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Persistent Systems Limited
(PERSISTENT)
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Rating:75Outperform
Price Target:
â‚ą5,433.00
â–Ľ(-15.15% Downside)
Action:Upgraded
Date:06/30/26
The score is primarily driven by strong financial performance (healthy profitability, low leverage, and strong ROE), partially offset by weaker cash-flow consistency (including negative FCF growth) and a relatively expensive valuation (high P/E with modest yield). Technical signals could not be confirmed due to missing indicator data.
Positive Factors
Multi-year Revenue Scaling
Persistent has demonstrated sustained top-line expansion over multiple years, indicating successful account expansion and win rates in enterprise software engineering. Multi-year scaling supports durable revenue base, strengthens client relationships, and underpins reinvestment capacity for product and capability development.
Negative Factors
Negative Free Cash Flow Growth
Although absolute FCF is sizable, a near-term decline in FCF growth signals variability in cash conversion. Persistent fluctuations in working capital and conversion undermine predictability of internally funded investments and may constrain capital allocation priorities over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Multi-year Revenue Scaling
Persistent has demonstrated sustained top-line expansion over multiple years, indicating successful account expansion and win rates in enterprise software engineering. Multi-year scaling supports durable revenue base, strengthens client relationships, and underpins reinvestment capacity for product and capability development.
Read all positive factors
Persistent Systems Limited (PERSISTENT) vs. iShares MSCI India ETF (INDA)
Market Cap
â‚ą761.77B
Dividend Yield0.55%
Average Volume (3M)20.08K
Price to Earnings (P/E)42.2
Beta (1Y)1.17
Revenue Growth23.53%
EPS Growth31.95%
CountryIN
Employees21,950
SectorGeneral
Sector StrengthN/A
IndustryInformation Technology Services
Share Statistics
EPS (TTM)119.72
Shares Outstanding157,750,000
10 Day Avg. Volume23,945
30 Day Avg. Volume20,081
Financial Highlights & Ratios
PEG Ratio1.38
Price to Book (P/B)10.08
Price to Sales (P/S)5.36
P/FCF Ratio50.68
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
â‚ą5,450.00Price Target Upside-14.88% Downside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)147.2
Revenue Forecast (FY)â‚ą179.23B
Persistent Systems Limited Business Overview & Revenue Model
Company Description
Persistent Systems Limited, an Indian company founded in 1990 and headquartered in Pune, delivers a comprehensive suite of software products, services, and advanced technology solutions to an international clientele, including extensive operations...
How the Company Makes Money
Persistent primarily makes money by delivering technology services to enterprise customers under commercial contracts that bill for work performed and/or outcomes delivered. Key revenue streams include: (1) Software engineering and product develop...
Persistent Systems Limited Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
90
Very Positive
Cash Flow
74
Positive
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 147.48B | 119.39B | 98.22B | 83.51B | 57.11B |
| Gross Profit | 46.00B | 32.78B | 26.05B | 23.85B | 15.41B |
| EBITDA | 28.87B | 21.96B | 18.04B | 15.60B | 11.02B |
| Net Income | 18.65B | 14.00B | 10.93B | 9.21B | 6.90B |
Balance Sheet | |||||
| Total Assets | 113.77B | 87.37B | 73.74B | 66.73B | 54.19B |
| Cash, Cash Equivalents and Short-Term Investments | 21.40B | 11.15B | 10.48B | 9.56B | 12.66B |
| Total Debt | 4.77B | 3.11B | 4.51B | 6.58B | 5.78B |
| Total Liabilities | 35.39B | 24.18B | 24.16B | 27.08B | 20.51B |
| Stockholders Equity | 78.38B | 63.19B | 49.58B | 39.65B | 33.68B |
Cash Flow | |||||
| Free Cash Flow | 15.59B | 9.20B | 9.37B | 5.22B | 4.60B |
| Operating Cash Flow | 17.67B | 11.57B | 13.02B | 9.56B | 8.45B |
| Investing Cash Flow | -6.10B | -4.34B | -5.62B | -4.21B | -9.77B |
| Financing Cash Flow | -7.48B | -6.28B | -5.47B | -4.04B | 1.82B |
Persistent Systems Limited Technical Analysis
Neutral
6403.10
Price Trends
4904.15
Negative
4981.43
Negative
5470.70
Negative
Market Momentum
-68.69
Negative
50.77
Neutral
82.42
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:PERSISTENT, the sentiment is Neutral. The current price of 6403.1 is above the 20-day moving average (MA) of 4763.54, above the 50-day MA of 4904.15, and above the 200-day MA of 5470.70, indicating a neutral trend. The MACD of -68.69 indicates Negative momentum. The RSI at 50.77 is Neutral, neither overbought nor oversold. The STOCH value of 82.42 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:PERSISTENT.
