StrengthTalking point
Profit outpacing revenue
Profit grew 33.2% while revenue grew 23.5%, so the company kept more of each rupee of revenue as profit.
Importance 61 / 95 · growth
Persistent Systems Limited · Research view
Persistent Systems Limited
NSE: PERSISTENTBSE: 533179ISIN INE262H01021Face value ₹5consolidated
₹5,356
+1.34% · 2026-10-01 · 52-wk ₹4,299–₹6,564
Financials to FY2026 · 8 years of history · prices to 2026-10-01consolidatedstandalone
Section 02 · Synthesis
What stands out?
The strongest observations the engine found, ranked. Every line is generated from the filed numbers by a fixed rule — no opinion, no estimate.
StrengthConcernWatchContext
StrengthTalking point
Book value compounding
Net worth compounded at 18.8% a year over 7 years (₹2,345 → ₹7,838).
Importance 57 / 95 · financial health
StrengthTalking point
Returns at a multi-year high
ROE of 26.3% is the highest in 7 years (prior range 14.4% to 25.1%).
Importance 54 / 95 · profitability
Section 03 · The company
Who is this company?
Classified by the exchange under Information Technology › Information Technology › IT - Software › Computers - Software & Consulting.
- Market cap
- ₹84,491 cr
- FY2026 revenue
- ₹14,748 cr
- FY2026 net profit
- ₹1,865 cr
- Net worth
- ₹7,838 cr
- Total debt
- ₹0 crnet cash
- EPS (basic)
- ₹119.74
- Listed
- NSE · BSE
- Reporting
- Ind-ASApr–Mar
Peer set used on this page: 9 computers - software & consulting.
Section 04 · Business performance
Is the business growing?
RevenueNet profit
Strength
Profit grew 33.2% while revenue grew 23.5%, so the company kept more of each rupee of revenue as profit.
Rule PROFIT_FASTER_THAN_REVENUE
- Revenue growth per year
- +23.5%over 7 years
- Revenue growth
- +23.5%vs last year
- Net profit growth
- +33.2%vs last year
- Change in net profit since FY19
- +430%
Revenue compounded at 23.5% a year over 7 years (₹3,366 → ₹14,748) — though FY2023 saw a one-off step-change of 46% (a merger, restructuring or a recovery off a low base), so the compounding is uneven.
Net profit grew 33.2% year on year (FY2025 → FY2026).
Revenue grew 23.5% year on year (FY2025 → FY2026).
Section 05 · Recent activity
What changed recently?
Quarterly results, the trailing-twelve-months snapshot, and verified corporate actions — kept separate from each other and from the annual story above. Every figure traces to a filed number; nothing here is external news or commentary.
Strength
Q1 FY27 revenue was ₹4,303 cr, up 29.1% from ₹3,334 cr in Q1 FY26 a year earlier.
Rule QTR_REVENUE_GROWTH_YOY
Strength
Q1 FY27 net profit was ₹483 cr, up 13.7% from ₹425 cr a year earlier.
Rule QTR_PROFIT_GROWTH_YOY
Watch
Q1 FY27 interest (finance cost) was ₹29 cr, up 70.8% from ₹17 cr a year earlier.
