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Mphasis

MPHASIS NSE

Key Fundamentals

MidcapComputer Software & ConsultingInformation Technology
Market Cap
₹42,490 Cr
Volatility
Low Risk
P/E Ratio
22.45
EBITDA
₹3,309 Cr
Return on Equity
17.34%
Debt to Equity
0.24
Book Value
₹562.65
EPS
₹82.67
52W High
₹2,975
52W Low
₹2,013

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Strengths

1
  • Company has been maintaining a healthy dividend payout of 64.7%

Weaknesses

4
  • The company has delivered a poor sales growth of 10.3% over past five years.
  • Promoters have pledged 100% of their holding.
  • Debtor days have increased from 78.6 to 96.4 days.
  • Promoter holding has decreased over last 3 years: -25.0%

Growth Rate

Revenue Growth
11.88% higher than 3Y
Net Income Growth
9.43% higher than 3Y
Cash Flow Change
-34.22% higher than 3Y
ROE
-1.92% lower than 3Y
ROCE
-0.6% lower than 3Y
EBITDA Margin (Avg.)
1.95% lower than 3Y

AI Analysis — Bull vs Bear

6d ago
AI opinion · based on fundamentals
Risk medium

Mphasis Ltd has a market capitalisation of about ₹42,496 Cr and trades at a P/E of 22.5 and a P/B of 4, with a dividend yield of 2.76%. Return on equity has stayed in an 18-20% range over 3, 5 and 10 years, and TTM sales and profit growth of 14% and 11% are faster than the 3-year compounded rates of 5% each. The stock has returned -15% over 1 year and -7% CAGR over 5 years, and the promoters have pledged 100% of their holding, which has fallen 25% over the last 3 years.

Bull Case 8
  • Return on equity has been steady: 19% last year, 18% over 3 years, 20% over 5 years and 19% over 10 years. This points to consistent capital efficiency across business cycles.
  • Shareholder payouts are high. The company pays out 64.7% of profits as dividends, and the dividend yield is 2.76%.
  • Revenue growth has picked up. TTM sales growth of 14% is almost 3x the 3-year compounded sales growth of 5%.
  • Profit growth has also improved. TTM profit growth of 11% is more than double the 3-year compounded profit growth of 5%.
  • The long-term record is solid. Over 10 years, sales compounded at 10%, profit at 11% and the stock at 16% CAGR.
  • The P/E of 22.5 implies an earnings yield of about 4.4%. This follows a period in which the stock returned -15% over 1 year and -3% CAGR over 3 years.
  • The P/B of 4 is supported by a 19% ROE. That works out to a price-to-book-to-ROE ratio of roughly 0.21x.
  • A market capitalisation of about ₹42,496 Cr gives the company mid-to-large scale within Indian IT services.
Bear Case 8
  • Promoters have pledged 100% of their holding. This creates overhang risk if pledged shares are ever invoked or sold.
  • Debtor days rose from 78.6 to 96.4, an increase of about 23%. This suggests slower collections and higher working capital needs.
  • Medium-term growth has been weak. Both sales and profit compounded at only 5% over 3 years.
  • Promoter holding has fallen 25% over the last 3 years. This points to continued stake reduction by the controlling shareholder.
  • Sales growth of 10.3% over the past five years has been flagged as poor for an IT services company.
  • Shareholder returns have been negative on most timeframes: -15% over 1 year, -3% CAGR over 3 years and -7% CAGR over 5 years.
  • TTM profit growth of 11% trails TTM sales growth of 14%. This suggests pressure on margins or costs.
  • With 64.7% of profits paid out as dividends, less internal capital is left for acquisitions or reinvestment to speed up growth.

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

1d ago
Headwinds 1
  • Stock down 11.3% YTD Sep 2

    Mphasis closed at ₹2,509 on Sep 2, down 11.30% year-to-date. It has recovered about 6% over the past month and more than 13% over six months, but the stock is still below where it started the year.

Positives 2
  • TechnoPro AI deal in Japan Sep 2

    Mphasis signed a strategic partnership with TechnoPro Holdings, Japan's largest engineering staffing and IT solutions provider with about 30,000 engineers, to sell its Modernize and Optimize product lines built on the Mphasis Tria platform. The deal opens up the Japanese market, starting with financial services and manufacturing, and TechnoPro will also deploy Tria and NeoIP internally for AI-driven code generation and testing.

