Oracle Financial Services Software Limited
NSE: OFSSSoftware Products
Share price
₹10,400.00
-1.66% close of 8 Oct 2026
Business score
How strong the business is, in one number. The parts behind it are in Pro.
74
out of 100 · worked out 8 Oct 2026
Your ratios
The numbers you want to see first. Tap Edit to change them.
Market cap
₹91,520 Cr
P/E ratio
26.8
P/B ratio
11.6
ROCE
45.3%
ROE
32.6%
Dividend yield
3.8%
Price & valuation chart
How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.
Answers
Simple answers to the questions investors ask most, from the company's own numbers.
How fast it has been growing
Sales grew 28.6% over the past year, and 6.5% a year over its longer record. Meanwhile what it keeps of every 100 rupees of sales improved from 46.2% to 48.8% over the last four years.
Whether it grew faster than its sector
It grew 6.5% a year against a sector median of 14.5% — 8.0 percentage points slower.
Room to re-rate, or risk of de-rating
At 26.8× earnings against a market that pays 23.9× across 2199 companies we can price. Its own industry sits at 33.7×, across 4 companies. It is against its own five-year median of 27.1×, the 49th percentile of its own range.
Whether growth justifies the valuation
Priced at 2.1 times its growth rate, on earnings growth of 13%.
| Profit growth | Price per ₹1 profit | Per 1% growth | |
|---|---|---|---|
| Oracle Financial Services Software Limited — this one | 13%/yr | 26.8× | ₹2.1 |
| Tanla Platforms Limited | 4%/yr | 12.1× | ₹3.0 |
| C.E. Info Systems Limited | 2%/yr | 34.9× | ₹17.5 |
| Capillary Technologies India Limited | 31%/yr | 86.9× | ₹2.8 |
| TechNVision Ventures Limited | 0%/yr | — | — |
| Ramco Systems Limited | 32%/yr | 32.4× | ₹1.0 |
Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
How it compares with its peers
Against companies the exchange files under the same label (Software Products), it ranks 1 of 17 on returns, 12 of 16 on growth, 1 of 17 on margin. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
What makes it hard to beat — and is that still true?
A wide advantage: it earns 45.3% on capital, ahead of 94% of companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
Whether its growth pays for itself
Yes — Over the last five years it made ₹10242 crore of cash from the business, spent ₹191 crore on plant and equipment, and returned ₹10901 crore to lenders and shareholders. And the profit is real: of every 100 rupees it reported over 12 years, about 95 arrived as cash.
Profit reality check
Is the profit real cash? Simple checks on the accounts. Facts only, not advice.
9 of 9 checks clear · 100%
Latest result
What the last results showed. Whether management kept its word is in Pro.
Results are expected soon.
Checklist before you investPRO
Points for and against, in one list.
Key numbers & peers
The main numbers grouped by topic, and how the company compares with similar ones.
