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Coforge Ltd.

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coforge.comBSE: 532541NSE: COFORGE
Market Cap₹ 81,814 Cr.
Current Price
High / Low₹ 2,021 / 1,008
Stock P/E69.6
Book Value₹ 574
Price to Book4.57
Dividend Yield0.86 %
ROCE17.7 %
ROE17.9 %
Face Value₹ 2

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ABOUT

AI Sector View

AI GENERATED

Information Technology

Buy

IT is supported by a still-expanding services backdrop and a weaker rupee. Export of services grew 13.0% YoY (2026-06), services PMI was 54.1 (Aug/26), and the currency at 95.23 (Sep/26) is depreciated versus the previous 95.16, which helps INR translation of export revenues. FPI positioning is only neutral-to-soft with net 3-month flow of INR -5 crore to 2026-08-31, so the positive stance is primarily macro-driven.

Confidence
68%
View full sector analysis →

PROS

  • Company has delivered good profit growth of 42.2% CAGR over last 5 years
  • Company is almost debt free
  • Company has a healthy return on capital (ROCE) of 22.1%
  • Company has a good return on equity (ROE) track record: 3 Years ROE 21.2%
  • Company has delivered good sales growth of 31.7% CAGR over last 5 years
  • Latest quarter profit grew 35.8% YoY, showing strong momentum

CONS

  • A large part of profit comes from other income (66.3% of PBT)
  • Receivables are growing faster than sales - a possible quality concern
  • Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.48x)
  • Valuation is stretched - P/E of 69.6 is well above its own 5-year median (17.9)
  • Operating margins have contracted to 10.5% from 24.6%

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Information TechnologyITIT - Software
Part ofNIFTY ITNIFTYLARGEMIDCAP250NIFTYMIDCAP150NIFTY MIDCAP 100NIFTY MIDCAP 150
S.No.Name
1.TCS2209.0016.05799235.534.9813420.004.6972275.0013.9366.2525.67
2.INFY1035.0013.87420027.064.647775.0012.2948211.0014.0342.8423.66
3.HCLTECH1226.5519.10332844.594.404626.0020.3434579.0013.9431.2019.87
4.WIPRO167.5012.55165902.386.573356.300.5924478.6010.5918.4918.93
5.TECHM1502.2528.67147240.593.391486.3031.6715711.9017.6823.0417.43
6.LTM4403.1024.97130605.331.701468.6017.0611608.0017.9630.2517.75
7.OFSS11623.0029.66101216.723.441415.50120.523125.2068.7345.5060.04
8.PERSISTENT5390.0044.2185027.250.74483.0413.674303.2329.0935.0916.19
9.COFORGE1846.9046.5781813.620.86531.7049.195527.7049.8624.7019.14
10.MPHASIS2311.6523.1044125.992.68489.5110.824384.0517.4623.3118.15
11.LTTS3360.5527.0135647.891.73357.1012.972940.1011.4727.7018.65
12.TATATECH787.8557.4331990.791.49180.756.151664.6333.7819.5616.64
Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
1,1401,2191,2651,2251,2101,3261,4331,8701,7721,9812,0742,6583,080
1,0721,1091,0921,0661,1361,2181,3461,6721,6741,7971,8982,3972,875
Operating Profit68110173159741088719898184176261205
OPM %5.99%9.03%13.65%12.95%6.11%8.11%6.05%10.57%5.51%9.29%8.47%9.82%6.66%
1973630821890199109791482663431166
Interest1418192217513191714172063
Depreciation30313234313841704749508382
Profit before Tax22197429321115263143187182386112589278
Tax %4.65%21.09%4.47%8.41%29.39%12.67%25.89%22.95%17.29%13.96%23.59%6.24%26.48%
Net Profit211774102948123010614415133285553205
34.5412.5466.5547.602.556.883.174.164.509.922.5315.854.87

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
1,5951,6461,9992,2312,4123,3134,2304,8496,3709,5729,793
1,3161,3961,7001,9302,1332,8873,7764,3395,7648,5648,967
Operating Profit2802503003012804274545106061,009826
OPM %17.53%15.18%14.99%13.48%11.60%12.88%10.74%10.51%9.52%10.54%8.43%
12116154285106400536760454774865
Interest475865259725570114
Depreciation918278909684109128238311264
Profit before Tax1972763704872836928221,0697671,4021,365
Tax %16.21%18.07%19.28%13.30%15.35%6.80%10.94%7.20%20.86%0.67%13.97%
Net Profit1652262994222406447329926071,3931,175
EPS26.8436.6047.9967.5338.59103.75117.75160.4990.7241.46—
Dividend Payout %46.54%40.78%0.00%45.86%32.84%49.14%53.38%47.36%83.78%38.11%—

COMPOUNDED SALES GROWTH

10 Years:
20%
5 Years:
32%
3 Years:
31%

COMPOUNDED PROFIT GROWTH

10 Years:
22%
5 Years:
42%
3 Years:
24%

STOCK PRICE CAGR

10 Years:
37%
5 Years:
12%
3 Years:
18%
1 Year:
4%

RETURN ON EQUITY

10 Years:
21%
5 Years:
26%
3 Years:
21%
Last Year:
18%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Corporate actions