Rule QTR_INTEREST_EXPENSE_CHANGE_YOY
A. Quarterly results
RevenueNet profit
| Quarter | Revenue | YoY | Net profit | YoY | Net margin |
|---|---|---|---|---|---|
| Q2 FY25 | 2,897 | — | 325 | — | 11.2% |
| Q3 FY25 | 3,062 | +22.6% | 373 | +30.4% | 12.2% |
| Q4 FY25 | 3,242 | +25.2% | 396 | +25.5% | 12.2% |
| Q1 FY26 | 3,334 | +21.8% | 425 | +38.7% | 12.7% |
| Q2 FY26 | 3,581 | +23.6% | 471 | +45.1% | 13.2% |
| Q3 FY26 | 3,778 | +23.4% | 439 | +17.8% | 11.6% |
| Q4 FY26 | 4,056 | +25.1% | 529 | +33.7% | 13.0% |
| Q1 FY27 | 4,303 | +29.1% | 483 | +13.7% | 11.2% |
B. TTM snapshot
Trailing twelve months to 30 Jun 2026 · sum of the last 4 contiguous quarters
- Revenue
- ₹15,718 crTTM
- EBITDA
- ₹3,077 crTTM
- EBIT
- ₹2,653 crTTM
- PBT
- ₹2,479 crTTM
- Net profit
- ₹1,923 crTTM
C. Corporate actions
27 Jul 2026DividendFinal Dividend - Rs. - 18.0000 — ₹18.00/share
27 Jan 2026DividendInterim Dividend - Rs. - 22.0000 — ₹22.00/share
14 Jul 2025DividendFinal Dividend - Rs. - 15.0000 — ₹15.00/share
31 Jan 2025DividendInterim Dividend - Rs. - 20.0000 — ₹20.00/share
9 Jul 2024DividendFinal Dividend - Rs. - 10.0000 — ₹10.00/share
28 Mar 2024Stock splitStock Split From Rs.10/- to Rs.5/- — 10:5
30 Jan 2024DividendInterim Dividend - Rs. - 32.0000 — ₹32.00/share
11 Jul 2023DividendFinal Dividend - Rs. - 12.0000 — ₹12.00/share
11 Jul 2023DividendSpecial Dividend - Rs. - 10.0000 — ₹10.00/share
25 Jan 2023DividendInterim Dividend - Rs. - 28.0000 — ₹28.00/share
11 Jul 2022DividendFinal Dividend - Rs. - 11.0000 — ₹11.00/share
27 Jan 2022DividendInterim Dividend - Rs. - 20.0000 — ₹20.00/share
13 Jul 2021DividendFinal Dividend - Rs. - 6.0000 — ₹6.00/share
9 Feb 2021DividendInterim Dividend - Rs. - 14.0000 — ₹14.00/share
18 Mar 2020DividendInterim Dividend - Rs. - 3.0000 — ₹3.00/share
6 Feb 2020DividendInterim Dividend - Rs. - 9.0000 — ₹9.00/share
11 Jul 2019DividendFinal Dividend - Rs. - 3.0000 — ₹3.00/share
4 Feb 2019DividendInterim Dividend - Rs. - 8.0000 — ₹8.00/share
19 Jul 2018DividendFinal Dividend - Rs. - 3.0000 — ₹3.00/share
2 Feb 2018DividendInterim Dividend - Rs. - 7.0000 — ₹7.00/share
12 Jul 2017DividendFinal Dividend - Rs. - 3.0000 — ₹3.00/share
31 Jan 2017DividendInterim Dividend - Rs. - 6.0000 — ₹6.00/share
17 Mar 2016DividendInterim Dividend - Rs. - 3.0000 — ₹3.00/share
2 Feb 2016DividendInterim Dividend - Rs. - 5.0000 — ₹5.00/share
16 Jul 2015DividendFinal Dividend - Rs. - 2.5000 — ₹2.50/share
Section 06 · Business performance
Is it becoming more profitable?
EBITDA marginNet margin
Strength
ROE of 26.3% is the highest in 7 years (prior range 14.4% to 25.1%).
Rule ROE_AT_MULTI_YEAR_HIGH
- EBITDA margin now
- 20.2%
- 8-year range
- 17.5–20.2%
- ROE FY2026
- 26.3%
- ROCE FY2026
- 36.3%
ROE improved from 24.8% to 26.3% year on year.
EBITDA margin improved from 18.4% to 20.2% of revenue.
Section 07 · Financial health
Is financial health improving?
Net worth (shareholders' funds)
Strength
Net worth compounded at 18.8% a year over 7 years (₹2,345 → ₹7,838).
Rule NET_WORTH_COMPOUNDING
Operating cash flowNet profit
- Total debt
- ₹0 crnet cash
- Operating cash flow ÷ net profit
- 0.95×FY2026
- Free cash flow
- ₹1,572 cr
- Current ratio
- 2.43×
Free cash flow has been positive in 6 of the last 6 years.
Section 08 · Relative position
How does it compare with peers?
Ranked against 9 computers - software & consulting (FY2026, consolidated).
Revenue growth
PERSISTENT · 2nd of 9 · set median 11.2%
EBITDA margin
PERSISTENT · 7th of 9 · set median 20.8%
Return on equity
PERSISTENT · 3rd of 9 · set median 21.3%
P/E ratio
PERSISTENT · 9th of 9 · set median 22.5×
Context
Trades at 43.93× earnings — 95% above the computers software and consulting median of 22.52×.