Price
- Market cap
- ₹91,520 Cr
- Prev close
- ₹10,400.00
- 52w High
- ₹12,540
- 52w Low
- ₹6,235
- Enterprise value
- ₹86,042 Cr
- Beta
- 1.1
- Price CAGR 1y
- 15.0%
- Price CAGR 3y
- 37.0%
- Price CAGR 5y
- 17.0%
- Price CAGR 10y
- 12.0%
Ratios
- Return on assets
- 26.7%
- PEG ratio
- 2.0
- P/E ratio
- 26.8
- P/B ratio
- 11.6
- EV / EBITDA
- 19.1
- Industry P/E
- 32.2
- ROCE
- 45.3%
- ROCE 5y average
- 39.4%
- ROE
- 32.6%
- Debt / Equity
- 0.0
- Interest coverage
- 1841.0
- Dividend yield
- 3.8%
- ROE 3y average
- 30.0%
- ROE last year
- 33.0%
Annual P&L
- Annual revenue
- ₹7,672 Cr
- Annual profit
- ₹2,639 Cr
- Operating margin
- 45.0%
- Net profit margin
- 34.4%
- EBITDA margin
- 45.3%
- Sales growth 3y
- 10.4%
- Sales growth 5y
- 9.0%
- Profit growth 3y
- 13.0%
- Profit growth 5y
- 8.0%
- EPS
- ₹303
- Sales growth TTM
- 29.0%
- Profit growth TTM
- 42.0%
- Dividend payout
- 132.0%
Quarter P&L
- Sales latest quarter
- ₹3,125 Cr
- Profit latest quarter
- ₹1,416 Cr
- YoY quarterly sales growth
- 68.7%
- YoY quarterly profit growth
- 120.6%
- OPM latest quarter
- 60.0%
Balance Sheet
- Book Value
- ₹889
- Face Value
- ₹5.0
- Total debt
- ₹32 Cr
- Total cash
- ₹5,510 Cr
- Borrowings
- ₹32 Cr
- Reserves / Equity
- 176.9
Cash Flow
- Operating cash flow
- ₹2,638 Cr
- Free cash flow
- ₹2,587 Cr
- FCF yield
- 2.8%
- Net cash flow
- ₹274 Cr
Shareholding
- Promoter holding
- 72.4%
- FII holding
- 9.7%
- DII holding
- 8.8%
- Public holding
- 9.1%
Peer comparison
| Company | Price ₹ | P/E | Mkt cap ₹ Cr | Div yield % | Profit qtr ₹ Cr | Profit var % | Sales qtr ₹ Cr | Sales var % | ROCE % |
|---|---|---|---|---|---|---|---|---|---|
| Oracle Fin.Serv. | 10,622.30 | 27.1 | 92,522 | 3.79 | 1,415.5 | 120.5 | 3,125.2 | 68.7 | 45.3 |
| Tanla Platforms | 494.45 | 12.3 | 6,558 | 2.45 | 142.2 | 20.1 | 1,226.4 | 17.9 | 26.3 |
| C.E. Info System | 896.70 | 35.6 | 4,915 | 0.39 | 49.7 | 7.9 | 139.7 | 14.9 | 19.1 |
| Capillary Tech. | 561.05 | 87.1 | 4,465 | 0.00 | -9.6 | 2949.3 | 256.6 | 42.7 | 3.4 |
| Technvision Ven. | 4,350.00 | 910.6 | 2,732 | 0.00 | 2.8 | 9300.0 | 73.6 | 29.9 | 13.6 |
| Mobavenue AI Tech | 293.00 | 64.7 | 2,265 | 0.10 | 11.7 | 94.3 | 72.9 | 57.0 | 71.6 |
| Ramco Systems | 550.95 | 32.9 | 2,073 | 0.00 | 0.6 | -36.2 | 172.8 | 7.1 | 19.7 |
| Median | 138.68 | 30.9 | 465 | 0.00 | 3.6 | 15.8 | 56.0 | 18.8 | 13.9 |
Competes with: ABM Knowledgeware Limited, AION-TECH SOLUTIONS LIMITED, Avance Technologies Limited, Blue Cloud Softech Solutions Limited, C.E. Info Systems Limited, Capillary Technologies India Limited, IRIS RegTech Solutions Limited, Nucleus Software Exports Limited, Quick Heal Technologies Limited, Ramco Systems Limited, Subex Limited, Tanla Platforms Limited, TechNVision Ventures Limited, Unicommerce Esolutions Limited, Virinchi Limited, Xelpmoc Design And Tech Limited
Quarterly results
Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.
