Tata Teleservices (Maharashtra) Limited (IN:TTML)
:TTML
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Tata Teleservices (Maharashtra) Limited
(TTML)
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Rating:49Neutral
Price Target:
₹45.00
▼(-6.85% Downside)
Action:ReiteratedDate:04/24/26
The score is held back primarily by severe balance-sheet risk (very high debt and deeply negative equity) and the company remaining loss-making (negative P/E). These are partially offset by improving cash-flow momentum (higher FY2026 free cash flow) and moderately positive near-term technicals (above key short-term moving averages with supportive momentum).
Positive Factors
Cash generation
Consistently positive operating cash flow and a sharply improved free cash flow in FY2026 (~₹6.7B OCF; ~₹5.3B FCF, +95% YoY) provide durable internal funding for operations and capex. This reduces reliance on new external financing and supports continuity and reinvestment over the medium term.
Negative Factors
Extremely leveraged balance sheet
The balance sheet is structurally strained: very large total debt (~₹209B) versus a small asset base (~₹13.4B) and deeply negative shareholders’ equity (~-₹200B). This high leverage materially constrains flexibility, elevates refinancing and covenant risk, and increases the marginal cost of capital for strategic initiatives.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation
Consistently positive operating cash flow and a sharply improved free cash flow in FY2026 (~₹6.7B OCF; ~₹5.3B FCF, +95% YoY) provide durable internal funding for operations and capex. This reduces reliance on new external financing and supports continuity and reinvestment over the medium term.
Read all positive factors
Tata Teleservices (Maharashtra) Limited (TTML) vs. iShares MSCI India ETF (INDA)
Market Cap
₹87.07B
Dividend YieldN/A
Average Volume (3M)232.66K
Price to Earnings (P/E)―
Beta (1Y)1.35
Revenue Growth-11.30%
EPS Growth83.09%
CountryIN
Employees390
SectorServices
Sector StrengthN/A
IndustryTelecommunications Services
Share Statistics
EPS (TTM)2.97
Shares Outstanding1,954,927,700
10 Day Avg. Volume285,486
30 Day Avg. Volume232,655
Financial Highlights & Ratios
PEG Ratio0.34
Price to Book (P/B)-0.31
Price to Sales (P/S)5.29
P/FCF Ratio11.53
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)N/A
Revenue Forecast (FY)N/A
Tata Teleservices (Maharashtra) Limited Business Overview & Revenue Model
Company Description
Tata Teleservices (Maharashtra) Limited provides wireline voice, data, and managed telecom services to enterprise customers in Maharashtra and Goa, India. The company provides its connectivity and communication solutions under the Tata Tele Busine...
How the Company Makes Money
TTML primarily makes money by selling subscription-based and usage-based telecom and enterprise connectivity services to business customers. Key revenue streams include: (1) Recurring connectivity charges from enterprise internet access, dedicated...
Tata Teleservices (Maharashtra) Limited Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
12
Very Negative
Cash Flow
62
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 12.11B | 11.60B | 13.08B | 11.92B | 11.06B | 10.94B |
| Gross Profit | 5.64B | 11.60B | 5.91B | 5.58B | 5.24B | 4.97B |
| EBITDA | 5.45B | 12.88B | 5.18B | 4.85B | 4.56B | 4.31B |
| Net Income | -12.67B | -2.15B | -12.75B | -12.28B | -11.45B | -12.15B |
Balance Sheet | ||||||
| Total Assets | 12.35B | 13.41B | 13.04B | 13.07B | 12.11B | 13.65B |
| Cash, Cash Equivalents and Short-Term Investments | 731.00M | 412.10M | 1.00B | 668.40M | 806.70M | 1.18B |
| Total Debt | 205.02B | 208.69B | 204.16B | 200.47B | 198.69B | 197.56B |
| Total Liabilities | 209.79B | 213.24B | 208.74B | 205.60B | 202.65B | 201.97B |
| Stockholders Equity | -197.44B | -199.83B | -195.70B | -192.53B | -190.55B | -188.32B |
Cash Flow | ||||||
| Free Cash Flow | 2.73B | 5.32B | 4.06B | 4.77B | 4.47B | 4.25B |
| Operating Cash Flow | 3.47B | 6.68B | 5.05B | 5.87B | 5.58B | 5.32B |
| Investing Cash Flow | -799.60M | -905.80M | -1.09B | -649.80M | -662.00M | -1.32B |
| Financing Cash Flow | -3.05B | -6.04B | -3.86B | -5.03B | -4.94B | -4.27B |
Tata Teleservices (Maharashtra) Limited Technical Analysis
Positive
48.31
Price Trends
40.53
Positive
44.60
Positive
51.61
Negative
Market Momentum
1.09
Negative
68.28
Neutral
86.46
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:TTML, the sentiment is Positive. The current price of 48.31 is above the 20-day moving average (MA) of 38.19, above the 50-day MA of 40.53, and below the 200-day MA of 51.61, indicating a neutral trend. The MACD of 1.09 indicates Negative momentum. The RSI at 68.28 is Neutral, neither overbought nor oversold. The STOCH value of 86.46 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:TTML.
