Coforge Ltd: Intrinsic Value & Share Price Analysis

Share Price and Basic Stock Data

Last Updated: April 16, 2025, 11:15 pm

Market Cap	42,886 Cr.
Current Price	6,408
High / Low	10,027/4,287
Stock P/E	56.0
Book Value	894
Dividend Yield	1.19 %
ROCE	28.6 %
ROE	24.1 %
Face Value	10.0
PEG Ratio	5.86

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

Stock P/E Current Price Intrinsic Value

View Share Price Target for Coforge Ltd

Competitors of Coforge Ltd

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
Visesh Infotecnics Ltd	125 Cr.	0.33	0.52/0.33		1.14	0.00 %	0.88 %	0.82 %	1.00
Mudunuru Ltd	18.4 Cr.	5.89	15.5/5.33		0.34	0.00 %	72.9 %	374 %	2.00
Naapbooks Ltd	126 Cr.	118	159/54.0	54.2	20.0	0.00 %	17.4 %	13.6 %	10.0
IB Infotech Enterprises Ltd	20.9 Cr.	163	245/115	26.8	16.8	0.61 %	69.9 %	50.5 %	10.0
Hit Kit Global Solutions Ltd	6.82 Cr.	1.47	1.62/1.13	18.9	2.08	0.00 %	1.92 %	1.94 %	2.00
Industry Average	17,520.67 Cr	544.25		91.01	122.34	0.87%	21.42%	64.93%	6.91

All Competitor Stocks of Coforge Ltd

Quarterly Result

Metric	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
Sales	1,658	1,743	1,829	1,959	2,056	2,170	2,221	2,276	2,323	2,358	2,401	3,062	3,318
Expenses	1,355	1,430	1,541	1,622	1,696	1,874	1,915	1,935	1,928	1,973	2,108	2,650	2,875
Operating Profit	303	312	289	337	360	296	306	341	395	386	293	412	443
OPM %	18%	18%	16%	17%	17%	14%	14%	15%	17%	16%	12%	13%	13%
Other Income	5	23	14	14	32	-50	16	9	15	22	25	56	60
Interest	18	18	18	21	22	20	22	32	35	37	32	30	32
Depreciation	57	58	63	61	62	72	76	77	81	85	82	124	127
Profit before tax	233	259	221	268	307	155	224	241	294	286	205	314	343
Tax %	15%	13%	22%	18%	23%	25%	22%	22%	18%	20%	32%	25%	25%
Net Profit	197	225	172	221	236	117	176	188	243	229	139	234	256
EPS in Rs	30.17	34.10	24.58	32.99	37.37	18.79	27.06	29.41	38.54	36.19	19.97	30.32	32.23

Last Updated: March 3, 2025, 4:57 pm

Below is a detailed analysis of the quarterly data for Coforge Ltd based on the most recent figures (Dec 2024) and their trends compared to the previous period:

For Sales, as of Dec 2024, the value is 3,318.00 Cr.. The value appears strong and on an upward trend. It has increased from 3,062.00 Cr. (Sep 2024) to 3,318.00 Cr., marking an increase of 256.00 Cr..
For Expenses, as of Dec 2024, the value is 2,875.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 2,650.00 Cr. (Sep 2024) to 2,875.00 Cr., marking an increase of 225.00 Cr..
For Operating Profit, as of Dec 2024, the value is 443.00 Cr.. The value appears strong and on an upward trend. It has increased from 412.00 Cr. (Sep 2024) to 443.00 Cr., marking an increase of 31.00 Cr..
For OPM %, as of Dec 2024, the value is 13.00%. The value remains steady. There is no change compared to the previous period (Sep 2024) which recorded 13.00%.
For Other Income, as of Dec 2024, the value is 60.00 Cr.. The value appears strong and on an upward trend. It has increased from 56.00 Cr. (Sep 2024) to 60.00 Cr., marking an increase of 4.00 Cr..
For Interest, as of Dec 2024, the value is 32.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 30.00 Cr. (Sep 2024) to 32.00 Cr., marking an increase of 2.00 Cr..
For Depreciation, as of Dec 2024, the value is 127.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 124.00 Cr. (Sep 2024) to 127.00 Cr., marking an increase of 3.00 Cr..
For Profit before tax, as of Dec 2024, the value is 343.00 Cr.. The value appears strong and on an upward trend. It has increased from 314.00 Cr. (Sep 2024) to 343.00 Cr., marking an increase of 29.00 Cr..
For Tax %, as of Dec 2024, the value is 25.00%. The value remains steady. There is no change compared to the previous period (Sep 2024) which recorded 25.00%.
For Net Profit, as of Dec 2024, the value is 256.00 Cr.. The value appears strong and on an upward trend. It has increased from 234.00 Cr. (Sep 2024) to 256.00 Cr., marking an increase of 22.00 Cr..
For EPS in Rs, as of Dec 2024, the value is 32.23. The value appears strong and on an upward trend. It has increased from 30.32 (Sep 2024) to 32.23, marking an increase of 1.91.

