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.
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