Tech Mahindra Share Price Target 2027: What Earnings Say About Rs 2,160 and Rs 2,588
- November 11, 2026
- Posted by: Chaitanya Auti
- Category: Market
Tech Mahindra share price Rs 1,811.40 (11 November 2026). Base target Rs 2,160, bull Rs 2,588, downside risk Rs 1,440. PE 31.67. 52W range Rs 1,304.10 to Rs 1,860.00.
Quick Answer
The Tech Mahindra share price target for 2027 is Rs 2,160, about 19.2% above the current price of Rs 1,811.40. The bull case is Rs 2,588, and the downside risk level, which is not a target, is Rs 1,440. The base case assumes earnings per share grow 20.0% a year, a cap applied because the FY24 to FY26 pace was 42.8%, with the stock holding its PE of 31.67. These are model-based estimates built from reported financials, not guaranteed outcomes.
Investors weighing a Tech Mahindra target price for 2027 should start with where the stock sits today. At Rs 1,811.40 on 11 November 2026, it is 2.6% below its 52-week high of Rs 1,860.00 and 38.9% above its 52-week low of Rs 1,304.10. That range spans 43% from low to high, so the entry point matters as much as the Tech Mahindra price forecast itself.
This article builds the Tech Mahindra share price target from reported numbers only: five years of annual results, the last five quarters, the latest shareholding pattern and current valuation ratios from company filings and exchange data. Each scenario states its assumptions, so you can trace how the base case, the bull case and the downside risk level were reached and test them against your own view.
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Tech Mahindra Stock Analysis: Company Overview and Key Stats
Tech Mahindra (NSE: TECHM) has a market capitalisation of Rs 1,76,437 crore. In FY26 it reported revenue of Rs 56,847 crore and net profit of Rs 4,806 crore. The table collects the figures the Tech Mahindra share price target is built on.
| Metric | Value |
|---|---|
| Company | Tech Mahindra |
| NSE Ticker | TECHM |
| CMP (11 November 2026) | Rs 1,811.40 |
| 52-Week High | Rs 1,860.00 |
| 52-Week Low | Rs 1,304.10 |
| Market Cap | Rs 1,76,437 crore |
| PE Ratio (TTM) | 31.67 |
| Industry PE | 19.13 |
| Price to Book | 5.94 |
| Return on Equity | 18.62% |
| Debt to Equity | 0.07 |
| EPS (TTM) | Rs 56.84 |
| Dividend Yield | 2.83% |
| 12-Month Base Target | Rs 2,160 |
| Bull Case | Rs 2,588 |
| Downside Risk Level (not a target) | Rs 1,440 |
Why Is Tech Mahindra Share Price Target Set at Rs 2,160 for 2027?
The arithmetic is short. Trailing EPS of Rs 56.84 grown for one year gives a forward EPS estimate of Rs 68.21, and multiplying it by the unchanged PE of 31.67 gives the Rs 2,160 base-case Tech Mahindra stock target. The bull case adds faster earnings growth and a higher multiple, while the downside risk level assumes flat earnings and a lower multiple.
Earnings Growth Behind the Tech Mahindra Target Price: Five Years of Results
Tech Mahindra grew revenue from Rs 45,758 crore in FY22 to Rs 56,847 crore in FY26, a compound annual growth rate of 5.6%. Net profit grew more slowly, from Rs 5,630 crore to Rs 4,806 crore (-3.9% a year), which points to margin pressure alongside the sales growth.
| Financial Year | Revenue (Rs Cr) | Net Profit (Rs Cr) | EPS (Rs) | Dividend per Share (Rs) |
|---|---|---|---|---|
| FY22 | 45,758.30 | 5,630.10 | 62.81 | 30.00 |
| FY23 | 54,255.20 | 4,857.00 | 54.54 | 50.00 |
| FY24 | 52,912.40 | 2,396.80 | 26.58 | 40.00 |
| FY25 | 53,843.70 | 4,253.00 | 47.91 | 45.00 |
| FY26 | 56,847.30 | 4,805.50 | 54.19 | 51.00 |
FY26 revenue growth was 5.6%, close to the four-year average of 5.6%, and net profit moved up 13.0%. EPS rose from Rs 26.58 in FY24 to Rs 54.19 in FY26. The FY27 outlook for the Tech Mahindra price target depends on whether that EPS estimate keeps compounding.
Margins and the Latest Quarter
Tech Mahindra converted 8.5% of FY26 revenue into net profit, against 7.9% in FY25, within a five-year range of 4.5% to 12.3%. EBITDA margin was 15.5% in FY26 versus 14.5% in FY25.
In the September 2026 quarter, revenue was Rs 16,173 crore, up 15.2% from the same quarter a year earlier, while net profit of Rs 1,610 crore was up 34.0%. EBITDA came in at Rs 2,871 crore, up 30.0% year on year. The next quarterly result is the first test of whether the earnings assumption behind the Tech Mahindra stock target holds.
