Mastek Ltd
MASTEKMastek Ltd's earnings have outrun its stock. EPS grew +7.3% in a year against a −28.9% price move.
The sharpest disagreement: annual EPS moved +7.3% against a −28.9% price move — the market has not yet caught up with the delivery.
The price is in a downtrend (43 weeks in) while the P/E sits at the 19th percentile of its own 10-year range. Underneath, the last four quarters read improving — profit +15.2% year on year, and 124% of the last 3 years' profit arrived as cash. What settles it: whether the price catches up with earnings that have already moved.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
Mastek Ltd trades at ₹1,773, in a downtrend and 43 weeks into that stage. That is −4.3% against its own 200-day average. It sits at 36% of a 52-week range of ₹1,398 to ₹2,453. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 1 straight week.
Today the stock is in a downtrend — week 43 of stage 4, confirmed. At ₹1,773 it trades −4.3% versus its 200-day average and sits at 36% of its 52-week range (₹1,398–₹2,453).
Against the market, two honest reads. Cumulative: over the last 10.3 years the stock moved +1,388% while the NIFTY 500 moved +274% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 1 straight week — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
→ The trend is one thing; the bill is another. Are you paying up for it? Next: the P/E sits at the 19th percentile of its own range.
Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.
Mastek Ltd trades at 12.0× P/E, near the bottom of its own range — cheaper only 19% of the time. Its long-run median P/E is 17.9×, measured across 10.4 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 12.0× is near the bottom of its own range — cheaper only 19% of the time, against a long-run median of 17.9× measured over 10.4 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
Why the multiple sits where it does: over the past year annual EPS moved +7.3% against a −28.9% price move — earnings outran the price, pushing the multiple DOWN its own range.
The price move, decomposed: over 5y, of the −6.5%/yr price move, ~+8.3%/yr came from earnings growth and ~−14.8 pp from the multiple (compressing); over 10y, of the +28.9%/yr price move, ~+39.3%/yr came from earnings growth and ~−10.4 pp from the multiple (compressing). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.
Put together: the multiple is low against its own past, so the story rests on the earnings line underneath it, not the multiple.
The PEG ratio and its quarterly curve, which only the second data source carries, are not drawn on this page: its two data sources disagree by up to 4.6% on reported income across 14 comparable periods. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.
→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.
Stage: Consistent Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
Mastek Ltd reads as consistent on its fundamental arc. Consistent — revenue, profit and EPS growth have stayed positive through the window, with ROCE at 18.0% and holding. The read is built from 8 quarters across 4 curves, on partial evidence.
Why it matters: steady curves with healthy returns are the compounding setup — the risk is the price, not the business.
Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.
A partial read: at least one curve is short, or the returns curve is not the computed quarterly series — hold the stage word a little more loosely.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +7.1% | +13.0% | +16.5% | +21.5% |
| Profit | +7.4% | +9.2% | +9.9% | +40.0% |
| EPS | +7.3% | +10.7% | +9.5% | +36.1% |
| Share price | −28.9% | −6.3% | −6.5% | +28.9% |
→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.
4-Factor Sector Score
47.2/100 — rank 38 of 63 in IT - Software · 83% evidence confidence
Mastek Ltd scores 47.2 out of 100 against the 63 companies it is compared with in IT - Software, ranking 38. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
The four contributions add to the total exactly: 14.2 + 13.8 + 12.8 + 6.4 = 47.2. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Mastek Ltd reported ₹985 Cr of revenue in the Jun 26 quarter, +7.7% year on year. That is the 11th straight quarter of year-on-year growth. Over 10 years it has compounded at 21.5% a year. The last full year, FY26, came in at ₹3,699 Cr. The last four reported quarters add to ₹3,769 Cr.
Mastek Ltd reported ₹985 Cr of revenue in the Jun 26 quarter, +7.7% year on year. That is the 11th straight quarter of year-on-year growth. Over 10 years it has compounded at 21.5% a year. The last full year, FY26, came in at ₹3,699 Cr. The last four reported quarters add to ₹3,769 Cr.
