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Persistent Systems INR

At a glance: strengths & risks
✓Revenue growing (+24%)✓Profit growing (+33%)✓Net cash balance sheet

Sector: IT services

IN_PERSISTENT

Price chart

5 800 INRDay 3.67%

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
5 800 INR · 3.67%
Market cap
915.0 bn INR

Growth

Δ revenue y/y
29.1%
Δ EBITDA y/y
13.9%

Multiples

P/E (LTM)
49.1x
3y avg: 49.7x
P/B (FY)
11.7x
P/E (ann.)
47.4x
EV/EBITDA (LTM)
32.2x
3y avg: 38.1x
EV/EBITDA (ann.)
32.6x

Cash return

Dividend yield
0.7%
FCF yield (LTM)
0.4%

Value creation

fundamental value/yr, % of market cap
Value created / year
+7.9%
↓ details

Liquidity

Daily turnover (listing)
3.4 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 B INR, 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.

DatePeriodStatusRevenueB INROperating profitB INRD&AB INREBITDAB INRNet profitB INROperating CFB INRCapex + M&AB INRAssetsB INREquityB INRROE (annualized)Net debtB INRSource
2026-06-30Q2 2026 (3M)PARTIAL43.0
y/y 29.1%
5.8
y/y 12.3%
1.2
y/y 22.9%
7.0
y/y 13.9%
4.8
y/y 13.7%
1.2-1.0122.0
y/y 29.6%
84.2
y/y 23.0%
23.8%≈ -6.7—
2026-03-31FY 2026 (12M)OK—
y/y 23.5%
—
y/y 50.1%
—
y/y 31.3%
—
y/y 47.1%
—
y/y 33.2%
——113.8
y/y 30.2%
78.4
y/y 24.0%
23.9%≈ -6.7—
2025-12-31Q4 2025 (3M)OK37.8
y/y 23.4%
6.3
y/y 43.6%
1.0
y/y 35.7%
7.3
y/y 42.5%
4.4
y/y 17.8%
4.0-0.8109.1
y/y 26.5%
77.7
y/y 27.3%
7.9%≈ -6.7—
2025-09-30Q3 2025 (3M)OK35.8
y/y 23.6%
5.8
y/y 61.8%
0.9
y/y 37.7%
6.8
y/y 58.0%
4.7
y/y 45.1%
5.4-0.698.9
y/y 19.5%
71.5
y/y 28.5%
27.0%≈ -6.7Link
2025-06-30Q2 2025 (3M)OK33.3
y/y 21.8%
5.2
y/y 34.8%
0.9
y/y 44.6%
6.1
y/y 36.2%
4.2
y/y 38.7%
4.2-0.494.2
y/y 15.7%
68.4
y/y 25.8%
25.8%≈ -6.7—
2025-03-31FY 2025 (12M)OK—
y/y 21.6%
—
y/y 23.4%
—
y/y -0.8%
—
y/y 18.8%
—
y/y 28.0%
——87.4
y/y 17.8%
63.2
y/y 27.5%
22.5%-6.7—
2024-12-31Q4 2024 (3M)OK30.6
y/y 22.6%
4.4
y/y 21.3%
0.7
y/y 1.5%
5.1
y/y 18.0%
3.7
y/y 30.4%
2.32.286.2
y/y 19.5%
61.0
y/y 26.3%
8.5%-4.3Link
2024-09-30Q3 2024 (3M)OK29.0
y/y 20.1%
3.6
y/y 18.6%
0.7
y/y -0.7%
4.3
y/y 15.1%
3.2
y/y 23.4%
3.5-0.782.8
y/y 21.0%
55.6
y/y 25.9%
23.6%-4.3Link
2024-06-30Q2 2024 (3M)OK27.4
y/y —
3.8
y/y —
0.6
y/y —
4.5
y/y —
3.1
y/y —
1.5-1.681.4
y/y —
54.4
y/y —
23.6%-6.5Link
2024-03-31FY 2024 (12M)OK—
y/y 17.6%
—
y/y 3.5%
—
y/y 13.8%
—
y/y 5.4%
—
y/y 18.7%
——74.2
y/y 11.2%
49.6
y/y 25.0%
22.3%-4.6—
2023-12-31Q4 2023 (3M)OK25.0
y/y —
3.6
y/y —
0.7
y/y —
4.4
y/y —
2.9
y/y —
4.5-0.672.1
y/y —
48.3
y/y —
8.2%-3.7Link
2023-09-30Q3 2023 (3M)OK24.1
y/y —
3.0
y/y —
0.7
y/y —
3.7
y/y —
2.6
y/y —
4.8-0.968.4
y/y —
44.2
y/y —
25.1%-4.4Link
2023-03-31FY 2023 (12M)OK83.5
y/y —
12.6
y/y —
2.7
y/y —
15.3
y/y —
9.2
y/y —
9.6-4.366.7
y/y —
39.7
y/y —
—-0.4—

