Mastek Limited (IN:MASTEK)
:MASTEK
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Mastek Limited
(MASTEK)
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Rating:73Outperform
Price Target:
₹1,732.00
▼(-18.15% Downside)
Action:Reiterated
Date:04/21/26
The score is driven primarily by solid financial performance (strong growth, resilient balance sheet, and improved recent cash generation), partly offset by margin compression and past cash-flow volatility. Technicals are mixed with improving short-term momentum but weaker longer-term trend positioning and stretched stochastic. Valuation is reasonable on earnings, though the low dividend yield reduces support.
Positive Factors
Balance sheet health
Low and improving leverage with expanding equity provides durable financial flexibility. It supports funding multi-year client programs, cushions revenue cyclicality, preserves borrowing capacity for strategic acquisitions or working capital, and reduces refinancing risk over the medium term.
Negative Factors
Margin compression
Eroding margins reduce the company's buffer against cost shocks and limit retained earnings for reinvestment. If structural (pricing pressure, rising delivery costs, or unfavorable mix), sustained compression could weaken cash generation and constrain strategic investments over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance sheet health
Low and improving leverage with expanding equity provides durable financial flexibility. It supports funding multi-year client programs, cushions revenue cyclicality, preserves borrowing capacity for strategic acquisitions or working capital, and reduces refinancing risk over the medium term.
Read all positive factors
Mastek Limited (MASTEK) vs. iShares MSCI India ETF (INDA)
Market Cap
₹50.94B
Dividend Yield1.62%
Average Volume (3M)14.29K
Price to Earnings (P/E)9.8
Beta (1Y)1.37
Revenue Growth7.55%
EPS Growth7.12%
CountryIN
Employees1,315
SectorTechnology
Sector Strength88
IndustryInformation Technology Services
Share Statistics
EPS (TTM)118.15
Shares Outstanding31,000,782
10 Day Avg. Volume5,598
30 Day Avg. Volume14,289
Financial Highlights & Ratios
PEG Ratio1.45
Price to Book (P/B)1.39
Price to Sales (P/S)1.12
P/FCF Ratio8.26
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)143.18
Revenue Forecast (FY)₹40.95B
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 a...
How the Company Makes Money
Mastek makes money primarily by delivering IT services and solutions to enterprise and government clients under project-based and recurring service arrangements. Key revenue streams typically include: (1) Consulting and professional services fees ...
Mastek Limited Financial Statement Overview
Summary
Income Statement
76
Positive
Balance Sheet
83
Very Positive
Cash Flow
78
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 36.35B | 36.99B | 34.55B | 30.55B | 25.63B | 21.84B |
| Gross Profit | 5.39B | 5.14B | 7.42B | 6.86B | 5.85B | 5.94B |
| EBITDA | 6.08B | 5.86B | 5.49B | 5.19B | 5.19B | 4.98B |
| Net Income | 3.65B | 4.04B | 3.76B | 3.00B | 2.93B | 2.95B |
Balance Sheet | ||||||
| Total Assets | 40.34B | 43.09B | 38.63B | 36.85B | 31.41B | 24.88B |
| Cash, Cash Equivalents and Short-Term Investments | 7.06B | 9.39B | 6.22B | 4.59B | 2.64B | 7.82B |
| Total Debt | 5.44B | 4.38B | 5.83B | 5.19B | 4.03B | 2.03B |
| Total Liabilities | 13.57B | 13.17B | 14.01B | 15.98B | 13.66B | 12.66B |
| Stockholders Equity | 26.77B | 29.92B | 24.62B | 20.87B | 16.83B | 10.71B |
Cash Flow | ||||||
| Free Cash Flow | 1.18B | 5.03B | 3.75B | 3.89B | 755.70M | 2.37B |
| Operating Cash Flow | 1.39B | 5.31B | 3.95B | 4.20B | 1.08B | 2.73B |
| Investing Cash Flow | -328.40M | -861.30M | -2.75B | -2.56B | -7.37B | -201.50M |
| Financing Cash Flow | -1.28B | -2.70B | -568.50M | 18.30M | 925.70M | -1.28B |
Mastek Limited Technical Analysis
