| Return 5Y | 1.86% |
| Market capitalisation | not shown — we could not confirm it |
| Shares outstanding | not shown — we could not confirm it |
| P/E | not shown — we could not confirm it |
| P/B | not shown — we could not confirm it |
| EV/EBITDA | not shown — we could not confirm it |
Latest quarter filed — period ending 2026-06-30
In INR crore except per-share figures. `period_id` is the period the filing names for the number; the date beside each cell is when it was filed.
| Revenue from operations | 15,712.00 |
| Other income | -106.00 |
| Total income | 15,606.00 |
| Cost of materials consumed | 0.00 |
| Purchases of stock-in-trade | 0.00 |
| Changes in inventories | 0.00 |
| Employee benefit expense | 7,877.00 |
| Finance costs | 111.00 |
Ownership — 2026-06-30, and the change from 2026-03-31
| Holder | Per cent | Change |
|---|---|---|
| promoter and promoter group | 0.35 | 0.00 |
| institutions foreign | 0.19 | 0.00 |
| institutions domestic | 0.37 | -0.00 |
| mutual funds | 0.19 | 0.00 |
| public | 0.65 | 0.00 |
Documents on file
| Class | Most recent | On file |
|---|---|---|
| ANALYST_MEET | 2026-03-31 | 1 |
| TRANSCRIPT | 2026-06-30 | 17 |
Financial statements
Filed results, consolidated, in INR crore except per-share figures. Every figure opens to the filing it was read from. Quarterly and annual columns are the periods the filing itself names, never a document date.
Quarterly results, as filed
| Line | 2022-09-30 | 2022-12-31 | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 13,129.00 | 13,735.00 | 13,718.00 | 13,159.00 | 12,864.00 | 13,101.00 | 12,871.00 | 13,005.00 | 13,313.00 | 13,286.00 | 13,384.00 | 13,351.00 | 13,995.00 | 14,393.00 | 15,076.00 | 15,712.00 |
| Other income | 290.00 | 247.00 | 306.00 | 192.00 | 264.00 | 88.00 | 374.00 | 145.00 | 522.00 | 16.00 | 173.00 | 218.00 | 40.00 | -22.00 | -205.00 | -106.00 |
| Total income | 13,420.00 | 13,982.00 | 14,024.00 | 13,351.00 | 13,128.00 | 13,189.00 | 13,245.00 | 13,150.00 | 13,835.00 | 13,302.00 | 13,557.00 | 13,570.00 | 14,035.00 | 14,372.00 | 14,871.00 | 15,606.00 |
| Cost of materials consumed | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Purchases of stock-in-trade | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Changes in inventories | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Employee benefit expense | 6,895.00 | 7,055.00 | 7,192.00 | 7,168.00 | 7,302.00 | 7,409.00 | 7,249.00 | 7,332.00 | 7,505.00 | 7,425.00 | 7,362.00 | 7,499.00 | 7,629.00 | 7,564.00 | 7,787.00 | 7,877.00 |
| Finance costs | 79.00 | 113.00 | 93.00 | 120.00 | 98.00 | 116.00 | 58.00 | 72.00 | 89.00 | 76.00 | 85.00 | 78.00 | 77.00 | 94.00 | 89.00 | 111.00 |
| Depreciation and amortisation | 492.00 | 498.00 | 490.00 | 447.00 | 466.00 | 443.00 | 461.00 | 462.00 | 470.00 | 459.00 | 462.00 | 458.00 | 469.00 | 474.00 | 481.00 | 479.00 |
