Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Indian (NIFTY) Application Software Industry Analysis

UpdatedApr 26, 2026
DataAggregated Company Financials
Companies63
  • 7D5.1%
  • 3M3.1%
  • 1Y-1.2%
  • YTDn/a

Over the last 7 days, the Application Software industry has risen 5.1%, driven by gains from Oracle Financial Services Software of 12%. During this same period, the Aurionpro Solutions underperformed, falling 9.9%. The industry has been flat over the past 12 months despite the gain this week. As for the next few years, earnings are expected to grow by 18% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 26 Apr 2026₹1.8t₹366.2b₹57.8b26.7x30.3x4.8x
Tue, 24 Mar 2026₹1.4t₹359.8b₹55.5b21.6x25.2x3.9x
Thu, 19 Feb 2026₹1.6t₹358.4b₹55.4b26.9x28x4.3x
Sat, 17 Jan 2026₹1.6t₹315.8b₹50.4b32x31.3x5x
Mon, 15 Dec 2025₹1.7t₹317.0b₹50.5b35.4x32.9x5.2x
Wed, 12 Nov 2025₹1.6t₹304.2b₹47.9b37.5x34.4x5.4x
Fri, 10 Oct 2025₹1.7t₹296.7b₹45.6b36.4x38.2x5.9x
Sun, 07 Sep 2025₹1.6t₹296.7b₹45.5b34.6x36x5.5x
Tue, 05 Aug 2025₹1.6t₹290.9b₹44.3b39.3x36.9x5.6x
Thu, 03 Jul 2025₹1.7t₹287.7b₹44.0b33x38.5x5.9x
Sat, 31 May 2025₹1.7t₹297.5b₹46.6b30.3x35.5x5.6x
Mon, 28 Apr 2025₹1.5t₹291.0b₹41.1b28.7x37.4x5.3x
Wed, 26 Mar 2025₹1.5t₹289.0b₹40.5b25.2x36.7x5.1x
Fri, 21 Feb 2025₹1.6t₹289.0b₹40.4b27.5x38.8x5.4x
Sun, 19 Jan 2025₹1.9t₹284.0b₹42.3b33.4x44x6.5x
Tue, 17 Dec 2024₹2.1t₹286.0b₹44.4b33.6x47.5x7.4x
Thu, 14 Nov 2024₹1.9t₹281.6b₹48.5b30.1x39.1x6.7x
Sat, 12 Oct 2024₹2.0t₹277.7b₹47.3b32.5x41.7x7.1x
Mon, 09 Sep 2024₹1.9t₹277.1b₹47.4b33.5x40.8x7x
Wed, 07 Aug 2024₹1.8t₹275.6b₹47.4b31.7x37.3x6.4x
Fri, 05 Jul 2024₹1.9t₹267.5b₹46.5b38.5x40.8x7.1x
Sun, 02 Jun 2024₹1.5t₹270.5b₹46.3b28x32x5.5x
Tue, 30 Apr 2024₹1.5t₹272.0b₹46.4b30.9x33.2x5.7x
Thu, 28 Mar 2024₹1.6t₹268.5b₹45.4b33.8x35.3x6x
Sat, 24 Feb 2024₹1.6t₹268.5b₹45.4b33.4x34.5x5.8x
Mon, 22 Jan 2024₹1.5t₹263.3b₹43.5b32.1x34.2x5.7x
Wed, 20 Dec 2023₹1.2t₹254.7b₹39.5b33.5x31.1x4.8x
Fri, 17 Nov 2023₹1.1t₹254.6b₹39.4b32x28.7x4.4x
Sun, 15 Oct 2023₹1.1t₹245.4b₹37.0b34.1x30.2x4.6x
Tue, 12 Sep 2023₹1.1t₹240.0b₹36.7b33.2x30.3x4.6x
Thu, 10 Aug 2023₹1.0t₹239.9b₹36.6b33.1x28.5x4.4x
Sat, 08 Jul 2023₹949.5b₹230.1b₹34.4b30.2x27.6x4.1x
Mon, 05 Jun 2023₹868.8b₹228.6b₹33.8b27.8x25.7x3.8x
Wed, 03 May 2023₹797.0b₹223.1b₹33.5b29.3x23.8x3.6x
Price to Earnings Ratio

