IT - Software industry
166 companies · ₹758.5 L cr · 32 with AI deep dives
5y revenue CAGR
median 13.54%(p25 2.28% · p75 24.52%)
5y avg ROCE
median 12.46%(p25 1.66% · p75 21.96%)
Debt / equity
median 0.15x(p25 0.02x · p75 0.5x)
AI sector brief
from the bucket's latest earnings calls · as of 2026-06-30tailwindAI services revenue inflecting with quantified run-rates; AI-originated deal capture accelerating8 managements
Eight managements reported measurable, growing AI revenue streams or AI-led deal pipelines. TCS reached $2.6B annualized AI services revenue (+13.6% QoQ). HCLTech reported $171M…
- TCS (Q1FY27): “At the end of Q1 FY27, it stands at $2.6 billion in annualized revenue, which is up 13.6%…”
tailwind7 managements🔒headwind6 managements🔒headwind3 managements🔒tailwind5 managements🔒headwind4 managements🔒headwind2 managements🔒headwind3 managements🔒
7 more themes from this quarter's earnings calls are locked. A free account opens the full brief: every theme with verbatim management quotes, the demand picture, companies running against the tide, and the regulatory & disruption watch. Sign up free →
| Company | Mcap | AI verdict | Signals | Stated KPIs (latest call) |
|---|---|---|---|---|
| Ajel Ltd | ₹732.8 L cr | Unlock | capex coming onlinelevering up | |
| Tata Consultancy Services Ltd | ₹8.7 L cr | Unlock | roce compounderearnings quality strongit cash machineit growth slowdown | |
| Infosys Ltd | ₹4.5 L cr | Unlock | roce compounderearnings quality strongit cash machine | |
| HCL Technologies Ltd | ₹3.6 L cr | Unlock | roce compounderearnings quality strongnet cashit cash machine | |
| Wipro Ltd | ₹1.8 L cr | Unlock | earnings quality strongit growth slowdown | |
| Tech Mahindra Ltd | ₹1.6 L cr | Unlock | earnings quality strongnet cashit growth slowdown | |
| LTM Ltd | ₹1.3 L cr | Unlock | roce compounder | |
| Oracle Financial Services Software Ltd | ₹98,658 cr | Unlock | roce compounderit cash machine | |
| Persistent Systems Ltd | ₹85,594 cr | Unlock | roce compounder | |
| Coforge Ltd | ₹74,618 cr | Unlock | earnings quality strongnet cash | |
| Mphasis Ltd | ₹46,073 cr | Unlock | roce compounderearnings quality strongit growth slowdown | |
| Hexaware Technologies Ltd | ₹36,255 cr | Unlock | roce compounderearnings quality strong | |
| Tata Elxsi Ltd | ₹22,276 cr | Unlock | roce compounderit cash machine | |
| Idream Film Infrastructure Company Ltd | ₹17,397 cr | Unlock | ||
| KPIT Technologies Ltd | ₹16,517 cr | Unlock | roce compounderearnings quality strongit cash machine | |
| Fractal Analytics Ltd | ₹13,684 cr | Unlock | earnings quality strongnet cash | |
| Zensar Technologies Ltd | ₹11,924 cr | Unlock | earnings quality strongit growth slowdown | |
| Rategain Travel Technologies Ltd | ₹10,682 cr | Unlock | latent operating leverage | |
| Intellect Design Arena Ltd | ₹10,180 cr | Unlock | capex coming onlineearnings quality strongnet cash | |
| Birlasoft Ltd | ₹8,388 cr | Unlock | earnings quality strongnet cashit growth slowdown | |
| Sonata Software Ltd | ₹8,359 cr | Unlock | roce compounderearnings quality strong | |
| Tanla Platforms Ltd | ₹7,915 cr | Unlock | roce compounder | |
| Newgen Software Technologies Ltd | ₹7,478 cr | Unlock | roce compounderit cash machine | |