| Other expenses | 4,275.00 | 4,536.00 | 4,718.00 | 4,653.00 | 4,639.00 | 4,545.00 | 4,523.00 | 4,110.00 | 4,058.00 | 4,052.00 | 4,182.00 | 3,917.00 | 4,198.00 | 4,464.00 | 4,724.00 | 5,093.00 |
| Total expenses | 11,740.00 | 12,202.00 | 12,494.00 | 12,387.00 | 12,504.00 | 12,515.00 | 12,292.00 | 11,975.00 | 12,122.00 | 12,011.00 | 12,091.00 | 11,952.00 | 12,373.00 | 12,595.00 | 13,081.00 | 13,559.00 |
| Profit before exceptional items and tax | 1,679.00 | 1,780.00 | 1,530.00 | 963.00 | 624.00 | 674.00 | 953.00 | 1,175.00 | 1,713.00 | 1,291.00 | 1,465.00 | 1,618.00 | 1,662.00 | 1,777.00 | 1,791.00 | 2,046.00 |
| Exceptional items | -15.00 | -9.00 | -5.00 | 0.00 | -8.00 | 5.00 | 6.00 | 0.00 | 1.00 | 7.00 | -1.00 | 0.00 | -3.00 | -272.00 | -0.00 | 0.00 |
| Profit before tax | 1,664.00 | 1,771.00 | 1,525.00 | 963.00 | 615.00 | 679.00 | 959.00 | 1,175.00 | 1,713.00 | 1,297.00 | 1,464.00 | 1,618.00 | 1,659.00 | 1,504.00 | 1,791.00 | 2,046.00 |
| Current tax | 498.00 | 449.00 | 578.00 | 350.00 | 258.00 | 160.00 | 280.00 | 357.00 | 634.00 | 410.00 | 499.00 | 532.00 | 536.00 | 482.00 | 453.00 | 426.00 |
| Deferred tax | -134.00 | 37.00 | -178.00 | -82.00 | -148.00 | -5.00 | 15.00 | -43.00 | -178.00 | -101.00 | -177.00 | -42.00 | -78.00 | -96.00 | -19.00 | 130.00 |
| Tax expense | 365.00 | 486.00 | 400.00 | 268.00 | 110.00 | 155.00 | 295.00 | 313.00 | 456.00 | 309.00 | 322.00 | 489.00 | 458.00 | 386.00 | 434.00 | 556.00 |
| Profit for the period | 1,299.00 | 1,285.00 | 1,125.00 | 704.00 | 505.00 | 524.00 | 664.00 | 865.00 | 1,257.00 | 989.00 | 1,142.00 | 1,129.00 | 1,202.00 | 1,119.00 | 1,356.00 | 1,486.00 |
| Profit attributable to owners | 1,285.00 | 1,297.00 | 1,118.00 | 692.00 | 494.00 | 510.00 | 661.00 | 49.00 | — | — | 203.00 | 1,141.00 | 1,194.00 | 199.00 | 1,354.00 | 1,465.00 |
| Profit attributable to non-controlling interests | 14.00 | -11.00 | 7.00 | 11.00 | 11.00 | 13.00 | 3.00 | -0.00 | 7.00 | 1.00 | 3.00 | -12.00 | 7.00 | 5.00 | 3.00 | 21.00 |
| Other comprehensive income | -16.00 | 202.00 | 315.00 | 163.00 | -115.00 | 149.00 | -40.00 | 48.00 | 133.00 | -141.00 | 206.00 | 476.00 | -8.00 | 204.00 | 722.00 | 140.00 |
| Total comprehensive income | 1,283.00 | 1,488.00 | 1,440.00 | 867.00 | 390.00 | 673.00 | 624.00 | 913.00 | 1,390.00 | 847.00 | 1,348.00 | 1,604.00 | 1,194.00 | 1,322.00 | 2,078.00 | 1,626.00 |
| Earnings per share, basic | 14.58 | 14.70 | 12.67 | 7.84 | 5.59 | 5.77 | 7.48 | 9.62 | 14.12 | 11.10 | 13.17 | 12.87 | 13.48 | 12.66 | 15.27 | 16.53 |
| Earnings per share, diluted | 14.52 | 14.64 | 12.62 | 7.82 | 5.57 | 5.76 | 7.45 | 9.60 | 14.10 | 11.08 | 13.15 | 12.86 | 13.46 | 12.64 | 15.24 | 16.50 |
Annual results, as filed
