3 Telecom and Enterprise Technology Services Provider, Cash Management Specialist and Digital Engineering Firm Stocks With a Strong Future Roadmap: Tech Mahindra, CMS Info Systems and Coforge
- October 26, 2026
- Posted by: Lakshit Sharma
- Category: Best Stocks
Tech Mahindra, CMS Info Systems and Coforge: ROE of 12.5% to 18.6% and FY22 to FY26 revenue CAGR of 5.6% to 26.3%. Prices as of 23 Oct 2026.
Quick Answer
The three IT services, cash and digital engineering stocks to watch are Tech Mahindra, CMS Info Systems and Coforge. Their return on equity ranges from 12.5% to 18.6%, and their revenue compound annual growth from FY22 to FY26 ranges from 5.6% to 26.3%. Tech Mahindra has the highest return on equity at 18.6%, while Coforge has the fastest revenue growth at 26.3% a year. Prices are based on the 23 October 2026 close, and this article is educational, not investment advice.
IT services, cash and digital engineering stocks offer a focused view of a sector where demand keeps widening. Tech Mahindra, CMS Info Systems and Coforge cover a telecom and enterprise technology services provider, a cash management specialist and a digital engineering firm.
This list covers three IT services, cash and digital engineering stocks with complete current figures: Tech Mahindra, CMS Info Systems and Coforge. Every figure comes from the latest reported financials and the 23 October 2026 market close. Companies without complete current figures were left out.
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What Are IT Services, Cash and Digital Engineering Stocks?
IT services, cash and digital engineering stocks are listed service companies that run technology projects for global clients and manage cash logistics for banks and retailers. Their earnings depend on client budgets, deal wins, utilisation and deployment of new services.
IT Services, Cash and Digital Engineering Stocks at a Glance
| Company | CMP (Rs) | Market Cap (Rs Cr) | P/E | Industry P/E | ROE (%) | D/E |
|---|---|---|---|---|---|---|
| Tech Mahindra | 1,790 | 175,398 | 31.5 | 17.6 | 18.6 | 0.07 |
| CMS Info Systems | 202.31 | 3,380 | 11.5 | 36.2 | 12.5 | 0.09 |
| Coforge | 1,900.5 | 85,024 | 44.3 | 17.5 | 16.3 | 0.08 |
On valuation, CMS Info Systems trades at a P/E below the industry P/E, while Tech Mahindra and Coforge trade above it, which reflects the growth the market already expects. Readers comparing IT services, cash and digital engineering stocks should look at return on equity and debt together, since a high return earned with low debt is easier to sustain.
Why Do IT Services, Cash and Digital Engineering Stocks Have a Strong Roadmap in India?
IT services, cash and digital engineering stocks have a strong roadmap in India because digital spending by global clients, bank outsourcing and rising cash handling needs keep lifting demand for services.
- Digital projects. Clients spend on cloud, data and network work.
- Bank outsourcing. Lenders hand cash logistics to specialists.
- Deal wins. Large contracts add multi-year revenue.
Why Tech Mahindra Features Among These IT Services, Cash and Digital Engineering Stocks
Among the IT services, cash and digital engineering stocks on this list, Tech Mahindra is a Mahindra Group technology services company that provides digital, network and enterprise services to clients in telecom, manufacturing, banking and other industries worldwide.
Revenue rose 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 from Rs 2,397 crore in FY24 to Rs 4,806 crore in FY26, which works out to a compound annual growth rate of 41.6%.
The company has a return on equity of 18.6%, a debt to equity ratio of 0.07 and a market capitalisation of Rs 175,398 crore. The stock trades at a P/E of 31.5, above the industry P/E of 17.6.
Roadmap: The company is investing in artificial intelligence, cloud and 5G related services and deepening ties with large clients. Large deal wins in telecom and enterprise work support its pipeline.
What to watch: Track large deal wins, margin improvement and demand from telecom and enterprise clients.
Why CMS Info Systems Features Among These IT Services, Cash and Digital Engineering Stocks
Among the telecom technology services company shares on this list, CMS Info Systems provides cash management services, including ATM replenishment, cash pick-up and delivery, and managed services such as brown-label ATMs.
