Mastek Limited (MASTEK) AI Stock Analysis

• Market Cap: ₹66.26B
• Dividend Yield: 1.65%
• Average Volume (3M): 14.29K
• Price to Earnings (P/E): 18.1
• Beta (1Y): 1.49
• Revenue Growth: 11.91%
• EPS Growth: -1.02%
• Country: IN
• Employees: 1,315
• Sector: Technology
• Sector Strength: 88
• Industry: Information Technology Services
• EPS (TTM): 31.10
• Shares Outstanding: 30,980,650
• 10 Day Avg. Volume: 5,598
• 30 Day Avg. Volume: 14,289
• PEG Ratio: 0.72
• Price to Book (P/B): 2.68
• Price to Sales (P/S): 1.91
• P/FCF Ratio: 17.62
• 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: N/A
• Price Target Upside: N/A
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 65 Neutral
• Price Target: ₹2,220.00 ▲(4.39% Upside)

Mastek Limited's overall stock score is driven primarily by its strong financial performance, which is offset by bearish technical indicators. The valuation is reasonable, but current market momentum suggests caution. The absence of earnings call and corporate events data limits additional insights.

Positive Factors

Revenue Growth

Consistent revenue growth at a CAGR of 22% over five years indicates strong market demand and effective business strategies, supporting long-term expansion.

Profitability Margins

Sustained high gross profit margins reflect efficient cost management and pricing power, which are crucial for maintaining profitability in competitive markets.

Balance Sheet Health

A low debt-to-equity ratio indicates prudent financial management, reducing risk and enhancing financial stability, which is vital for long-term resilience.

Negative Factors

EPS Growth Decline

Negative EPS growth suggests challenges in translating revenue growth into shareholder value, potentially impacting investor confidence and stock performance.

Free Cash Flow Volatility

Volatile free cash flow can hinder investment in growth opportunities and affect liquidity, posing risks to financial flexibility and operational stability.

Earnings Call Absence

Lack of earnings call data limits transparency and investor insight into management's strategic direction, potentially affecting market perception and trust.

Mastek Limited Business Overview & Revenue Model

Company Description

Mastek Limited, together with its subsidiaries, provides enterprise technology solutionsin India, the United Kingdom, Europe, the United States, the Middle East, and internationally. The company offers business and technology services comprising application development, ERP implementation and cloud migration, digital commerce, application support and maintenance, business intelligence and analytics, agile consulting, testing and assurance, and legacy modernization. It also provides data warehousing and enterprise digital transformation services. The company serves government, healthcare, retail, financial services, and other sectors. Mastek Limited was incorporated in 1982 and is based in Mumbai, India.

How the Company Makes Money

Mastek generates revenue primarily through its IT services and solutions, which are delivered on a project basis or through ongoing managed services contracts. Key revenue streams include custom software development, cloud migration services, data analytics, and application management. The company also earns income from consulting services aimed at helping organizations with digital transformation initiatives. Significant partnerships with leading technology providers enhance Mastek's offerings and expand its market reach, while long-term contracts with clients in sectors like healthcare and government contribute to steady revenue growth. Additionally, the company may engage in performance-based pricing structures, which can further boost profitability.

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 maintains low leverage and healthy cash flows, positioning it favorably within the industry.

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	35.57B	34.55B	30.55B	25.63B	21.84B	17.22B
Gross Profit	7.99B	7.42B	6.86B	5.85B	5.94B	4.43B
EBITDA	6.08B	5.49B	5.19B	5.19B	4.98B	3.92B
Net Income	3.96B	3.76B	3.00B	2.93B	2.95B	2.09B
Balance Sheet
Total Assets	0.00	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	0.00	5.83B	5.19B	4.03B	2.03B	2.73B
Total Liabilities	-24.62B	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	1.08B	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: Negative
• Last Price: 2126.55
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: 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 2126.55 is below the 20-day moving average (MA) of 2229.57, below the 50-day MA of 2182.42, and below the 200-day MA of 2317.06, indicating a bearish trend. The MACD of -13.47 indicates Positive momentum. The RSI at 37.96 is Neutral, neither overbought nor oversold. The STOCH value of 9.50 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

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
RSYSTEMS	73 Outperform	₹49.64B	26.29	―	3.10%	8.36%	36.68%
SAKSOFT	72 Outperform	₹26.20B	21.76	―	0.44%	21.17%	27.66%
SILVERTUC	66 Neutral	₹9.63B	42.05	―	0.07%	16.93%	36.77%
MASTEK	65 Neutral	₹66.26B	18.10	―	1.65%	11.91%	-1.02%
SASKEN	63 Neutral	₹20.77B	52.82	―	2.08%	77.13%	-39.91%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%

Mastek Limited Corporate Events

Mastek Limited to Announce Q2FY26 Financial Results

Mastek Limited announced it will release its unaudited financial results for the second quarter and half-year ending September 30, 2025, on October 16, 2025. An earnings conference call is scheduled for October 17, 2025, to discuss these results. This announcement is significant for stakeholders as it provides insights into the company’s financial health and operational performance, potentially impacting its market positioning and investor relations.

Mastek Limited Announces Allotment of Equity Shares Under ESOP

Mastek Limited has announced the allotment of 5,932 equity shares under its Employee Stock Option Plans (ESOP), approved by the Stakeholder Relationship Committee. This allotment increases the company’s paid-up share capital, reflecting its commitment to employee incentivization and aligning employee interests with company growth.

Mastek Revolutionizes Harmony Australasia’s HR with Oracle HCM Cloud

Mastek Limited has successfully implemented Oracle HCM Cloud Applications for Harmony Australasia, a leading mining company in Australasia. This transformation has created a unified HR platform across multiple legal entities, enhancing workforce planning, compliance, and employee engagement while setting a new standard for HR transformation in the mining sector.

Mastek Limited’s AGM Resolutions Approved with Majority Support

Mastek Limited announced that all resolutions proposed at its 43rd Annual General Meeting held on September 23, 2025, were approved by the requisite majority of its members. The meeting, which included electronic voting, saw participation from both promoters and public shareholders, indicating strong engagement and support for the company’s strategic directions.