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Mphasis USD

At a glance: strengths & risks
✓Revenue growing (+17% y/y, Q1 2026)✓Profit growing (+11% y/y, Q1 2026)✓Low leverage (0.2x EBITDA)

Sector: IT services

IN_MPHASIS

Price chart

2 480 INRDay -1.02%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
2 480 INR · -1.02%
Market cap
5.0 bn USD

Growth

Δ revenue y/y
9.1%
Δ EBITDA y/y
5.1%

Multiples

P/E (LTM)
24.5x
3y avg: 24.2x
P/B (FY)
4.4x
P/E (ann.)
23.6x
EV/EBITDA (LTM)
32.7x
3y avg: 33.1x
EV/EBITDA (ann.)
31.1x

Cash return

Dividend yield
2.5%
FCF yield (LTM)
-201.5%

Value creation

fundamental value/yr, % of market cap
Value created / year
-194.7%
↓ details

Liquidity

Daily turnover (listing)
2.2 bln INR

Shares: connector/market_inputs

Amounts: USD (converted) · As reported
Converted modes use NBK / ECB-linked rates: balance sheet date for BS items, period average for P&L and cash flow (see filing row evidence). As reported keeps each row in its filing currency.

Financial results

Monetary columns are in M USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueM USDOperating profitM USDD&AM USDEBITDAM USDNet profitM USDOperating CFM USDCapex + M&AM USDAssetsM USDEquityM USDROE (annualized)Net debtM USDSource
2026-06-30Q2 2026 (3M)OK473.0
y/y 9.1%
69.9
y/y 5.5%
15.9
y/y 3.6%
85.8
y/y 5.1%
52.8
y/y 3.0%
39.5-121.31929.9
y/y 1.2%
1197.8
y/y 0.8%
18.0%5689.8—
2026-03-31FY 2026 (12M)OK—
y/y 5.3%
—
y/y 5.5%
—
y/y 10.0%
—
y/y 6.3%
—
y/y 3.2%
——1895.1
y/y 8.6%
1145.0
y/y 1.6%
17.9%6699.6—
2025-12-31Q4 2025 (3M)OK454.8
y/y 7.5%
69.2
y/y 6.8%
16.2
y/y 3.2%
85.4
y/y 6.1%
50.2
y/y -1.1%
43.8-1231.51910.0
y/y 15.3%
1131.3
y/y 6.7%
6.0%-1152.6—
2025-09-30Q3 2025 (3M)OK450.3
y/y 6.5%
68.8
y/y 5.7%
14.7
y/y 19.0%
83.5
y/y 7.8%
54.1
y/y 6.9%
55.0-289.11832.8
y/y 13.1%
1083.7
y/y 4.7%
19.1%-3952.0Link
2025-06-30Q2 2025 (3M)OK433.4
y/y 5.4%
66.3
y/y 7.4%
15.3
y/y 21.4%
81.6
y/y 9.8%
51.3
y/y 5.5%
22.4-81.01907.1
y/y 9.8%
1188.1
y/y 7.2%
17.7%-4353.7—
2025-03-31FY 2025 (12M)OK—
y/y 3.3%
—
y/y 13.1%
—
y/y 11.8%
—
y/y 12.9%
—
y/y 5.5%
——1744.7
y/y 3.0%
1126.9
y/y 6.8%
18.1%1296.0—
2024-12-31Q4 2024 (3M)OK422.9
y/y 5.0%
64.8
y/y 8.0%
15.7
y/y 26.1%
80.5
y/y 11.1%
50.8
y/y 12.7%
62.1-43.51656.0
y/y —
1060.0
y/y —
6.5%222.6Link
2024-09-30Q3 2024 (3M)OK422.8
y/y 6.5%
65.1
y/y 6.0%
12.4
y/y 14.8%
77.5
y/y 7.3%
50.6
y/y 6.6%
55.0-202.81620.9
y/y 9.4%
1034.6
y/y 8.7%
18.9%-683.1Link
2024-06-30Q2 2024 (3M)OK411.2
y/y —
61.7
y/y —
12.6
y/y —
74.3
y/y —
48.6
y/y —
60.1-286.81737.1
y/y —
1108.1
y/y —
18.0%5704.4Link
2024-03-31FY 2024 (12M)OK—
y/y -4.6%
—
y/y -13.1%
—
y/y 25.2%
—
y/y -7.9%
—
y/y -5.9%
——1694.7
y/y 20.0%
1054.8
y/y 9.3%
—7386.5—
2023-12-31Q4 2023 (3M)PARTIAL402.6
y/y —
60.0
y/y —
12.5
y/y —
72.4
y/y —
45.1
y/y —
71.2-246.4—
y/y —
—
y/y —
—≈ -3950.0Link
2023-09-30Q3 2023 (3M)OK397.0
y/y —
61.4
y/y —
10.8
y/y —
72.2
y/y —
47.5
y/y —
93.1-205.61481.5
y/y —
952.1
y/y —
19.8%-3950.0Link
2023-03-31FY 2023 (12M)OK1674.8
y/y —
256.0
y/y —
39.5
y/y —
295.4
y/y —
198.8
y/y —
177.4-1131.51412.2
y/y —
965.2
y/y —
—-1640.5—