In the June 2026 quarter, revenue grew 0.9% year on year to Rs 650 crore. Revenue rose from Rs 1,598 crore in FY22 to Rs 2,533 crore in FY26, a compound annual growth rate of 12.2%.
Net profit grew from Rs 224 crore in FY22 to Rs 303 crore in FY26, which works out to a compound annual growth rate of 7.9%. The company has a return on equity of 12.5%, a debt to equity ratio of 0.09 and a market capitalisation of Rs 3,380 crore. The stock trades at a P/E of 11.5, below the industry P/E of 36.2.
Roadmap: Its cash logistics network covers a large number of locations, and it is adding managed services and technology-led businesses that need less capital. These services bring recurring contracts with banks.
What to watch: Follow growth in the managed services segment and trends in cash usage.
Why Coforge Features Among These IT Services, Cash and Digital Engineering Stocks
Among the three companies on this list, Coforge is a global IT services company that offers digital engineering, cloud, data and application services to clients in travel, banking, insurance and other industries.
The company has a return on equity of 16.3%, a debt to equity ratio of 0.08 and a market capitalisation of Rs 85,024 crore. The stock trades at a P/E of 44.3, above the industry P/E of 17.5.
Revenue rose from Rs 6,484 crore in FY22 to Rs 16,476 crore in FY26, a compound annual growth rate of 26.3%. Net profit grew from Rs 715 crore in FY22 to Rs 1,674 crore in FY26, which works out to a compound annual growth rate of 23.7%. In the June 2026 quarter, revenue grew 49.2% year on year to Rs 5,554 crore, while net profit rose 49.2% to Rs 532 crore.
Roadmap: The company focuses on large, long-running deals in sectors where it has deep domain strength. A rising share of cloud and data work and the acquisition of a leading digital services business have strengthened its pipeline.
What to watch: Check the order intake and the pace of large deal conversion.
Tech Mahindra vs CMS Info Systems vs Coforge on Key Financials
The table below sets the three IT services, cash and digital engineering stocks side by side on revenue, profit and margin, using reported figures.
| Company | FY22 Revenue (Rs Cr) | FY26 Revenue (Rs Cr) | Revenue CAGR (FY22-FY26) | FY26 Net Profit (Rs Cr) | FY26 Net Margin |
|---|---|---|---|---|---|
| Tech Mahindra | 45,758 | 56,847 | 5.6% | 4,806 | 8.5% |
| CMS Info Systems | 1,598 | 2,533 | 12.2% | 303 | 12.0% |
| Coforge | 6,484 | 16,476 | 26.3% | 1,674 | 10.2% |
Tech Mahindra posts the highest return on equity in this group at 18.6%. Tech Mahindra has the largest FY26 revenue at Rs 56,847 crore, and Coforge shows the fastest revenue growth with a 26.3% compound annual rate. A useful habit with IT services, cash and digital engineering stocks is to check each new quarterly result against the capacity plans the company described earlier.
Key Risks to Check Before Investing in IT Services, Cash and Digital Engineering Stocks
Every theme carries risks that deserve a check before any decision. For these IT services, cash and digital engineering stocks, the main points are: Long-term telecom technology services company shares holders usually track revenue growth, margins and cash flow side by side rather than relying on a single ratio.
- Client budgets. Global spending cycles can change orders.
- Currency moves. Export earnings move with the rupee.
- Valuation levels. Some of these companies trade at high earnings multiples, so growth must continue to justify them.
Treat this list as a starting point for research and not as a recommendation. Read the latest results presentation, check the management commentary on order books or capacity plans, and compare each company with its peers before you decide anything.
Use the Univest Stock Screener to filter IT services, cash and digital engineering stocks by market capitalisation, P/E, ROE and growth, and build your own shortlist.
Final Thoughts on IT Services, Cash and Digital Engineering Stocks
IT services, cash and digital engineering stocks reward patient research into demand, execution and financial strength. Tech Mahindra, CMS Info Systems and Coforge each have a clear plan to grow. Based on the 23 October 2026 close, Tech Mahindra trades at Rs 1,790, CMS Info Systems at Rs 202.31 and Coforge at Rs 1,900.5.
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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).
What are IT services, cash and digital engineering stocks?
