MarketFriction

Tata Teleservices (Maharashtra) Ltd

NSE TTML · BSE 532371 · Telecom - Cellular & Fixed line services
₹34.82 +1.52%
NSE close2026-10-01
52 week range31.22 - 60.08
Market cap₹6,877 Cr.
Nifty 500Smallcap 250 Price band 20% Delivery 12.6%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Standalone, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales287296323324344333308284286294296302
Expenses159157182188205182155138146119132137
Operating Profit128139141135138150153147140175163165
OPM %44%47%44%42%40%45%50%52%49%60%55%55%
Other Income2335212-22-26652
Interest403411414423429423419433425288215206
Depreciation363839414243423737363233
Profit before tax-310-308-309-323-330-315-306-325-321-150581-72
Tax %0%0%0%0%0%0%0%0%0%0%0%0%
Net Profit-310-308-309-323-330-315-306-325-321-150581-72
EPS in Rs-1.59-1.57-1.58-1.65-1.69-1.61-1.57-1.66-1.64-0.772.97-0.37
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales2,9722,7031,8691,2771,0781,0441,0941,1061,1921,3081,1601,178
Expenses2,2272,0571,734614656555626614664737543534
Operating Profit745646135664422489468492527571617643
OPM %25%24%7%52%39%47%43%45%44%44%53%55%
Other Income40-924-7,875400-2,396-75617111616670666
Interest6841,2821,5691,5541,5451,5611,5391,5021,6221,6941,3611,134
Depreciation460796533178195169160147150168142138
Profit before tax-358-2,356-9,842-668-3,714-1,997-1,215-1,145-1,228-1,275-21538
Tax %0%0%0%0%0%0%0%0%0%0%0%
Net Profit-358-2,356-9,842-668-3,714-1,997-1,215-1,145-1,228-1,275-21538
EPS in Rs-1.83-12.05-50.35-3.42-19.00-10.21-6.22-5.86-6.28-6.52-1.100.19
Dividend Payout %0%0%0%0%0%0%0%0%0%0%0%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth-9%2%2%-7%
Compounded Profit Growth%5%7%51%
Stock Price CAGR20%-1%-29%-36%
Return on Equity%%%%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital1,9551,9551,9551,9551,9551,9551,9551,9551,9551,9551,9551,955
Reserves-4,923-5,941-7,864-17,114-16,775-19,434-20,446-20,787-21,009-21,208-21,525-21,938
Borrowings7,41011,65416,22015,57816,54516,89519,53919,79419,86920,04720,41620,869
Other Liabilities1,6021,7941,5952,9612,8052,298461403397513458455
Total Liabilities6,0449,46211,9063,3804,5311,7141,5091,3651,2111,3071,3041,341
Fixed Assets4,1883,3637,460847718894830779740788798939
CWIP464,2462,504272639292834593528
Investments059268037860907010066345823
Other Assets1,8091,2601,2632,1293,178781580457369425413351
Total Assets6,0449,46211,9063,3804,5311,7141,5091,3651,2111,3071,3041,341
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity636766730603-734-360567530558586505668
Cash from Investing Activity-785-1,183-2,198259-101510-177-130-66-64-109-91
Cash from Financing Activity1774341,041-860967-237-432-427-494-503-386-604
Net Cash Flow2818-4272132-87-42-26-21810-27
Free Cash Flow-149513-1,401526-861-469457426449482413535
CFO/OP114%97%110%417%-110%-80%108%111%110%115%87%110%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days253631312641274036484030
Inventory Days
Days Payable
Cash Conversion Cycle253631312641274036484030
Working Capital Days-448-679-893-1,775-3,110-4,188-3,370-3,058-3,310-2,239-2,724-5,675
ROCE %1%5%-1%-5%50%42%147%32%40%48%50%56%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters74.36%74.36%74.36%74.36%74.36%74.36%74.36%74.36%74.36%74.36%74.36%74.36%
FIIs2.23%2.26%2.46%2.38%2.39%2.34%2.53%2.81%2.64%2.64%2.60%2.52%
DIIs0.06%0.05%0.06%0.07%0.08%0.09%0.12%0.12%0.13%0.14%0.17%0.18%
Public23.35%23.33%23.12%23.19%23.16%23.18%22.98%22.70%22.87%22.87%22.87%22.94%
No. of Shareholders8,21,3548,08,6188,20,3728,17,12110,18,22310,44,61610,38,03710,38,99310,10,7989,89,8359,61,6149,46,056

