India's Most Valuable Companies 2024 edition · Source: Hurun India
Rank#484- Valuation
- ₹9,950 Cr
2021 #441
Market Cap
₹5,728 Cr
MASTEK · NSE
Share Price
₹1,834.60
-0.68% today
Revenue
₹3,699 Cr
FY 2025-26 · +7.1% YoY
EBITDA
₹555 Cr
Margin 15.0%
Net Profit
₹417 Cr
FY 2025-26 · +16.1% YoY
P/E (TTM)
12.8x
P/B 1.9x
ROE
14.8%
ROCE 16.7%
Debt / Equity
0.19
Interest cover 6.6x
About Mastek Limited
Data last updated:
Mastek Limited is a public limited company based in Ahmedabad, Gujarat, India. It operates in the IT consulting and support services segment of the technology and IT services sector. It was incorporated on 14 May 1982 and has been in existence for over 44 years.
Mastek is part of the BSE 500 index.
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN L74140GJ1982PLC005215. Its GSTIN is 27AAACM9908Q1ZQ (Maharashtra). The company holds 9 GST registrations, of which 3 are active. It is a listed company as per MCA records. Its shares are listed on BSE: 523704 and NSE: MASTEK.
The company has an authorised share capital of ₹40.85 Cr and a paid-up capital of ₹15.5 Cr. It was formerly known as Management and Software Technology Private Limited. It is led by directors including Umang Tejkaran Nahata (Whole-Time Director) and Suresh Choithram Vaswani.
Its last annual general meeting (AGM) was held on 23 September 2025, and its latest financial statements are for the year ended 31 March 2026. The registered office is at 804/805 President Houseopp C N Vidyalaya Nr Ambawadi Circle, Ahmedabad, Gujarat, India – 380006.
As per the latest consolidated financials for FY 2025-26, the company reported a revenue of ₹3,698.75 Cr, a growth of 7% compared to the previous year. For the same year it recorded a net profit of ₹416.77 Cr (net margin 11.3%) and EBITDA of ₹555.44 Cr (EBITDA margin 15%). The net worth stands at ₹2,991.85 Cr (up 21.5% YoY). Total assets are valued at ₹3,515.68 Cr (up 13.5% YoY).
The company has about 1,502 employees on its provident fund (EPFO) records. Its group structure includes 2 subsidiaries.
The company is associated with 1 brand: Mastek. As per MCA filings, the company has open charges of ₹344.55 Cr and satisfied charges of ₹356.97 Cr on record. Court records list 127 cases involving the company, including 61 filed by the company and 67 filed against it; 37 cases are pending. The company has 129 deals on record (121 market trades, 4 secondary share transfers, 4 funding rounds), with disclosed funding of ₹208.86 Cr; the latest was in July 2025. Its 3 peer companies in the Information Technology industry (IT Consulting and Services), with the same principal business activity (computer programming, consultancy and related activities) are compared by revenue, 1 larger and 2 smaller; the largest is Oracle Solution Services (India) Private Limited with revenue of ₹3,701.1 Cr. The company has 2 MSME Form 1 returns on record between 2018 and 2019, listing 10 overdue payments to 6 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website mastek.com.
Company details
CIN L74140GJ1982PLC005215
Registration Number 005215
Incorporation Date 14 May 1982
ROC Ahmedabad
Listing Status Listed - Listed on NSE (MASTEK); Listed on BSE (523704)
Company Status Active
Date of Last AGM 23 September 2025
Date of Balance Sheet 31 March 2026
Compliance Status Active Compliant
CIN history
Mastek has one previous CIN (Corporate Identification Number): U74140GJ1982PLC005215. The current CIN is L74140GJ1982PLC005215, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L74140GJ1982PLC005215 | Current |
| U74140GJ1982PLC005215 | Previous |
Key People
Umang Tejkaran Nahata Whole-Time Director Suresh Choithram Vaswani Director Ashank Datta Desai Director Recognitions & Rankings of Mastek
Stock market indices
BSE 500
Contact details
Mastek Limited's registered office is in Ahmedabad, Gujarat. Its website is mastek.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered Address804/805 President Houseopp C N Vidyalaya Nr Ambawadi Circle, Ahmedabad, Gujarat, India – 380006
- IndustryInformation Technology, IT Consulting & Support Services
To see the full contact details of Mastek Limited, buy the company report.
Comprehensive company report
Mastek Limited - one report that includes everything
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
₹799 ₹999 20% off excluding 18% GST
Secure checkout · GST invoice included
Brands
Mastek operates one associated brand: Mastek. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Provider of IT services for businesses | mastek.com |
Business activity
The main business activity of Mastek is information and communication. In detail, this covers computer programming, consultancy and related activities.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| J | Information and communication | J6 | Computer programming, consultancy and related activities |
To see the full business activity and turnover split of Mastek Limited, buy the company report.
Financials of Mastek Limited
FY 2025-26 filings availableMastek Limited reported revenue of ₹3,698.75 Cr (up 7% YoY) for FY 2025-26.
