PERSISTENT

Persistent Systems share price & results

Persistent Systems Limited· Information Technology

Results to
Sept 2026
Latest analysed call
Q2 FY27
Ownership as of
Sept 2026

Pune-based IT services firm delivering AI-led digital engineering and enterprise modernization globally.

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Guidance Hit Rate
17 targets · 63% hit rate 5 achieved · 9 active →
Segment Shift
3 segments tracked See revenue & margin mix below →
Reverse DCF
Reality Gap Ready Test priced-in growth in DCF tool →
Concall & Tone
Q2 FY27 analysed Read claims, qualifiers & Q&A →

Price & Snapshot

₹6,040 +0.30% · +₹18

Last close 9 Nov 2026 · NSE · INR · Source: Inve

Performance +4.5% 1Y

₹4.5k₹5.0k₹5.5k₹6.0k₹6.5kNov 25Dec 25Feb 26Mar 26May 26Jun 26Aug 26Sept 26Nov 26Q3 FY26 — 20 Jan 2026Q4 FY26 — 21 Apr 2026Q1 FY27 — 29 Jun 2026Q2 FY27 — 23 Oct 2026

1Y: ₹5,781 on 7 Nov 2025 → ₹6,040. High ₹6,563.5 (22 Dec 2025), low ₹4,298.5 (29 Jun 2026).

Previous close
₹6,022
Market cap
₹90.6k Cr
52-week range
₹4,298.5 – ₹6,563.5
One year
+2.99%
Price to earnings (TTM to Sept 2026)
48.44×
Return on equity (TTM to Sept 2026)
21.77%

Reported

Key financial metrics & valuation ratios

Each figure keeps its basis and period; nothing is filled in.

MetricValueChangeBasisPeriodNote
Revenue4,494 ₹ crore+28.7% YoYQuarterly, as filedQuarter to Sept 2026Revenue from operations as filed.
Operating margin17.0 %−2.0 pts YoYOperating profit / revenueQuarter to Sept 2026For the quarter; a change is in percentage points.
Net profit483 ₹ crore+5.2% YoYQuarterly, as filedQuarter to Sept 2026Profit after tax as filed.
Return on equity21.77 %+2.6 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Sept 2026
Adjusted profit attributable to owners ÷ average owners’ equity.
Free cash flow margin10.65 %+2.6 ptsFY Mar 2026 vs FY Mar 2025Fiscal yearFY ending Mar 2026
(Operating cash flow − fixed-asset purchases + disposals) ÷ revenue.
Revenue growth (YoY)27.10 %+2.0 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Sept 2026
Revenue change against the same period one year earlier.

Source: Inve data from filed results; ratios from the Screener-verified panel · to Sept 2026

Business Mix

Where revenue comes from

Software, Hi-Tech and Emerging Industries shrank from 45% to 41% of revenue over the last two years.

Software, Hi-Tech and Emerging Industries 40.6% · ₹1,749.09 Cr +28.5% YoY
BFSI 34.0% · ₹1,463.09 Cr
Healthcare & Life Sciences 25.4% · ₹1,091.05 Cr +29.5% YoY

Explore full multi-period segment shift & margins →

Guidance

What management said, and what became of it

5 of 8 judged targets kept · 9 open · verdicts reflect calls analysed to Q2 FY27.

Persistent Systems Limited management guidance track record on Inve: 17 targets tracked across analysed earnings calls (5 achieved, 3 missed, 9 open).

Delivering on Growth (1/1 achieved), while Operations (2 need watch) is lagging.

TargetOriginal wordingSaidLatest callVerdict
Growth Revenue Run Rate
$2 billion by end of FY27
Call transcript, Q1 FY26 · 23 Jul 2025
Q1 FY26
Q2 FY27:Promise achieved in Q1 FY27 via the Nagarro acquisition announcement, which created a pro-forma $2.9B+ entity. No new updates.
Call transcript, Q2 FY27 · 23 Oct 2026
Achieved
Operations Effective Tax Rate
22.5% to 23.5% for the year
Call transcript, Q1 FY26 · 23 Jul 2025
Q1 FY26
Q2 FY27:Promise related to FY26, which is complete. The final status remains ghosted as the outcome was never confirmed.
Call transcript, Q2 FY27 · 23 Oct 2026
Ghosted
Operations EBIT Margin Improvement
improved by 200-300 basis point by the time we reach FY27
Call transcript, Q1 FY26 · 23 Jul 2025
Q1 FY26
Q2 FY27:This original standalone promise remains superseded by the new context of the Nagarro acquisition. Management has since provided a new aspirational goal of 16-17% margin, which is tracked separately.
Call transcript, Q2 FY27 · 23 Oct 2026
Diluted

Source: Inve Guidance Tracker for Persistent Systems Limited · to Q2 FY27

A verdict describes what became of management’s own words in later analysed calls. “Delayed” is a change of date, “went quiet” a target the calls stopped mentioning. None of it is a judgement on the investment. The methodology sets out how verdicts are recorded.

