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HCL TECHNOLOGIES
PE (Price/Earnings) Ratio

The Current P/E Ratio of HCL TECHNOLOGIES is 28.51.

Share Price ₹1,730.4Jan 28,2026
Market Cap ₹469,578.6 Cr
Earnings-TTM₹16,471.0 CrTTM-Consolidated Results
Price/Earnings28.51xCalculated as Market Cap/Earnings
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Definition & Calculation of PE (Price/Earnings) ratio of HCL TECHNOLOGIES

Price-to-Earnings ratio, P/E Multiple, or P/E Ratio is an important valuation multiple that is defined as:

P/E = Market Capitalization / Net Income

or, using per-share numbers:

P/E = Stock Price / Earnings Per Share (EPS)

Applying the above formula, P/E ratio of HCL TECHNOLOGIES is calculated as :

Current Market Cap [ ₹469,578.6 Cr] as on Jan 28,2026

(/) Earnings [ ₹16,471.0 Cr] based on TTM-Consolidated Results

(=) P/E Ratio [ 28.51x ]

P/E Ratio indicates the multiple of earnings investors are willing to pay to own one share of the company.

Thus, for HCL TECHNOLOGIES , the investors are currently willing to pay 28.51 times earnings to own 1 share of the company.

PE Multiples are the most widely used valuation multiple in practice.

Since P/E ratio uses Net Income in the calculation, P/E multiples are not always reliable for valuing companies with negative earnings.

In such cases, you may consider using Price to Book ratio or Price to Sales ratio of HCL TECHNOLOGIES !

P/E ratios, also, would not adjust for differences in the capital structure between companies.

The chart below summarizes the trend in P/E Ratio of HCL TECHNOLOGIES over the last five years.

Historical PE (Price/Earnings) ratio chart of HCL TECHNOLOGIES


PE Ratio Performance Analysis for HCL TECHNOLOGIES

- HCL TECHNOLOGIES 's latest p/e ratio is 28.51x.

- HCL TECHNOLOGIES 's p/e ratio for fiscal years ending Mar2025 to Mar2021 averaged 23.75x.

- HCL TECHNOLOGIES 's operated at median p/e ratio of 23.96x from fiscal years ending March 2018 to 2022.

- Looking back at the last 5 fiscal years, HCL TECHNOLOGIES 's p/e ratio peaked in Mar2024 at 26.68x.

- HCL TECHNOLOGIES 's p/e ratio hit its five-year low in Mar2023 of 19.86x.


How does HCL TECHNOLOGIES 's P/E Ratio benchmark against top 10 peers in IT - Software Industry?

Peer Comparison (IT - Software Industry)Earnings-TTM (Cr)PE RatioMarket Cap
HCL TECHNOLOGIES 16,471.0028.51469,578.6
TATA CONSULTANCY SERVICES LTD47,963.0024.141,157,730.0
INFOSYS LTD28,003.0024.13675,670.0
WIPRO LTD13,279.9018.75248,966.0
TECH MAHINDRA LTD4,593.6037.59172,675.0
LTIMINDTREE LTD4,724.0037.75178,310.0
PERSISTENT SYSTEMS LTD1,731.6256.5997,988.0
ORACLE FINANCIAL SERVICES SOFTWARE LTD2,441.5028.5469,669.9
COFORGE LTD1,314.2043.2956,888.3
L&T TECHNOLOGY SERVICES LTD1,258.6032.4840,877.4
MPHASIS LTD1,802.9329.9553,998.2

IT - Software Industry Benchmark (Top 10) PE Analysis vs HCL TECHNOLOGIES 's P/E Ratio

Top 10 Industry PeersPE Ratio
Min industry PE 18.75x
Max industry PE 56.59x
Median industry PE 29.95x
Average industry PE 32.88x



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