As of 6 Nov 2026, MphasiS trades at 24.1× trailing earnings, above the industry P/E of 17.7×, and the shares are 15% below their 52-week high. Sales and net profit grew 4.8% and 4.4% a year over 3 years, with ROCE of 23% and ROE of 20%. Debt is 0.30× equity, and its dividend yield is 2.5%. It is a mid-cap company with a market cap of ₹48,099 Cr, ranked 9th of 126 Information Technology Services companies by market cap; the shares fell 9.3% over the past year.
- ₹2,625.20
- ₹2,711.00
- ₹2,520.00
- ₹2,510.00
- 44 L
Health check
- ReturnsIn line
−9.3% over a year, better than 4 of 7 peers.
- Price tagPricier
P/E 24.1 vs industry 17.7.
- GrowthSlow
Sales +4.8%, profit +4.4% a year over 3 years.
- ProfitabilityAverage
ROCE 23.0% vs peer median 27.2%.
- Balance sheetStretched
Debt 0.30× equity, interest covered 13.3×, Piotroski 2 of 9.
- Red flags1 to check
Promoter stake down from 40.1% to 30.5%.
Mid cap
Defensive
Key metrics
- Market cap
- ₹48,099 Cr
- Mid cap
- P/E
- 24.1
- Industry 17.7
- Price to book
- 4.46
- Peers 5.20
- Dividend yield
- 2.46%
- ROE
- 19.6%
- Peers 22.9%
- ROCE
- 23.0%
- Peers 27.2%
- Debt to equity
- 0.30
- Debt ₹3,194 Cr
- EPS (TTM)
- ₹104.76
- Face value ₹10
- OPM (TTM)
- 18.7%
- Net margin 11.6%
- Sales growth
- +17.5%
- Latest quarter vs a year ago
- Profit growth
- +10.8%
- Latest quarter vs a year ago
- Price to sales
- 2.79
- EV/EBITDA 16.7
Strengths and risks
Strengths
- Return on equity of 19.6%.
- Return on capital employed of 23.0%.
- Dividend yield of 2.46%.
- Quarterly sales up 17.5% on a year ago.
- Positive operating cash flow in each of the last 4 years.
Risks to check
- Promoter stake down from 40.1% to 30.5%.
About MphasiS
Mphasis Limited, together with its subsidiaries, operates as an information technology solutions provider that specializes in cloud and cognitive services in the United States, India, Europe, the Middle East, Africa, and internationally. The company operates through Banking and Financial Services; Logistics and Transportation; Technology Media and Telecom; Insurance; and Others segments. The company offers application, blockchain, business process,…
- Headquarters
- Bengaluru
- Employees
- 23,452
- Sector
- Technology
- ISIN
- INE356A01018
- Website
- mphasis.com
Price range
- Avg volume (3M)
- 5.9 L
- 1-year return
- minus 9.3%
- From 52-week high
- minus 15.3%
Analyst consensus
Next results expected around 28 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% |
| MPHASISMphasiS | 2,520.00 | plus 0.40% | 48,099 | 24.1 | 4.46 | 23.0% | 17.7% | 18.7% | 4.8% | 4.4% | 2.46% | minus 9.3% |
| 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 | Mar 25 | Jun 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 3,710 | 3,732 | 4,003 | 4,243 | 4,384 | |
| – | – | – | +14.4% | +17.5% | |
| 3,007 | 3,030 | 3,251 | 3,437 | 3,589 | |
| 703 | 703 | 752 | 805 | 795 | |
| 18.9% | 18.8% | 18.8% | 19.0% | 18.1% | |
| 60 | 80.9 | 60.9 | 106 | 83.2 | |
| 36.1 | 41.8 | 41.1 | 77.3 | 48.5 | |
| 135 | 132 | 143 | 153 | 147 | |
| – | – | −35.5 | – | – | |
| 591 | 610 | 593 | 681 | 683 | |
| 24.5% | 27.6% | 25.4% | 25.2% | 28.3% | |
| 446 | 442 | 442 | 510 | 490 | |
| – | – | – | +14.1% | +10.8% | |
| 23.41 | 23.14 | 23.13 | 26.68 | 25.61 |
Profit & loss
- Sales CAGR 3Y
- +4.8%
- Profit CAGR 3Y
- +4.4%
- EPS CAGR 3Y
- +4.1%
- ROE
- 19.6%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 13,798 | 13,279 | 14,230 | 15,880 | |
| – | minus 3.8% | +7.2% | +11.6% | |
| 11,365 | 11,020 | 11,583 | 12,896 | |
| 2,434 | 2,259 | 2,647 | 2,983 | |
| 17.6% | 17.0% | 18.6% | 18.8% | |
| 86.3 | 72.6 | 100 | 226 | |
| 97.3 | 161 | 166 | 204 | |
| 325 | 410 | 476 | 555 | |
| 75.3 | 308 | 155 | 59.2 | |
| 2,173 | 2,068 | 2,260 | 2,509 | |
| 24.6% | 24.8% | 24.7% | 25.8% | |
| 1,638 | 1,555 | 1,702 | 1,863 | |
| – | minus 5.1% | +9.5% | +9.4% | |
| 86.37 | 81.83 | 89.36 | 97.54 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 188 | 189 | 190 | 191 | |
| 7,746 | 8,606 | 9,438 | 10,553 | |
| 1,053 | 2,389 | 1,888 | 2,620 | |
| 2,622 | 2,947 | 3,390 | 4,419 | |
| 11,609 | 14,130 | 14,907 | 17,782 | |
| 1,046 | 1,001 | 888 | 972 | |
| 74.7 | 79.3 | 66.1 | 80.8 | |
| 385 | 497 | 519 | 544 | |
| 2,422 | 3,410 | 3,407 | 3,172 | |
| 7,682 | 9,142 | 10,027 | 13,012 | |
| 11,609 | 14,130 | 14,907 | 17,782 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 1,462 | 2,180 | 1,905 | 1,253 | |
| 182 | −2,482 | 44.1 | −211 | |
| −1,440 | 77.1 | −1,756 | −943 | |
| 204 | −225 | 194 | 99.4 | |
| −113 | −93.7 | −61.8 | −319 | |
| 1,349 | 2,086 | 1,843 | 935 | |
| −865 | −943 | −1,040 | −1,084 |
Shareholding pattern
- Promoters30.53%
- Public69.47%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 30.53% | 69.47% | minus 0.01 | |
| 30 Jun 2026 | 30.54% | 69.46% | minus 0.01 | |
| 31 Mar 2026 | 30.55% | 69.45% | minus 0.04 | |
| 31 Dec 2025 | 30.59% | 69.40% | minus 9.51 | |
| 30 Sep 2025 | 40.10% | 59.90% | – |
Major shareholders
Filings & events
News
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