Arthneeti

Persistent Systems Q2 FY27 Share Price & Earnings Call Analysis

₹5,880.00+0.55% today
Market cap
₹92,757 Cr
P/E
49.59
ROE
27.24%
PEG
1.79
Price to sales
5.52
Debt to equity
0.07
52W high / low
₹6,564 / ₹4,298
Sales growth (5Y)
28.63%
EBITDA margin
16.85%
Net profit margin
13.07%
Promoter holding
30.29%
Sales (last year)
₹16,801 Cr

Persistent Systems provides software engineering and strategy services to help companies implement and modernize their businesses. It has its own software and frameworks with pre-built integration and acceleration [1]. It also has partnership with providers such as Salesforce and AWS [2].

Guidance scorecard · Q2 FY27 call

What Persistent Systems Ltd's management guided
and where it ranks in IT - Software

#20of 38 in
IT - Software
Revenue10–20%MarginsFlatCapexPlannedFundraisingPlannedOrder bookWhat management said

RevenueQ1 FY27 call

10–20%
  • Persistent and Nagarro combined revenue is $2.9 billion, smaller than some peers but with significant growth potential.
  • Nagarro's revenue has been flat recently but is expected to turnaround and grow with Persistent's management rigor and technical capabilities.
  • The combined entity aims to grow by mining existing clients (180+ logos with $1M+ accounts) rather than hunting new logos.
  • Cannibalization between Persistent and Nagarro customers is minimal (single-digit overlaps), allowing room for organic growth.
  • The large $650 million new deal will contribute revenue and healthy margins from Q2 onwards.
  • Both companies focus on AI-led digital engineering, expected to drive growth.
  • Persistent's historical 5-year CAGR is high at 23.9%, and they aim to bring similar growth momentum to Nagarro.

2 more points from Persistent Systems Ltd's call on revenue

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Full Q1 FY27 analysis

MarginsQ1 FY27 call

Flat

See what Persistent Systems Ltd said on margins — free account, 30 seconds.

Full Q1 FY27 analysis

CapexQ1 FY27 call

Planned
  • Persistent Systems is moving away from heavy CapEx models to more OpEx-oriented funding, particularly for working capital and infrastructure.
  • The company plans to bring the best practices from both Persistent and Nagarro to improve cash flow and manage debt servicing effectively.
  • Synergies and growth initiatives post-acquisition will involve investing cost savings back into growth-related and expansion initiatives.

2 more points from Persistent Systems Ltd's call on capex

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Full Q1 FY27 analysis

FundraisingQ1 FY27 call

Planned

See what Persistent Systems Ltd said on fundraising — free account, 30 seconds.

Full Q1 FY27 analysis

Order bookQ1 FY27 call

  • Persistent mentioned a significant new deal with $650 million in Annual Contract Value (ACV) expected to start contributing from Q2 onwards.
  • The company emphasized confidence in continued growth momentum despite various headwinds and tailwinds.
  • There is mention of a large portfolio of $1 million+ accounts (over 350 million $1M+ accounts combined between Persistent and Nagarro) with potential for mining and cross-selling.

2 more points from Persistent Systems Ltd's call on the order book

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Full Q1 FY27 analysis
Full IT - Software ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in IT - Software
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. CapitalNumbersGood growth
    3
See all potential multibaggersWhere does Persistent Systems Ltd rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

IT - Software companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 2%+₹569 Cr34.7
240%+Flat₹336 Cr7.3
3CapitalNumbers20–40%Up 2%+₹181 Cr9.2
420–40%Up 2%+₹159 Cr11.5
520–40%Up 0–2%₹1,826 Cr28.5
620–40%Flat₹4,341 Cr84.7

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Persistent Systems Ltd announcements

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Financials of Persistent Systems Ltd

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Shareholder Pattern

Persistent Systems Ltd

Shareholding breakup across reporting periods.