2026

Aug 3

₹ 2

Rs.4.0000 per share(200%)Interim Dividend

2026

Jan 30

₹ 2

Rs.4.0000 per share(200%)Interim Dividend

2025

Oct 31

₹ 2

Rs.4.0000 per share(200%)Interim Dividend

2025

Jul 31

₹ 2

Rs.4.0000 per share(200%)Interim Dividend

2025

May 9

₹ 1.90

Rs.19.0000 per share(190%)Interim Dividend

2025

Jan 30

₹ 1.90

Rs.19.0000 per share(190%)Interim Dividend

2024

Oct 11

₹ 1.90

Rs.19.0000 (190%) Second Interim Dividend

2024

Aug 2

₹ 1.90

Rs.19.0000 per share(190%)Interim Dividend

2024

May 15

₹ 1.90

Rs.19.0000 per share(190%)Interim Dividend

2024

Feb 5

₹ 1.90

Rs.19.0000 per share(190%)Interim Dividend

2023

Nov 2

₹ 1.90

Rs.19.0000 per share(190%)Interim Dividend

2023

Aug 3

₹ 1.90

Rs.19.0000 per share(190%)Interim Dividend

2023

May 10

₹ 1.90

Rs.19.0000 per share(190%)Interim Dividend

2023

Feb 3

₹ 1.90

Rs.19.0000 per share (190%) Third Interim Dividend

2022

Nov 3

₹ 1.30

Rs.13.0000 per share (130%) Second Interim Dividend

2022

Aug 3

₹ 1.30

Rs.13.0000 per share(130%)First Interim Dividend

2022

May 23

₹ 1.30

Rs.13.0000 per share(130%)Interim Dividend

2022

Feb 7

₹ 1.30

Rs.13.0000 per share (130%) Third Interim

2021

Nov 3

₹ 1.30

Rs.13.0000 per share (130%) Second Interim Dividend

2021

Aug 9

₹ 1.30

First Interim Dividend of Rs.13/- (130%)

2021

May 18

₹ 1.30

Rs.13.0000 per share(130%)Interim Dividend

2018

Sep 12

₹ 1.50

Rs.15.0000 per share(150%)Final Dividend

2017

Sep 14

₹ 1.25

2016

Jul 22

₹ 1

Rs.10.0000 per share(100%)Dividend

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital61626262616161626767
1,2671,3931,6241,9041,6922,0882,4663,2087,3118,128
2825143240363413440724398
Trade Payables5480851381963833344224981,800
4735205796547508211,0709371,7752,182
Total Liabilities1,8832,0802,3642,7922,7383,7164,3445,06910,37612,575
4944644264123833944364483,9153,831
Capital Work in Progress01100922021
5847448668378551,8341,8342,1682,5802,435
00000009691,4472,462
Cash & Bank59681394434026214045255514
7458039311,0991,0981,4171,9341,4182,1763,333
Total Assets1,8832,0802,3642,7922,7383,7164,3445,06910,37612,575

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
319262234299560518227295354791
Cash from Investing-222-119-46206-4-731414490-1,884471
Cash from Financing-65-75-103-133-4942-413-8791,705-949
-47946301-13-34077-94175313

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026

Shareholding Pattern

Numbers in percentages

Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters0.000.000.000.000.000.000.000.000.00
41.4342.0942.5540.2137.4234.0934.5330.6624.31
47.2948.1647.8649.9352.3254.8753.6756.1842.27
Government0.000.000.000.000.000.000.000.000.00
11.279.759.599.8610.2611.0411.8013.1633.41

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-10
General Updates

2026-09-10 - Coforge Limited has informed the Exchange about General Updates

2026-09-09
Resignation of Director/KMP/SMP

2026-09-09 - Coforge Limited has informed the Exchange about Resignation of Director/KMP/SMP

2026-09-09
Resignation of Director/KMP/SMP

2026-09-09 - Coforge Limited has informed the Exchange about Resignation of Director/KMP/SMP

2026-09-09
General Updates

2026-09-09 - Coforge Limited has informed the Exchange about General Updates

2026-09-09
Trading Window

2026-09-09 - Coforge Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015

2026-09-09
Change in Director(s)

2026-09-09 - Coforge Limited has informed the Exchange regarding Change in Director(s) of the company.

2026-09-09
General Updates

2026-09-09 - Coforge Limited has informed the Exchange about General Updates

2026-09-03
General Updates

2026-09-03 - Coforge Limited has informed the Exchange about Webinar on Operationalizing Enterprise Autonomy Coforge Vantage Series

2026-09-03
Updates

2026-09-03 - Coforge Limited has informed the Exchange regarding 'Sustainability Report for FY 2025-26 '.

News

Recent coverage and analyst commentary for COFORGE

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