Share price
₹1,200.2 latest close · +16.0% over the last 90 sessions
₹1,200.2 month-end · −9.8% over 12 months
₹1,200.2 month-end · +30.2% over 3 years
₹1,200.2 month-end · +243.4% since Jan '19
52-week range ₹908.30 to ₹1402.80 · 1-year volatility 31.3%
Was the rally earned?
Earnings helped, the multiple did not.
- Per-share earnings added 42 points, but investors now pay less per rupee of profit (P/E 84.1x to 48.7x), which took 52 points back.
- The share count fell 8%.
What do "pts" mean?
"pts" are percentage points of the share price return. The parts add up to the total shown for each period. Because price = P/E × net profit ÷ share count, higher profit pushes the price up, a higher P/E pushes it up, and more shares push it down.
Example: if the price rose 34% and profit growth accounts for +58 pts while a lower P/E accounts for -24 pts, then 58 - 24 = 34. The +58 is not the profit growth rate itself: it is the part of the price move that profit growth explains.
Not shown for 3 years and 5 years: earnings were negative at one end, or there is not enough history.
Net profit is trailing twelve months as reported with a 60-day lag.
How rough has the ride been?
Drawdown from peak
Largest drawdowns
-51.9% (2021-10 peak to 2022-05 low, recovered 2024-07)
-48.7% (2025-01 peak to 2026-05 low, not yet recovered)
-45.1% (2020-02 peak to 2020-03 low, recovered 2020-07)
Most recent volume spikes
2026-08-11: 6.9x the 50-day median, price +6.1% that day
2026-07-08: 7.1x the 50-day median, price +1.7% that day
2026-07-07: 10.8x the 50-day median, price +13.1% that day
Beta is the slope of daily returns against a market-cap-weighted index of the sector's other listed companies, built from today's constituents (so it excludes companies no longer listed).
Is it expensive against its own past and its peers?
Usual range 4.0x to 163.8x since 2019-01.
131% above the Technology Services median.
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How to read this
Shaded band: 10th to 90th percentile of the company's own P/E history; dotted line: its median; orange line: sector median (companies with a positive multiple, at least 5 in the sector).
Sector figures are built from today's listed companies, so they exclude companies that are no longer listed.
Where does it rank among Technology Services peers?
Each cell is the company's percentile rank among its Technology Services peers (non-financial companies) that month.
Darker is better-ranked.
Rows marked ↓ are inverted (lower debt, shorter cash cycle and a lower P/E rank higher).
Where it ranks today
- ROCE17thflat vs a year ago
- Op. margin98th▲ 6 pts vs a year ago
- Revenue growth54th▼ 4 pts vs a year ago
- EPS growth85thflat vs a year ago
- Debt/equity ↓85thflat vs a year ago
- Cash cycle ↓91stflat vs a year ago
- P/E ↓18th▲ 7 pts vs a year ago
- 12M momentum67th▲ 13 pts vs a year ago
Rank history
Percentiles use today's listed companies in the sector and need at least 5 peers with a value; grey cells have too few.
ROE is computed from net profit and book value where the source does not report it.
The Technology Services sector page Watch it move against Technology Services in the Observatory
What is the price implying?
At normalised P/E (five-year average earnings) of 28.2x, a holder earning 12%/yr needs earnings to grow about 17.1%/yr for 10 years, then trade at 15x.
Over time
Implied growth by month (solid) and delivered growth (dashed).
Change the assumptions
| Exit P/E / return | 11% | 12% | 13% |
|---|---|---|---|
| 12x | 18.3% | 19.4% | 20.4% |
| 15x | 16.0% | 17.1% | 18.1% |
| 20x | 13.0% | 14.1% | 15.1% |
Drag a slider to test other assumptions
Implied: 17.1%/yrLooking back
- Jan 2020Price implied 40%/yr; EPS has since grown 16%/yr (7.0 yrs)
- Jan 2022Price implied 40%/yr; EPS has since grown 4%/yr (5.0 yrs)
Past comparisons cover only companies listed today (survivorship bias) and say nothing about future outcomes.
“Implied growth” is what the current price would require under our stated assumptions, not what we expect. How this is calculated and the market-wide lists.
