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Persistent Systems Ltd share Price Today

Company details

6M Return 13.04%
1Y Return 50.92%
Mkt Cap.(Cr) 27,268.01
Volume 330,396
Div Yield 0.73%
OI Chg %
Volume 330,396

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Technical Outlook
    The IT sector has been in a corrective phase since beginning of CY22 over the past 18 months while digesting various negatives in terms of slowdown in US, higher interest rate cycle, US banking issues, etc. Meanwhile most stocks have undergone 30-40% correction from their peak after stupendous rally in 2020-21
    Faster retracement of nine month’s correction in five months: Share price retraced January-September 2022 fall in just five months indicating structural improvement, resumption of uptrend. In current context, the stock is forming higher base above 100-day EMA giving fresh entry opportunity
    Key observation: Persistent has been one of the few relative outperformers within IT pack that has managed to reclaim its life highs. Over past few months stock formed a higher base around 4300-4400 zone and resumed its uptrend post earnings
Fundamental Outlook
    Persistent System (Persistent) offers cloud, data, product & design led services to BFSI, Healthcare & Hi Tech verticals. Persistent had a strong year (FY23) with revenue growth of 35.2% in dollar terms & rupee revenue growth of 46.2%. Persistent is a net debt free company reporting a healthy double digit return ratio (with RoCE of 20%)
    Persistent achieved US$1 bn revenue in FY23 and is now aiming at US$2 bn annual revenue in the medium term. In FY24, the company is confident on maintaining 3-5% sequential growth rates in all quarters
    Persistent has acquired five companies in FY22 building capabilities in payments, cloud, etc. Persistent has integrated all the acquired companies and is now actively looking for acquisitions to strengthen capabilities in the areas of cyber security, consumer tech, generative AI, healthcare & BFSI
    The company continues to win strong TCV and in FY23 won a TCV of US$1.6 bn, up 32.8% with new TCV wins of US$0.9 bn, which provides sustainable revenue visibility. Persistent’s strong deal win momentum along with recovery in top clients revenue will aid in its revenue growth. We expect dollar revenue to grow at 18.1% CAGR in FY23-25E
    We expect Persistent’s EBIT margin to improve by ~140 bps to 16.3% over FY23-25E due to the levers of fresher deployment, utilization improvement and pricing benefit
    Persistent’s share price has grown by ~6x over the past five years (from ~₹ 778 in May 2018 to ~₹ 4,675 levels in May 2023). We value Persistent at ₹ 5,170 i.e. 26x P/E on FY25E

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IT Consulting & Software company Persistent Systems announced consolidated Q4FY24 & FY24 results:

FY24 Financial Highlights:
- Revenue: Persistent Systems announced a revenue of USD 1,186.05 million for the financial year 2024, reflecting a YoY growth of 14.5%. In Indian currency, the revenue equated to Rs 98,215.87 million, representing a 17.6% increase from the previous year.
- EBITDA: Earnings before interest, taxes, depreciation, and amortization (EBITDA) for FY24 amounted to Rs 17,243.02 million, showing a growth of 13.5% over the prior year.
- PBT: Profit before tax (PBT) stood at Rs 14,476.06 million for the financial year, up by 16.7% YoY.
- PAT: Net profit after tax (PAT) increased by 18.7% to Rs 10,934.92 million.

Q4FY24 Financial Highlights:
- Revenue: Quarterly revenue amounted to USD 310.89 million, up by 3.4% QoQ and 13.2% YoY. In Rs terms, this was a revenue of Rs 25,905.26 million, a QoQ growth of 3.7% and a 14.9% increase from the same quarter in the previous year.
- EBITDA: EBITDA for the quarter was Rs 4,543.62 million, experiencing a 2.8% increase from the last quarter and a 9.1% hike compared to the same period last year.
- PBT: Profit before tax for the quarter grew by 1.6% QoQ to Rs 3,954.93 million, marking a 16.1% increase over the same quarter of the previous year.
- PAT: Net profit after tax for the final quarter of FY24 surged by 10.2% QoQ and 25.4% YoY to Rs 3,153.22 million.

- The Board of Directors recommended a final dividend of Rs 10 per share on the face value of Rs 5 per share for the financial year 2023-24.

Commenting on the results,Anand Deshpande, Founder, Chairman, and Managing Director at Persistent said,"Our continued success this fiscal year is a testament to our innovative spirit, remarkable resilience, and strategic foresight, powering the digital transformation journeys of our clients. We approach every challenge as an opportunity and every achievement as a stepping-stone for future endeavors. Our determination to excel in everything we do has helped us set new benchmarks in the industry. We will continue to push the boundaries to scale new heights in the coming year."

