NSE:PERSISTENTNSETechnology
Persistent Systems Limited
📊 Information Technology Services
Day ₹4,799
₹4,909 Oversold
52W ₹4,449
₹6,599 Oversold
₹4,830.10
▲ ₹26.60 (+0.55%)
Vol: 373,811 · Avg: 864,388
As of April 29, 2026 · 06:26 IST
COMPOSITE RISK SCORE
49 MODERATE
VAL:14/25 · FIN:16/25 · GRO:16/25 · TECH:3/25
📈 P/E RATIO
40.7x
Trailing
📖 P/B RATIO
9.6x
Price to Book
💰 EPS
₹118.65
TTM
🏛 MARKET CAP
₹75,461Cr
Large Cap
📊 ROE
26.3%
Return on Equity
📈 REV GROWTH
25.1%
YoY
🏢 Company Analysis · Persistent Systems Limited
💼 BUSINESS MODEL
  • Persistent Systems Limited provides software products, services, and technology solutions in India, North America, and internationally..
  • It operates through Banking, Financial Services and Insurance (BFSI); Healthcare & Life Sciences; and Technology Companies and Emerging Verticals segments..
  • The company provides Persistent GenAI Hub, a generative artificial intelligence (AI) solution; consulting services for business strategy and transformation; software engineering services to architect, design, develop, and manage software product lifecycle; and CX transformation solutions, such as CX strategy, Salesforce cloud implementation, CX platform integration, customer analytics and insights, and Salesforce industry solutions and accelerators..
  • It also offers hybrid and multi-cloud transformation, data center modernization, persistent intelligent IT operations, cloud advisory, service management, service desk, digital workplace, and management and sustenance services, as well as CloudOps, a multi-cloud intelligent operations framework; business process management, robotic process automation, low code application development, and conversational AI solutions; and application modernization, maintenance and support, portfolio rationalization, application, and platform development solutions...
  • Operates in Information Technology Services within the Technology sector.
🏰 MOAT & COMPETITION
  • Large-cap (₹75,461 Cr) — established player with meaningful market presence.
  • ROE of 26.3% indicates strong competitive advantage and efficient capital deployment.
  • Profit margin of 12.6% — moderate pricing power.
  • Key competitors: TCS, Infosys, HCL Technologies, Sonata Software.
🚀 CATALYSTS
  • Company has delivered good profit growth of 35.9% CAGR over last 5 years
  • Company's median sales growth is 19.6% of last 10 years
  • DigitalOcean (DOCN) Expands AI Partnerships as Demand for Agentic Cloud Rises (Insider Monkey)
  • Revenue growing at 25% — strong top-line momentum.
  • Earnings growth of 32% signals execution on profitability.
⚖️ ASYMMETRY CHECK
  • Analyst target range: ₹3,611 — ₹6,600 (mean ₹5,593, 33 analysts).
  • Moderate asymmetry — upside +37% vs downside -25% (1.5x).
  • P/E of 40.7x — premium valuation, growth must sustain to avoid de-rating risk.
🔭 FUTURE OUTLOOK
  • Analyst consensus: Buy (33 analysts).
  • Latest quarter earnings grew 34% YoY — positive trajectory.
✅ PROS
  • Company is almost debt free.