Financial Highlights
FY 2025-26 · ConsolidatedRevenue
₹3,699 Cr
+7.0% YoY
EBITDA
₹555 Cr
+52.6% YoY
Profit After Tax
₹417 Cr
+16.1% YoY
Net Worth
₹2,992 Cr
+21.5% YoY
Total Assets
₹3,516 Cr
+13.5% YoY
Total Debt
₹438 Cr
-24.8% YoY
Revenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 3,699 | 3,455 | 3,055 | 2,563 | 2,184 | 1,722 | 1,071 |
| Revenue growth | +7.1% | +13.1% | +19.2% | +17.4% | +26.8% | +60.7% | - |
| EBITDA | 555 | 364 | 505 | 438 | 463 | 364 | 129 |
| EBITDA margin | +15.0% | +10.5% | +16.5% | +17.1% | +21.2% | +21.2% | +12.1% |
| Profit before tax | 521 | 459 | 386 | 427 | 448 | 339 | 144 |
| Net profit | 417 | 359 | 300 | 273 | 283 | 204 | 121 |
| Net profit margin | +11.3% | +10.4% | +9.8% | +10.7% | +13.0% | +11.8% | +11.3% |
| EPS (₹) | 130.32 | 121.50 | 97.37 | 96.01 | 98.31 | 82.94 | 44.84 |
| Balance sheet | |||||||
| Total assets | 3,516 | 3,098 | 2,745 | 2,488 | 1,689 | 1,622 | 1,503 |
| Net worth | 2,992 | 2,462 | 2,087 | 1,683 | 1,071 | 859 | 790 |
| Total debt | 438 | 583 | 519 | 404 | 203 | 273 | 335 |
| Cash & bank | 705 | 461 | 383 | 208 | 727 | 608 | 221 |
| Net working capital | 1,103 | 914 | 560 | 562 | 682 | 517 | 327 |
| Cash flow | |||||||
| Cash from operations | 542 | 396 | 420 | 108 | 273 | 287 | 184 |
| Cash from investing | 1.87 | (260) | (249) | (719) | (26.02) | 218 | (262) |
| Cash from financing | (300) | (56.85) | 1.83 | 92.57 | (128) | (118) | 205 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 985 | 938 | 906 | 940 | 915 | 905 | 870 | 867 |
| Revenue growth (YoY) | +7.7% | +3.6% | +4.2% | +8.4% | +12.5% | - | - | - |
| Other income | 12.03 | 23.87 | 20.89 | 15.09 | 10.56 | 3.58 | 13.45 | 16.80 |
| EBITDA | 151 | 127 | 146 | 146 | 137 | 131 | 141 | 143 |
| EBITDA margin | +15.4% | +13.5% | +16.1% | +15.5% | +15.0% | +14.4% | +16.2% | +16.5% |
| Depreciation | 18.34 | 18.47 | 17.85 | 17.87 | 18.42 | 18.66 | 16.55 | 19.85 |
| Interest | 6.59 | 7.19 | 7.44 | 8.63 | 8.76 | 9.62 | 11.86 | 11.14 |
| Profit before tax | 138 | 125 | 141 | 134 | 121 | 106 | 126 | 129 |
| Tax | 32.58 | 19.08 | 32.84 | 36.65 | 28.65 | 24.85 | 30.98 | 0.27 |
| Net profit | 106 | 106 | 108 | 97.45 | 92.05 | 81.07 | 94.71 | 129 |
| EPS (₹) | 33.93 | 34.01 | 34.71 | 31.24 | 29.50 | 26.01 | 30.35 | 41.22 |
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 918 | 939 | 434 | 313 | 257 | 187 | 163 |
| Revenue growth | -2.3% | +116.3% | +38.6% | +22.1% | +37.2% | +14.5% | - |
| EBITDA | 123 | 126 | 69.40 | 47.11 | 33.84 | 10.46 | (3.45) |
| EBITDA margin | +13.4% | +13.4% | +16.0% | +15.0% | +13.2% | +5.6% | -2.1% |
| Profit before tax | 232 | 179 | 127 | 166 | 95.87 | 36.37 | 33.83 |
| Net profit | 220 | 163 | 120 | 83.31 | 63.86 | 17.32 | 28.09 |
| Net profit margin | +24.0% | +17.3% | +27.6% | +26.6% | +24.9% | +9.3% | +17.2% |
| EPS (₹) | 65.30 | 45.36 | 38.98 | 43.30 | 25.69 | 7.48 | 11.31 |
| Balance sheet | |||||||
| Total assets | 958 | 814 | 932 | 759 | 627 | 508 | 284 |
| Net worth | 868 | 749 | 849 | 743 | 602 | 480 | 269 |
| Total debt | 9.75 | 13.38 | 54.47 | 2.94 | 3.21 | 2.23 | 1.60 |
| Cash & bank | 25.90 | 17.09 | 27.13 | 7.48 | 49.06 | 24.44 | 20.82 |
| Net working capital | 242 | 164 | 34.73 | 0.92 | 51.01 | (48.16) | 17.66 |
| Cash flow | |||||||
| Cash from operations | 85.16 | 103 | 81.58 | 54.07 | 15.23 | 22.76 | 15.78 |