3 of Persistent Systems Limited's 17 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 14 more targets are in the full ledger.

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Supply chain

Cross-company call evidence

Named counterparties and similar headwinds disclosed on earnings calls.

Counterparties named by Persistent Systems Limited

  • Persistent Systems Limited → acquires or invests in → Nagarro.

    Q2 FY27 · Announced · Positive · Counterparty named; listed-company identity not verified.

    1. Proposed
    2. Announced
    3. Active
    4. Completed / ended

    Creating an AI-led global engineering powerhouse, expanding capabilities, balancing geographic mix, strengthening near-shore European delivery, and cultural alignment.

    Disclosed value: USD 450 million

    “Let me now provide you with an update on the agreement to acquire Nagarro that we announced earlier in June this year. ... We have secured approximately 94.04% of Nagarro share capital excluding treasury shares at the expiry of the additional acceptance period, significantly exceeding the minimum acceptance threshold of 50%+1 share that we had set. ... From a merger control clearance perspective, we have received all merger control clearances and all FDI clearances other than Austria and Spain. ... We expect the deal closure by Q4-CY26 or Q1-CY27. ... Overall, we are expecting one-time expenses to the tune of approximately $50 million spread over three to four quarters. These expenses will weigh in on the reported EPS growth as you would have seen in our Q2 results reflecting an impact of around 3.1% on our reported PAT. ... We incurred transaction costs worth Rs. 1,853.4 million towards the Nagarro acquisition in this quarter. ... Over the next two quarters, we expect an incremental amount ranging between USD 25 to 30 million to be incurred towards the Nagarro transaction.”

    Disclosure indicates an acquisition or investment without specifying full buyout versus minority stake.

    Evidence drawer

    Evidence type: Transcript excerpt

    “Let me now provide you with an update on the agreement to acquire Nagarro that we announced earlier in June this year. ... We have secured approximately 94.04% of Nagarro share capital excluding treasury shares at the expiry of the additional acceptance period, significantly exceeding the minimum acceptance threshold of 50%+1 share that we had set. ... From a merger control clearance perspective, we have received all merger control clearances and all FDI clearances other than Austria and Spain. ... We expect the deal closure by Q4-CY26 or Q1-CY27. ... Overall, we are expecting one-time expenses to the tune of approximately $50 million spread over three to four quarters. These expenses will weigh in on the reported EPS growth as you would have seen in our Q2 results reflecting an impact of around 3.1% on our reported PAT. ... We incurred transaction costs worth Rs. 1,853.4 million towards the Nagarro acquisition in this quarter. ... Over the next two quarters, we expect an incremental amount ranging between USD 25 to 30 million to be incurred towards the Nagarro transaction.”

    Source company: Persistent Systems Limited · Counterparty: Nagarro · Call date: 2026-10-23 · Period: Q2 FY27 · Review status: Structured call extraction

  • Persistent Systems Limited → acquires or invests in → Nagarro.

    Q1 FY27 · Announced · Positive · Counterparty named; listed-company identity not verified.

    1. Proposed
    2. Announced
    3. Active
    4. Completed / ended

    To form an AI-led digital engineering powerhouse, expand European footprint, add complementary verticals (industrial consumer, public sector), enhance capabilities (ERP, OpenAI reseller), and achieve scale.

    Disclosed value: EUR 1.27 billion

    “Sandeep Kalra: "a potential acquisition that we have announced and which is a combination of Persistent and Nagarro to form an Al-led digital engineering powerhouse."”

    Disclosure indicates an acquisition or investment without specifying full buyout versus minority stake.

    Evidence drawer

    Evidence type: Transcript excerpt

    “Sandeep Kalra: "a potential acquisition that we have announced and which is a combination of Persistent and Nagarro to form an Al-led digital engineering powerhouse."”

    Source company: Persistent Systems Limited · Counterparty: Nagarro · Call date: 2026-06-28 · Period: Q1 FY27 · Review status: Structured call extraction

Mentions over time

First observed: Q2 2026 · Latest observed: Q3 2026

Recorded disclosures by calendar reporting quarter
PeriodOther callsOwn calls
Q3 202601
Q2 202601

Counts reflect the calls covered here. No mention in a period does not establish that a relationship ended.

