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Indian (NIFTY) Application Software Industry Analysis
UpdatedJan 21, 2026
DataAggregated Company Financials
Companies61
- 7D-3.2%
- 3M-13.0%
- 1Y-19.8%
- YTDn/a
Over the last 7 days, the Application Software industry has dropped 3.2%, driven by a pullback from BlackBuck of 13%. Overall the industry is down 20% in 12 months. Looking forward, earnings are forecast to grow by 16% annually.
Industry Valuation and Performance
Has the Indian Application Software Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Wed, 21 Jan 2026 | ₹1.6t | ₹329.8b | ₹50.6b | 31.4x | 31.7x | 4.9x |
| Fri, 19 Dec 2025 | ₹1.6t | ₹315.8b | ₹50.5b | 35.4x | 32x | 5.1x |
| Sun, 16 Nov 2025 | ₹1.7t | ₹305.4b | ₹49.6b | 38.6x | 33.3x | 5.4x |
| Tue, 14 Oct 2025 | ₹1.7t | ₹296.7b | ₹45.6b | 37.2x | 38.3x | 5.9x |
| Thu, 11 Sep 2025 | ₹1.8t | ₹296.7b | ₹45.5b | 34.9x | 38.5x | 5.9x |
| Sat, 09 Aug 2025 | ₹1.6t | ₹291.8b | ₹44.4b | 34.9x | 36.4x | 5.5x |
| Mon, 07 Jul 2025 | ₹1.7t | ₹287.9b | ₹44.1b | 33.1x | 38.9x | 6x |
| Wed, 04 Jun 2025 | ₹1.6t | ₹300.0b | ₹46.5b | 27.4x | 35.3x | 5.5x |
| Fri, 02 May 2025 | ₹1.5t | ₹290.8b | ₹41.0b | 28.4x | 37.6x | 5.3x |
| Sun, 30 Mar 2025 | ₹1.5t | ₹289.0b | ₹40.5b | 27.2x | 36.3x | 5.1x |
| Tue, 25 Feb 2025 | ₹1.5t | ₹289.0b | ₹40.4b | 26.3x | 37.8x | 5.3x |
| Thu, 23 Jan 2025 | ₹1.8t | ₹284.1b | ₹42.2b | 32.8x | 42.5x | 6.3x |
| Sat, 21 Dec 2024 | ₹2.1t | ₹285.0b | ₹44.3b | 35.9x | 46.9x | 7.3x |
| Mon, 18 Nov 2024 | ₹1.9t | ₹283.3b | ₹48.7b | 29.2x | 38.9x | 6.7x |
| Wed, 16 Oct 2024 | ₹2.0t | ₹277.7b | ₹47.3b | 33.4x | 42.3x | 7.2x |
| Fri, 13 Sep 2024 | ₹2.0t | ₹277.1b | ₹47.3b | 33.9x | 42.4x | 7.2x |
| Sun, 11 Aug 2024 | ₹1.9t | ₹276.0b | ₹47.7b | 34.7x | 39.3x | 6.8x |
| Tue, 09 Jul 2024 | ₹1.9t | ₹267.6b | ₹46.6b | 39.9x | 40.5x | 7x |
| Thu, 06 Jun 2024 | ₹1.5t | ₹266.9b | ₹46.4b | 27.5x | 32x | 5.6x |
| Sat, 04 May 2024 | ₹1.6t | ₹272.1b | ₹46.5b | 32.3x | 33.4x | 5.7x |
| Mon, 01 Apr 2024 | ₹1.6t | ₹268.5b | ₹45.4b | 35.5x | 35.2x | 6x |
| Wed, 28 Feb 2024 | ₹1.6t | ₹268.5b | ₹45.4b | 33.9x | 34.8x | 5.9x |
| Fri, 26 Jan 2024 | ₹1.5t | ₹264.6b | ₹43.8b | 31.1x | 33.2x | 5.5x |
| Sun, 24 Dec 2023 | ₹1.2t | ₹254.7b | ₹39.5b | 34.9x | 30.7x | 4.8x |
| Tue, 21 Nov 2023 | ₹1.1t | ₹254.7b | ₹39.5b | 31.1x | 29x | 4.5x |
| Thu, 19 Oct 2023 | ₹1.1t | ₹245.4b | ₹37.0b | 34.6x | 30.4x | 4.6x |
| Sat, 16 Sep 2023 | ₹1.1t | ₹240.1b | ₹36.7b | 32.5x | 29.6x | 4.5x |
| Mon, 14 Aug 2023 | ₹1.0t | ₹239.9b | ₹36.7b | 30.6x | 28.2x | 4.3x |
| Wed, 12 Jul 2023 | ₹954.2b | ₹230.1b | ₹34.4b | 30.4x | 27.7x | 4.1x |
| Fri, 09 Jun 2023 | ₹872.4b | ₹227.5b | ₹33.8b | 26.2x | 25.8x | 3.8x |
| Sun, 07 May 2023 | ₹809.5b | ₹223.3b | ₹33.4b | 29.1x | 24.2x | 3.6x |
| Tue, 04 Apr 2023 | ₹743.1b | ₹218.4b | ₹33.2b | 25x | 22.4x | 3.4x |
| Thu, 02 Mar 2023 | ₹762.5b | ₹218.4b | ₹33.2b | 26.2x | 23x | 3.5x |
| Sat, 28 Jan 2023 | ₹793.2b | ₹223.1b | ₹32.9b | 29x | 24.1x | 3.6x |
Price to Earnings Ratio
24.1x
Current Industry PE
- Investors are relatively neutral on the Indian Application Software industry at the moment, indicating that they anticipate long term growth rates to remain steady.
- The industry is trading close to its 3-year average PE ratio of 34.0x.
- The industry is trading close to its 3-year average PS ratio of 5.4x.
Past Earnings Growth
- The earnings for companies in the Application Software industry have grown 15% per year over the last three years.
- Revenues for these companies have grown 14% per year.
- This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.
Industry Comparison
How does Indian Application Software compare with similar industries?
| IN Market | -2.63% | |
| Tech | -2.32% | |
| Software | -4.73% | |
| Application Software | -3.24% | |
| Systems Software | -7.06% | |
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| 532466 Oracle Financial Services Software | ₹7.68k | 1.9% +₹12.7b | -19.9% | PE28.2x | |
| INFOBEAN InfoBeans Technologies | ₹841.10 | 3.1% +₹613.3m | 108.3% | PE32.1x | |
| DIGISPICE DiGiSPICE Technologies | ₹22.88 | 2.3% +₹119.6m | -16.2% | PS1.1x | |
| 540416 Octaware Technologies | ₹91.05 | 6.1% +₹18.8m | n/a | PS2.2x | |
| 531268 B2B Software Technologies | ₹25.99 | 5.8% +₹16.8m | -23.6% | PE12.3x |