| Line item | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,462 | 1,444 | 1,824 | 1,642 | 1,741 | 1,674 | 1,715 | 1,716 | 1,852 | 1,789 | 1,966 | 2,065 | 3,125 |
| Expenses | 841 | 886 | 955 | 908 | 894 | 923 | 1,001 | 952 | 1,006 | 1,034 | 1,146 | 1,009 | 1,249 |
| Material Cost | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
| Change in Inventories | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
| Purchases of Stock-in-Trade | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
| Employee Cost | 811 | 839 | 815 | 957 | 823 | 1,075 | |||||||
| Other Expenses | 141 | 167 | 219 | 189 | 186 | 173 | |||||||
| Operating Profit | 622 | 558 | 868 | 734 | 847 | 751 | 714 | 765 | 846 | 755 | 820 | 1,056 | 1,876 |
| OPM % | 43 | 39 | 48 | 45 | 49 | 45 | 42 | 45 | 46 | 42 | 42 | 51 | 60 |
| Other Income | 101 | 65 | 94 | 82 | 48 | 105 | 70 | 82 | 72 | 66 | 60 | 71 | 78 |
| Exceptional items (within Other Income) | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
| Interest | -3 | 8 | 9 | 14 | 5 | 8 | -3 | -9 | -4 | 8 | 7 | -8 | 1 |
| Depreciation | 18 | 19 | 19 | 18 | 18 | 18 | 17 | 17 | 18 | 16 | 16 | 15 | 15 |
| Profit before tax | 707 | 596 | 934 | 785 | 873 | 829 | 770 | 839 | 905 | 797 | 857 | 1,120 | 1,939 |
| Tax % | 29 | 30 | 21 | 29 | 29 | 30 | 30 | 23 | 29 | 32 | 29 | 25 | 27 |
| Net Profit | 501 | 417 | 741 | 560 | 617 | 578 | 541 | 644 | 642 | 546 | 610 | 842 | 1,416 |
| EPS in Rs | 58 | 48 | 86 | 65 | 71 | 67 | 62 | 74 | 74 | 63 | 70 | 97 | 163 |
| Diluted EPS in Rs | 74 | 74 | 63 | 70 | 96 | 162 |
Profit & loss
Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.
| Line item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 3,905 | 4,131 | 4,427 | 4,527 | 4,959 | 4,861 | 4,984 | 5,221 | 5,698 | 6,373 | 6,847 | 7,672 | 8,945 |
| Expenses | 2,354 | 2,520 | 2,693 | 2,716 | 2,814 | 2,633 | 2,515 | 2,723 | 3,227 | 3,590 | 3,770 | 4,195 | 4,438 |
| Material Cost | 0 | 0 | |||||||||||
| Change in Inventories | 0 | 0 | |||||||||||
| Purchases of Stock-in-Trade | 0 | 0 | |||||||||||
| Employee Cost | 3,205 | 3,434 | |||||||||||
| Other Expenses | 566 | 761 | |||||||||||
| Operating Profit | 1,551 | 1,612 | 1,734 | 1,811 | 2,145 | 2,229 | 2,469 | 2,499 | 2,471 | 2,782 | 3,076 | 3,477 | 4,508 |
| OPM % | 40 | 39 | 39 | 40 | 43 | 46 | 50 | 48 | 43 | 44 | 45 | 45 | 50 |
| Other Income | 348 | 189 | 93 | 91 | 176 | 177 | 132 | 134 | 192 | 342 | 304 | 271 | 276 |
| Exceptional items (within Other Income) | 0 | 0 | |||||||||||
| Interest | 0 | 0 | 0 | 0 | 0 | 47 | 19 | 12 | 13 | 28 | 0 | 2.50 | 8 |
| Depreciation | 68 | 53 | 70 | 61 | 54 | 106 | 104 | 93 | 81 | 74 | 69 | 65 | 62 |
| Profit before tax | 1,831 | 1,748 | 1,757 | 1,840 | 2,267 | 2,252 | 2,477 | 2,528 | 2,570 | 3,022 | 3,311 | 3,680 | 4,713 |
| Tax % | 35 | 40 | 33 | 33 | 39 | 35 | 29 | 25 | 30 | 27 | 28 | 28 | |
| Net Profit | 1,192 | 1,049 | 1,185 | 1,237 | 1,386 | 1,462 | 1,762 | 1,889 | 1,806 | 2,219 | 2,380 | 2,639 | 3,413 |
| EPS in Rs | 141 | 124 | 139 | 145 | 162 | 170 | 205 | 219 | 209 | 256 | 274 | 303 | 392 |
| Diluted EPS in Rs | 273 | 302 | |||||||||||
| Dividend Payout % | 472 | 81 | 122 | 90 | 0 | 106 | 98 | 87 | 108 | 94 | 97 | 132 |
Compounded growth
Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.
