# Mastek share price today (Mastek Ltd, NSE: MASTEK)

> Mastek share price today: ₹1,458.30 at the NSE close on 3 November 2026, down 31.8% in a year. Mastek (NSE: MASTEK) is worth ₹4,521 crore, trades at a P/E of 10.3 and has closed between ₹1,397.60 and ₹2,268.80 over the past 52 weeks. > Mastek Ltd's earnings have grown faster than its share price. Earnings per share grew +7.3% in a year while the price moved −31.8%. MASTEK · IT - Software · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/mastek-ltd

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## Key numbers

- Business trend: Growing steadily, from the last 12 quarters
- Price: ₹1,458.30 (−31.8% in a year)
- P/E: 10.3× (lower than 90% of the last 11 years)
- Revenue (Sep 2026): ₹1,019 Cr (+8.4% on a year ago)
- Profit (Sep 2026): ₹106 Cr (+9.3% on a year ago)
- Operating margin: 14.0% (−2.0 points on a year ago)
- ROCE: 18%, FY26
- ROIC: 16.1%, against a 12.0% cost of capital: +4.1 points

The main question: yearly earnings per share moved +7.3% while the share price moved −31.8%. ## What is the Mastek share price today? Mastek Ltd's share price was ₹1,458.30 at the close on 3 November 2026. It has been falling for 58 weeks. That is 17.6% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹1,398 and ₹2,269, and at that close it sat 7% of the way up from that low. Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 2 weeks running. Over the last 11 years the share price moved +1,124% while the NIFTY 500 moved +251%, so it is ahead of the index over that whole period. It was last ahead over 13 weeks in the week of 23 October 2026. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at Mastek this quarter? Three changes stood out: indian funds and insurers (DIIs) raised their stake for 7 quarters in a row, revenue up on a year earlier for 12 quarters in a row (every quarter we can compare) and lowest operating margin in 16 quarters. 1. Indian funds and insurers (DIIs) raised their stake for 7 quarters in a row From 9.3% to 22% of the company by the September 2026 quarter. 2. Revenue up on a year earlier for 12 quarters in a row (every quarter we can compare) In the September 2026 quarter revenue was ₹1,019 crore, +8.4% on a year earlier. Why: Revenue rose because the UK business grew on strong financial services work, including data work for the Bank of England and peers. Next results: check whether delayed North America work starts bringing in money in the second half, as management expects. From the earnings call on 26 Oct 2026. 3. Lowest operating margin in 16 quarters Operating margin was 14% in the September 2026 quarter, against 16% a year earlier. Why: Margins fell because staff increments and employee share scheme costs rose, and because more work was lower-margin onsite security-cleared work. Next results: check whether operating margin rises from the September quarter through better mix and cost efficiency, as management expects. From the earnings call on 26 Oct 2026. ## What are Mastek's latest quarterly results? For July to September 2026 (the quarter ended 30 September 2026), Mastek reported revenue of ₹1,019 crore, up 8.4% from ₹940 crore a year earlier, and a profit of ₹106 crore, up 9.3% from ₹97.0 crore. ### Mastek results: July to September 2026 against a year earlier

| Measure | July to September 2026 | July to September 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹1,019 crore | ₹940 crore | +8.4% |
| Profit | ₹106 crore | ₹97.0 crore | +9.3% |
| Earnings per share | ₹34.08 | ₹31.46 | +8.3% |
| Operating margin | 14.0% | 16.0% | −2.0 points |

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). Mastek's management discussed these results on a call held on 26 October 2026; what it said is further down this page. (From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.)

## What is the Mastek share price history? Mastek closed at ₹1,458.30 on 3 November 2026, down 31.8% from ₹2,139.60 a year earlier (31 October 2025) and down 48.5% over five years. Its highest weekly close since March 2016 was ₹3,313.70 on 1 April 2022. ### Mastek share price: then and now

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹1,763.55 | −17.3% |
| 1 month ago · 1 Oct 2026 | ₹1,556.10 | −6.3% |
| 6 months ago · 30 Apr 2026 | ₹1,694.20 | −13.9% |
| 1 year ago · 31 Oct 2025 | ₹2,139.60 | −31.8% |
| 3 years ago · 3 Nov 2023 | ₹2,235.40 | −34.8% |
| 5 years ago · 4 Nov 2021 | ₹2,833.85 | −48.5% |
| 10 years ago · 4 Nov 2016 | ₹146.00 | +898.8% |
| Earliest weekly close in our records · 11 Mar 2016 | ₹119.15 | +1,123.9% |
| Highest weekly close since March 2016 · 1 Apr 2022 | ₹3,313.70 | −56.0% |
| Lowest weekly close since March 2016 · 30 Sep 2016 | ₹111.35 | +1,209.7% |
| 52-week high (weekly close) · 21 Nov 2025 | ₹2,268.80 | −35.7% |
| 52-week low (weekly close) · 27 Mar 2026 | ₹1,397.60 | +4.3% |

Weekly closing prices. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (563 weekly closes from 11 March 2016 to 3 November 2026.)

