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Persistent Systems

PERSISTENT NSE
₹6,065.00 No trade today
P/E
49.64
View as Markdown
MCP
Close 4 Nov 2026 ₹6,065.00 +223.00 +3.82% 1Y
Start ₹5,842.00

Key Fundamentals

MidcapIT - SoftwareInformation Technology

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
34.40%
Debt to Equity
0.06
EPS (TTM)
₹122.18
Book Value
₹775.13
Market Cap
—
P/E (TTM)
49.64
P/B
7.82
ROE
27.20%
Dividend Yield
0.66%
EBITDA
₹2,976 Cr
52W High
₹6,599.00
52W Low
₹4,244.50
Volume
0

Peer Comparison

Information Technology › Computer Software & Consulting › Computers - Software & Consulting

Persistent Systems peer comparison
TCS
₹2,436.0017.08₹8,98,480 Cr7.400.96%51.80%63.00%₹2,83,248 Cr₹51,858 Cr
Infosys
₹1,128.2014.88₹4,63,085 Cr4.862.26%31.90%40.00%₹1,89,336 Cr₹30,788 Cr
HCL Tech
₹1,405.0021.88₹3,89,601 Cr5.013.34%23.80%30.40%₹1,34,374 Cr₹17,434 Cr
Wipro
₹194.5515.21₹1,94,390 Cr2.441.01%15.50%17.80%₹94,968 Cr₹13,285 Cr
Tech Mahindra
₹1,783.0034.02₹1,76,066 Cr5.880.84%17.50%23.10%₹59,176 Cr₹5,163 Cr
LTM
₹4,204.9023.84₹1,26,067 Cr4.820.59%23.10%29.60%₹44,075 Cr₹5,197 Cr
Persistent Systems (this company)
₹6,065.0049.64₹96,188 Cr7.820.66%27.20%34.40%₹15,718 Cr₹1,922 Cr
Median 7 companies₹1,783.0021.88₹1,94,390 Cr5.010.96%23.80%30.40%₹94,968 Cr₹13,285 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

58 Good

Data confidence 100/100

Category scores

Quality
65
Good
Returns, margins, earnings quality 22% weight
Valuation
29
Poor
Cheap vs sector & own history 24% weight
Growth
64
Good
Sales & profit trajectory 9% weight
Financial Health
79
Strong
Solvency, leverage, coverage 9% weight
Momentum
85
Strong
Trend strength, vol-adjusted 12% weight
Ownership
57
Good
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

5
  • Company is almost debt free.
  • Company has delivered good profit growth of 35.8% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 25.6%
  • Company has been maintaining a healthy dividend payout of 36.5%
  • Company's median sales growth is 19.6% of last 10 years

Weaknesses

1
  • Stock is trading at 11.1 times its book value

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bullish4312
OscillatorsBearish432
Moving AveragesStrong Bullish0010

Key readings

RSI (14)
64.84
Neutral
MACD (12,26,9)
133.05
Bullish
SMA (50)
5,635.65
Bullish
SMA (200)
5,318.94
Bullish

As of

Analyst Rating

Based on 33 analysts
BUY48%

16 of 33 analysts rate Buy, 8 Hold, 9 Sell.

As of

BUY
16
48%
HOLD
8
24%
SELL
9
27%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+20.36%
5Y+28.63%
3Y+20.87%
1Y+23.53%
TTM+25.39%

Net profit

Net profit growth by window
10Y+21.01%
5Y+32.83%
3Y+26.51%
1Y+33.21%
TTM+26.53%

Operating cash flow

Operating cash flow growth by window
10Y+21.41%
5Y+19.14%
3Y+22.72%
1Y+52.72%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y+2.00 pp
5Y+2.65 pp
3Y+0.77 pp
1Y+1.72 pp
TTM+0.66 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹2,878 Cr
Mar 2018₹3,034 Cr
Mar 2019₹3,366 Cr
Mar 2020₹3,566 Cr
Mar 2021₹4,188 Cr
Mar 2022₹5,711 Cr
Mar 2023₹8,351 Cr
Mar 2024₹9,822 Cr
Mar 2025₹11,939 Cr
Mar 2026₹14,748 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹301 Cr
Mar 2018₹323 Cr
Mar 2019₹352 Cr
Mar 2020₹340 Cr
Mar 2021₹451 Cr
Mar 2022₹690 Cr
Mar 2023₹921 Cr
Mar 2024₹1,093 Cr
Mar 2025₹1,400 Cr
Mar 2026₹1,865 Cr