What prices imply across Technology Services The market-wide Expectations lists
Key figures
- Share Priceclose 9 Nov
- ₹1200.20
- P/E
- 48.7x
- ROCE
- 3.0%
- Market Cap
- ₹77797 cr
- Revenue (TTM)
- ₹3374 cr
- P/S
- 23.1x
- P/B
- 2.1x
- ROE
- 4.2%
- Operating Margin
- 39.0%
- Debt / Equity
- 0.0x
- Promoter Holding
- 37.5%
- 12M Momentum
- -9.8%
52-week range
Price risk
Balance sheet & cash
Are profits backed by cash?
Other income reliance53%Beyond threshold
Other income as a share of pre-tax profit (trailing twelve months): 52.8%. Bands: below 15%, 15% to 35%, above 35%.
Tax rate20%Within range
Median quarterly effective tax rate over about 2.5 years: 20.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.
Cash conversion0.72xNear threshold
Operating cash flow divided by net profit over the last three fiscal years: 0.72x (cash from operations ₹2,654 cr, net profit ₹3,668 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.
Free cash flow5 of 5 yrsWithin range
Fiscal years with positive free cash flow in the last 5: 5. Bands: at least 80% of years, 40% to 80%, below 40%.
Receivable days vs history-1 daysWithin range
Debtor days are below the median of the previous three fiscal years by 1 days (1 vs 2). Bands: under 15 days, 15 to 45, over 45.
Capital work in progress2% of fixed assetsWithin range
Capital work-in-progress is 2% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.
Payable days—Not enough data
Not enough reported data to compute this.
Tap a check to see how it is measured
How to read this
Each check is a named rule with fixed thresholds, not a score. Annual statements are the latest restated figures, so a past year may differ from what was originally reported.
Who has been buying and selling?
- Over 3 years, DIIs added 9.6 pts; FIIs trimmed 7.5 pts.
Holdings, Jun '26
How each group changed
Number of shareholders
Quarterly shareholding as reported, labelled by the quarter it covers (it becomes visible about two months later).
Shareholder counts are only available for recent quarters.
What happened next to similar setups
- We found 50 past situations where a non-financial company looked like INFO EDGE (INDIA) LIMITED today on valuation, return on capital, margins, debt, growth, price momentum, size and volatility.
- Over the following 12 months the middle half of them returned −26% to +16% vs the market, against −6% for all non-financial companies in the same months.
- The gap against the base rate (+0.4%, 80% range −4.7% to +5.9%) is within what chance and overlapping periods produce.
Where the 50 outcomes landed
Each dot is one past situation (hover or tap for details) · Solid dots are the closest matches, listed below · Shaded is the middle half of all companies in the same months
50 past situations · 50 companies · 34 months · 2020–2025
The closest matches
| Company | When | P/E | ROCE | 12M mom. | Drawdown | Next 12 months |
|---|---|---|---|---|---|---|
| TATAINVEST Finance |
Oct 2023 | 62x | 1% | +32% | −10% | +59% |
| MAHSCOOTER Finance |
Sep 2024 | 65x | 1% | +54% | −6% | +59% |
| JIOFIN Finance |
Jun 2025 | 129x | 1% | −9% | −9% | −28% |
| JSWHL Finance |
Feb 2020 | 27x | 1% | +1% | −21% | +13% |
| AETHER Process Industries |
Apr 2025 | 100x | 7% | −3% | −24% | +36% |
Show the other 3 matches
How reliable is this?
Matched on P/E, P/S, ROCE, operating margin, debt/equity, interest cover, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: 12-month momentum, drawdown from 12-month high and P/E. One match per company and at most 7 from any one month.
Independent periods: the matches fall in 6 distinct 12-month windows. Matches from nearby months share the same market conditions, so fewer windows means less evidence.
What else looks like this?
Companies with the most similar financial profile today, regardless of industry.
Similarity is statistical, based on reported metrics; it does not imply similar business quality or future returns.
What changed?
30 events since Jan '22
- JulPriceVolume reached 10.8x its 50-day median on 2026-07-07; price +13.1% that day.