Overall, while many items appear to show a positive trend, any significant downward movement warrant further investigation.

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: March 6, 2025, 4:33 pm

Metric	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Sales	2,021	2,305	2,372	2,688	2,802	2,991	3,676	4,184	4,663	6,432	8,015	9,179	11,140
Expenses	1,688	1,950	2,036	2,214	2,322	2,489	3,026	3,459	3,882	5,330	6,733	7,751	9,606
Operating Profit	333	355	337	474	480	502	650	725	781	1,102	1,282	1,428	1,534
OPM %	16%	15%	14%	18%	17%	17%	18%	17%	17%	17%	16%	16%	14%
Other Income	23	30	-64	20	4	38	46	59	13	52	8	61	163
Interest	5	4	6	8	6	9	9	16	14	65	81	126	132
Depreciation	57	62	92	121	128	127	125	173	184	227	258	319	417
Profit before tax	293	318	176	365	351	404	562	595	596	862	951	1,045	1,147
Tax %	26%	25%	31%	21%	22%	24%	25%	21%	22%	17%	22%	20%
Net Profit	218	238	122	287	272	309	422	468	466	715	745	836	858
EPS in Rs	35.40	37.98	18.69	44.13	40.76	45.59	65.28	71.05	75.19	108.65	113.58	130.70	118.71
Dividend Payout %	24%	24%	51%	23%	31%	33%	0%	44%	17%	48%	56%	58%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2013-2014	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024
YoY Net Profit Growth (%)	9.17%	-48.74%	135.25%	-5.23%	13.60%	36.57%	10.90%	-0.43%	53.43%	4.20%	12.21%
Change in YoY Net Profit Growth (%)	0.00%	-57.91%	183.99%	-140.47%	18.83%	22.97%	-25.67%	-11.33%	53.86%	-49.24%	8.02%

Coforge Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2013-2014 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:	15%
5 Years:	20%
3 Years:	25%
TTM:	24%

Compounded Profit Growth
10 Years:	14%
5 Years:	15%
3 Years:	20%
TTM:	4%

Stock Price CAGR
10 Years:	33%
5 Years:	43%
3 Years:	18%
1 Year:	27%

Return on Equity
10 Years:	21%
5 Years:	23%
3 Years:	25%
Last Year:	24%

Last Updated: Unknown

Balance Sheet

Last Updated: April 13, 2025, 3:52 pm

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	60	61	61	61	61	62	62	62	61	61	61	62	67
Reserves	1,034	1,263	1,296	1,511	1,625	1,712	2,010	2,334	2,406	2,672	3,021	3,565	5,912
Borrowings	10	9	9	10	25	22	14	35	83	490	562	726	1,064
Other Liabilities	435	468	611	702	695	828	748	968	935	1,655	1,980	1,708	5,084
Total Liabilities	1,539	1,801	1,977	2,285	2,407	2,624	2,834	3,400	3,484	4,878	5,625	6,061	12,127
Fixed Assets	438	453	558	903	848	879	819	1,079	1,021	2,067	2,312	2,353	5,919
CWIP	28	129	120	17	0	1	1	0	0	17	5	23	19
Investments	82	55	55	75	316	365	365	14	12	0	0	0	235
Other Assets	991	1,164	1,243	1,291	1,244	1,379	1,649	2,307	2,451	2,794	3,309	3,685	5,953
Total Assets	1,539	1,801	1,977	2,285	2,407	2,624	2,834	3,400	3,484	4,878	5,625	6,061	12,127