Analyst Forecasts

Forecast For
Dec 26 consensus · EBITDA
₹906 Cr +37.7% vs Sep 26
Reported High Mean Low

AI Analysis — Bull vs Bear

Figures as of 29 Oct 2026
AI opinion · based on fundamentals
Risk medium

As of 2026-10-29, Persistent Systems trades at ₹5,880 with a market cap of ₹92,757 Cr, commanding a P/E of 48.13x and P/B of 7.59x. The company has delivered compounded profit growth of 36% CAGR over five years on a near debt-free balance sheet (debt-to-equity of 0.06), while ROE stands at 23.8% and ROCE at 29.39%.

Bull Case 8
  • Near debt-free balance sheet with a debt-to-equity ratio of just 0.06, providing significant financial flexibility and resilience during downturns.
  • Compounded profit growth of 36% CAGR over five years and 31% TTM profit growth demonstrate strong and accelerating earnings momentum.
  • Consistent ROE track record — 27% last year, 26% over three years, 25% over five years, and 22% over ten years — indicating durable capital efficiency.
  • ROCE of 29.39% is well above the cost of capital, signaling high-quality reinvestment of earnings back into the business.
  • Compounded sales growth of 29% over five years and 25% TTM shows the company is sustaining revenue momentum, with a 10-year median sales growth of 19.6%.
  • Healthy dividend payout ratio of 36.5% alongside a dividend yield of 0.68%, reflecting shareholder-friendly capital allocation even while funding growth.
  • Stock CAGR of 32% over 10 years and 24% over both 3- and 5-year periods reflects sustained long-term wealth creation for shareholders.
  • Current price of ₹5,880 is approximately 11% below the 52-week high of ₹6,599, suggesting the stock has pulled back from recent peaks.
Bear Case 6
  • Stock trades at 7.59x book value (cited as 11.1x by some measures), which is demanding and prices in substantial future growth expectations.
  • Despite strong profit growth, TTM sales growth of 25% would need to sustain at these levels to justify the current P/E of 48.13x — any slowdown could compress multiples.
  • Dividend yield of only 0.68% offers limited income cushion for investors, meaning returns are almost entirely dependent on capital appreciation.
  • 1-year stock CAGR of just 7% versus 3- and 5-year CAGRs of 24% suggests recent returns have meaningfully decelerated from the longer-term trend.
  • At a market cap of ₹92,757 Cr, the company's size increasingly makes it harder to sustain the 29% five-year sales CAGR as the revenue base grows larger.
  • EPS of ₹122.18 on a price of ₹5,880 implies the market is pricing in multi-year earnings compounding well above current levels, creating vulnerability to any earnings miss.

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

9h ago

TL;DR: Persistent Systems is delivering strong top-line momentum with 30% YoY revenue growth and has nearly completed its landmark $1.25 billion Nagarro acquisition with 94% stake secured. However, the acquisition has weighed on near-term profitability — Q2 profit fell 25% QoQ and the company has taken on ₹7,000 crore in debt plus ₹4,264 crore in equity dilution to fund the deal. The key forward question is whether Nagarro integration can sustain the growth trajectory while margins recover from acquisition-related drag over the next two to three quarters.

Headwinds 3
  • Q2 profit falls 25% QoQ Oct 15

    Consolidated net profit dropped 25.4% QoQ to ₹351.5 crore in Q2FY27, with EBIT margin contracting to 10% from 13.5% due to ₹185.34 crore in Nagarro acquisition-related expenses.

