Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 28 Sep
Source: Bse
Tata Technologies Limited (TATATECH)
Small CapIT stocks · Small cap · NSE
Tata Technologies is an engineering and digital services company, specializing in product development and digital transformation for global manufacturers, particularly in automotive, aerospace, and industrial heavy machinery. It focuses on software-defined products, AI-enabled processes, and end-to-end engineering solutions.
Data qualityFresh enough for analysisQuote updated 21 Oct, 03:31 pm ISTDetails
Quote21 Oct, 03:31 pm IST
Base fundamentals18 Oct 2026 · screener
Official result overlay30 Sept 2026 · nse-xbrl
Latest result14 Oct, 04:09 pm IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · IT P/E 21.4 (n=204)
Technical timing lens
Trend score and candlestick chart
69BullishSMA20 -9.4% / mo · MACD + · sector +19.3pp vs Nifty 500 (3M)
Stock trend: 49
Sector RS: 100
Sector 3M: +13.7% vs Nifty 500 -5.6%
IT FPI tailwindBuilding
Latest FPI flow is positive, but a second consecutive positive fortnight is still required. View sector evidence
Technical chart
TATATECHD candles · FIT view+16.8%Latest close ₹692.10 on 2026-10-21
Bar
-1.9%
RSI
38
MACD hist
2.50
52W pos
48%
2026-10-21O ₹705.15H ₹718.60L ₹690.00C ₹692.10Vol 5.2L sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
TATATECHNifty ITNifty 500
- TATATECH
- -5.1%
- Nifty 500
- -6.5%
- Nifty IT
- +12.0%
- Vs Nifty 500
- +1.4 pp
Chart stats
21 Oct 2026- From 52W high
- -22.3%
- 52W range position
- 48%
- ATR (14)
- 4.2%
- Volume vs 20D
- 0.44x
- Avg traded value
- ₹84.8 Cr
- 20D price channel
- ₹683.7 - ₹807.6
₹891
₹507.4 - ₹891
₹29.1
Latest completed session
20-session average
29.4% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, while price trend supports entry. This looks more like momentum/speculation than a clean fundamental investment setup.
Weak U-Score but strong trend: momentum may be ahead of fundamentals.
Suggested next step
Momentum only
Trend is strong but fundamentals do not support a clean investment thesis.
U-Score
Legacy · WATCHLIST44
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Average32
Revenue +28.4% · PAT +3.3% YoY
Technical
Bullish69
Price trend and sector-relative-strength timing.
Valuation
Legacy model-55.6%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence78
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Sept 2026
Average · 32/100margin compression · Rev +28% YoY · PAT +3% YoY
Filed 14 Oct 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹1,698.8 Cr | +28.4% | +2.0% |
| EBITDA | ₹273.3 Cr | +31.4% | +2.2% |
| Operating margin | 16.1% | +9 bps | +2 bps |
| PAT | ₹171.4 Cr | +3.3% | -5.2% |
| PAT margin | 10.1% | -246 bps | -77 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 44.80
- P/B
- 7.67
- EV/EBITDA
- 26.07
- Market Cap
- 29392.00Cr
Profitability
- ROE
- 16.30%
- ROCE
- 20.90%
- ROA
- 6.57%
- Dividend Y
- 1.15%
Growth (CAGR)
- Revenue 5Y
- 18.00%
- EPS 5Y
- 21.00%
- Revenue 3Y
- 8.00%
- EPS 3Y
- -1.00%
Balance Sheet
- Debt/Equity
- 0.29
- Interest Coverage
- 16.43×
- Altman Z
- 5.61
- Book Value
- 94.40
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 6/5
- OCF
- 776.00 Cr
- EPS TTM
- 13.86
Shareholding
- Promoter Hold
- 55.17%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 57%
Financial History
Updated 21/10/2026
Revenue
₹ CrLatest: 1,699+2.1% vs prev
Net Profit
₹ CrLatest: 171-5.2% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Bearish setupTrend is weak — long-term uptrend intact. RSI 38.
- Price above SMA200 (long-term uptrend) but mid-term MAs not aligned.
- SMA20 falling (~10.4% over last month) — short-term momentum negative.
- RSI(14) at 38 — falling, no extreme reading.
- MACD above signal but histogram contracting — bullish momentum cooling.
- 22% off 52W high · 36% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
76
RS percentile
Stage 1 Base / Transition
1M return
-4.5%
3M return
-5.1%
6M return
+22.8%
1Y return
-1.3%
RS 1D
+2
RS 20D
+8
Sector rank
#1
Industry rank
-
Stage evidence
- Price is within 1.4% of the 30-week proxy.
- The 30-week proxy changed +2.9% over 20 sessions.
- The moving-average structure does not confirm Stage 2 or Stage 4.
