Mphasis Share Price: 2.8% CAGR in 3 Years as the Bengaluru IT Firm Compares With Persistent Systems and Zensar

Mphasis previous close Rs 2,390. 3-year CAGR 2.8%. Up 1.1x since 10 Nov 2023. ROE 18.55%. Market cap Rs 45,694 crore.

The Mphasis share price has moved at a measured pace over three years, and the company keeps a healthy return on equity of 18.55%. Mphasis, based in Bengaluru, provides cloud, application and technology services to large banks, insurers and technology clients.

This article compares that run with Persistent Systems and Zensar Technologies. We calculate the three-year CAGR for all three and set the results beside market cap, valuation, return on equity and debt, using prices adjusted for corporate actions.

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How Much Has the Mphasis Share Price Returned in 3 Years?

The Mphasis stock closed at Rs 2,202.20 on 10 November 2023 and at Rs 2,390.00 on 11 November 2026. Rs 1 lakh invested three years ago would have grown to about Rs 1.09 lakh, which is a CAGR of 2.8%. This is a price return and leaves out dividends.

CAGR condenses a bumpy three-year ride into one yearly number, which is why it is the fairest way to compare companies of different sizes. A stock such as Mphasis can look spectacular on a chart and still have earned a modest yearly return, so the compounded figure keeps the comparison honest.

The Mphasis share price has also followed client spending on cloud and data projects, with a heavy focus on banking and insurance customers in the United States.

Mphasis vs Persistent Systems and Zensar Technologies: 3-Year CAGR Compared

The table ranks the companies by three-year CAGR. Prices on 10 November 2023 are adjusted for splits and bonuses, and the latest figures are the previous close on 11 November 2026.

Company	Close on 10 Nov 2023	Previous close (11 Nov 2026)	Price multiple	3-year CAGR
Persistent Systems	Rs 3,123.07	Rs 5,973.50	1.9x	24.1%
Zensar Technologies	Rs 481.00	Rs 553.45	1.2x	4.8%
Mphasis	Rs 2,202.20	Rs 2,390.00	1.1x	2.8%

The Mphasis stock ranks third of the three at 2.8%. The companies ahead are Persistent Systems (24.1%) and Zensar Technologies (4.8%). Persistent Systems leads the group, followed by Zensar Technologies and then Mphasis. Persistent Systems is the largest of the three by market cap, and Mphasis sits in the middle on size and on ROE.

Look at the Mphasis share price alongside the peers as a snapshot of the last three years. It describes what happened, and valuation and earnings will decide what happens next.

Valuation and Quality Compared

Company	Market cap	P/E	Industry P/E	ROE	Debt to equity
Persistent Systems	Rs 1,00,063 crore	55.49	19.36	20.99%	0.07
Mphasis	Rs 45,694 crore	22.82	19.13	18.55%	0.30
Zensar Technologies	Rs 12,592 crore	16.05	19.13	16.11%	0.01

By market cap, Persistent Systems is the largest of the group at Rs 1,00,063 crore, while the Mphasis stock stands at Rs 45,694 crore, about 46% of that size. On earnings, Mphasis shares trade at a P/E of 22.82 against an industry P/E of 19.13, a premium of about 19%, which signals that the market expects faster earnings growth. Peer multiples are Persistent Systems at 55.49 and Zensar Technologies at 16.05.

Return on equity is 18.55% for the Mphasis stock, which ranks second among the three, and debt to equity stands at 0.30. Trailing EPS is Rs 104.87. IT services companies are valued on deal wins and margins, so the P/E should be read together with return on equity and the pace of revenue growth.

What Is Driving the Mphasis Stock?

Mphasis serves clients in banking, insurance, technology and logistics. It sells application development, cloud migration and data services, and it earns most of its revenue from the United States.

The company has a strong position with large financial services clients and keeps a low debt load. Its margins have been steady, and its focus on direct clients rather than only on partners supports pricing.

