Key Metrics of Persistent Systems
About Persistent Systems
Sectors
Company details
- Website
- persistent.com
- Founded
- 1990
- Registered office
- Bhageerath, 402 Senapati Bapat Road, Pune, In-mh, 411016
- Listed
- NSE: PERSISTENT · ₹6,051.00
Operational Areas of Persistent Systems
Company summary
Entity details
Compliance
Industry classification
Financials, ratios and risk analysis
Revenue, EBITDA, net profit, net worth, debt and assets for every filing year, 15+ ratios, the financial health score, shareholding, charges and peer comparison are part of the premium plan.
Sign in to continue See plans & pricingFiling compliance
Due dates follow the Companies Act: AGM within six months of the year end, AOC-4 within 30 days and MGT-7 within 60 days of the AGM. A filing made but not yet uploaded here shows as pending.
Vendor checks & payment capacity
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Credit ratings
WatchNegative outlook (ICRA)
NoteRating watch (ICRA, 22 Oct 2026)
Rating history
Rating actions
| Date | Agency | Action | Long term | Short term | Outlook | Rated amount | Rationale |
|---|---|---|---|---|---|---|---|
| 22 Oct 2026 | ICRA | Watch | AA+ | A1+ | Negative | ₹8,000 Cr | View |
| 09 Oct 2026 | ICRA | Watch | AA+ | — | Negative | ₹5,000 Cr | View |
| 07 Jul 2026 | ICRA | Watch | AA+ | — | Negative | — | View |
Credit strengths (ICRA, Oct 2026)
+ Experienced management team, with an established operational track record
PSL is successfully led by Dr. Anand Deshpande, who hasmore than 35 years of experience in the IT services industry.
+ Strong revenue growth, healthy order book position provides revenue visibility
During FY2021-FY2026, PSL’s revenues increased at a CAGR of 28.6% (in INR terms), with revenues of $1.6 billion (at a consolidated level) in FY2026.
+ Healthy earnings, which would improve significantly with the proposed acquisition, supporting the financial profile
The revenues of PSL and Nagarro stood at $1.6 billion and $1.1 billion, respectively, in FY2026.
Credit challenges
− Industry specific challenges like intense competition, forex risk, and exposure to policies in key operating markets
PSL’s revenue and profit margin remain susceptible to demand softening and decline in discretionary spending as it operates in the intensely competitive IT services industry.
Could lead to an upgrade
The long-term rating could be upgraded if the company demonstrates significant improvement in its scale of business coupled with sustained improvement in earnings, supported by growth across verticals and improvement in geographical diversification, while maintaining st rong debt coverage indicators and comfortable
Agency-reported financials (ICRA, 22 Oct 2026)
| Metric | FY2025 | FY2026 | H1 FY2027 |
|---|---|---|---|
| Operating income (OI) | ₹11,939 Cr | ₹14,748 Cr | ₹8,967 Cr |
| PAT | ₹1,400 Cr | ₹1,865 Cr | ₹835 Cr |
| OPBDITA/OI | 16.0% | 19.0% | 18.6% |
| PAT/OI | 11.7% | 12.6% | 9.3% |
| Total outside liabilities/Tangible net worth (times) | 0.40× | 0.40× | 0.50× |
| Total debt/OPBDITA (times) | 0.20× | 0.20× | 0.20× |
| Interest coverage (times) | 28.50× | 38.50× | 25.00× |
| Revenue growth (YoY) | — | 23.5% | — |
| EBITDA (margin × income) | ₹1,910 Cr | ₹2,802 Cr | ₹1,668 Cr |
| Implied total debt (debt/EBITDA × EBITDA) | ₹382 Cr | ₹560 Cr | ₹334 Cr |
| Implied interest cost (EBITDA ÷ coverage) | ₹67.02 Cr | ₹72.78 Cr | ₹66.72 Cr |
Borrowings & rated debt
Rated limits over time
Facility mix
Rated facilities
| Facility | Type | Previous | Current | Change | Rating | Action | Agency |
|---|---|---|---|---|---|---|---|
| continues on Non-convertible debentures | Debentures & bonds | ₹5,000 Cr | ₹5,000 Cr | 0.0% | AA+ | Watch | ICRA |
| Watch Non-convertible debentures with | Debentures & bonds | — | ₹2,000 Cr | — | AA+ | Watch | ICRA |
| Commercial paper | Commercial paper | — | ₹1,000 Cr | — | A1+ | Assigned | ICRA |
Credit assessment · Services
Rating Methodology – Service Sector Companies · Standalone accounts · FY 2025-26
Ratios, pillar scores and the indicative rating are part of Premium.
