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Tata Teleservices (Maharashtra) Ltd (TTML)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532371 NSE: TTML Telecommunication - Service Provider | Small Cap | Tata Teleservice(Mah Share Price

₹46.15 1.96 (4.44%)

As on 05-Jun'26 16:59

Tata Teleservices (Maharashtra) Ltd (TTML)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532371 NSE: TTML Telecommunication - Service Provider | Small Cap | Tata Teleservice(Mah Share Price

₹46.15 1.96 (4.44%)

As on 05-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹8,639 Cr.
Current Price
₹46.2
52-Week Low / High
₹30 / 81
TTM EPS
₹-1.1
TTM Sales
₹1,160 Cr.
Book Value per Share
₹-102.2
P/E Ratio
0.00
Industry PE
25.9
Price to Book (P/B)
-0.43
Higher than its 5-year historical median
Price to Sales (P/S)
7.45
Lower than its 5-year historical median
EV/EBITDA
46.30
Lower than its 5-year historical median
Dividend Yield
0.00%
Profitability Efficiency
Return on Equity (ROE)
0.00%
In line with industry median
Return on Capital Employed (ROCE)
157.86%
Outperforms industry median
Return on Assets (ROA)
-16.28%
Operating Profit Margin
53.2%
Net Profit Margin
-18.56%
Gross Profit Margin
-62.8%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-11.3%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
8.17%
Net Profit Growth (1 Year)
-
-
Asset Quality
Promoter Holding
74.36%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹-21,938 Cr.
Equity
₹1,954.9 Cr.
Face Value
₹10
All Time Low / High
₹1.80 / 291.05

Tata Teleservices (Maharashtra) stock performance

Key Ratios
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Quality

Somewhat Good
Check detailed performance

Valuation

Undervalued

Check Valuation charts

Price Trend

Strong
Check Price chart
Q.1 Is Tata Teleservices (Maharashtra) Ltd a good quality company?
Tata Teleservices (Maharashtra) Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

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We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

View More
How does Tata Teleservices (Maharashtra) Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Tata Teleservices (Maharashtra) Ltd vs industry peers?
Tata Teleservices (Maharashtra) Ltd revenue CAGR is 2.14%, compared to the industry median CAGR of 0.59%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Tata Teleservices (Maharashtra) Ltd?
Promoters hold 74.36% of the Tata Teleservices (Maharashtra) Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Tata Teleservices (Maharashtra) Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 20.6% based on the current price.
View More

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Tata Teleservices (Maharashtra) Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation ⓘ

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % ⓘ-12%-154.2%82.7%-457.8%-542.6%35.8%43.5%53.4%56.8%157.9%-
Value Creation
Index ⓘ		NANANANANANANANANANA-

Growth Parameters ⓘ
Sales ⓘ2,7031,8691,2771,0781,0441,0941,1061,1921,3081,1601,160
Sales YoY Gr.--30.9%-31.7%-15.6%-3.2%4.8%1.1%7.7%9.8%-11.3%-
Adj EPS ⓘ-11.9-50.2-5.4-10.5-7.4-6.2-5.9-6.3-6.5-3.5-1.1
YoY Gr.-NANANANANANANANANA-
BVPS (₹) ⓘ-30.2-77.5-75.8-89.4-94.6-96.3-97.5-98.5-100.1-102.2-102.2
Adj Net
Profit ⓘ		-2,317-9,807-1,047-2,060-1,453-1,219-1,147-1,234-1,279-680-215
Cash Flow from Ops. ⓘ730603-734-360567530558587505668-
Debt/CF from Ops. ⓘ22.225.8-22.5-46.434.337.235.53440.331-

CAGR ⓘ

9 Years 5 Years 3 Years 1 Years
Sales ⓘ-9%2.1%1.6%-11.3%
Adj EPS ⓘNANANANA
BVPSⓘNANANANA
Share Price 22.2% 19.4% -9.9% -35.1%

Key Financial Parameters ⓘ

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity % ⓘ		46.893.1712.88.16.56.16.46.63.41.1
Op. Profit
Mgn % ⓘ		24.23.416.539.246.942.844.544.343.753.253.2
Net Profit
Mgn % ⓘ		-85.7-524.9-82-191.1-139.2-111.4-103.7-103.6-97.8-58.6-18.5
Debt to
Equity ⓘ		-2.8-1-1.1-1-1.1-1.1-1-1-1-1-
Working Cap
Days ⓘ		16321822921921616313111510611134
Cash Conv.
Cycle ⓘ		-58-79-95-76-106-84-70-72-58-88-2,239