Below is a detailed analysis of the balance sheet data for Coforge Ltd based on the most recent figures (Sep 2024) and their trends compared to the previous period:

For Equity Capital, as of Sep 2024, the value is ₹67.00 Cr.. The value appears strong and on an upward trend. It has increased from 62.00 Cr. (Mar 2024) to ₹67.00 Cr., marking an increase of 5.00 Cr..
For Reserves, as of Sep 2024, the value is ₹5,912.00 Cr.. The value appears strong and on an upward trend. It has increased from 3,565.00 Cr. (Mar 2024) to ₹5,912.00 Cr., marking an increase of 2,347.00 Cr..
For Borrowings, as of Sep 2024, the value is ₹1,064.00 Cr.. The value appears to be increasing, which may not be favorable. Additionally, since Reserves exceed Borrowings, this is considered a positive sign. It has increased from 726.00 Cr. (Mar 2024) to ₹1,064.00 Cr., marking an increase of 338.00 Cr..
For Other Liabilities, as of Sep 2024, the value is ₹5,084.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 1,708.00 Cr. (Mar 2024) to ₹5,084.00 Cr., marking an increase of 3,376.00 Cr..
For Total Liabilities, as of Sep 2024, the value is ₹12,127.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 6,061.00 Cr. (Mar 2024) to ₹12,127.00 Cr., marking an increase of 6,066.00 Cr..
For Fixed Assets, as of Sep 2024, the value is ₹5,919.00 Cr.. The value appears strong and on an upward trend. It has increased from 2,353.00 Cr. (Mar 2024) to ₹5,919.00 Cr., marking an increase of 3,566.00 Cr..
For CWIP, as of Sep 2024, the value is ₹19.00 Cr.. The value appears to be declining and may need further review. It has decreased from 23.00 Cr. (Mar 2024) to ₹19.00 Cr., marking a decrease of 4.00 Cr..
For Investments, as of Sep 2024, the value is ₹235.00 Cr.. The value appears strong and on an upward trend. It has increased from 0.00 Cr. (Mar 2024) to ₹235.00 Cr., marking an increase of 235.00 Cr..
For Other Assets, as of Sep 2024, the value is ₹5,953.00 Cr.. The value appears strong and on an upward trend. It has increased from 3,685.00 Cr. (Mar 2024) to ₹5,953.00 Cr., marking an increase of 2,268.00 Cr..
For Total Assets, as of Sep 2024, the value is ₹12,127.00 Cr.. The value appears strong and on an upward trend. It has increased from 6,061.00 Cr. (Mar 2024) to ₹12,127.00 Cr., marking an increase of 6,066.00 Cr..

Notably, the Reserves (5,912.00 Cr.) exceed the Borrowings (1,064.00 Cr.), indicating a solid financial buffer.

Overall, while many items appear to show a positive trend, any significant downward movement or items where Borrowings exceed Reserves warrant further investigation.

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Cash from Operating Activity +	235	145	258	360	472	382	453	297	762	766	950	903
Cash from Investing Activity +	-107	-78	-184	-223	-343	-248	-237	136	-86	-963	-269	-265
Cash from Financing Activity +	-91	-53	-66	-73	-67	-74	-106	-133	-696	-156	-558	-887
Net Cash Flow	37	14	7	64	62	60	109	300	-20	-353	123	-249

Free Cash Flow

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Free Cash Flow	323.00	346.00	328.00	464.00	455.00	480.00	636.00	690.00	698.00	-489.00	-561.00	-725.00

