Provides IT and consulting services to enterprise clients across six industry verticals. Banking and Financial Services is the largest at ₹8,378.605 crore (52.8% of segment revenue), followed by Technology Media and Telecom at ₹2,869.639 crore (18.1%) and Insurance at ₹2,344.381 crore (14.8%). Logistics and Transportation contributes 5.5% at ₹871.876 crore, with 'Others' at 9.7% and a hedge allocation of -0.8%. An AI-led go-to-market is built around the NeoIP and Tria platforms, and AI-led deals grew from 12% to 70% of the pipeline. Revenue is delivered almost entirely direct to clients rather than through intermediaries. Employee compensation is the dominant cost at 56.2% of FY26 revenue, alongside other operating expenses at 25.1%, depreciation at 3.5% and capex at 2.0%; materials cost is essentially nil. FY27 guidance points to high single-digit to low double-digit constant currency growth and EBIT margin within 14.75%-15.75%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Banking and Financial Services (53%), Technology Media and Telecom (18%), Insurance (15%), Others (10%), Logistics and Transportation (6%), Unallocated - hedge ((1)%). People-heavy, asset-light IT services business with an AI-led strategy
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 11,961 | 13,798 | 13,279 | 14,230 | 15,880 |
| EBITDA (ex other income) | 2,118 | 2,434 | 2,422 | 2,647 | 2,943 |
| margin % | 17.7 | 17.6 | 18.2 | 18.6 | 18.5 |
| Owners' profit | 1,431 | 1,638 | 1,555 | 1,702 | 1,863 |
| EPS, as reported (₹) | 76.38 | 87.05 | 82.42 | 89.87 | 97.82 |
| ROE % · ROCE % | 20.6 · 25.3 | 20.6 · 25.8 | 17.7 · 22.5 | 17.7 · 23.2 | 17.3 · 23.0 |
| Debt / equity (x) | 0.08 | 0.03 | 0.18 | 0.12 | 0.17 |
| Cash from operations | 1,716 | 1,462 | 2,180 | 1,905 | 1,253 |
| Capex | (120) | (113) | (94) | (62) | (319) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 3,536 | 3,561 | 3,710 | 3,732 | 3,902 | 4,003 | 4,243 | 4,384 |
| Profit before tax | 563 | 569 | 591 | 610 | 625 | 593 | 681 | 683 |
| Net profit | 423 | 428 | 446 | 442 | 469 | 442 | 510 | 490 |
| EPS (₹) | 22.38 | 22.58 | 23.51 | 23.22 | 24.65 | 23.22 | 26.73 | 25.65 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Banking and Financial Services | 8,379 | 52.8 |
| Logistics and Transportation | 872 | 5.5 |
| Technology Media and Telecom | 2,870 | 18.1 |
| Insurance | 2,344 | 14.8 |
| Others | 1,546 | 9.7 |
| Total, before eliminations | 16,010 | 100.0 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 11 Sept 2026 · Mphasis partners with SGBS Unnati Foundation for greener Bengaluru | strategic transactions | low | — | — |
| 7 Sept 2026 · Mphasis cancels 5.07 lakh ESOPs and RSUs, grants fresh 1.24 lakh | general | low | — | — |
| 7 Sept 2026 · Allotment of 7,800 shares on ESOP exercise under ESOP 2016 | capital market events | low | — | — |
| 3 Sept 2026 · Mphasis to attend BofA India IT virtual call series on Sept 9 | board shareholder meetings | low | — | — |
| 3 Sept 2026 · Mphasis gets ESG rating of 75 from NSE Sustainability | business updates | medium | — | — |
| 2 Sept 2026 · Mphasis partners with TechnoPro for AI-led transformation in Japan | strategic transactions | high | — | — |
| 21 Aug 2026 · Mphasis grants 415,060 stock options and 92,400 RSUs to employees | general | low | — | — |
| 21 Aug 2026 · Allotment of 700 equity shares under RSU Plan 2021 | capital market events | low | — | — |
| 19 Aug 2026 · Mphasis submits newspaper publication copies to stock exchanges | compliance | minimal | — | — |
| 14 Aug 2026 · Mphasis ESG score falls to 72.6 from 74.5, retains Grade B | credit debt | medium | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| TATA CONSULTANCY SERV LT |
| 7,96,690 |
| 16.0 |
| 7.34 |
| 10.9 |
| 45.6 |
| 53.9 |
| 10.2 |
| 26.9 |
| INFOSYS LIMITED | 4,20,891 | 14.0 | 4.51 | 8.8 | 31.6 | 38.6 | 12.2 | 25.7 |
| HCL TECHNOLOGIES LTD | 3,27,456 | 18.7 | 4.35 | 11.7 | 22.1 | 26.2 | 11.5 | 20.9 |
| WIPRO LTD | 1,65,785 | 13.3 | 1.88 | 7.9 | 15.0 | 17.1 | 8.4 | 22.9 |
| TECH MAHINDRA LIMITED | 1,51,018 | 26.6 | 5.02 | 16.9 | 16.0 | 18.8 | 8.5 | 16.8 |
| LTM LIMITED | 1,27,635 | 24.4 | 5.29 | 15.4 | 20.7 | 24.8 | 27.9 | 20.0 |
| PERSISTENT SYSTEMS LTD | 87,015 | 44.8 | 11.10 | 29.8 | 23.8 | 28.5 | 28.6 | 17.8 |
| COFORGE LIMITED | 81,708 | 37.5 | 8.44 | 29.1 | 18.0 | 17.2 | 28.6 | 18.6 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 22.9 | 16.6 | 45 of 71 | 37% |
| P/B | 4.1 | 2.9 | 39 of 64 | 40% |
| ROCE | 21.3 | 14.2 | 21 of 78 | 74% |
| ROE | 17.3 | 11.5 | 18 of 67 | 74% |
| Debt / Equity | 0.2 | 0.0 | 48 of 68 | 30% |
| EBITDA margin | 20.0 | 18.4 | 26 of 65 | 61% |
| Revenue growth | 17.5 | 10.6 | 23 of 63 | 65% |
| Profit growth | 10.8 | 6.7 | 29 of 62 | 54% |
| Market cap | 43807 | 475 | 9 of 75 | 89% |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
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