| Cash from investing | 3.57 | (14.27) | (68.68) | (7.34) | 21.58 | (12.55) | 22.67 |
| Cash from financing | (79.68) | (113) | (12.75) | (55.51) | (45.04) | (6.46) | (29.99) |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 221 | 245 | 226 | 218 | 229 | 234 | 233 | 245 |
| Revenue growth (YoY) | -3.3% | +4.7% | -3.2% | -10.9% | +0.8% | - | - | - |
| Other income | 5.77 | 37.05 | 14.44 | 58.37 | 25.59 | 33.91 | 6.52 | 59.66 |
| Total expenses | 192 | 219 | 199 | 187 | 190 | 230 | 216 | 203 |
| EBITDA | 29.41 | 26.05 | 26.87 | 31.73 | 38.57 | 3.31 | 16.97 | 42.35 |
| EBITDA margin | +13.3% | +10.7% | +11.9% | +14.5% | +16.8% | +1.4% | +7.3% | +17.3% |
| Depreciation | 6.67 | 6.48 | 6.39 | 6.08 | 6.69 | 6.62 | 4.35 | 7.54 |
| Interest | 0.30 | 0.31 | 0.34 | 0.37 | 0.38 | 0.45 | 1.23 | 1.55 |
| Profit before tax | 28.21 | 56.31 | 34.58 | 83.65 | 57.09 | 30.15 | 17.91 | 92.92 |
| Tax | 7.41 | (0.85) | 6.39 | 8.45 | 15.20 | 10.05 | 4.25 | 14.50 |
Financial Statements
Figures in ₹ Cr; negatives in brackets. Updated 22 Oct 2026
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 985 | 938 | 906 | 940 | 915 | 905 | 870 | 867 |
| Revenue growth (YoY) | +7.7% | +3.6% | +4.2% | +8.4% | +12.5% | - | - | - |
| Other income | 12.03 | 23.87 | 20.89 | 15.09 | 10.56 | 3.58 | 13.45 | 16.80 |
| EBITDA | 151 | 127 | 146 | 146 | 137 | 131 | 141 | 143 |
| EBITDA margin | +15.4% | +13.5% | +16.1% | +15.5% | +15.0% | +14.4% | +16.2% | +16.5% |
| Depreciation | 18.34 | 18.47 | 17.85 | 17.87 | 18.42 | 18.66 | 16.55 | 19.85 |
| Interest | 6.59 | 7.19 | 7.44 | 8.63 | 8.76 | 9.62 | 11.86 | 11.14 |
| Profit before tax | 138 | 125 | 141 | 134 | 121 | 106 | 126 | 129 |
| Tax | 32.58 | 19.08 | 32.84 | 36.65 | 28.65 | 24.85 | 30.98 | 0.27 |
| Net profit | 106 | 106 | 108 | 97.45 | 92.05 | 81.07 | 94.71 | 129 |
| EPS (₹) | 33.93 | 34.01 | 34.71 | 31.24 | 29.50 | 26.01 | 30.35 | 41.22 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 3,699 | 3,455 | 3,055 | 2,563 | 2,184 | 1,722 | 1,071 |
| Revenue growth | +7.1% | +13.1% | +19.2% | +17.4% | +26.8% | +60.7% | - |
| Other income | 70.41 | 212 | 16.01 | 81.06 | 36.08 | 27.91 | 43.24 |
| Total expenses | 3,143 | 3,091 | 2,550 | 2,125 | 1,721 | 1,357 | 942 |
| Employee cost | 1,973 | 1,859 | 1,671 | 1,377 | 1,095 | 883 | 584 |
| EBITDA | 555 | 364 | 505 | 438 | 463 | 364 | 129 |
| EBITDA margin | +15.0% | +10.5% | +16.5% | +17.1% | +21.2% | +21.2% | +12.1% |
| Depreciation | 72.61 | 75.12 | 89.91 | 67.37 | 42.87 | 44.95 | 24.89 |
| Interest | 32.02 | 42.06 | 44.47 | 24.72 | 7.68 | 8.10 | 3.62 |
| Profit before tax | 521 | 459 | 386 | 427 | 448 | 339 | 144 |
| Tax | 117 | 83.23 | 75.22 | 117 | 115 | 87.58 | 30.27 |
| Net profit | 417 | 359 | 300 | 273 | 283 | 204 | 121 |
| Net profit margin | +11.3% | +10.4% | +9.8% | +10.7% | +13.0% | +11.8% | +11.3% |
| EPS (₹) | 130.32 | 121.50 | 97.37 | 96.01 | 98.31 | 82.94 | 44.84 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 15.50 | 15.47 | 15.42 | 15.26 | 15.01 | 12.62 | 12.14 |
| Reserves & surplus | 2,976 | 2,447 | 2,072 | 1,668 | 1,056 | 846 | 778 |
| Shareholders' funds (net worth) | 2,992 | 2,462 | 2,087 | 1,683 | 1,071 | 859 | 790 |
| Minority interest | 0.00 | 0.00 | 0.00 | 91.10 | 150 | 182 | 137 |
| Secured loans | 421 | 555 | 487 | 372 | 190 | 260 | 335 |
| Unsecured loans | 16.87 | 27.96 | 32.41 | 32.56 | 12.57 | 12.83 | 0.00 |