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

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	82	89	93	80	61	71	58	75	84	79	73	72
Inventory Days	13	12
Days Payable	519	361
Cash Conversion Cycle	-424	-260	93	80	61	71	58	75	84	79	73	72
Working Capital Days	57	70	48	64	38	30	37	38	36	37	15	35
ROCE %	28%	26%	19%	25%	23%	23%	30%	27%	25%	32%	31%	29%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Promoters	49.97%	40.09%	40.09%	40.06%	39.99%	30.16%	26.63%	0.00%	0.00%	0.00%	0.00%	0.00%
FIIs	19.12%	22.40%	21.87%	21.02%	21.30%	25.40%	24.78%	34.37%	34.04%	35.00%	41.43%	42.09%
DIIs	20.29%	25.68%	25.88%	26.45%	26.73%	32.20%	37.20%	54.28%	55.02%	54.29%	47.29%	48.15%
Public	10.62%	11.83%	12.16%	12.47%	11.97%	12.23%	11.39%	11.35%	10.95%	10.69%	11.28%	9.75%
No. of Shareholders	1,04,250	1,42,049	1,50,308	1,63,779	1,53,393	1,46,685	1,33,646	1,23,330	1,17,844	1,26,739	1,63,357	1,37,768

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
HDFC Mid-Cap Opportunities Fund - Regular Plan	2,748,521	2.5	1512.36	N/A	N/A	N/A
Motilal Oswal Flexi Cap Fund	1,050,000	5.98	577.76	1,050,000	2025-04-14	0%
Motilal Oswal Midcap Fund	900,000	5.51	495.22	N/A	N/A	N/A
Axis Midcap Fund	783,552	1.69	431.15	N/A	N/A	N/A
Axis Growth Opportunities Fund	499,686	2.34	274.95	499,686	2025-04-16	0%
Axis ELSS Tax Saver Fund	432,030	0.67	237.72	N/A	N/A	N/A
HDFC Flexi Cap Fund - Regular Plan	400,000	0.43	220.1	400,000	2025-04-14	0%
Invesco India Contra Fund	340,064	1.35	187.12	N/A	N/A	N/A
Axis Small Cap Fund	314,879	0.91	173.26	314,879	2025-04-11	0%
Aditya Birla Sun Life Flexi Cap Fund	300,000	0.83	165.07	300,000	2025-04-13	0%

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
FaceValue	10.00	10.00	10.00	10.00	10.00
Basic EPS (Rs.)	131.56	113.77	109.02	74.68	71.39
Diluted EPS (Rs.)	131.56	111.53	106.52	73.29	70.97
Cash EPS (Rs.)	186.76	164.26	154.66	107.19	102.50
Book Value[Excl.RevalReserv]/Share (Rs.)	603.06	518.80	464.93	406.95	383.44
Book Value[Incl.RevalReserv]/Share (Rs.)	603.06	518.80	464.93	406.95	383.44
Revenue From Operations / Share (Rs.)	1485.28	1311.72	1056.16	769.44	669.42
PBDIT / Share (Rs.)	240.95	219.74	189.44	134.01	126.56
PBIT / Share (Rs.)	189.40	177.43	152.13	103.71	98.88
PBT / Share (Rs.)	169.08	155.68	141.46	98.38	95.26
Net Profit / Share (Rs.)	135.21	121.95	117.36	76.90	74.82
NP After MI And SOA / Share (Rs.)	130.74	113.55	108.65	75.18	71.04
PBDIT Margin (%)	16.22	16.75	17.93	17.41	18.90
PBIT Margin (%)	12.75	13.52	14.40	13.47	14.77
PBT Margin (%)	11.38	11.86	13.39	12.78	14.23
Net Profit Margin (%)	9.10	9.29	11.11	9.99	11.17
NP After MI And SOA Margin (%)	8.80	8.65	10.28	9.77	10.61
Return on Networth / Equity (%)	22.27	22.50	24.21	18.47	18.52
Return on Capital Employeed (%)	25.57	27.48	24.54	23.53	23.35
Return On Assets (%)	13.22	12.20	13.35	12.96	12.90
Long Term Debt / Equity (X)	0.09	0.10	0.12	0.00	0.00
Total Debt / Equity (X)	0.12	0.10	0.12	0.00	0.00
Asset Turnover Ratio (%)	1.56	0.96	0.98	0.84	0.85
Current Ratio (X)	1.70	1.50	1.88	2.53	2.71
Quick Ratio (X)	1.70	1.50	1.88	2.53	2.71
Dividend Payout Ratio (NP) (%)	57.74	50.98	47.68	15.07	28.13
Dividend Payout Ratio (CP) (%)	41.41	37.14	35.49	10.74	20.24
Earning Retention Ratio (%)	42.26	49.02	52.32	84.93	71.87
Cash Earning Retention Ratio (%)	58.59	62.86	64.51	89.26	79.76
Interest Coverage Ratio (X)	11.86	16.66	17.75	56.79	51.03
Interest Coverage Ratio (Post Tax) (X)	7.65	10.89	12.00	34.85	31.63
Enterprise Value (Cr.)	34184.90	23170.60	27122.64	16939.86	6277.34
EV / Net Operating Revenue (X)	3.72	2.89	4.22	3.63	1.50
EV / EBITDA (X)	22.96	17.26	23.51	20.86	7.94
MarketCap / Net Operating Revenue (X)	3.70	2.91	4.22	3.81	1.72
Retention Ratios (%)	42.25	49.01	52.31	84.92	71.86
Price / BV (X)	9.37	7.57	9.92	7.20	2.99
Price / Net Operating Revenue (X)	3.70	2.91	4.22	3.81	1.72
EarningsYield	0.02	0.02	0.02	0.02	0.06