Ans. IT services, cash and digital engineering stocks are listed service companies that run technology projects for global clients and manage cash logistics for banks and retailers. Their earnings depend on client budgets, deal wins, utilisation and deployment of new services. This list looks at three of them, Tech Mahindra, CMS Info Systems and Coforge, using reported FY22 to FY26 financials and the 23 October 2026 closing prices.
Which IT services, cash and digital engineering stocks are covered in this list?
Ans. This list covers Tech Mahindra, CMS Info Systems and Coforge. Based on the 23 October 2026 close, Tech Mahindra traded at Rs 1,790, CMS Info Systems at Rs 202.31 and Coforge at Rs 1,900.5. Their return on equity ranges from 12.5% to 18.6%, and their revenue compound annual growth from FY22 to FY26 ranges from 5.6% to 26.3%.
Why do IT services, cash and digital engineering stocks have a strong future roadmap in India?
Ans. IT services, cash and digital engineering stocks have a strong roadmap in India because digital spending by global clients, bank outsourcing and rising cash handling needs keep lifting demand for services. The main drivers are as follows. Digital projects. Clients spend on cloud, data and network work. Bank outsourcing. Lenders hand cash logistics to specialists. Deal wins. Large contracts add multi-year revenue. Together these factors give the companies on this list a visible path for growth over the coming years.
How has Tech Mahindra performed financially?
Ans. Revenue rose 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 from Rs 2,397 crore in FY24 to Rs 4,806 crore in FY26, which works out to a compound annual growth rate of 41.6%. The company has a return on equity of 18.6%, a debt to equity ratio of 0.07 and a market capitalisation of Rs 175,398 crore. The stock trades at a P/E of 31.5, above the industry P/E of 17.6. Looking ahead, the company is investing in artificial intelligence, cloud and 5G related services and deepening ties with large clients. Large deal wins in telecom and enterprise work support its pipeline.
How has CMS Info Systems performed financially?
Ans. Revenue rose from Rs 1,598 crore in FY22 to Rs 2,533 crore in FY26, a compound annual growth rate of 12.2%. Net profit grew from Rs 224 crore in FY22 to Rs 303 crore in FY26, which works out to a compound annual growth rate of 7.9%. In the June 2026 quarter, revenue grew 0.9% year on year to Rs 650 crore. The company has a return on equity of 12.5%, a debt to equity ratio of 0.09 and a market capitalisation of Rs 3,380 crore. The stock trades at a P/E of 11.5, below the industry P/E of 36.2. Looking ahead, its cash logistics network covers a large number of locations, and it is adding managed services and technology-led businesses that need less capital. These services bring recurring contracts with banks.
How has Coforge performed financially?
Ans. Revenue rose from Rs 6,484 crore in FY22 to Rs 16,476 crore in FY26, a compound annual growth rate of 26.3%. Net profit grew from Rs 715 crore in FY22 to Rs 1,674 crore in FY26, which works out to a compound annual growth rate of 23.7%. In the June 2026 quarter, revenue grew 49.2% year on year to Rs 5,554 crore, while net profit rose 49.2% to Rs 532 crore. The company has a return on equity of 16.3%, a debt to equity ratio of 0.08 and a market capitalisation of Rs 85,024 crore. The stock trades at a P/E of 44.3, above the industry P/E of 17.5. Looking ahead, the company focuses on large, long-running deals in sectors where it has deep domain strength. A rising share of cloud and data work and the acquisition of a leading digital services business have strengthened its pipeline.
What risks should investors check before buying IT services, cash and digital engineering stocks?
Ans. Investors should check a few risks before buying IT services, cash and digital engineering stocks. Client budgets. Global spending cycles can change orders. Currency moves. Export earnings move with the rupee. Valuation levels. Some of these companies trade at high earnings multiples, so growth must continue to justify them. Reading the latest results presentation and comparing each company with its peers helps judge how these risks apply to each stock.
Is this list of IT services, cash and digital engineering stocks investment advice?
Ans. No. This article is educational and uses publicly available data as of the 23 October 2026 close. Please verify figures on NSE and BSE, read company filings and consult a SEBI registered adviser before investing. Univest is SEBI registered research analyst INH000013776.