Sector analysis · India
IT sector earnings growth, Q1 FY26
The 20 largest Information Technology companies by market cap at the end of Q1 FY26 (30 Jun 2025), compared with Q4 FY25.
The top 20 at Q1 FY26
Q1 FY26 vs Q4 FY25: combined net profit ₹32,577 cr (−1%), median EPS −1% (8 of 19 up), market-cap-weighted price +3%. 20 of 20 reported.
| # | Company | Weight | EPS ₹, base → now | EPS growth | Contribution | Price |
|---|---|---|---|---|---|---|
| 1 | Tata Consultancy Services Limited | 34.9% | 33.79 → 35.27 | +4% | +1.6 pp | −4% |
| 2 | Infosys | 18.5% | 16.93 → 16.66 | −2% | −0.3 pp | +2% |
| 3 | HCL Technologies Limited | 13.1% | 15.87 → 14.16 | −11% | −1.4 pp | +9% |
| 4 | Wipro Limited | 7.8% | 3.41 → 3.18 | −7% | −0.7 pp | +1% |
| 5 | Tech Mahindra Limited | 4.6% | 11.92 → 11.65 | −2% | −0.1 pp | +19% |
| 6 | LTM Limited | 4.4% | 38.09 → 42.32 | +11% | +0.4 pp | +18% |
| 7 | Persistent Systems Limited | 2.6% | 25.39 → 27.17 | +7% | +0.1 pp | +10% |
| 8 | Oracle Financial Services Software Limited | 2.2% | 74.13 → 73.87 | 0% | 0.0 pp | +14% |
| 9 | Coforge Limited | 1.8% | — → 10.44 | sources disagree | — | +19% |
| 10 | MphasiS Limited | 1.5% | 23.49 → 23.22 | −1% | 0.0 pp | +14% |
| 11 | Hexaware Technologies Limited | 1.4% | 5.38 → 6.24 | +16% | +0.2 pp | +21% |
| 12 | L&T Technology Services Limited | 1.3% | 29.38 → 29.79 | +1% | 0.0 pp | −2% |
| 13 | Tata Elxsi | 1.1% | 27.68 → 23.18 | −16% | −0.1 pp | +21% |
| 14 | KPIT Technologies Limited | 1.0% | 8.93 → 6.27 | −30% | −0.2 pp | −4% |
| 15 | Tata Technologies Limited | 0.8% | 4.66 → 4.20 | −10% | −0.1 pp | +5% |
| 16 | Affle 3i | 0.8% | 7.34 → 7.51 | +2% | 0.0 pp | +24% |
| 17 | Inventurus Knowledge Solutions Limited | 0.8% | 8.61 → 8.83 | +3% | 0.0 pp | +5% |
| 18 | Sagility Limited | 0.5% | 0.39 → 0.32 | −18% | −0.1 pp | −4% |
| 19 | Zensar Technologies Limited | 0.5% | 7.77 → 8.01 | +3% | 0.0 pp | +20% |
| 20 | Newgen Software Technologies Limited | 0.5% | 7.65 → 3.51 | −54% | −0.2 pp | +18% |
| Sector earnings growth | 100% | −0.9 pp |
Who joined and who left
0 joined and 0 left the top 20 since Q4 FY25, as market caps moved.
Joined the top 20 since Q4 FY25
Left the top 20 since Q4 FY25
EPS growth by company, Q2 FY24 to Q1 FY27
Each company's EPS growth quarter on quarter, 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 | +2% | −1% | +12% | −3% | −1% | +4% | −1% | +4% | −5% | −12% | +29% | −3% |
| INFY | +5% | −2% | +31% | −20% | +2% | +5% | +3% | −2% | +6% | −7% | +28% | −9% |
| HCLTECH | +8% | +14% | −8% | +7% | −1% | +8% | −6% | −11% | +10% | −4% | +10% | +3% |
| WIPRO | −3% | +2% | +5% | +6% | +7% | +4% | +7% | −7% | −3% | −4% | +12% | +1% |
| TECHM | −29% | +3% | +29% | +32% | +43% | −21% | +19% | −2% | +5% | −6% | +21% | +8% |
| LTM | +1% | +1% | −6% | +3% | +10% | −13% | +4% | +11% | +12% | −31% | +43% | +5% |
| PERSISTENT | +15% | +9% | +10% | −3% | +5% | +15% | +6% | +7% | +11% | −8% | +20% | −9% |
| OFSS | −17% | +77% | −24% | +10% | −6% | −6% | +19% | 0% | −15% | +12% | +38% | +68% |
| COFORGE | +13% | +36% | −13% | −45% | +52% | +6% | +21% | sources disagree | sources disagree | sources disagree | sources disagree | sources disagree |
| MPHASIS | −1% | −5% | +5% | +3% | +5% | +1% | +4% | −1% | +6% | −6% | +15% | −4% |
| HEXT | outside | outside | outside | outside | outside | outside | +3% | +16% | −3% | −21% | +20% | −6% |
| LTTS | +1% | +7% | +1% | −8% | +2% | +1% | −4% | +1% | +4% | −8% | +10% | +7% |
| TATAELXSI | +6% | +3% | −5% | −7% | +25% | −13% | −13% | −16% | +7% | −30% | +102% | −23% |
| KPITTECH | +5% | +10% | +6% | +24% | 0% | −8% | +31% | −30% | −2% | −21% | +22% | −28% |
| TATATECH | outside | +6% | −8% | +3% | −3% | +7% | +12% | −10% | −3% | −96% | +3,044% | −12% |
| AFFLE | +1% | +9% | +14% | −1% | +6% | +9% | +3% | +2% | +5% | +8% | 0% | +7% |
| IKS | outside | outside | outside | outside | outside | +41% | +14% | +3% | +19% | +2% | +12% | −6% |
| SAGILITY | outside | outside | outside | outside | outside | +84% | −15% | −18% | +69% | +6% | −4% | −16% |
| ZENSARTECH | outside | outside | +7% | −9% | −2% | +3% | +10% | +3% | 0% | +10% | outside | outside |
| NEWGEN | +59% | +43% | outside | outside | +48% | +27% | +21% | −54% | outside | outside | outside | outside |