After reviewing the key financial ratios for Coforge Ltd, here is a detailed analysis based on the latest available data and recent trends:

For FaceValue, as of Mar 24, the value is 10.00. This value is within the healthy range. There is no change compared to the previous period (Mar 23) which recorded 10.00.
For Basic EPS (Rs.), as of Mar 24, the value is 131.56. This value is within the healthy range. It has increased from 113.77 (Mar 23) to 131.56, marking an increase of 17.79.
For Diluted EPS (Rs.), as of Mar 24, the value is 131.56. This value is within the healthy range. It has increased from 111.53 (Mar 23) to 131.56, marking an increase of 20.03.
For Cash EPS (Rs.), as of Mar 24, the value is 186.76. This value is within the healthy range. It has increased from 164.26 (Mar 23) to 186.76, marking an increase of 22.50.
For Book Value[Excl.RevalReserv]/Share (Rs.), as of Mar 24, the value is 603.06. It has increased from 518.80 (Mar 23) to 603.06, marking an increase of 84.26.
For Book Value[Incl.RevalReserv]/Share (Rs.), as of Mar 24, the value is 603.06. It has increased from 518.80 (Mar 23) to 603.06, marking an increase of 84.26.
For Revenue From Operations / Share (Rs.), as of Mar 24, the value is 1,485.28. It has increased from 1,311.72 (Mar 23) to 1,485.28, marking an increase of 173.56.
For PBDIT / Share (Rs.), as of Mar 24, the value is 240.95. This value is within the healthy range. It has increased from 219.74 (Mar 23) to 240.95, marking an increase of 21.21.
For PBIT / Share (Rs.), as of Mar 24, the value is 189.40. This value is within the healthy range. It has increased from 177.43 (Mar 23) to 189.40, marking an increase of 11.97.
For PBT / Share (Rs.), as of Mar 24, the value is 169.08. This value is within the healthy range. It has increased from 155.68 (Mar 23) to 169.08, marking an increase of 13.40.
For Net Profit / Share (Rs.), as of Mar 24, the value is 135.21. This value is within the healthy range. It has increased from 121.95 (Mar 23) to 135.21, marking an increase of 13.26.
For NP After MI And SOA / Share (Rs.), as of Mar 24, the value is 130.74. This value is within the healthy range. It has increased from 113.55 (Mar 23) to 130.74, marking an increase of 17.19.
For PBDIT Margin (%), as of Mar 24, the value is 16.22. This value is within the healthy range. It has decreased from 16.75 (Mar 23) to 16.22, marking a decrease of 0.53.
For PBIT Margin (%), as of Mar 24, the value is 12.75. This value is within the healthy range. It has decreased from 13.52 (Mar 23) to 12.75, marking a decrease of 0.77.
For PBT Margin (%), as of Mar 24, the value is 11.38. This value is within the healthy range. It has decreased from 11.86 (Mar 23) to 11.38, marking a decrease of 0.48.
For Net Profit Margin (%), as of Mar 24, the value is 9.10. This value is within the healthy range. It has decreased from 9.29 (Mar 23) to 9.10, marking a decrease of 0.19.
For NP After MI And SOA Margin (%), as of Mar 24, the value is 8.80. This value is within the healthy range. It has increased from 8.65 (Mar 23) to 8.80, marking an increase of 0.15.
For Return on Networth / Equity (%), as of Mar 24, the value is 22.27. This value is within the healthy range. It has decreased from 22.50 (Mar 23) to 22.27, marking a decrease of 0.23.
For Return on Capital Employeed (%), as of Mar 24, the value is 25.57. This value is within the healthy range. It has decreased from 27.48 (Mar 23) to 25.57, marking a decrease of 1.91.