Persistent Systems Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | ₹761.77B | 42.21 | ― | 0.55% | 23.53% | 31.95% | |
75 Outperform | ₹328.76B | 24.03 | ― | 1.56% | ― | ― | |
73 Outperform | ₹631.56B | 32.42 | ― | 0.88% | 33.81% | 89.36% | |
69 Neutral | ₹341.25B | 27.16 | ― | 1.19% | 8.97% | 0.85% | |
67 Neutral | ₹1.14T | 23.84 | ― | 1.08% | 11.31% | 9.00% | |
63 Neutral | ₹431.66B | 23.74 | ― | 1.94% | 11.59% | 8.85% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
IN:PERSISTENT
Persistent Systems Limited
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-8.73%
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Persistent Systems Limited Corporate Events
ICRA places Persistent Systems’ AA+ rating on negative watch after Nagarro deal plan
Jul 7, 2026
Credit rating agency ICRA Limited has revised its view on Persistent Systems Limited’s issuer rating, maintaining the [ICRA] AA+ level but placing it on rating watch with negative implications. The move follows Persistent’s June 27, 20...
Persistent Systems updates institutional investors on Nagarro business combination
Jul 1, 2026
Persistent Systems Limited notified the stock exchanges that it conducted a series of in-person investor and analyst meetings on July 1, 2026 with major asset managers, mutual funds, insurance firms and pension funds. These sessions were held to r...
Persistent Systems plans one-on-one investor meet on Nagarro deal
Jul 1, 2026
Persistent Systems has notified the stock exchanges that it will hold an in-person, one-on-one investor and analyst session with ICICI Prudential Mutual Fund on July 2, 2026, at 8:00 AM IST. The meeting is intended solely to reiterate information ...
Persistent Reiterates Nagarro Deal Details in One-on-One Investor Meeting
Jun 30, 2026
Persistent Systems Limited has disclosed the outcome of a one-on-one investor and analyst interaction held with Kotak Mahindra Mutual Fund on June 30, 2026 in Mumbai. The company clarified that Kotak Life Insurance could not attend and emphasized ...
Persistent Systems posts investor FAQs to bolster transparency
Jun 28, 2026
Persistent Systems Limited has notified stock exchanges that it has uploaded an Investor FAQs document on its website, providing additional clarity and information for shareholders and market participants. This update follows an earlier communicat...
Persistent details investor call on Nagarro AI-led digital engineering tie-up
Jun 28, 2026
Persistent Systems Limited announced that it has held an investor and analyst call to brief the market on its plan, together with Nagarro, to form a global leader in AI-led digital engineering. The company said the outcome of the call and the full...
Persistent Systems Sets Investor Call on Nagarro Deal Ahead of Market Reopening
Jun 27, 2026
Persistent Systems has scheduled a virtual investor and analyst call on Sunday, June 28, 2026, at 11:30 a.m. IST to discuss its recently announced business combination with Nagarro. The call is timed ahead of the reopening of markets in India and ...
Persistent Systems Secures USD 650 Million Long-Term Deal With Global Tech Leader
Jun 27, 2026
Persistent Systems has signed a six-and-a-half-year strategic services agreement with a major U.S.-headquartered global technology enterprise, with a total contract value exceeding USD 650 million. The deal covers product development, product supp...
Persistent Systems Sets Up German Subsidiary, Moves to Acquire 21% Stake in Nagarro SE
Jun 26, 2026
Persistent Systems has set up Galaxy Germany Holding SE as a wholly owned subsidiary in Germany, acquired via a local consultant, to serve as a strategic vehicle for mergers and acquisitions in Europe. The new Munich-based entity currently has no ...
