TTML
Tata Teleservices (Maharashtra) share price & financials
- Price
- ₹40.28
- Market cap
- ₹7.0k Cr
- Sector
- Telecommunication
What Tata Teleservices (Maharashtra) Limited does
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
Quarterly results
Q1 FY27: revenue up 6.3%, net profit up 77.8% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 344 | 333 | 308 | 284 | 286 −17% | 294 −12% | 296 −4% | 302 +6% |
| EBITDA | 138 | 150 | 153 | 147 | 140 +1% | 175 +17% | 163 +7% | 165 +12% |
| Net profit | -330 | -315 | -306 | -325 | -321 +3% | -150 +52% | 581 +290% | -72 +78% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −37.6% 1Y
1Y: ₹57.08 on 10 Sept 2025 → ₹35.6. High ₹58.79 (16 Sept 2025), low ₹31.36 (30 Mar 2026).
Financials, as filed
Revenue fell 10.7% a year over 5 years, FY09 to FY26. Operating margin widened to 53.9%.
| Year ending | FY09 | FY10 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Revenue | ₹2.0k Cr | ₹2.3k Cr | ₹1.1k Cr | ₹1.2k Cr | ₹1.3k Cr | ₹1.2k Cr |
| Operating profit | ₹589 Cr | ₹564 Cr | ₹499 Cr | ₹533 Cr | ₹576 Cr | ₹625 Cr |
| Operating margin | 28.8% | 24.8% | 45.1% | 44.7% | 44.0% | 53.9% |
| Interest | ₹306 Cr | ₹350 Cr | ₹1.5k Cr | ₹1.6k Cr | ₹1.7k Cr | ₹1.4k Cr |
| Depreciation | ₹463 Cr | ₹564 Cr | ₹148 Cr | ₹149 Cr | ₹168 Cr | ₹142 Cr |
| Net profit | ₹-170 Cr | ₹-317 Cr | ₹-1.1k Cr | ₹-1.2k Cr | ₹-1.3k Cr | ₹-215 Cr |
| Net margin | -8.3% | -13.9% | -103.5% | -103.0% | -97.3% | -18.5% |
| Cash from operations | — | — | ₹558 Cr | ₹586 Cr | ₹505 Cr | ₹668 Cr |
| Free cash flow | — | — | ₹449 Cr | ₹482 Cr | ₹413 Cr | ₹535 Cr |
| ROCE | — | — | 40.0% | 48.0% | 50.0% | 56.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹2.0k Cr | ₹2.0k Cr | ₹2.0k Cr | ₹2.0k Cr | ₹2.0k Cr | ₹2.0k Cr |
| Reserves | ₹-20.4k Cr | ₹-20.8k Cr | ₹-21.0k Cr | ₹-21.2k Cr | ₹-21.7k Cr | ₹-21.9k Cr |
| Borrowings | ₹19.5k Cr | ₹19.8k Cr | ₹19.9k Cr | ₹20.0k Cr | ₹20.5k Cr | ₹20.9k Cr |
| Other liabilities | ₹461 Cr | ₹403 Cr | ₹397 Cr | ₹513 Cr | ₹477 Cr | ₹455 Cr |
| Total liabilities | ₹1.5k Cr | ₹1.4k Cr | ₹1.2k Cr | ₹1.3k Cr | ₹1.2k Cr | ₹1.3k Cr |
| Fixed assets | ₹830 Cr | ₹779 Cr | ₹740 Cr | ₹788 Cr | ₹785 Cr | ₹939 Cr |
| Capital work in progress | ₹29 Cr | ₹28 Cr | ₹34 Cr | ₹59 Cr | ₹24 Cr | ₹28 Cr |
| Investments | ₹70 Cr | ₹100 Cr | ₹66 Cr | ₹34 Cr | ₹68 Cr | ₹23 Cr |
| Other assets | ₹580 Cr | ₹457 Cr | ₹369 Cr | ₹425 Cr | ₹357 Cr | ₹351 Cr |
| Total assets | ₹1.5k Cr | ₹1.4k Cr | ₹1.2k Cr | ₹1.3k Cr | ₹1.2k Cr | ₹1.3k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, FIIs trimmed −0.29 pp while the public added +0.24 pp. The shareholder count shrank 9% to 9,46,056.
