Mastek Limited (MASTEK) AI Stock Analysis

• Market Cap: ₹80.70B
• Dividend Yield: 0.74%
• Average Volume (3M): 4.39K
• Price to Earnings (P/E): 20.3
• Beta (1Y): 1.44
• Revenue Growth: 13.04%
• EPS Growth: 30.69%
• Country: IN
• Employees: 1,315
• Sector: Technology
• Sector Strength: 84
• Industry: Information Technology Services
• EPS (TTM): 29.50
• Shares Outstanding: 30,949,670
• 10 Day Avg. Volume: 3,771
• 30 Day Avg. Volume: 4,387
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹2,769.00
• Price Target Upside: 11.15% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1

• Rating: 72 Outperform
• Price Target: ₹2,769.00 ▲(11.15% Upside)

Mastek Limited's strong financial performance is the primary driver of its overall score, supported by solid revenue growth and profitability. The technical analysis suggests a neutral to slightly bearish short-term trend, while the valuation indicates the stock is fairly valued. The absence of earnings call data and corporate events means these factors do not impact the score.

Mastek Limited Business Overview & Revenue Model

Company Description

Mastek Limited (MASTEK) is a global technology services company, specializing in providing digital transformation solutions and services. The company operates in the IT services sector, offering a wide range of services including enterprise application development, digital commerce, business intelligence and analytics, and application support. Mastek serves clients across various industries such as retail, healthcare, financial services, and government, aiming to enhance their business performance through innovative technology solutions.

How the Company Makes Money

Mastek Limited generates revenue primarily through its IT services and solutions, which include application development, digital transformation services, consulting, and managed services. The company charges its clients for the development and implementation of custom software solutions, as well as for ongoing support and maintenance services. Key revenue streams include project-based contracts, where Mastek develops specific software solutions for clients, and long-term service agreements for continuous application management and support. The company often enters into strategic partnerships with technology providers and clients to expand its service offerings and enhance its market presence. Significant factors contributing to its earnings include its ability to deliver cost-effective solutions, leverage emerging technologies, and maintain strong client relationships.

Mastek Limited Financial Statement Overview

Summary

Mastek Limited shows strong financial performance with robust revenue growth, solid profitability margins, and a stable balance sheet. The company has a conservative leverage strategy and effective cost management, positioning it well for continued growth.

Income Statement

Mastek Limited has demonstrated robust revenue growth with a CAGR of approximately 22% over the past five years. The gross profit margin has been consistently healthy, reaching 46.2% in 2025. Net profit margin has improved to 10.9% from 10.1% in 2024, showing effective cost management. The EBIT and EBITDA margins are strong, at 46.2% and 15.9% respectively, indicating efficient operational performance.

Balance Sheet

The company's financial stability is solid with a debt-to-equity ratio of 0.24 in 2025, reflecting a conservative leverage strategy. Return on equity (ROE) has improved to 15.3%, indicating effective use of shareholder funds. The equity ratio stands at 63.7%, suggesting a strong capital structure with a significant portion of the company's assets financed by equity.

Cash Flow

Mastek's free cash flow growth has been volatile, with a decrease in 2025 compared to 2024. However, the operating cash flow to net income ratio remains healthy at 1.05, indicating strong cash generation relative to net profits. The free cash flow to net income ratio is also favorable at 1.00, demonstrating solid cash flow conversion.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	34.54B	34.55B	30.55B	25.63B	21.84B	17.22B
Gross Profit	15.96B	15.96B	6.86B	12.41B	11.40B	8.78B
EBITDA	5.88B	5.49B	5.19B	5.19B	4.98B	3.92B
Net Income	3.76B	3.76B	3.00B	2.93B	2.95B	2.09B
Balance Sheet
Total Assets	38.63B	38.63B	36.85B	31.41B	24.88B	22.96B
Cash, Cash Equivalents and Short-Term Investments	6.22B	6.22B	4.59B	2.64B	7.82B	8.01B
Total Debt	5.83B	5.83B	5.19B	4.03B	2.03B	2.73B
Total Liabilities	14.01B	14.01B	15.98B	13.66B	12.66B	12.55B
Stockholders Equity	24.62B	24.62B	20.87B	16.83B	10.71B	8.59B
Cash Flow
Free Cash Flow	0.00	3.75B	3.89B	755.70M	2.37B	2.75B
Operating Cash Flow	0.00	3.95B	4.20B	1.07B	2.73B	2.87B
Investing Cash Flow	0.00	-2.75B	-2.56B	-7.37B	-201.50M	1.81B
Financing Cash Flow	0.00	-568.50M	18.30M	925.70M	-1.28B	-1.18B

Mastek Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2491.20
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MASTEK, the sentiment is Positive. The current price of 2491.2 is below the 20-day moving average (MA) of 2519.95, below the 50-day MA of 2511.11, and below the 200-day MA of 2555.06, indicating a bullish trend. The MACD of 11.40 indicates Negative momentum. The RSI at 55.05 is Neutral, neither overbought nor oversold. The STOCH value of 75.09 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:MASTEK.

Mastek Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MASTEK	72 Outperform	₹80.70B	20.31		0.74%	13.04%	30.69%
Sector *	61 Neutral	$35.51B	8.11	-11.05%	1.89%	8.55%	-8.72%
ROSSTECH	―	₹26.75B	―		―	―	―
RSYSTEMS	73 Outperform	₹54.73B	28.31		2.72%	4.36%	35.84%
SAKSOFT	68 Neutral	₹27.88B	23.16		0.38%	19.50%	18.47%
SASKEN	64 Neutral	₹21.44B	51.47		2.58%	62.55%	-41.78%
SILVERTUC	60 Neutral	₹8.75B	38.20		0.07%	23.77%	25.92%

Mastek Limited Corporate Events

Mastek Limited Announces Analyst and Investor Meet with Tata Asset Management

Mastek Limited has announced a scheduled Analyst and Institutional Investor Meet with Tata Asset Management Pvt. Ltd. on July 31, 2025, in Mumbai. The meeting will focus on industry and company-specific developments already in the public domain, ensuring no unpublished price-sensitive information is shared. This engagement reflects Mastek’s commitment to transparency and maintaining strong relationships with investors, potentially impacting its market perception positively.