## What is the latest news on Mastek? 3 Nov 2026: Mastek closed at ₹1,458.30, down 17.3% on the week and down 6.3% on the month. 26 Oct 2026: Mastek held its results call for July to September 2026. Management guided: Operating profit uplift at least 160 basis points from Q2 base over medium term on internal repair. ### Earlier

- Results for July to September 2026: Revenue up 8.4% and profit up 9.3% on a year earlier. - 31 Aug 2026: ex-date for a dividend of ₹16 a share. - 30 Jan 2026: ex-date for an interim dividend of ₹8 a share. ## What dividend does Mastek pay? Mastek paid ₹24 a share in regular dividends in the 12 months to 4 November 2026 (2 payments), a yield of 1.65% at the ₹1,458.30 close on 3 November 2026. The last was a dividend of ₹16 a share, ex-date 31 August 2026. ### Mastek dividends since 1 April 2021

| Ex-date | Dividend per share | Type | Record date |
| --- | --- | --- | --- |
| 31 Aug 2026 | ₹16 | Dividend | same day |
| 30 Jan 2026 | ₹8 | Interim | same day |
| 12 Sep 2025 | ₹16 | Dividend | same day |
| 24 Jan 2025 | ₹7 | Interim | same day |
| 17 Sep 2024 | ₹12 | Dividend | 18 Sep 2024 |
| 25 Jan 2024 | ₹7 | Interim | 27 Jan 2024 |
| 18 Sep 2023 | ₹12 | Dividend | n/a |
| 1 Feb 2023 | ₹7 | Interim | same day |
| 8 Sep 2022 | ₹12 | Dividend | n/a |
| 31 Jan 2022 | ₹7 | Interim | 1 Feb 2022 |
| 23 Sep 2021 | ₹9 | Dividend | n/a |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. 5 of 5 Of the last 5 financial years, years with an NSE dividend record

Yes. Mastek Ltd paid out 18% of its profit as dividends in FY26, and it paid a dividend in each of its last 13 reported years. (From the NSE corporate-actions record, read 4 November 2026.)

## What did Mastek management say on the latest results call? On the call for July to September 2026, held on 26 October 2026, Mastek's management guided: Operating profit uplift at least 160 basis points from Q2 base over medium term on internal repair. > “We are clearly taking a very aggressive, forward-looking 3-year bet on delivering anywhere between 35% and 60-70% productivity on some of our traditional IT services.”
> Deepak Kedia, on the call for July to September 2026

### What management guided

- FY27 revenue to exceed FY26 with H2 stronger than H1 despite Middle East drag. - North America meaningful growth turnaround starting H2 on built backlog and AI base. - United States and Middle East geo margins to improve from Q3 aiding recovery. - Right-shifted healthcare orders to convert in H2 with beta ramps in Q3 to early Q4. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijorifinance.com/insight/india/2521/Conference Call/CC-Oct26.pdf). (From the call for July to September 2026, 26 October 2026.)

## What to watch in Mastek's next results? When Mastek reports October to December 2026, these are the 4 checks that show whether the story is still on course. First: Healthcare beta awards to convert from Q3 to early Q4 per flagged timeline - check vertical growth rebound. - What to check (from the call)
- Healthcare beta awards to convert from Q3 to early Q4 per flagged timeline - check vertical growth rebound. - North America backlog to translate into revenue from H2 per turnaround claim - check sequential growth delivery. - Operating margin to lift from Q2 base at flagged pace on mix and efficiency repair - check Q3 progress. - United Kingdom stalled orders to relaunch after budget clarity - check backlog normalisation and large-bid advance. ## Which stock lists is Mastek on? Mastek is on 3 of our India lists: Dividend stocks, AI & data centre stocks and IT stocks. - [Dividend stocks Regular dividend yield (%): 1.64](https://www.sectoralpha.in/dividend-stocks-india)
- [AI & data centre stocks Group on the list: AI services revenue](https://www.sectoralpha.in/ai-stocks-india)
- [IT stocks Market value (₹ crore): 4549.592613318411](https://www.sectoralpha.in/sectors/it-stocks-india)