Rule PE_ABOVE_PEERS
- P / E
- 43.9×TTM to Jun 26
- P / B
- 10.8×latest book
- P / S
- 5.4×TTM sales
- Earnings yield
- 2.3%TTM to Jun 26
On the trailing twelve months. Last full year: P/E 45.3× · P/S 5.7× · ROE 26.3%.
Section 09 · The stock
How has the stock performed?
Context
Over 5 years profit compounded at 32.9% a year while the stock returned 24.1% a year — but FY2021 profit (₹451) was well below the through-cycle level (~₹806), so this rate is inflated by the recovery from a low base.
Rule STOCK_LAGGED_EARNINGS · recovery
- 1-year return
- +8.1%
- 3-year return
- +84.8%
- 5-year return
- +194.0%
- From 52-wk high
- −18.4%
Section 10 · Technical data
What does the technical data say?
Price-action indicators as of 2026-10-01. Secondary to the fundamentals above — included for timing context, not as a signal.
- vs 50-day avg
- Below₹5,490
- vs 200-day avg
- Below₹5,376
- RSI (14)
- 46.8neutral
- MACD histogram
- -18.3
- From 52-wk high
- −18.4%
- From 52-wk low
- +24.6%
- 30-day volatility
- 29.9%ann.
- 6-month return
- +9.8%
Section 11 · Open questions
What should I investigate further?
Observations the engine tagged watch or deteriorating — prompts for your own research, not conclusions.
- WatchReceivables stretchingReceivable days rose from 56 to 83 — collections are slower.RECEIVABLE_DAYS_JUMP · conviction 50
- Cash-flow-statement facts are unavailable for FY2019, FY2020 — those filings predate SEBI's Cash Flow Statement disclosure requirement. All other loaded years carry full P&L, balance sheet and cash-flow data.
Section 12 · Reference
The numbers
The full statements, kept deliberately secondary. Every figure traces to a BSE Integrated Filing (inline XBRL); ratios are recomputed from the normalised facts.
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 3,366 | 3,566 | 4,188 | 5,711 | 8,351 | 9,822 | 11,939 | 14,748 |
| Total income | 3,454 | 3,698 | 4,296 | 5,855 | 8,421 | 9,950 | 12,077 | 14,929 |
| EBITDA | 644 | 625 | 791 | 1,102 | 1,590 | 1,804 | 2,196 | 2,976 |
| Profit before tax | 486 | 452 | 609 | 924 | 1,241 | 1,448 | 1,822 | 2,411 |
| Net profit | 352 | 340 | 451 | 690 | 921 | 1,093 | 1,400 | 1,865 |
| EPS (₹) | 88.9 | 44.4 | 59.0 | 90.3 | 123.7 | 72.4 | 91.2 | 119.7 |
| Net worth | 2,345 | 2,386 | 2,796 | 3,368 | 3,965 | 4,958 | 6,319 | 7,838 |
| Total debt | 1 | 5 | 5 | 433 | 429 | 207 | 0 | 0 |
| Operating cash flow | — | — | 736 | 845 | 956 | 1,221 | 1,157 | 1,767 |
| Free cash flow | — | — | 608 | 464 | 524 | 942 | 768 | 1,572 |
| Ratio | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| Growth | ||||||||
| Revenue growth YoY | — | 5.9 | 17.4 | 36.4 | 46.2 | 17.6 | 21.6 | 23.5 |
| Profit growth YoY | — | -3.2 | 32.4 | 53.2 | 33.4 | 18.7 | 28.0 | 33.2 |
| Profitability | ||||||||
| EBITDA margin % | 19.1 | 17.5 | 18.9 | 19.3 | 19.0 | 18.4 | 18.4 | 20.2 |
| Net margin % | 10.2 | 9.2 | 10.5 | 11.8 | 10.9 | 11.0 | 11.6 | 12.5 |
| Return on equity % | 15.0 | 14.4 | 17.4 | 22.4 | 25.1 | 24.5 | 24.8 | 26.3 |
| Return on capital % | 20.7 | 19.4 | 23.7 | 28.4 | 32.2 | 31.3 | 32.9 | 36.3 |
| Leverage & cash | ||||||||
| Debt to equity | 0.00 | 0.00 | 0.00 | 0.13 | 0.11 | 0.04 | 0.00 | 0.00 |
| Cash flow ÷ profit | — | — | 1.63 | 1.22 | 1.04 | 1.12 | 0.83 | 0.95 |
| Current ratio | 3.90 | 3.07 | 3.47 | 1.99 | 1.80 | 1.91 | 2.36 | 2.43 |