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Sales2,7031,8691,2771,0781,0441,0941,1061,1921,3081,160
Operating Expenses ⓘ + 2,1261,8781,078656555626614664737543
Manufacturing Costs1,191879675503447484502535604409
Material Costs8200000000
Employee Cost 1261036559495562718386
Other Costs ⓘ 80289333994588750585048
Operating Profit ⓘ 576-9199422489468493527571617
Operating Profit Margin (%) 21.3%-0.5%15.6%39.1%46.8%42.8%44.5%44.3%43.6%53.2%
Other Income ⓘ + 10421153335241717161615
Exceptional Items ⓘ -959-7,942331-2,430-7800-500655
Interest ⓘ 1,2821,5691,5541,5451,5611,5391,5021,6221,6941,361
Depreciation ⓘ 796533178195169160147150168142
Profit Before Tax ⓘ -2,356-9,842-668-3,714-1,997-1,215-1,145-1,228-1,275-215
Tax ⓘ 0000000000
Profit After Tax -2,356-9,842-668-3,714-1,997-1,215-1,145-1,228-1,275-215
PAT Margin (%) -87.2%-526.0%-52.3%-344.0%-191.0%-111.0%-103.0%-103.0%-97.5%-18.6%
Adjusted EPS (₹)-12.1-50.3-3.4-19.0-10.2-6.2-5.9-6.3-6.5-1.1
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Valuation of Tata Teleservice(Mah - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + -5,909-15,159-14,820-17,479-18,491-18,832-19,055-19,253-19,570-19,983
Share Capital ⓘ 1,9551,9551,9551,9551,9551,9551,9551,9551,9551,955
Reserves ⓘ -7,864-17,114-16,775-19,434-20,446-20,787-21,009-21,208-21,525-21,938
Debt +14,96813,16912,63910,47712,98713,78011,53114,03511,82115,585
Long Term Debt10,6627,8625,7086,1389,86910,71110,02712,95710,8652,920
Short Term Debt4,3055,3066,9314,3383,1183,0691,5041,07895612,665
Minority Interest0000000000
Trade Payables521482209291259224209267211239
Others Liabilities ⓘ 2,3264,8886,5028,4266,7556,1938,5256,2588,8425,501
Total Liabilities ⓘ 11,9063,3804,5311,7141,5091,3651,2111,3071,3041,341

Fixed Assets

Net Fixed Assets ⓘ +9,937847718894830779740788798939
Gross Block16,3613,7613,5563,9143,9873,9583,8633,8754,0264,185
Accumulated Depreciation6,4242,9142,8383,0203,1573,1793,1223,0873,2283,247
CWIP ⓘ 27272639292834593528
Investments ⓘ 68037860907010166345823
Inventories2000000000
Trade Receivables227158891227812111015614595
Cash Equivalents 373917185431714324216
Others Assets ⓘ 9971,9322,917575458319246237226240
Total Assets ⓘ 11,9063,3804,5311,7141,5091,3651,2111,3071,3041,341

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity ⓘ + 730603-734-360567530558587505668
PBT ⓘ -2,356-9,842-668-3,714-1,997-1,215-1,145-1,228-1,275-215
Adjustment ⓘ 3,09410,2039383,4782,4981,6941,6361,7621,853827
Changes in Working Capital ⓘ -28201-1003-10028395071-8470
Tax Paid ⓘ 2041-1-24381217-1811-14
Cash Flow From Investing Activity ⓘ + -2,198259-101510-177-130-66-65-109-91
Capex -2,131-77-127-109-110-104-109-104-92-133
Net Investments -67327-203619-68-284139-1842
Others ⓘ 0102280223-010
Cash Flow From Financing Activity ⓘ + 1,041-860967-237-432-427-494-503-386-604
Net Proceeds from Shares ⓘ 0000000000
Net Proceeds from Borrowing ⓘ 287-6,64600000-110198-1,253
Interest Paid ⓘ -812-1,007-2,014-619-365-296-416-453-400-392
Dividend Paid ⓘ 0000000000
Others ⓘ 1,5666,7932,982382-68-130-7960-1841,041
Net Cash Flow ⓘ -4272132-87-42-26-21810-27

Financial Ratio

PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
ROCE (%)N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Asset Turnover Ratio0.250.240.320.350.650.760.860.9510.88
PAT to CFO Conversion(x)N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Working Capital Days
Receivable Days3537.6035.3035.703533.3038.1040.7041.9037.80
Inventory Days0.500.2000000000
Payable Days0000000000

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Tata Teleservices (Maharashtra) Ltd FAQs

The current trading price of Tata Teleservice(Mah on 05-Jun-2026 16:59 is ₹46.15.

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 04-Jun-2026 the market cap of Tata Teleservice(Mah stood at ₹8,638.8 Cr

The latest P/E ratio of Tata Teleservice(Mah as of 04-Jun-2026 is 0.00.

The latest P/B ratio of Tata Teleservice(Mah as of 04-Jun-2026 is -0.43.

The 52-week high of Tata Teleservice(Mah is ₹81.16 and the 52-week low is ₹30.12.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Tata Teleservice(Mah is ₹1,160 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Tata Teleservices (Maharashtra) Ltd is a average quality company.

