HCL TECHNOLOGIES
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The Current P/E Ratio of HCL TECHNOLOGIES is 28.51.
| Share Price | ₹1,730.4 | Jan 28,2026 |
| Market Cap | ₹469,578.6 Cr | |
| Earnings-TTM | ₹16,471.0 Cr | TTM-Consolidated Results |
| Price/Earnings | 28.51x | Calculated as Market Cap/Earnings |
|---|---|---|
| Explore Stock Analytics | ||
Definition & Calculation of PE (Price/Earnings) ratio of HCL TECHNOLOGIES
P/E =
Market Capitalization
/ Net Income
or, using per-share numbers:
P/E = Stock Price /
Earnings Per Share (EPS)
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 ]
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 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 Ratio | Market Cap |
|---|---|---|---|
| HCL TECHNOLOGIES | 16,471.00 | 28.51 | 469,578.6 |
| TATA CONSULTANCY SERVICES LTD | 47,963.00 | 24.14 | 1,157,730.0 |
| INFOSYS LTD | 28,003.00 | 24.13 | 675,670.0 |
| WIPRO LTD | 13,279.90 | 18.75 | 248,966.0 |
| TECH MAHINDRA LTD | 4,593.60 | 37.59 | 172,675.0 |
| LTIMINDTREE LTD | 4,724.00 | 37.75 | 178,310.0 |
| PERSISTENT SYSTEMS LTD | 1,731.62 | 56.59 | 97,988.0 |
| ORACLE FINANCIAL SERVICES SOFTWARE LTD | 2,441.50 | 28.54 | 69,669.9 |
| COFORGE LTD | 1,314.20 | 43.29 | 56,888.3 |
| L&T TECHNOLOGY SERVICES LTD | 1,258.60 | 32.48 | 40,877.4 |
| MPHASIS LTD | 1,802.93 | 29.95 | 53,998.2 |
IT - Software Industry Benchmark (Top 10) PE Analysis vs HCL TECHNOLOGIES 's P/E Ratio
| Top 10 Industry Peers | PE 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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