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HCL TECHNOLOGIES
PE (Price/Earnings) Ratio

The Current P/E Ratio of HCL TECHNOLOGIES is 23.42.

Share Price ₹1,466.0Sep 15,2025
Market Cap ₹397,828.4 Cr
Earnings-TTM₹16,984.0 CrTTM-Consolidated Results
Price/Earnings23.42xCalculated 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 [ ₹397,828.4 Cr] as on Sep 15,2025

(/) Earnings [ ₹16,984.0 Cr] based on TTM-Consolidated Results

(=) P/E Ratio [ 23.42x ]

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 23.42 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 23.42x.

- 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 16,984.0023.42397,828.4
TATA CONSULTANCY SERVICES LTD49,511.0022.741,125,770.0
INFOSYS LTD27,300.0022.95626,503.0
WIPRO LTD13,483.0019.53263,347.0
TECH MAHINDRA LTD4,510.5033.00148,864.0
LTIMINDTREE LTD4,721.5033.52158,273.0
PERSISTENT SYSTEMS LTD1,518.6854.6282,953.7
ORACLE FINANCIAL SERVICES SOFTWARE LTD2,404.8032.4377,979.2
COFORGE LTD1,081.6054.2258,645.9
L&T TECHNOLOGY SERVICES LTD1,265.8035.0944,419.5
MPHASIS LTD1,739.3332.1555,924.4

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

Top 10 Industry PeersPE Ratio
Min industry PE 19.53x
Max industry PE 54.62x
Median industry PE 32.43x
Average industry PE 33.06x



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