Fundamentals

Market Cap₹ 6,877 Cr.
Current Price₹ 35.2
Book Value₹ -102
ROCE55.6 %
ROE%
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)-7%
Compounded Profit Growth (TTM)51%
Standalone figures.
Valuation
Market capRs 6,807 Cr
Enterprise valueRs 27,660 Cr
P/E (TTM)181.38x
Price to book-0.34x
Price to sales5.78x
EV / EBITDA21.12x
EV / EBIT23.61x
EV / sales23.49x
Price to cash flow10.20x
Earnings yield0.55%
P/B, 3-year average-0.54x
P/B, 5-year average-0.78x
Profitability
Operating margin (excl. other income)53.21%
Operating margin (incl. other income)110.97%
EBITDA margin111.24%
Pre-tax margin3.19%
Net profit margin3.19%
Net margin, latest quarter-23.92%
ROE1.09%
ROCE132.37%
ROA-16.28%
ROE, 3-year average4.69%
ROCE, 3-year average77.44%
ROA, 3-year average-70.52%
ROE, 5-year average5.33%
ROCE, 5-year average60.96%
ROA, 5-year average-77.00%
ROIC (approx.)134.69%
Other income / net worth-3.35%
Growth
Sales growth (latest year)-11.30%
Sales CAGR, 3 years1.60%
Sales CAGR, 5 years2.14%
Sales growth QoQ2.04%
Profit growth QoQ-112.42%
Sales growth YoY (latest quarter)6.09%
Per share
EPS (TTM)Rs 0.19
EPS (latest year)Rs -1.10
EPS (latest quarter)Rs -0.37
EPS, 3-year averageRs -4.64
EPS, 5-year averageRs -5.20
Book value per shareRs -102.22
Sales per shareRs 6.02
Cash flow per shareRs 3.41
Free cash flow per shareRs 2.74
Efficiency
Asset turnover0.87x
Fixed asset turnover1.24x
Debtor days30 days
Debtors turnover12.15x
Cash conversion cycle30 days
Working capital days-5675 days
Leverage
Total debtRs 20,869 Cr
Cash and bankRs 16 Cr
Net debtRs 20,853 Cr
Debt to equity-1.04x
Net debt / EBITDA15.92x
Interest coverage1.03x
Current ratio (filing 2026-03-31)0.01x
Quick ratio (filing 2026-03-31)0.01x
Trade payables (filing 2026-03-31)Rs 239 Cr
Owners' fund to total sources-1490.15%
Debt to assets1556.19%
Cash flow
Cash from Operating Activity (latest year)Rs 668 Cr
Cash from Investing Activity (latest year)Rs -91 Cr
Cash from Financing Activity (latest year)Rs -604 Cr
Net Cash Flow (latest year)Rs -27 Cr
Free cash flow (latest year)Rs 535 Cr
FCFE (approx.: FCF + change in debt)Rs 988 Cr
Sales to cash flow1.74x
Statement figures
Net sales (TTM)Rs 1,178 Cr
Net sales (latest year)Rs 1,160 Cr
Sales (latest quarter)Rs 302 Cr
Operating profit excl. other income (latest year)Rs 617 Cr
Operating profit (latest quarter)Rs 165 Cr
Other income (TTM)Rs 666 Cr
EBITDA (TTM)Rs 1,310 Cr
PBDT (TTM)Rs 176 Cr
Profit before tax (TTM)Rs 38 Cr
Net profit (TTM)Rs 38 Cr
Net profit (latest year)Rs -215 Cr
Net profit (latest quarter)Rs -72 Cr
Depreciation (TTM)Rs 138 Cr
Depreciation (latest quarter)Rs 33 Cr
Interest (TTM)Rs 1,134 Cr
Cost of goods sold (latest year)Rs 323 Cr
Total expenditure (latest year)Rs 543 Cr
Total income (latest year)Rs 1,830 Cr
Share capitalRs 1,955 Cr
ReservesRs -21,938 Cr
Shareholders' fundsRs -19,983 Cr
Total assetsRs 1,341 Cr
Net blockRs 939 Cr
Capital work in progressRs 28 Cr
InvestmentsRs 23 Cr
ReceivablesRs 95 Cr
Other liabilitiesRs 455 Cr
Shares outstanding (crore)195.49
Ownership
Promoter holding74.36% (+0.00 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
Not enough history to build valuation bands (needs two years of profits and prices).
PeriodTTMLNifty 50Difference
1 week-0.6%-2.8% +2.2 pts
1 month-10.5%-6.8% -3.7 pts
3 months-18.6%-7.6% -11.0 pts
6 months+11.0%+0.4% +10.6 pts
1 year-37.6%-9.9% -27.7 pts
2 years-60.0%-13.6% -46.4 pts
3 years-65.0%+14.2% -79.2 pts
5 years-6.1%+27.9% -34.0 pts
28 mutual fund schemes hold about ₹10 Cr. Over three months 26 bought more and 1 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Nippon India Nifty Smallcap 250 Index Fund0.09%3 +7%
SBI Nifty Smallcap 250 Index Fund0.09%2 +7%
Motilal Oswal Nifty Smallcap 250 Index Fund0.09%1 +7%
Nippon India Nifty 500 Equal Weight Index Fund0.19%1 +15%
ICICI Pru Nifty Smallcap 250 Index Fund0.09%1 +7%
HDFC NIFTY Smallcap 250 Index Fund0.09%1 +7%
JioBlackRock Nifty Smallcap 250 Index Fund0.09%0 +7%
Motilal Oswal Nifty 500 Index Fund0.01%0 +12%
Edelweiss Nifty Smallcap 250 Index Fund0.09%0 +7%
HDFC Nifty India Digital Index Fund0.16%0 -5%
Groww Nifty Smallcap 250 Index Fund0.09%0 +7%
HDFC Nifty500 Multicap 50:25:25 Index Fund0.02%0 +8%
Bandhan Nifty Smallcap 250 Index Fund0.09%0 +7%
SBI Nifty 500 Index Fund0.01%0 +12%
Kotak Nifty Smallcap 250 Index Fund0.09%0 +7%
Groww Nifty Total Market Index Fund0.01%0 +11%
Axis Nifty 500 Index Fund0.01%0 +12%
DSP Nifty Smallcap 250 Index Fund0.09%0 +6%
ICICI Pru Nifty 500 Index Fund0.01%0 +12%
Angel One Nifty Total Market Index Fund0.01%0 +11%
UTI Nifty 500 Index Fund0.01%0 +100%
Zerodha Nifty MidSmallcap400 50:50 Index Fund0.04%0 -6%
Navi Nifty 500 Multicap 50:25:25 Index Fund0.02%0 +8%
Motilal Oswal BSE 1000 Index Fund0.01%0 +11%
DSP Nifty 500 Index Fund0.01%0 +12%

