Provides IT services across two reporting segments. Digital and Application Services generated Rs 4,425.9 crore in FY26, 77.8 percent of segment revenue, with EBIT of Rs 761.6 crore. Cloud Infrastructure and Security contributed Rs 1,261.5 crore (22.2 percent of segment revenue) and Rs 260.9 crore in EBIT. The business runs on people: employee costs were 63.8 percent of revenue, with other operating opex at 19.4 percent and depreciation at 1.6 percent. The company employs 10,779 people across 17 countries. The largest customer vertical is Banking, Financial Services and Insurance at 48.8 percent of Q1FY27 revenue. The FY26 order book stood at $332 million, up 17.8 percent year-on-year, with 36.4 percent of wins classified as AI-native deals. US operations are consolidated through Zensar Technologies Inc. (around $326.96 million revenue), with two smaller US step-down subsidiaries (M3BI at $46.8 million and Bridgeview Life Sciences at $4.74 million) merged into it effective August 1, 2026. The balance sheet is net-cash at $317.5 million with zero debt, and the company is part of the RPG Group. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Digital and Application Services (78%), Cloud Infrastructure and Security (22%). People-heavy, asset-light IT services with near-zero debt and net-cash balance sheet
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 4,244 | 4,848 | 4,902 | 5,281 | 5,687 |
| EBITDA (ex other income) | 657 | 552 | 872 | 817 | 891 |
| margin % | 15.5 | 11.4 | 17.8 | 15.5 | 15.7 |
| Owners' profit | 416 | 328 | 665 | 650 | 775 |
| EPS, as reported (₹) | 18.43 | 14.47 | 29.36 | 28.65 | 34.12 |
| ROE % · ROCE % | 15.7 · 20.0 | 11.0 · 14.5 | 18.7 · 23.6 | 16.0 · 20.4 | 16.4 · 21.0 |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | 335 | 714 | 642 | 565 | 771 |
| Capex | (57) | (37) | (16) | (37) | (54) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,308 | 1,326 | 1,359 | 1,385 | 1,421 | 1,431 | 1,450 | 1,508 |
| Profit before tax | 208 | 210 | 230 | 241 | 240 | 265 | 276 | 246 |
| Net profit | 156 | 160 | 176 | 182 | 182 | 200 | 211 | 184 |
| EPS (₹) | 6.88 | 7.04 | 7.77 | 8.01 | 8.02 | 8.80 | 9.29 | 8.11 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Digital and Application Services | 4,426 | 77.8 |
| Cloud Infrastructure and Security | 1,262 | 22.2 |
| Total, before eliminations | 5,687 | 100.0 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| TATA CONSULTANCY SERV LT | 7,96,690 | 16.0 | 7.34 | 10.9 | 45.6 | 53.9 | 10.2 | 26.9 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 31 Aug 2026 · ICRA re-affirms Zensar Technologies credit rating at AA+ Stable and A1+ | credit debt | medium | — | — |
| 24 Aug 2026 · ESOP allotment of 25,691 shares by NRC committee | capital market events | low | — | — |
| 14 Aug 2026 · Merger of M3BI LLC with Zensar Technologies Inc. effective Sept 1, 2026 | strategic transactions | medium | — | — |
| 10 Aug 2026 · Zensar to attend Equirus and Emkay investor conferences on Aug 13-14 | board shareholder meetings | low | — | — |
| 10 Aug 2026 · Investor meeting schedule on Aug 13 and Aug 14 | board shareholder meetings | low | — | — |
| 8 Aug 2026 · Zensar gets ESG score of 74 under Leadership category from Crisil | credit debt | medium | — | — |
| 8 Aug 2026 · Zensar publishes newspaper ad on special window for share dematerialisation | compliance | minimal | — | — |
| 5 Aug 2026 · Zensar Tech submits Q1FY27 earnings call transcript | investor communications | medium | — | — |
| 5 Aug 2026 · Earnings Call Transcript Q1 FY27 Shared | investor communications | medium | — | — |
| 31 Jul 2026 · Zensar AGM Results: All 4 Resolutions Passed; INR 15 Total Dividend for FY26 | board shareholder meetings | 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 |
| 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) | 12.5 | 16.6 | 23 of 71 | 69% |
| P/B | 2.1 | 2.9 | 26 of 64 | 59% |
| ROCE | 20.7 | 14.2 | 23 of 78 | 71% |
| ROE | 16.4 | 11.5 | 21 of 67 | 70% |
| Debt / Equity | 0.0 | 0.0 | 4 of 68 | 64% |
| EBITDA margin | 18.4 | 18.4 | 33 of 65 | 50% |
| Revenue growth | 8.9 | 10.6 | 36 of 63 | 44% |
| Profit growth | 1.0 | 6.7 | 35 of 62 | 44% |
| Market cap | 9738 | 475 | 16 of 75 | 80% |
| 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 |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