FY26 revenue came in at ₹3,699 Cr (+7.1% on the year), capping 10 years at 21.5% compound. The latest quarter (Jun 26) printed ₹985 Cr, +7.7% year on year — the 11th consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged +6.0% growth against the decade's 21.5% — the current year is running slower than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +6.0% over the last 4 quarters against +9.5%/yr over the last 8 — rolling over; TTM profit +5.0% vs +16.2%/yr — rolling over.
→ Revenue grew — did margins hold as it scaled? Next: 15.0% this quarter (+0.0 pp YoY).
Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
Mastek Ltd's operating margin is 15.0% in the Jun 26 quarter, +0.0 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 3.0% to 21.0%. The current quarter sits inside that band.
Mastek Ltd's operating margin is 15.0% in the Jun 26 quarter, +0.0 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 3.0% to 21.0%. The current quarter sits inside that band.
The latest quarter's operating margin is 15.0%, +0.0 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 3.0%–21.0%.
Why the margin moved: operating margin went +0.3 pp year on year while gross margin went +0.0 pp — the gain came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.
→ Margins held — did that reach the bottom line? Next: profit +15.2% in the latest quarter.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Mastek Ltd earned ₹106 Cr of net profit in the Jun 26 quarter, +15.2% year on year. It is the 3rd consecutive quarter of growth. Full-year FY26 profit was ₹404 Cr. The 10-year compound rate is 40.0%. That is 10.8% of the quarter's revenue. The same quarter a year earlier earned ₹92.0 Cr.
Mastek Ltd earned ₹106 Cr of net profit in the Jun 26 quarter, +15.2% year on year. It is the 3rd consecutive quarter of growth. Full-year FY26 profit was ₹404 Cr. The 10-year compound rate is 40.0%. That is 10.8% of the quarter's revenue. The same quarter a year earlier earned ₹92.0 Cr.
Jun 26 profit was ₹106 Cr, +15.2% year on year — the 3rd consecutive quarter of growth. On the full year, FY26 printed ₹404 Cr (+7.4%), and the 10-year compound rate is 40.0%.
Why profit moved: revenue contributed +7.7% and the margin +0.0 pp — the quarter was revenue-led, with the margin roughly flat.
Pace comparison, last four quarters: profit +8.8% vs revenue +6.0%. Profit and revenue are moving roughly in step.
→ Profit rose — but did the cash follow? Next: 124% of the last 3 years' profit arrived as cash.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years 124% of Mastek Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹542 Cr of operating cash against ₹404 Cr of profit. After ₹194 Cr of capital spending, ₹348 Cr was left as free cash.
FY26: operating cash of ₹542 Cr against reported profit of ₹404 Cr, leaving free cash of ₹348 Cr after ₹194 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 124% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
Why conversion sits at 124%: the cash cycle tightened 22 days between FY21 and FY26 — cash that used to wait in the cycle now reaches the bank sooner.
Router verdict: the bigger cash user is investment — capital spending ran 1.8× depreciation over three years, so the next section's job is to check what that build-out is buying.
→ So follow the cash to where it goes. Next: ₹432 Cr of building over 3 years.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
Mastek Ltd's cash conversion cycle runs 57 days in FY26, down from 79 days in FY21. Capital spending ran ₹432 Cr over the last 3 years. At FY26 sales of ₹3,699 Cr each day of that cycle holds about ₹10.1 Cr, so roughly ₹578 Cr sits inside the business at any moment.
FY26: debtors at 57 days (an asset-light business — no inventory to speak of) — for a full cycle of 57 days, tighter than FY21's 79.
In money terms: at FY26 sales of ₹3,699 Cr, each day of the cycle holds about ₹10.1 Cr — so the 57-day loop keeps roughly ₹578 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹432 Cr over the last 3 fiscal years against ₹238 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹2.0 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.
→ Does all this activity actually earn its cost of capital? Next: ROCE is 18%.
Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.
Mastek Ltd earns a ROCE of 18% in FY26. That is up from a trough of 3% in FY16. A return-on-invested-capital spread against the cost of capital is not computable from what is held here. The wiring behind it is 10.9% net margin on 0.86× asset turns.