Red flags

F-score 6 of 8
seriousNegative equity Shareholders' equity is negative
lookRepeated losses Net loss in each of the last two years
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹302 Cr +6.3% vs Jun 2025. Net loss ₹72 Cr.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2019-07-11 De-Merger
2018-09-24 Annual General Meeting
2017-07-25 Annual General Meeting
2016-08-18 Annual General Meeting
2015-09-11 Annual General Meeting
2014-09-12Annual General Meeting
2013-09-11Annual General Meeting
2013-08-07Bonus 2:150.8824
2012-08-14Annual General Meeting
2011-08-03Annual General Meeting
2010-07-22Annual General Meeting
2009-07-30Annual General Meeting
2008-07-25Annual General Meeting
2007-08-03Agm
2006-10-19Rights-19:100 @ Prem Rs.7
2006-07-18Agm
DateTypeWhat it says
2026-09-30RetirementRelating to superannuation of Senior Management Personnel of the Company.
2026-09-30News clarificationThe Exchange has sought clarification from Tata Teleservices (Maharashtra) Limited with respect to recent news item captioned Tata Chemicals, TMPV sha...
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Order dateForumCase
2021-04-08NCLTTata Teleservices (Maharashtra) Ltd and Bharti Airtel Ltd Vs
2021-04-08NCLTTata Teleservices Ltd and Bharti Airtel Ltd and Bharti Hexacom Ltd Vs
2021-02-19NCLTTata Teleservices (Maharashtra) Ltd and Bharti Airtel Ltd Vs
2021-02-19NCLTTata Teleservices Ltd and Bharti Airtel Ltd and Bharti Hexacom Ltd Vs
2020-12-03NCLTTata Teleservices (Maharashtra) Ltd and Bharti Airtel Ltd Vs
2020-12-03NCLTTata Teleservices Ltd and Bharti Airtel Ltd and Bharti Hexacom Ltd Vs
Orders from NCLT, NCLAT and CESTAT naming the company. Click a row for the order.
Scrip PE is greater than 50 (4 trailing quarters)

Quick answers

What is the market cap of Tata Teleservices (Maharashtra) Ltd?

Tata Teleservices (Maharashtra) Ltd (TTML) has a market capitalisation of Rs 6,877 Cr. at the 2026-10-01 close.

What were Tata Teleservices (Maharashtra) Ltd's latest quarterly results?

In the Jun 2026 quarter, Tata Teleservices (Maharashtra) Ltd sales was Rs 302 Cr (+6.3% vs Jun 2025) with a net loss of Rs 72 Cr.

What is the 52-week high and low of Tata Teleservices (Maharashtra) Ltd?

The 52-week high is Rs 60.08 and the 52-week low is Rs 31.22.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03