Coforge
- Market cap
- ₹ 84,155 Cr.
- P/E
- 38.8x
- P/B
- 6.72x
- 52-week range
- 1,008.1 – 2,021.2
- ROE
- 21%
- ROCE
- 24%
- Dividend yield
- 0.6%
- Debt / equity
- 0.08
- Sector
- IT - Software
- Industry
- Computers - Software & Consulting
- Listed on
- NSE, BSE
About
Coforge Limited is an India-based artificial intelligence (AI)-native engineering services company. The Company is a digital services and solutions provider that leverages emerging technologies and domain expertise to deliver real-world business impact for its clients. The Company uses AI and hyperspecializes industry expertise to engineer autonomous enterprises. Its business process solutions is a disruptive AI-led business operations provider. Its AI-driven platforms include Quasar AI, Coforge Forge-X, EvolveOps.AI, and AIVA. It serves various industries, including banking & financial services; travel, transportation and hospitality; insurance; healthcare and life sciences, and public sector. Its geographical segments include Americas, Europe, Middle East, and Africa, Asia Pacific, and India. Its salesforce ecosystem includes Salesforce, and Mulesoft. Its digital process automation includes Appian, Pega, Mendix, and OutSystems. EvolveOps.AI, its autonomous IT operations platform.
Quick check
The five things to look at first. Open one for more.
Compared with its industry
Computers - Software & Consulting: 108 companies →Coforge against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.
- Valuation (P/E)38.8 against a typical 21.9: pricier than most peers (1st = cheapest).76th of 108
- Sales growth+53.7% against a typical +10.6% from a year earlier.14th of 90
- Profit growth+42.4% against a typical +1.1% from a year earlier.18th of 75
- Share price, 3 months+16.4% against a typical −8.4%.16th of 97
- Size₹ 84,154.9 Cr. market value against a typical ₹ 218.6 Cr. (1st = largest).7th of 101
Latest announcements
Exchange filings and their impact on the company.
- Encora-driven 54% revenue jump transforms scale, with profit up 42% despite higher debt and dilution.
Coforge reported Q2 FY27 consolidated revenue of Rs 6,170.8 crore, up 53.6% year-on-year and 11.6% quarter-on-quarter, with net profit of Rs 604.9 crore and an exceptional cost of Rs 55.7 crore for the Encora acquisition. The Encora deal closed on April 23, 2026 through a share-swap plus debt-funded cash, lifting goodwill to Rs 16,535 crore, equity to Rs 22,361 crore and borrowings to Rs 5,645 crore. The board also noted the chairperson change to Akhil Kumar Gupta, in-principle approval for a new US entity Momentum Blue, and dissolution of an Italian step-down subsidiary.
Credit ratings
Every rating action on file, newest first, including reaffirmations. Open a row for the agency's reasoning. All credit rating updates
High safety
Rated AA+ by CRISIL- No warnings from the agency.
| Agency | Current rating | Outlook | As of |
|---|---|---|---|
| CRISIL | Crisil AA+ | Stable | 18 Sep 2026 |
| Rating | Details | |||||
|---|---|---|---|---|---|---|
| 18 Sep 2026 | Reaffirmed | Crisil AA+ | — | CRISIL | ₹ 5,069.46 Cr. | |
| 2 Jul 2026 | Reaffirmed | Crisil AA+ | — | CRISIL | ₹ 5,069.46 Cr. | |
| 7 Jan 2026 | Reaffirmed | Crisil AA+ | — | CRISIL | ₹ 989 Cr. | |
| 7 Nov 2025 | ▲ Upgrade | Crisil AA+ | — | CRISIL | ₹ 989 Cr. |
Research by Minerva Capital Research Solutions
Our research team's work on CoforgeAlso covered in
Board meetings
Results dates and other board meetings. Full calendar
| Details | ||
|---|---|---|
| 23 Oct 2026 | Financial Results | To consider and approve the financial results for the period ended September 30, 2026 |
| 27 Jul 2026 | Financial Results/Dividend | To consider and approve the financial results for the period ended Jun 30, 2026 and dividend |
| 5 May 2026 | Financial Results/Dividend | To consider and approve the financial results for the period ended March 31, 2026 and dividend |
| 22 Jan 2026 | Financial Results/Dividend | To consider and approve the financial results for the period ended December 31, 2025 and dividend |
| 26 Dec 2025 | Fund Raising | To consider Fund Raising |
| 24 Oct 2025 | Financial Results/Dividend | To consider and approve the financial results for the period ended September 30, 2025 and dividend |
Financials
Consolidated figures in ₹ crore.
