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HCL TECHNOLOGIES
PE (Price/Earnings) Ratio

The Current P/E Ratio of HCL TECHNOLOGIES is 27.86.

Share Price ₹1,690.8Jan 20,2026
Market Cap ₹458,818.8 Cr
Earnings-TTM₹16,471.0 CrTTM-Consolidated Results
Price/Earnings27.86xCalculated 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 [ ₹458,818.8 Cr] as on Jan 20,2026

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

(=) P/E Ratio [ 27.86x ]

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 27.86 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 27.86x.

- 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 16,471.0027.86458,818.8
TATA CONSULTANCY SERVICES LTD47,963.0023.451,124,520.0
INFOSYS LTD28,003.0024.00672,142.0
WIPRO LTD13,279.9018.95251,640.0
TECH MAHINDRA LTD4,593.6035.80164,430.0
LTIMINDTREE LTD4,724.0037.52177,237.0
PERSISTENT SYSTEMS LTD1,731.6257.79100,064.0
ORACLE FINANCIAL SERVICES SOFTWARE LTD2,373.2028.6968,089.9
COFORGE LTD1,273.4044.6156,812.7
L&T TECHNOLOGY SERVICES LTD1,258.6032.2540,586.4
MPHASIS LTD1,787.0430.0253,639.9

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

Top 10 Industry PeersPE Ratio
Min industry PE 18.95x
Max industry PE 57.79x
Median industry PE 30.02x
Average industry PE 32.81x



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