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Persistent Systems Limited
(PERSISTENT)
Persistent Systems Limited (PERSISTENT) vs. iShares MSCI India ETF (INDA)
Persistent Systems Limited Business Overview & Revenue Model
Persistent Systems Limited Financial Statement Overview
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 139.35B | 119.39B | 90.95B | 83.51B | 57.11B | 41.88B |
| Gross Profit | 38.42B | 22.36B | 25.23B | 34.28B | 23.39B | 16.45B |
| EBITDA | 26.75B | 19.27B | 16.63B | 15.60B | 11.02B | 7.91B |
| Net Income | 17.32B | 14.00B | 10.93B | 9.21B | 6.90B | 4.51B |
Balance Sheet | ||||||
| Total Assets | 109.07B | 87.37B | 73.74B | 66.73B | 54.19B | 36.66B |
| Cash, Cash Equivalents and Short-Term Investments | 22.88B | 11.15B | 10.48B | 9.56B | 12.66B | 15.07B |
| Total Debt | 6.98B | 3.11B | 4.51B | 6.58B | 5.78B | 984.40M |
| Total Liabilities | 31.39B | 24.18B | 24.16B | 27.08B | 20.51B | 8.70B |
| Stockholders Equity | 77.68B | 63.19B | 49.58B | 39.65B | 33.68B | 27.96B |
Cash Flow | ||||||
| Free Cash Flow | 17.91B | 9.20B | 9.37B | 5.22B | 4.60B | 6.08B |
| Operating Cash Flow | 17.94B | 11.57B | 13.02B | 9.56B | 8.45B | 7.36B |
| Investing Cash Flow | -4.65B | -4.34B | -5.62B | -4.21B | -9.77B | -5.42B |
| Financing Cash Flow | -7.20B | -6.28B | -5.47B | -4.04B | 1.82B | -1.44B |
Persistent Systems Limited Technical Analysis
Persistent Systems Limited Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | ₹270.59B | 74.95 | ― | 1.38% | -1.19% | -17.92% | |
73 Outperform | ₹416.92B | 30.05 | ― | 1.94% | 8.73% | 11.33% | |
69 Neutral | ₹748.47B | 55.70 | ― | 0.55% | 23.27% | 33.09% | |
66 Neutral | ₹1.26T | 46.27 | ― | 1.08% | 8.72% | 4.54% | |
63 Neutral | ₹372.34B | 55.81 | ― | 0.88% | 41.97% | 38.73% | |
62 Neutral | ₹83.62B | -10.28 | ― | 0.55% | -17.23% | -185.73% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% |
Persistent Systems Limited Corporate Events
Persistent Systems Limited notified the stock exchanges that it held a one-on-one virtual interaction with investor Catamaran on March 10, 2026, under the SEBI disclosure framework. The company stated that it only reiterated information already shared in its January 20, 2026 earnings call for the quarter and nine months ended December 31, 2025, and confirmed that no new or additional disclosures were made during this investor session.
The communication directs stakeholders to the previously published Q3 FY26 analyst presentation and factsheet for detailed financial and operational information. By emphasizing that the interaction did not involve any fresh material information, Persistent signals that there is no change to its earlier disclosed outlook or performance metrics, which helps maintain regulatory compliance and ensures a level information playing field for all investors.
Persistent Systems has been named among Asia-Pacific’s top 10 professional services companies in TIME and Statista’s Best Companies in Asia-Pacific 2026 list, ranking ninth in the regional professional services category and seventh within India. The firm also placed 46th out of 179 Indian enterprises overall, putting it in the national top quartile and underscoring its strong competitive position in the IT services and consulting landscape.
The ranking is based on employee satisfaction, financial performance and sustainability transparency, where Persistent’s highest scores came in ESG disclosure, reflecting its forward-looking governance and measurable emissions reduction. Management links the recognition to sustained growth and disciplined execution of its AI-led digital engineering strategy, suggesting enhanced employer branding, client confidence and broader stakeholder trust in the company’s resilience and future-readiness.
Persistent Systems has initiated an internal group restructuring by signing a share purchase agreement to transfer 100% of the shareholding of its stepdown subsidiary, Persistent Systems Poland Spółka z o.o., from U.S.-based Persistent Systems Inc. to Ireland-based Aepona Group Limited, both wholly owned subsidiaries. The related-party, cash-based transaction, valued at PLN 8,819,650 with completion targeted by March 31, 2026, is aimed at entity rationalization and operational efficiency, resulting in the Polish unit becoming a direct wholly owned subsidiary of the Irish arm and streamlining the group’s international corporate structure without additional regulatory approvals.
Persistent Systems Limited notified the stock exchanges that it conducted investor and analyst interactions on March 4, 2026, with Bellwether Capital and HDFC Mutual Fund through one-on-one meetings held in physical and virtual formats. The company emphasized that these discussions only reiterated information already disclosed during its January 20, 2026 earnings call for the quarter and nine months ended December 31, 2025, indicating no new material disclosures and maintaining regulatory transparency for shareholders and market participants.
