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Indian (NIFTY) Application Software Industry Analysis
UpdatedJan 11, 2026
DataAggregated Company Financials
Companies61
- 7D-4.1%
- 3M-13.4%
- 1Y-24.1%
- YTDn/a
Over the last 7 days, the Application Software industry has dropped 4.1%, driven by a pullback from Oracle Financial Services Software of 1.9%. On the other hand HyperSoft Technologies is actually up 26%. Overall the industry is down 24% in 12 months. 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?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sun, 11 Jan 2026 | ₹1.6t | ₹315.8b | ₹50.5b | 33.7x | 31.2x | 5x |
| Tue, 09 Dec 2025 | ₹1.6t | ₹317.0b | ₹50.5b | 34.7x | 32.4x | 5.2x |
| Thu, 06 Nov 2025 | ₹1.7t | ₹302.2b | ₹44.8b | 39x | 37.6x | 5.6x |
| Sat, 04 Oct 2025 | ₹1.7t | ₹296.6b | ₹45.5b | 33.6x | 37.7x | 5.8x |
| Mon, 01 Sep 2025 | ₹1.6t | ₹296.9b | ₹45.5b | 36.7x | 35.9x | 5.5x |
| Wed, 30 Jul 2025 | ₹1.7t | ₹290.7b | ₹44.2b | 38.6x | 37.5x | 5.7x |
| Fri, 27 Jun 2025 | ₹1.7t | ₹297.5b | ₹46.1b | 33x | 36.9x | 5.7x |
| Sun, 25 May 2025 | ₹1.6t | ₹298.7b | ₹42.7b | 29x | 38.3x | 5.5x |
| Tue, 22 Apr 2025 | ₹1.5t | ₹289.0b | ₹40.5b | 27.1x | 37.4x | 5.2x |
| Thu, 20 Mar 2025 | ₹1.4t | ₹289.0b | ₹40.5b | 23.8x | 35.8x | 5x |
| Sat, 15 Feb 2025 | ₹1.6t | ₹288.1b | ₹40.2b | 26.1x | 40.2x | 5.6x |
| Mon, 13 Jan 2025 | ₹2.0t | ₹285.1b | ₹44.3b | 32.1x | 44.9x | 7x |
| Wed, 11 Dec 2024 | ₹2.1t | ₹285.6b | ₹47.0b | 34.7x | 44.3x | 7.3x |
| Fri, 08 Nov 2024 | ₹1.9t | ₹281.8b | ₹49.1b | 30.1x | 39.4x | 6.9x |
| Sun, 06 Oct 2024 | ₹1.9t | ₹277.7b | ₹47.3b | 31.3x | 40.3x | 6.9x |
| Tue, 03 Sep 2024 | ₹1.9t | ₹277.2b | ₹47.4b | 33.6x | 41x | 7x |
| Thu, 01 Aug 2024 | ₹1.9t | ₹275.7b | ₹47.9b | 34.6x | 40.7x | 7.1x |
| Sat, 29 Jun 2024 | ₹1.8t | ₹267.5b | ₹46.5b | 34.2x | 38.9x | 6.8x |
| Mon, 27 May 2024 | ₹1.5t | ₹270.9b | ₹46.3b | 28.6x | 32.6x | 5.6x |
| Wed, 24 Apr 2024 | ₹1.5t | ₹268.6b | ₹45.5b | 29.9x | 33.3x | 5.6x |
| Fri, 22 Mar 2024 | ₹1.6t | ₹268.5b | ₹45.4b | 34.1x | 34.4x | 5.8x |
| Sun, 18 Feb 2024 | ₹1.6t | ₹268.5b | ₹45.4b | 32.6x | 34.6x | 5.9x |
| Tue, 16 Jan 2024 | ₹1.3t | ₹254.7b | ₹39.7b | 32.2x | 33.6x | 5.2x |
| Thu, 14 Dec 2023 | ₹1.2t | ₹254.7b | ₹39.5b | 32.8x | 30.1x | 4.7x |
| Sat, 11 Nov 2023 | ₹1.1t | ₹253.4b | ₹38.5b | 35.5x | 29x | 4.4x |
| Mon, 09 Oct 2023 | ₹1.1t | ₹245.3b | ₹36.9b | 33.5x | 30.3x | 4.6x |
| Wed, 06 Sep 2023 | ₹1.1t | ₹240.0b | ₹36.7b | 34.1x | 29.8x | 4.6x |
| Fri, 04 Aug 2023 | ₹1.0t | ₹237.3b | ₹35.7b | 31.5x | 28.1x | 4.2x |
| Sun, 02 Jul 2023 | ₹952.7b | ₹231.1b | ₹34.4b | 30.9x | 27.7x | 4.1x |
| Tue, 30 May 2023 | ₹843.5b | ₹227.8b | ₹33.3b | 28.6x | 25.3x | 3.7x |
| Thu, 27 Apr 2023 | ₹775.1b | ₹219.5b | ₹33.4b | 28.7x | 23.2x | 3.5x |
| Sat, 25 Mar 2023 | ₹723.4b | ₹218.4b | ₹33.2b | 24.9x | 21.8x | 3.3x |
| Mon, 20 Feb 2023 | ₹776.4b | ₹218.4b | ₹33.2b | 26.2x | 23.4x | 3.6x |
| Wed, 18 Jan 2023 | ₹804.7b | ₹213.5b | ₹32.5b | 30.4x | 24.7x | 3.8x |
Price to Earnings Ratio
24.7x
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 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 Market | -2.80% | |
| Tech | -1.59% | |
| Software | -2.24% | |
| Application Software | -4.13% | |
| Systems Software | 0.88% | |
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 | |
|---|---|---|---|---|---|
| 539724 HyperSoft Technologies | ₹81.65 | 26.1% +₹278.4m | 365.0% | PE38.6x | |
| 544483 Icodex Publishing Solutions | ₹51.15 | 8.5% +₹62.4m | n/a | PE7.9x | |
| 543578 Olatech Solutions | ₹234.00 | 4.0% +₹40.1m | n/a | PE30.8x | |
| 538743 Mudunuru | ₹19.84 | 6.0% +₹36.6m | 133.4% | PS10.9x | |
| 540416 Octaware Technologies | ₹82.49 | 6.1% +₹17.0m | n/a | PS2x |
