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HCL TECHNOLOGIES
PE (Price/Earnings) Ratio

The Current P/E Ratio of HCL TECHNOLOGIES is 23.45.

Share Price ₹1,467.4Sep 19,2025
Market Cap ₹398,208.3 Cr
Earnings-TTM₹16,984.0 CrTTM-Consolidated Results
Price/Earnings23.45xCalculated 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 [ ₹398,208.3 Cr] as on Sep 19,2025

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

(=) P/E Ratio [ 23.45x ]

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 23.45 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 23.45x.

- 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 16,984.0023.45398,208.3
TATA CONSULTANCY SERVICES LTD49,511.0023.161,146,880.0
INFOSYS LTD27,300.0023.44639,901.0
WIPRO LTD13,483.0019.91268,487.0
TECH MAHINDRA LTD4,510.5033.75152,224.0
LTIMINDTREE LTD4,721.5034.59163,336.0
PERSISTENT SYSTEMS LTD1,518.6856.0285,070.2
ORACLE FINANCIAL SERVICES SOFTWARE LTD2,404.8032.5878,340.8
COFORGE LTD1,081.6055.5360,065.0
L&T TECHNOLOGY SERVICES LTD1,265.8036.4046,076.8
MPHASIS LTD1,739.3332.7356,920.4

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

Top 10 Industry PeersPE Ratio
Min industry PE 19.91x
Max industry PE 56.02x
Median industry PE 32.73x
Average industry PE 33.78x



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