| Line | 2019-03-31 | 2020-03-31 | 2021-03-31 | 2022-03-31 | 2023-03-31 | 2024-03-31 | 2025-03-31 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 34,742.00 | 36,868.00 | 37,855.00 | 44,646.00 | 53,290.00 | 51,995.00 | 52,988.00 | 56,815.00 |
| Other income | 534.00 | 1,192.00 | 787.00 | 1,112.00 | 965.00 | 917.00 | 855.00 | 32.00 |
| Total income | 35,276.00 | 38,060.00 | 38,642.00 | 45,758.00 | 54,255.00 | 52,912.00 | 53,844.00 | 56,847.00 |
| Cost of materials consumed | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Purchases of stock-in-trade | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Changes in inventories | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Employee benefit expense | 17,508.00 | 18,810.00 | 19,297.00 | 22,286.00 | 27,692.00 | 29,128.00 | 29,624.00 | 30,479.00 |
| Finance costs | 133.00 | 192.00 | 174.00 | 163.00 | 326.00 | 392.00 | 322.00 | 337.00 |
| Depreciation and amortisation | 1,129.00 | 1,446.00 | 1,458.00 | 1,520.00 | 1,957.00 | 1,817.00 | 1,853.00 | 1,882.00 |
| Other expenses | 10,897.00 | 12,549.00 | 11,762.00 | 14,340.00 | 17,807.00 | 18,361.00 | 16,401.00 | 17,302.00 |
| Total expenses | 29,668.00 | 32,997.00 | 32,690.00 | 38,309.00 | 47,781.00 | 49,698.00 | 48,199.00 | 50,000.00 |
| Profit before exceptional items and tax | 5,609.00 | 5,063.00 | 5,952.00 | 7,449.00 | 6,474.00 | 3,214.00 | 5,645.00 | 6,847.00 |
| Exceptional items | -66.00 | -6.00 | 1.00 | 3.00 | -29.00 | 10.00 | 9.00 | -274.00 |
| Profit before tax | 5,543.00 | 5,058.00 | 5,953.00 | 7,452.00 | 6,445.00 | 3,224.00 | 5,653.00 | 6,573.00 |
| Current tax | 1,379.00 | 1,238.00 | 1,812.00 | 1,742.00 | 1,951.00 | 1,048.00 | 1,900.00 | 2,002.00 |
| Deferred tax | -124.00 | -77.00 | -212.00 | 80.00 | -363.00 | -220.00 | -499.00 | -235.00 |
| Tax expense | 1,254.00 | 1,160.00 | 1,600.00 | 1,822.00 | 1,588.00 | 828.00 | 1,400.00 | 1,768.00 |
| Profit for the period | 4,289.00 | 3,897.00 | 4,353.00 | 5,630.00 | 4,857.00 | 2,397.00 | 4,253.00 | 4,806.00 |
| Profit attributable to owners | 4,298.00 | 4,033.00 | 4,428.00 | 5,566.00 | 4,831.00 | 2,358.00 | 241.00 | 4,811.00 |
| Profit attributable to non-controlling interests | -9.00 | -136.00 | -75.00 | 64.00 | 26.00 | 39.00 | 5.00 | -5.00 |
| Other comprehensive income | 243.00 | -106.00 | 424.00 | 231.00 | 62.00 | 157.00 | 246.00 | 1,394.00 |
| Total comprehensive income | 4,531.00 | 3,792.00 | 4,777.00 | 5,861.00 | 4,919.00 | 2,554.00 | 4,499.00 | 6,199.00 |
| Earnings per share, basic | 48.48 | 46.21 | 50.64 | 63.32 | 54.76 | 26.66 | 48.00 | 54.28 |
| Earnings per share, diluted | 47.72 | 45.85 | 50.19 | 62.81 | 54.54 | 26.58 | 47.91 | 54.19 |
Balance sheet, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Total assets | 45,659.00 | 46,153.00 | 43,491.00 | 43,424.00 | 42,827.00 | 44,494.00 | 45,828.00 | 49,369.00 |