FY26 ROCE is 18%, recovered from a FY16 trough of 3% — the full ladder below shows the fall and the climb, undoctored.
Why the return is what it is — the wiring (FY26): 10.9% net margin × 0.86× asset turns × 1.44× balance-sheet leverage ≈ 13.5% on equity. Margin does its share; leverage is modest — this is an earned return, not a borrowed one.
The quarterly return curves and the return-on-invested-capital overlay, which only the second data source carries, are not drawn on this page: its two data sources disagree by up to 4.6% on reported income across 14 comparable periods. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.
→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 0.15.
Debt Debt-to-equity says how much of the business is funded by borrowings; interest cover says how many times operating profit pays the interest bill. Low and high, respectively, is the safe corner.
Mastek Ltd carries ₹438 Cr of borrowings against ₹2,992 Cr of equity in FY26, a debt-to-equity of 0.15. Operating profit covers the interest bill 18×. Over 5 years borrowings went from ₹273 Cr to ₹438 Cr. Capital spending ran ₹432 Cr across the last 3 of those years.
FY26: borrowings of ₹438 Cr against equity of ₹2,992 Cr — a debt-to-equity of 0.15. Operating profit covers the interest bill 18×. Over 5 years borrowings went from ₹273 Cr to ₹438 Cr while capital spending ran ₹432 Cr in just the last 3 — part of the build-out is riding on borrowed money.
The total-debt and debt-to-equity series, which only the second data source carries, are not drawn on this page: its two data sources disagree by up to 4.6% on reported income across 14 comparable periods. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.
→ Who owns this, and are they adding or leaving? Next: Domestic institutions added 12.8 points over 8 quarters.
Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.
Domestic institutions added 12.8 points of Mastek Ltd over 8 quarters, the biggest move on the register. That takes domestic institutions to 19.9% of the company. Foreign institutions moved −6.6 points over the same window, to 7.5%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Domestic institutions: +12.8 points over 8 quarters to 19.9%; Foreign institutions: −6.6 points over 8 quarters to 7.5%; Promoters: −0.5 points over 8 quarters to 35.8%.
Why the register moved: rotation — foreign institutions −6.6 points against domestic institutions +12.8 points over 8 quarters, with promoters −0.5 points — one class of institutions handing the register to the other, not a verdict change by the people closest to the numbers.
→ One last check: does the safety math agree? Next: the balance-sheet safety line.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
Mastek Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.
The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.
| Company | P/E | Mkt cap | Revenue | EPS | ROCE | Stage |
|---|---|---|---|---|---|---|
| Mastek Ltd this page | 12.0× | ₹5,242 Cr | Consistent | |||
| Tata Consultancy Services Ltd | 15.2× | ₹8.2L Cr | Consistent | |||
| Infosys Ltd | 13.6× | ₹4.2L Cr | Consistent | |||
| HCL Technologies Ltd | 19.0× | ₹3.4L Cr | Mixed | |||
| Wipro Ltd | 13.3× | ₹1.8L Cr | Topping out | |||
| Tech Mahindra Ltd | 28.7× | ₹1.5L Cr | Topping out | |||
| LTM Ltd | 21.6× | ₹1.2L Cr | Consistent | |||
| Coforge Ltd | 40.0× | ₹65,726 Cr | Mixed | |||
| Mphasis Ltd | 22.6× | ₹43,674 Cr | Consistent | |||