50-DMA
price below
200-DMA
price above
Sector
leading
Industry
unranked
Relative-strength line vs Nifty 500 (base 100)
262 observations
21 Oct 2026Value 106.58-0.93%
RS vs Nifty 500107
Valuation & peers
U-Score 44 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
Valuation & peers
U-Score 44 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
WATCHLIST
Fundamental score breakdown
U band · WATCHLISTValuation0/30
Growth14/25
Quality11/20
Balance Sheet10/15
Cash Flow4/10
Piotroski
8/9 (+5)
Penalties
0
Raw sum
44
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
44/100 · legacy band WATCHLIST
Positive drivers
- Piotroski is strong at 8/9.
- Balance sheet contributes 10/15 to the score.
- Growth contributes 14/25 to the score.
Main drags
- Fair-value margin of safety is negative at -55.6%.
- Valuation is weaker at 0/30; verify the latest quarterly trend.
- Cash flow is weaker at 4/10; verify the latest quarterly trend.
Sector valuation model
Execution business valuation: EV/EBITDA plus order and working-capital risk
Capital-intensive execution stories need cash-flow and balance-sheet checks alongside valuation.
Primary lens
EV/EBITDA and PE against execution quality and margin stability.
Secondary checks
Order book, receivables, working capital, debt, operating cash flow.
Main risk check
Order wins matter only if they convert into cash and margins.
PE
44.8
PB
7.7
EV/EBITDA
26.1
ROE
16.3%
ROCE
20.9%
FCF Yield
—
Debt/Equity
0.3
MoS
-55.6%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 21 Oct 2026
v4.3-runtime-valuation
Final score
44
Previous: 44
Legacy U-Score band
WATCHLIST
Previous: WATCHLIST
Margin of safety
-55.6%
Previous: -58.5%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
44
44
44
44
44
44
44
43
44
44
44
44
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹171.58
-303.4% MoS
Growth-justified P/E
32.1
Growth-justified Value
₹444.91
-55.6% MoS
PEG
2.13
Comparable companies
Peers
Business-comparable peers in IT — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
LTTS
Large
L&T Technology Services Limited
Engineering R&D Services
match 154
52
24.9
21.5%
+23%
FAIR VALUE
CYIENT
Large
Cyient Limited
IT Services / Digital
match 110
33
32.7
8.6%
-180%
WATCHLIST
NETWEB
Small
Netweb Technologies India Limited
IT Services / Digital
match 96
60
107.0
32.8%
-219%
UNDERVALUED
SIGMAADV
Small
SIGMA ADVANCED SYSTEMS LIMITED
IT Services / Digital
match 95
41
129.0
-4.0%
-213%
WATCHLIST
SHADOWFAX
Small
Shadowfax Technologies Limited
IT Services / Digital
match 93
35
100.0
10.4%
-143%
WATCHLIST
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-07-22T10:12:12.276Z
Management commentary snapshot
Q1 FY27 revenue up 25.2% YoY (CC) and 4.3% QoQ (CC), driven by strong services growth and large deal momentum. Management expresses increased confidence in FY27 double-digit organic growth with accelerating H2.
Strong Q1 performance with robust YoY and QoQ growth in both services and technology solutions. Diversification strategy is yielding results, reducing anchor account dependence. Large deal wins and AI investments position the company for accelerated growth, despite near-term margin investments and some Germany business headwinds.
Current business mix
Revenue by Segment (Q1 FY27)
Latest issuer-disclosed distribution across 2 reported categories.
Services78.0%
Technology Solutions22.0%
Growth engines
Large Strategic Deal Conversion
Strong traction in large strategic deal pursuits, including a $100M engagement with Tenneco and a full vehicle development program with a Japanese OEM.
Diversification beyond Anchor Accounts
Automotive non-anchor revenue grew 56.3% YoY; Aerospace and IHM are becoming increasingly meaningful contributors.
Software-Defined Products & AI
Customers prioritize programs accelerating product launches, improving efficiency, and strengthening software/AI capabilities.
Europe as a Growth Engine
Europe revenue reached $67.9 million, representing growth of 10.1% QoQ, reinforced by Es-Tec integration and Germany's strengthening.
Capacity and execution
BMW TechWorks Engineers
BMW TechWorks has crossed the milestone of 2,000 engineers, strengthening software-led engineering credentials.
Talent Development
TechVarsity delivered over 9,000 learning hours across GenAI, software-defined vehicles, and cybersecurity to over 2,000 employees this quarter.
Tailwinds
Increased Outsourcing Propensity
Customers increasingly outsource complete work packages and products, particularly to organizations demonstrating turnkey responsibility.
Clarity in EV Investment Landscape
Periods of compromised demand due to tariff announcements and tapering EV demand are ending, leading to renewed investments.