## Is Mastek profitable? Mastek Ltd earned ₹106 Cr of net profit in the Sep 2026 quarter, +9.3% on the same quarter a year earlier. That is the 4th quarter in a row of profit growth. Full-year FY26 profit was ₹404 Cr. Over 10 years profit has grown 40.0% a year on average. That is 10.4% of the quarter's revenue. The same quarter a year earlier earned ₹97.0 Cr. For the full year, FY26 profit was ₹404 Cr (+7.4% on the year before). Why profit moved: revenue changed +8.4% on a year earlier and the margin moved −2.0 percentage points. Sales did the work while the margin got thinner. On average over the last four quarters, profit changed +17.3% and revenue +5.9%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit. ## How much revenue does Mastek make, and is it growing? Mastek Ltd reported ₹1,019 Cr of revenue in the Sep 2026 quarter, +8.4% on the same quarter a year earlier. That is the 12th quarter in a row with growth on the year before. Over 10 years it has grown 21.5% a year on average. The last full year, FY26, came in at ₹3,699 Cr. The last four reported quarters add to ₹3,848 Cr. FY26 revenue was ₹3,699 Cr, +7.1% on the year before. Recent pace: the last four quarters grew +5.9% on average, against 21.5% a year over the longer run, so this year is growing slower than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +6.0%, against +8.9% a year over the last 8 quarters (stabilising); profit over the last 12 months grew +16.7%, against +6.9% a year (accelerating). ## How much of every ₹100 of sales does Mastek keep? Mastek Ltd's operating margin was 14.0% in the Sep 2026 quarter, 2.0 percentage points lower than the same quarter a year ago. Across 13 years it has been between 3.5% and 21.0%. The latest quarter is within that range. Why the margin moved: operating margin changed −1.2 percentage points on the year while gross margin changed +0.0 points. So the drop came mostly from costs below the gross margin, such as staff and overheads, measured against sales. ## Is Mastek's profit turning into cash? Over the last 3 years, 124% of Mastek Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹542 Cr of operating cash against ₹404 Cr of profit. After ₹193 Cr of spending on assets, ₹349 Cr was left over as free cash. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 124% of profit came in as cash: the cash cycle got 22 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner. What to look at next: the bigger use of cash is spending on new assets, at 1.8× depreciation over three years. The next section checks what that spending is building. ## Where does Mastek's cash go? Mastek Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 57 days in FY26, down from 79 days in FY21. It spent ₹431 Cr on assets over the last 3 years. At FY26 sales of ₹3,699 Cr, each day of that cycle ties up about ₹10.1 Cr, so roughly ₹578 Cr is tied up in the business at any time. Spending on assets: ₹431 Cr over the last 3 years, against ₹238 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹2.0 Cr (FY26): assets paid for that are not earning yet. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is Mastek's P/E ratio, and how does it compare with its own history? Mastek Ltd's P/E is 10.3×, near the low end of its own history: it has been lower only 10% of the time. Its usual P/E (the middle reading) is 17.8×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Sep 2026 add up to ₹137.43. Why the multiple is where it is: over the past year earnings per share moved +7.3% while the price moved −31.8%. Earnings did better than the price, which pulled the multiple down within its own range. Where the price move came from: over 5 years the price moved −12.4% a year; about +10.1% a year came from earnings growth and about −22.5 percentage points from the multiple (the market paying less); over 10 years the price moved +25.9% a year; about +35.2% a year came from earnings growth and about −9.3 percentage points from the multiple (the market paying less). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is low against its own past, so the earnings trend underneath matters more than the multiple. ## Is the Mastek business getting better or worse? Mastek Ltd's business is growing steadily. Revenue, profit and EPS growth have stayed positive throughout, and ROCE is steady at 17.7%. This is based on 12 quarters of 4 measures. Why it matters: steady growth with healthy returns is how a business compounds over time. ## How much does Mastek earn on its capital? Mastek Ltd earned a ROCE of 18% in FY26. That is up from a low of 3% in FY16. Its return on capital used (ROIC) is 4.1 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 10.9% net margin and 0.86× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 10.9% net margin × 0.86× asset turnover × 1.43× leverage (assets divided by equity) ≈ 13.4% on equity. The margin does its share; borrowing plays a small part, so this return is earned, not borrowed. The key test, return on capital used minus the cost of capital: 16.1% − 12.0% = +4.1 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Positive but thin: it creates value with little room for error. ## Does Mastek have too much debt? Mastek Ltd has total debt of ₹379 Cr against shareholder equity of ₹3,189 Cr as of Sep 2026, so its debt is 0.12× its equity, which is very little. Year by year, that ratio went from 0.17 in FY22 to 0.15 in FY26. So the returns on this page come from the business, not from borrowed money. ## What is the Mastek shareholding pattern? Domestic institutions raised their stake in Mastek Ltd by 11.6 percentage points over 8 quarters, the biggest change among its owners. Domestic institutions now own 22.0% of the company. Foreign institutions moved −2.2 points over the same period, to 5.9%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Domestic institutions: +11.6 points over 8 quarters, to 22.0%; Foreign institutions: −2.2 points over 8 quarters, to 5.9%; Promoters: −0.5 points over 8 quarters, to 35.8%. Why the owners changed: foreign institutions moved −2.2 points and domestic institutions +11.6 points over 8 quarters, while promoters moved −0.5 points. One group of institutions took over shares from the other; it is not a change of mind by the people running the company. ## How far is Mastek from balance-sheet trouble? For Mastek Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does Mastek rank in its industry? 