- MayPriceFell 49% from the Jan 2025 peak to the May 2026 low.
- MayPriceVolume reached 5.9x its 50-day median on 2026-05-22; price +3.7% that day.
- MarPriceVolume reached 6.2x its 50-day median on 2026-03-27; price -0.7% that day.
- AugPriceVolume reached 5.4x its 50-day median on 2025-08-14; price +3.0% that day.
- JunPeer rankMoved into the top quartile of Technology Services on EPS growth (from the bottom quartile).
- JunPriceVolume reached 6.4x its 50-day median on 2025-06-27; price -0.5% that day.
- MayValuationP/E crossed above the 90th percentile of its own history to date (165.4x).
Show 22 earlier events
- MarPeer rankMoved into the top quartile of Technology Services on operating margin (from the 2nd quartile).
- DecPeer rankSlipped to the 2nd quartile of Technology Services on operating margin (from the top quartile).
- NovPriceVolume reached 5.8x its 50-day median on 2024-11-22; price +6.5% that day.
- AugPriceVolume reached 5.1x its 50-day median on 2024-08-02; price +4.6% that day.
- JulPriceRegained the 2021-10 peak, 26 months after the low.
- JunResultsEPS (TTM) turned positive.
- JunValuationP/E crossed above the 90th percentile of its own history to date (152.6x).
- JunDividendStarted paying a dividend (payout 49% of profit).
- AprPriceVolume reached 6.8x its 50-day median on 2024-04-08; price +9.7% that day.
- JunResultsEPS (TTM) turned negative.
- JunPeer rankSlipped to the bottom quartile of Technology Services on ROCE (from the 2nd quartile).
- JunDividendDividend payout cut from 1% to -228% of profit.
- MayPriceVolume reached 8.7x its 50-day median on 2023-05-26; price +7.6% that day.
- FebPriceVolume reached 9.3x its 50-day median on 2023-02-13; price -9.2% that day.
- NovPriceVolume reached 7.7x its 50-day median on 2022-11-14; price +6.3% that day.
- JunResultsRevenue (TTM) reached a new high of ₹1,589 cr.
- JunPeer rankMoved into the 2nd quartile of Technology Services on ROCE (from the 3rd quartile).
- JunDividendDividend payout cut from 7% to 1% of profit.
- MayPriceFell 52% from the Oct 2021 peak to the May 2022 low.
- MayPriceVolume reached 5.7x its 50-day median on 2022-05-31; price +9.5% that day.
- FebValuationP/E fell below the 10th percentile of its own history to date (40.5x).
- JanPriceVolume reached 6.2x its 50-day median on 2022-01-31; price +11.2% that day.
Events are generated from the data by fixed rules.
The month shown is when the change became visible in the reported figures, assuming a 60-day lag after each quarter end; it is not an announcement date.
