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HCL TECHNOLOGIES
PE (Price/Earnings) Ratio

The Current P/E Ratio of HCL TECHNOLOGIES is 18.99.

Share Price ₹1,165.2May 27,2026
Market Cap ₹316,186.8 Cr
Earnings-TTM₹16,652.0 CrTTM-Consolidated Results
Price/Earnings18.99xCalculated 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 [ ₹316,186.8 Cr] as on May 27,2026

(/) Earnings [ ₹16,652.0 Cr] based on TTM-Consolidated Results

(=) P/E Ratio [ 18.99x ]

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 18.99 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 18.99x.

- 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 16,652.0018.99316,186.8
TATA CONSULTANCY SERVICES LTD49,454.0016.69825,286.0
INFOSYS LTD29,474.0015.95470,193.0
WIPRO LTD13,239.8015.99211,726.0
TECH MAHINDRA LTD4,807.0029.66142,554.0
LTM LTD4,982.7023.75118,324.0
ORACLE FINANCIAL SERVICES SOFTWARE LTD2,639.3033.9889,671.9
PERSISTENT SYSTEMS LTD1,865.1243.1180,410.7
COFORGE LTD1,674.5036.6661,394.1
MPHASIS LTD1,867.8122.8042,590.5
L&T TECHNOLOGY SERVICES LTD1,268.4029.1937,026.9

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

Top 10 Industry PeersPE Ratio
Min industry PE 15.95x
Max industry PE 43.11x
Median industry PE 23.75x
Average industry PE 26.07x



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