Commenting on the results, Sandeep Kalra,Chief Executive Officer and Executive Director at Persistent said, "As we reflect on fiscal year 2024, I would like to extend my gratitude towards our incredible team, clients, partners, and investors, whose continued trust has powered our impressive journey. Our industry-leading growth, strong operational rigor, and commitment to building differentiated capabilities led to Persistent’s recognition as the “Most Promising Company” of the Year by CNBC-TV18 at the 2023 India Business Leader Awards. We were also included in three prestigious capital market indices – MSCI India Index, S&P BSE 100, and S&P BSE SENSEX Next 50. As we enter the new fiscal year, we are confident in our ability to drive sustainable growth with strategic investments in disruptive technologies like AI and are excited about the road ahead."


Result PDF

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Persistent Systems Ltd shares SWOT Analysis

Strengths (12)

  • Effectively using its capital to generate profit - RoCE improving in last 2 years
  • Efficient in managing Assets to generate Profits - ROA improving since last 2 year
  • Growth in Net Profit with increasing Profit Margin (QoQ)

Weakness (1)

  • MFs decreased their shareholding last quarter

Opportunity (0)

Data not found

Threats (2)

  • Promoter decreasing their shareholding
  • High PE (PE > 40)

Resistance and support

R1 3,562.3
R2 3,584.5
R3 3,609.3


S1 3,515.4
S2 3,490.6
S3 3,468.4
Delivery and volume
LIESHA CORPORATION PRIVATE LIMITED . Bulk Purchase 2023-11-30 6414.02 583339 NSE
GOVERNMENT OF SINGAPORE Bulk Purchase 2023-11-30 6408.05 388464 NSE
BNP PARIBAS ARBITRAGE Bulk Purchase 2023-11-30 6451 2062 NSE
Name Category Shares
Anand Suresh Deshpande PROMOTER 29.7%
Chitra Hemadri Buzruk PROMOTER 0.61%
Mukund Suresh Deshpande PROMOTER 0.52%


Investment recommendation
Call Date
09 May 2023
Entry Price 4,650.00
Target Price 5,330.00
3 Month


Operating Profit
Profit after Tax
Reserves and Surplus
Operating Profit
Profit after Tax

Persistent Systems Ltd Stocks COMPARISON

Financials( in Cr) Persistent Systems Ltd Tata Consultancy Services Ltd Infosys Ltd HCL Technologies Ltd Wipro Ltd
Price 3,540.15 3,834.10 1,444.30 1,333.20 461.00
% Change 1.69 -1.19 1.71 0.02 0.59
Mcap Cr 27,268.01 1,387,211.12 599,509.72 361,785.82 240,878.86
Revenue TTM Cr 8,350.59 240,893.00 153,670.00 101,456.00 90,487.60
Net Profit TTM Cr 921.09 46,099.00 26,248.00 14,845.00 11,366.50
PE TTM 49.84 29.77 23.03 23.04 21.82
1 Year Return 50.92 17.79 14.78 21.23 19.51
ROCE 28.21 62.85 44.74 27.62 17.11
ROE 25.12 51.04 37.12 23.32 15.89

Equity Capital: 3,965.08 Cr FV: 5.00

Period MF Net Purchase / (sold) FII Net
LAST 1M 45,581.63 -35,822.31
LAST 3M 105,886.10 -42,131.07
LAST 6M 173,680.57 48,055.67
LAST 12M 265,486.86 128,722.00
Persistent Systems Limited - Updates

May 17, 2024 l NSE Announcement

Persistent Systems appoints Vinit Teredesai as CFO

May 16, 2024 l BSE Announcement

Persistent Systems Limited - Outcome of Board Meeting

May 16, 2024 l NSE Announcement

Date Action Type Ratio
Mar 28, 2024 Split 1:2
Jan 30, 2024 Dividend 320
Jul 11, 2023 Dividend 100

Persistent Systems Ltd Information

Stock PE (TTM)
Promoter Holding
Book Value
  • Persistent Systems Ltd. offers outsourced software product development. It designs, develops, and maintains software systems and solutions, creates new applications and improves the functionality of existing software products. Its incorporation date is 16 May 1990. The company’s headquarters are in Pune. During FY 2021-2022, Persistent Systems Ltd.’s total revenue was Rs 5,854.70 crore, with total revenue growth of 36.29%. On 12 August 2022, the company’s market capitalisation stood at Rs 28,456 crore.  

    The company is listed on the Bombay Stock Exchange with the code 533179, and on the National Stock Exchange with the code PERSISTENT.  