| Asm Technologies Ltd | ₹6,639 cr | Unlock | earnings quality strongdeleveraging | |
| Latent View Analytics Ltd | ₹6,445 cr | Unlock | latent operating leveragenet cash | |
| C.E. Info Systems Ltd | ₹6,237 cr | Unlock | roce compounder | |
| Happiest Minds Technologies Ltd | ₹5,844 cr | Unlock | latent operating leverageearnings quality stronglevering up | |
| Mastek Ltd | ₹5,813 cr | Unlock | earnings quality strong | |
| Aurionpro Solutions Ltd | ₹4,087 cr | Unlock | latent operating leveragenet cash | |
| Capillary Technologies India Ltd | ₹4,037 cr | Unlock | earnings quality strongnet cashit cash machine | |
| 63 Moons Technologies Ltd | ₹3,477 cr | Unlock | net cashit growth slowdown | |
| TechNVision Ventures Ltd | ₹3,025 cr | Unlock | latent operating leverageearnings quality stronglevering up | |
| Silver Touch Technologies Ltd | ₹2,602 cr | Unlock | earnings quality weak | |
| Mobavenue Ai Tech Ltd | ₹2,422 cr | Unlock | capex coming onlineearnings quality strongnet cash | |
| Ramco Systems Ltd | ₹2,270 cr | Unlock | ||
| Saksoft Ltd | ₹2,161 cr | Unlock | latent operating leverageroce compounderearnings quality strongnet cash | |
| Kody Technolab Ltd | ₹2,010 cr | Unlock | net cash | |
| Nucleus Software Exports Ltd | ₹1,909 cr | Unlock | ||
| Hypersoft Technologies Ltd | ₹1,815 cr | Unlock | earnings quality weak | |
| Accelya Solutions India Ltd | ₹1,745 cr | Unlock | roce compounderearnings quality strongit cash machine | |
| Magellanic Cloud Ltd | ₹1,657 cr | Unlock | roce compounderearnings quality strongdeleveraging | |
| Axis Solutions Ltd | ₹1,653 cr | Unlock | ||
| InfoBeans Technologies Ltd | ₹1,629 cr | Unlock | earnings quality strongit cash machine | |
| NINtec Systems Ltd | ₹1,573 cr | Unlock | roce compoundernet cash | |
| Blue Cloud Softech Solutions Ltd | ₹1,493 cr | Unlock | earnings quality strong | |
| TAC Infosec Ltd | ₹1,029 cr | Unlock | capex coming onlineroce compoundernet cashit cash machine | |
| Unicommerce eSolutions Ltd | ₹958 cr | Unlock | earnings quality strongit cash machine | |
| Quick Heal Technologies Ltd | ₹853 cr | Unlock | earnings quality strongcapital destroyerit growth slowdown | |
| Xchanging Solutions Ltd | ₹735 cr | Unlock | it cash machineit growth slowdown | |
| Innovana Thinklabs Ltd | ₹696 cr | Unlock | capex coming onlineearnings quality weaknet cash | |
| Subex Ltd | ₹683 cr | Unlock | it growth slowdown | |
| Ksolves India Ltd | ₹660 cr | Unlock | roce compoundernet cashit cash machine | |
| Mindteck (India) Ltd | ₹622 cr | Unlock | ||
| Covance Softsol Ltd | ₹569 cr | Unlock | earnings quality weak | |
| Softtech Engineers Ltd | ₹561 cr | Unlock | earnings quality strong | |
| CSM Technologies Ltd | ₹521 cr | Unlock | roce compounderearnings quality weak | |
| Rnit Ai Solutions Ltd | ₹500 cr | Unlock | earnings quality weak | |
| IRIS Regtech Solutions Ltd | ₹497 cr | Unlock | capex coming onlinenet cashit cash machine | |
| 3i Infotech Ltd | ₹455 cr | Unlock | it growth slowdown | |
| Workmates Core2cloud Solution Ltd | ₹426 cr | Unlock | roce compounderearnings quality weak | |
| Cybertech Systems & Software Ltd | ₹424 cr | Unlock | earnings quality strongnet cash | |
