As of 6 Nov 2026, Mastek trades at 10.8× trailing earnings, below the industry P/E of 17.7×, and the shares are 38% below their 52-week high. Sales and net profit grew 13% and 11% a year over 3 years; its ROCE of 17% is the lowest among the 7 largest Information Technology Services peers. Debt is 0.12× equity, and its dividend yield is 1.6%. It is a small-cap company with a market cap of ₹4,579 Cr, ranked 23rd of 126 Information Technology Services companies by market cap; the shares fell 31% over the past year.
- ₹1,485.50
- ₹1,509.70
- ₹1,470.00
- ₹1,472.80
- 1 L
Health check
- ReturnsBehind
−31.1% over a year, better than 0 of 7 peers.
- Price tagCheaper
P/E 10.8 vs industry 17.7.
- GrowthStrong
Sales +13.0%, profit +11.3% a year over 3 years.
- ProfitabilityWeak
ROCE 16.6% vs peer median 27.2%.
- Balance sheetSolid
Debt 0.12× equity, interest covered 18.1×, Piotroski 6 of 9.
- Red flags1 to check
38% below its 52-week high.
Small cap
Defensive
Key metrics
- Market cap
- ₹4,579 Cr
- Small cap
- P/E
- 10.8
- Industry 17.7
- Price to book
- 1.44
- Peers 5.20
- Dividend yield
- 1.63%
- ROE
- 14.5%
- Peers 22.9%
- ROCE
- 16.6%
- Peers 27.2%
- Debt to equity
- 0.12
- Debt ₹379 Cr
- EPS (TTM)
- ₹136.51
- Face value ₹5
- OPM (TTM)
- 15.4%
- Net margin 11.1%
- Sales growth
- +8.3%
- Latest quarter vs a year ago
- Profit growth
- +8.4%
- Latest quarter vs a year ago
- Price to sales
- 1.19
- EV/EBITDA 7.0
Strengths and risks
Strengths
- P/E of 10.8 against an industry P/E of 17.7.
- Positive operating cash flow in each of the last 4 years.
Risks to check
- 38% below its 52-week high.
About Mastek
Mastek Limited, together with its subsidiaries, engages in the provision of enterprise technology solutions in India, the United Kingdom, Europe, North America, Middle East region, South-east Asia, India, Singapore, Australia, and internationally. The company offers digital engineering and experience services, such as cloud migration, cloud engineering, low code, devsecops, quality engineering, MACH, platform engineering, digital experience, digital…
- Headquarters
- Mumbai
- Employees
- 4,132
- Sector
- Technology
- ISIN
- INE759A01021
- Website
- mastek.com
Price range
- Avg volume (3M)
- 2.2 L
- 1-year return
- minus 31.1%
- From 52-week high
- minus 37.7%
Analyst consensus
Next results expected around 19 Jan 2027
Peers · Information Technology Services
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| TCSTata Consultancy Services | 2,498.50 | plus 0.11% | 9,03,979 | 17.5 | 7.60 | 54.9% | 45.6% | 26.5% | 5.8% | 5.3% | 1.92% | minus 16.5% |
| INFYInfosys | 1,181.40 | plus 1.20% | 4,78,511 | 15.7 | 4.91 | 39.0% | 30.0% | 23.1% | 6.7% | 6.9% | 4.40% | minus 20.5% |
| HCLTECHHCL Technologies | 1,440.00 | plus 0.66% | 3,89,754 | 21.3 | 5.20 | 27.2% | 24.6% | 20.8% | 8.7% | 3.9% | 3.33% | minus 6.4% |
| WIPROWipro | 198.00 | minus 0.20% | 1,95,898 | 15.6 | 2.46 | 17.8% | 15.9% | 19.2% | 0.8% | 5.2% | 4.04% | minus 16.6% |
