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Indian (NIFTY) Application Software Industry Analysis

UpdatedFeb 13, 2026
DataAggregated Company Financials
Companies60
  • 7D-3.8%
  • 3M-17.6%
  • 1Y-15.9%
  • YTDn/a

Over the last 7 days, the Application Software industry has dropped 2.0%, driven by a pullback from Oracle Financial Services Software of 3.9%. The industry has fallen 14% in the last year. As for the next few years, earnings are expected to grow by 16% per annum.

Industry Valuation and Performance

Has the Indian Application Software Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 13 Feb 2026₹1.4t₹324.3b₹51.8b31.3x27.6x4.4x
Sun, 11 Jan 2026₹1.6t₹315.8b₹50.5b33.7x31.2x5x
Tue, 09 Dec 2025₹1.6t₹317.0b₹50.5b34.7x32.4x5.2x
Thu, 06 Nov 2025₹1.7t₹302.2b₹44.8b39x37.6x5.6x
Sat, 04 Oct 2025₹1.7t₹296.6b₹45.5b33.6x37.7x5.8x
Mon, 01 Sep 2025₹1.6t₹296.9b₹45.5b36.7x35.9x5.5x
Wed, 30 Jul 2025₹1.7t₹290.7b₹44.2b38.6x37.5x5.7x
Fri, 27 Jun 2025₹1.7t₹297.5b₹46.1b33x36.9x5.7x
Sun, 25 May 2025₹1.6t₹298.7b₹42.7b29x38.3x5.5x
Tue, 22 Apr 2025₹1.5t₹289.0b₹40.5b27.1x37.4x5.2x
Thu, 20 Mar 2025₹1.4t₹289.0b₹40.5b23.8x35.8x5x
Sat, 15 Feb 2025₹1.6t₹288.1b₹40.2b26.1x40.2x5.6x
Mon, 13 Jan 2025₹2.0t₹285.1b₹44.3b32.1x44.9x7x
Wed, 11 Dec 2024₹2.1t₹285.6b₹47.0b34.7x44.3x7.3x
Fri, 08 Nov 2024₹1.9t₹281.8b₹49.1b30.1x39.4x6.9x
Sun, 06 Oct 2024₹1.9t₹277.7b₹47.3b31.3x40.3x6.9x
Tue, 03 Sep 2024₹1.9t₹277.2b₹47.4b33.6x41x7x
Thu, 01 Aug 2024₹1.9t₹275.7b₹47.9b34.6x40.7x7.1x
Sat, 29 Jun 2024₹1.8t₹267.5b₹46.5b34.2x38.9x6.8x
Mon, 27 May 2024₹1.5t₹270.9b₹46.3b28.6x32.6x5.6x
Wed, 24 Apr 2024₹1.5t₹268.6b₹45.5b29.9x33.3x5.6x
Fri, 22 Mar 2024₹1.6t₹268.5b₹45.4b34.1x34.4x5.8x
Sun, 18 Feb 2024₹1.6t₹268.5b₹45.4b32.6x34.6x5.9x
Tue, 16 Jan 2024₹1.3t₹254.7b₹39.7b32.2x33.6x5.2x
Thu, 14 Dec 2023₹1.2t₹254.7b₹39.5b32.8x30.1x4.7x
Sat, 11 Nov 2023₹1.1t₹253.4b₹38.5b35.5x29x4.4x
Mon, 09 Oct 2023₹1.1t₹245.3b₹36.9b33.5x30.3x4.6x
Wed, 06 Sep 2023₹1.1t₹240.0b₹36.7b34.1x29.8x4.6x
Fri, 04 Aug 2023₹1.0t₹237.3b₹35.7b31.5x28.1x4.2x
Sun, 02 Jul 2023₹952.7b₹231.1b₹34.4b30.9x27.7x4.1x
Tue, 30 May 2023₹843.5b₹227.8b₹33.3b28.6x25.3x3.7x
Thu, 27 Apr 2023₹775.1b₹219.5b₹33.4b28.7x23.2x3.5x
Sat, 25 Mar 2023₹723.4b₹218.4b₹33.2b24.9x21.8x3.3x
Mon, 20 Feb 2023₹776.4b₹218.4b₹33.2b26.2x23.4x3.6x
Price to Earnings Ratio