| Non-current assets | 20,854.00 | 21,721.00 | 20,797.00 | 19,998.00 | 20,240.00 | 20,815.00 | 20,860.00 | 21,795.00 |
| Current assets | 24,805.00 | 24,433.00 | 22,694.00 | 23,425.00 | 22,587.00 | 23,679.00 | 24,968.00 | 27,575.00 |
| Property, plant and equipment | 2,566.00 | 2,862.00 | 2,712.00 | 2,558.00 | 2,442.00 | 2,380.00 | 2,467.00 | 2,426.00 |
| Capital work-in-progress | 252.00 | 84.00 | 124.00 | 101.00 | 11.00 | 21.00 | 23.00 | 27.00 |
| Goodwill | 7,597.00 | 7,666.00 | 7,581.00 | 7,511.00 | 7,649.00 | 7,699.00 | 8,032.00 | 8,456.00 |
| Other intangible assets | 3,457.00 | 3,232.00 | 2,951.00 | 2,803.00 | 2,644.00 | 2,349.00 | 2,058.00 | 1,970.00 |
| Inventories | 18.00 | 24.00 | 29.00 | 38.00 | 39.00 | 39.00 | 96.00 | 104.00 |
| Trade receivables | 12,408.00 | 12,882.00 | 12,058.00 | 11,401.00 | 11,992.00 | 11,547.00 | 12,694.00 | 13,358.00 |
| Cash and cash equivalents | 4,554.00 | 4,056.00 | 3,712.00 | 4,347.00 | 4,090.00 | 4,318.00 | 4,173.00 | 5,046.00 |
| Total equity and liabilities | 45,659.00 | 46,153.00 | 43,491.00 | 43,424.00 | 42,827.00 | 44,494.00 | 45,828.00 | 49,369.00 |
| Equity | 27,249.00 | 28,395.00 | 26,858.00 | 27,147.00 | 26,898.00 | 27,792.00 | 27,953.00 | 30,077.00 |
| Equity share capital | 440.00 | 440.00 | 441.00 | 441.00 | 442.00 | 442.00 | 443.00 | 443.00 |
| Other equity | 26,347.00 | 27,484.00 | 25,971.00 | 26,228.00 | 26,004.00 | 26,919.00 | 27,061.00 | 29,173.00 |
| Total liabilities | 18,411.00 | 17,759.00 | 16,633.00 | 16,277.00 | 15,929.00 | 16,703.00 | 17,876.00 | 19,292.00 |
| Non-current liabilities | 3,187.00 | 3,207.00 | 3,838.00 | 2,430.00 | 3,736.00 | 4,029.00 | 4,238.00 | 4,795.00 |
| Current liabilities | 15,224.00 | 14,551.00 | 12,795.00 | 13,847.00 | 12,192.00 | 12,674.00 | 13,637.00 | 14,498.00 |
| Borrowings, non-current | 139.00 | 129.00 | 128.00 | 102.00 | 815.00 | 1,147.00 | 1,371.00 | 1,589.00 |
| Borrowings, current | 1,542.00 | 1,449.00 | 1,423.00 | 1,428.00 | 1,220.00 | 878.00 | 719.00 | 597.00 |
| Trade payables | 4,226.00 | 4,385.00 | 4,253.00 | 4,120.00 | 3,786.00 | 4,411.00 | 4,396.00 | 5,040.00 |
Cash flow, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Net cash from operating activities | 3,171.00 | 5,572.00 | 3,030.00 | 6,376.00 | 2,453.00 | 5,786.00 | 3,169.00 | 6,172.00 |
| Net cash from investing activities | 541.00 | -278.00 | -102.00 | -1,314.00 | 827.00 | -23.00 | -67.00 | -409.00 |
| Net cash from financing activities | -2,955.00 | -5,078.00 | -3,263.00 | -4,767.00 | -3,548.00 | -5,799.00 | -3,297.00 | -5,130.00 |
| Purchase of property, plant and equipment | 430.00 | 1,015.00 | 419.00 | 791.00 | 247.00 | 594.00 | 342.00 | 696.00 |
| Net increase in cash | 766.00 | 267.00 | -344.00 | 291.00 | -258.00 | -29.00 | -145.00 | 728.00 |