Revenue & EBITDA

RevenueEBITDA

Quarterly values (INR mln)

010 00020 00030 00040 0002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Year-over-year change

0%20%40%60%2024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Cash flow

FCF (INR mln)

-2 00002 0004 0006 0002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Net debt / cash (INR mln)

-8 000-6 000-4 000-2 00002024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q22026 q4

Profit and cash

Profit is cash-backed
In a typical year of 2022–2026 operating cash flow came to 1.04x of reported net profit; after capex, 0.67x.
year20222023202420252026
cash flow / profit1.22x1.04x1.19x0.83x0.95x
accruals, % of assets—-0.5%-2.8%2.8%0.9%
Last twelve months (to 2025-Q3): 0.76x of profit came back as operating cash flow.
capex 1.1x of depreciation
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: +7.9%

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)
= (6 969 − 6 116) × 4.12
3 518
2. Current EV/EBITDA (LTM)
(Market cap + Net debt) ÷ EBITDA (LTM)
= (914 950 + -6 744) ÷ 28 743
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
= 0 + 0 + 0 − 0
0
5. Value created per year
(EBITDA growth × Target multiple + Cash flow − Dilution) ÷ Market cap
= (3 518 × 20.5 + 0) ÷ 914 950
+7.9%

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 steady →
Last-year revenue growth +24% vs +22% the year before — a +2.0 pp move. 3-year CAGR +21%.
revenue growth by year: 2024 +18% · 2025 +22% · 2026 +24%
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
2026-07-2718 INREx-dividend: 18 INR per sharePaidYahoo Finance (ex-div)
2026-01-2722 INREx-dividend: 22 INR per sharePaidYahoo Finance (ex-div)
2025-07-1415 INREx-dividend: 15 INR per sharePaidYahoo Finance (ex-div)
2025-01-3120 INREx-dividend: 20 INR per sharePaidYahoo Finance (ex-div)
2024-07-0910 INREx-dividend: 10 INR per sharePaidYahoo Finance (ex-div)
2024-01-3016 INREx-dividend: 16 INR per sharePaidYahoo Finance (ex-div)
2023-07-1111 INREx-dividend: 11 INR per sharePaidYahoo Finance (ex-div)
2023-01-2514 INREx-dividend: 14 INR per sharePaidYahoo Finance (ex-div)
2022-07-115.5 INREx-dividend: 5.5 INR per sharePaidYahoo Finance (ex-div)
2022-01-2710 INREx-dividend: 10 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 Persistent Systems — from primary filings.

Frequently asked questions

What is Persistent Systems's P/E ratio?
Persistent Systems trades at a P/E of 49.1x (price to trailing 12-month earnings).
What is Persistent Systems's EV/EBITDA?
Persistent Systems trades at 32.2x EV/EBITDA.
What is Persistent Systems's P/B ratio?
Persistent Systems trades at a P/B of 11.7x.
What is Persistent Systems's dividend yield?
Persistent Systems's trailing 12-month dividend yield is 0.7%.
What is Persistent Systems's return on equity (ROE)?
Persistent Systems's ROE is 23.8%.
What is Persistent Systems's market capitalization?
Persistent Systems's market cap is 915.0 bn INR.

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