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Indian (NIFTY) Application Software Industry Analysis

UpdatedJan 18, 2026
DataAggregated Company Financials
Companies60
  • 7D0.5%
  • 3M-10.4%
  • 1Y-18.3%
  • YTDn/a

Last week, the Application Software industry hasn't moved much but Oracle Financial Services Software is up 4.9% in that time. Unfortunately though, the industry is down 18% over the past 12 months. As for the next few years, earnings are expected to grow by 15% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 18 Jan 2026₹1.6t₹315.8b₹50.4b32x31.3x5x
Tue, 16 Dec 2025₹1.7t₹317.0b₹50.5b34.7x32.9x5.2x
Thu, 13 Nov 2025₹1.7t₹305.9b₹48.2b38.5x34.9x5.5x
Sat, 11 Oct 2025₹1.7t₹296.7b₹45.6b35.9x38.2x5.9x
Mon, 08 Sep 2025₹1.6t₹296.7b₹45.5b34.6x36x5.5x
Wed, 06 Aug 2025₹1.6t₹291.0b₹44.3b35.7x37x5.6x
Fri, 04 Jul 2025₹1.7t₹287.9b₹44.1b33x38.7x5.9x
Sun, 01 Jun 2025₹1.7t₹298.0b₹46.5b29.5x35.5x5.5x
Tue, 29 Apr 2025₹1.6t₹290.4b₹41.1b29.3x37.9x5.4x
Thu, 27 Mar 2025₹1.5t₹289.0b₹40.5b24.4x36.7x5.1x
Sat, 22 Feb 2025₹1.5t₹289.0b₹40.4b27.3x38.1x5.3x
Mon, 20 Jan 2025₹1.9t₹284.0b₹42.3b33.4x44x6.5x
Wed, 18 Dec 2024₹2.1t₹286.0b₹44.4b33.5x47.5x7.4x
Fri, 15 Nov 2024₹1.9t₹282.7b₹48.6b29.5x39x6.7x
Sun, 13 Oct 2024₹2.0t₹277.7b₹47.3b32.5x41.7x7.1x
Tue, 10 Sep 2024₹1.9t₹277.1b₹47.3b32.3x40.9x7x
Thu, 08 Aug 2024₹1.8t₹275.8b₹47.5b33.3x38.2x6.6x
Sat, 06 Jul 2024₹1.9t₹267.5b₹46.5b40.1x40.9x7.1x
Mon, 03 Jun 2024₹1.5t₹270.5b₹46.3b28x32x5.5x
Wed, 01 May 2024₹1.5t₹271.9b₹46.5b31.1x33.3x5.7x
Fri, 29 Mar 2024₹1.6t₹268.5b₹45.4b35.5x35.1x5.9x
Sun, 25 Feb 2024₹1.6t₹268.5b₹45.4b33.4x34.5x5.8x
Tue, 23 Jan 2024₹1.5t₹263.3b₹43.5b32.1x34.2x5.7x
Thu, 21 Dec 2023₹1.2t₹254.7b₹39.5b32.4x29.9x4.6x
Sat, 18 Nov 2023₹1.1t₹254.6b₹39.4b32.1x29.2x4.5x
Mon, 16 Oct 2023₹1.1t₹245.4b₹37.0b34.1x30.2x4.6x
Wed, 13 Sep 2023₹1.1t₹240.0b₹36.7b31.3x29.2x4.5x
Fri, 11 Aug 2023₹1.0t₹239.9b₹36.6b32.4x28.5x4.3x
Sun, 09 Jul 2023₹949.6b₹230.1b₹34.4b30.2x27.6x4.1x
Tue, 06 Jun 2023₹873.5b₹228.6b₹33.8b27.6x25.8x3.8x
Thu, 04 May 2023₹805.7b₹223.3b₹33.4b29x24.1x3.6x
Sat, 01 Apr 2023₹729.4b₹218.4b₹33.2b23.5x22x3.3x
Mon, 27 Feb 2023₹766.5b₹218.4b₹33.2b26.2x23.1x3.5x
Wed, 25 Jan 2023₹809.2b₹219.9b₹32.4b30.4x24.9x3.7x
Price to Earnings Ratio