| con:CFO.BEFORE_TAX | 4,064.00 | 7,707.00 | 3,563.00 | 7,658.00 | 3,649.00 | 7,741.00 | 3,705.00 | 7,848.00 |
| con:INTEREST_RECEIVED.OPERATING | 0.00 | -105.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INTEREST_PAID.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:DIVIDENDS_RECEIVED.OPERATING | 0.00 | -3.00 | 0.00 | 0.00 | -1.00 | -1.00 | 0.00 | 0.00 |
| con:TAX_PAID.OPERATING | 882.00 | 1,993.00 | 520.00 | 1,247.00 | 717.00 | 1,474.00 | 522.00 | 1,650.00 |
| con:CF_OTHER.OPERATING | -11.00 | -35.00 | -13.00 | -35.00 | -480.00 | -480.00 | -14.00 | -26.00 |
| con:INVESTMENTS_PURCHASED | 12,493.00 | 21,478.00 | 8,560.00 | 17,886.00 | 12,300.00 | 23,628.00 | 14,360.00 | 25,576.00 |
| con:INVESTMENTS_SOLD | 14,277.00 | 23,075.00 | 9,257.00 | 18,036.00 | 13,298.00 | 23,828.00 | 14,560.00 | 25,490.00 |
| con:PPE_DISPOSALS | 0.00 | 0.00 | 25.00 | 53.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.SUBSIDIARIES_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 14.00 |
| con:CF_INVESTING.SUBSIDIARIES_ACQUIRED | 920.00 | 1,067.00 | 559.00 | 749.00 | 131.00 | 162.00 | 91.00 | 90.00 |
| con:CF_INVESTING.JV_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Who owns it
The shareholding pattern filed with the exchange every quarter, as a series. Percentages are of total shares. Each figure names the filing it was read from and the date it was filed.
| Holder | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoter and promoter group | 35.18 | 35.16 | 35.13 | 35.11 | 35.09 | 35.05 | 35.03 | 35.01 | 35.01 | 35.00 | 0.35 | 0.35 | 0.35 | 0.35 |
| Domestic institutions | 25.85 | 26.96 | 27.13 | 29.02 | 29.52 | 30.76 | 31.00 | 30.74 | 32.12 | 32.13 | 0.35 | 0.38 | 0.37 | 0.37 |
| Mutual funds | — | — | — | — | — | — | — | — | — | 16.51 | 0.18 | 0.20 | 0.19 | 0.19 |
| Insurance companies | 11.37 | 12.55 | 13.04 | 13.09 | 13.74 | 13.98 | 13.76 | 13.06 | 13.06 | 13.59 | 0.15 | 0.15 | 0.15 | 0.15 |
| Foreign institutions | 26.87 | 25.69 | 26.22 | 24.58 | 24.15 | 23.28 | 23.66 | 24.20 | 22.95 | 23.28 | 0.21 | 0.18 | 0.19 | 0.19 |
| Government | — | — | — | — | — | — | — | — | — | 0.17 | 0.00 | 0.00 | 0.00 | 0.00 |
| Public | 64.82 | 64.84 | 64.87 | 64.89 | 64.91 | 64.95 | 64.97 | 64.99 | 64.99 | 65.00 | 0.65 | 0.65 | 0.65 | 0.65 |
| Non-institutional | 11.93 | 12.03 | 11.34 | 11.13 | 11.07 | 10.75 | 10.14 | 9.89 | 9.76 | 9.42 | 0.10 | 0.09 | 0.09 | 0.09 |
| Shares outstanding | 974147475 | 974699464 | 975504105 | 976164397 | 976758523 | 977882361 | 978349548 | 978787074 | 978993712 | 979207885 | 979562303 | 979721333 | 979841252 | 980057958 |
Related parties
Transactions with related parties as disclosed to the exchange for the period ending 2024-09-30, by counterparty, largest first. Amounts are as filed. Each row names the filing and the date it was filed.