Accelerated Product Cycles
AI acts as a force multiplier for productivity, enabling faster product development (18-24 months vs. 36-48 months for Western OEMs).
Aerospace Sector Growth
Confidence in scaling Aerospace vertical faster than automotive, driven by Airbus involvement, Tata Group investments, and demand in Southeast Asia/India.
Headwinds
Germany Business Restructuring
Navigating temporary headwinds in parts of Germany business as certain customers work through restructuring and cost optimization initiatives.
Upfront Investment for Large Deals
Large strategic engagements entered mobilization, requiring upfront investments in talent, ramp-up, and capability development, causing near-term margin dilution.
Annual Wage Increase
Expect to absorb the associated cost impact of annual wage increase in Q2.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare BOTH
Both YoY and QoQ comparisons are relevant. YoY reflects underlying business growth and market share gains, while QoQ highlights sequential momentum, deal ramp-ups, and the impact of strategic investments and seasonality in certain segments.
Sector KPIs management disclosed
Total Revenue (CC)
$175.4 million, up 4.3% QoQ and 25.2% YoY.
Services Revenue (CC)
$136.6 million, up 4.3% QoQ and 24.4% YoY. Services represent ~78% of total revenue.
Operating EBITDA
$28 million, translating into an EBITDA margin of 16.1%, an increase of 10 basis points sequentially.
Automotive Non-Anchor Revenue
$43.9 million, growing 6.7% QoQ and 56.3% YoY.
Management forward view
FY27 Outlook
Continue to expect strong double-digit organic revenue growth for FY27, with services as the primary growth engine and margin expansion.
Growth Acceleration
Confidence has grown through the quarter; expect growth to accelerate as we move through the quarters of this fiscal, not taper in H2.
AI Strategy
AI strategy built around transforming service delivery, building differentiated offerings, strengthening partnerships, and delivering AI-ready talent.
Margin Ambition
Will balance investments with commitment to quarter-over-quarter margin improvement, prioritizing high-value engagements for long-term value.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Growth Acceleration in H2 FY27 | Q1 FY27 revenue growth 4.3% QoQ (CC). | Sequential revenue growth rates in Q2, Q3, and Q4 to confirm acceleration. |
| EBITDA Margin Expansion | 16.1% in Q1 FY27 (up 10 bps QoQ). | Continued quarter-over-quarter margin improvement, especially post Q2 wage hikes. |
| Diversification Progress | Anchor accounts 48.9% of services revenue; non-anchor automotive up 56.3% YoY. | Further reduction in anchor account concentration and sustained growth in Aerospace and IHM. |
| Large Deal Ramp-up | Tenneco deal execution beginning in Q2, full vehicle program scaling. | Revenue contribution and successful execution of new large strategic engagements. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
78Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 86th percentile of the scored universe and 81st percentile within IT. No major sub-score weakness stands out.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 21 Oct 2026
management-trust-v1
73 docs text-extracted · 21 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
86th percentile
overall median 67 · IT: 81st pctile, median 69 · Small: 89th pctile, median 66
Evidence depth
Financial-only
73 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
2 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Can support position sizing if valuation and trend also agree.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
67
acceptable · profit to cash conversion
Balance sheet
89
strong · leverage and solvency
Discipline
64
acceptable · capital discipline
Results
88
strong · quarterly consistency
Trust positives
- ▸Promoter holding is 55.2%.
- ▸Promoter pledge is zero.
- ▸6 years of positive FCF.
- ▸ROCE is 20.9%.
Trust risks
- ▸ROCE trend is -4.1%.
- ▸1 of the latest 4 quarters had PAT decline worse than 25% YoY.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Tata Technologies Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 22 Sep - Newspaper Advertisement- Notice to shareholders regarding transfer of Equity shares to IEPF
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 4 Sep
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 8 Aug
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 1 Jul - Tata Technologies and Tenneco sign $100 million engagement over five years, strengthening global mobility partnership.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 4 Jun - Tata Technologies launches InnoVent-27 hackathon with Emerson and AWS, offering ₹4.5 lakh prizes and jobs.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 4 Jun - Newspaper Advertisement regarding e-voting information for the 32nd Annual General Meeting of the Company
Source: Bse
Announcement
Intimation Of Record Date 29 May
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 25 May - Tata Technologies will attend BofA 2026 India Conference in Mumbai on June 2, 2026.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 18 May - Tata Technologies named Frost & Sullivan 2026 Asia-Pacific Company of the Year in autonomous vehicle engineering.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Dividend Updates 4 May - Board approved FY26 audited results and recommended Rs11.70 dividend per share on May 4, 2026.
Source: Bse
Annual report
Annual Report 2026
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.