KIRA
KIRA Research · IT / Technology · IT Services (Digital Engineering)

Persistent Systems Limited

NSE: PERSISTENT · BSE: 533179 · ISIN INE262H01021 · Data as of 2026-09-26
Research: READYConfidence: HIGHKIRA Score: Not yet scoredMidFigures: INR crore; basis shown per row

KIRA view

Consistent mid-cap IT outperformer with clean disclosure; premium valuation vs delivery record is the core question. Major strength: growth consistency. Major risk: concentration + valuation. ANALYSIS

Pillar 1 — Business Quality & Moat

Business overview, segments, revenue drivers, competitive position and industry standing.

Business overview

  • Mid-cap IT services: digital engineering, cloud, data/AI; Q4FY26 was the 24th consecutive quarter of revenue growth (S10). SOURCED S10

Revenue drivers

  • Client spending on digital/AI programmes ANALYSIS
  • Top-client mining ANALYSIS

Competitive position — peers

  • Coforge ANALYSIS
  • LTTS ANALYSIS
  • KPIT (adjacent) ANALYSIS
  • Mphasis ANALYSIS

Pillar 2 — Growth Quality

Revenue/AUM and profit growth, multi-year CAGR, growth consistency, growth drivers and relevant recent developments.

MetricPeriodValueBasisProvenanceSource
RevenueFY26US$1,654.4 mnConsol.SOURCEDS10
Revenue growth (YoY)FY2617.4%Consol.SOURCEDS10
Net profit (PAT)FY26₹18,651.2 mnConsol.SOURCEDS10
PAT growth (YoY)FY2633.2%Consol.SOURCEDS10
labour code hitFY260.6%Consol.SOURCEDS10
Dividend per shareFY26₹40Consol.SOURCEDS10
revenue INR croreFY26₹14,748.45 crConsol.SOURCEDS10
PAT INR croreFY26₹1,865.12 crConsol.SOURCEDS10

Growth drivers

  • 17.4% USD growth vs large-cap IT single digits ANALYSIS
  • AI-led deal wins ANALYSIS
  • Client mining ANALYSIS

Recent developments

  • FY26 results released 21 Apr 2026: revenue US$1,654.4 mn (+17.4%), PAT ₹18,651.2 mn (+33.2%); total FY26 dividend ₹40 per share; 24 consecutive growth quarters. SOURCED S10

Pillar 3 — Profitability & Return Ratios

Margins, ROE, ROCE, and ROA/NIM for financial companies.

MetricPeriodValueBasisProvenanceSource
EBIT marginFY2615.6%Consol.SOURCEDS10

Pillar 4 — Balance Sheet Strength

Debt, leverage, liquidity, capital adequacy and asset quality where applicable.

Notes

  • note: Typically net cash; detail pending ANALYSIS

Pillar 5 — Cash Flow & Earnings Quality

CFO, FCF, CFO/PAT, working capital and, for lenders, credit-cost quality.

Notes

  • note: Detail pending ANALYSIS

Pillar 6 — Governance & Shareholding

Promoter holding and pledge, FII/DII/public holding, auditor, board, regulatory actions and material litigation.

Shareholding

MetricPeriodValueBasisProvenanceSource
promoter %2026-06-3030.29%—SOURCEDS11
institutions domestic2026-06-3030.24%—SOURCEDS11
institutions foreign2026-06-3020.79%—SOURCEDS11
non institutions2026-06-3018.01%—SOURCEDS11
employee benefit trust2026-06-300.66%—SOURCEDS11

Shareholding notes

  • Promoter & promoter group 30.29% as of 30-Jun-2026, nil pledge (S11). SOURCED S11

Governance, regulatory & litigation

  • Promoter & promoter group 30.29% (30-Jun-2026); promoter shares not pledged. [Company filing] SOURCED S11

Pillar 7 — Valuation Comfort

P/E, P/B, EV/EBITDA, dividend yield, historical and peer context — descriptive only; no price target.

NOT VERIFIED — no verified data for this pillar yet.

Pillar 8 — Technical Confirmation

Informational only: long-term trend context when properly sourced. No entry levels, targets, stop-losses or calls.

No sourced technical data. This pillar is informational only and never carries entry levels, targets, stop-losses or buy/sell/hold calls.

Material risks

  • Client concentration ANALYSIS
  • Margin ceiling (15.6% EBIT incl. labour-code hit) ANALYSIS
  • Premium valuation ANALYSIS

Key questions to monitor

None recorded yet.

Sources

IDDocumentPublisherTypeDateAuthority
S10Persistent Reports $1,654.4M FY26 Revenue with 17.4% Y-o-Y Growth and 15.6% EBIT Margin (press release)Persistent Systems Limitedresults press release2026-04-21PRIMARY
S11Shareholding pattern as on June 30, 2026 (Scrip 533179 / PERSISTENT / ISIN INE262H01021)Persistent Systems Limitedshareholding pattern (Reg. 31 filing)2026-06-30PRIMARY

Research status

Status
READY
Confidence
HIGH
Data as of
2026-09-26
KIRA Score
Not yet scored — no verified KIRA Score registry match
Method
Primary filings first; aggregators for cross-check only. SOURCED = from a cited document; ANALYSIS = KIRA interpretation; UNVERIFIED = not yet checked against a primary source.
Withheld
4 item(s) not yet verified are not shown.