For Return On Assets (%), as of Mar 24, the value is 13.22. This value is within the healthy range. It has increased from 12.20 (Mar 23) to 13.22, marking an increase of 1.02.
For Long Term Debt / Equity (X), as of Mar 24, the value is 0.09. This value is below the healthy minimum of 0.2. It has decreased from 0.10 (Mar 23) to 0.09, marking a decrease of 0.01.
For Total Debt / Equity (X), as of Mar 24, the value is 0.12. This value is within the healthy range. It has increased from 0.10 (Mar 23) to 0.12, marking an increase of 0.02.
For Asset Turnover Ratio (%), as of Mar 24, the value is 1.56. It has increased from 0.96 (Mar 23) to 1.56, marking an increase of 0.60.
For Current Ratio (X), as of Mar 24, the value is 1.70. This value is within the healthy range. It has increased from 1.50 (Mar 23) to 1.70, marking an increase of 0.20.
For Quick Ratio (X), as of Mar 24, the value is 1.70. This value is within the healthy range. It has increased from 1.50 (Mar 23) to 1.70, marking an increase of 0.20.
For Dividend Payout Ratio (NP) (%), as of Mar 24, the value is 57.74. This value exceeds the healthy maximum of 50. It has increased from 50.98 (Mar 23) to 57.74, marking an increase of 6.76.
For Dividend Payout Ratio (CP) (%), as of Mar 24, the value is 41.41. This value is within the healthy range. It has increased from 37.14 (Mar 23) to 41.41, marking an increase of 4.27.
For Earning Retention Ratio (%), as of Mar 24, the value is 42.26. This value is within the healthy range. It has decreased from 49.02 (Mar 23) to 42.26, marking a decrease of 6.76.
For Cash Earning Retention Ratio (%), as of Mar 24, the value is 58.59. This value is within the healthy range. It has decreased from 62.86 (Mar 23) to 58.59, marking a decrease of 4.27.
For Interest Coverage Ratio (X), as of Mar 24, the value is 11.86. This value is within the healthy range. It has decreased from 16.66 (Mar 23) to 11.86, marking a decrease of 4.80.
For Interest Coverage Ratio (Post Tax) (X), as of Mar 24, the value is 7.65. This value is within the healthy range. It has decreased from 10.89 (Mar 23) to 7.65, marking a decrease of 3.24.
For Enterprise Value (Cr.), as of Mar 24, the value is 34,184.90. It has increased from 23,170.60 (Mar 23) to 34,184.90, marking an increase of 11,014.30.
For EV / Net Operating Revenue (X), as of Mar 24, the value is 3.72. This value exceeds the healthy maximum of 3. It has increased from 2.89 (Mar 23) to 3.72, marking an increase of 0.83.
For EV / EBITDA (X), as of Mar 24, the value is 22.96. This value exceeds the healthy maximum of 15. It has increased from 17.26 (Mar 23) to 22.96, marking an increase of 5.70.
For MarketCap / Net Operating Revenue (X), as of Mar 24, the value is 3.70. This value exceeds the healthy maximum of 3. It has increased from 2.91 (Mar 23) to 3.70, marking an increase of 0.79.
For Retention Ratios (%), as of Mar 24, the value is 42.25. This value is within the healthy range. It has decreased from 49.01 (Mar 23) to 42.25, marking a decrease of 6.76.
For Price / BV (X), as of Mar 24, the value is 9.37. This value exceeds the healthy maximum of 3. It has increased from 7.57 (Mar 23) to 9.37, marking an increase of 1.80.
For Price / Net Operating Revenue (X), as of Mar 24, the value is 3.70. This value exceeds the healthy maximum of 3. It has increased from 2.91 (Mar 23) to 3.70, marking an increase of 0.79.
For EarningsYield, as of Mar 24, the value is 0.02. This value is below the healthy minimum of 5. There is no change compared to the previous period (Mar 23) which recorded 0.02.