The key valuation ratios of Tata Teleservices (Maharashtra) Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Tata Teleservices (Maharashtra) Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

About Tata Teleservices (Maharashtra) Ltd

Tata Teleservices (Maharashtra) (TTML) is a leading player in the connectivity and communication solutions market serving enterprise customers. With services ranging from connectivity, collaboration, cloud, security, IoT and marketing solutions, it offers a comprehensive portfolio of ICT services for businesses in India under the brand name Tata Tele Business Services (TTBS). TTBS provides integrated telecom solutions to enterprises that go beyond the purview of connectivity into offering one-stop-shop business solutions and managed services. The solutions allow enterprises to be resilient and maintain business continuity in a flexible, scalable and secure manner. It follows a progressive approach of partnering with Small & Medium Businesses (SMBs) as their trusted technology enabler, empowering them with a comprehensive portfolio of connectivity and digital solutions. Delivering customer delight with solutions through a deeper understanding of unique customer needs makes TTML one of the most reliable telecom service providers.

Business area of the company

The company is engaged in providing telecommunication services under Unified License. The company provides telecommunication services only in the Indian domestic market.

Smart Digital Solutions

Network & Connectivity

  • Internet Leased Line
  • Smart WAN
  • Broadband
  • Business Wi-Fi
  • P2P Leased Line
  • Ultra-LOLA

Business Communication

  • Integrated Solutions
  • Inbound Communications
  • Outbound & Marketing Communications

Managed Services

Security Solutions

Awards and accolades

2014-15

  • ET Telecom Award for Excellence in Energy Management.
  • QualTech Award for Sustainability in 26th Qimpro Convention.
  • Voice & Data Telecom Leadership Award for Energy Management.

2018-19

  • CII Award for Customer Obsession.
  • TelecomLead Innovation Leader Award for SmartOffice
  • International Echo Awards for Meet4Solutions (Digital Platform).
  • Global Marketing Excellence Award for Excellence in Content Marketing.
  • Prestigious Brands of India Award - B2B Telecom Service Provider.

2019-20

  • The Company won the Digital Marketing award for “Marketing to Unique Audience” in B2B sector at the e4M Indian Marketing Awards 2019.
  • International Echo Awards for Meet4Solutions (Digital Platform) in 2019
  • Global Marketing Excellence Award for Excellence in Content Marketing.

2020-21

  • CIO Select Award Integrated Telco-grade Cloud Communication Suite – Smartflo 2021
  • Digital Terminal Awards Best Enterprise Service Provider Brand 2020
  • Telecom Lead Innovation Leaders SmartOffice 2019
  • CII Customer Obsession Award Customer Engagement 2019
  • e4M Indian Marketing Awards Marketing to Unique Audience in B2B sector 2019
  • International Echo Awards Meet4Solutions (Digital Platform) 2018

2021-22

  • ET Telecom Award for Enterprise Service Provider of the Year 2022
  • CIO Select Product Award for Integrated Telco-grade Cloud Communication Suite - Smartflo 2021
  • CII Customer Obsession Award for Active Customer Engagement 2021
  • Innovation & Technology (Inn-Tech) Award for Gold for Best Product Innovation – Smartflo 2021
  • SME Chamber of India Award for Best Corporate of the Year for Empowering SMEs 2021

2022-23

  • ET Telecom Award 2023 for Best Enterprise Service Provider of the Year
  • Silver Feather Awards 2022 for Best Service Provider of the Year
  • Microsoft Cloud Champion 2023 for Modern Workplace Category
  • ET Telecom Award 2023 for Best Digital Transformation of the Year – Smartflo
  • National Awards for Leadership & Excellence in Branding & Marketing 2022
  • Digital Terminal Award 2022
  • Stevie Asia Pacific Award 2022
  • Unlocked Business Excellence Award 2022

2023-24

  • CII DX Award for Best Practice in Digital Transformation
  • Voice & Data Telecom Award for Best in Business Process Innovation
  • E4M Martech Award for Best Use of Martech in CX
  • CX Innovation & Tech Award for Best Innovation
  • Unlocked Award for Best New Product Smart Internet
  • Unlocked Award for Best Enterprise Product Smartflo
  • ET Future Ready Organisation Award
  • Customer Fest Leadership Award

2024-25

  • ET Telecom Awards 2025 for Enterprise Digital Transformation of the Year
  • ET Telecom Awards for Best Customer Service
  • Customer Fest Award for Best use of Innovation to Enhance Customer Experience eNXT
  • National Feather Awards for Innovation in Customer Care Telecom Sector
  • Unlocked Awards for Best use of Technology for Customer Service eNXT
  • ET Telecom Awards 2025 for Best Brand Awareness 
  • vIDEA Award for Video Campaign Azaadi Kuch Bada Karne Ki
  • Unlocked Award for Best B2B Campaign Dreams Se No Samjhauta
  • e4m Martech India Awards for Best use of Martech for Sales Enablement and for Best use of Martech B2B
  • Bharat CSR & Sustainability Summit Award for Best Workplace CSR Practice Award
  • Social Star Award for Best Integrated Campaign Dreams Se No Samjhauta and for Best B2B Campaign IT Professionals Day
  • ET DG+ Awards for Best B2B Campaign Dreams Se No Samjhauta
  • DOD Awards for Best B2B Digital Campaign Empowering and for Businesses to Do Big
  • e4m Performance Marketing Awards for Best B2B Campaign

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