| XT Global Infotech Ltd | ₹416 cr | Unlock | ||
| ABM Knowledgeware Ltd | ₹386 cr | Unlock | earnings quality weakcapital destroyer | |
| Virtual Galaxy Infotech Ltd | ₹368 cr | Unlock | roce compounderearnings quality strong | |
| Trejhara Solutions Ltd | ₹328 cr | Unlock | latent operating leveragenet cash | |
| Systango Technologies Ltd | ₹322 cr | Unlock | roce compoundernet cashit cash machine | |
| Aion-Tech Solutions Ltd | ₹288 cr | Unlock | latent operating leverage | |
| Empower India Ltd | ₹283 cr | Unlock | ||
| All E Technologies Ltd | ₹273 cr | Unlock | capex coming onlineroce compoundernet cash | |
| Ace Software Exports Ltd | ₹272 cr | Unlock | latent operating leveragecapex coming online | |
| Equippp Social Impact Technologies Ltd | ₹250 cr | Unlock | levering up | |
| Alphalogic Techsys Ltd | ₹247 cr | Unlock | latent operating leveragecapex coming onlinelevering up | |
| Artificial Electronics Intelligent Material Ltd | ₹243 cr | Unlock | roce compounderearnings quality weak | |
| Ace Alpha Tech Ltd | ₹239 cr | Unlock | roce compounderearnings quality weak | |
| Fidel Softech Ltd | ₹226 cr | Unlock | roce compounder | |
| Gtt Data Solutions Ltd | ₹218 cr | Unlock | ||
| Trident Techlabs Ltd | ₹213 cr | Unlock | earnings quality strong | |
| Capitalnumbers Infotech Ltd | ₹210 cr | Unlock | it cash machine | |
| DRC Systems India Ltd | ₹192 cr | Unlock | latent operating leverageroce compounderearnings quality strongit cash machine | |
| Atishay Ltd | ₹185 cr | Unlock | net cash | |
| Avance Technologies Ltd | ₹176 cr | Unlock | ||
| Virinchi Ltd | ₹175 cr | Unlock | earnings quality strongcapital destroyerit growth slowdown | |
| Trigyn Technologies Ltd | ₹165 cr | Unlock | earnings quality strongnet cashcapital destroyerit growth slowdown | |
| Naapbooks Ltd | ₹150 cr | Unlock | capex coming onlinenet cash | |
| Shradha Ai Technologies Ltd | ₹147 cr | Unlock | ||
| Focus Business Solution Ltd | ₹142 cr | Unlock | net cash | |
| Methodhub Software Ltd | ₹140 cr | Unlock | capex coming onlineroce compounderearnings quality weak | |
| SecMark Consultancy Ltd | ₹133 cr | Unlock | earnings quality strong | |
| California Software Company Ltd | ₹132 cr | Unlock | net cash | |
| Omega Interactive Technologies Ltd | ₹123 cr | Unlock | net cash | |
| Covidh Technologies Ltd | ₹121 cr | Unlock | earnings quality strong | |
| Xelpmoc Design and Tech Ltd | ₹120 cr | Unlock | it growth slowdown | |
| Canarys Automations Ltd | ₹113 cr | Unlock | earnings quality weaknet cash | |
| Silverline Technologies Ltd | ₹108 cr | Unlock | capex coming online | |
| Mobilise App Lab Ltd | ₹106 cr | Unlock | roce compounderearnings quality strongnet cashit cash machine | |
| Delaplex Ltd | ₹87 cr | Unlock | capex coming onlineroce compounderearnings quality strong | |
| Athena Global Technologies Ltd | ₹84 cr | Unlock | latent operating leveragedeleveragingcapital destroyerit growth slowdown | |
| R S Software (India) Ltd | ₹83 cr | Unlock | latent operating leveragecapital destroyerit growth slowdown | |
| Cg-vak Software & Exports Ltd | ₹82 cr | Unlock | earnings quality strongcyclical peak baseit growth slowdown | |
| Bits Ltd | ₹81 cr | Unlock | latent operating leverageearnings quality strong |