47.1 out of 100, rank 42 of 69 in IT - Software, with 100% of the evidence available. Mastek Ltd scores 47.1 out of 100 against the 69 companies it is compared with in IT - Software, ranking 42. The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. The four parts add up to the total exactly: 13.3 + 14.8 + 15.8 + 3.2 = 47.1. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Mastek compared with? Mastek ranks 42 of 69 IT - Software companies on the 4-Factor Sector Score, with 47.1 out of 100. 1. [Coforge Ltd](https://www.sectoralpha.in/stocks/coforge-ltd) COFORGE · leader · Most evidence points up · 100% evidence 69.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.4/35 · Revenue 41.5% · Profit 56.3% · Operating margin change 1 points · 100% evidence Capital efficiency 16.5/25 · ROCE 23.5% · Operating margin 20% · 100% evidence Valuation 11.3/20 · P/E 41.7× · PEG 0.57 · 100% evidence Relative strength 18.5/20 · Lead over its industry 24.5% · Lead over NIFTY 500 35.5% · 1 year 15% · 100% evidence · 12 of 12 weeks ahead Exact sum: 23.4 + 16.5 + 11.3 + 18.5 = 69.7 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 2. [Expleo Solutions Ltd](https://www.sectoralpha.in/stocks/expleo-solutions-ltd) EXPLEOSOL · breaking out · Most evidence points up · 81% evidence 68.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.6/35 · Revenue 10.4% · Profit 39.4% · Operating margin change 4 points · 88% evidence Capital efficiency 15.4/25 · ROCE 24.2% · Operating margin 15% · 100% evidence Valuation 18.7/20 · P/E 8.5× · PEG 0.33 · 100% evidence Relative strength 9.6/20 · Lead over its industry n/a · Lead over NIFTY 500 -2.7% · 1 year -20.7% · 25% evidence · 8 of 12 weeks ahead Exact sum: 24.6 + 15.4 + 18.7 + 9.6 = 68.3 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 3. [Cigniti Technologies Ltd](https://www.sectoralpha.in/stocks/cigniti-technologies-ltd) CIGNITITEC · Too little evidence to rank firmly · 55% evidence 68.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 27.8/43.75 · Revenue 14% · Profit 96.1% · Operating margin change 2 points · 47% evidence Capital efficiency 20.9/31.25 · ROCE 34.1% · Operating margin 18% · 75% evidence Valuation 19.5/25 · P/E 11.4× · PEG 0.74 · 100% evidence Relative strength: no reading this week · its 20 points are shared across the other three Exact sum: 27.8 + 20.9 + 19.5 = 68.2 (no relative-strength reading this week; its 20 points are shared across the other three) · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 4. [Metalic Technoforge Ltd](https://www.sectoralpha.in/stocks/metalic-technoforge-ltd) META · turning · Too little evidence to rank firmly · 51% evidence 67.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 32.8/43.75 · Revenue 100% · Profit 100% · Operating margin change 0 points · 83% evidence Capital efficiency 20.2/31.25 · ROCE 44% · Operating margin 11% · 76% evidence Valuation 14.3/25 · P/E 6.6× · PEG n/a · 15% evidence Relative strength: no reading this week · its 20 points are shared across the other three Exact sum: 32.8 + 20.2 + 14.3 = 67.3 (no relative-strength reading this week; its 20 points are shared across the other three) · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 5. [Sahana Systems Ltd](https://www.sectoralpha.in/stocks/sahana-systems-ltd) SAHANA · leader · Too little evidence to rank firmly · 54% evidence 66.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 18.4/35 · Revenue 100% · Profit 100% · Operating margin change -3 points · 27% evidence Capital efficiency 18.4/25 · ROCE 39.8% · Operating margin 29% · 57% evidence Valuation 12.0/20 · P/E 14.5× · PEG n/a · 50% evidence Relative strength 17.2/20 · Lead over its industry 12.3% · Lead over NIFTY 500 22.7% · 1 year 5.7% · 100% evidence · 12 of 12 weeks ahead Exact sum: 18.4 + 18.4 + 12 + 17.2 = 66 · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 6. [Silver Touch Technologies Ltd](https://www.sectoralpha.in/stocks/silver-touch-technologies-ltd) SILVERTUC · quiet · Most evidence points up · 100% evidence 65.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 29.9/35 · Revenue 21.7% · Profit 88% · Operating margin change 5 points · 100% evidence Capital efficiency 21.3/25 · ROCE 29.8% · Operating margin 21% · 100% evidence Valuation 11.2/20 · P/E 31.6× · PEG 1.11 · 100% evidence Relative strength 3.0/20 · Lead over its industry -21.7% · Lead over NIFTY 500 -13.9% · 1 year 52.9% · 100% evidence · 2 of 12 weeks ahead Exact sum: 29.9 + 21.3 + 11.2 + 3 = 65.4 · What this means: Earnings are strong; relative strength in its sector is -21.7% and the one-year return is 52.9%. 7. [NINtec Systems Ltd](https://www.sectoralpha.in/stocks/nintec-systems-ltd) NINSYS · turning · Most evidence points up · 93% evidence 65.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 18.2/35 · Revenue 18.8% · Profit 23.3% · Operating margin change 2 points · 100% evidence Capital efficiency 22.4/25 · ROCE 54% · Operating margin 27% · 100% evidence Valuation 6.6/20 · P/E 48.1× · PEG 2.08 · 65% evidence Relative strength 18.2/20 · Lead over its industry 57.5% · Lead over NIFTY 500 70.4% · 1 year 113.7% · 100% evidence · 4 of 12 weeks ahead Exact sum: 18.2 + 22.4 + 6.6 + 18.2 = 65.4 · What this means: A strong business with a high valuation: it would need rising earnings, or a lower multiple, to score better on value. 8. [Unified Data- Tech Solutions Ltd](https://www.sectoralpha.in/stocks/unified-data-tech-solutions-ltd) breaking out · Too little evidence to rank firmly · 56% evidence 63.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 17.0/35 · Revenue n/a · Profit n/a · Operating margin change 2 points · 26% evidence Capital efficiency 18.4/25 · ROCE 34.1% · Operating margin 15% · 95% evidence Valuation 10.2/20 · P/E 17.3× · PEG n/a · 15% evidence Relative strength 17.8/20 · Lead over its industry 11.5% · Lead over NIFTY 500 22% · 1 year -7.6% · 100% evidence · 8 of 12 weeks ahead Exact sum: 17 + 18.4 + 10.2 + 17.8 = 63.4 · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 9. [ASM Technologies Ltd](https://www.sectoralpha.in/stocks/asm-technologies-ltd) leader · Evidence leans up · 61% evidence 63.