Persistent Systems Limited informed the stock exchanges that it held a one-on-one virtual investor and analyst interaction with Millennium, Singapore, on March 3, 2026. The company said it only reiterated information already disclosed during its January 20, 2026 earnings call for the quarter and nine months ended December 31, 2025, and confirmed that no new or additional information was shared beyond the previously published analyst presentation and fact sheet.
The disclosure under SEBI’s Listing Obligations and Disclosure Requirements framework underscores Persistent’s adherence to fair disclosure and transparency norms. By clarifying that the interaction relied solely on existing public disclosures, the company sought to reassure market participants that there was no selective dissemination of material information to a single investor.
Persistent Systems Limited has expanded its international presence through its Singapore-based wholly owned subsidiary, which has established a wholly owned foreign enterprise in China. The new entity, Baixinteng System Service (Shanghai) Co. Ltd., also referred to as Persistent Systems (Shanghai) Co. Ltd., has received its business license from the Shanghai Administration for Market Regulation.
This move marks Persistent’s formal entry into the Chinese market, positioning the company to tap local opportunities and better serve regional clients in one of the world’s largest technology and services markets. The establishment of the Shanghai unit underscores the company’s ongoing global expansion strategy and may strengthen its competitive standing and operational reach across Asia.
Persistent Systems Limited has announced a schedule of investor and analyst meetings to be held on March 4 and 5, 2026, in compliance with SEBI’s disclosure regulations. The company will hold one-on-one sessions with Carnelian Asset Management in person, and with Millennium, Dubai and Lombard Odier Investment Managers virtually.
During these interactions, Persistent will only reiterate information already communicated in its Q3 FY26 earnings call and related investor materials. The company emphasized that no unpublished price-sensitive information will be shared, underscoring its commitment to transparent and compliant investor communications for market participants.
Persistent Systems Limited disclosed that it held a one-on-one virtual investor and analyst interaction with Mirae Asset Mutual Fund on February 26, 2026, under regulatory disclosure norms. The company stated that it only reiterated information already shared in its January 20, 2026 earnings call for the quarter and nine months ended December 31, 2025, without providing any new or incremental disclosures to the market.
The session referenced the previously published Q3 FY26 investor presentation and fact sheet, indicating that all material operational and financial updates remain confined to those earlier public documents. This communication underscores the company’s adherence to fair disclosure practices, signaling to stakeholders that no selective or unpublished price-sensitive information was shared in the closed-door meeting.
Persistent Systems Limited has scheduled a series of investor and analyst interactions with Millennium Singapore, Bellwether Capital, and HDFC Mutual Fund on March 3 and 4, 2026, via a mix of virtual and physical one-on-one meetings. The company stated it will only reiterate information already shared during its January 20, 2026 earnings call for the quarter and nine months ended December 31, 2025, emphasizing that no unpublished price-sensitive information will be disclosed, underscoring its compliance with SEBI disclosure norms and its ongoing engagement with key institutional investors.
These meetings highlight Persistent Systems’ continued efforts to maintain transparent communication with major stakeholders, providing them structured access to management and previously released financial and operational updates. By directing investors to its existing Q3 FY26 analyst presentation and factsheet, the company reinforces disciplined information sharing practices that support market fairness while potentially strengthening institutional confidence and its standing in the capital markets.
Persistent Systems has been named the fastest growing IT services brand globally in the 2026 Brand Finance IT Services 25 report, joining the world’s top 25 IT services brands and ranking as the 12th strongest brand. The company’s brand value rose 22% year-on-year from $811 million in 2025 to $989 million in 2026, supported by an improved Brand Strength Index from 74.8 to 75.8 and retention of its AA+ rating, signaling rising awareness and trust in global markets.
This recognition underscores Persistent’s strategic shift from a pure digital engineering provider to a broader enterprise transformation partner, powered by an AI-led, platform-driven approach embedded across delivery, platforms and operations. Its orchestrated partner ecosystem and focus on repeatable platforms and outcome-based engagement have strengthened brand credibility, accelerated deal flow and supported 23 consecutive quarters of revenue growth, reinforcing its competitive position in the global IT services landscape.
Persistent Systems Limited has reported the outcome of a one-on-one virtual investor and analyst interaction held with American Century Investments on February 2, 2026. During this meeting, the company confined its discussion to reiterating information already disclosed in its Q3 FY26 earnings call for the quarter and nine months ended December 31, 2025, and confirmed that no new or additional information was shared beyond what is contained in its previously published analyst presentation and factsheet.
Persistent Systems Limited has announced that Senior Management Personnel Vijay Verma has resigned from his role as Executive Vice President – Serviceline BU, effective at the close of business on 30 January 2026 (US time), citing personal reasons and with the company clarifying that there is no other material reason for his departure. The responsibilities previously held by Verma will be assumed by Executive Vice President and Senior Management Personnel Nitha Puthran, who joined the company on 2 January 2026, suggesting a planned leadership transition intended to ensure continuity in the Serviceline business unit’s operations and minimise disruption for stakeholders.