  • Quantum offerings tested with Copa Sep 22

    Mphasis and Copa Airlines hosted a global quantum computing challenge on passenger re-accommodation during schedule disruptions, with teams from IITs and the Universities of Calgary and Lethbridge using real Copa data. It follows Mphasis' recent launch of its QOptiDecision and qCryptsec quantum offerings, though no commercial deal value was disclosed.

Neutral 4
  • J.P. Morgan conference on Sep 21 Sep 16

    Mphasis will hold one-on-one and group sessions at the J.P. Morgan India Conference in Mumbai on September 21, 2026. The company said no unpublished price-sensitive information will be shared.

  • BofA virtual analyst meet Sep 9 Sep 3

    Mphasis will join a group investor session on September 9, 2026, as part of the BofA India IT virtual call series. No unpublished price-sensitive information will be shared.

  • TrackShift 2.0 innovation challenge Sep 15

    Mphasis Foundation and Plaksha University hosted the second TrackShift challenge, where over 180 students worked on motorsport engineering problems using AI and computer vision. This builds brand and talent goodwill but has no direct financial impact.

  • Bengaluru metro greening CSR Sep 11

    Mphasis joined SGBS Unnati Foundation and BMRCL to maintain metro corridors in Bengaluru as part of an urban sustainability CSR initiative. It has no material earnings impact.

TL;DR: The TechnoPro partnership is the biggest development this month, giving Mphasis a channel into Japan through a partner with about 30,000 engineers and showing that its Tria and NeoIP AI platforms are being commercialized. The quantum work with Copa adds credibility in an emerging area, but no revenue figures have been disclosed for either initiative. The stock has recovered about 6% in a month and more than 13% in six months, yet it is still down 11.3% YTD, which shows investors remain cautious about the broader IT sector. Management comments at the BofA and J.P. Morgan investor meets, and the deal-win numbers in the coming quarterly results, will show whether this recovery can last.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
3,252
3,276
3,338
3,412
3,422
3,536
3,561
3,710
3,732
3,902
4,003
4,243
4,384
Expenses
2,665
2,681
2,737
2,773
2,804
2,888
2,883
3,007
3,030
3,180
3,252
3,439
3,589
Operating Profit
587
596
601
639
619
648
678
703
703
722
750
804
795
OPM %
18%
18%
18%
19%
18%
18%
19%
19%
19%
18%
19%
19%
18%
Other Income
50
49
54
64
74
59
63
60
81
75
27
108
83
Interest
24
34
53
50
50
40
39
36
42
44
41
77
49
Depreciation
87
89
103
131
105
104
132
135
132
128
143
153
147
PBT
526
522
499
522
537
563
569
591
610
625
593
681
683
Tax %
25%
25%
25%
25%
25%
25%
25%
24%
28%
25%
25%
25%
28%
Net Profit
396
392
374
393
405
423
428
446
442
469
442
510
490
EPS in Rs
21.01
20.78
19.79
20.81
21.39
22.37
22.56
23.49
23.22
24.65
23.21
26.71
25.65
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
5,795
6,081
6,076
6,546
7,731
8,844
9,722
11,961
13,798
13,279
14,230
15,880
16,531
Expenses
4,925
5,218
5,108
5,483
6,407
7,193
7,919
9,844
11,365
10,857
11,583
12,901
13,461
Operating Profit
870
863
969
1,062
1,324
1,650
1,803
2,118
2,434
2,422
2,647
2,978
3,070
OPM %
15%
14%
16%
16%
17%
19%
19%
18%
18%
18%
19%
19%
19%
Other Income
194
172
223
149
177
178
133
160
162
218
255
290
293
Interest
28
24
14
13
17
81
63
74
97
161
166
204
211
Depreciation
98
121
79
71
76
232
242
291
325
410
476
555
570
PBT
938
890
1,099
1,128
1,407
1,515
1,631
1,913
2,173
2,068
2,260
2,509
2,582
Tax %
28%
29%
28%
26%
24%
22%
25%
25%
25%
25%
25%
26%
—
Net Profit
675
632
792
838
1,073
1,185
1,217
1,431
1,638
1,555
1,702
1,863
1,910
EPS in Rs
32.1
30.05
37.62
43.34
57.64
63.52
65.06
76.19
86.94
82.27
89.55
97.61
100
Div. Payout %
50%
67%
45%
46%
47%
55%
100%
60%
58%
67%
64%
64%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
210
210
210
193
186
187
187
188
188
189
190
191
Reserves
5,270
5,645
5,942
5,289
5,064
5,643
6,340
6,755
7,746
8,606
9,438
10,553
Borrowings
575
461
260
390
543
571
513
527
198
1,544
1,888
2,620
Other Liabilities
1,312
1,092
889
1,109
1,576
2,339
2,324
3,214
3,373
3,662
3,228
4,246
Total Liabilities
7,367
7,408
7,301
6,980
7,368
8,740
9,365
10,684
11,506
14,000
14,744
17,609
Fixed Assets
2,334
1,597
1,921
1,884
2,170
3,013
3,020
3,774
4,060
5,533
5,781
6,435
CWIP
20
56
1
2
3
17
3
11
32
61
0
0
Investments
1,443
2,122
2,396
1,782
1,329
1,326
1,846
1,813
1,753
3,090
2,208
1,769
Other Assets
3,569
3,633
2,983
3,312
3,866
4,384
4,496
5,087
5,662
5,316
6,754
9,404
Total Assets
7,367
7,408
7,301
6,980
7,368
8,740
9,365
10,684
11,506
14,000
14,744
17,609
Figures in ₹ Crores

