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Tata Teleservices (Maharashtra) Limited
(TTML)
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Rating:42Neutral
Price Target:
₹34.00
▼(-9.12% Downside)
Action:Reiterated
Date:09/13/26
The score is primarily held back by severe balance-sheet weakness (very high debt and deeply negative equity) despite improved free cash flow and narrowing losses. Technicals also weigh on the score as the stock is below key moving averages with negative MACD, even though it appears oversold. Valuation is an additional headwind due to the extremely high P/E and no dividend yield support.
Positive Factors
Improving Cash Generation
Positive operating and free cash flow provide an important internal funding source despite reported losses. The sharp FY2026 improvement suggests cash conversion is strengthening, which can support network investment and customer service while reducing reliance on external funding over the next several quarters.
Negative Factors
Severely Stressed Balance Sheet
Extremely high debt relative to assets and deeply negative equity indicate substantial accumulated financial strain. This structure limits flexibility to fund growth, leaves less capacity to absorb operating setbacks, and makes the company’s improving cash flow insufficient by itself to resolve balance-sheet risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving Cash Generation
Positive operating and free cash flow provide an important internal funding source despite reported losses. The sharp FY2026 improvement suggests cash conversion is strengthening, which can support network investment and customer service while reducing reliance on external funding over the next several quarters.
Read all positive factors
Tata Teleservices (Maharashtra) Limited (TTML) vs. iShares MSCI India ETF (INDA)
Market Cap
₹68.87B
Dividend YieldN/A
Average Volume (3M)289.70K
Price to Earnings (P/E)185.2
Beta (1Y)1.34
Revenue Growth-7.19%
EPS GrowthN/A
CountryIN
Employees396
SectorGeneral
Sector StrengthN/A
IndustryTelecommunications Services
Share Statistics
EPS (TTM)0.19
Shares Outstanding1,954,927,700
10 Day Avg. Volume186,649
30 Day Avg. Volume289,701
Financial Highlights & Ratios
PEG Ratio0.34
Price to Book (P/B)-0.31
Price to Sales (P/S)5.29
P/FCF Ratio11.53
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)N/A
Revenue Forecast (FY)N/A
Tata Teleservices (Maharashtra) Limited Business Overview & Revenue Model
Company Description
Tata Teleservices (Maharashtra) Limited delivers a broad spectrum of wireline telecommunication services, including voice, data, and managed solutions, to business clients across Maharashtra and Goa, India. These comprehensive connectivity and com...
How the Company Makes Money
TTML makes money mainly by charging customers—predominantly enterprises and small-to-medium businesses—for telecom and connectivity services on recurring contracts. Key revenue streams typically include: (1) subscription/recurring service fees for...
Tata Teleservices (Maharashtra) Limited Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
12
Very Negative
Cash Flow
62
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 11.78B | 11.60B | 13.08B | 11.92B | 11.06B | 10.94B |
| Gross Profit | 8.36B | 11.60B | 5.91B | 5.58B | 5.24B | 4.97B |
| EBITDA | 13.10B | 12.88B | 5.18B | 4.85B | 4.56B | 4.31B |
| Net Income | 375.30M | -2.15B | -12.75B | -12.28B | -11.45B | -12.15B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 13.41B | 13.04B | 13.07B | 12.11B | 13.65B |
| Cash, Cash Equivalents and Short-Term Investments | 385.50M | 387.60M | 1.00B | 668.40M | 806.70M | 1.18B |
| Total Debt | 0.00 | 208.69B | 204.16B | 200.47B | 198.69B | 197.56B |
| Total Liabilities | 199.83B | 213.24B | 208.74B | 205.60B | 202.65B | 201.97B |
| Stockholders Equity | -199.83B | -199.83B | -195.70B | -192.53B | -190.55B | -188.32B |
Cash Flow | ||||||
| Free Cash Flow | 2.73B | 5.32B | 4.06B | 4.77B | 4.47B | 4.25B |
| Operating Cash Flow | 3.47B | 6.68B | 5.05B | 5.87B | 5.58B | 5.32B |
| Investing Cash Flow | -799.60M | -905.80M | -1.09B | -649.80M | -662.00M | -1.32B |
| Financing Cash Flow | -3.05B | -6.04B | -3.86B | -5.03B | -4.94B | -4.27B |
Tata Teleservices (Maharashtra) Limited Technical Analysis
Negative
37.41
Price Trends
37.81
Negative
40.27
Negative
41.97
Negative
Market Momentum
-0.79
Negative
42.02
Neutral
32.70
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:TTML, the sentiment is Negative. The current price of 37.41 is above the 20-day moving average (MA) of 36.27, below the 50-day MA of 37.81, and below the 200-day MA of 41.97, indicating a bearish trend. The MACD of -0.79 indicates Negative momentum. The RSI at 42.02 is Neutral, neither overbought nor oversold. The STOCH value of 32.70 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:TTML.
Tata Teleservices (Maharashtra) Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | ₹11.08T | 36.95 | ― | 1.36% | 19.63% | -18.80% | |
60 Neutral | ₹83.17B | 24.05 | ― | 1.27% | 20.85% | 9.07% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | ₹1.46T | 4.72 | ― | 0.72% | 3.30% | ― | |
49 Neutral | ₹471.57B | 49.86 | ― | 1.06% | 8.12% | -33.60% | |
42 Neutral | ₹68.87B | 185.16 | ― | ― | -7.19% | ― | |
42 Neutral | ₹14.62B | -0.49 | ― | 1.09% | 68.07% | 14.04% |
* General Sector Average
IN:TTML
Tata Teleservices (Maharashtra) Limited
35.23
-19.76
-35.93%
IN:BHARTIARTL
Bharti Airtel Limited
1,776.00
-78.66
-4.24%
IN:IDEA
Vodafone Idea Ltd
13.52
5.38
66.09%
IN:MTNL
Mahanagar Telephone Nigam Limited
23.20
-19.86
-46.12%
IN:RAILTEL
RailTel Corp. of India Ltd.
259.15
-109.18
-29.64%
IN:TATACOMM
Tata Communications Limited
1,654.15
55.94
3.50%
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.