  • EBIT margin under pressure Oct 16

    EBIT margin of 15% (adjusted) came in below the estimated 15.6%, while adjusted PAT of ₹4.9 billion missed the ₹5.7 billion estimate. TCV declined 44.7% QoQ to USD 634 million.

  • ₹7,000 crore debt load added Nov 4

    Allotted ₹7,000 crore in NCDs at 8.95% coupon across 2-to-5-year tenors to fund the Nagarro acquisition, significantly increasing the company's leverage.

Positives 4
  • Nagarro 94% stake secured Oct 9

    Persistent secured a 94.04% aggregate stake in Nagarro SE via a voluntary public takeover offer, one of the largest overseas acquisitions by an Indian IT firm at ~$1.25 billion.

  • Strong 30% YoY revenue growth Oct 15

    Q2FY27 revenue grew 30.3% YoY to ₹4,663.9 crore and 8.4% QoQ, with USD revenue of $488 million beating the $475 million estimate.

  • ₹4,264 crore QIP completed Oct 21

    Successfully raised ₹4,264 crore (~$450 million) through a QIP at a floor price of ₹5,550 per share, providing equity funding for the Nagarro acquisition.

Quarterly Results

₹ Cr
PERSISTENT quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
2,321
2,412
2,498
2,591
2,737
2,897
3,062
3,242
3,334
3,581
3,778
4,056
4,303
4,664
Expenses
1,947
2,007
2,056
2,136
2,282
2,416
2,524
2,658
2,722
2,898
3,045
3,288
3,606
4,030
Operating Profit
374
405
442
454
455
481
538
584
612
683
733
768
697
633
OPM %
16%
17%
18%
18%
17%
17%
18%
18%
18%
19%
19%
19%
16%
14%
Other Income
22
37
38
31
31
47
43
18
55
52
−49
33
71
24
Interest
13
12
12
10
14
18
16
18
17
18
19
19
29
38
Depreciation
76
74
79
80
71
74
82
79
94
100
101
109
115
167
PBT
307
356
389
395
401
435
482
505
555
617
565
674
623
454
Tax %
25%
26%
26%
20%
24%
25%
23%
22%
23%
24%
22%
21%
22%
23%
Net Profit
229
263
286
315
306
325
373
396
425
471
439
529
483
352
EPS (₹)
14.86
17.11
18.59
20.47
19.89
21.02
24.12
25.59
27.17
30.15
27.86
33.55
30.62
—

Sep 2026: from the results filed on 15 Oct 2026, ahead of the full statement, so some rows are blank.

Profit & Loss

₹ Cr
PERSISTENT profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
1,891
2,312
2,878
3,034
3,366
3,566
4,188
5,711
8,351
9,822
11,939
14,748
15,718
Expenses
1,501
1,921
2,413
2,565
2,810
3,073
3,505
4,753
6,831
8,146
9,881
11,953
12,837
Operating Profit
390
392
465
469
556
493
683
958
1,519
1,676
2,058
2,796
2,881
OPM %
21%
17%
16%
15%
17%
14%
16%
17%
18%
17%
17%
19%
18%
Other Income
94
77
84
119
88
132
108
144
41
128
138
91
107
Interest
0
0
0
0
0
6
6
12
47
47
67
73
85
Depreciation
94
99
149
158
157
166
176
166
272
309
307
403
424
PBT
390
370
401
429
486
452
609
924
1,241
1,448
1,822
2,411
2,479
Tax %
25%
25%
25%
25%
28%
25%
26%
25%
26%
24%
23%
23%
—
Net Profit
291
277
301
323
352
340
451
690
921
1,093
1,400
1,865
1,923
EPS (₹)
18.16
17.33
18.84
20.19
21.98
22.26
29.48
45.15
60.24
70.98
90.54
118
122
Div. Payout %
41%
23%
24%
25%
25%
27%
34%
34%
41%
37%
39%
34%
—