23.8x


Total Market Cap: ₹797.0bTotal Earnings: ₹33.5bTotal Revenue: ₹223.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Application Software Industry Price to Earnings3Y Average 34.5x202420252026
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 30.4x which is lower than its 3-year average PE of 34.5x.
  • The 3-year average PS ratio of 5.4x is higher than the industry's current PS ratio of 4.8x.
Past Earnings Growth
  • The earnings for companies in the Application Software industry have grown 20% 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-0.91%
Tech-7.72%
Software1.54%
Application Software5.07%
Systems Software-6.26%
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₹8.96k12.0%
+₹83.7b		4.1%PE29.5x
FRACTAL Fractal Analytics₹947.457.8%
+₹11.8b		n/aPE71.1x
532408 Sigma Advanced Systems₹236.7520.9%
+₹7.2b		233.9%PE31.5x
539724 HyperSoft Technologies₹135.009.6%
+₹1.0b		564.7%PE461.4x
526881 63 moons technologies₹684.003.1%
+₹953.8m		2.2%PS31.7x

Latest News

532466
₹8,957.25
Oracle Financial Services Software
7D
12.0%
1Y
4.1%
AURIONPRO
₹831.45
Aurionpro Solutions
7D
-9.9%
1Y
-43.2%

AURIONPRO: Data Centre Wins And Metro Orders Will Support Future Earnings

Aurionpro Solutions’ analyst price target remains steady at ₹1,545, with analysts pointing to essentially unchanged assumptions for growth, profitability and future P/E as the basis for keeping their valuation view intact. What's in the News Aurionpro launched Fintra, an AI native trade finance platform that uses specialized AI agents for document processing, compliance screening, clause recommendation, and risk scoring.
FRACTAL
₹947.45
Fractal Analytics
7D
7.8%
1Y
n/a
532408
₹236.75
Sigma Advanced Systems
7D
20.9%
1Y
233.9%
ONMOBILE
₹55.58
OnMobile Global
7D
16.6%
1Y
11.2%
ROUTE
₹497.60
Route Mobile
7D
-3.0%
1Y
-48.8%

ROUTE: Leadership Transition And Governance Changes Will Support Future Upside Potential

Analysts have trimmed their price target on Route Mobile from ₹766.25 to ₹705.00, reflecting updated views on a slightly different discount rate, revenue growth, profit margin, and future P/E assumptions. What's in the News An upcoming special and extraordinary shareholders meeting is scheduled for March 30, 2026, via postal ballot in India to consider the appointment of Mr. Seckin Arikan as Chairman and Non Executive Non Independent Director.
MAPMYINDIA
₹921.85
C. E. Info Systems
7D
-3.6%
1Y
-48.7%

MAPMYINDIA: Leadership Changes And Mapping Partnership Will Shape A Balanced Outlook

The consensus analyst price target for C. E.
DIGISPICE
₹20.47
DiGiSPICE Technologies
7D
12.5%
1Y
4.5%
INFOBEAN
₹168.35
InfoBeans Technologies
7D
-11.3%
1Y
122.6%
RATEGAIN
₹589.85
RateGain Travel Technologies
7D
1.1%
1Y
33.4%

RATEGAIN: AI Travel Data Platform Will Drive Future Upside Potential

Analysts have kept their fair value estimate for RateGain Travel Technologies steady at ₹875.0. The unchanged price target reflects offsetting tweaks to assumptions, including a slightly higher discount rate, more measured revenue growth expectations, a modestly stronger profit margin outlook, and a higher future P/E multiple. What's in the News RateGain launched RG Pay, a unified payments infrastructure aimed at improving revenue realization, payment flexibility, and cross-border settlement for hotels, OTAs, and travel partners across global markets.
531209
₹775.65
Nucleus Software Exports
7D
-4.6%
1Y
-12.4%

531209: Vietnam Hub And New Equity Incentive Overhaul Will Support Future Upside

Analysts have kept the fair value for Nucleus Software Exports steady at ₹1,200, reflecting only marginal tweaks in assumptions around the discount rate, revenue growth, profit margin, and future P/E to support their unchanged price target. What's in the News A board meeting is scheduled on Feb 10, 2026 to consider audited standalone financial results and unaudited consolidated financial results for the quarter and nine months ending Dec 31, 2025 (company filing).
543931
₹268.65
Veefin Solutions
7D
-10.1%
1Y
-10.4%
SASKEN
₹1,267.80
Sasken Technologies
7D
-5.8%
1Y
-22.3%
539724
₹135.00
HyperSoft Technologies
7D
9.6%
1Y
564.7%
526881
₹684.00
63 moons technologies
7D
3.1%
1Y
2.2%
BLACKBUCK
₹597.25
BlackBuck
7D
-4.2%
1Y
46.8%