24.9x


Total Market Cap: ₹809.2bTotal Earnings: ₹32.4bTotal Revenue: ₹219.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Application Software Industry Price to Earnings3Y Average 34x202420252026
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 13% 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 Market0.022%
Tech1.60%
Software-0.045%
Application Software0.51%
Systems Software-0.91%
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
532466 Oracle Financial Services Software₹7.96k4.9%
+₹32.3b		-20.6%PE29.2x
RATEGAIN RateGain Travel Technologies₹667.351.8%
+₹1.4b		-4.3%PE37.6x
526881 63 moons technologies₹677.903.7%
+₹1.1b		-17.3%PS37x
ZAGGLE Zaggle Prepaid Ocean Services₹311.552.0%
+₹806.7m		-40.6%PE37.4x
AURUM Aurum PropTech₹191.924.6%
+₹649.6m		-19.4%PS5.1x

Latest News

BLACKBUCK
₹625.45
BlackBuck
7D
-3.7%
1Y
48.4%
532466
₹7,961.40
Oracle Financial Services Software
7D
4.9%
1Y
-20.6%
TANLA
₹462.75
Tanla Platforms
7D
-8.2%
1Y
-30.5%
526881
₹677.90
63 moons technologies
7D
3.7%
1Y
-17.3%
UNIECOM
₹112.11
Unicommerce eSolutions
7D
-4.5%
1Y
-29.1%

UNIECOM: New Client Wins And Fraud Controls Will Drive Future Returns

Analysts have kept their fair value estimate for Unicommerce eSolutions steady at ₹172.0, citing largely unchanged assumptions for discount rate, revenue growth, profit margin and future P/E as the basis for holding the line on their price target. What's in the News Moxie Beauty has adopted Unicommerce's Uniware platform to manage multi channel orders, warehouse operations and inventory, along with UniCapture video management to create visual proof for shipments and returns, and has also integrated Unicommerce's B2B suite for bulk shipments (Client announcement).
MAPMYINDIA
₹1,473.70
C. E. Info Systems
7D
-7.9%
1Y
-10.8%

MAPMYINDIA: Domestic Tracking Contract Will Support Bullish Long-Term Thesis

Analysts have trimmed their price target for C. E.
ZAGGLE
₹311.55
Zaggle Prepaid Ocean Services
7D
2.0%
1Y
-40.6%
ROUTE
₹641.50
Route Mobile
7D
-4.2%
1Y
-50.7%

ROUTE: Middle East Telecom Alliance Will Support Earnings Upside Next Year

Analysts have maintained their fair value estimate for Route Mobile at ₹870.0, noting only minor adjustments to inputs such as the discount rate, expected revenue growth, profit margin and future P/E that do not materially change their overall price target view. What's in the News Board meeting scheduled for Dec 15, 2025, to approve cancellation of 500 stock options under the Route Mobile ESOP Plan 2021 for an employee whose employment has ceased (company filing).
INTELLECT
₹921.60
Intellect Design Arena
7D
0.2%
1Y
2.8%

INTELLECT: Service Tax Relief And New Banking Wins Will Drive Upside

Analysts have kept their fair value estimate for Intellect Design Arena steady at ₹1,222.50. This indicates that the latest tweaks to discount rate, revenue growth, profit margin and future P/E assumptions are viewed as refinements rather than drivers of a fresh price target move.
SASKEN
₹1,355.00
Sasken Technologies
7D
-6.9%
1Y
-33.5%
RATEGAIN
₹667.35
RateGain Travel Technologies
7D
1.8%
1Y
-4.3%

RATEGAIN: Expanding Travel Partnerships And AI Tools Will Support Measured Future Performance

Analysts have held their fair value estimate for RateGain Travel Technologies steady at ₹766.13 per share, with only minimal tweaks to assumptions around discount rate, revenue growth, profit margin and future P/E feeding into an unchanged overall price target. What's in the News RateGain integrated its UNO Booking Engine with PayU to offer Indian hotels AI-driven booking journeys and localized payment options such as UPI, wallets, cards and Pay Later, with a focus on secure, low friction checkout for domestic travelers (Client Announcement).
INFOBEAN
₹790.50
InfoBeans Technologies
7D
-11.8%
1Y
95.3%
PELATRO
₹346.00
Pelatro
7D
4.7%
1Y
-20.8%
AURIONPRO
₹990.70
Aurionpro Solutions
7D
-6.1%
1Y
-38.3%

AURIONPRO: Upcoming AI Cash Management Wins Will Drive Future Earnings Potential

Analysts have slightly fine tuned their fair value estimate for Aurionpro Solutions to ₹1,570 per share. This reflects marginal adjustments to discount rate, growth, and profitability assumptions while maintaining their overall positive view on the company.
AURUM
₹191.92
Aurum PropTech
7D
4.6%
1Y
-19.4%