Tata Technologies logo

Tata Technologies

TATATECH NSE

Key Fundamentals

SmallcapIT Enabled ServicesInformation Technology
Market Cap
₹31,077 Cr
Volatility
Moderate
P/E Ratio
55.55
EBITDA
₹1,028 Cr
Return on Equity
13.93%
Debt to Equity
0.24
Book Value
₹79.55
EPS
₹16.02
52W High
₹891
52W Low
₹507.4

Tapetide Score

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

Key Insights

Strengths

1
  • Company has been maintaining a healthy dividend payout of 72.3%

Weaknesses

1
  • Stock is trading at 7.89 times its book value

Growth Rate

Revenue Growth
7.32% lower than 3Y
Net Income Growth
-19.26% lower than 3Y
Cash Flow Change
10.93% lower than 3Y
ROE
-26.34% lower than 3Y
ROCE
-34.56% higher than 3Y
EBITDA Margin (Avg.)
-9.5% higher than 3Y

AI Analysis — Bull vs Bear

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

Tata Technologies Ltd, with a market cap of ~₹31,077 Cr, operates in the engineering and product development services space within IT. The company trades at a PE of 56.7x and PB of 9.78x, reflecting premium valuations, while TTM sales growth stands at 15% but TTM profit growth has turned negative at -5%, indicating margin pressures despite topline momentum.

Bull Case 7
  • Strong TTM revenue growth of 15% signals healthy demand for engineering services and digital transformation offerings
  • 5-year compounded profit growth of 21% demonstrates a solid long-term earnings trajectory despite recent softness
  • Healthy dividend payout ratio of 72.3% with a dividend yield of 1.5%, offering meaningful cash returns to shareholders relative to IT sector peers
  • 5-year compounded sales growth of 18% reflects consistent ability to scale the business over medium-term cycles
  • 3-year average ROE of 19% and 5-year average ROE of 20% indicate efficient capital allocation and strong profitability on equity
  • Backed by the Tata Group ecosystem, providing access to anchor client Tata Motors and credibility with global OEMs in auto and aerospace verticals
  • Structural tailwinds from EV transition, SDV (software-defined vehicles), and Industry 4.0 adoption expand the addressable market for engineering R&D outsourcing
Bear Case 8
  • PE ratio of 56.7x is significantly elevated compared to the broader IT services sector average of ~25-30x, leaving limited margin of safety
  • TTM profit growth has turned negative at -5%, signaling margin compression even as revenues grow at 15%
  • 3-year compounded profit growth of -1% shows earnings have stagnated over the medium term despite revenue expansion
  • Price-to-book ratio of 9.78x (or ~8.06x by alternate calculation) implies the stock is priced for near-flawless execution with little room for disappointment
  • Last year ROE declined to 16% from the 3-year average of 19%, indicating a deteriorating return profile in the most recent period
  • High client concentration risk given significant revenue dependence on Tata Motors and the broader Tata Group as anchor accounts
  • Limited long-term listed track record — 10-year CAGR data for stock, sales, and profit are unavailable, making it harder to assess through-cycle resilience
  • Narrower service portfolio compared to full-stack IT majors like TCS or Infosys, making the business more vulnerable to cyclical downturns in auto and manufacturing verticals

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

AI News Digest

Anthropic anthropic claude-opus-4.6 2h ago
Headwinds 4
  • Goldman Sachs maintains sell rating Sep 5

    Goldman Sachs keeps a 'sell' rating citing growth moderation vs peers, heavy exposure to moderate-growth body engineering/mechanical segments, and limited justification for valuation premium.

  • Former CEO dumps ₹165Cr stake Sep 5

    Patrick McGoldrick sold 21 lakh shares (0.52% stake) at ₹785 apiece via block deals, reducing his holding from 1.13% to 0.62%. Stock closed 0.59% lower at ₹799.85.

  • FY26 net profit down 19% Sep 5

    Full-year FY26 consolidated net profit fell to ₹546.59 crore from ₹676.95 crore in FY25, despite revenue rising to ₹5,505.57 crore from ₹5,168.45 crore.

  • Stock hit 52-week low ₹507.50 Sep 5

    Tata Technologies touched a 52-week low of ₹507.50 on March 30, 2026, reflecting investor concerns about growth trajectory and competitive positioning.

Positives 3
  • Q4 profit up 8% YoY Sep 5

    Q4 FY26 consolidated net profit rose 8% to ₹204.17 crore from ₹188.87 crore, with revenue climbing to ₹1,572.22 crore from ₹1,285.65 crore YoY.

  • Strong institutional buying on dip Sep 5

    ICICI Prudential MF (6L shares), Kotak Mahindra MF (7.8L), 360 One AM (4L), and Carnelian AM (3.2L) collectively bought all 21 lakh shares at ₹785 apiece.

  • First-ever Investor Day announced Sep 7

    Tata Technologies scheduled its inaugural Investor Day for November 19, 2026 in Mumbai, with registration open until October 30, signaling greater transparency push.

Neutral 2
  • Investor meetings on Sep 11 Sep 11

    Management held one-on-one meetings with Karma Capital and Invesco MF, plus group sessions with multiple asset managers and insurers. No UPSI was shared.

  • Axis Capital conference participation Sep 8

    Tata Technologies will participate in Axis Capital's Consumer & Tech Conference on September 11, 2026 in Mumbai, with management meetings from 11am to 4pm.