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 26.1/35 · Revenue 67.8% · Profit 89.5% · Operating margin change 2 points · 83% evidence Capital efficiency 16.0/25 · ROCE 27% · Operating margin 23% · 95% evidence Valuation 8.7/20 · P/E 124× · PEG n/a · 15% evidence Relative strength 12.3/20 · Lead over its industry n/a · Lead over NIFTY 500 66.2% · 1 year 78.6% · 25% evidence · 12 of 12 weeks ahead Exact sum: 26.1 + 16 + 8.7 + 12.3 = 63.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 10. [Tanla Platforms Ltd](https://www.sectoralpha.in/stocks/tanla-platforms-ltd) TANLA · turning · Evidence leans up · 85% evidence 62.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 18.7/35 · Revenue 17.7% · Profit 15.4% · Operating margin change 0 points · 100% evidence Capital efficiency 18.4/25 · ROCE 26.3% · Operating margin 16% · 100% evidence Valuation 14.0/20 · P/E 15× · PEG 1.07 · 100% evidence Relative strength 11.7/20 · Lead over its industry n/a · Lead over NIFTY 500 26.7% · 1 year 2.8% · 25% evidence · 3 of 12 weeks ahead Exact sum: 18.7 + 18.4 + 14 + 11.7 = 62.8 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 11. [String Metaverse Ltd](https://www.sectoralpha.in/stocks/string-metaverse-ltd) breaking out · Evidence leans up · 83% evidence 62.5 out of 100 Growth Capital Valuation Relative
12. [Tech Mahindra Ltd](https://www.sectoralpha.in/stocks/tech-mahindra-ltd) TECHM · leader · Evidence leans up · 85% evidence 62.1 out of 100 Growth Capital Valuation Relative
13. [Infosys Ltd](https://www.sectoralpha.in/stocks/infosys-ltd) INFY · breaking out · Evidence leans up · 82% evidence 61.7 out of 100 Growth Capital Valuation Relative
14. [InfoBeans Technologies Ltd](https://www.sectoralpha.in/stocks/infobeans-technologies-ltd) INFOBEAN · quiet · Evidence leans up · 100% evidence 61.6 out of 100 Growth Capital Valuation Relative
15. [Zensar Technologies Ltd](https://www.sectoralpha.in/stocks/zensar-technologies-ltd) ZENSARTECH · turning · Evidence leans up · 100% evidence 61.6 out of 100 Growth Capital Valuation Relative
16. [Tata Consultancy Services Ltd](https://www.sectoralpha.in/stocks/tata-consultancy-services-ltd) TCS · breaking out · Evidence leans up · 100% evidence 60.9 out of 100 Growth Capital Valuation Relative
17. [Sasken Technologies Ltd](https://www.sectoralpha.in/stocks/sasken-technologies-ltd) SASKEN · turning · Evidence leans up · 100% evidence 60.8 out of 100 Growth Capital Valuation Relative
18. [Birlasoft Ltd](https://www.sectoralpha.in/stocks/birlasoft-ltd) BSOFT · breaking out · Evidence leans up · 100% evidence 59.6 out of 100 Growth Capital Valuation Relative
19. [Seshaasai Technologies Ltd](https://www.sectoralpha.in/stocks/seshaasai-technologies-ltd) STYL · quiet · Evidence leans up · 68% evidence 59.6 out of 100 Growth Capital Valuation Relative
20. [Xchanging Solutions Ltd](https://www.sectoralpha.in/stocks/xchanging-solutions-ltd) XCHANGING · quiet · Evidence leans up · 85% evidence 59.1 out of 100 Growth Capital Valuation Relative
21. [RNIT AI Solutions Ltd](https://www.sectoralpha.in/stocks/rnit-ai-solutions-ltd) AUTOPALIND · breaking out · Evidence leans up · 69% evidence 59.1 out of 100 Growth Capital Valuation Relative
22. [Danlaw Technologies India Ltd](https://www.sectoralpha.in/stocks/danlaw-technologies-india-ltd) breaking out · Evidence leans up · 68% evidence 58.8 out of 100 Growth Capital Valuation Relative
23. [Softtech Engineers Ltd](https://www.sectoralpha.in/stocks/softtech-engineers-ltd) SOFTTECH · breaking out · Evidence leans up · 79% evidence 58.3 out of 100 Growth Capital Valuation Relative
24. [R Systems International Ltd](https://www.sectoralpha.in/stocks/r-systems-international-ltd) RSYSTEMS · losing its lead · Evidence leans up · 96% evidence 57.1 out of 100 Growth Capital Valuation Relative
25. [HCL Technologies Ltd](https://www.sectoralpha.in/stocks/hcl-technologies-ltd) HCLTECH · leader · Evidence leans up · 82% evidence 56.7 out of 100 Growth Capital Valuation Relative
26. [Datamatics Global Services Ltd](https://www.sectoralpha.in/stocks/datamatics-global-services-ltd) DATAMATICS · quiet · Evidence leans up · 81% evidence 55.8 out of 100 Growth Capital Valuation Relative
27. [Wipro Ltd](https://www.sectoralpha.in/stocks/wipro-ltd) WIPRO · turning · Evidence leans up · 100% evidence 55.4 out of 100 Growth Capital Valuation Relative
28. [Subex Ltd](https://www.sectoralpha.in/stocks/subex-ltd) SUBEXLTD · breaking out · Evidence leans up · 64% evidence 54.2 out of 100 Growth Capital Valuation Relative
29. [Ksolves India Ltd](https://www.sectoralpha.in/stocks/ksolves-india-ltd) KSOLVES · quiet · Evidence leans up · 100% evidence 52.8 out of 100 Growth Capital Valuation Relative
30. [Capillary Technologies India Ltd](https://www.sectoralpha.in/stocks/capillary-technologies-india-ltd) CAPILLARY · breaking out · Too little evidence to rank firmly · 59% evidence 52.6 out of 100 Growth Capital Valuation Relative
31. [LTM Ltd](https://www.sectoralpha.in/stocks/ltm-ltd) LTM · losing its lead · Evidence leans up · 100% evidence 51.2 out of 100 Growth Capital Valuation Relative
32. [TechNVision Ventures Ltd](https://www.sectoralpha.in/stocks/technvision-ventures-ltd) TECHNVISN · quiet · Evidence leans up · 64% evidence 51.2 out of 100 Growth Capital Valuation Relative
33. [Saksoft Ltd](https://www.sectoralpha.in/stocks/saksoft-ltd) SAKSOFT · basing · Evidence leans up · 96% evidence 50.9 out of 100 Growth Capital Valuation Relative
34. [BLS E-Services Ltd](https://www.sectoralpha.in/stocks/bls-e-services-ltd) BLSE · leader · Evidence leans up · 78% evidence 50.5 out of 100 Growth Capital Valuation Relative
35. [Mphasis Ltd](https://www.sectoralpha.in/stocks/mphasis-ltd) MPHASIS · breaking out · Evidence leans up · 81% evidence 50.4 out of 100 Growth Capital Valuation Relative
36. [Excelsoft Technologies Ltd](https://www.sectoralpha.in/stocks/excelsoft-technologies-ltd) EXCELSOFT · breaking out · Too little evidence to rank firmly · 59% evidence 50.3 out of 100 Growth Capital Valuation Relative
37. [Blue Cloud Softech Solutions Ltd](https://www.sectoralpha.in/stocks/blue-cloud-softech-solutions-ltd) BLUECLOUDS · turning · Evidence leans down · 64% evidence 49.9 out of 100 Growth Capital Valuation Relative
38. [ACS Technologies Ltd](https://www.sectoralpha.in/stocks/acs-technologies-ltd) ACSTECH · Evidence leans down · 74% evidence 49.5 out of 100 Growth Capital Valuation Relative