Followers of the Mphasis share price usually track deal wins, client additions, margins and headcount trends.

How the Established Players Stack Up

Persistent Systems is a Pune-based software engineering company that works with technology and healthcare clients. It compounded at 24.1% a year, on a market cap of Rs 1,00,063 crore and an ROE of 20.99%.

Zensar Technologies is a Pune-based IT services company in the RPG Group that provides digital, cloud and data services. It compounded at 4.8% a year, on a market cap of Rs 12,592 crore and an ROE of 16.11%.

What Should Investors Track Next?

Three things are worth watching on the Mphasis share price. First, new deal wins. Second, margins as the mix shifts toward digital work. Third, client spending in the United States.

At a P/E of 23, the stock trades slightly above the industry P/E of 19, and its debt to equity of 0.30 is low. Technology spending by clients can shift, so follow quarterly numbers closely.

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How to Compare IT Stocks Yourself

You can repeat this exercise for any pair of stocks, including the Mphasis stock against its peers. Note the adjusted closing price on the base date, take the latest close, divide one by the other, raise the result to the power of one third and subtract one. Then place the CAGR next to market cap, P/E against the industry P/E, ROE and debt to equity. Benchmark the result against the Nifty 50 as well, so you know whether the stock beat the broader market.

A stock that scores well on growth but weakly on quality, or the reverse, deserves closer study before it enters a portfolio. When tracking the Mphasis share price, the same four checks give a more complete picture than price alone.

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An IT Services Firm With a Healthy ROE and Low Debt

The Mphasis share price compounded at 2.8% a year over three years, behind Zensar at 4.8% and Persistent Systems at 24.1%. Its ROE of 18.55% and debt to equity of 0.30 point to a stable profile.

Persistent Systems brings the fastest return at a much higher multiple, while Zensar brings the lowest P/E. The choice depends on whether you prefer growth or a steadier profile.

Frequently Asked Questions

What is the Mphasis share price today?

Ans. Mphasis closed at Rs 2,390 on 11 November 2026, according to NSE data. It has a market cap of Rs 45,694 crore and a P/E of 22.82. Check live quotes before acting, as prices change every trading day.

What is the 3-year CAGR of the Mphasis stock?

Ans. Mphasis delivered a price CAGR of 2.8% over three years, moving from Rs 2,202.20 on 10 November 2023 to Rs 2,390.00 on 11 November 2026. The figure excludes dividends and uses adjusted closing prices.

Is Mphasis better than Zensar?

Ans. Zensar Technologies delivered a higher three-year CAGR at 4.8% than Mphasis at 2.8%. Mphasis is larger by market cap at Rs 45,694 crore against Rs 12,592 crore and has a higher ROE at 18.55% against 16.11%, while Zensar trades at a lower P/E of 16.05 against 22.82. The better choice depends on your view of each business.

What does Mphasis do?

Ans. Mphasis is a Bengaluru-based IT services company that provides cloud, application and technology services to clients in banking, insurance and technology.

Is the Mphasis stock debt free?

Ans. The debt to equity ratio of the Mphasis stock is 0.30 and its return on equity is 18.55%. Always check the latest balance sheet for current figures, as debt levels change with expansion plans.

Is Mphasis expensive compared with the industry?

Ans. Mphasis trades at a P/E of 22.82 against an industry P/E of 19.13. A higher multiple reflects expectations of faster growth, which the company must deliver through earnings.

Which IT stock gave the highest return in 3 years?

Ans. Among the companies compared here, Persistent Systems delivered the highest three-year CAGR at 24.1%, followed by Zensar Technologies at 4.8%. Past returns do not guarantee future performance.

How do I calculate CAGR for a stock?

Ans. Divide the latest price by the starting price, raise the result to the power of one divided by the number of years, and subtract one. Multiply by 100 for a percentage. Use split and bonus adjusted prices for accurate results.