Tata Teleservices (Maharashtra) Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | ₹27.66B | 24.27 | ― | 4.14% | 7.36% | 33.18% | |
58 Neutral | ₹19.56B | 19.28 | ― | ― | 5.39% | -11.80% | |
55 Neutral | $13.29B | 17.42 | 10.03% | 0.93% | 7.13% | -12.93% | |
52 Neutral | ₹7.52B | -10.51 | ― | 2.00% | 6.96% | -67.21% | |
49 Neutral | ₹87.07B | -28.51 | ― | ― | -11.30% | 83.09% | |
44 Neutral | ₹19.27B | -0.63 | ― | ― | -15.50% | -10.50% |
* Services Sector Average
IN:TTML
Tata Teleservices (Maharashtra) Limited
44.69
-13.78
-23.57%
IN:GTPL
GTPL Hathway Ltd
66.69
-37.75
-36.15%
IN:HATHWAY
Hathway Cable & Datacom Ltd.
11.10
-2.80
-20.14%
IN:MPSLTD
MPS Limited
1,706.10
-594.72
-25.85%
IN:MTNL
Mahanagar Telephone Nigam Limited
31.72
-10.88
-25.54%
IN:SUYOG
Suyog Telematics Ltd.
763.80
-165.24
-17.79%
Tata Teleservices (Maharashtra) Limited Corporate Events
Tata Teleservices (Maharashtra) Says It Does Not Qualify as Large Corporate
Apr 23, 2026
Tata Teleservices (Maharashtra) Limited has notified the stock exchange that it does not qualify as a large corporate under the applicable borrowing criteria for the latest financial year. The company reported a reduction in outstanding long-term ...
Tata Teleservices (Maharashtra) Files SEBI Compliance Certificate on Share Demat Activity
Apr 3, 2026
Tata Teleservices (Maharashtra) Limited has submitted a compliance certificate for the quarter ended 31 March 2026, confirming that details of securities dematerialized and rematerialized have been furnished to all stock exchanges where its shares...
Tata Teleservices (Maharashtra) Announces Resignation of Senior Managerial Executive
Mar 19, 2026
Tata Teleservices (Maharashtra) Limited has announced a senior management change, disclosing that Amee Joshi, who served as Company Secretary of the holding company and as a senior managerial personnel for the listed entity, has resigned to pursue...
Tata Teleservices (Maharashtra) Names Amit Gupta Company Secretary and Compliance Officer
Mar 2, 2026
Tata Teleservices (Maharashtra) Limited has appointed Amit Gupta as its Company Secretary and Compliance Officer with effect from 2 March 2026, following the Board’s approval based on the Nomination and Remuneration Committee’s recomme...
Tata Teleservices (Maharashtra) Names Key Executives to Oversee SEBI Disclosures
Mar 2, 2026
Tata Teleservices (Maharashtra) Limited has updated its governance framework by designating key managerial personnel as authorised persons under Regulation 30(5) of SEBI’s Listing Obligations and Disclosure Requirements. Managing Director Ha...
TRAI Slaps Tata Teleservices (Maharashtra) With Penalty Over Unsolicited Communications
Feb 27, 2026
Tata Teleservices (Maharashtra) Limited has disclosed that the Telecom Regulatory Authority of India has imposed a financial disincentive of Rs 9.12 lakh for the March 2024 quarter, citing failure to adequately curb Unsolicited Commercial Communic...
Tata Teleservices (Maharashtra) Clarifies NSE Query on Surge in Share Trading Volume
Feb 1, 2026
Tata Teleservices (Maharashtra) Limited has responded to a query from the National Stock Exchange of India regarding a significant spurt in trading volumes of its shares. The company stated that it has been and will remain compliant with disclosur...
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.