39. [Magellanic Cloud Ltd](https://www.sectoralpha.in/stocks/magellanic-cloud-ltd) MCLOUD · basing · Evidence leans down · 81% evidence 49.2 out of 100 Growth Capital Valuation Relative
40. [Dynacons Systems & Solutions Ltd](https://www.sectoralpha.in/stocks/dynacons-systems-solutions-ltd) DSSL · quiet · Evidence leans down · 96% evidence 48.6 out of 100 Growth Capital Valuation Relative
41. [IZMO Ltd](https://www.sectoralpha.in/stocks/izmo-ltd) IZMO · quiet · Evidence leans down · 81% evidence 48.0 out of 100 Growth Capital Valuation Relative
42. Mastek Ltd this page MASTEK · quiet · Evidence leans down · 100% evidence 47.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 13.3/35 · Revenue 6% · Profit 16.7% · Operating margin change -2 points · 100% evidence Capital efficiency 14.8/25 · ROCE 17.7% · Operating margin 14% · 100% evidence Valuation 15.8/20 · P/E 10.1× · PEG 0.96 · 100% evidence Relative strength 3.2/20 · Lead over its industry -23.1% · Lead over NIFTY 500 -15.7% · 1 year -33.2% · 100% evidence · 6 of 12 weeks ahead Exact sum: 13.3 + 14.8 + 15.8 + 3.2 = 47.1 · What this means: The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. 43. [Sonata Software Ltd](https://www.sectoralpha.in/stocks/sonata-software-ltd) SONATSOFTW · quiet · Evidence leans down · 96% evidence 46.9 out of 100 Growth Capital Valuation Relative
44. [AvenuesAI Ltd](https://www.sectoralpha.in/stocks/avenuesai-ltd) CCAVENUE · quiet · Evidence leans down · 89% evidence 44.8 out of 100 Growth Capital Valuation Relative
45. [Unicommerce eSolutions Ltd](https://www.sectoralpha.in/stocks/unicommerce-esolutions-ltd) UNIECOM · turning · Evidence leans down · 78% evidence 44.6 out of 100 Growth Capital Valuation Relative
46. [Hexaware Technologies Ltd](https://www.sectoralpha.in/stocks/hexaware-technologies-ltd) HEXT · basing · Evidence leans down · 85% evidence 42.0 out of 100 Growth Capital Valuation Relative
47. [Allied Digital Services Ltd](https://www.sectoralpha.in/stocks/allied-digital-services-ltd) ADSL · basing · Evidence leans down · 74% evidence 41.1 out of 100 Growth Capital Valuation Relative
48. [Hypersoft Technologies Ltd](https://www.sectoralpha.in/stocks/hypersoft-technologies-ltd) quiet · Evidence leans down · 80% evidence 40.9 out of 100 Growth Capital Valuation Relative
49. [Kellton Tech Solutions Ltd](https://www.sectoralpha.in/stocks/kellton-tech-solutions-ltd) KELLTONTEC · quiet · Evidence leans down · 96% evidence 39.0 out of 100 Growth Capital Valuation Relative
50. [3i Infotech Ltd](https://www.sectoralpha.in/stocks/3i-infotech-ltd) 3IINFOLTD · Too little evidence to rank firmly · 58% evidence 38.9 out of 100 Growth Capital Valuation Relative
51. [Innovana Thinklabs Ltd](https://www.sectoralpha.in/stocks/innovana-thinklabs-ltd) INNOVANA · basing · Evidence leans down · 81% evidence 37.6 out of 100 Growth Capital Valuation Relative
52. [Mindteck (India) Ltd](https://www.sectoralpha.in/stocks/mindteck-indialtd) MINDTECK · Most evidence points down · 76% evidence 32.8 out of 100 Growth Capital Valuation Relative
53. [Aurionpro Solutions Ltd](https://www.sectoralpha.in/stocks/aurionpro-solutions-ltd) AURIONPRO · basing · Most evidence points down · 93% evidence 29.7 out of 100 Growth Capital Valuation Relative
54. [Moschip Technologies Ltd](https://www.sectoralpha.in/stocks/moschip-technologies-ltd) MOSCHIP · quiet · Most evidence points down · 65% evidence 26.1 out of 100 Growth Capital Valuation Relative
55. [Quick Heal Technologies Ltd](https://www.sectoralpha.in/stocks/quick-heal-technologies-ltd) QUICKHEAL · turning · Most evidence points down · 80% evidence 22.9 out of 100 Growth Capital Valuation Relative
56. Orient Technologies Ltd ORIENTTECH · quiet · Most evidence points down · 76% evidence 21.2 out of 100 Growth Capital Valuation Relative
57. [Covance Softsol Ltd](https://www.sectoralpha.in/stocks/covance-softsol-ltd) Too little evidence to rank firmly · 31% evidence 62.9 out of 100 Growth Capital Valuation Relative
58. [Exato Technologies Ltd](https://www.sectoralpha.in/stocks/exato-technologies-ltd) losing its lead · Too little evidence to rank firmly · 43% evidence 59.3 out of 100 Growth Capital Valuation Relative
59. [TAC Infosec Ltd](https://www.sectoralpha.in/stocks/tac-infosec-ltd) TAC · quiet · Too little evidence to rank firmly · 48% evidence 58.5 out of 100 Growth Capital Valuation Relative
60. [Veefin Solutions Ltd](https://www.sectoralpha.in/stocks/veefin-solutions-ltd) VEEFIN · basing · Too little evidence to rank firmly · 43% evidence 54.2 out of 100 Growth Capital Valuation Relative
61. [Kody Technolab Ltd](https://www.sectoralpha.in/stocks/kody-technolab-ltd) KODYTECH · leader · Too little evidence to rank firmly · 35% evidence 53.5 out of 100 Growth Capital Valuation Relative
62. [Optivalue Tek Consulting Ltd](https://www.sectoralpha.in/stocks/optivalue-tek-consulting-ltd) OPTIVALUE · Too little evidence to rank firmly · 32% evidence 51.4 out of 100 Growth Capital Valuation Relative
63. [Workmates Core2cloud Solution Ltd](https://www.sectoralpha.in/stocks/workmates-core2cloud-solution-ltd) Too little evidence to rank firmly · 26% evidence 50.7 out of 100 Growth Capital Valuation Relative
64. [Trident Techlabs Ltd](https://www.sectoralpha.in/stocks/trident-techlabs-ltd) TECHLABS · Too little evidence to rank firmly · 27% evidence 47.6 out of 100 Growth Capital Valuation Relative
65. [ERP Soft Systems Ltd](https://www.sectoralpha.in/stocks/erp-soft-systems-ltd) Too little evidence to rank firmly · 36% evidence 46.7 out of 100 Growth Capital Valuation Relative
66. [Sancode Technologies Ltd](https://www.sectoralpha.in/stocks/sancode-technologies-ltd) Too little evidence to rank firmly · 35% evidence 46.6 out of 100 Growth Capital Valuation Relative
67. [63 Moons Technologies Ltd](https://www.sectoralpha.in/stocks/63-moons-technologies-ltd) 63MOONS · leader · Too little evidence to rank firmly · 46% evidence 45.6 out of 100 Growth Capital Valuation Relative
68. [XT Global Infotech Ltd](https://www.sectoralpha.in/stocks/xt-global-infotech-ltd) XTGLOBAL · Too little evidence to rank firmly · 40% evidence 45.4 out of 100 Growth Capital Valuation Relative
69. [IDream Film Infrastructure Company Ltd](https://www.sectoralpha.in/stocks/idream-film-infrastructure-company-ltd) quiet · Too little evidence to rank firmly · 42% evidence 34.9 out of 100 Growth Capital Valuation Relative

