Tata Teleservices (Maharashtra) share price & results

Tata Teleservices (Maharashtra) Limited· Telecommunication

Results to: Sept 2026
Ownership as of: Sept 2026

Tata Tele Business Services (TTBS): enterprise voice, data & managed digital services for SMEs, carriers.

Company research is public. Sign in to keep your own companies, notes and cases.

Reported

The figures, each with its period

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

Metric	Value	Change	Basis	Period	Note
Revenue	310 ₹ crore	+8.4% YoY	Quarterly, as filed	Quarter to Sept 2026	Revenue from operations as filed.
Operating margin	53.0 %	+4.0 pts YoY	Operating profit / revenue	Quarter to Sept 2026	For the quarter; a change is in percentage points.
Net profit	-59.0 ₹ crore	—	Quarterly, as filed	Quarter to Sept 2026	Profit after tax as filed. The year-earlier figure was zero or a loss, so no percentage is shown.
Return on equity	Unavailable	+82.4 ptsFY Mar 2011 vs FY Mar 2010	Trailing twelve months	TTM · period unavailable	Not in the analysed materials. No older figure is substituted.
Free cash flow margin	Unavailable	−38.9 ptsFY Mar 2011 vs FY Mar 2010	Fiscal year	FY · period unavailable	Not in the analysed materials. No older figure is substituted.
Revenue growth (YoY)	Unavailable	+0.4 ptsFY Mar 2011 vs FY Mar 2010	Trailing twelve months	TTM · period unavailable	Not in the analysed materials. No older figure is substituted.

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

Price

₹41.86 +0.79% · +₹0.33

Last close 27 Oct 2026 · NSE · INR · Source: Inve

Performance −23.5% 1Y

1Y: ₹54.75 on 24 Oct 2025 → ₹41.86. High ₹56.01 (3 Nov 2025), low ₹31.36 (30 Mar 2026).

Previous close: ₹41.53
Market cap: ₹8.1k Cr
52-week range: ₹31.36 – ₹56.01
One year: −24.39%

Overview

Symbol: NSE:TTML
Sector: Telecommunication
Exchange: NSE
Currency: INR

What Tata Teleservices (Maharashtra) Limited does

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

Tata Teleservices (Maharashtra) Limited operates under the Tata Tele Business Services (TTBS) brand, supplying a comprehensive portfolio of voice, data and managed digital services to enterprises and carriers across India, with a particular focus on small and medium businesses (SMEs). Its offerings span connectivity (internet leased lines, SD-WAN, broadband, P2P leased lines), cyber security (firewalls, SASE, ZTNA), cloud, and integrated communications (Smartflo UCaaS, SIP trunking, toll-free and messaging services), delivered over its own fibre-optic network and via a channel-partner distribution model. Revenue is earned from recurring subscriptions and usage of these connectivity, security and communication solutions sold to business and carrier customers.

End-of-year subscribers: 933,000 (FY26)
Fibre optic network (TTL + TTML combined): 127,000+ km
Channel partners (TTL + TTML combined): 1,000+
Customer base: Enterprises and carriers across India, with a focus on SMEs
Market position: Positions itself as a leading digital solutions provider in the MSME space

Founded 1995Headquarters New Delhi, India Company website

Fundamentals

Ratios, each with its period

Current values with the period they cover; the trend reads across the 3 fiscal years held (Mar 2009 to Mar 2011).

Mar 2009 Mar 2010 Mar 2011
47.00 days 51.00 days 48.00 days

How it is calculated. Reported receivable days from the annual accounts.
Mar 2009 Mar 2010 Mar 2011
47.00 days 51.00 days 48.00 days

How it is calculated. Reported debtor days plus inventory days less payable days.
Mar 2009 Mar 2010 Mar 2011
0.00% 0.00% 0.00%

How it is calculated. Reported dividend payout as a percentage of annual profit.
Mar 2009 Mar 2010 Mar 2011
— — —

How it is calculated. Market capitalisation from the current stock record.

Mar 2009	Mar 2010	Mar 2011
47.00 days	51.00 days	48.00 days

Mar 2009	Mar 2010	Mar 2011
47.00 days	51.00 days	48.00 days

Mar 2009	Mar 2010	Mar 2011
0.00%	0.00%	0.00%

Mar 2009	Mar 2010	Mar 2011
—	—	—

A dash means inputs are missing or too old, the ratio does not apply, or the value is outside the supported range. FY uses the reported fiscal period; TTM the latest twelve months; valuations use the current market cap with the chosen earnings period. Screen Indian stocks on these ratios →

Financials

What the filings say

Net profit, year on year: +82% (quarter to sept 2026 against sept 2025).

In ₹ crore. Oldest period first.

Line item	Dec 2024	Mar 2025	Jun 2025	Sept 2025	Dec 2025	Mar 2026	Jun 2026	Sept 2026
Sales	333	308	284	286	294	296	302	310
Expenses	182	155	138	146	119	132	137	145
Operating profit	150	153	147	140	175	163	165	164
Operating margin	45.0%	50.0%	52.0%	49.0%	60.0%	55.0%	55.0%	53.0%
Other income	1	2	-2	2	-2	665	2	2
Interest	423	419	433	425	288	215	206	191
Depreciation	43	42	37	37	36	32	33	34
Profit before tax	-315	-306	-325	-321	-150	581	-72	-59
Tax rate	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Net profit	-315	-306	-325	-321	-150	581	-72	-59
EPS (₹ per share)	-1.61	-1.57	-1.66	-1.64	-0.77	2.97	-0.37	-0.30

Source: Inve data · income statement, quarterly · to Sept 2026

In ₹ crore. Oldest period first.

