Indian Software Undervalued over 20% based on DCF

Cyient

Market Cap: ₹92.2b

Provides geospatial, engineering design, manufacturing, networks and operations, data transformation, and analytic services in North America, Europe, Middle East, and the Asia Pacific.

R Systems International

Market Cap: ₹27.8b

A digital product engineering company, designs and builds chip-to-cloud software products and platforms in Europe, the United States, and internationally.

Saksoft

Market Cap: ₹21.4b

An information technology company, provides digital transformation solutions in Europe, the United States, the Asia Pacific, and internationally.

OnMobile Global

Market Cap: ₹7.4b

Provides telecom value added services in India, Europe, Africa, Latin America, the United States, and internationally.

Allied Digital Services

Market Cap: ₹6.6b

Designs, develops, deploys, and delivers end-to-end IT infrastructure services and digital solutions in India, rest of Asia, the United States, Australia, Europe, and the Middle East.

Sigma Solve

Market Cap: ₹3.9b

Together with its subsidiary, Sigma Solve INC, engages in the enterprise software development business worldwide.

FCS Software Solutions

Market Cap: ₹2.5b

Provides software development and marketing, and support services to corporate business entities in the BPO, software development, e-learning, and other related information technology (IT) enabled services in India and the United States.

Naapbooks

Market Cap: ₹1.5b

Develops and provides information technology solutions to corporates in India.

Cressanda Railway Solutions

Market Cap: ₹960.5m

Provides railway auxiliary services in India.

S A Tech Software India

Market Cap: ₹445.3m

Operates as an IT consulting company in India.

B2B Software Technologies

Market Cap: ₹415.8m

Operates as a business solution implementation company in India.

Niks Technology

Market Cap: ₹138.6m

An IT solution services, provides software development and education services.