| Total debt | 438 | 583 | 519 | 404 | 203 | 273 | 335 |
| Total liabilities | 3,516 | 3,098 | 2,745 | 2,488 | 1,689 | 1,622 | 1,503 |
| Assets | |||||||
| Gross block | 2,434 | 2,258 | 2,313 | 2,056 | 1,097 | 1,023 | 1,072 |
| Net block | 1,938 | 1,818 | 1,950 | 1,740 | 841 | 807 | 857 |
| Capital work in progress | 1.68 | 1.98 | 0.94 | 6.66 | 4.35 | 1.54 | 1.67 |
| Investments | 234 | 178 | 93.81 | 68.71 | 65.60 | 234 | 276 |
| Inventories | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Sundry debtors | 580 | 525 | 561 | 507 | 436 | 375 | 316 |
| Cash & bank balances | 705 | 461 | 383 | 208 | 727 | 608 | 221 |
| Loans & advances | 595 | 634 | 523 | 469 | 298 | 189 | 174 |
| Total current assets | 1,880 | 1,620 | 1,467 | 1,184 | 1,460 | 1,172 | 711 |
| Total current liabilities | 777 | 706 | 906 | 623 | 778 | 656 | 384 |
| Net working capital | 1,103 | 914 | 560 | 562 | 682 | 517 | 327 |
| Total assets | 3,516 | 3,098 | 2,745 | 2,488 | 1,689 | 1,622 | 1,503 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 461 | 381 | 208 | 727 | 608 | 220 | 92.95 |
| Net cash from operating activities | 542 | 396 | 420 | 108 | 273 | 287 | 184 |
| Net cash from investing activities | 1.87 | (260) | (249) | (719) | (26.02) | 218 | (262) |
| Net cash from financing activities | (300) | (56.85) | 1.83 | 92.57 | (128) | (118) | 205 |
| Net change in cash | 244 | 79.64 | 173 | (519) | 119 | 387 | 127 |
| Closing cash | 705 | 461 | 383 | 208 | 727 | 608 | 221 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +7.1% | +13.1% | +19.2% | +17.4% | +26.8% | +60.7% | - |
| EBITDA growth | +52.6% | -27.9% | +15.1% | -5.2% | +26.9% | +181.8% | - |
| PBT growth | +13.5% | +18.9% | -9.6% | -4.6% | +32.0% | +135.5% | +8.0% |
| Net income growth | +16.1% | +19.5% | +10.0% | -3.5% | +39.1% | +67.5% | - |
| Revenue CAGR (3Y) | +13.0% | +16.5% | +21.1% | +33.7% | +28.3% | +28.2% | +24.1% |
| EBITDA CAGR (3Y) | +8.2% | -7.7% | +11.5% | +50.2% | +59.7% | +54.1% | +42.0% |
| Profitability & leverage | |||||||
| Net income margin | +10.9% | +10.9% | +10.2% | +12.1% | +15.3% | +14.6% | +10.6% |
| Return on capital employed | +16.7% | +17.2% | +16.8% | +23.0% | +30.6% | +24.8% | +15.3% |
| Return on net worth | +14.8% | +16.5% | +16.5% | +22.5% | +34.6% | +30.5% | +16.8% |
| Debt / equity | 0.19 | 0.24 | 0.24 | 0.22 | 0.25 | 0.37 | 0.27 |
| Long-term debt / equity | 0.12 | 0.16 | 0.17 | 0.15 | 0.17 | 0.27 | 0.21 |
| Interest cover | 6.63 | 14.56 | 10.72 | 6.66 | 1.83 | 2.54 | 3.47 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 1.58 | 1.51 | 1.40 | 1.63 | 2.06 | 1.64 | 1.51 |
| Inventory turnover | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debtors turnover | 6.70 | 6.36 | 5.72 | 5.44 | 5.39 | 4.99 | 4.09 |
| EPS (₹) | 130.32 | 121.50 | 97.37 | 96.01 | 98.31 | 82.94 | 44.84 |
| Dividend per share (₹) | 24.00 | 23.00 | 19.00 | 19.00 | 19.00 | 14.50 | 8.00 |
| Book value per share (₹) | 965.11 | 795.84 | 676.85 | 551.58 | 356.88 | 340.15 | 325.56 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 221 | 245 | 226 | 218 | 229 | 234 | 233 | 245 |
| Revenue growth (YoY) | -3.3% | +4.7% | -3.2% | -10.9% | +0.8% | - | - | - |
| Other income | 5.77 | 37.05 | 14.44 | 58.37 | 25.59 | 33.91 | 6.52 | 59.66 |
| Total expenses | 192 | 219 | 199 | 187 | 190 | 230 | 216 | 203 |
| EBITDA | 29.41 | 26.05 | 26.87 | 31.73 | 38.57 | 3.31 | 16.97 | 42.35 |