Rating status
| Default | No default on record |
| Issuer cooperation | Cooperating |
| Credit enhancement | None – standalone rating |
| Next action stable or better (model) | 54% |
| Information on file | 78% · missing: Capex / investment plans, Auditor details |
Indicative assessment from public data using the published methodology factors; not a credit rating.
Borrowing & funding lifecycle
- Credit outlook model: 48% chance the next rating action is stable or better
- Current rating AA+ (investment grade)
- Interest coverage 25×
Rated limits by facility
Timeline
From the report
Nevertheless, the free cash and liquid investments of around Rs. 3,500 crore of the consolidated entity as on June 30, 2026, and the proposed equity infusion to fund a part of the acquisition consideration would support the liquidity.
From the report
Nevertheless, the free cash and liquid investments of around Rs. 3,500 crore of the consolidated entity as on June 30, 2026, and the proposed equity infusion to fund a part of the acquisition consideration would support the liquidity.
From the report
Nevertheless, the free cash and liquid investments of around Rs. 3,500 crore of the consolidated entity as on June 30, 2026, and the proposed equity infusion to fund a part of the acquisition consideration would support the liquidity.
From the report
Nevertheless, the free cash and liquid investments of around Rs. 3,500 crore of the consolidated entity as on June 30, 2026, and the proposed equity infusion to fund a part of the acquisition consideration would support the liquidity.
Lender names, bank charges and audited borrowings are part of Premium.
Built from MCA charges, ICRA/CARE rating reports and audited accounts. The borrowing view is an estimate, not a lender's credit decision.
Registered office and contact
Directors and key people
Directors are read from the MGT-7 annual return and AOC-4 signatories.
Competitors of Persistent Systems
Top competitors by location
| Company | Description | Domain | Founded | Location |
|---|---|---|---|---|
 Infosys |
IT Services & Consulting · IT Services | infosys.com | 1981 | India |
 Wipro |
Part of Wipro. | wipro.com | 1945 | India |
 Tata Consultancy Services |
Indian IT Services · IT Services & Software | tcs.com | 1968 | Mumbai, India |
 HCL Technologies |
Indian IT Services · IT Services & Software | hcltech.com | 1991 | New Delhi, India |
 Tech Mahindra |
IT Services & Consulting · IT Services | techmahindra.com | 1987 | Mumbai, India |
 LTM Limited |
Indian IT Services · Business Services | ltm.com | 1997 | Mumbai, Maharashtra, India |
 Coforge Limited |
Travel & Tourism · Restaurants, Hotels & Travel | coforge.com | — | Gurugram, Haryana, India |
 Mphasis |
Indian IT Services · IT Services & Software | mphasis.com | 2000 | Bangalore, India |
 Meesho |
Product & Internet Companies · IT Services & Software | meesho.com | — | Bangalore, India |
| Indian IT Services · Business Services | ltts.com | — | Mumbai, Maharashtra, India |
Similar companies
Charges (secured borrowings)
0 registered charges. Lenders, amounts and dates are part of the premium plan.
Statutory auditors
Auditors are read from the AOC-4 auditor's report section.
Business activities and related parties
Software product engineering
Filings
No filings on record yet.