Persistent Systems Sets Up German Holding Firm to Acquire 21% Stake in Nagarro
Jun 26, 2026
Persistent Systems has set up Galaxy Germany Holding SE as a wholly owned subsidiary in Germany, acquired via a local consultant, to act as a strategic vehicle for mergers and acquisitions in Europe. The shell entity, headquartered in Munich and w...
Persistent Systems Sets Up German Subsidiary, Moves for 21% Stake in Nagarro SE
Jun 26, 2026
Persistent Systems has established Galaxy Germany Holding SE in Munich as a wholly owned subsidiary, acquired via cash for EUR 135,000, to act as a strategic vehicle for mergers and acquisitions in Europe. The entity currently has no operations bu...
Persistent to Acquire Nagarro, Form AI-Led Digital Engineering Powerhouse
Jun 26, 2026
Persistent Systems plans to acquire Germany-based digital engineering specialist Nagarro through a voluntary public takeover offer at EUR 81 per share, valuing Nagarro at a significant premium to recent trading levels. Nagarro, which generates aro...
Persistent details June 22 investor meetings, reiterates prior disclosures
Jun 22, 2026
Persistent Systems Limited has disclosed that it held a series of investor and analyst meetings on June 22, 2026, with firms including Schonfeld Strategic Advisors, Banyan Tree Partners, Millennium Management UAE and Axis Max Life Insurance. These...
Persistent Systems Schedules Regulated One-on-One Meets With Key Institutional Investors
Jun 17, 2026
Persistent Systems Limited has announced that it will hold virtual one-on-one investor and analyst meetings with Axis Max Life Insurance on June 22, 2026, and with Eternalis Capital Trust and Polar Capital on June 23, 2026. During these interactio...
Persistent Systems Schedules One-on-One Investor Meets for June 22
Jun 16, 2026
Persistent Systems Limited has notified the stock exchanges that it will hold virtual one-on-one investor and analyst meetings on June 22, 2026, with Schonfeld Strategic Advisors and Millennium Management UAE. During these sessions, the company wi...
Persistent Systems Reiterates Prior Disclosures in FSSA Investor Meeting
Jun 10, 2026
Persistent Systems Limited has disclosed that it held a one-on-one, in-person investor and analyst meeting with FSSA Investment Managers on June 10, 2026, in line with disclosure requirements under SEBI’s Listing Regulations. The company sta...
Persistent Systems Reports No New Disclosures in Meeting With Aikya Investment Management
Jun 2, 2026
Persistent Systems Limited has disclosed that it held a one-on-one, in-person investor and analyst meeting with Aikya Investment Management on June 2, 2026, in Mumbai under the SEBI disclosure framework. The company stated that it only reiterated ...
Persistent and Kong form strategic alliance to secure enterprise AI at scale
May 25, 2026
Persistent Systems and API connectivity specialist Kong have entered a strategic partnership to build a unified control layer that helps enterprises securely move AI from experimentation into production. By combining Persistent’s engineering...
Persistent Systems expands European footprint with new Estonia subsidiary
May 22, 2026
Persistent Systems’ wholly owned subsidiary Aepona Group has set up a new unit in Estonia through the acquisition of PerSys Estonia OÜ, a newly formed company with share capital of EUR 10,000. The entity, incorporated in April 2026, is ...
Persistent Systems Reports Investor Meetings With No New Disclosures
May 5, 2026
Persistent Systems Limited informed the stock exchanges that it held investor and analyst interactions with Bellwether Capital and American Century Investments on May 5, 2026. These one-on-one virtual meetings followed SEBI disclosure norms and we...
Persistent Systems posts Q4 FY26 investor call outcome and recording online
Apr 21, 2026
Persistent Systems Limited has notified the Indian stock exchanges that it has made available the outcome and related materials from its investor and analyst call for the quarter and year ended 31 March 2026. The company, which is listed on NSE an...
Persistent Systems Reschedules Timing of Investor and Analyst Call
Apr 16, 2026
Persistent Systems Limited has notified the stock exchanges of a change in timing for its upcoming investor and analyst conference call. The call, previously scheduled for 7:30 p.m. IST on April 21, 2026, will now be held at 6:00 p.m. IST on the s...
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.