| Hexaware Technologies Ltd | 23.0× | ₹33,719 Cr | No read | |||
| IDream Film Infrastructure Company Ltd | — | ₹17,180 Cr | No read | |||
| Zensar Technologies Ltd | 15.1× | ₹11,511 Cr | Turning around | |||
| Sonata Software Ltd | 15.8× | ₹8,079 Cr | Mixed | |||
| Tanla Platforms Ltd | 14.9× | ₹7,954 Cr | Turning around | |||
| Birlasoft Ltd | 14.8× | ₹7,896 Cr | Turning around | |||
| Seshaasai Technologies Ltd | 23.6× | ₹6,221 Cr | No read | |||
| ASM Technologies Ltd | 103.0× | ₹6,206 Cr | No read | |||
| AvenuesAI Ltd | 20.2× | ₹5,700 Cr | Mixed | |||
| Datamatics Global Services Ltd | 20.3× | ₹4,856 Cr | Topping out | |||
| Aurionpro Solutions Ltd | 21.0× | ₹4,562 Cr | Mixed | |||
| Moschip Technologies Ltd | 141.0× | ₹4,508 Cr | Mixed | |||
| Capillary Technologies India Ltd | 128.0× | ₹3,790 Cr | — | — | — | — |
| TechNVision Ventures Ltd | 984.0× | ₹3,563 Cr | No read | |||
| Cigniti Technologies Ltd | 11.4× | ₹3,472 Cr | Mixed | |||
| 63 Moons Technologies Ltd | — | ₹3,264 Cr | No read | |||
| ASM Technologies Ltd | 52.8× | ₹3,220 Cr | No read | |||
| TechNVision Ventures Ltd | 14,485.0× | ₹3,187 Cr | No read | |||
| R Systems International Ltd | 12.6× | ₹2,909 Cr | Turning around | |||
| Sasken Technologies Ltd | 48.1× | ₹2,765 Cr | Improving | |||
| BLS E-Services Ltd | 44.6× | ₹2,565 Cr | Mixed | |||
| Silver Touch Technologies Ltd | 71.0× | ₹2,538 Cr | Turning around | |||
| Saksoft Ltd | 16.3× | ₹2,231 Cr | Mixed | |||
| Blue Cloud Softech Solutions Ltd | 31.2× | ₹1,889 Cr | Mixed | |||
| Hypersoft Technologies Ltd | 440.0× | ₹1,798 Cr | No read | |||
| Kody Technolab Ltd | 104.0× | ₹1,748 Cr | — | — | — | — |
| IZMO Ltd | 34.8× | ₹1,653 Cr | Improving | |||
| NINtec Systems Ltd | 50.3× | ₹1,610 Cr | Mixed | |||
| Dynacons Systems & Solutions Ltd | 18.6× | ₹1,580 Cr | Mixed | |||
| Magellanic Cloud Ltd | 13.6× | ₹1,568 Cr | Mixed | |||
| InfoBeans Technologies Ltd | 18.0× | ₹1,526 Cr | Mixed |
Frequently asked questions
What is Mastek Ltd's share price today?
Mastek Ltd trades at ₹1,773, −28.9% over the past year. The company is valued at ₹5,242 Cr. The stock sits at 36% of its 52-week range of ₹1,398–₹2,453, −4.3% versus its 200-day average. On the tape, the price is in a downtrend, 43 weeks in. — as of 24 July 2026.
What were Mastek Ltd's latest quarterly results?
Mastek Ltd reported revenue of ₹985 Cr and net profit of ₹106 Cr for the Jun 26 quarter. Revenue rose 7.7% and profit rose 15.2% year on year. Earnings per share were ₹34.15. The operating margin was 15.0%, 0.0 pp higher than a year earlier. — as of 24 July 2026.
What is Mastek Ltd's revenue?
Mastek Ltd reported revenue of ₹985 Cr in the Jun 26 quarter, +7.7% year on year. For the full FY26 fiscal year, revenue was ₹3,699 Cr (+7.1%). Over the last 10 years revenue compounded at 21.5% a year. — as of 24 July 2026.
What is Mastek Ltd's profit?
Mastek Ltd earned ₹106 Cr of net profit in the Jun 26 quarter, +15.2% year on year — the 3rd straight quarter of growth. Full-year FY26 profit was ₹404 Cr. The operating margin ran 15.0% in the latest quarter. — as of 24 July 2026.
What is Mastek Ltd's market cap?
Mastek Ltd's market capitalisation is ₹5,242 Cr at a share price of ₹1,773. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 24 July 2026.
What is Mastek Ltd's P/E ratio?
Mastek Ltd trades at a P/E of 12.0×, at the 19th percentile of its own 10-year range, against a long-run median of 17.9×. This is a comparison with the stock's own history, not a value call — as of 24 July 2026.