Compounded sales growth
- 10 years
- 6%
- 5 years
- 9%
- 3 years
- 10%
- TTM
- 29%
Compounded profit growth
- 10 years
- 9%
- 5 years
- 8%
- 3 years
- 13%
- TTM
- 42%
Stock price CAGR
- 10 years
- 12%
- 5 years
- 17%
- 3 years
- 37%
- 1 year
- 15%
Return on equity
- 10 years
- 28%
- 5 years
- 29%
- 3 years
- 30%
- Last year
- 33%
Balance sheet
What the company owns and what it owes, at the end of each year. ₹ crore.
| Line item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 42 | 42 | 42 | 43 | 43 | 43 | 43 | 43 | 43 | 43 | 43 | 44 |
| Reserves | 3,402 | 4,632 | 3,222 | 4,665 | 4,894 | 6,527 | 6,806 | 7,057 | 7,416 | 7,816 | 8,319 | 7,783 |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 115 | 70 | 83 | 69 | 43 | 46 | 32 |
| Other Liabilities | 2,825 | 1,011 | 2,756 | 1,225 | 1,192 | 1,236 | 1,234 | 1,409 | 1,590 | 1,848 | 1,659 | 2,017 |
| Minority Interest | 0 | 0 | ||||||||||
| Total Liabilities | 6,269 | 5,685 | 6,020 | 5,933 | 6,128 | 7,920 | 8,153 | 8,592 | 9,119 | 9,749 | 10,067 | 9,876 |
| Fixed Assets | 911 | 865 | 870 | 837 | 864 | 963 | 884 | 871 | 847 | 805 | 796 | 782 |
| CWIP | 0 | 5 | 1 | 3 | 0 | 0 | 0 | 4 | 1 | 3 | 9 | 16 |
| Investments | 0 | 10 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 5,357 | 4,805 | 5,150 | 5,093 | 5,264 | 6,957 | 7,268 | 7,717 | 8,271 | 8,942 | 9,262 | 9,078 |
| Total Assets | 6,269 | 5,685 | 6,020 | 5,933 | 6,128 | 7,920 | 8,153 | 8,592 | 9,119 | 9,749 | 10,135 | 9,934 |
Cash flows
Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.
| Line item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 1,060 | 712 | 1,121 | 1,157 | 1,380 | 1,522 | 1,920 | 1,856 | 1,758 | 1,791 | 2,199 | 2,638 |
| Cash from Investing Activity | 3,701 | 1,018 | 1,823 | -1,313 | 220 | -1,299 | 34 | -138 | 267 | 1,611 | -2,372 | 1,085 |
| Cash from Financing Activity | -4,690 | -1,776 | -931 | -1,630 | -1,250 | -47 | -1,590 | -1,733 | -1,665 | -1,958 | -2,096 | -3,449 |
| Net Cash Flow | 72 | -45 | 2,013 | -1,785 | 350 | 175 | 363 | -15 | 360 | 1,443 | -2,269 | 274 |
| Free Cash Flow | 1,047 | 686 | 1,064 | 1,127 | 1,303 | 1,472 | 1,903 | 1,820 | 1,720 | 1,761 | 2,164 | 2,587 |
Ratios
How fast customers pay, how long stock sits, and how well capital earns — year by year.
| Line item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 56 | 73 | 59 | 81 | 70 | 69 | 59 | 65 | 69 | 76 | 63 | 64 |
| Cash Conversion Cycle | 56 | 73 | 59 | 81 | 70 | 69 | 59 | 65 | 69 | 76 | 63 | 64 |
| Working Capital Days | -151 | 41 | -112 | 41 | 32 | 40 | 36 | 37 | 39 | 48 | 45 | 37 |
| ROCE % | 30 | 44 | 46 | 46 | 47 | 40 | 37 | 36 | 35 | 40 | 41 | 45 |
Price trend
The price as a Renko brick chart: small moves drop out so the bigger path stands out.
Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.
Open interestPRO
Where option traders are positioned on this stock.
Industry numbers
The numbers that matter most in this industry, from the company's own filings.
1 when an audit qualification is filed as repetitive
0.00flag
2026-03-31
the company's own unlisted debt securities in default at period end
0.00cr
2026-06-30
the company's own loans / revolving facilities in default at period end (standalone filing)
0.00cr
2026-06-30
net debt from the filed balance sheet at the newest year end: Borrowings − Cash Equivalents − Investments (Current); negative = net cash
-5,478inr_cr
2026-03-31
guarantees / comfort given for promoter, promoter group, directors and KMP
0.00cr
2026-03-31
loans outstanding to promoter, promoter group, directors and KMP (governance filing)
0.00cr
2026-03-31
security given for the borrowing of promoter, promoter group, directors and KMP
0.00cr
2026-03-31
FY revenue / permanent employees + workers, same basis (calc)
68,48,808inr
2026-03-31
News
News and filings about Oracle Financial Services Software Limited. Open one to see why it matters.
22 Sept, 16:09 IST · Company event · low impact
The Exchange has sought clarification from Oracle Financial Services Software Limited with respect to recent news item captioned OFSS shares fall 6.5% as report says Oracle's $18-billion data centre debt under pressure. The response from the Company is attached.
21 Sept, 18:05 IST · Company event · low impact
The Exchange has sought clarification from Oracle Financial Services Software Limited with respect to recent news item captioned OFSS shares fall 6.5% as report says Oracle's $18-billion data centre debt under pressure. The response from the Company is awaited.
Supply chain
Who it buys from, sells to and competes with — as recorded in our map of company links.
Competes with
- ABM Knowledgeware Limited
- AION-TECH SOLUTIONS LIMITED
- Avance Technologies Limited
- Blue Cloud Softech Solutions Limited
- C.E. Info Systems Limited
- Capillary Technologies India Limited
- IRIS RegTech Solutions Limited
- Nucleus Software Exports Limited
- Quick Heal Technologies Limited
- Ramco Systems Limited
- Subex Limited
- Tanla Platforms Limited
- TechNVision Ventures Limited
- Unicommerce Esolutions Limited
- Virinchi Limited
- Xelpmoc Design And Tech Limited
About
What the company is, from our own records: where it sits, where it makes things, and what it is made of.
- Sector
- Information Technology
- Industry
- Software Products
- Classification
- Information Technology › Software Products
- ISIN
- INE881D01027
Business segments
- Product licenses and related activities · 91%
- IT solutions and consulting services · 10%
News impact
Big market events that reach Oracle Financial Services Software Limited, and how the effect spreads.
30 Sept, 00:07 IST · Market event · high impact
US tightens H-1B rules again: How new fees and layoff scrutiny could affect Indian tech workers
The US added a $100,000 H-1B fee plus tougher checks, raising costs for Indian IT firms like Tata Consultancy Services and Infosys and hurting margins, with no clear winners.
Who it hits first
- The US has added a $100000 payment for certain new H-1B (US work visa) hires from abroad, plus extra employer fees, closer checks when US staff are laid off, and tougher enforcement.
- Tata Consultancy Services, Infosys and Wipro — India's large IT services firms that send engineers to work at US client offices — now pay more for each US placement and wait longer for approvals.
- H-1B sign-ups are already falling as firms move work to India or hire locally in America, which trims profit margins (profit left per rupee of sales) for the most US-linked firms.
Who may gain
- No clear winner among Indian IT firms — this is a cost rise for US-linked work, not new demand, so domestic cloud and software names only avoid the hit rather than gain.