| Counterparty | Relationship | Type | Amount in the period | Transactions |
|---|---|---|---|---|
| Tech Mahindra (Americas) Inc., | Whollyowned Subsidiary | Any other transaction, Interest received, Purchase o | 53,813,710,000.00 | 27 |
| Mahindra & Mahindra Limited | Promoter | Any other transaction, Dividend paid, Interest paid, | 8,210,260,000.00 | 52 |
| Tech Mahindra LLC | Whollyowned Subsidiary | Any other transaction, Purchase of goods or services | 6,325,940,000.00 | 7 |
| Tech Mahindra GMBH | Whollyowned Subsidiary | Any other transaction, Purchase of goods or services | 6,101,460,000.00 | 9 |
| Mahindra University | Significant Influence | Any other transaction, Sale of fixed assets | 5,409,200,000.00 | 9 |
| TML Benefit Trust | Promoter Group | Any other transaction, Dividend paid | 5,013,220,000.00 | 2 |
| Tech Mahindra IT Services NL B.V. | Whollyowned Subsidiary | Any other transaction, Purchase of goods or services | 3,176,260,000.00 | 8 |
| Tech Mahindra ICT Services (Malaysia) SDN. BHD. | Whollyowned Subsidiary | Any other transaction, Purchase of goods or services | 3,157,920,000.00 | 8 |
| Tech Mahindra Mexico Cloud Services, S.DE R.L. DE C.V | Stepdown Subsidiary | Any other transaction, Purchase of goods or services | 2,108,600,000.00 | 6 |
| Tech MahindraDe Mexico | Whollyowned Subsidiary | Any other transaction, Purchase of goods or services | 2,034,590,000.00 | 8 |
| Tech Mahindra France SAS | Whollyowned Subsidiary | Any other transaction, Purchase of goods or services | 1,626,590,000.00 | 8 |
| Comviva Technologies Limited | Whollyowned Subsidiary | Any other transaction, Dividend received, Purchase o | 1,522,640,000.00 | 14 |
| Anand Mahindra | Director | Any other transaction | 1,507,110,000.00 | 6 |
| vCustomer Philippines(Cebu), Inc., | Stepdown Subsidiary | Any other transaction, Purchase of goods or services | 1,494,510,000.00 | 4 |
| ORCHID CYBERTECH SERVICES, INC. | Stepdown Subsidiary | Any other transaction, Interest received, Purchase o | 1,477,030,000.00 | 3 |
What management said
Every earnings call we hold for this company, read in full. Prepared remarks are separated from the question-and-answer session and every paragraph names who said it and on which page. These are management’s own words, not filed figures.
| Date | Quarter | Who spoke | |
|---|---|---|---|
| 2026-07-22 | Q1FY27 | TECH MAHINDRA LIMITED | Read the call |
| 2026-01-20 | Q3FY26 | TECH MAHINDRA LIMITED | Read the call |
| 2025-10-17 | Q2FY26 | TECH MAHINDRA LIMITED | Read the call |
| 2025-07-21 | Q1FY26 | TECH MAHINDRA LIMITED | Read the call |
| 2025-01-21 | Q3FY25 | Read the call | |
| 2024-10-23 | Q2FY25 | Read the call | |
| 2024-07-30 | Q1FY25 | Read the call | |
| 2024-05-02 | Q4FY24 | Read the call | |
| 2024-01-29 | Q3FY24 | Read the call | |
| 2023-10-30 | Q2FY24 | TECH MAHINDRA LIMITED | Read the call |
| 2023-07-31 | Q1FY24 | AMERICAS (ENTERPRISE BUSINESS), AND HEAD OF GROWTH, MAHINDRA BUSINESS PROCESS SERVICES, OF | Read the call |
| 2023-05-05 | Q4FY23 | NETWORK SERVICES, OFFICER AND HEAD MARKETING | Read the call |
| 2023-02-04 | Q3FY23 | CORPORATE DEVELOPMENT, EXECUTIVE OFFICER, OF GROWTH, SERVICES | Read the call |
| 2022-11-07 | Q2FY23 | EXECUTIVE OFFICER | Read the call |
| 2022-07-28 | Q1FY23 | EXECUTIVE OFFICER, SERVICES | Read the call |
| 2022-05-16 | Q4FY22 | EXECUTIVE OFFICER, SERVICES | Read the call |
Some earlier announcements under this heading are covering letters only — no transcript was attached.