| EBITDA margin | +13.3% | +10.7% | +11.9% | +14.5% | +16.8% | +1.4% | +7.3% | +17.3% |
| Depreciation | 6.67 | 6.48 | 6.39 | 6.08 | 6.69 | 6.62 | 4.35 | 7.54 |
| Interest | 0.30 | 0.31 | 0.34 | 0.37 | 0.38 | 0.45 | 1.23 | 1.55 |
| Profit before tax | 28.21 | 56.31 | 34.58 | 83.65 | 57.09 | 30.15 | 17.91 | 92.92 |
| Tax | 7.41 | (0.85) | 6.39 | 8.45 | 15.20 | 10.05 | 4.25 | 14.50 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 918 | 939 | 434 | 313 | 257 | 187 | 163 |
| Revenue growth | -2.3% | +116.3% | +38.6% | +22.1% | +37.2% | +14.5% | - |
| Other income | 135 | 84.38 | 72.25 | 132 | 74.99 | 37.28 | 48.86 |
| Total expenses | 794 | 813 | 365 | 266 | 223 | 177 | 167 |
| Employee cost | 625 | 647 | 298 | 213 | 188 | 141 | 124 |
| EBITDA | 123 | 126 | 69.40 | 47.11 | 33.84 | 10.46 | (3.45) |
| EBITDA margin | +13.4% | +13.4% | +16.0% | +15.0% | +13.2% | +5.6% | -2.1% |
| Depreciation | 25.64 | 26.30 | 13.50 | 13.03 | 12.42 | 10.79 | 11.13 |
| Interest | 1.40 | 4.82 | 1.09 | 0.44 | 0.54 | 0.58 | 0.45 |
| Profit before tax | 232 | 179 | 127 | 166 | 95.87 | 36.37 | 33.83 |
| Tax | 29.19 | 38.86 | 6.85 | 33.51 | 18.76 | 17.50 | 6.38 |
| Net profit | 220 | 163 | 120 | 83.31 | 63.86 | 17.32 | 28.09 |
| Net profit margin | +24.0% | +17.3% | +27.6% | +26.6% | +24.9% | +9.3% | +17.2% |
| EPS (₹) | 65.30 | 45.36 | 38.98 | 43.30 | 25.69 | 7.48 | 11.31 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 15.50 | 15.47 | 15.42 | 15.26 | 15.01 | 12.62 | 12.14 |
| Reserves & surplus | 852 | 734 | 834 | 727 | 587 | 467 | 257 |
| Shareholders' funds (net worth) | 868 | 749 | 849 | 743 | 602 | 480 | 269 |
| Secured loans | 3.53 | 4.25 | 49.58 | 2.71 | 2.63 | 1.34 | 0.47 |
| Unsecured loans | 6.22 | 9.13 | 4.89 | 0.23 | 0.58 | 0.89 | 1.13 |
| Total debt | 9.75 | 13.38 | 54.47 | 2.94 | 3.21 | 2.23 | 1.60 |
| Total liabilities | 958 | 814 | 932 | 759 | 627 | 508 | 284 |
| Assets | |||||||
| Gross block | 258 | 266 | 196 | 181 | 181 | 171 | 199 |
| Net block | 84.92 | 89.93 | 66.46 | 32.99 | 35.29 | 35.60 | 40.03 |
| Capital work in progress | 1.39 | 1.97 | 0.91 | 4.33 | 4.28 | 1.54 | 1.67 |
| Investments | 572 | 502 | 781 | 674 | 491 | 484 | 174 |
| Inventories | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Sundry debtors | 315 | 226 | 63.02 | 37.57 | 56.52 | 44.76 | 25.61 |
| Cash & bank balances | 25.90 | 17.09 | 27.13 | 7.48 | 49.06 | 24.44 | 20.82 |
| Loans & advances | 63.09 | 71.11 | 33.69 | 31.62 | 32.66 | 24.24 | 23.26 |
| Total current assets | 404 | 315 | 124 | 76.67 | 138 | 93.44 | 69.69 |
| Total current liabilities | 161 | 151 | 89.11 | 75.75 | 87.23 | 142 | 52.03 |
| Net working capital | 242 | 164 | 34.73 | 0.92 | 51.01 | (48.16) | 17.66 |
| Total assets | 958 | 814 | 932 | 759 | 627 | 508 | 284 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 16.04 | 40.30 | 11.81 | 15.70 | 23.93 | 20.18 | 11.72 |
| Net cash from operating activities | 85.16 | 103 | 81.58 | 54.07 | 15.23 | 22.76 | 15.78 |
| Net cash from investing activities | 3.57 | (14.27) | (68.68) | (7.34) | 21.58 | (12.55) | 22.67 |
| Net cash from financing activities | (79.68) | (113) | (12.75) | (55.51) | (45.04) | (6.46) | (29.99) |
| Net change in cash | 9.05 | (24.26) | 0.15 | (8.78) | (8.23) | 3.75 | 8.46 |
