Sector analysis · India
IT sector earnings growth, Q1 FY27
The 20 largest Information Technology companies by market cap at the end of Q1 FY27 (30 Jun 2026), compared with Q1 FY26.
The top 20 at Q1 FY27
Q1 FY27 vs Q1 FY26: combined net profit ₹36,767 cr (+12%), median EPS +15% (17 of 19 up), market-cap-weighted price −35%. 20 of 20 reported.
| # | Company | Weight | EPS ₹, base → now | EPS growth | Contribution | Price |
|---|---|---|---|---|---|---|
| 1 | Tata Consultancy Services Limited | 31.2% | 35.27 → 36.90 | +5% one source | +1.8 pp | −41% |
| 2 | Infosys | 17.3% | 16.66 → 19.15 | +15% | +2.6 pp | −38% |
| 3 | HCL Technologies Limited | 12.4% | 14.16 → 17.04 | +20% | +2.4 pp | −38% |
| 4 | Wipro Limited | 7.6% | 3.18 → 3.38 | +6% | +0.1 pp | −32% |
| 5 | Tech Mahindra Limited | 5.9% | 11.65 → 14.95 | +28% | +1.0 pp | −17% |
| 6 | LTM Limited | 4.5% | 42.32 → 49.43 | +17% | +0.7 pp | −33% |
| 7 | Oracle Financial Services Software Limited | 4.0% | 73.87 → 162.57 | +120% | +2.4 pp | +20% |
| 8 | Persistent Systems Limited | 2.9% | 27.17 → 30.62 | +13% one source | +0.2 pp | −28% |
| 9 | Coforge Limited | 2.2% | — → 11.71 | sources disagree one source | — | −40% |
| 10 | MphasiS Limited | 1.8% | 23.22 → 25.65 | +10% one source | +0.1 pp | −24% |
| 11 | L&T Technology Services Limited | 1.4% | 29.79 → 33.62 | +13% one source | +0.1 pp | −29% |
| 12 | Hexaware Technologies Limited | 1.3% | 6.24 → 5.40 | −13% one source | −0.2 pp | −39% |
| 13 | Inventurus Knowledge Solutions Limited | 1.2% | 8.83 → 11.29 | +28% one source | +0.1 pp | +4% |
| 14 | Tata Technologies Limited | 1.2% | 4.20 → 4.45 | +6% | 0.0 pp | −4% |
| 15 | Netweb Technologies India Limited | 1.1% | 5.38 → 14.98 | +178% | +0.2 pp | +146% |
| 16 | Tata Elxsi | 1.0% | 23.18 → 27.38 | +18% one source | +0.1 pp | −39% |
| 17 | Affle 3i | 0.8% | 7.51 → 9.12 | +21% | +0.1 pp | −29% |
| 18 | Sagility Limited | 0.8% | 0.32 → 0.46 | +44% | +0.2 pp | −4% |
| 19 | KPIT Technologies Limited | 0.8% | 6.27 → 4.27 | −32% | −0.2 pp | −47% |
| 20 | Black Box | 0.7% | 2.79 → 3.15 | +13% one source one-off | 0.0 pp | +81% |
| Sector earnings growth | 100% | +11.8 pp |
Who joined and who left
1 joined and 1 left the top 20 since Q4 FY26, as market caps moved.
Joined the top 20 since Q4 FY26
Left the top 20 since Q4 FY26
- Fractal Analytics Limited
EPS growth by company, Q2 FY24 to Q1 FY27
Each company's EPS growth year on year, every quarter it was in the top 20.
| Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| TCS | +9% | +3% | +10% | +10% | +6% | +12% | −2% | +6% | +1% | −14% | +12% | +5% |
| INFY | +5% | −6% | +30% | +7% | +5% | +11% | −12% | +9% | +13% | 0% | +24% | +15% |
| HCLTECH | +10% | +6% | 0% | +21% | +11% | +6% | +8% | −10% | 0% | −11% | +4% | +20% |
| WIPRO | +5% | −7% | −3% | +10% | +21% | +24% | +26% | +11% | +1% | −7% | −2% | +6% |
| TECHM | −62% | −61% | −41% | +26% | +153% | +92% | +76% | +30% | −5% | +14% | +16% | +28% |
| LTM | +1% | +17% | −1% | −2% | +8% | −7% | +3% | +11% | +12% | −11% | +23% | +17% |
| OFSS | +5% | +69% | +16% | +23% | +38% | −27% | +15% | +4% | −6% | +12% | +30% | +120% |
| PERSISTENT | +19% | +19% | +24% | +34% | +22% | +29% | +24% | +37% | +45% | +16% | +32% | +13% |
| COFORGE | sources disagree | sources disagree | sources disagree | −26% | −1% | −22% | +8% | sources disagree | sources disagree | sources disagree | sources disagree | sources disagree |
| MPHASIS | −7% | −10% | −3% | +2% | +8% | +14% | +13% | +9% | +10% | +3% | +14% | +10% |
| LTTS | +12% | +11% | +10% | +1% | +1% | −4% | −9% | +1% | +3% | −6% | +7% | +13% |
| HEXT | outside | outside | outside | outside | outside | outside | +61% | +101% | +88% | −9% | +7% | −13% |
| IKS | outside | outside | outside | outside | outside | +14% | +246% | +165% | +96% | +41% | +39% | +28% |
| TATATECH | outside | +15% | −27% | −15% | −2% | −1% | +20% | +5% | +5% | −96% | +8% | +6% |
| NETWEB | outside | outside | outside | outside | outside | outside | outside | outside | +22% | +141% | +63% | +178% |
| TATAELXSI | +15% | +6% | −2% | −3% | +15% | −4% | −12% | −22% | −33% | −45% | +28% | +18% |
| AFFLE | +14% | +6% | +33% | +24% | +31% | +30% | +18% | +22% | +20% | +19% | +16% | +21% |
| SAGILITY | outside | outside | outside | outside | outside | +204% | +105% | +540% | +116% | +24% | +41% | +44% |
| KPITTECH | +69% | +54% | +47% | +52% | +45% | +20% | +49% | −16% | −17% | −29% | −33% | −32% |
| BBOX | outside | outside | outside | outside | outside | outside | outside | outside | outside | outside | outside | +13% |