What they said about it, quarter by quarter
| Topic | Q2FY26 | Q3FY23 | Q3FY24 | Q3FY25 | Q3FY26 | Q4FY22 | Q4FY23 | Q4FY24 |
|---|---|---|---|---|---|---|---|---|
| Capex | — | — | — | — | — | — | — | — |
| Capital allocation | We have a long way still in terms of client acquisition and growth in this vertical. | We'd also articulated earlier that we are looking at non-strategic assets, where the margins are not favorable to us and shutting those businesses or … | So, we have I believe the only digital engineering capability in financial services, thanks to our CTC acquisition, we have a very high end buy side a… | — | — | So, the board has recommended the final dividend of Rs.30 per share in addition to Rs.15 per share, which was earlier given as interim dividend. | I would say we would continue to work on proactively providing solutions to our customers and we are right now focusing ourselves to be very close to … | In terms of dividends on a full year basis in FY24 and in line with our capital allocation policy, the Board has recommended a final dividend of ₹28 p… |
| Costs | — | — | — | — | This engagement includes optimization, simplification, cloud migration, and transformation to unify tech stack to deliver better experience, cost savi… | As we move forward and where we are from a quarter perspective, what has happened through the year is the salary cost and the retention based on the s… | — | Cost savings under Project Fortius is going to be the big driver for us to be able to get the savings. |
| Debt and cash | Our year-till-date free cash flow to PAT ratio stands at 120.8%. | Our free cash flow for Q3 was $31 million which is 20% of PAT. | And additionally, I would say with the service revenue, that has dropped through the year from where we started, we were at 1,668 last time to where w… | When you look at the free cash flow, we had a robust free cash flow of $199 million, which translates to 172% of PAT conversion. | On a YTD basis, our free cash flow to operational PAT is at 123%. | Free cash flow for the quarter was about $111, which is 56% of PAT, lower than the last quarter. | Free cash flow for the year was US $497 million which was 84% of PAT conversion. | In the go forward policy, we have an endeavour to distribute at least 85% of our free cash flow generated over a period of five years to shareholders … |
| Demand | The Aero and Industrial segments showed good traction, buoyed by demand for smart manufacturing, predictive maintenance and digital twins. | Earlier, we used to do it on a quarterly basis and the reason is very simple; on one end, when I look at my deal pipeline, when I look at my three mai… | So it'll be great if you could flush out the detailing in terms of where you are seeing some green shoots from a demand perspective, which other segme… | In terms of regions, we see pockets of demand across our prioritized markets of North America, Europe and APJ. | We continue to make inroads in engaging clients with tailored solution offerings, and we continue to see strong demand across transformation, experien… | As we look forward, I think we see a definite improvement opportunity for us available on doing more and more offshoring and short term, the demand be… | We also said that we will continue to drive pyramid rationalization and that's an investment we are going to make in FY24. We also said that we will t… | We have 360 degree partnerships with key ISVs, a very strong alliance driven pipeline and a number of recent wins. |
| Guidance | So, firstly, SG&A, should we expect more reductions going forward? | We had a conscious process and a project where we were trying to make sure that we rationalize or right-size our TL accounts, where the size of the bu… | I expect that when we come back to you in April and we are looking at extended earnings call in April where we will be able to give you a first sort o… | — | We expect BFSI growth to follow a more steady trajectory in the coming quarters as seasonal factors normalize. | Pankaj, as you know, I mean, obviously, we don't give guidance, but I can give you some trends that we're seeing from a market and our vertical perspe… | As I mentioned while I won't give a number or a guidance, but directionally that is true I think the headwinds that we've seen from a growth perspecti… | FY26 is the year to continue this journey, to complete the integration of our portfolio companies and by FY27 we expect to have reached the optimized … |
