Mastek Limited (MASTEK) AI Stock Analysis

• Market Cap: ₹67.11B
• Dividend Yield: 1.62%
• Average Volume (3M): 13.68K
• Price to Earnings (P/E): 16.9
• Beta (1Y): 1.57
• Revenue Growth: 13.04%
• EPS Growth: 30.69%
• Country: IN
• Employees: 1,315
• Sector: Technology
• Sector Strength: 88
• Industry: Information Technology Services
• EPS (TTM): 29.50
• Shares Outstanding: 30,974,716
• 10 Day Avg. Volume: 33,172
• 30 Day Avg. Volume: 13,676
• 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: ₹2,704.00
• Price Target Upside: 24.81% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1

• Rating: 70 Outperform
• Price Target: ₹2,704.00 ▲(24.81% Upside)

Mastek Limited's overall stock score is driven by its strong financial performance and reasonable valuation. The technical analysis indicates some bearish momentum, which slightly offsets the positive financial outlook. The absence of earnings call data and corporate events means these factors do not influence the score.

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 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: Negative
• Last Price: 2166.50
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• 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 2166.5 is below the 20-day moving average (MA) of 2418.39, below the 50-day MA of 2464.67, and below the 200-day MA of 2474.97, indicating a bearish trend. The MACD of -68.95 indicates Positive momentum. The RSI at 28.93 is Positive, neither overbought nor oversold. The STOCH value of 10.98 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
MASTEK	70 Outperform	₹67.11B	16.88	―	1.62%	13.04%	30.69%
SAKSOFT	67 Neutral	₹26.51B	22.02	17.57%	0.40%	19.50%	18.47%
SILVERTUC	67 Neutral	₹9.00B	39.28	16.60%	0.07%	23.77%	25.92%
RSYSTEMS	64 Neutral	₹49.33B	25.52	21.02%	3.00%	4.36%	35.84%
SASKEN	63 Neutral	₹21.08B	50.60	6.38%	2.74%	62.55%	-41.78%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%

Mastek Limited Corporate Events

Mastek Limited Announces Web-link Distribution for Annual Report and Upcoming AGM

Mastek Limited has announced the distribution of a web-link to its Annual Report for the financial year 2024-25 to shareholders who have not registered their email addresses. This initiative ensures transparency and accessibility of company information, aligning with regulatory requirements. The company also informed stakeholders about its upcoming 43rd Annual General Meeting, scheduled to be held virtually on September 23, 2025. This move underscores Mastek’s commitment to engaging with its shareholders and maintaining compliance with corporate governance standards.

Mastek Limited Allots 25,047 Shares Under ESOP

Mastek Limited has announced the allotment of 25,047 equity shares to eligible employees under its Employee Stock Option Plans (ESOP), increasing the company’s paid-up share capital. This move reflects Mastek’s commitment to rewarding its employees and aligns with its strategic growth objectives, potentially enhancing employee engagement and retention.

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.