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Last Updated: April 2, 2026, 2:47 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 532541 | NSE: COFORGE

Coforge Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹822.85Overvalued by 28.70%vs CMP ₹1,154.00

P/E (30.8) × ROE (16.0%) × BV (₹206.00) × DY (1.32%)

₹544.80Overvalued by 52.79%vs CMP ₹1,154.00
MoS: -111.8% (Negative)Confidence: 68/100 (Moderate)Models: All 9: Overvalued
ModelCategoryValueWeightSignal
PE-ROEEarnings₹911.1822%Over (-21%)
Graham NumberEarnings₹409.5016%Over (-64.5%)
Earnings PowerEarnings₹178.9013%Over (-84.5%)
DCFCash Flow₹677.5013%Over (-41.3%)
Net Asset ValueAssets₹205.347%Over (-82.2%)
EV/EBITDAEnterprise₹729.419%Over (-36.8%)
Earnings YieldEarnings₹361.807%Over (-68.6%)
ROCE CapitalReturns₹459.409%Over (-60.2%)
Revenue MultipleRevenue₹538.345%Over (-53.4%)
Consensus (9 models)₹544.80100%Overvalued
Key Drivers: Wide model spread (₹179–₹911) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 10.7%

*Investments are subject to market risks

Investment Snapshot

79
Coforge Ltd scores 79/100 (Strong)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health87/100 · Strong
ROCE 20.3% ExcellentROE 16.0% GoodD/E 0.00 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money45/100 · Moderate
FII holding down -5.68% (6mo) SellingDII holding up 3.74% MF buyingPromoter holding at 0.0% Stable
Earnings Quality60/100 · Moderate
OPM stable around 15% SteadyWorking capital: 18 days (improving) Efficient
Quarterly Momentum100/100 · Strong
Revenue (4Q): +39% YoY AcceleratingProfit (4Q): +61% YoY StrongOPM: 17.0% (up 4.0% YoY) Margin expansion
Industry Rank90/100 · Strong
P/E 30.8 vs industry 98.1 Cheaper than peersROCE 20.3% vs industry 14.9% Above peers3Y sales CAGR: 23% High growth

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 2:47 am

Market Cap 38,749 Cr.
Current Price 1,154
Intrinsic Value₹544.80
High / Low 1,994/1,008
Stock P/E30.8
Book Value 206
Dividend Yield1.32 %
ROCE20.3 %
ROE16.0 %
Face Value 2.00
PEG Ratio2.87

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Coforge Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Coforge Ltd 38,749 Cr. 1,154 1,994/1,00830.8 2061.32 %20.3 %16.0 % 2.00
KPIT Technologies Ltd 18,486 Cr. 674 1,434/62524.3 1191.26 %40.0 %32.5 % 10.0
Oracle Financial Services Software Ltd 59,906 Cr. 6,883 9,950/6,23224.5 8473.85 %40.6 %29.3 % 5.00
Birlasoft Ltd 9,773 Cr. 350 474/32020.0 1331.86 %21.0 %15.6 % 2.00
Intellect Design Arena Ltd 8,882 Cr. 636 1,255/55523.5 2120.63 %16.8 %12.7 % 5.00
Industry Average17,316.11 Cr418.4898.13120.780.77%14.90%21.00%6.77

All Competitor Stocks of Coforge Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 2,0562,1702,2212,2762,3232,3182,3573,0263,2583,4103,6893,9864,188
Expenses 1,6961,8741,9151,9351,9281,9292,0482,6032,8232,8833,1123,2533,458
Operating Profit 360296306341395390309423435527577732730
OPM % 17%14%14%15%17%17%13%14%13%15%16%18%17%
Other Income 32-50169151464256336438-134
Interest 22202232353732303240464142
Depreciation 62727677817972114116125159172171
Profit before tax 307155224241294288211320343395436558384
Tax % 23%25%22%22%18%20%34%27%25%22%18%24%23%
Net Profit 236117176188243229139234256307356425297
EPS in Rs 7.473.765.415.887.717.243.996.066.457.999.4911.237.47

Last Updated: February 6, 2026, 7:16 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: March 26, 2026, 5:30 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 2,3052,3722,6882,8022,9913,6764,1844,6636,4328,0159,00912,05115,272
Expenses 1,9502,0362,2142,3222,4893,0263,4593,8825,3306,7337,56210,35712,706
Operating Profit 3553374744805026507257811,1021,2821,4471,6942,567
OPM % 15%14%18%17%17%18%17%17%17%16%16%14%17%
Other Income 30-6420438465913528321372
Interest 46869916146581126135168
Depreciation 6292121128127125173184227258297428627
Profit before tax 3181763653514045625955968629511,0561,2691,773
Tax % 25%31%21%22%24%25%21%22%17%22%21%26%
Net Profit 2381222872723094224684667157458369361,386
EPS in Rs 7.603.748.838.159.1213.0614.2115.0421.7322.7226.1424.2936.18
Dividend Payout % 24%51%23%31%33%0%44%17%48%56%58%63%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-48.74%135.25%-5.23%13.60%36.57%10.90%-0.43%53.43%4.20%12.21%11.96%
Change in YoY Net Profit Growth (%)0.00%183.99%-140.47%18.83%22.97%-25.67%-11.33%53.86%-49.24%8.02%-0.25%