Balance Sheet

₹ Cr
PERSISTENT balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
80
80
80
80
79
76
76
76
76
77
78
79
Reserves
1,326
1,578
1,819
2,047
2,266
2,309
2,719
3,292
3,889
4,881
6,241
7,759
Borrowings
4
3
3
2
2
71
98
578
655
451
311
477
Other Liabilities
365
459
433
514
509
635
771
1,473
1,999
1,997
2,092
3,029
Total Liabilities
1,775
2,120
2,335
2,644
2,856
3,092
3,666
5,419
6,619
7,405
8,722
11,344
Fixed Assets
408
437
536
512
401
432
457
1,534
2,341
2,221
2,541
2,856
CWIP
4
27
29
5
32
30
12
107
16
34
77
38
Investments
674
638
684
880
764
979
1,000
822
640
827
980
1,615
Other Assets
689
1,018
1,086
1,247
1,659
1,652
2,197
2,956
3,622
4,324
5,123
6,836
Total Assets
1,775
2,120
2,335
2,644
2,856
3,092
3,666
5,419
6,619
7,405
8,722
11,344

Cash Flow

₹ Cr
PERSISTENT cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
312
254
286
421
432
352
736
845
956
1,302
1,157
1,767
Investing
−230
−86
−222
−337
−233
−6
−540
−971
−383
−525
−517
−618
Financing
−66
−127
−58
−96
−160
−329
−144
182
−404
−582
−628
−748
Net Cash Flow
16
41
6
−12
39
16
52
56
169
196
12
401
Free Cash Flow
216
89
70
356
395
277
611
464
524
947
964
1,572
CFO/OP
105
91
84
116
103
98
131
113
85
98
81
86

Ratios

PERSISTENT financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
69
67
60
58
53
61
50
61
69
62
82
83
Cash Conversion Cycle
69
67
60
58
53
61
50
61
69
62
82
83
Working Capital Days
29
40
49
53
43
37
25
4
20
24
47
50
ROCE %
29%
23%
23%
20%
20%
18%
21%
26%
30%
29%
31%
34%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Persistent Systems insights

67 extracted metrics across FY10–FY27.

Shareholding Pattern

As of Sep 2026

  • DIIs 31.96%
  • Promoters 30.29%
  • FIIs 20.79%
  • Public 16.40%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Persistent Systems

What does Persistent Systems Ltd do?
Persistent Systems provides software engineering and strategy services to help companies implement and modernize their businesses. It has its own software and frameworks with pre-built integration and acceleration. It also has partnership with providers such as Salesforce and AWS.
Where is Persistent Systems Ltd (PERSISTENT) listed?
Persistent Systems Ltd trades as PERSISTENT on the NSE and under code 533179 on the BSE.
Which sector does Persistent Systems Ltd belong to?
Persistent Systems Ltd is classified under the Information Technology sector, in the Computer Software & Consulting industry.
What is the PE ratio of Persistent Systems Ltd?
Persistent Systems Ltd trades at a PE ratio of 49.64 as of 4 Nov 2026, on earnings per share of ₹122.18, against a book value of ₹775.13 per share.
What is the 52-week high and low of Persistent Systems Ltd?
Over the last 52 weeks Persistent Systems Ltd has traded between ₹4,244.5 and ₹6,599 as of 4 Nov 2026.
Does Persistent Systems Ltd pay dividends?
Persistent Systems Ltd has a dividend yield of 0.66%.
What is the Return on Equity (ROE) of Persistent Systems Ltd?
Persistent Systems Ltd reported a return on equity of 27.20%. Its debt-to-equity ratio is 0.06.

Company Information

Persistent Systems provides software engineering and strategy services to help companies implement and modernize their businesses. It has its own software and frameworks with pre-built integration and acceleration. It also has partnership with providers such as Salesforce and AWS.

Website persistent.com
CEO Dr. Anand Suresh Deshpande Ph.D.
Employees 22,205
Listed 6 Apr 2010
Face Value ₹5

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