Cash Flow

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
616
731
664
723
950
1,321
1,455
1,716
1,462
2,180
1,905
1,253
Investing
-380
-175
267
507
280
142
-810
-271
196
-2,496
32
-173
Financing
-186
-568
-710
-1,380
-1,342
-825
-861
-1,389
-1,440
77
-1,756
-943
Net Cash Flow
50
-12
221
-149
-112
638
-217
56
217
-239
181
137
Free Cash Flow
559
609
549
692
868
1,197
1,329
1,597
1,351
2,088
1,845
937
CFO/OP
103
112
99
94
98
104
100
98
84
114
99
66
Figures in ₹ Crores

Ratios

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
39
39
38
45
45
34
35
68
67
67
73
96
Cash Conversion Cycle
39
39
38
45
45
34
35
68
67
67
73
96
Working Capital Days
-5
20
29
21
19
6
15
13
19
-27
-22
-19
ROCE %
16%
15%
18%
19%
24%
26%
25%
27%
29%
24%
22%
22%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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Shareholding Pattern

Others1.56%DIIs45.31%Public3.08%FIIs19.50%Promot.30.54%As ofJun 2026
100.00% of promoter holding pledged as of Jun 2026

Documents

Frequently Asked Questions about Mphasis

What does Mphasis Ltd do?
Mphasis a global Information Technology (IT) solutions provider specializing in providing cloud and cognitive services, applies next-generation technology to help enterprises transform businesses globally.(Source : 202003 Annual Report Page No:36)
Where is Mphasis Ltd (MPHASIS) listed?
Mphasis Ltd trades as MPHASIS on the NSE and under code 526299 on the BSE.
Which sector does Mphasis Ltd belong to?
Mphasis Ltd is classified under the Information Technology sector, in the Computer Software & Consulting industry.
What is the market capitalisation of Mphasis Ltd?
Mphasis Ltd has a market capitalisation of ₹42,490 Cr, which places it in the Large Cap band.
What is the PE ratio of Mphasis Ltd?
Mphasis Ltd trades at a PE ratio of 22.45, on earnings per share of ₹82.67, against a book value of ₹562.65 per share.
What is the 52-week high and low of Mphasis Ltd?
Over the last 52 weeks Mphasis Ltd has traded between ₹2,013 and ₹2,975.
Does Mphasis Ltd pay dividends?
Mphasis Ltd has a dividend yield of 2.88%.
What is the Return on Equity (ROE) of Mphasis Ltd?
Mphasis Ltd reported a return on equity of 17.34%. Its debt-to-equity ratio is 0.24.

Company Information

Mphasis a global Information Technology (IT) solutions provider specializing in providing cloud and cognitive services, applies next-generation technology to help enterprises transform businesses globally.(Source : 202003 Annual Report Page No:36)

Website mphasis.com
CEO Mr. Nitin Omprakash Rakesh
Employees 30,157
Listed 2004-06-04
Face Value ₹ 10
Issued Size 19,05,57,873

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