Balance Sheet and Cash Flow
Debt to equity stands at 0.07, and shareholders’ equity grew from Rs 27,381 crore in FY22 to Rs 30,077 crore in FY26. Operating cash flow in FY26 was Rs 6,172 crore against capital expenditure of Rs 695.70 crore, leaving free cash flow of Rs 5,476 crore, or 3.1% of the current market capitalisation. In FY25 free cash flow was Rs 5,192 crore.
Valuation Check for the Tech Mahindra Stock Target: PE, Price to Book and ROE
At a PE of 31.67 against an industry PE of 19.13, Tech Mahindra trades at a premium to its industry. Price to book is 5.94 on a book value of Rs 303.20 per share, and return on equity is 18.62%. A PE of 31.67 equals an earnings yield of 3.2%, and the FY26 dividend of Rs 51.00 per share gives a yield of 2.83%.
Shareholding Pattern and Institutional Holding
Promoters held 34.96% of Tech Mahindra in September 2026, and promoter holding has stayed near 34.96% since September 2025. Foreign institutional investors (FII) held 20.77% and domestic institutions (DII) held 35.68%, which puts total institutional holding at 56.45%. FII holding rose from 20.60% in September 2025 to 20.77% in September 2026. Public shareholders own the remaining 8.59%. A meaningful institutional holding adds a layer of research coverage and trading depth.
Tech Mahindra Share Price Targets for the Short Term and 12 Months
Short Term Tech Mahindra Stock Target Levels: Technical Setup
At Rs 1,811.40 on 11 November 2026, Tech Mahindra trades above its 50-day simple moving average of Rs 1,641.77 and above its 200-day exponential moving average of Rs 1,572.11. The 14-day RSI reads 46.0, which is neutral territory, and the MACD line sits below its signal line. The nearest resistance level is Rs 1,860.00 (52-week high) and the nearest support is Rs 1,641.77 (50-day simple moving average). A sustained move above Rs 1,860.00 would improve the short-term setup, while a close below Rs 1,641.77 would shift attention to the next support.
12 Month Tech Mahindra Target Price for 2027
The 12-month target of Rs 2,160 means a move of 19.2% up from Rs 1,811.40 over the next 12 months. It would also push the stock above its 52-week high of Rs 1,860.00. Anyone checking the Tech Mahindra share price target against their own view should focus on two inputs: the EPS estimate and the PE multiple.
How EPS Growth and PE Multiple Change the Tech Mahindra Target Price
| EPS Growth | PE 25.34 | PE 31.67 | PE 36.42 |
|---|---|---|---|
| 0.0% (EPS Rs 56.84) | Rs 1,440 | Rs 1,800 | Rs 2,070 |
| 20.0% (EPS Rs 68.21) | Rs 1,728 | Rs 2,160 | Rs 2,484 |
| 25.0% (EPS Rs 71.05) | Rs 1,800 | Rs 2,250 | Rs 2,588 |
Each cell multiplies the forward EPS estimate by the PE shown. Reading across a row shows what a de-rating or re-rating does to the Tech Mahindra price forecast, and reading down a column shows what earnings growth is worth at a fixed multiple.
Bull Case and Downside Risk for Tech Mahindra Stock Target in 2027
Bull Case Rs 2,588
The bull case Tech Mahindra price target needs EPS growth of 25.0%, which lifts forward EPS to Rs 71.05, and a PE multiple that rises 15% to 36.42. That gives Rs 2,588, 42.9% above the current price and above the 52-week high of Rs 1,860.00, so the stock would have to set a fresh 52-week high.
Downside Risk Level Rs 1,440
The downside risk level is not a target. It assumes EPS stays flat at Rs 56.84 and the PE falls 20% to 25.34. That gives Rs 1,440, 20.5% below the current price and above the 52-week low of Rs 1,304.10.
| Scenario | EPS Growth | PE Multiple | Price (Rs) | Change vs CMP |
|---|---|---|---|---|
| Bull Case | 25.0% | 36.42 | Rs 2,588 | +42.9% |
| Base Case | 20.0% | 31.67 | Rs 2,160 | +19.2% |
| Downside Risk | 0.0% | 25.34 | Rs 1,440 | -20.5% |
Key Risks to the Tech Mahindra Target Price for 2027
Growth Slowdown Risk for the Tech Mahindra Price Target
Revenue in the September 2026 quarter was up 15.2% year on year, and FY26 revenue growth was 5.6%. If growth slows from here, the EPS estimate behind the Tech Mahindra stock target will need revising.
Liquidity and Size Risk
Tech Mahindra has a market capitalisation of Rs 1,76,437 crore. Institutional holding is 56.45%, and promoters hold 34.96%. A company of this size trades with deep liquidity, so entry and exit are rarely a problem, and the larger risk is paying too much for slow earnings growth.
Valuation and Margin Risk
Net margin was 8.5% in FY26, so a small slip in costs moves profit noticeably. At a PE of 31.67 versus an industry PE of 19.13, a de-rating toward the downside-risk PE of 25.34 would cut the price even if earnings hold.
Market and Technical Risk
Technical indicators add short-term risk: the 14-day RSI is 46.0 and the MACD sits below its signal line. A broad fall in the Nifty 50 or the Sensex can override company fundamentals for weeks at a time.
