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Indian (NIFTY) Application Software Industry Analysis

UpdatedFeb 18, 2026
DataAggregated Company Financials
Companies61
  • 7D-5.9%
  • 3M-19.0%
  • 1Y-12.2%
  • YTDn/a

Over the last 7 days, the Application Software industry has dropped 6.8%, driven by Oracle Financial Services Software declining 6.6%. Meanwhile, Unicommerce eSolutions actually outperformed within the industry, gaining 15% in the last week. The industry has fallen 15% in the last year. Looking forward, earnings are forecast to grow by 18% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 18 Feb 2026₹1.6t₹360.3b₹54.0b28.2x29x4.3x
Fri, 16 Jan 2026₹1.6t₹315.8b₹50.4b32.1x30.8x4.9x
Sun, 14 Dec 2025₹1.7t₹317.0b₹50.5b35.4x32.9x5.2x
Tue, 11 Nov 2025₹1.6t₹304.3b₹48.0b37.9x34.3x5.4x
Thu, 09 Oct 2025₹1.7t₹296.7b₹45.6b36.4x37.8x5.8x
Sat, 06 Sep 2025₹1.6t₹296.7b₹45.5b34.6x36x5.5x
Mon, 04 Aug 2025₹1.6t₹290.9b₹44.3b37.7x36.2x5.5x
Wed, 02 Jul 2025₹1.7t₹297.6b₹46.0b32.8x37.1x5.7x
Fri, 30 May 2025₹1.7t₹297.3b₹46.6b28x35.5x5.6x
Sun, 27 Apr 2025₹1.5t₹291.2b₹41.1b28.7x37.4x5.3x
Tue, 25 Mar 2025₹1.5t₹289.0b₹40.5b24.8x37x5.2x
Thu, 20 Feb 2025₹1.5t₹289.0b₹40.4b26x38.3x5.4x
Sat, 18 Jan 2025₹1.9t₹284.0b₹42.3b33.4x44x6.5x
Mon, 16 Dec 2024₹2.1t₹286.0b₹44.4b33.9x47.1x7.3x
Wed, 13 Nov 2024₹1.9t₹282.5b₹49.3b30.1x39.4x6.9x
Fri, 11 Oct 2024₹2.0t₹277.7b₹47.3b32.9x41.5x7.1x
Sun, 08 Sep 2024₹1.9t₹277.2b₹47.4b33.5x40.8x7x
Tue, 06 Aug 2024₹1.8t₹275.6b₹47.4b31.9x37.7x6.5x
Thu, 04 Jul 2024₹1.9t₹267.5b₹46.5b36.8x40.5x7x
Sat, 01 Jun 2024₹1.5t₹270.5b₹46.3b28x32x5.5x
Mon, 29 Apr 2024₹1.5t₹272.0b₹46.4b30.6x33.2x5.7x
Wed, 27 Mar 2024₹1.6t₹268.5b₹45.4b34.4x35.2x6x
Fri, 23 Feb 2024₹1.6t₹268.5b₹45.4b33.4x34.3x5.8x
Sun, 21 Jan 2024₹1.5t₹263.3b₹43.5b32.1x34.4x5.7x
Tue, 19 Dec 2023₹1.2t₹254.7b₹39.5b33.5x31.3x4.8x
Thu, 16 Nov 2023₹1.1t₹254.5b₹39.4b30.4x28.7x4.4x
Sat, 14 Oct 2023₹1.1t₹245.4b₹37.0b34.1x30.2x4.6x
Mon, 11 Sep 2023₹1.1t₹240.0b₹36.7b34.5x30.2x4.6x
Wed, 09 Aug 2023₹1.0t₹239.4b₹36.4b32.1x28.3x4.3x
Fri, 07 Jul 2023₹964.1b₹230.1b₹34.4b30.8x28x4.2x
Sun, 04 Jun 2023₹868.8b₹228.3b₹33.8b30.3x25.7x3.8x
Tue, 02 May 2023₹797.0b₹223.1b₹33.5b29.3x23.8x3.6x
Thu, 30 Mar 2023₹719.5b₹218.4b₹33.2b24.2x21.7x3.3x
Sat, 25 Feb 2023₹766.5b₹218.4b₹33.2b26.2x23.1x3.5x
Price to Earnings Ratio

23.1x


Total Market Cap: ₹766.5bTotal 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 28.4x 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 4.3x.
Past Earnings Growth
  • The earnings for companies in the Application Software industry have grown 18% per year over the last three years.
  • Revenues for these companies have grown 18% 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-1.04%
Tech-6.81%
Software-7.20%
Application Software-5.91%
Systems Software-9.35%
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₹624.851.9%
+₹2.2b
48.4%PE29.8x
UNIECOM Unicommerce eSolutions₹116.6013.3%
+₹1.5b
-0.1%PE63.6x
540735 IRIS RegTech Solutions₹278.1010.6%
+₹548.1m
-24.0%PE3.9x
532341 IZMO₹863.053.4%
+₹419.0m
175.0%PE34.8x
INFOBEAN InfoBeans Technologies₹900.651.9%
+₹400.0m
163.6%PE28.8x

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