From available earnings-call summaries. Disclosures are management statements, not independently verified transactions.

Live Summary

PERSISTENT ₹6,040 +0.30%
Guidance Verdict (17 tracked) 5 kept · 9 open· 3 missed
AI Call Brief · Q2 FY27

Persistent Systems Limited Q2 FY27

Overview

Symbol
NSE:PERSISTENT
Exchange
NSE
Currency
INR

What Persistent Systems Limited does

Based on the company's own presentations, annual report and earnings calls.

Persistent Systems is an AI-led, platform-driven digital engineering and enterprise modernization partner for global enterprises, built on more than three decades of software product-engineering and data-systems heritage. It earns by delivering IT services across product & platform engineering, data & AI, cloud-enabled enterprise modernization, CX & design-led transformation and intelligent automation to clients in software/hi-tech, banking/financial services/insurance and healthcare/life sciences. The company runs its own AI accelerators and platforms alongside partnerships with major hyperscalers and enterprise software vendors (Google, AWS, IBM, Microsoft, Salesforce, Databricks, ServiceNow, Snowflake, UiPath, Appian, Outsystems), and delivers from a global network of offices and engineering hubs.

Segments

  • Software, Hi-Tech & Emerging Industries
  • Banking, Financial Services & Insurance
  • Healthcare & Life Sciences
Employees
27,502
Countries of operation
19
India-based employees (largest delivery hub)
23,869
Active clients
4,500+
Large clients (>$5M annual revenue)
62
Patents held
121
Founded 1990Headquarters Pune, Maharashtra, IndiaEmployees 27,502 (31 Mar 2026) Company website

How the price took the results

Moved an average of ±3.3% across the last 4 priced result releases

Close before → close after
QuarterReleaseRevenue (₹ Cr) Net profit (₹ Cr)Rev YoYBefore → AfterReaction
Q2 FY2723 Oct 264,494 483+28.7%₹5,740.5 → ₹5,727.5−0.2%
Q1 FY2728 Jun 263,958 420+24.2%₹4,841.5 → ₹4,298.5−11.2%
Q4 FY2621 Apr 263,958 420+24.2%₹5,325.2 → ₹5,329.9+0.1%
Q3 FY2620 Jan 263,718 388+23.9%₹6,438 → ₹6,342.5−1.5%

The move from the last close before each results date to the first close on or after it — the market's first read on the quarter alongside what was filed.

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PEER COMPARISON
Median ₹90,580 Cr Mkt Cap
₹0 Cr₹1.0L Cr₹2.0L Cr₹3.0L CrPersistent Systems Limited (PERSISTENT): ₹90,580 Cr₹90,580 CrPERSISTENTWipro Limited (WIPRO): ₹1.8L Cr₹1.8L CrWIPROTech Mahindra Limited (TECHM): ₹1.8L Cr₹1.8L CrTECHMLTIMindtree (LTIM): ₹1.5L Cr₹1.5L CrLTIMLTM Limited (LTM): ₹1.3L Cr₹1.3L CrLTMCoforge Limited (COFORGE): ₹88,298 Cr₹88,298 CrCOFORGEOracle Financial Services Software Limited (OFSS): ₹87,352 Cr₹87,352 CrOFSSMphasiS Limited (MPHASIS): ₹46,878 Cr₹46,878 CrMPHASISL&T Technology Services Limited (LTTS): ₹42,816 Cr₹42,816 CrLTTS

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Quick Answers

Frequently asked questions on Persistent Systems Limited

Compiled directly from PERSISTENT's filed financial statements, earnings call transcripts, and ownership disclosures.

How did Persistent Systems Limited (PERSISTENT) perform in its latest reported quarter (Sept 2026)?

For the quarter ended Sept 2026, Persistent Systems Limited reported revenue of ₹4.5k Cr, net profit of ₹483 Cr, an operating margin of 17.0%. Diluted earnings per share stood at ₹30.61.

How is Persistent Systems Limited (PERSISTENT) valued today, and what growth does the stock price imply?

Persistent Systems Limited (PERSISTENT) trades at ₹6,040, with a market capitalization of ₹90.6k Cr. Reverse-DCF analysis shows the current stock price implies 32.8% annual earnings growth over the next 7 years compared with its historical net-profit CAGR of 20.8%.

Who owns Persistent Systems Limited (PERSISTENT) — promoters, FIIs, DIIs, and mutual funds?

As of Sept 2026, Promoters hold 30.3%, FIIs hold 20.8%, DIIs hold 32.0%, Public shareholders hold 16.4%.

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