23.4x


Total Market Cap: ₹776.4bTotal Earnings: ₹33.2bTotal Revenue: ₹218.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Application Software Industry Price to Earnings3Y Average 34.2x202420252026
Current Industry PE
  • Investors are pessimistic on the Indian Application Software industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 28.6x which is lower than its 3-year average PE of 34.2x.
  • The 3-year average PS ratio of 5.4x is higher than the industry's current PS ratio of 4.6x.
Past Earnings Growth
  • The earnings for companies in the Application Software industry have grown 16% 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 Market1.26%
Tech-6.48%
Software-4.94%
Application Software-3.82%
Systems Software-6.80%
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?

CompanyLast Price7D1YValuation
BLACKBUCK BlackBuck₹636.004.9%
+₹5.4b		35.3%PE30.3x
AURIONPRO Aurionpro Solutions₹966.806.5%
+₹3.2b		-30.9%PE26.2x
EXCELSOFT Excelsoft Technologies₹93.0530.4%
+₹2.5b		n/aPE22.7x
ZAGGLE Zaggle Prepaid Ocean Services₹304.205.9%
+₹2.3b		-16.7%PE36.5x
526881 63 moons technologies₹687.757.0%
+₹2.1b		1.5%PS31.9x

Latest News

ROUTE
₹568.05
Route Mobile
7D
-2.1%
1Y
-48.3%
UNIECOM
₹99.62
Unicommerce eSolutions
7D
-3.2%
1Y
-20.9%
526881
₹687.75
63 moons technologies
7D
7.0%
1Y
1.5%
AURIONPRO
₹966.80
Aurionpro Solutions
7D
6.5%
1Y
-30.9%
531209
₹860.10
Nucleus Software Exports
7D
-6.0%
1Y
6.1%
532408
₹194.00
Sigma Advanced Systems
7D
3.9%
1Y
190.8%
MAPMYINDIA
₹1,285.40
C. E. Info Systems
7D
1.7%
1Y
-22.4%

MAPMYINDIA: Future Mobility Partnerships Will Support A Bullish Long Term Thesis

Analysts have reduced their fair value estimate for C. E.
EXCELSOFT
₹93.05
Excelsoft Technologies
7D
30.4%
1Y
n/a
CAPILLARY
₹562.15
Capillary Technologies India
7D
-8.1%
1Y
n/a
BLACKBUCK
₹636.00
BlackBuck
7D
4.9%
1Y
35.3%
RATEGAIN
₹571.10
RateGain Travel Technologies
7D
-5.7%
1Y
-10.0%
INTELLECT
₹711.20
Intellect Design Arena
7D
-8.1%
1Y
-3.1%
ZAGGLE
₹304.20
Zaggle Prepaid Ocean Services
7D
5.9%
1Y
-16.7%
TANLA
₹480.60
Tanla Platforms
7D
-2.1%
1Y
-9.5%

TANLA: January Board Review Will Confirm Upbeat View On Risk Profile

Analysts have nudged their fair value estimate for Tanla Platforms slightly higher to ₹733 from ₹729.67, citing updated assumptions around revenue growth, profit margins and future P/E that adjust the risk profile and medium term return expectations. What's in the News Tanla Platforms has scheduled a board meeting for January 22, 2026, to consider and approve the unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025 (Key Developments).
INFOBEAN
₹895.55
InfoBeans Technologies
7D
6.6%
1Y
162.5%

InfoBeans Technologies (NSE:INFOBEAN) Seems To Use Debt Rather Sparingly

Feb 04
InfoBeans Technologies (NSE:INFOBEAN) Seems To Use Debt Rather Sparingly
532466
₹6,765.40
Oracle Financial Services Software
7D
-9.1%
1Y
-24.8%