Along the supply chain
Downstream
Big bank buyers of IT work such as State Bank of India and ICICI Bank, which hire Tata Consultancy Services and Infosys to run software, see no direct change — projects continue, just delivered more from India.
Upstream
Vendors that serve the big IT firms — Prestige Estates which rents office space, Tata Communications which provides network links, and staffing and facility helpers — see slower growth in US-site support as hiring tilts to India.
Where demand moves
Business
Client demand for software work does not grow or shrink — the same US projects simply cost more when they need staff on American sites, so more coding and support shifts to Indian delivery centres.
Capital
Investors grow cautious on export-heavy IT shares as margins look thinner, so money pauses or drifts to domestic-focused software names until firms show how much of the fee clients will bear.
How it spreads across sectors
Information Technology
Export-heavy IT services face higher US staffing costs and near-term margin pressure, while domestic software, map and cloud names feel only brief sentiment selling.
When it plays out
Immediate
In the next few days IT shares wobble and H-1B filings slow further as firms pause US hires.
Medium term
Over the next few months delivery settles with more offshore work and local US recruits, leaving a lasting small margin drag for the most US-exposed firms.
Short term
Over the next few weeks firms spell out extra costs, add Indian and US local hiring, and accept slightly thinner margins.
27 Jun, 18:50 IST · Market event · medium impact
Oracle lays off 500 more employees including India workforce, part of 30,000-employee reduction
Who it hits first
- OFSS (Oracle Financial Services Software, ~72.4% Oracle-owned) carries a negative sentiment overhang from the parent's 30,000-employee reduction that includes India workforce
- No direct contract or revenue loss — Oracle's layoffs are a cloud-reorg cost action, not an OFSS demand event; OFSS's FLEXCUBE licensing book is structurally unchanged
Who may gain
- Core-banking-software competitors (Intellect Design, Nucleus Software, TCS BaNCS) could see a marginal long-term competitive opening only if Oracle product investment slows — speculative, no near-term catalyst
Along the supply chain
Downstream
OFSS's downstream banking-software customers (global banks running FLEXCUBE) face no service disruption from a 500-person parent layoff; delivery continuity is intact.
Upstream
No India-listed upstream supplier is disrupted — Oracle's layoffs are an internal parent cost action; OFSS's vendor and infrastructure chain is unaffected.
Where demand moves
Business
No business demand shift — the event is an Oracle internal headcount reduction, not a contract win/loss; OFSS's order book and FLEXCUBE banking-software licensing demand are structurally unchanged.
Capital
Mild capital-flow drag only — negative parent-layoff headlines may prompt brief profit-booking in OFSS, but with low beta (0.43) and a debt-free balance sheet institutional holders are likely to hold rather than rotate out.
How it spreads across sectors
Information Technology
Negligible sector-wide ripple — Oracle's reorg is company-specific; broader Indian IT services demand (TCS, Infosys, Wipro) is not materially affected by a 500-person parent layoff.
When it plays out
Immediate
Possible mild headline-driven dip in OFSS (1-3%) on the layoff news; low-beta name, limited downside.
Medium term
Direction set by OFSS Q1 FY27 results and FLEXCUBE deal momentum, not by parent layoffs; structurally strong, cash-rich profile intact.
Short term
Sentiment fades within days-to-weeks as OFSS reports on its own FLEXCUBE-driven fundamentals; watch for any India-specific OFSS restructuring disclosure.