Does Mastek Ltd pay a dividend?
Yes — Mastek Ltd's dividend payout was 18% of profit in FY26, and it recorded a payout in each of its last 13 reported fiscal years. This page holds the payout ratio, not a per-share amount. — as of 24 July 2026.
Is Mastek Ltd overvalued?
On its own history, Mastek Ltd looks cheap against its own history: its P/E of 12.0× has been cheaper only 19% of the time in 10 years (long-run median 17.9×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 24 July 2026.
Is Mastek Ltd growing?
Yes — Mastek Ltd is growing: latest-quarter revenue +7.7% year on year, profit +15.2%, and the margin +0.0 pp at 15.0%. The 10-year compound rates are 21.5% (revenue) and 40.0% (profit). The earnings engine currently reads: improving — as of 24 July 2026.
How is Mastek Ltd performing?
Mastek Ltd is in a downtrend, 43 weeks in. Its latest quarter's revenue rose 7.7% and profit rose 15.2% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 1 week. This describes what the data did, not a rating. — as of 24 July 2026.
What stage is Mastek Ltd in?
Consistent — revenue, profit and EPS growth have stayed positive through the window, with ROCE at 18.0% and holding. The read comes from the last 12 quarters of growth (revenue growth +6.0% latest, profit growth +5.0% latest, eps growth +5.1% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 24 July 2026.
Is Mastek Ltd in an uptrend?
No — the price is in a downtrend (week 43 of stage 4), trading −4.3% versus its 200-day average and at 36% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 24 July 2026.
Is Mastek Ltd beating the market?
On recent form, yes — Mastek Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 1 straight week, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.3 years the stock moved +1,388% against the NIFTY 500's +274% — ahead of the index over the full window. — as of 24 July 2026.
Will Mastek Ltd's share price go up?
This page publishes no price forecast for Mastek Ltd. What it measures instead: the share price is ₹1,773, the price is in a downtrend 43 weeks in. Its P/E of 12.0× sits at the 19th percentile of its own 10-year range. Direction is not something this site claims to know. — as of 24 July 2026.
Who owns Mastek Ltd?
Promoters hold 35.8% of Mastek Ltd, foreign institutions 7.5%, domestic institutions 19.9% and the public 36.9% (latest quarter). The biggest move on the register over the last two years: Domestic institutions added 12.8 points over 8 quarters. — as of 24 July 2026.
Does Mastek Ltd have too much debt?
No — Mastek Ltd's debt-to-equity is 0.15, and operating profit covers the interest bill 18×. FY26 borrowings were ₹438 Cr against equity of ₹2,992 Cr. The returns on this page are earned, not borrowed — as of 24 July 2026.
What is Mastek Ltd's capex?
Mastek Ltd spent ₹432 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹194 Cr, with ₹2.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 24 July 2026.
What is Mastek Ltd's cash flow?
Mastek Ltd generated ₹542 Cr of operating cash flow in FY26 and ₹348 Cr of free cash flow after ₹194 Cr of capital spending. Reported profit that year was ₹404 Cr, so operating cash ran ahead of profit. Cash-flow resolution for India is annual. — as of 24 July 2026.
Is Mastek Ltd's profit real cash?
Yes — over the last 3 fiscal years, 124% of Mastek Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹542 Cr against reported profit of ₹404 Cr. The cash then goes mostly into building capacity. Cash-flow resolution is annual — as of 24 July 2026.
Where is Mastek Ltd in its business cycle?
Mastek Ltd's FY26 operating margin was 16.0%, against a 13-year band of 3.0%–21.0%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 15.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 24 July 2026.
What could break the Mastek Ltd story?
The sharpest disagreement: annual EPS moved +7.3% against a −28.9% price move — the market has not yet caught up with the delivery. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 24 July 2026.
Is Mastek Ltd a stock worth studying right now?
This is not investment advice. The machine read: Mastek Ltd's earnings have outrun its stock. EPS grew +7.3% in a year against a −28.9% price move. The sharpest open question: whether the price catches up with earnings that have already moved. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 24 July 2026.