Persistent Systems Limited has submitted to the stock exchanges the official transcript of its investor and analyst earnings conference call for the third quarter of FY26 and the nine months ended 31 December 2025. The company has also published this Q3 FY26 call transcript on its website, enhancing disclosure and accessibility for investors and analysts and complying with SEBI’s listing and disclosure regulations.
Persistent Systems Limited has informed stock exchanges that its previously scheduled investor/analyst session with Creagis on January 28, 2026 has been rescheduled to January 30, 2026 at 11:00 AM IST, to be held virtually on a one-on-one basis. The company stated that it will only reiterate information already shared during its January 20, 2026 earnings call for the quarter and nine months ended December 31, 2025, directing stakeholders to its published analyst presentation and factsheet, and emphasized that no unpublished price-sensitive information will be disclosed, underscoring its adherence to disclosure norms and transparency in investor communications.
Persistent Systems Limited has notified the stock exchanges that it will hold a one-on-one virtual investor and analyst interaction with Creagis on January 28, 2026. The company stated that the discussion will be limited to reiterating information already shared during its January 20, 2026 earnings call for the quarter and nine months ended December 31, 2025, and confirmed that no unpublished price-sensitive information will be disclosed, underscoring its compliance with regulatory norms and commitment to transparent communication with the market.
Persistent Systems Limited has notified stock exchanges that it has published the outcome and audio recording of its investor and analyst call for the quarter and nine months ended December 31, 2025. The materials, including the Q3 FY26 analyst presentation, factsheet, and call recording, have been made available on the company’s website in compliance with SEBI’s listing and disclosure regulations, enhancing transparency for investors and other market participants.
Persistent Systems Limited’s board has approved an interim dividend of ₹22 per equity share of face value ₹5 for the 2025-26 financial year, underscoring continued confidence in the company’s cash generation and financial position. The dividend will be paid to shareholders on record as of January 27, 2026, within the statutory 30-day window, providing near-term income to investors and signaling ongoing shareholder-friendly capital allocation amid the company’s growth in the IT services sector.
Persistent Systems Limited’s board has approved an internal restructuring under which it will transfer its entire shareholding in its German and French subsidiaries—Persistent Systems Germany GmbH and Persistent Systems France S.A.S.—to Aepona Group Limited, Ireland. The move, aimed at entity rationalization and improving operational efficiency within the group, will make the German and French units wholly owned subsidiaries of Aepona Group, with no stated special benefits to the promoter group; the restructuring primarily reshapes the internal shareholding pattern of the company’s European operations without indicating broader financial or ownership changes at the listed parent entity.
Persistent Systems Limited has appointed Ms. Nitha Puthran as Executive Vice President and Senior Managerial Person, effective January 2, 2026, strengthening its senior leadership team. Puthran, a Bachelor of Engineering graduate from the University of Bombay with over two decades of experience in building and scaling cloud, infrastructure, and managed services businesses, has led major transformation initiatives and secured significant cloud deals in the financial services sector, positioning the company to deepen its capabilities and competitiveness in high-growth digital infrastructure and cloud transformation markets.
Persistent Systems Limited has announced the closure of its trading window from December 25, 2025, to January 22, 2026, in line with SEBI’s Prohibition of Insider Trading Regulations and its internal code of conduct, ahead of the consideration and approval of its financial results for the quarter and nine months ending December 31, 2025. The company has notified its promoters, promoter group, directors, key managerial personnel, designated persons, their immediate relatives, and connected persons of the restriction, with trading to resume from January 23, 2026, underscoring its compliance focus and governance practices around handling unpublished price-sensitive information before earnings announcements.
Persistent Systems Limited has initiated an internal group restructuring by executing a Share Purchase Agreement to transfer full ownership of three overseas subsidiaries currently held by Persistent Systems Germany GmbH. The 100% shareholding in Persistent Systems Costa Rica Limitada will move to Persistent Systems Inc. in the US, while Persistent Systems Switzerland AG and Persistent Systems S.R.L. in Romania will be transferred to Ireland-based Aepona Group Limited, all on an arm’s-length basis and for cash consideration. The company states that the changes, to be completed by March 31, 2026, are aimed at entity rationalization and improving operational efficiency within the group, aligning its international corporate structure more closely with business and geographic priorities and potentially streamlining management and reporting lines across its ITES operations.
Persistent Systems Limited has completed the internal transfer of 100% shareholding of Aepona Group Limited, Ireland, from its wholly owned US subsidiary, Persistent Systems Inc., to the Indian parent entity after all customary closing conditions were met on December 23, 2025. With this step, Aepona Group Limited has become a direct wholly owned subsidiary of Persistent Systems Limited in India, simplifying the group’s ownership structure and potentially enhancing strategic, legal, and financial alignment of its international operations for shareholders and regulators.
Persistent Systems Limited recently conducted one-on-one investor sessions with Millennium Capital and Bajaj AMC, reiterating information from their previous earnings call for the quarter ending September 30, 2025. These interactions did not introduce new information but reinforced the company’s communicated performance and strategies, potentially strengthening investor confidence and maintaining transparency with stakeholders.