Computers - Software & Consulting industry
110 companies · ₹25.8 L cr · 28 with AI deep dives · Q1FY27 report
Record TCV meets AI pricing deflation: the sector wins more work but earns less per dollar booked.
- Revenue YoY
- +15.1%
- EBITDA margin
- 21.6%
- -10bps YoY
- Price, 1 year
- -19.0%
- 32% of names up
- P/E vs own 5y
- -12.6%
- 24.8x now
Exhibit 1The quarter in numbers
constant panel of 37 companies above ₹500 cr- Jun 26
- 2.36 L cr
- Mar 26
- 2.28 L cr
- QoQ
- +3.3%
- Jun 25
- 2.05 L cr
- YoY
- +15.1%
- Peak
- 2.36 L cr
- vs peak
- 0.0%
- Jun 26
- 21.6%
- Mar 26
- 22.5%
- QoQ
- -90bps
- Jun 25
- 21.7%
- YoY
- -10bps
- Peak
- 22.5%
- vs peak
- -90bps
Breadth: 95% of 39 companies grew revenue year on year (was 87% a quarter earlier) and 49% expanded margin (was 63%).
Exhibit 2What it costs
17.52x - 43.05x across the panel todayThe median name trades at 24.8x, -12.6% against this industry's own 5-year median of 28.4x, and -41.4% against its own peak of 42.3x.
Exhibit 3Structure
₹25.8 L crTata Consultancy Services Ltd is 32.8% of this industry by market cap. The top 5 are 77.6% and the top 10 are 92.9%.
Exhibit 4Screen
P/E below the sub-industry median of 24.79x, 5y ROCE above its median of 14.75%, and at least 2 growth triggers stated on the latest earnings call.
Which names clear this screen is premium
The screen runs on stated growth triggers from the latest earnings calls - the same guidance data the stock screener reserves for premium. Premium names every company in this industry that is cheap against its own median and has the triggers behind it.
See plans →Exhibit 5Coverage (25 of 110)
Every company here with a deep dive, topped up by market cap. The rest of the industry is in the appendix.
- Mcap
- ₹8.2 L cr
- P/E
- 16.4x
- EV/EBITDA
- -
- ROCE
- 54.9%
- Margin
- 26.1%
- Rev YoY
- +13.9%
- Mcap
- ₹10,163 cr
- P/E
- 41.9x
- EV/EBITDA
- 30.4x
- ROCE
- 9.8%
- Margin
- 19.7%
- Rev YoY
- +187.7%
- Mcap
- ₹9,676 cr
- P/E
- 27.3x
- EV/EBITDA
- 14.4x
- ROCE
- 13.8%
- Margin
- 21.3%
- Rev YoY
- +20.5%
- Mcap
- ₹7,318 cr
- P/E
- 23.3x
- EV/EBITDA
- -
- ROCE
- 21.7%
- Margin
- 26.6%
- Rev YoY
- +11.2%
- Mcap
- ₹5,261 cr
- P/E
- 23.6x
- EV/EBITDA
- 14.2x
- ROCE
- 17.2%
- Margin
- 19.6%
- Rev YoY
- +14.3%
Exhibit 6What managements said
from this industry's latest earnings calls · as of 2026-06-30A critical mass of managements now disclose discrete AI revenue metrics. TCS: $2.6B annualized AI services, +13.6% QoQ. Infosys: AI-first revenues at 8.2% of total, up from 5.5%…
- TCS (Q1FY27): “At the end of Q1 FY27, it stands at $2.6 billion in annualized revenue, which is up 13.6%…”
Exhibit 7Outlook
The outlook and what resolves next quarter
Where these managements said things are heading, and the dated, checkable events that would change it. Free with an account - 3 full reports a quarter.
Create a free account →AppendixThe other 85 companies
1-30- Mcap
- ₹16,504 cr
- P/E
- -
- EV/EBITDA
- -127004.2x
- ROCE
- 2.1%
- Margin
- -8.9%
- Rev YoY
- -
- Mcap
- ₹3,990 cr
- P/E
- -
- EV/EBITDA
- -1415.9x
- ROCE
- -1.0%
- Margin
- -10.4%
- Rev YoY
- +350.6%
- Mcap
- ₹2,051 cr
- P/E
- 49.2x
- EV/EBITDA
- 32.8x
- ROCE
- 31.9%
- Margin
- 18.4%
- Rev YoY
- +22.3%
- Mcap
- ₹538 cr
- P/E
- 33.8x
- EV/EBITDA
- -
- ROCE
- 24.9%
- Margin
- 16.1%
- Rev YoY
- -
- Mcap
- ₹422 cr
- P/E
- 13.6x
- EV/EBITDA
- 9.5x
- ROCE
- 18.6%
- Margin
- 17.0%
- Rev YoY
- +17.6%
- Mcap
- ₹246 cr
- P/E
- 198.6x
- EV/EBITDA
- 78.1x
- ROCE
- 9.6%
- Margin
- 7.3%
- Rev YoY
- +33.8%
55 more companies
This industry has 85 constituents beyond the covered names. The first page is free; premium opens the rest.
See plans →