| TECHMTech Mahindra | 1,831.00 | plus 0.46% | 1,79,476 | 29.4 | 5.47 | 19.8% | 19.2% | 17.2% | 2.2% | −0.1% | 2.79% | plus 29.3% |
| LTMLTM | 4,338.00 | minus 1.25% | 1,28,620 | 24.6 | 4.97 | 25.4% | 21.0% | 17.9% | 8.4% | 4.4% | 1.80% | minus 21.8% |
| PERSISTENTPersistent Systems | 6,053.50 | minus 0.92% | 99,859 | 53.0 | 11.12 | 29.4% | 22.9% | 16.9% | 20.9% | 26.5% | 0.59% | plus 4.3% |
| MASTEKMastek | 1,476.70 | plus 0.26% | 4,579 | 10.8 | 1.44 | 16.6% | 14.5% | 15.4% | 13.0% | 11.3% | 1.63% | minus 31.1% |
| Median of 7 peers | – | 0.11% | 1,95,898 | 21.3 | 5.20 | 27.2% | 22.9% | 19.2% | 6.7% | 5.2% | 2.79% | −16.5% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 | Sep 26 |
|---|---|---|---|---|---|---|
| – | 940 | 906 | 938 | 985 | 1,019 | |
| – | 812 | 760 | 787 | 834 | 873 | |
| – | 128 | 146 | 151 | 151 | 146 | |
| – | 13.7% | 16.1% | 16.1% | 15.4% | 14.3% | |
| – | – | 20.9 | 23.9 | 12 | 11.7 | |
| – | 9.4 | 7.4 | 7.2 | 6.6 | 7.7 | |
| 18.4 | – | 17.9 | 18.5 | 18.3 | 19.4 | |
| – | – | – | −23.7 | – | 10.7 | |
| 121 | – | 141 | 125 | 138 | 141 | |
| 23.7% | – | 23.3% | 15.2% | 23.5% | 25.3% | |
| 92.1 | – | 108 | 106 | 106 | 106 | |
| 29.50 | – | 34.71 | 34.01 | 33.93 | 33.86 |
Profit & loss
- Sales CAGR 3Y
- +13.0%
- Profit CAGR 3Y
- +11.3%
- EPS CAGR 3Y
- +10.7%
- ROE
- 14.5%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 2,558 | 3,049 | 3,448 | 3,694 | |
| – | +19.2% | +13.1% | +7.2% | |
| 2,100 | 2,524 | 2,876 | 3,074 | |
| 459 | 526 | 572 | 621 | |
| 17.9% | 17.2% | 16.6% | 16.8% | |
| 32.8 | 9.8 | −117 | 55.7 | |
| 24.4 | 42.6 | 40.3 | 30.5 | |
| 67.4 | 89.9 | 75.1 | 72.6 | |
| 27.7 | −16.7 | 120 | −52 | |
| 427 | 386 | 459 | 521 | |
| 27.4% | 19.5% | 18.1% | 22.5% | |
| 293 | 300 | 376 | 404 | |
| – | +2.5% | +25.2% | +7.5% | |
| 95.53 | 97.25 | 120.65 | 129.50 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 15.3 | 15.4 | 15.5 | 15.5 | |
| 1,668 | 2,072 | 2,447 | 2,976 | |
| 404 | 519 | 583 | 438 | |
| 1,053 | 1,079 | 771 | 879 | |
| 3,141 | 3,685 | 3,816 | 4,309 | |
| 95.6 | 89.1 | 84.1 | 72.8 | |
| 6.7 | 0.9 | 1.9 | 1.6 | |
| 18.7 | 30.7 | 17.5 | 0.1 | |
| 264 | 459 | 622 | 938 | |
| 2,756 | 3,105 | 3,091 | 3,296 | |
| 3,141 | 3,685 | 3,816 | 4,309 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 108 | 420 | 396 | 542 | |
| −738 | −256 | −277 | −66.2 | |
| 92.6 | 1.8 | −56.9 | −300 | |
| −537 | 166 | 62.9 | 176 | |
| −31.5 | −31.5 | −20.1 | −28 | |
| 76.2 | 389 | 376 | 514 | |
| −57.4 | −58.1 | −58.6 | −74.3 |
Shareholding pattern
- Promoters35.75%
- Public64.25%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 35.75% | 64.25% | minus 0.01 | |
| 30 Jun 2026 | 35.76% | 64.24% | 0.00 | |
| 31 Mar 2026 | 35.76% | 64.24% | minus 0.01 | |
| 31 Dec 2025 | 35.77% | 64.23% | minus 0.02 | |
| 30 Sep 2025 | 35.79% | 64.21% | – |
Major shareholders
Filings & events
News
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