Mphasis Ltd

NSE: MPHASIS BSE: 526299IT / Software

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)

₹2,148

52W: ₹2013 — ₹3037

PE 28.7 · Book ₹339 · +534% vs book

Market Cap₹40,987 Cr

Stock P/E28.7Price to Earnings

ROCE29.2%Return on Capital

ROE22.4%Return on Equity

Div. Yield2.66%Face Value ₹10

Strengths

+Company is almost debt free.
+Company has a good return on equity (ROE) track record: 3 Years ROE 24.7%
+Company has been maintaining a healthy dividend payout of 75.6%

Weaknesses

−The company has delivered a poor sales growth of 11.2% over past five years.
−Debtor days have increased from 81.8 to 103 days.
−Promoter holding has decreased over last 3 years: -25.1%
−Working capital days have increased from 57.5 days to 93.6 days

Shareholding Pattern

Promoters30.55%

FIIs19.51%

DIIs45.65%

Public4.28%

Category	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Promoters	40.35%	40.32%▼0.0	40.23%▼0.1	40.14%▼0.1	40.1%▼0.0	40.1%	30.59%▼9.5	30.55%▼0.0
FIIs	18.32%	18.25%▼0.1	20.78%▲2.5	20.61%▼0.2	18.99%▼1.6	18.52%▼0.5	19.79%▲1.3	19.51%▼0.3
DIIs	35.84%	36.87%▲1.0	34.62%▼2.3	34.91%▲0.3	36.51%▲1.6	37.08%▲0.6	45.26%▲8.2	45.65%▲0.4
Public	5.49%	4.54%▼1.0	4.38%▼0.2	4.34%▼0.0	4.4%▲0.1	4.31%▼0.1	4.36%▲0.1	4.28%▼0.1

Financial Statements

Metric	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Sales	2,223	2,255	2,318	2,355	2,350	2,248	2,237	2,367	2,409	2,454
Expenses	1,648	1,784	1,756	1,828	1,812	1,779	1,834	1,836	1,898	1,932
Operating Profit	575	471	562	527	538	469	403	531	511	522
OPM %	26%	21%	24%	22%	23%	21%	18%	22%	21%	21%
Net Profit	402	298	415	372	376	369	298	393	339	372
EPS ₹	21.28	15.78	21.93	19.67	19.85	19.42	15.67	20.66	17.8	19.49

AI Insights

Revenue Trend

Mar 2026 revenue at ₹9,467Cr, up 2.1% YoY. OPM at 21%.

Debt Position

Borrowings at ₹584Cr. Debt-to-equity ratio: 0.09x. Healthy balance sheet.

Institutional Flow

DIIs: 45.65% (+24.60pp change). FIIs: 19.51% (+2.32pp change). Promoters hold 30.55%.

Margin & Efficiency

ROCE improving from 18% (Mar 2015) to 29% (Mar 2026). Working capital days: 94.

Valuation

PE 28.7x with 29.2% ROCE. Price is 534% above book value of ₹339. Dividend yield: 2.66%.