Persistent Systems logo

Persistent Systems

PERSISTENT NSE

Key Fundamentals

MidcapComputer Software & ConsultingInformation Technology
Market Cap
₹86,802 Cr
Volatility
Moderate
P/E Ratio
45.15
EBITDA
₹2,976 Cr
Return on Equity
23.8%
Debt to Equity
0.06
Book Value
₹496.85
EPS
₹76.02
52W High
₹6,599
52W Low
₹4,244.5

Tapetide Score

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

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

Growth Rate

Revenue Growth
23.62% higher than 3Y
Net Income Growth
33.2% higher than 3Y
Cash Flow Change
52.74% higher than 3Y
ROE
7.4% lower than 3Y
ROCE
2.73% higher than 3Y
EBITDA Margin (Avg.)
9.57% lower than 3Y

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 2d ago
AI opinion · based on fundamentals
Risk medium

Persistent Systems is a mid-cap IT services company with a market cap of ₹86,802 Cr, trading at a PE of 45.1x and 11.1x book value. The company has delivered strong compounded profit growth of 36% CAGR over 5 years with a consistent ROE of 25-27%, while remaining nearly debt-free.

Bull Case 7
  • Strong profit growth trajectory with 36% compounded profit CAGR over 5 years and 31% TTM profit growth, indicating sustained earnings momentum
  • Consistent return on equity averaging 25% over 5 years and improving to 27% in the last year, reflecting efficient capital deployment
  • Company is almost debt-free, providing financial flexibility and resilience during downturns with negligible interest burden
  • Robust revenue growth with compounded sales CAGR of 29% over 5 years and 25% TTM growth, well above the 10-year median sales growth of 19.6%
  • Long-term wealth creation track record with stock CAGR of 33% over 10 years and 26% over 5 years
  • Healthy dividend payout ratio of 36.5% with a current yield of 0.73%, demonstrating shareholder return discipline while retaining capital for growth
  • Accelerating profitability evident from 10-year profit CAGR of 22% improving to 36% over 5 years, suggesting operating leverage and margin expansion
Bear Case 7
  • Elevated valuation at PE of 45.1x leaves limited margin of safety and prices in significant future growth expectations
  • Price-to-book ratio of 11.1x is substantially above typical IT sector averages, suggesting the stock is richly valued relative to its net asset base
  • Stock CAGR has decelerated sharply from 26% over 5 years to just 2% over the last 1 year, indicating potential re-rating fatigue
  • Dividend yield of only 0.73% offers limited income cushion in a rising interest rate environment where fixed deposits offer 7%+ returns
  • TTM sales growth of 25% while strong, shows deceleration from the 5-year CAGR of 29%, which may signal slowing deal momentum
  • At ₹86,802 Cr market cap, the company's size may make it harder to sustain 25-30% growth rates as the revenue base scales up
  • Mid-cap IT companies face concentrated client risk and are more vulnerable to project cancellations or delays compared to large-cap peers like TCS or Infosys

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

AI News Digest

Anthropic anthropic claude-opus-4.6 3h ago
Positives 3
  • Crisil ESG Leadership rating Sep 1

    Persistent Systems scored 77 from Crisil, earning a 'Leadership' category placement with a Core ESG rating of 84 based on FY25-26 disclosures.

  • SES 'A' ESG rating at 83.3 Aug 31

    Received a voluntary ESG rating of 'A' with a score of 83.3 from SES ESG Research for FY26, based on FY25-26 disclosures.

  • 'Excellent' ESG score of 71 Aug 25

    ESG Risk Assessment & Insights Limited gave Persistent a score of 71, rated 'Excellent', for FY26 based on company disclosures and public data.

Neutral 4
  • EGM for $1.25B Nagarro financing Sep 12

    EGM scheduled for October 5, 2026 to approve up to USD 1,250 million in debt and equity financing for the Nagarro acquisition, with equity issuance capped at USD 450 million via FCCBs or QIPs and a security creation limit of USD 1,375 million.

  • Board to consider fund raising Aug 30

    Board meeting set for September 2, 2026 to consider raising funds via ECBs or QIPs. Insider trading window closed ahead of the decision.

  • Investor session with Millennium Mgmt Aug 26

    Virtual investor and analyst session scheduled for September 1, 2026 with Millennium Management, UAE, reiterating Q1 FY27 results.

  • One-on-one with MFS International Aug 24

    Held a virtual session with MFS International on August 24, 2026 reiterating Q1 FY27 earnings with no unpublished price-sensitive information shared.

TL;DR: Persistent Systems is on a strong ESG trajectory, collecting three independent ratings (Crisil 77, SES 83.3, ERAI 71) in quick succession for FY26. The major strategic development is the Nagarro acquisition financing of up to USD 1.25 billion, which will involve significant debt and potential equity dilution capped at USD 450 million. No clear headwinds have emerged, but investors should watch for dilution impact from the upcoming QIP/FCCB issuance and execution risk on integrating Nagarro once the EGM vote clears on October 5.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 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
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
Operating Profit
374
405
442
454
455
481
538
584
612
683
733
768
697
OPM %
16%
17%
18%
18%
17%
17%
18%
18%
18%
19%
19%
19%
16%
Other Income
22
37
38
31
31
47
43
18
55
52
-49
33
71
Interest
13
12
12
10
14
18
16
18
17
18
19
19
29
Depreciation
76
74
79
80
71
74
82
79
94
100
101
109
115
PBT
307
356
389
395
401
435
482
505
555
617
565
674
623
Tax %
25%
26%
26%
20%
24%
25%
23%
22%
23%
24%
22%
21%
22%
Net Profit
229
263
286
315
306
325
373
396
425
471
439
529
483
EPS in Rs
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
Figures in ₹ Crores

Profit & Loss

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 in Rs
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%
—
Figures in ₹ Crores

Balance Sheet

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
Figures in ₹ Crores

Cash Flow

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
Figures in ₹ Crores

Ratios

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

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Shareholding Pattern

Promot.30.29%DIIs30.24%Others4.71%Public13.96%FIIs20.79%As ofJun 2026

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 [1]. It also has partnership with providers such as Salesforce and AWS [2].
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 market capitalisation of Persistent Systems Ltd?
Persistent Systems Ltd has a market capitalisation of ₹86,802 Cr, which places it in the Large Cap band.
What is the PE ratio of Persistent Systems Ltd?
Persistent Systems Ltd trades at a PE ratio of 45.15, on earnings per share of ₹76.02, against a book value of ₹496.85 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.
Does Persistent Systems Ltd pay dividends?
Persistent Systems Ltd has a dividend yield of 0.73%.
What is the Return on Equity (ROE) of Persistent Systems Ltd?
Persistent Systems Ltd reported a return on equity of 23.80%. 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 [1]. It also has partnership with providers such as Salesforce and AWS [2].

Website persistent.com
CEO Dr. Anand Suresh Deshpande Ph.D.
Employees 22,205
Listed 2010-04-06
Face Value ₹ 5
Issued Size 15,77,50,000

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