Line item	Mar 2009	Mar 2010	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Sales	2,045	2,278	1,106	1,192	1,309	1,160
Expenses	1,458	1,713	606	659	730	535
Operating profit	589	564	499	533	576	625
Other income	13	31	4	12	10	663
Interest	306	350	1,502	1,622	1,694	1,361
Depreciation	463	564	148	149	168	142
Profit before tax	-169	-318	-1,145	-1,228	-1,274	-215
Net profit	-170	-317	-1,145	-1,228	-1,274	-215

Source: Inve data · income statement, annual · to Mar 2026

In ₹ crore. Oldest period first.

Line item	Mar 2023	Mar 2024	Mar 2025	Sept 2025	Mar 2026	Sept 2026
Equity capital	1,955	1,955	1,955	1,955	1,955	1,955
Reserves	-21,009	-21,208	-21,525	-21,699	-21,938	-20,888
Borrowings	19,869	20,047	20,416	20,502	20,869	19,845
Other liabilities	397	513	458	477	455	497
Total liabilities	1,211	1,307	1,304	1,235	1,341	1,410
Fixed assets	740	788	798	785	939	941
Capital work in progress	34	59	35	24	28	41
Investments	66	34	58	68	23	78
Other assets	369	425	413	357	351	350
Total assets	1,211	1,307	1,304	1,235	1,341	1,410

Source: Inve data · balance sheet · to Sept 2026

In ₹ crore. Oldest period first.

Line item	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from operations	567	530	558	586	505	668
Cash from investing	-177	-130	-66	-64	-109	-91
Cash from financing	-432	-427	-494	-503	-386	-604
Net cash flow	-42	-26	-2	18	10	-27
Free cash flow	457	426	449	482	413	535

Source: Inve data · cash flow · to Mar 2026

In days and %. Oldest period first.

Line item	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor days	27	40	36	48	40	30
Cash conversion cycle	27	40	36	48	40	30
Working capital days	-3370	-3058	-3310	-2239	-2724	-5675
Return on capital employed	147.0%	32.0%	40.0%	48.0%	50.0%	56.0%
Dividend payout	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Source: Inve data · annual ratios · to Mar 2026

Ownership

Who owns it

Promoters hold 74.36% as of Sept 2026; institutions cut 0.09 pts since Jun 2026.

Promoters 0.00 pts 74.36%
Foreign institutions −0.09 pts 2.43%
Domestic institutions 0.00 pts 0.18%
Public +0.09 pts 23.03%

9,30,674 shareholders on the register.

Source: Exchange shareholding filings · to Sept 2026 · 8 filings held

Who was buying across the market this quarter

Who is on the register

Named in the Sep 2026 filing

Every holder of Tata Teleservices (Maharashtra) Limited above SEBI's 1% disclosure line, and what changed since Jun 2026.

Holder	Stake	Change
	48.30%	unchanged
	19.58%	unchanged
	6.48%	unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

Mutual funds in TTML

Filings to Sep 2026

0 new, 1 added, 4 trimmed, 0 sold out — net −0.28 L shares (−1.9%).

Held by funds: ₹5 Cr; 5 schemes
Biggest holder: Nippon India Nifty Smallcap 250 Index Fund; ₹3 Cr · 0.1% of that fund

Scheme	Holding	Last month	Held since
Nippon India Nifty Smallcap 250 Index Fund Nippon India Mutual Fund	₹3 Cr	−0.24 L	Sep '23
SBI Nifty Smallcap 250 Index Fund SBI Mutual Fund	₹1 Cr	−0.12 L	Sep '23
Nippon India Nifty 500 Equal Weight Index Fund Nippon India Mutual Fund	₹1 Cr	+0.09 L	Sep '24
SBI Nifty 500 Index Fund SBI Mutual Fund	₹0 Cr	−0.00 L	Sep '24
SBI Nifty Small Cap 250 ETF SBI Mutual Fund	₹0 Cr	−0.00 L	May '26

HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.

Mutual funds Sep 2026

1 added, 4 trimmed — net −27,977 shares (−1.9%)

Funds are sitting on: -45%; vs est. average cost
Held by funds: ₹5 Cr; 5 schemes · ≈ 0.08% of the company
Biggest holder: Nippon India Nifty Smallcap 250 Index Fund; ₹3 Cr · 0.1% of that fund

Shares held by these funds +225%

Oct '23 14.61 L shares Sep '26

Your own record

Start an Inve Case for Tata Teleservices (Maharashtra) Limited

Free account: one company. Everything above stays public.

Write why you follow Tata Teleservices (Maharashtra) Limited and the condition you want checked. Inve compares your numeric conditions with available results and management guidance; your own conditions remain yours to review.

What an account adds

Keep reading

Other Telecommunication companies

All Telecommunication companies → · Telecommunication earnings growth →

Learn to analyse Tata Teleservices (Maharashtra) Limited

Guides on how to read this kind of business and the numbers that matter.