21 Jun, 04:14 IST · Market event · high impact
Accenture warns of AI-driven revenue slowdown; 20% stock fall triggers Indian IT crash (Nifty IT -6.5%, Sensex -607 pts)
Who it hits first
- TCS, INFY, WIPRO, HCLTECH, TECHM, LTIM, PERSISTENT, COFORGE, MPHASIS, LTTS — Friday Jun 19 Nifty IT -6.5%
- INFY -8.5%, TECHM -7%, TCS -6.5%, HCLTECH -6%, WIPRO -4.3%
- Aggregate market-cap erosion ~Rs 1.35-2 lakh crore from IT names alone
Who may gain
- AI-native services (HAPPSTMNDS, RATEGAIN) — narrative beneficiaries of budget shift
- AI infrastructure (NETWEB, GPU servers, data-centre power) — picks-and-shovels
- GCC players — Indian Global Capability Centre operators that compete with consulting
Along the supply chain
Downstream
BFSI / global enterprise clients save on consulting fees in near term but spend more on AI software licenses (vendors like Microsoft, Google capture share that consulting firms lose).
Upstream
Indian IT firms employ ~5 million professionals — hiring freezes and reduced fresher intake hits staffing firms (TEAMLEASE, QUESS) and IT-services campus pipeline.
Where demand moves
Business
Enterprise IT budgets reallocate from consulting-heavy SI work → AI infrastructure (compute, GPUs, data centre power); demand shifts from labour-arbitrage services to capex-heavy hardware + AI productivity tools.
Capital
Money exits mid-cap high-PE IT (PERSISTENT, COFORGE, KPITTECH) → rotates to cheap large-cap IT (TCS, INFY at sub-16x PE), defensive FMCG (HUL, ITC), and AI infrastructure picks-and-shovels (electrical equipment, data-centre power).
How it spreads across sectors
Information Technology
Direct sector hit — sustained margin compression risk; multiple compression for high-PE names
Real Estate
Bengaluru, Hyderabad, Pune commercial RE demand softens (IT companies are largest tenants)
Staffing
TEAMLEASE, QUESS — IT-staffing volume contracts
codex additions
- Telecom/Digital Infra: BHARTIARTL, INDUSTOWER — mixed; AI compute drives data demand offset by IT cost controls
- Power & Utilities: NTPC, TATAPOWER, POWERGRID — positive; data centre power demand rises
- Electrical Equipment: ABB, SIEMENS, CGPOWER — positive; data centre transformer/switchgear orders
- Consumer Discretionary: TRENT, TITAN, JUBLFOOD — small negative; IT-employee discretionary spend in tech hubs softens
- Auto: MARUTI, M&M — small negative; tech-professional vehicle upgrade postponement
- Travel/Hospitality: INDIGO, LEMONTREE — small negative; business travel and onsite assignment cuts
- Education: NIITLTD, APTECHT, VERANDA — mixed; reskilling demand offset by corporate training cuts
When it plays out
Immediate
Monday Jun 22 open: continued selling pressure in IT; high-PE names hit hardest (PERSISTENT, COFORGE -3-5% likely); large-caps TCS/INFY may see -1-2% with bargain-hunting
Medium term
Structural re-rating of consulting-heavy IT (1-6 months): if AI productivity gains are real, sector PE compresses from 25 → 18-20 over 2-3 quarters; survivors are product-led (OFSS), AI-native (rare), or hyper-efficient large-caps (TCS)
Short term
Q1 FY27 results July 17-25 (TCS, INFY, WIPRO) — focus on Q1 USD revenue growth + FY27 guidance commentary; AI-disruption thesis tested live
Other sectors it reaches
- {"causal_chain":"IT vendors face weaker volumes → AI-led productivity programs → hiring freezes, lower fresher intake → reduced staffing demand","direction":"negative","example_tickers":["TEAMLEASE","QUESS","SIS"],"magnitude":"large","notes":"Contract staffing and IT-focused recruitment firms direct sensitivity","sector":"Staffing and Recruitment","time_horizon":"1_to_4_weeks"}