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters +31.06%31.02%31.02%30.66%30.66%30.66%30.56%30.56%30.29%30.29%30.29%30.29%
FIIs +24.55%24.96%22.55%23.34%24.75%24.36%24.19%21.24%22.79%22.11%20.79%20.79%
DIIs +26.13%25.88%28.23%27.37%26.26%26.85%27.77%30.60%29.80%30.47%30.25%31.96%
Public +16.91%17.03%17.51%16.96%17.22%17.28%16.88%17.14%16.21%16.14%17.99%16.39%
Others +1.34%1.12%0.69%1.67%1.09%0.83%0.60%0.45%0.88%0.96%0.66%0.55%
No. of Shareholders1,85,7281,89,5702,30,0632,28,5342,39,6822,38,7952,43,4412,54,8972,33,7872,40,5182,84,9832,50,872

Financials of Persistent Systems Ltd

Quarterly Results

Quarter-by-quarter operating performance

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales +2,4122,4982,5912,7372,8973,0623,2423,3343,5813,7784,0564,3034,664
Expenses +2,0072,0562,1362,2822,4162,5242,6582,7222,8983,0453,2883,6064,030
Operating Profit405442454455481538584612683733768697633
OPM %17%18%18%17%17%18%18%18%19%19%19%16%14%
Other Income +373831314743185552-49337124
Interest12121014181618171819192938
Depreciation7479807174827994100101109115167
Profit before tax356389395401435482505555617565674623454
Tax %26%26%20%24%25%23%22%23%24%22%21%22%23%
Net Profit +263286315306325373396425471439529483352
EPS in Rs17.1118.5920.4719.8921.0224.1225.5927.1730.1527.8633.5530.6222.28

Financials of Persistent Systems Ltd

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales +1,8912,3122,8783,0343,3663,5664,1885,7118,3519,82211,93914,74816,801
Expenses +1,5011,9212,4132,5652,8103,0733,5054,7536,8318,1469,88111,95313,970
Operating Profit3903924654695564936839581,5191,6762,0582,7962,831
OPM %21%17%16%15%17%14%16%17%18%17%17%19%17%
Other Income +94778411988132108144411281389180
Interest00000661247476773104
Depreciation9499149158157166176166272309307403491
Profit before tax3903704014294864526099241,2411,4481,8222,4112,316
Tax %25%25%25%25%28%25%26%25%26%24%23%23%
Net Profit +2912773013233523404516909211,0931,4001,8651,803
EPS in Rs18.1617.3318.8420.1921.9822.2629.4845.1560.2470.9890.54118.23114.31
Dividend Payout %41%23%24%25%25%27%34%34%41%37%39%34%

Financials of Persistent Systems Ltd

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital80808080797676767677787979
Reserves1,3261,5781,8192,0472,2662,3092,7193,2923,8894,8816,2417,7598,511
Borrowings +433227198578655451311477575
Other Liabilities +3654594335145096357711,4731,9991,9972,0923,0293,866
Total Liabilities1,7752,1202,3352,6442,8563,0923,6665,4196,6197,4058,72211,34413,031
Fixed Assets +4084375365124014324571,5342,3412,2212,5412,8563,971
CWIP427295323012107163477389
Investments6746386848807649791,0008226408279801,6151,354
Other Assets +6891,0181,0861,2471,6591,6522,1972,9563,6224,3245,1236,8367,697
Total Assets1,7752,1202,3352,6442,8563,0923,6665,4196,6197,4058,72211,34413,031

Financials of Persistent Systems Ltd

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +3122542864214323527368459561,3021,1571,767
Cash from Investing Activity +-230-86-222-337-233-6-540-971-383-525-517-618
Cash from Financing Activity +-66-127-58-96-160-329-144182-404-582-628-748
Net Cash Flow16416-123916525616919612401
Free Cash Flow21689703563952776114645249479641,572
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit105%91%84%116%103%98%131%113%85%98%81%86%

Financials of Persistent Systems Ltd

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days696760585361506169628283
Inventory Days
Days Payable
Cash Conversion Cycle696760585361506169628283
Working Capital Days29404953433725420244750
ROCE %29%23%23%20%20%18%21%26%30%29%31%34%

Guidance history

How Persistent Systems Ltd's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q1 FY27 call →10–20%FlatPlannedPlanned—
Q1 FY27 call →10–20%FlatPlannedPlanned—
Q4 FY26 call →10–20%FlatPlanned——
Q3 FY26 call →20–40%FlatPlanned—Rising

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

69out of 100

Momentum score · price trend

69 out of 100 — Steady

Over the past year its share price has moved roughly in the middle of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−0.2%60%
Last 6 months+22.5%76%
Last 3 months+6.6%75%
How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Persistent Systems Ltd: 0.4 × 60 + 0.4 × 76 + 0.2 × 75 = 69.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What Persistent Systems Ltd's management said in earlier quarters

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