HCL TECHNOLOGIES
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The Current P/E Ratio of HCL TECHNOLOGIES is 22.36.
| Share Price | ₹1,357.4 | Mar 18,2026 |
| Market Cap | ₹368,357.6 Cr | |
| Earnings-TTM | ₹16,471.0 Cr | TTM-Consolidated Results |
| Price/Earnings | 22.36x | 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 [ ₹368,357.6 Cr] as on Mar 18,2026
(/) Earnings [ ₹16,471.0 Cr] based on TTM-Consolidated Results
(=) P/E Ratio [ 22.36x ]
Thus, for HCL TECHNOLOGIES , the investors are currently willing to pay 22.36 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 | 22.36 | 368,357.6 |
| TATA CONSULTANCY SERVICES LTD | 47,963.00 | 18.41 | 883,229.0 |
| INFOSYS LTD | 28,003.00 | 18.36 | 514,001.0 |
| WIPRO LTD | 13,279.90 | 15.35 | 203,889.0 |
| TECH MAHINDRA LTD | 4,593.60 | 29.57 | 135,840.0 |
| LTIMINDTREE LTD | 4,724.00 | 27.00 | 127,568.0 |
| PERSISTENT SYSTEMS LTD | 1,731.62 | 42.81 | 74,138.6 |
| ORACLE FINANCIAL SERVICES SOFTWARE LTD | 2,441.50 | 23.51 | 57,394.4 |
| COFORGE LTD | 1,314.20 | 28.92 | 38,012.6 |
| L&T TECHNOLOGY SERVICES LTD | 1,258.60 | 28.30 | 35,619.1 |
| MPHASIS LTD | 1,802.93 | 22.48 | 40,522.3 |
IT - Software Industry Benchmark (Top 10) PE Analysis vs HCL TECHNOLOGIES 's P/E Ratio
| Top 10 Industry Peers | PE Ratio |
|---|---|
| Min industry PE | 15.35x |
| Max industry PE | 42.81x |
| Median industry PE | 23.51x |
| Average industry PE | 25.19x |
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