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [IT - Software](https://www.sectoralpha.in/sectors/it-software), all 69 compared on one page. ## Which companies are close to Mastek in size? Mastek is the 17th largest of 68 IT - Software companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Tanla Platforms, Sonata Software and Seshaasai Technologies. Just below it: 63 Moons Technologies, AvenuesAI and Datamatics Global Services. ### IT - Software companies close in size

1. [Tanla Platforms Ltd](https://www.sectoralpha.in/stocks/tanla-platforms-ltd) ₹8,318 crore
2. [Sonata Software Ltd](https://www.sectoralpha.in/stocks/sonata-software-ltd) ₹6,273 crore
3. [Seshaasai Technologies Ltd](https://www.sectoralpha.in/stocks/seshaasai-technologies-ltd) ₹5,056 crore
4. Mastek Ltd ₹4,433 crore
5. [63 Moons Technologies Ltd](https://www.sectoralpha.in/stocks/63-moons-technologies-ltd) ₹4,372 crore
6. [AvenuesAI Ltd](https://www.sectoralpha.in/stocks/avenuesai-ltd) ₹4,207 crore
7. [Datamatics Global Services Ltd](https://www.sectoralpha.in/stocks/datamatics-global-services-ltd) ₹4,163 crore

[All 68 IT - Software companies, largest first](https://www.sectoralpha.in/sectors/it-software#all-companies)