| Margin | This quarter has delivered a broad-based performance with good deal momentum, continued margin expansion, and steady contribution across our key focus… | Tech Mahindra Limited January 30, 2023 On the operating margin side, I know there is a lot of work to be done. | Rohit, how to think about margins -- have we bottomed out in our margin profile and from here on we should see sustained improvement even after taking… | 1,350 crores, which is an increase of 4% over the previous quarter and a resultant EBIT margin of 10.2%, an expansion of 60 basis points despite the c… | January 16, 2026 of FY27 while progressing towards a 15% EBIT margin for FY27. The strong quarter reinforces our confidence that we are on the right p… | My focus for FY'23 and my management team's focus is organic growth, continue to look in our EBITDA improvement programs, and continue our focus on wa… | The EBIT for the quarter was at US $186 million versus US $200 million in Q3. The EBIT margin of 11.2% versus 12% last quarter. | We report an Operating Margin of 7.4% and free cash generation of $129 million in Q4 FY24. For the full year FY24, we have generated a free cash of $6… |
| People | And the last question was in sales and support headcount. | Look, this quarter, we had good improvement on utilization and the subcon expenses going down. | And these operational parameters have been defined previously, they're pyramid, they're the onsite-offshore mix, subcons, utilizations, things like ov… | So, if you see the headcount from an IT perspective that's gone down through the year despite us adding freshers. | My second question was on the headcount. | Our decision to opt for new tax regime from FY'2022, which means the investment that we will do in the next three years, will be available for the uti… | I had a question with regards to the way our headcount essentially has been coming off through the course of last couple of quarters and on the IT, se… | On the employee pyramid, you talked about rationalization and also about fresher hiring. |
| Pricing | — | From go-forward perspective, as we mentioned a couple of quarters back most of the impact of that had happened at a rate faster than pricing increases… | Now, when you look at Tech Mahindra's pricing, how does that compare versus the industry? | We attribute this gain to efficient delivery, pricing excellence and cost optimization under project Fortius. | And so, we have continued to stay very disciplined from our pricing and from our profitability perspective. | What kind of a pricing lever is required to be able to absorb the incremental cost on hiring, etc. and manage stable margins in Fiscal Year 2022 on an… | So that's kind of what we'll drive and the pricing as a lever is going to be limited this year versus last year. | So, all of this, as we look forward from action on productivity, be it value based pricing, looking at sales productivity across the region's leadersh… |
| Revenue growth | The total deal wins for the quarter stood at $816 million, reflecting a growth of 57% on LTM- to-LTM basis versus last year. | On the Q3 performance, $ 1,668 million, I think it translates into quarter-on-quarter growth of 1.8% for enterprise and for CME it translates into 1.9… | I think this quarter the one-time revenue is more around certain product revenues which won’t be repeated, so that's what I highlighted from a top lin… | We are particularly focused on improving our growth capabilities and our revenue mix in order to meet our growth aspirations by FY27, and we are makin… | Manufacturing continued a strong trajectory this quarter, building on the strong momentum from the previous quarter with a year-on-year growth of 11.7… | I know Q4 results take us to almost a $6 billion company, constant currency growth of 5.4%, overall large deal win of billion plus, CME business growi… | Revenue stood at US $6,607 million with a constant currency growth of 13.7%. | Throughout this period, we will focus on accelerating revenue growth and improving margins. |
What they said they would do
Sentences in which management set an expectation. Each names the speaker and the page of the transcript it came from.
| Date | Quarter | Who | What they said |
|---|---|---|---|
| 2026-07-22 | Q1FY27 | TECH MAHINDRA LIMITED | So it will be a mix of both, but actions are all over to make sure that we are on track for the 15%. |