How to Invest in Tech Mahindra
Start with the live price and volume. Any Tech Mahindra share price target is only as current as the data behind it, and the data here is as of 11 November 2026, so refresh the Rs 1,811.40 price before acting on any level.
Next, review the fundamentals yourself. The Univest Screener lets you check Tech Mahindra’s PE, ROE, debt and shareholding in one place.
Check Tech Mahindra fundamentals on the Univest Screener
Then compare the three Tech Mahindra target price scenarios with your own view. If you expect EPS growth below 20.0%, the base case is too optimistic for you; if you expect more, the bull case deserves weight.
Decide your position size and exit levels before you buy. The support and resistance levels above can serve as reference points, but they are not recommendations.
Finally, place the order through a SEBI-registered broker or the Univest app, and review the position after each quarterly result. Consult a SEBI-registered advisor if you are unsure.
Download the Univest iOS App or Univest Android App to track Tech Mahindra live price and get daily stock recommendations.
Conclusion
The Tech Mahindra share price target for 2027 is Rs 2,160 in the base case, with Rs 2,588 as the bull case. The support for that view is arithmetic you can check: EPS grew 42.8% a year over FY24 to FY26, and the stock trades at a PE of 31.67. The risks are equally concrete, including a PE of 31.67 that sits above the industry PE of 19.13 and a downside scenario that cuts the price 21% if earnings stall. Use these numbers as a framework for judging the Tech Mahindra price target, check them against the latest filings, and size any position to your own risk appetite.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
FAQs on Tech Mahindra Share Price Target 2027
What is the Tech Mahindra share price target for 2027?
Ans. The base-case Tech Mahindra share price target for 2027 is Rs 2,160, which is 19.2% above the price of Rs 1,811.40 on 11 November 2026. The bull case is Rs 2,588 and the downside risk level, which is not a target, is Rs 1,440. All three come from one method: forward EPS multiplied by a PE multiple, using only reported results. They are model estimates and not guaranteed outcomes, and the next quarterly result is the first check on the EPS assumption.
What is the Tech Mahindra share price today?
Ans. As of 11 November 2026, 9:53 AM IST, Tech Mahindra (NSE: TECHM) trades at Rs 1,811.40, up 0.35% on the day. That is 2.6% below the 52-week high of Rs 1,860.00 and 38.9% above the 52-week low of Rs 1,304.10. The market capitalisation of Rs 1,76,437 crore places it among large-cap stocks. Prices change through the trading session, so check the live quote before acting on any level in this article.
Is Tech Mahindra a buy or sell at the current price?
Ans. The data points both ways. On the positive side, EPS has grown 42.8% a year over FY24 to FY26 and the base case implies 19.2% upside; on the cautious side, the PE of 31.67 sits above the industry PE of 19.13, and the downside risk level of Rs 1,440 is 21% below the current price. Whether Tech Mahindra fits your portfolio depends on your time horizon, position size and risk appetite. Consult a SEBI-registered advisor before investing, as this article is not investment advice.
What are the bull case target and downside risk level for Tech Mahindra shares?
Ans. The bull case in the Tech Mahindra share price target for 2027 is Rs 2,588, which assumes 25.0% EPS growth and a PE of 36.42, a 15% re-rating from today’s multiple. That is 42.9% above the current price and above the 52-week high of Rs 1,860.00, so the stock would have to set a fresh 52-week high. The downside risk level is Rs 1,440, which assumes flat EPS and a PE of 25.34, 20% lower than today. It sits 20.5% below the current price and above the 52-week low of Rs 1,304.10, and it marks a risk to watch, not a target.
What are the main risks to the Tech Mahindra price target?
Ans. Four risks matter most for the Tech Mahindra share price target: slower revenue or profit growth, a PE de-rating, thin liquidity or size risk, and weakness in the broader market. The market capitalisation of Rs 1,76,437 crore means liquidity is deep, so the bigger risk is paying a full price for slow earnings growth. A fall to the downside-risk PE of 25.34 would cut the price even if earnings hold.
What is the PE ratio of Tech Mahindra and how does it compare with the industry?
Ans. The PE ratio of Tech Mahindra is 31.67, against an industry PE of 19.13, which is a premium to the industry. Price to book is 5.94 and return on equity is 18.62%, and the PE equals an earnings yield of 3.2%. The base case holds the PE unchanged, so the Tech Mahindra share price target moves only with earnings, while the bull and downside scenarios change the multiple by +15% and -20%.
Who owns Tech Mahindra, and what is the promoter holding?
Ans. Promoters held 34.96% of Tech Mahindra in September 2026. FII held 20.77%, DII held 35.68% and the public held 8.59%. Together the two institutional groups hold 56.45%. Shareholding is filed every quarter, so it is worth rechecking after each result.
What were Tech Mahindra’s latest quarterly results?
Ans. In the September 2026 quarter, Tech Mahindra reported revenue of Rs 16,173 crore (up 15.2% year on year) and net profit of Rs 1,610 crore (up 34.0%). For comparison, FY26 full-year revenue growth was 5.6% and net profit moved up 13.0%. Each new quarter either supports or weakens the EPS growth of 20.0% assumed in the base case.