- {"causal_chain":"AI adoption shifts client budgets from traditional consulting → cloud connectivity / edge infra → higher carriers/tower demand offset by IT cost controls","direction":"mixed","example_tickers":["BHARTIARTL","INDUSTOWER","TATACOMM"],"magnitude":"medium","notes":"Depends on AI infra investment exceeding conventional enterprise tech cuts","sector":"Telecom and Digital Infrastructure","time_horizon":"1_to_6_months"}
- {"causal_chain":"Enterprise AI adoption increases data-centre / cloud-compute workloads → electricity demand and renewable PPAs rise","direction":"positive","example_tickers":["NTPC","TATAPOWER","POWERGRID"],"magnitude":"medium","notes":"Gradual; PPAs take time","sector":"Power and Utilities","time_horizon":"1_to_6_months"}
- {"causal_chain":"Consulting spend redirected → data-centre expansion → transformers, switchgear, cooling orders","direction":"positive","example_tickers":["ABB","SIEMENS","CGPOWER"],"magnitude":"medium","notes":"Picks-and-shovels","sector":"Electrical Equipment / Data-Centre Infra","time_horizon":"1_to_6_months"}
- {"causal_chain":"IT layoffs/slower wage growth → reduced discretionary spend in tech-heavy urban markets","direction":"negative","example_tickers":["TRENT","TITAN","JUBLFOOD"],"magnitude":"medium","notes":"Concentrated in BLR/HYD/Pune/Chennai/NCR","sector":"Consumer Discretionary and Retail","time_horizon":"1_to_6_months"}
- {"causal_chain":"Lower bonuses/hiring uncertainty → postponement of vehicle upgrades and financed purchases","direction":"negative","example_tickers":["MARUTI","M\u0026M","EICHERMOT"],"magnitude":"small","notes":"Limited unless layoffs broaden","sector":"Passenger Vehicles and Two-Wheelers","time_horizon":"1_to_6_months"}
- {"causal_chain":"Consulting cost-controls → fewer onsite assignments / conferences → business travel demand drops","direction":"negative","example_tickers":["INDIGO","LEMONTREE","EIHOTEL"],"magnitude":"small","notes":"Hotels in tech corridors more exposed","sector":"Travel, Aviation and Hospitality","time_horizon":"1_to_6_months"}
- {"causal_chain":"AI-driven role displacement → demand for AI/data/cloud credentials rises; legacy training falls","direction":"mixed","example_tickers":["NIITLTD","APTECHT","VERANDA"],"magnitude":"medium","notes":"Consumer-funded reskilling benefits; corporate-funded suffers","sector":"Education and Professional Reskilling","time_horizon":"1_to_6_months"}
- {"causal_chain":"IT vendors protect margins → marketing/sponsorship cut → corporate advertising weakens","direction":"negative","example_tickers":["ZEEL","SUNTV","NAZARA"],"magnitude":"small","notes":"Incremental, not systemic","sector":"Media and Advertising","time_horizon":"1_to_4_weeks"}
Dividends, splits & big trades
Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.
Dividends
| 7 May 2026 | interim | ₹270 |
|---|---|---|
| 3 Nov 2025 | interim | ₹130 |
| 8 May 2025 | interim | ₹265 |
| 7 May 2024 | interim | ₹240 |
| 9 May 2023 | interim | ₹225 |
| 13 May 2022 | interim | ₹190 |
| 17 May 2021 | interim | ₹200 |
| 19 May 2020 | interim | ₹180 |
Splits, bonuses & buybacks
- daily-prices repair: 9 rows from NSE's archive (replace 1, delete 1, insert 7), 2016-10-30..2026-02-01 (docs/flat_day_repair.md)1× · 30 Oct 2016
Bulk & block deals
| Date | Who | Bought / sold | Shares | Price |
|---|---|---|---|---|
| 23 Jul 2026 | GRAVITON RESEARCH CAPITAL LLP | SELL | 4,56,552 | ₹10,690.51 |
| 23 Jul 2026 | GRAVITON RESEARCH CAPITAL LLP | BUY | 4,52,652 | ₹10,683.71 |
Documents
Annual reports, results presentations and earnings calls, straight from the source.
- Annual report · 2025-2625 Jun 2026
Facts from company filings and exchange data. Not investment advice: nothing here tells you to buy or sell.