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Swing Capital

Persistent Systems Ltd

NSE: PERSISTENT BSE: 533179IT / Software

Persistent Systems provides software engineering and strategy services to help companies implement and modernize their businesses. It has its own software and frameworks with pre-built integration and acceleration [1]. It also has partnership with providers such as Salesforce and AWS [2].

₹4,958
52W: ₹4449 — ₹6599
PE 46.1 · Book ₹425 · +1067% vs book
Market Cap₹78,211 Cr
Stock P/E46.1Price to Earnings
ROCE35.6%Return on Capital
ROE26.8%Return on Equity
Div. Yield0.73%Face Value ₹5

Strengths

  • +Company is almost debt free.
  • +Company has delivered good profit growth of 28.8% CAGR over last 5 years
  • +Company has been maintaining a healthy dividend payout of 42.2%
  • +Company's median sales growth is 21.4% of last 10 years

Weaknesses

  • −Stock is trading at 11.3 times its book value

Shareholding Pattern

Promoters30.29%
FIIs22.11%
DIIs30.47%
Public16.14%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters31.02%30.66%▼0.430.66%30.66%30.56%▼0.130.56%30.29%▼0.330.29%
FIIs22.55%23.34%▲0.824.75%▲1.424.36%▼0.424.19%▼0.221.24%▼3.022.79%▲1.622.11%▼0.7
DIIs28.23%27.37%▼0.926.26%▼1.126.85%▲0.627.77%▲0.930.6%▲2.829.8%▼0.830.47%▲0.7
Public17.51%16.96%▼0.617.22%▲0.317.28%▲0.116.88%▼0.417.14%▲0.316.21%▼0.916.14%▼0.1

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales1,6691,6312,6912,8473,0023,1883,2583,4933,7183,958
Expenses1,3151,3642,3712,4342,5252,7822,7352,8323,0343,361
Operating Profit354267320413476405523661685598
OPM %21%16%12%15%16%13%16%19%18%15%
Net Profit260184248286326281374459388420
EPS ₹16.8811.9416.0918.4921.0718.1723.9129.3524.5926.65

AI Insights

Revenue Trend

Mar 2026 revenue at ₹14,428Cr, up 23% YoY. OPM at 17%.

Debt Position

Borrowings at ₹394Cr. Debt-to-equity ratio: 0.06x. Healthy balance sheet.

Capex Cycle

CWIP at ₹11Cr (1% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 30.47% (+2.43pp change). FIIs: 22.11% (+1.61pp change). Promoters hold 30.29%.

Margin & Efficiency

ROCE improving from 27% (Mar 2015) to 36% (Mar 2026). Working capital days: 78.

Valuation

PE 46.1x with 35.6% ROCE. Price is 1067% above book value of ₹425. Dividend yield: 0.73%.

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