  • Company has delivered good profit growth of 35.9% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 25.4%
  • Company has been maintaining a healthy dividend payout of 36.5%
  • Company's median sales growth is 19.6% of last 10 years
❌ CONS
  • Stock is trading at 9.76 times its book value
  • Working capital days have increased from 47.9 days to 73.1 days
VALUATION
14/25
25% WEIGHT
  • P/E at 41x
  • P/B at 9.6x
  • Analyst target: ₹5593 (+15.8%)
  • 1Y return: -10.1%
FINANCIAL HEALTH
16/25
25% WEIGHT
  • ROE: 26.3%
  • Profit margin: 12.6%
  • Revenue growth: 25.1%
  • Debt/Equity: 6%
GROWTH
16/25
25% WEIGHT
  • Revenue growth: 25.1%
  • Earnings growth: 32.1%
  • Beta: 0.15
  • Sector: Technology
TECHNICAL
3/25
25% WEIGHT
  • RSI, MACD, MA crossovers
  • 200 DMA & 50 EMA position
  • Volume trend analysis
  • Price momentum signals
📈 Price Movement
🕯 Candlestick Chart
🎯 Price Prediction · Analyst Target Cone Source: Yahoo Finance Analyst Targets ↗
📉 Valuation Trends (at current CMP)
P/E Ratio at current CMP
320.5 249.1 177.6 106.2 34.7 '2015 '2016 '2017 '2018 '2019 '2020 '2021 '2022 '2023 '2024 '2025 '2026 Mar 2015: 266.0 Mar 2016: 278.7 Mar 2017: 256.4 Mar 2018: 239.2 Mar 2019: 219.7 Mar 2020: 217.0 Mar 2021: 163.8 Mar 2022: 107.0 Mar 2023: 80.2 Mar 2024: 68.0 Mar 2025: 53.3 Mar 2026: 40.9 40.9
💎 Valuation & Financial Metrics
P/E RATIO
40.7x
Trailing twelve months
P/B RATIO
9.6x
Price to Book value
ROE
26.3%
Return on Equity
PROFIT MARGIN
12.6%
Net profit margin
OPM
16.3%
Operating profit margin
ANALYST TARGET
₹5,593
Range: ₹3,611 - ₹6,600
Yahoo Finance ↗
PEG RATIO
3.35
Price/Earnings to Growth
EV/EBITDA
26.3x
Enterprise value ratio
CURRENT RATIO
2.43
Liquidity measure
DIVIDEND YIELD
0.92%
Annual yield
ROA
14.9%
Return on Assets
GROSS MARGIN
31.2%
Gross profit margin
INDUSTRY AVERAGES — COMPUTERS - SOFTWARE & CONSULTING
P/E 17.1x (above avg)
P/B 8.0x (sector fair)
ROCE 30.1% (above avg)
ROE 25% (sector good)
OPM 25% (sector good)
Div Yield 2.44%
D/E <20 (sector comfort)
📋 Quarterly Performance Trend
QuarterRevenueQoQ %Net ProfitQoQ %Op. Cash FlowEBITDA Margin
Q2 FY25 N/A— N/A— N/A N/A
Q3 FY25 ₹3,062 Cr— ₹373 Cr— N/A 19.0%
Q4 FY25 ₹3,242 Cr+5.9% ₹396 Cr+6.1% N/A 18.6%
Q1 FY26 ₹3,334 Cr+2.8% ₹425 Cr+7.4% N/A 20.0%
Q3 FY26 ₹3,778 Cr+13.3% ₹439 Cr+3.4% N/A 18.1%
Q4 FY26 ₹4,056 Cr+7.4% ₹529 Cr+20.4% N/A 19.8%
📊 Year-on-Year Trend
FYRevenueYoY %Net ProfitYoY %Op. Cash FlowYoY %
FY22 N/A— N/A— N/A—
FY23 ₹8,351 Cr— ₹921 Cr— ₹956 Cr—
FY24 ₹9,822 Cr+17.6% ₹1,093 Cr+18.7% ₹1,302 Cr+36.2%
FY25 ₹11,939 Cr+21.6% ₹1,400 Cr+28.0% ₹1,157 Cr-11.2%
FY26 ₹14,748 Cr+23.5% ₹1,865 Cr+33.2% ₹1,767 Cr+52.7%
📈 Revenue vs Earnings
🎯 EPS: Estimate vs Actual
💰 How Persistent Systems Limited Makes Its Money
Revenue ₹4.1K Cr Cost of Revenue ₹2.8K Cr Gross Profit ₹1.3K Cr Op. Expenses ₹639 Cr Operating Inc. ₹659 Cr Tax ₹145 Cr Other ₹33 Cr Net Income ₹529 Cr (13.0% margin) Mar 2026 · All values in ₹ Crores
🏦 Snapshot of Persistent Systems Limited's Balance Sheet
Total Assets ₹11.4K Cr Cash & Equiv.: ₹1.1K Cr (9.4%) Receivables: ₹2.1K Cr (18.8%) Other Current: ₹3.9K Cr (34.2%) PP&E: ₹955 Cr (8.4%) Goodwill: ₹1.4K Cr (12.0%) Other Intangibles: ₹579 Cr (5.1%) Other Non-Curr.: ₹1.4K Cr (12.2%) Liab. + Equity ₹11.4K Cr Current Liab.: ₹2.9K Cr (25.7%) Long-Term Debt: ₹300 Cr (2.6%) Other Liab.: ₹315 Cr (2.8%) Equity: ₹7.8K Cr (68.9%) As of Mar 2026 · All values in ₹ Crores
💸 Looking into Persistent Systems Limited's Cash Flow
Operating CF ₹1.8K Cr Capital Exp. ₹209 Cr Free Cash Flow ₹1.6K Cr Dividends ₹579 Cr Buybacks ₹205 Cr Retained / Other ₹775 Cr FY2026 · All values in ₹ Crores