| Closing cash | 25.90 | 17.09 | 27.13 | 7.48 | 49.06 | 24.44 | 20.82 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | -2.3% | +116.3% | +38.6% | +22.1% | +37.2% | +14.5% | - |
| EBITDA growth | -2.2% | +81.5% | +47.3% | +39.2% | +223.5% | +403.2% | - |
| PBT growth | +29.3% | +41.0% | -23.3% | +72.8% | +163.6% | +7.5% | -13.6% |
| Net income growth | +35.5% | +35.8% | +43.7% | +30.5% | +268.7% | -38.3% | - |
| Revenue CAGR (3Y) | +43.1% | +54.1% | +32.4% | +24.2% | +10.7% | +4.9% | -1.2% |
| EBITDA CAGR (3Y) | +37.8% | +55.0% | +87.9% | - | +26.0% | -12.3% | - |
| Profitability & leverage | |||||||
| Net income margin | +22.1% | +14.9% | +27.7% | +42.2% | +30.0% | +10.1% | +16.8% |
| Return on capital employed | +26.3% | +24.4% | +15.2% | +14.9% | +13.8% | +9.3% | +12.3% |
| Return on net worth | +25.0% | +20.3% | +15.1% | +12.4% | +11.8% | +5.0% | +10.4% |
| Debt / equity | 0.01 | 0.04 | 0.04 | 0.00 | 0.01 | 0.01 | 0.01 |
| Long-term debt / equity | 0.01 | 0.04 | 0.03 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest cover | 1.43 | 4.84 | 1.95 | 1.29 | 2.52 | -175.76 | -3.09 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 3.50 | 4.06 | 2.30 | 1.73 | 1.46 | 1.01 | 0.82 |
| Inventory turnover | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debtors turnover | 3.39 | 6.49 | 8.63 | 6.66 | 5.07 | 5.32 | 5.32 |
| EPS (₹) | 65.30 | 45.36 | 38.98 | 43.30 | 25.69 | 7.48 | 11.31 |
| Dividend per share (₹) | 24.00 | 23.00 | 19.00 | 19.00 | 19.00 | 14.50 | 8.00 |
| Book value per share (₹) | 279.95 | 242.12 | 275.43 | 243.36 | 200.46 | 190.03 | 110.84 |
To see the full year-wise statements and ratios of Mastek Limited, buy the company report.
Board of directors of Mastek Limited
Mastek has 6 current directors and 24 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Suresh Choithram Vaswani Also directs: Wyser Venture Partners LLP, Vodafone Idea Limited, Icici Prudential Life Insurance Company Limited and 1 more | Director | 11 Dec 2022 | 3 Years 10 Months | Current |
| Ashank Datta Desai | Director | 06 Jun 1982 | 44 Years 4 Months | Current |
| Ketan Mehta | Director | 29 Dec 2020 | 5 Years 9 Months | Current |
| Rajeev Kumar Grover Also directs: Exempserv Professional Services Private Limited | Director | 28 Jan 2020 | 6 Years 8 Months | Current |
| Marilyn Frances Jones | Director | 05 Sep 2023 | 3 Years 1 Months | Current |
| Umang Tejkaran Nahata Also directs: Orange Orbit LLP, Evolutionary Systems Private Limited, Evosys Consultancy Services Private Limited and 2 more | Whole-Time Director | 19 Jul 2023 | 3 Years 3 Months | Current |
Peer comparison
Mastek Limited is compared with the 3 companies closest to it by revenue in the Information Technology industry (IT Consulting and Services), with the same principal business activity (computer programming, consultancy and related activities), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Oracle Solution Services (India) Private Limited | ₹3,701.1 Cr (FY 2025) | 8.0% | Bengaluru, Karnataka, India | |||
| Mastek Limitedthis company | ₹3,698.75 Cr (FY 2026) | ₹416.77 Cr | 11.3% | 7.0% | 1,502 | Ahmedabad, Gujarat, India |
| Synechron Technologies Private Limited | ₹3,360.94 Cr (FY 2025) | 6.0% | Pune, Maharashtra, India | |||
| Itc Infotech India Limited | ₹3,332.67 Cr (FY 2025) | 13.0% | Kolkata, West Bengal, India |
To see the full peer comparison of Mastek Limited, buy the company report.