Where price and fundamentals disagree, market-wide Rewind the whole market to any month
Monthly history95 months · 2019-01 to 2026-11
| Month | P/E | Revenue (TTM) | ROE | ROCE | Debt / Equity |
|---|---|---|---|---|---|
| 2026-11 | 48.7x | ₹3374 cr | 4.2% | 3.0% | 0.0x |
| 2026-10 | 48.2x | ₹3374 cr | 4.0% | 3.0% | 0.0x |
| 2026-09 | 49.4x | ₹3374 cr | 4.0% | 3.0% | 0.0x |
| 2026-08 | 58.7x | ₹3284 cr | 3.7% | 3.0% | 0.0x |
| 2026-07 | 54.8x | ₹3284 cr | 3.7% | 3.0% | 0.0x |
| 2026-06 | 43.7x | ₹3284 cr | 3.7% | 3.0% | 0.0x |
| 2026-05 | 47.9x | ₹3165 cr | 3.8% | 3.0% | 0.0x |
| 2026-04 | 46.8x | ₹3165 cr | 3.8% | 3.0% | 0.0x |
| 2026-03 | 46.5x | ₹3165 cr | 3.8% | 3.0% | 0.0x |
| 2026-02 | 50.6x | ₹3068 cr | 3.8% | 3.0% | 0.0x |
| 2026-01 | 61.4x | ₹3068 cr | 3.8% | 3.0% | 0.0x |
| 2025-12 | 65.6x | ₹3068 cr | 3.8% | 3.0% | 0.0x |
| 2025-11 | 84.1x | ₹2964 cr | 3.2% | 3.0% | 0.0x |
| 2025-10 | 87.1x | ₹2964 cr | 3.2% | 3.0% | 0.0x |
| 2025-09 | 82.8x | ₹2964 cr | 3.2% | 3.0% | 0.0x |
| 2025-08 | 91.5x | ₹2850 cr | 3.0% | 3.0% | 0.0x |
| 2025-07 | 93.8x | ₹2850 cr | 3.0% | 3.0% | 0.0x |
| 2025-06 | 100.2x | ₹2850 cr | 3.0% | 3.0% | 0.0x |
| 2025-05 | 165.4x | ₹2757 cr | 1.9% | 4.0% | 0.0x |
| 2025-04 | 163.8x | ₹2757 cr | 1.9% | 4.0% | 0.0x |
| 2025-03 | 166.5x | ₹2757 cr | 1.9% | 4.0% | 0.0x |
| 2025-02 | 193.4x | ₹2662 cr | 1.5% | 4.0% | 0.0x |
| 2025-01 | 213.6x | ₹2662 cr | 1.5% | 4.0% | 0.0x |
| 2024-12 | 240.0x | ₹2662 cr | 1.5% | 4.0% | 0.0x |
| 2024-11 | 164.3x | ₹2587 cr | 1.9% | 4.0% | 0.0x |
| 2024-10 | 148.1x | ₹2587 cr | 1.9% | 4.0% | 0.0x |
| 2024-09 | 161.2x | ₹2587 cr | 1.9% | 4.0% | 0.0x |
| 2024-08 | 172.8x | ₹2536 cr | 1.6% | 4.0% | 0.0x |
| 2024-07 | 158.1x | ₹2536 cr | 1.6% | 4.0% | 0.0x |
| 2024-06 | 152.6x | ₹2536 cr | 1.6% | 4.0% | 0.0x |
| 2024-05 | — | ₹2346 cr | -0.4% | 3.0% | 0.0x |
| 2024-04 | — | ₹2346 cr | -0.4% | 3.0% | 0.0x |
| 2024-03 | — | ₹2346 cr | -0.4% | 3.0% | 0.0x |
| 2024-02 | — | ₹2346 cr | -0.4% | 3.0% | 0.0x |
| 2024-01 | — | ₹2346 cr | -0.4% | 3.0% | 0.0x |
| 2023-12 | — | ₹2346 cr | -0.4% | 3.0% | 0.0x |
| 2023-11 | — | ₹2346 cr | -0.4% | 3.0% | 0.0x |
| 2023-10 | — | ₹2346 cr | -0.4% | 3.0% | 0.0x |
| 2023-09 | — | ₹2346 cr | -0.4% | 3.0% | 0.0x |
| 2023-08 | — | ₹2346 cr | -0.4% | 3.0% | 0.0x |
| 2023-07 | — | ₹2346 cr | -0.4% | 3.0% | 0.0x |
| 2023-06 | — | ₹2346 cr | -0.4% | 3.0% | 0.0x |
| 2023-05 | 4.1x | ₹1589 cr | 59.5% | 23.0% | 0.0x |
| 2023-04 | 3.8x | ₹1589 cr | 59.5% | 23.0% | 0.0x |