Revenue & EBITDA

RevenueEBITDA

Quarterly values (INR mln)

01002003004005002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Year-over-year change

0%20%40%2024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Cash flow

FCF (INR mln)

-500501001502002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Net debt / cash (INR mln)

-5 000-2 50002 5005 0007 5002024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q22026 q4

Profit and cash

Worth a look
In a typical year of 2022–2026 operating cash flow came to 1.12x of reported net profit; after capex, 1.08x.
year20222023202420252026
cash flow / profit1.20x0.89x1.40x1.12x0.67x
accruals, % of assets—1.5%-4.4%-1.4%3.4%
Last twelve months (to 2025-Q3): 0.75x of profit came back as operating cash flow.
net debt / EBITDA 0.2x · capex 0.3x of depreciation
● Capex is 35% of depreciation - the asset base is being consumed faster than replaced.
Read from the reported annual statements: cash flow / profit is the median of the yearly operating cash flow over net profit for the years shown; accruals are (profit − operating cash flow) / assets, the classic gap between what was booked and what was collected. A gap can be growth in working capital, capitalised costs, revaluations or profit from associates — the panel points at it, the statements explain it. Not investment advice.

Fundamental value creation

Value the company creates per year, as a % of market cap

Value created per year: -194.7%

How this was calculated
1. EBITDA growth (latest quarter YoY, annualised)
[EBITDA latest qtr − EBITDA year-ago qtr] × annualisation X (2026-06-30 vs 2025-06-30)
= (86 − 82) × 3.96
16
2. Current EV/EBITDA (LTM)
(Market cap + Net debt) ÷ EBITDA (LTM)
= (4 985 + 5 690) ÷ 339
30.0x — capped at 30x
3. Target multiple
(Current EV/EBITDA + 11) ÷ 2
= (30.0 + 11) ÷ 2
20.5x
4. Cash flow (balance method, LTM)
Net-debt reduction + dividends + buybacks − equity issuance
= -10 044 + 0 + 0 − 0
-10 044
5. Value created per year
(EBITDA growth × Target multiple + Cash flow − Dilution) ÷ Market cap
= (16 × 20.5 + -10 044) ÷ 4 985
-194.7%

Amounts in millions of the reporting currency. EBITDA growth is the latest quarter vs the same quarter a year ago, annualised.

Caveats:

  • dividends/buybacks not in data - balance cash flow uses net-debt change only

Revenue growth & acceleration

Growth accelerating ▲
Last-year revenue growth +12% vs +7% the year before — a +4.4 pp move. 3-year CAGR +5%.
revenue growth by year: 2024 -4% · 2025 +7% · 2026 +12%
The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2026-07-0862 INREx-dividend: 62 INR per sharePaidYahoo Finance (ex-div)
2025-07-0957 INREx-dividend: 57 INR per sharePaidYahoo Finance (ex-div)
2024-07-1055 INREx-dividend: 55 INR per sharePaidYahoo Finance (ex-div)
2023-07-0550 INREx-dividend: 50 INR per sharePaidYahoo Finance (ex-div)
2022-07-0546 INREx-dividend: 46 INR per sharePaidYahoo Finance (ex-div)
2021-09-1365 INREx-dividend: 65 INR per sharePaidYahoo Finance (ex-div)

KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily ex-div).

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)

Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of Mphasis — from primary filings.

Frequently asked questions

What is Mphasis's P/E ratio?
Mphasis trades at a P/E of 24.5x (price to trailing 12-month earnings).
What is Mphasis's EV/EBITDA?
Mphasis trades at 32.7x EV/EBITDA.
What is Mphasis's P/B ratio?
Mphasis trades at a P/B of 4.4x.
What is Mphasis's dividend yield?
Mphasis's trailing 12-month dividend yield is 2.5%.
What is Mphasis's return on equity (ROE)?
Mphasis's ROE is 18.0%.
What is Mphasis's market capitalization?
Mphasis's market cap is 5.0 bn USD.

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