Positive
2115.95
Price Trends
1588.53
Positive
1767.97
Negative
2028.17
Negative
Market Momentum
-7.26
Positive
51.35
Neutral
67.09
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 2115.95 is above the 20-day moving average (MA) of 1653.91, above the 50-day MA of 1588.53, and above the 200-day MA of 2028.17, indicating a neutral trend. The MACD of -7.26 indicates Positive momentum. The RSI at 51.35 is Neutral, neither overbought nor oversold. The STOCH value of 67.09 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
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | ₹50.94B | 9.80 | ― | 1.62% | 7.55% | 7.12% | |
73 Outperform | ₹462.43B | 24.00 | ― | 0.88% | 33.81% | 89.36% | |
69 Neutral | ₹791.78B | 37.31 | ― | 0.55% | 23.53% | 31.95% | |
68 Neutral | ₹56.59B | 42.91 | ― | 1.26% | 16.66% | -16.99% | |
67 Neutral | ₹1.22T | 21.36 | ― | 1.08% | 11.31% | 9.00% | |
63 Neutral | ₹425.25B | 19.20 | ― | 1.94% | 11.59% | 8.85% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% |
* Technology Sector Average
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Mastek Limited Corporate Events
Mastek Issues Q4 and FY26 Results Press Release and Investor Deck
Apr 17, 2026
Mastek Limited has notified the stock exchanges that it has released a press statement and investor presentation detailing its audited financial results for the fourth quarter and full year ended March 31, 2026. The materials, which will soon be d...
Mastek Releases Q4 and FY26 Audited Results Investor Presentation
Apr 17, 2026
Mastek Limited has notified the stock exchanges that it has released a press note and an investor presentation covering its audited financial results for the fourth quarter and full year ended March 31, 2026. The materials, which will be made avai...
Mastek Files SEBI Regulation 74(5) Compliance Certificate for March Quarter
Apr 6, 2026
Mastek Limited has notified the stock exchanges that it has obtained a compliance certificate from its registrar and share transfer agent, KFin Technologies Limited, for the quarter ended 31 March 2026. The certificate confirms that details of sec...
Mastek Schedules One-to-One Meets With Institutional Investors on March 18
Mar 17, 2026
Mastek Limited has scheduled one-to-one analyst and institutional investor meetings in Mumbai on March 18, 2026, with Macquarie Capital Securities (India) Pvt. Ltd. and Batlivala Karani Securities India Pvt. Ltd. The discussions will cover indust...
Mastek Schedules One-to-One Meets With Institutional Investors in Mumbai
Mar 16, 2026
Mastek Limited has scheduled one-to-one analyst and institutional investor meetings in Mumbai on March 17, 2026, with Avendus Spark Institutional Equities and Emkay Global Financial Services. Discussions will focus on industry and company developm...
Mastek to Hold One-on-One Virtual Meet With HDFC AMC on March 5
Mar 4, 2026
Mastek Limited has informed the stock exchanges that it will hold a one-to-one virtual analyst and institutional investor meeting with HDFC Asset Management Company on March 5, 2026, at 3:30 p.m. The discussion will focus on industry and company-s...
Mastek Schedules Virtual Investor Meet With 360 One Asset Management
Feb 23, 2026
Mastek Limited has notified the stock exchanges that it will host a virtual analyst and institutional investor meeting with 360 One Asset Management on February 24, 2026. The single-investor interaction will focus on industry and company developme...
Mastek Schedules Virtual Analyst Meet With ICICI Prudential AMC
Feb 20, 2026
Mastek Limited has announced that it will hold a virtual analyst and institutional investor meeting with ICICI Prudential Asset Management Company on February 21, 2026, at 2:30 p.m. The discussion will cover industry and company-specific developme...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.