Auditor
Mastek Limited is audited by WALKER CHANDIOK & CO LLP for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| WALKER CHANDIOK & CO LLP | FY 2023 | 001076N/N500013 |
Shareholding
Shareholding for the quarter ended Sep 2026: promoters hold 35.80%, foreign institutional investors hold 7.40%, domestic institutional investors hold 19.90% and retail and other public shareholders hold 36.90%.
Sep 2026
QUARTER
35.80% Promoters
19.90% DII (Domestic Institutional)
7.40% FII (Foreign Institutional)
36.90% Retail & Others
Promoter holding - history
Now 35.80% · Sep 2026High 35.80% · Dec 2025Low 35.80% · Dec 2025
Shareholding trend - last 6 quarters
| Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | |
|---|---|---|---|---|
| Promoters | 35.80% | 35.80% | 35.80% | 35.80% |
| Public | 64.20% | 64.20% | 64.20% | 64.20% |
Charges & borrowings
Open charges
₹344.55 Cr
Satisfied charges
₹356.97 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 05 Feb 2026 | 101230470 | Citi Bank N.A. | ₹270.81 Cr | Open | |
| 16 Dec 2025 | 101244446 | Hdfc Bank Limited | ₹27.9 Lakh | Open | |
| 21 Nov 2025 | 101195005 | Hdfc Bank Limited | ₹10.19 Lakh | Open | |
| 29 Oct 2025 | 101186600 | Hdfc Bank Limited | ₹11.03 Lakh | Open | |
| 17 May 2025 | 101114548 | Hdfc Bank Limited | ₹20.27 Lakh | Open |
To see the full charge records of Mastek Limited, buy the company report.
Total charge records: 53 View all charges
Deals & funding
Mastek Limited has 129 deals on record (121 market trades, 4 secondary share transfers, 4 funding rounds), with disclosed funding of ₹208.86 Cr; the latest was in July 2025.
Total deals
129
Market trades
121
Secondary share transfers
4
Funding rounds
4
Disclosed funding
₹208.86 Cr
Deals on record (5 of 129)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Jul 2025 | Market trade | ₹151.61 Cr | Buyer: Graviton Research Capital LLP , Musigma Securities Seller: Graviton Research Capital LLP , Musigma Securities |
| Apr 2025 | Market trade | ₹72.88 Cr | Buyer: Graviton Research Capital LLP Seller: Graviton Research Capital LLP |
| Apr 2025 | Market trade | ₹131.15 Cr | Buyer: Graviton Research Capital LLP , NK Securities Research Private Limited Seller: Graviton Research Capital LLP , NK Securities Research Private Limited |
| Mar 2025 | Market trade | ₹131.26 Cr | Buyer: Graviton Research Capital LLP , NK Securities Research Private Limited Seller: Graviton Research Capital LLP , NK Securities Research Private Limited |
| Oct 2024 | Market trade | ₹148.49 Cr | Buyer: Aalidhra Textool Engineers Private Limited Seller: Smallcap World Fund Inc |
To see the full deal history of Mastek Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Mastek Limited has 127 court cases on record: 61 filed by Mastek, 67 filed against it. 37 cases are pending and 90 are disposed.
Total cases
127
Filed by the company
61
Filed against the company
67
Pending
37
Disposed
90
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 94 | 49 | 20 |
| District courts | 23 | 10 | 17 |
| Supreme Court | 8 | 8 | 0 |
| NCLT | 2 | 0 | 0 |
Cases on record (5 of 127)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Mumbai City Civil Court, Maharashtra | Interim or miscellaneous application | Filed against the company by Mastek Limited | Pending |
| District court, Mumbai City Civil Court, Maharashtra | Interim or miscellaneous application | Filed by the company against Mastek Limited | Pending |
| District court, Mumbai City Civil Court, Maharashtra | Commercial suit | Filed by the company against Security and Intelligence Services (India) Limited (Sis) | Pending |
| District court, Calcutta, West Bengal | Civil suit | Filed against the company by Sahaj E-Village Ltd. | Pending |
| High Court, GUJARAT | Special civil application | Filed by the company against , Ahmedabad and 2 others | Disposed |
To see the full case history of Mastek Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
Credit ratings & regulatory alerts
Mastek Limited was last rated by Icra on 27 Jan 2022.
| Rating agency | Rated on | Rating |
|---|---|---|
| Icra | 27 Jan 2022 |
To see the full credit ratings and regulatory alerts of Mastek Limited, buy the company report.
MSME payment delays
Mastek Limited has 2 MSME Form 1 returns on record between 2018 and 2019, listing 10 overdue payments to 6 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (5 of 6)
To see the full MSME payment records of Mastek Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Group structure & subsidiaries
Mastek has 2 subsidiary companies. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
2
Subsidiary companies
Key subsidiaries
| Company Name | CIN | Shares held |
|---|---|---|
| Mastek Enterprise Solutions Private Limited (Formerly Known As Trans American Systems Private Limited) | U51505GJ1999PTC112745 | |
| Meta Soft Tech Systems Private Limited | U72900TN2013PTC090292 |
To see the full group structure of Mastek Limited, buy the company report.