Coforge Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:18%
5 Years:24%
3 Years:23%
TTM:45%
Compounded Profit Growth
10 Years:18%
5 Years:13%
3 Years:7%
TTM:23%
Stock Price CAGR
10 Years:34%
5 Years:35%
3 Years:35%
1 Year:34%
Return on Equity
10 Years:20%
5 Years:21%
3 Years:21%
Last Year:16%

Last Updated: September 5, 2025, 2:05 am

Balance Sheet

Last Updated: December 4, 2025, 1:07 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 61616161626262616161626767
Reserves 1,2631,2961,5111,6251,7122,0102,3342,4062,6723,0213,5656,3126,828
Borrowings 991025221435834905627261,070972
Other Liabilities 4686117026958287489689351,6551,9801,7084,8235,724
Total Liabilities 1,8011,9772,2852,4072,6242,8343,4003,4844,8785,6256,06112,27213,590
Fixed Assets 4535589038488798191,0791,0212,0672,3122,3536,0967,091
CWIP 129120170110017523217
Investments 555575316365365141200014641
Other Assets 1,1641,2431,2911,2441,3791,6492,3072,4512,7943,3093,6856,0286,441
Total Assets 1,8011,9772,2852,4072,6242,8343,4003,4844,8785,6256,06112,27213,590

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 1452583604723824532977627669509031,237
Cash from Investing Activity + -78-184-223-343-248-237136-86-963-269-265-2,438
Cash from Financing Activity + -53-66-73-67-74-106-133-696-156-558-8871,675
Net Cash Flow 147646260109300-20-353123-249474
Free Cash Flow 771200387294385227687618797644680
CFO/OP 70%104%97%120%98%88%66%119%93%96%88%96%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow346.00328.00464.00455.00480.00636.00690.00698.00-489.00-561.00-725.000.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 899380617158758479737378
Inventory Days 12
Days Payable 361
Cash Conversion Cycle -2609380617158758479737378
Working Capital Days 704864383037383333133018
ROCE %26%19%25%23%23%30%27%25%32%31%29%20%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 30.16%26.63%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
FIIs 25.40%24.78%34.37%34.04%35.00%41.43%42.09%42.55%40.21%37.42%34.09%34.53%
DIIs 32.20%37.20%54.28%55.02%54.29%47.29%48.15%47.86%49.93%52.32%54.87%53.67%
Public 12.23%11.39%11.35%10.95%10.69%11.28%9.75%9.58%9.86%10.25%11.03%11.80%
No. of Shareholders 1,46,6851,33,6461,23,3301,17,8441,26,7391,63,3571,37,7681,37,1701,44,1751,85,8652,23,4922,43,366

Shareholding Pattern Chart

No. of Shareholders

Coforge Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Motilal Oswal Midcap Fund 20,000,000 9.61 3307.619,750,0002026-02-23 06:56:441.27%
HDFC Mid Cap Fund 15,620,600 2.8 2583.33N/AN/AN/A
Motilal Oswal Flexi Cap Fund 7,500,000 9.41 1240.356,863,8782025-12-15 04:53:439.27%
DSP Mid Cap Fund 4,941,275 4.29 817.19N/AN/AN/A
UTI Flexi Cap Fund 4,536,000 3.19 750.164,403,0002026-02-23 06:56:443.02%
ICICI Prudential Technology Fund 3,347,060 3.59 553.542,897,0602026-02-23 06:56:4415.53%
Axis Midcap Fund 2,832,686 1.52 468.472,941,1852026-02-23 06:56:44-3.69%
ICICI Prudential India Opportunities Fund 2,553,607 1.2 422.32N/AN/AN/A
HSBC Midcap Fund 2,377,694 3.23 393.222,138,0002026-01-26 03:06:4411.21%
DSP Large & Mid Cap Fund 2,203,203 2.09 364.37N/AN/AN/A