| ₹ Cr. | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 2,323 | 2,318 | 2,357 | 3,026 | 3,258 | 3,422 | 3,704 | 4,016 | 4,232 | 4,450 | 5,528 | 6,171 |
| Expenses | 1,928 | 1,929 | 2,048 | 2,603 | 2,823 | 2,895 | 3,127 | 3,257 | 3,508 | 3,574 | 4,470 | 4,948 |
| Operating Profit | 395 | 390 | 309 | 423 | 435 | 527 | 577 | 759 | 723 | 876 | 1,058 | 1,223 |
| OPM % | 17% | 17% | 13% | 14% | 13% | 15% | 16% | 19% | 17% | 20% | 19% | 20% |
| Other Income | 15 | 14 | 6 | 42 | 56 | 33 | 64 | 12 | −127 | −32 | −28 | −31 |
| Interest | 35 | 37 | 32 | 30 | 32 | 40 | 46 | 41 | 42 | 40 | 87 | 108 |
| Depreciation | 81 | 79 | 72 | 114 | 116 | 125 | 159 | 172 | 171 | 180 | 241 | 285 |
| Profit before tax | 294 | 288 | 211 | 320 | 343 | 395 | 436 | 558 | 384 | 625 | 702 | 799 |
| Tax % | 18% | 20% | 34% | 27% | 25% | 22% | 18% | 24% | 23% | −7% | 24% | 24% |
| Net Profit | 243 | 229 | 139 | 234 | 256 | 307 | 356 | 425 | 297 | 666 | 532 | 605 |
| EPS in Rs | 7.71 | 7.24 | 3.99 | 6.06 | 6.45 | 7.81 | 9.49 | 11.23 | 7.47 | 18.23 | 11.71 | 13.27 |
Growth and returns
Compounded yearly rates over each period.
- 10 Years
- 20%
- 5 Years
- 29%
- 3 Years
- 27%
- TTM
- 42%
- 10 Years
- 20%
- 5 Years
- 29%
- 3 Years
- 33%
- TTM
- 92%
- 10 Years
- 38%
- 5 Years
- 15%
- 3 Years
- 26%
- TTM
- —
- 10 Years
- 21%
- 5 Years
- 22%
- 3 Years
- 20%
- TTM
- —
P/E and EPS over time
Daily P/E and trailing 12-month EPS. EPS updates with each result.
Peers
Listed companies in the same business.
| Coforge | ₹ 1,961.90 | ₹ 84,155 Cr. | 38.8x | 6.7x | 21% | — |
| Tata Consultancy Services | ₹ 2,528.00 | ₹ 9,14,653 Cr. | 15.7x | 7.7x | 48% | 18.2% |
| Infosys | ₹ 1,154.50 | ₹ 4,68,523 Cr. | 14.8x | 4.8x | 31.2% | 16.5% |
| HCL Technologies | ₹ 1,424.00 | ₹ 3,86,426 Cr. | 18.8x | 4.4x | — | 13% |
| Tech Mahindra | ₹ 1,789.40 | ₹ 1,75,385 Cr. | 27.9x | 5.2x | — | 8.7% |
| Billionbrains Garage Ventures | ₹ 181.65 | ₹ 1,13,960 Cr. | 61.3x | 13.3x | — | 46.5% |
Management
- Sudhir Singh
- Chief Executive Officer, Executive Director
- Saurabh Goel
- Chief Financial Officer
- Barkha Sharma
- Compliance Officer, Company Secretary
- John Speight
- Executive Director
Prices are delayed and for information only. Nothing on this page is investment advice.