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Employees: 4,817
Size Mastek (MASTEK.NS) is an India Information Technology company (Information Technology Services) with a market value of $485M, the 855th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹1,477 on 6 Nov 2026.
Performance Over six months the shares fell 12.5%, against -25.0% for the median peer and 0.0% for the India market (cap-weighted) — 5th highest of 21 in its peer set.
Growth Revenue grew 6.4% over the last twelve months (peer median +4.2%); the operating margin is 13.1% (peer median 4.3%).
Valuation It trades at 11.1× forward earnings against a peer median of 13.7× (2nd cheapest of 10).
Price implies For today's price to make sense, revenue must grow about 7% a year for seven years (Req g). Recent delivered growth is +17%, so the hurdle is -10 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.2 points below its cost of capital (15.6% WACC).
Next results Next results expected around 31 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹38.6B | ₹37.0B | ₹34.6B | ₹30.5B | ₹25.6B |
| Revenue growth | — | +7% | +13% | +19% | — |
| Gross profit | ₹5.33B | ₹7.97B | ₹7.55B | ₹6.86B | ₹5.85B |
| EBITDA | ₹5.81B | ₹5.90B | ₹4.98B | ₹5.12B | ₹4.59B |
| Net income | ₹4.26B | ₹4.04B | ₹3.76B | ₹3.00B | ₹2.93B |
| Free cash flow | n/a | ₹5.01B | ₹3.42B | ₹3.60B | ₹648M |
| Capital expenditure | n/a | ₹280M | ₹201M | ₹420M | ₹315M |
| Total debt | ₹3.79B | ₹4.38B | ₹5.83B | ₹5.19B | ₹4.03B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | MASTEK.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -9.1% | -6.3% | 8th lowest of 21 |
| 6-month return | -12.5% | -25.0% | 5th highest of 21 |
| Distance from 52-week high | -37.7% | -41.2% | 9th highest of 21 |
| Revenue growth (TTM) | +6.4% | +4.2% | 10th highest of 21 |
| Operating margin | 13.1% | 4.3% | 6th highest of 19 |
| Forward P/E | 11.1× | 13.7× | 2nd cheapest of 10 |
| Growth the price implies (Req g, 7 yrs) | 6.7% | 1.8% | 5th most demanding of 10 |
| Growth delivered (Del g) | +16.5% | +5.2% | 2nd highest of 10 |
| Hurdle (Req g minus delivered) | -9.8 pp | +5.8 pp | 4th least demanding of 10 |
| ROIC minus cost of capital | -1.2 pp | -6.8 pp | 7th highest of 17 |
| EV / EBITDA | 6.9× | 8.2× | 3rd cheapest of 8 |
| Net debt / EBITDA | -0.9× | -0.5× | 3rd least indebted of 10 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Mastek MASTEK.NS | India | $485M | -12% | +6% | 13% | 11.1× | 6.7% | +16.5% |
| Rimini Street RMNI | United States | $484M | +30% | +3% | 7% | 13.1× | 11.0% | +5.2% |
| Beijing Trustfar Technology 300231.SZ | China | $481M | -28% | +4% | 3% | n/a | 21.0% | -4.3% |
| Haoyun Technologies 300448.SZ | China | $490M | -40% | -52% | n/a | n/a | 1.8% | -12.8% |
| Brilliance Technology 300542.SZ | China | $491M | -27% | -22% | 2% | n/a | n/a | n/a |
| Troy Information Technology 300366.SZ | China | $474M | -19% | -56% | -80% | n/a | n/a | n/a |
| Guangdong TianYiMa Information Industry 301178.SZ | China | $472M | -13% | +100% | 1% | n/a | 37.4% | +5.5% |
| CRESCO 4674.T | Japan | $471M | +36% | +10% | 10% | 13.7× | -1.6% | +10.2% |
| CSE Global 544.SI | Singapore | $467M | -45% | +25% | 5% | 13.5× | n/a | n/a |
| Business Engineering 4828.T | Japan | $463M | +1% | +16% | 26% | 15.6× | -6.5% | +6.7% |
| Hansen Technologies HSN.AX | Australia | $511M | -25% | -2% | 17% | 14.4× | 0.9% | +4.7% |
| Beijing Jingyeda Technology 003005.SZ | China | $458M | -26% | +26% | -21% | n/a | n/a | n/a |
| NETGEAR NTGR | United States | $513M | -31% | -1% | -4% | 46.4× | n/a | n/a |
| MMTec MTC | United States | $516M | -31% | +100% | n/a | n/a | n/a | n/a |
| Shanghai Newtouch Software 688590.SS | China | $454M | -28% | +5% | -7% | 134.5× | n/a | n/a |
| Fujian Rongji Software 002474.SZ | China | $520M | -24% | -22% | -21% | n/a | 31.5% | -8.1% |
| Anhui Wantong Technology 002331.SZ | China | $520M | -25% | +23% | -16% | n/a | n/a | n/a |
| Tre 9247.T | Japan | $521M | 0% | -9% | 14% | 12.2× | -12.8% | +23.2% |
| Yuanbao, Inc. Unsponsored ADR YB | United States | $523M | -34% | +37% | 32% | 2.3× | n/a | n/a |
| Zhongjin Irradiation 300962.SZ | China | $526M | -18% | +1% | 27% | n/a | n/a | n/a |
| Altia Consultores ALC.MC | Spain | $444M | -17% | +23% | 8% | n/a | n/a | n/a |