- Promoters
- 74.4%
- FIIs
- 2.5%
- DIIs
- 0.2%
- Public
- 22.9%
Since Jun 2025
- FIIs −0.29 pp
- Public +0.24 pp
- DIIs +0.06 pp
How it drifted, 12 quarters
Ownership split by quarter, oldest first. Sep '23: Promoters 74.4%, FIIs 2.2%, DIIs 0.1%, Public 23.4%.Dec '23: Promoters 74.4%, FIIs 2.3%, DIIs 0.1%, Public 23.3%.Mar '24: Promoters 74.4%, FIIs 2.5%, DIIs 0.1%, Public 23.1%.Jun '24: Promoters 74.4%, FIIs 2.4%, DIIs 0.1%, Public 23.2%.Sep '24: Promoters 74.4%, FIIs 2.4%, DIIs 0.1%, Public 23.2%.Dec '24: Promoters 74.4%, FIIs 2.3%, DIIs 0.1%, Public 23.2%.Mar '25: Promoters 74.4%, FIIs 2.5%, DIIs 0.1%, Public 23.0%.Jun '25: Promoters 74.4%, FIIs 2.8%, DIIs 0.1%, Public 22.7%.Sep '25: Promoters 74.4%, FIIs 2.6%, DIIs 0.1%, Public 22.9%.Dec '25: Promoters 74.4%, FIIs 2.6%, DIIs 0.1%, Public 22.9%.Mar '26: Promoters 74.4%, FIIs 2.6%, DIIs 0.2%, Public 22.9%.Jun '26: Promoters 74.4%, FIIs 2.5%, DIIs 0.2%, Public 22.9%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- PT TQCert Indonesia newly disclosed 0.00% held
- TQ Cert Services LLC, Qatar newly disclosed 0.00% held
- TComm Turkey Dijital Çözümler Limited Şirketi newly disclosed 0.00% held
- Artifex Systems Slovakia s. r. o. newly disclosed 0.00% held
- Tata International West Asia FZCO newly disclosed 0.00% held
The same filing shows 0 holders trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Tata Teleservices (Maharashtra) Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Tata Teleservices Limited | 48.30% | unchanged |
| Tata Sons Private Limited | 19.58% | unchanged |
| The Tata Power Company Limited | 6.48% | unchanged |
| Tata Investment Corporation Ltd | 0.00% | unchanged |
| Panatone Finvest Limited | 0.00% | unchanged |
| Akashastha Technologies Private Limited | 0.00% | unchanged |
| The Indian Hotels Company Limited | 0.00% | unchanged |
| Sir Ratan Tata Trust | 0.00% | unchanged |
| Tata Chemicals Limited | 0.00% | unchanged |
| Tata Industries Limited | 0.00% | unchanged |
| Tata Capital Limited | 0.00% | unchanged |
| Tata Consumer Products Limited | 0.00% | 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 Aug 2026
0 new, 4 added, 1 trimmed, 0 sold out — net +0.14 L shares (+1.0%).
- Held by funds
- ₹6 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 | +0.10 L | Sep '23 |
| SBI Nifty Smallcap 250 Index Fund SBI Mutual Fund | ₹2 Cr | +0.05 L | Sep '23 |
| Nippon India Nifty 500 Equal Weight Index Fund Nippon India Mutual Fund | ₹1 Cr | +0.00 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 Aug 2026
4 added, 1 trimmed — net +14,463 shares (+1.0%)
- Funds are sitting on
- -47%
- vs est. average cost
- Held by funds
- ₹6 Cr
- 5 schemes · ≈ 0.09% of the company
- Biggest holder
- Nippon India Nifty Smallcap 250 Index Fund
- ₹3 Cr · 0.1% of that fund
Shares held by these funds +206%
Aug '23 14.74 L shares Jul '26
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