Overall, while many metrics show healthy performance, any figures highlighted in red or significant downward trends warrant further investigation.

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Coforge Ltd as of April 17, 2025 is: 9,767.20

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of April 17, 2025, Coforge Ltd is Undervalued by 52.42% compared to the current share price 6,408.00

Intrinsic Value of Coforge Ltd as of April 17, 2025 is: 10,701.28

Calculation basis:

Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of April 17, 2025, Coforge Ltd is Undervalued by 67.00% compared to the current share price 6,408.00

Last 5 Year EPS CAGR: 9.56%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The stock has a high average ROCE of 26.50%, which is a positive sign. The company has higher reserves (2,335.46 cr) compared to borrowings (235.31 cr), indicating strong financial stability. The company has shown consistent growth in sales (4.38 cr) and profit (421.15 cr) over the years.	The stock has a high average Working Capital Days of 42.08, which may not be favorable. The stock has a high average Cash Conversion Cycle of 5.17, which may not be favorable.

Stock Analysis

Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Coforge Ltd:
1. Net Profit Margin: 9.1%
  - Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
2. ROCE: 25.57% (Industry Average ROCE: 21.42%)
  - ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
3. ROE%: 22.27% (Industry Average ROE: 64.93%)
  - ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
4. Interest Coverage Ratio (Post Tax): 7.65
  - Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
5. Quick Ratio: 1.7
  - Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
6. Stock P/E: 56 (Industry average Stock P/E: 91.01)
  - Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
7. Total Debt / Equity: 0.12
  - Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
Stock Rating:

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. 4848.90 Cr. and Equity Capital is Rs. 61.80 Cr. for the Year ended 31/03/2024.

INDUSTRY	ADDRESS	CONTACT
IT Consulting & Software	8, Balaji Estate, New Delhi Delhi 110019	investors@coforge.com https://www.coforge.com

Management
Name	Position Held
Mr. Om Prakash Bhatt	Chairman & Ind.Dire (Non-Exe)
Mr. Sudhir Singh	Executive Director & CEO
Mr. Gautam Samanta	Executive Director
Ms. Mary Beth Boucher	Ind. Non-Executive Director
Mr. Anil Chanana	Ind. Non-Executive Director
Mr. D K Singh	Ind. Non-Executive Director

FAQ

What is the intrinsic value of Coforge Ltd?

Coforge Ltd's intrinsic value (as of 17 April 2025) is ₹9767.20 — 52.42% higher the current market price of 6,408.00, indicating undervalued. Calculated using the PE ratio method, this valuation considers the company's 42,886 Cr. market cap, FY2025-2026 high/low of ₹10,027/4,287, reserves of 5,912 Cr, and liabilities of 12,127 Cr.

What is the Market Cap of Coforge Ltd?

The Market Cap of Coforge Ltd is 42,886 Cr..

What is the current Stock Price of Coforge Ltd as on 17 April 2025?

The current stock price of Coforge Ltd as on 17 April 2025 is 6,408.

What is the High / Low of Coforge Ltd stocks in FY 2025-2026?

In FY 2025-2026, the High / Low of Coforge Ltd stocks is ₹10,027/4,287.

What is the Stock P/E of Coforge Ltd?

The Stock P/E of Coforge Ltd is 56.0.

What is the Book Value of Coforge Ltd?

The Book Value of Coforge Ltd is 894.

What is the Dividend Yield of Coforge Ltd?

The Dividend Yield of Coforge Ltd is 1.19 %.

What is the ROCE of Coforge Ltd?

The ROCE of Coforge Ltd is 28.6 %.

What is the ROE of Coforge Ltd?

The ROE of Coforge Ltd is 24.1 %.

What is the Face Value of Coforge Ltd?

The Face Value of Coforge Ltd is 10.0.