Employees & EPFO
Mastek Limited has a workforce of 1,502 employees on its EPFO records as of Mar 26, 2024, across 1 active EPFO establishment.
Employee count
1,502
Active EPFO establishments
1
Employee growth
-8.25%
GST
Mastek has 9 GST registrations: 3 active and 6 cancelled or inactive.
Total GSTINs
9
Active
3
Cancelled / inactive
6
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAACM9908Q1ZQ | Maharashtra | Active | 01 Jul 2017 |
| 33AAACM9908Q1ZX | Tamil Nadu | Active | 01 Jul 2017 |
| 27AAACM9908Q2ZP | Maharashtra | Active | 14 Jul 2017 |
To see the full GST registrations and return filing status of Mastek Limited, buy the company report.
Recent activity
Mastek Limited has 49 board changes on record since 1982: 28 appointments and 21 cessations. The latest: Deepak Kedia was appointed as CFO on 17 Nov 2025.
Filing
Mastek Limited has filed its annual Financial statements for the year ended 31 Mar 2026 with Roc Ahmedabad.
Charges
A charge with Citi Bank N.A. amounted to Rs. 270.81 Cr with Charge ID 101230470 was registered on 05 Feb 2026.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 0.28 Cr with Charge ID 101244446 was registered on 16 Dec 2025.
Charges
A charge registered on 29 Apr 2021 via Charge ID 100466896 with Hdfc Bank Limited was fully satisfied on 03 Dec 2025.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 0.10 Cr with Charge ID 101195005 was registered on 21 Nov 2025.
Appointed
Deepak Kedia was appointed as CFO.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 0.11 Cr with Charge ID 101186600 was registered on 29 Oct 2025.
AGM
Mastek Limited last Annual general meeting of members was held on 23 Sep 2025 as per latest MCA records.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 0.20 Cr with Charge ID 101114548 was registered on 17 May 2025.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 0.08 Cr with Charge ID 101113097 was registered on 16 May 2025.
Charges
A charge registered on 13 Oct 2020 via Charge ID 100416290 with Citi Bank N.A. was fully satisfied on 16 Apr 2025.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 0.23 Cr with Charge ID 101045818 was registered on 01 Feb 2025.
111 earlier events are in the company report.
News
Mastek: Co Chosen by Staffordshire County Council for Oracle Cloud Upgrade, Aiming to Improve Finance, Procurement, HR, and Payroll Services for Better Efficiency and Future-Ready Public Services.
Mastek: Company Predicts FY27 Will Outperform FY26 - Interview
Mastek: Company To Host Analyst And Investor Meeting On September 25
Mastek: Company To Hold Meeting With Analysts And Investors On September 22 At 10 Am
Frequently asked questions
Mastek is an active public limited company based in Ahmedabad, Gujarat, India. The company works in IT consulting and support services, within the information technology industry. It was incorporated on 14 May 1982 (44+ years old) and is registered under CIN L74140GJ1982PLC005215. Listed on BSE: 523704 and NSE: MASTEK.
Mastek reported revenue of ₹3,698.75 Cr for FY 2025-26 (up 7% YoY) based on consolidated financials.
Mastek has 6 current directors:
- Umang Tejkaran Nahata - Whole-Time Director
- Suresh Choithram Vaswani - Director
- Ashank Datta Desai - Director
- Ketan Mehta - Director
- Rajeev Kumar Grover - Director
- Marilyn Frances Jones - Director
The latest financial statements of Mastek on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 23 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Mastek is 27AAACM9908Q1ZQ, registered in Maharashtra. The company has 9 GST registrations in all, of which 3 are active and 6 are cancelled or inactive. Other active GSTINs include 33AAACM9908Q1ZX (Tamil Nadu), 27AAACM9908Q2ZP (Maharashtra).
The CIN (Corporate Identification Number) of Mastek is L74140GJ1982PLC005215. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Yes. Mastek is a listed company as per MCA records. Its shares are listed on both BSE (code: 523704) and NSE (symbol: MASTEK).
Mastek has 127 court cases on record: 61 filed by the company and 67 filed against it. 37 are pending. Most are in the high courts.
Mastek was incorporated on 14 May 1982, making it 44+ years old. It is registered with the Registrar of Companies, Ahmedabad.
Mastek has 129 deals on record (121 market trades, 4 secondary share transfers, 4 funding rounds), with disclosed funding of ₹208.86 Cr; the latest was in July 2025.
The peers of Mastek by revenue are Oracle Solution Services (India) Private Limited, Synechron Technologies Private Limited, Itc Infotech India Limited, all in the Information Technology industry (IT Consulting and Services), with the same principal business activity (computer programming, consultancy and related activities).
Deepak Kedia was appointed as CFO on 17 Nov 2025. Arun Agarwal ceased to be CFO on 29 Jan 2025. Marilyn Frances Jones was appointed as Director on 05 Sep 2023. Mastek has 49 board changes on record in total.