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MPHASIS - Fundamental Analysis: Financial Health & Valuation

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Rating: 4.1

Last Updated Time : 02 Feb 26, 01:17 pm

Fundamental Rating: 4.1

Stock Code MPHASIS Market Cap 52,757 Cr. Current Price 2,770 ₹ High / Low 3,037 ₹
Stock P/E 37.0 Book Value 307 ₹ Dividend Yield 2.06 % ROCE 33.7 %
ROE 25.2 % Face Value 10.0 ₹ DMA 50 2,822 ₹ DMA 200 2,773 ₹
Chg in FII Hold 1.27 % Chg in DII Hold 8.18 % PAT Qtr 364 Cr. PAT Prev Qtr 393 Cr.
RSI 44.7 MACD -17.2 Volume 1,68,239 Avg Vol 1Wk 4,22,831
Low price 2,025 ₹ High price 3,037 ₹ PEG Ratio 5.06 Debt to equity 0.09
52w Index 73.6 % Qtr Profit Var -3.19 % EPS 73.6 ₹ Industry PE 23.9

📊 Core Financials

  • Revenue & Profitability: Quarterly PAT declined slightly from 393 Cr. to 364 Cr. (-3.19%), but overall profitability remains strong. EPS at 73.6 ₹ reflects solid earnings power.
  • Margins: ROCE at 33.7% and ROE at 25.2% indicate excellent efficiency and profitability.
  • Debt: Debt-to-equity ratio of 0.09 shows negligible leverage, strengthening financial stability.
  • Cash Flow: Dividend yield of 2.06% provides steady shareholder returns, supported by strong cash generation.

💹 Valuation Indicators

  • P/E Ratio: 37.0 vs Industry PE of 23.9 → Premium valuation compared to peers.
  • P/B Ratio: Current Price (2,770 ₹) / Book Value (307 ₹) ≈ 9.0 → High, reflecting market confidence but expensive.
  • PEG Ratio: 5.06 → Suggests overvaluation relative to growth prospects.
  • Intrinsic Value: Current price trades above fair value zone, limiting near-term upside.

🏭 Business Model & Competitive Advantage

  • Mphasis operates in IT services, focusing on digital transformation, cloud, and next-gen solutions.
  • Strong client relationships and niche positioning in BFSI and digital services provide competitive edge.
  • High ROCE and ROE highlight operational excellence and scalability.

📈 Entry Zone & Long-Term Guidance

  • Entry Zone: Attractive accumulation range between 2,400 ₹ – 2,550 ₹, closer to support levels and below DMA 200.
  • Long-Term Holding: Strong fundamentals and low debt make it suitable for long-term investors, though current valuations suggest staggered buying.

✅ Positive

  • High ROCE (33.7%) and ROE (25.2%) indicate strong efficiency.
  • Low debt-to-equity ratio ensures financial resilience.
  • Dividend yield of 2.06% supports shareholder value.
  • Strong institutional support with FII (+1.27%) and DII (+8.18%) increases.

⚠️ Limitation

  • High P/E and P/B ratios make the stock expensive relative to peers.
  • PEG ratio of 5.06 signals overvaluation against growth.
  • Quarterly PAT decline (-3.19%) shows short-term weakness.

📉 Company Negative News

  • Quarterly PAT dropped from 393 Cr. to 364 Cr.
  • Volume weakness compared to average suggests reduced trading interest.

📈 Company Positive News

  • Strong institutional inflows: FII holding up 1.27%, DII holding up 8.18%.
  • Dividend yield above 2% provides consistent returns.
  • EPS of 73.6 ₹ highlights robust earnings capacity.

🌐 Industry

  • IT services sector benefits from global digital transformation demand.
  • Industry PE at 23.9 indicates peers trade at lower valuations, showing Mphasis commands a premium.

🔎 Conclusion

Mphasis demonstrates strong fundamentals with excellent return ratios, low debt, and institutional support. However, valuations are stretched with a high P/E, P/B, and PEG ratio. Investors may consider entering around 2,400–2,550 ₹ for long-term holding, while avoiding aggressive buying at current levels. The company remains fundamentally healthy and well-positioned in IT services, but patience is key for value-conscious investors.

I can also map out technical support and resistance levels using RSI, MACD, and DMA data to complement this fundamental view if you'd like.

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