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Shareholding Info
  • Promoters
    36.47 %
  • Foreign institutions-FII
    14.1 %
  • Other domestic institutions
    4.8 %
  • Retail and other
    43.02 %
  • Mutual Funds
    1.61 %

Mastek Limited


Mastek Limited is an enterprise-digital and cloud transformation company. It is headquartered in Mumbai. The company offers digital transformation services and software to significant public and private enterprises.

The company was established on May 14, 1982, under the name Management and Software Technology Private Limited. It initially focused on designing and delivering computer software solutions. In that very year, it successfully launched its first project- a decision-support system aimed at generating an optimised production plan for Vicks Vaporub in India.

Over the years, Mastek Limited has grown in its scale of operations. Mastek Limited became the only IT company included in the Fortune India 'Next 500' list in 2002.

Mastek Limited has also many acquisitions over the years. It expanded its presence and capabilities through the acquisition of TAISTech, a digital commerce company based in the United States in 2016. This move aimed to enhance Mastek's digital services and strengthen its position in its vertical. The year 2015 witnessed another acquisition by Mastek, as the company added IndigoBlue to its portfolio. IndigoBlue, a UK-based consultancy firm, specialising in Agile planning, delivery and governance.

The market capitalisation of Mastek Limited is ₹8,433 crore as of January 11, 2024. Mastek share price has gained 105.25% in the last three years.

Business operations


Mastek Limited delivers enterprise technology solutions and platforms to insurance, government and financial services organisations worldwide. The company is involved in the architecture, design, development, integration and maintenance of strategic applications. It primarily focuses on the insurance and government sectors.

Mastek also provides a range of products including property and casualty offerings like STG Policy Administration, STG Billing Solution, STG Product Modeler, STG Claims and Distribution Management System. It also offers life and annuity products, such as the Elixir Policy Administration System, a new business and underwriting platform and billing solutions.

The company serves customers in 40 countries, spanning UK, Europe, US, Middle East, Asia Pacific and India. Mastek Limited conducts its operations across various locations, with a total of 34 sites, comprising 12 offices in India and 22 abroad. The company operates on both a national and international scale through its subsidiaries. It serves markets in five states in India and extends its reach internationally to fifteen countries.

Mastek Limited serves over 500 active customers and has successfully implemented cloud solutions over 1,000 times. It has a track record of serving more than 1,500 customers. In terms of revenue distribution for FY23, 62% came from the UK and Europe, 24% from the US, 9% from the Middle East and 5% from the Rest of the World (RoW).

Financial highlights

  • – Mastek Limited's revenue from operations for FY23 stood at ₹2,563.39 crore, up by 17.4% compared to ₹2,183.84 crore in FY22.
  • – The net profit after tax for FY23 was ₹310.27 crore compared to ₹333.42 crore during the previous year.
  • – In FY23, the earnings before interest, tax, depreciation and amortization (EBITDA) decreased to ₹494.1 crore from the previous year's ₹498.6 crore.
  • – The company's earnings per share (EPS) stood at ₹97.23 in FY23 compared to ₹106.52 in the previous financial year.
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