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Mastek Limited
(MASTEK)
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Rating:77Outperform
Price Target:
₹1,826.00
▲(7.90% Upside)
Action:Reiterated
Date:08/29/26
The score is driven primarily by solid financial performance: strong revenue growth, conservative leverage, and improved recent cash generation, tempered by margin compression and some historical cash-flow volatility. Technicals are moderately positive (price above major moving averages) but momentum is mixed due to a negative MACD. Valuation is supportive with a reasonable P/E and a modest dividend yield.
Positive Factors
Consistent revenue growth
Consistent multi-year revenue expansion indicates sustained demand for Mastek’s technology services and digital engineering offerings. The particularly strong FY2026 increase could support scale benefits, reinforce client relationships, and provide a durable base for continued investment across cloud, data, and application services.
Negative Factors
Margin compression
Falling gross and EBITDA margins can limit the earnings benefit of continued revenue growth and indicate greater execution or price-cost pressure. If this trend persists, Mastek may need stronger productivity and delivery discipline to protect profitability and maintain attractive cash generation.
Read all positive and negative factors
Positive Factors
Negative Factors
Consistent revenue growth
Consistent multi-year revenue expansion indicates sustained demand for Mastek’s technology services and digital engineering offerings. The particularly strong FY2026 increase could support scale benefits, reinforce client relationships, and provide a durable base for continued investment across cloud, data, and application services.
Read all positive factors
Mastek Limited (MASTEK) vs. iShares MSCI India ETF (INDA)
Market Cap
₹49.88B
Dividend Yield1.48%
Average Volume (3M)14.31K
Price to Earnings (P/E)12.1
Beta (1Y)1.29
Revenue Growth6.64%
EPS Growth5.07%
CountryIN
Employees4,132
SectorGeneral
Sector StrengthN/A
IndustryInformation Technology Services
Share Statistics
EPS (TTM)130.45
Shares Outstanding31,006,376
10 Day Avg. Volume33,229
30 Day Avg. Volume14,307
Financial Highlights & Ratios
PEG Ratio1.45
Price to Book (P/B)1.39
Price to Sales (P/S)1.12
P/FCF Ratio8.26
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)146.32
Revenue Forecast (FY)₹40.77B
Mastek Limited Business Overview & Revenue Model
Company Description
Mastek Limited, along with its subsidiaries, offers comprehensive enterprise technology solutions across numerous international markets, including India, the United Kingdom, Europe, the United States, and the Middle East. The company's diverse ser...
How the Company Makes Money
Mastek primarily makes money by providing IT services to clients under commercial contracts, generating revenue through a combination of (1) time-and-materials billing, where clients pay for consulting and engineering effort based on billable hour...
Mastek Limited Financial Statement Overview
Summary
Income Statement
76
Positive
Balance Sheet
83
Very Positive
Cash Flow
78
Positive
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 36.99B | 34.55B | 30.55B | 25.63B | 21.84B |
| Gross Profit | 17.26B | 7.42B | 6.86B | 5.85B | 5.94B |
| EBITDA | 5.86B | 5.49B | 5.19B | 5.19B | 4.98B |
| Net Income | 4.04B | 3.76B | 3.00B | 2.93B | 2.95B |
Balance Sheet | |||||
| Total Assets | 43.09B | 38.63B | 36.85B | 31.41B | 24.88B |
| Cash, Cash Equivalents and Short-Term Investments | 9.39B | 6.22B | 4.59B | 2.64B | 7.82B |
| Total Debt | 4.38B | 5.83B | 5.19B | 4.03B | 2.03B |
| Total Liabilities | 13.17B | 14.01B | 15.98B | 13.66B | 12.66B |
| Stockholders Equity | 29.92B | 24.62B | 20.87B | 16.83B | 10.71B |
Cash Flow | |||||
| Free Cash Flow | 5.03B | 3.75B | 3.89B | 755.70M | 2.37B |
| Operating Cash Flow | 5.31B | 3.95B | 4.20B | 1.08B | 2.73B |
| Investing Cash Flow | -861.30M | -2.75B | -2.56B | -7.37B | -201.50M |
| Financing Cash Flow | -2.70B | -568.50M | 18.30M | 925.70M | -1.28B |
Mastek Limited Technical Analysis
Negative
1692.25
Price Trends
1733.45
Negative
1680.34
Negative
1773.37
Negative
Market Momentum
-21.69
Positive
40.51
Neutral
7.21
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MASTEK, the sentiment is Negative. The current price of 1692.25 is below the 20-day moving average (MA) of 1714.65, below the 50-day MA of 1733.45, and below the 200-day MA of 1773.37, indicating a bearish trend. The MACD of -21.69 indicates Positive momentum. The RSI at 40.51 is Neutral, neither overbought nor oversold. The STOCH value of 7.21 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:MASTEK.
Mastek Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | ₹49.88B | 12.06 | ― | 1.48% | 6.64% | 5.07% | |
75 Outperform | ₹1.29T | 26.78 | ― | 2.51% | 13.87% | 10.72% | |
75 Outperform | ₹867.63B | 44.88 | ― | 0.32% | 25.39% | 25.32% | |
73 Outperform | ₹816.30B | 37.49 | ― | 0.65% | 34.67% | 65.26% | |
70 Neutral | ₹437.11B | 22.89 | ― | 2.70% | 13.69% | 9.34% | |
67 Neutral | ₹50.63B | 22.41 | ― | 1.93% | 11.50% | 16.69% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
IN:MASTEK
Mastek Limited
1,626.55
-798.06
-32.91%
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5.38%
IN:HAPPSTMNDS
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332.40
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4,301.15
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-17.94%
IN:MPHASIS
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2,294.10
-532.17
-18.83%
IN:PERSISTENT
Persistent Systems Limited
5,537.45
169.03
3.15%
Mastek Limited Corporate Events
Mastek Nets Rs 60 Crore From Sale of Chennai Commercial Asset
Aug 17, 2026
Mastek Limited has completed the sale of a commercial building with a built-up area of about 157,233 square feet on leased land measuring 15.50 acres at Mahindra World City SEZ in Chengalpattu, Chennai. The sale forms part of an asset-level transa...
Mastek Seals Platinum Partnership with Innovaccer to Drive AI-Led Healthcare Transformation
Aug 3, 2026
Mastek Inc., a wholly owned step-down subsidiary of Mastek Limited, has entered a strategic Platinum Partnership with Innovaccer, whose Gravity Healthcare Intelligence Platform unifies fragmented clinical, claims and operational data into a single...
Mastek Releases Q1FY27 Unaudited Results and Investor Presentation
Jul 21, 2026
Mastek Limited has released a press note and investor presentation detailing its unaudited financial results for the quarter ended June 30, 2026, reinforcing its communication cadence with the market. The material has been shared with both BSE and...
Mastek Releases Investor Presentation on Q1 FY27 Unaudited Results
Jul 21, 2026
Mastek Limited has notified stock exchanges that it has released a press note and investor presentation covering its unaudited financial results for the quarter ended June 30, 2026. The materials, prepared for investors and analysts, are being dis...
Mastek Recognised for Decades of Digital Contributions to the United Kingdom
Jul 3, 2026
Mastek Limited has been featured in the second volume of the landmark publication “100 Years in Monarchy and Democracy,” which honours organisations that have significantly contributed to the United Kingdom over the past century. The r...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.