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 123.01131.56113.77109.0274.68
Diluted EPS (Rs.) 122.03131.56111.53106.5273.29
Cash EPS (Rs.) 203.84186.76164.26154.66107.19
Book Value[Excl.RevalReserv]/Share (Rs.) 953.54586.83518.80464.93406.95
Book Value[Incl.RevalReserv]/Share (Rs.) 953.54586.83518.80464.93406.95
Revenue From Operations / Share (Rs.) 1801.301485.281311.721056.16769.44
PBDIT / Share (Rs.) 277.79240.95219.74189.44134.01
PBIT / Share (Rs.) 213.87189.40177.43152.13103.71
PBT / Share (Rs.) 193.74169.08155.68141.4698.38
Net Profit / Share (Rs.) 139.93135.21121.95117.3676.90
NP After MI And SOA / Share (Rs.) 121.39130.74113.55108.6575.18
PBDIT Margin (%) 15.4216.2216.7517.9317.41
PBIT Margin (%) 11.8712.7513.5214.4013.47
PBT Margin (%) 10.7511.3811.8613.3912.78
Net Profit Margin (%) 7.769.109.2911.119.99
NP After MI And SOA Margin (%) 6.738.808.6510.289.77
Return on Networth / Equity (%) 12.7322.2722.5024.2118.47
Return on Capital Employeed (%) 14.7325.5727.4824.5423.53
Return On Assets (%) 6.5013.2212.2013.3512.96
Long Term Debt / Equity (X) 0.000.090.100.120.00
Total Debt / Equity (X) 0.100.120.100.120.00
Asset Turnover Ratio (%) 1.301.560.960.980.84
Current Ratio (X) 1.711.701.501.882.53
Quick Ratio (X) 1.711.701.501.882.53
Dividend Payout Ratio (NP) (%) 61.3257.7450.9847.6815.07
Dividend Payout Ratio (CP) (%) 40.1741.4137.1435.4910.74
Earning Retention Ratio (%) 38.6842.2649.0252.3284.93
Cash Earning Retention Ratio (%) 59.8358.5962.8664.5189.26
Interest Coverage Ratio (X) 13.8011.8616.6617.7556.79
Interest Coverage Ratio (Post Tax) (X) 8.157.6510.8912.0034.85
Enterprise Value (Cr.) 55947.7434184.9023170.6027122.6416939.86
EV / Net Operating Revenue (X) 4.643.722.894.223.63
EV / EBITDA (X) 30.1122.9617.2623.5120.86
MarketCap / Net Operating Revenue (X) 4.503.702.914.223.81
Retention Ratios (%) 38.6742.2549.0152.3184.92
Price / BV (X) 8.499.377.579.927.20
Price / Net Operating Revenue (X) 4.503.702.914.223.81
EarningsYield 0.010.020.020.020.02

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Coforge Ltd. is a Public Limited Listed company incorporated on 13/05/1992 and has its registered office in the State of Delhi, India. Company's Corporate Identification Number(CIN) is L72100DL1992PLC048753 and registration number is 048753. Currently Company is involved in the business activities of Writing , modifying, testing of computer program to meet the needs of a particular client excluding web-page designing. Company's Total Operating Revenue is Rs. 5557.00 Cr. and Equity Capital is Rs. 66.90 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
IT Consulting & SoftwarePlot No. 13, Udyog Vihar, Phase-IV, Sector-18, Gurugram Haryana 122015Contact not found
Management
NamePosition Held
Mr. Om Prakash BhattChairman & Ind.Dire (Non-Exe)
Mr. Sudhir SinghExecutive Director & CEO
Mr. Gautam SamantaExecutive Director
Mr. D K SinghInd. Non-Executive Director
Ms. Mary Beth BoucherInd. Non-Executive Director
Mr. Anil ChananaInd. Non-Executive Director

FAQ

What is the intrinsic value of Coforge Ltd and is it undervalued?

As of 19 April 2026, Coforge Ltd's intrinsic value is ₹544.80, which is 52.79% lower than the current market price of ₹1,154.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (16.0 %), book value (₹206), dividend yield (1.32 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Coforge Ltd?

Coforge Ltd is trading at ₹1,154.00 as of 19 April 2026, with a FY2026-2027 high of ₹1,994 and low of ₹1,008. The stock is currently near its 52-week low. Market cap stands at ₹38,749 Cr..

How does Coforge Ltd's P/E ratio compare to its industry?

Coforge Ltd has a P/E ratio of 30.8, which is below the industry average of 98.13. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Coforge Ltd financially healthy?

Key indicators for Coforge Ltd: ROCE of 20.3 % indicates efficient capital utilization; ROE of 16.0 % shows strong shareholder returns. Dividend yield is 1.32 %.

Is Coforge Ltd profitable and how is the profit trend?

Coforge Ltd reported a net profit of ₹936 Cr in Mar 2025 on revenue of ₹12,051 Cr. Compared to ₹715 Cr in Mar 2022, the net profit shows an improving trend.

Does Coforge Ltd pay dividends?

Coforge Ltd has a dividend yield of 1.32 % at the current price of ₹1,154.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Coforge Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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