📅 Quarterly Results Source: Screener ↗
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales +2,4122,4982,5912,7372,8973,0623,2423,3343,5813,7784,056
Expenses +2,0072,0562,1362,2822,4162,5242,6582,7222,8983,0453,288
Operating Profit405442454455481538584612683733768
OPM %17%18%18%17%17%18%18%18%19%19%19%
Other Income +373831314743185552-4933
Interest1212101418161817181919
Depreciation7479807174827994100101109
Profit before tax356389395401435482505555617565674
Tax %26%26%20%24%25%23%22%23%24%22%21%
Net Profit +263286315306325373396425471439529
EPS in Rs17.1118.5920.4719.8921.0224.1225.5927.1730.1527.8633.55
Raw PDF
📊 Profit & Loss Statement Source: Screener ↗
Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales +3,0343,3663,5664,1885,7118,3519,82211,93914,748
Expenses +2,5652,8103,0733,5054,7536,8318,1469,88111,953
Operating Profit4695564936839581,5191,6762,0582,795
OPM %15%17%14%16%17%18%17%17%19%
Other Income +119881321081444112813891
Interest00661247476773
Depreciation158157166176166272309307403
Profit before tax4294864526099241,2411,4481,8222,411
Tax %25%28%25%26%25%26%24%23%23%
Net Profit +3233523404516909211,0931,4001,865
EPS in Rs20.1921.9822.2629.4845.1560.2470.9890.54118.23
Dividend Payout %25%25%27%34%34%41%37%39%34%
🏦 Balance Sheet Source: Screener ↗
Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital807976767676777879
Reserves2,0472,2662,3092,7193,2923,8894,8816,2417,759
Borrowings +227198578655451311477
Other Liabilities +5145096357711,4731,9991,9972,0923,061
Total Liabilities2,6442,8563,0923,6665,4196,6197,4058,72211,377
Fixed Assets +5124014324571,5342,3412,2212,5412,883
CWIP532301210716347711
Investments8807649791,0008226408279801,615
Other Assets +1,2471,6591,6522,1972,9563,6224,3245,1236,868
Total Assets2,6442,8563,0923,6665,4196,6197,4058,72211,377
💰 Cash Flow Statement Source: Screener ↗
Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +4214323527368459561,3021,1571,767
Cash from Investing Activity +-337-233-6-540-971-383-525-517-610
Cash from Financing Activity +-96-160-329-144182-404-582-628-748
Net Cash Flow-123916525616919612409
Free Cash Flow3563952776114645249479641,572
CFO/OP116%103%98%131%113%85%98%81%86%
📈 Key Financial Ratios
Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days585361506169625653
Inventory Days
Days Payable
Cash Conversion Cycle585361506169625653
Working Capital Days53433725420244773
ROCE %20%20%18%21%26%30%29%30%34%
🏭 Industry Peers — Computers - Software & Consulting
#CompanyCMPP/EMkt CapROCEQtr ProfitScore
1TCS ★₹2,47517.1₹895,62163.0%+12.2%85
2Infosys₹1,17515.8₹476,37440.0%+20.9%66
3HCL Technologies₹1,20418.8₹326,69830.6%+4.2%55
4Sonata Software₹26316.0₹7,37529.1%+18.4%50
5Mastek₹1,67512.2₹5,19118.0%+40.5%50
6LTM₹4,35023.9₹129,02329.6%+19.4%50
7Hexaware Tech.₹45019.0₹27,51130.1%+14.3%49
8Zensar Tech.₹52415.0₹11,91923.5%+19.2%49
9Persistent Systems₹4,83239.5₹76,23134.4%+33.7%46
★ TCS ranks higher on combined P/E, ROCE, and growth metrics in Computers - Software & Consulting
🏛 Shareholding Pattern
Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters30.66%30.66%30.56%30.56%30.29%30.29%
FIIs24.75%24.36%24.19%21.24%22.79%22.11%
DIIs26.26%26.85%27.77%30.60%29.80%30.47%
Public17.22%17.28%16.88%17.14%16.21%16.14%
Others1.09%0.83%0.60%0.45%0.88%0.96%
No. of Shareholders2,39,6822,38,7952,43,4412,54,8972,33,7872,40,518
🟢 CATALYSTS
🏆Positive Revenue Growth: Revenue growing at 25.1% YoY.
💹High ROE (26.3%): Above sector norm of 25% — efficient capital use.