TL;DR: Tata Technologies shows improving quarterly momentum with Q4 FY26 profit up 8%, but full-year FY26 net profit declined 19% to ₹546.59 crore, underscoring growth challenges. The Goldman Sachs sell rating and former CEO's ₹165 crore stake sale are notable overhangs, though quality institutional buyers stepping in at ₹785 provides some floor support. The company's heavy reliance on traditional mechanical/body engineering segments remains a structural risk until CASE exposure increases. The inaugural Investor Day on November 19 could be a sentiment catalyst if management articulates a credible pivot toward higher-margin software-led solutions.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
1,258
1,269
1,289
1,301
1,269
1,296
1,317
1,286
1,244
1,323
1,366
1,572
1,665
Expenses
1,007
1,055
1,053
1,061
1,038
1,061
1,083
1,052
1,044
1,116
1,173
1,320
1,397
Operating Profit
250
214
237
240
231
236
234
233
200
208
193
252
267
OPM %
20%
17%
18%
18%
18%
18%
18%
18%
16%
16%
14%
16%
16%
Other Income
31
30
31
24
23
16
28
61
68
54
-125
94
46
Interest
5
5
5
4
5
5
6
5
5
5
9
16
15
Depreciation
24
26
27
29
30
30
30
31
31
31
36
47
47
PBT
253
213
235
231
220
217
226
258
233
226
23
283
252
Tax %
24%
25%
28%
32%
26%
28%
25%
27%
27%
27%
71%
28%
28%
Net Profit
192
160
170
157
162
157
169
189
170
166
7
204
181
EPS in Rs
4.72
3.95
4.2
3.88
3.99
3.88
4.16
4.66
4.2
4.08
0.16
5.03
4.45
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
2,942
2,852
2,381
3,530
4,414
5,117
5,168
5,506
5,926
Expenses
2,437
2,382
1,995
2,884
3,593
4,176
4,234
4,653
5,006
Operating Profit
505
470
386
646
821
941
934
853
920
OPM %
17%
16%
16%
18%
19%
18%
18%
15%
16%
Other Income
36
36
39
49
88
116
128
91
69
Interest
1
16
18
22
18
19
20
34
45
Depreciation
69
99
92
86
95
106
121
145
160
PBT
471
392
315
587
796
932
921
765
784
Tax %
25%
36%
24%
26%
22%
27%
27%
29%
—
Net Profit
353
252
239
437
624
679
677
547
557
EPS in Rs
—
—
—
—
15.38
16.75
16.69
13.46
13.72
Div. Payout %
18%
66%
0%
0%
0%
60%
70%
87%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
42
42
42
42
81
81
81
81
Reserves
1,715
1,811
2,100
2,238
2,908
3,140
3,498
3,842
Borrowings
0
258
266
261
255
257
237
938
Other Liabilities
512
462
1,164
1,676
1,957
2,100
2,848
3,999
Total Liabilities
2,269
2,573
3,573
4,218
5,201
5,578
6,664
8,860
Fixed Assets
819
1,119
1,090
1,068
1,095
1,151
1,130
2,055
CWIP
25
0
0
0
3
0
0
15
Investments
39
36
497
528
30
150
616
823
Other Assets
1,386
1,417
1,986
2,622
4,074
4,277
4,918
5,966
Total Assets
2,269
2,573
3,573
4,218
5,201
5,578
6,664
8,860
Figures in ₹ Crores

Cash Flow

Particulars Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
369
267
1,113
-39
401
294
699
776
Investing
-19
-3
-664
70
-440
400
-65
-776
Financing
-221
-261
-44
-44
-347
-557
-486
16
Net Cash Flow
129
4
405
-13
-385
137
148
15
Free Cash Flow
320
214
1,099
-102
336
204
669
743
CFO/OP
108
85
317
14
78
63
108
112
Figures in ₹ Crores

Ratios

Particulars Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
71
93
91
79
91
82
71
79
Inventory Days
0
0
0
0
0
0
0
0
Days Payable
312
—
—
—
—
—
—
—
Cash Conversion Cycle
-241
93
91
79
91
82
71
79
Working Capital Days
55
61
-12
-12
66
56
34
33
ROCE %
—
22%
15%
25%
28%
28%
26%
21%

Insights

Beta

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

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Shareholding Pattern

DIIs4.48%Promot.55.17%FIIs6.30%Others8.61%Public25.44%As ofJun 2026

Documents

Frequently Asked Questions about Tata Technologies

What does Tata Technologies Ltd do?
Incorporated in 1994, Tata Technologies Limited is a global engineering services company offering Product Development and Digital Solutions.[1]
Where is Tata Technologies Ltd (TATATECH) listed?
Tata Technologies Ltd trades as TATATECH on the NSE and under code 544028 on the BSE.
Which sector does Tata Technologies Ltd belong to?
Tata Technologies Ltd is classified under the Information Technology sector, in the IT - Services industry.
What is the market capitalisation of Tata Technologies Ltd?
Tata Technologies Ltd has a market capitalisation of ₹31,077 Cr, which places it in the Large Cap band.
What is the PE ratio of Tata Technologies Ltd?
Tata Technologies Ltd trades at a PE ratio of 55.55, on earnings per share of ₹16.02, against a book value of ₹79.55 per share.
What is the 52-week high and low of Tata Technologies Ltd?
Over the last 52 weeks Tata Technologies Ltd has traded between ₹507.4 and ₹891.
Does Tata Technologies Ltd pay dividends?
Tata Technologies Ltd has a dividend yield of 1.50%.
What is the Return on Equity (ROE) of Tata Technologies Ltd?
Tata Technologies Ltd reported a return on equity of 13.93%. Its debt-to-equity ratio is 0.24.

Company Information

Incorporated in 1994, Tata Technologies Limited is a global engineering services company offering Product Development and Digital Solutions.[1]

Website tatatechnologies.com/in
Listed 2023-11-30
Face Value ₹ 2
Issued Size 40,57,43,604

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