    In February 2011, Persistent Systems Ltd. acquired the operations of Nagpur-based Infospectrum India Private. In 2016, it acquired PARX – Platinum Salesforce Consulting Partner in the DACH market. In 2021, the assets of Shree Partners were acquired to bolster cloud and IT management capabilities. In 2022, the company acquired US-based company MediaAgility to launch a new Google Cloud Business unit. Persistent Systems Ltd. won the prestigious ISG 2020 Star of Excellence Award™ from Information Services Group for its core technologies.  

    On 30 June 2022, the company’s shareholding pattern showed a promoter stake of 31.26%, a foreign institutional investor stake of 20.45%, a domestic institutional investor stake of 25.94%, and a public stake of 19.51%. The foreign institutional investor holdings increased from 20.03% to 20.45% during this quarter. Dr Anand Suresh Deshpande, the company’s founder, is the leading promoter with a 29.91% share.  

    The company’s top management comprises Mr Arvind Goel, Dr Ambuj Goyal, Prof Deepak Phatak, Mr Guy Eiferman, Ms Roshini Bakshi, Mr Sunil Sapre, Ms Avani Davda, Mr Praveen Kadle, Mr Pradeep Bhargava, Dr Anant Jhingran, Mr Sandeep Kalra, and Mr Thomas Kendra. Walker Chandiok & Co. LLP are the company’s auditors. On 30 June 2022, the company’s total shares outstanding were 7.64 crores. 

    On 12 August 2022, Persistent Systems Ltd.’s share price closed at Rs 3,731.30 on BSE. It closed at Rs 3,723.40 on NSE. The 52-week high for Persistent Systems Ltd.’s share price was Rs 4,987.50, and the 52-week low for the company’s share price was Rs 3,061.45.  

    The company’s peers include MphasiS, L&T Technology Services, Oracle Financial Services Software, Infosys Ltd., HCL Technologies Ltd., Wipro Ltd., and Tata Consultancy Services Ltd. 

    Disclaimer: ICICI Securities Ltd. (I-Sec). Registered office of I-Sec is at ICICI Securities Ltd. - ICICI Venture House, Appasaheb Marathe Marg, Prabhadevi, Mumbai - 400 025, India, Tel No : 022 - 6807 7100. I-Sec is a Member of National Stock Exchange of India Ltd (Member Code :07730), BSE Ltd (Member Code :103) and Member of Multi Commodity Exchange of India Ltd. (Member Code: 56250) and having SEBI registration no. INZ000183631. Name of the Compliance officer (broking): Mr. Anoop Goyal, Contact number: 022-40701000, E-mail address: complianceofficer@icicisecurities.com. Investment in securities market are subject to market risks, read all the related documents carefully before investing. The contents herein above shall not be considered as an invitation or persuasion to trade or invest.  I-Sec and affiliates accept no liabilities for any loss or damage of any kind arising out of any actions taken in reliance thereon. The contents herein above are solely for informational purpose and may not be used or considered as an offer document or solicitation of offer to buy or sell or subscribe for securities or other financial instruments or any other product. Investors should consult their financial advisers whether the product is suitable for them before taking any decision. The contents herein mentioned are solely for informational and educational purpose

Registered Address

Bhageerath, 402 Senapati Bapat Road, Pune, Maharashtra, 411016

Tel : 91-020-67030000/67462084
Email : investors:persistent.com; info:persistent.com
Website : http://www.persistent.com

Link Intime India Pvt Ltd

AGM Date (Month) : Jul
Face Value Equity Shares : 5
Market Lot Equity Shares : 1
BSE Code : 533179
Book Closure Date (Month) : Jul
BSE Group : A
ISIN : INE262H01021

FAQ’s on Persistent Systems Ltd Shares

You can buy Persistent Systems Ltd shares through a brokerage firm. ICICIdirect is a registered broker through which you can place orders to buy Persistent Systems Ltd Share.

Company share prices and volatile and keep changing according to the market conditions. As of May 17, 2024 03:57 PM the closing price of Persistent Systems Ltd was Rs.3,540.15.

Market capitalization or market cap is determined by multiplying the current market price of a company�s shares with the total number of shares outstanding. As of May 17, 2024 03:57 PM, the market cap of Persistent Systems Ltd stood at Rs. 27,268.01.

The latest PE ratio of Persistent Systems Ltd as of May 17, 2024 03:57 PM is 49.84

The latest PB ratio of Persistent Systems Ltd as of May 17, 2024 03:57 PM is 0.09

The 52-week high of Persistent Systems Ltd share price is Rs. 4,450.00 while the 52-week low is Rs. 2,317.18

According to analyst recommendations, Persistent Systems Ltd Share has a "Buy" rating for the long term.

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