🔀Analyst Upside (16%): Mean target of ₹5593 above current price.
🇮Low Beta (0.15): Less volatile than market — defensive play.
🇳Earnings Growth (32%): Above sector norm — strong profit expansion.
🔴 RISKS
📜Market Risk: Broader market correction or sentiment shift could impact stock.
💰Sector Risk: Regulatory or competitive changes in Technology space.
🔓Execution Risk: Growth may not meet elevated expectations.
🕸 Factor Analysis · Radar
Momentum 3/10: 1M -1.0%, 6M -17.7%, RSI 38, MACD bearish, Below 200DMA Sentiment 8/10: Analyst upside +15.8%, Rec: buy Value 2/10: P/E 40.7, P/B 9.6, PEG 3.35, EV/EBITDA 26.3 Quality 9/10: ROE 26.3%, Margin 12.6%, D/E 6, CR 2.43 Low Volatility 9/10: Beta 0.15, Ann. vol 31% Momentum 3 Sentiment 8 Value 2 Quality 9 Low Vol 9
Momentum 3/10
1M -1.0%, 6M -17.7%, RSI 38, MACD bearish, Below 200DMA
Sentiment 8/10
Analyst upside +15.8%, Rec: buy
Value 2/10
P/E 40.7, P/B 9.6, PEG 3.35, EV/EBITDA 26.3
Quality 9/10
ROE 26.3%, Margin 12.6%, D/E 6, CR 2.43
Low Volatility 9/10
Beta 0.15, Ann. vol 31%
🎯 Decision Matrix
ActionIf Stock RisesIf Stock Falls
BUYCapture 15.8% analyst upside; strong 34% ROCE compoundsOPM of 16% provides margin buffer; P/E 41x vs sector median 17x is a risk
HOLDRetain existing position; wait for better entry; FII stake falling (-0.68%)Miss further upside if momentum continues
SELLLock in -10.1% 1Y return; redeploy into TCS at lower P/EAvoid further drawdown; P/E compression risk at 41x
REASONS TO BUY
  • Analyst upside of 15.8% with mean target of ₹5,593
  • ROCE at 34% indicates strong capital efficiency
  • ROE of 26.3% above sector norm of 25%
  • Revenue growing at 25.1% YoY (sector norm: 12%)
REASONS TO SELL / AVOID
  • P/E of 40.7x is 2.4x the sector median of 17x
  • FII stake falling (-0.68%) — institutional exit signal
  • TCS offers lower P/E (17.1) with ROCE of 63.0% in the same sector
📰 Latest News
Persistent Systems Ltd (BOM:533179) Q4 2026 Earnings Call Highlights: Strong Revenue Growth and ...
GuruFocus.com · 2026-04-22T07:02
Persistent Systems Ltd (BOM:533179) Q3 2026 Earnings Call Highlights: Strong Revenue Growth ...
GuruFocus.com · 2026-01-20T19:01
DigitalOcean (DOCN) Shares Skyrocket, What You Need To Know
StockStory · 2026-01-05T17:16
DigitalOcean (DOCN) Expands AI Partnerships as Demand for Agentic Cloud Rises
Insider Monkey · 2026-01-03T11:50
Sector Update: Tech Stocks Lean Lower Premarket Tuesday
MT Newswires · 2025-12-16T14:08
RECOMMENDATION
HOLD
COMPOSITE SCORE
49/100
Persistent Systems Limited trades at ₹4,830.10 with a composite risk score of 49/100. The stock scores 14/25 on valuation, 16/25 on financial health, 16/25 on growth, and 3/25 on technicals. The company is currently profitable with strong return on equity.

Analyst consensus suggests upside of 15.8% with a mean target of ₹5593. Revenue growth is at 25.1% — a strong positive signal.

Within Computers - Software & Consulting, TCS (P/E 17.1, ROCE 63.0%) ranks higher on techno-fundamental metrics and may be worth considering.

Bottom Line: Neutral for Technology — wait for better entry or catalyst. The current recommendation is HOLD.
PROFITABLE HIGH ROE STRONG GROWTH UPSIDE POTENTIAL
RISK SCORE REPORT · NSE:PERSISTENT · GENERATED APR 29, 2026 06:26 IST · DATA VIA YAHOO FINANCE + SCREENER.IN
DISCLAIMER: THIS IS NOT FINANCIAL ADVICE. DATA MAY BE DELAYED. ALWAYS VERIFY WITH OFFICIAL SOURCES BEFORE INVESTING.