### Companies close in size in other industries

1. [MAS Financial Services Ltd](https://www.sectoralpha.in/stocks/mas-financial-services-ltd) ₹4,439 crore · Finance & Investments - MSME Lending
2. [Surya Roshni Ltd](https://www.sectoralpha.in/stocks/surya-roshni-ltd) ₹4,436 crore · Steel - Tubes/Pipes
3. Mastek Ltd ₹4,433 crore
4. [Foseco India Ltd](https://www.sectoralpha.in/stocks/foseco-india-ltd) ₹4,419 crore · Chemicals - Organic
5. [63 Moons Technologies Ltd](https://www.sectoralpha.in/stocks/63-moons-technologies-ltd) ₹4,372 crore · IT - Software

## What else do people ask about Mastek? ### What is Mastek's share price today? Mastek Ltd's share price is ₹1,458.30, −31.8% over the past year. The whole company is worth ₹4,521 Cr on the market. In the last 52 weeks it traded between ₹1,398 to ₹2,269; today it is 7% of the way up from the low, 17.6% below its 200-day average (as of 3 November 2026). ### What were Mastek's latest quarterly results? Mastek Ltd reported revenue of ₹1,019 Cr and net profit of ₹106 Cr for the Sep 2026 quarter. Revenue rose 8.4% and profit rose 9.3% compared with a year earlier. Earnings per share were ₹34.08. The operating margin was 14.0%, 2.0 percentage points lower than a year earlier (as of 3 November 2026). ### What is Mastek's market cap? Mastek Ltd's market capitalisation is ₹4,521 Cr at a share price of ₹1,458.30. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is Mastek performing? Mastek Ltd's share price has been falling for 58 weeks. In its latest quarter, revenue rose 8.4% and profit rose 9.3% compared with a year earlier. Over the past 13 weeks it has done worse than the NIFTY 500, for 2 weeks running (as of 3 November 2026). ### Will Mastek's share price go up? This page does not forecast Mastek Ltd's share price. What it shows instead: the share price is ₹1,458.30, and it has been falling for 58 weeks. Its P/E of 10.3× is higher than 10% of its own last 11 years (as of 3 November 2026). ### Who owns Mastek? Promoters own 35.8% of Mastek Ltd, foreign institutions 5.9%, domestic institutions 22.0% and the public 36.3% (latest quarter). The biggest change over the last two years: Domestic institutions raised their stake by 11.6 percentage points over 8 quarters (as of 3 November 2026). ### Does Mastek have too much debt? No, Mastek Ltd has little debt: its debt is 0.15× its equity, and its operating profit is 18 times its interest bill. FY26 borrowings were ₹438 Cr against equity of ₹2,992 Cr. So the returns on this page come from the business, not borrowed money (as of 3 November 2026). ### Where is Mastek in its business cycle? Mastek Ltd's FY26 operating margin was 16.0%, against a 13-year range of 3.5% to 21.0%: the middle of its own range, neither a peak nor a low. The latest quarter was 14.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the Mastek story? The main question: yearly earnings per share moved +7.3% while the share price moved −31.8%. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is Mastek a stock worth studying right now? What the numbers show: Mastek Ltd's earnings have grown faster than its share price. Earnings per share grew +7.3% in a year while the price moved −31.8%. The main open question: whether the price catches up with earnings that have already grown. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ### Is there a Mastek share price forecast for 2026? What management itself guided: Operating profit uplift at least 160 basis points from Q2 base over medium term on internal repair. ## Lists

- Dividend stocks: https://www.sectoralpha.in/dividend-stocks-india
- AI & data centre stocks: https://www.sectoralpha.in/ai-stocks-india
- IT stocks: https://www.sectoralpha.in/sectors/it-stocks-india

This is research, not advice. We’re not SEBI-registered.