| 2023-03 | 3.8x | ₹1589 cr | 59.5% | 23.0% | 0.0x |
| 2023-02 | 3.5x | ₹1589 cr | 59.5% | 23.0% | 0.0x |
| 2023-01 | 3.7x | ₹1589 cr | 59.5% | 23.0% | 0.0x |
| 2022-12 | 4.0x | ₹1589 cr | 59.5% | 23.0% | 0.0x |
| 2022-11 | 4.0x | ₹1589 cr | 59.5% | 23.0% | 0.0x |
| 2022-10 | 4.0x | ₹1589 cr | 59.5% | 23.0% | 0.0x |
| 2022-09 | 3.9x | ₹1589 cr | 59.5% | 23.0% | 0.0x |
| 2022-08 | 4.4x | ₹1589 cr | 59.5% | 23.0% | 0.0x |
| 2022-07 | 4.4x | ₹1589 cr | 59.5% | 23.0% | 0.0x |
| 2022-06 | 3.8x | ₹1589 cr | 59.5% | 23.0% | 0.0x |
| 2022-05 | 37.9x | ₹1128 cr | 20.9% | 4.0% | 0.0x |
| 2022-04 | 42.3x | ₹1128 cr | 20.9% | 4.0% | 0.0x |
| 2022-03 | 41.0x | ₹1128 cr | 20.9% | 4.0% | 0.0x |
| 2022-02 | 40.5x | ₹1128 cr | 20.9% | 4.0% | 0.0x |
| 2022-01 | 44.5x | ₹1128 cr | 20.9% | 4.0% | 0.0x |
| 2021-12 | 50.7x | ₹1128 cr | 20.9% | 4.0% | 0.0x |
| 2021-11 | 52.8x | ₹1128 cr | 20.9% | 4.0% | 0.0x |
| 2021-10 | 55.2x | ₹1128 cr | 20.9% | 4.0% | 0.0x |
| 2021-09 | 58.5x | ₹1128 cr | 20.9% | 4.0% | 0.0x |
| 2021-08 | 56.2x | ₹1128 cr | 20.9% | 4.0% | 0.0x |
| 2021-07 | 47.4x | ₹1128 cr | 20.9% | 4.0% | 0.0x |
| 2021-06 | 44.7x | ₹1128 cr | 20.9% | 4.0% | 0.0x |
| 2021-05 | — | ₹1312 cr | -8.9% | -13.0% | 0.0x |
| 2021-04 | — | ₹1312 cr | -8.9% | -13.0% | 0.0x |
| 2021-03 | — | ₹1312 cr | -8.9% | -13.0% | 0.0x |
| 2021-02 | — | ₹1312 cr | -8.9% | -13.0% | 0.0x |
| 2021-01 | — | ₹1312 cr | -8.9% | -13.0% | 0.0x |
| 2020-12 | — | ₹1312 cr | -8.9% | -13.0% | 0.0x |
| 2020-11 | — | ₹1312 cr | -8.9% | -13.0% | 0.0x |
| 2020-10 | — | ₹1312 cr | -8.9% | -13.0% | 0.0x |
| 2020-09 | — | ₹1312 cr | -8.9% | -13.0% | 0.0x |
| 2020-08 | — | ₹1312 cr | -8.9% | -13.0% | 0.0x |
| 2020-07 | — | ₹1312 cr | -8.9% | -13.0% | 0.0x |
| 2020-06 | — | ₹1312 cr | -8.9% | -13.0% | 0.0x |
| 2020-05 | 54.3x | ₹1151 cr | 18.5% | 4.0% | 0.0x |
| 2020-04 | 51.5x | ₹1151 cr | 18.5% | 4.0% | 0.0x |
| 2020-03 | 41.2x | ₹1151 cr | 18.5% | 4.0% | 0.0x |
| 2020-02 | 52.4x | ₹1151 cr | 18.5% | 4.0% | 0.0x |
| 2020-01 | 57.6x | ₹1151 cr | 18.5% | 4.0% | 0.0x |
| 2019-12 | 51.2x | ₹1151 cr | 18.5% | 4.0% | 0.0x |
| 2019-11 | 53.3x | ₹1151 cr | 18.5% | 4.0% | 0.0x |
| 2019-10 | 52.0x | ₹1151 cr | 18.5% | 4.0% | 0.0x |
| 2019-09 | 40.8x | ₹1151 cr | 18.5% | 4.0% | 0.0x |
| 2019-08 | 41.0x | ₹1151 cr | 18.5% | 4.0% | 0.0x |
| 2019-07 | 45.4x | ₹1151 cr | 18.5% | 4.0% | 0.0x |
| 2019-06 | 45.5x | ₹1151 cr | 18.5% | 4.0% | 0.0x |
| 2019-05 | 48.8x | ₹988 cr | 19.5% | 15.0% | 0.0x |
| 2019-04 | 46.0x | ₹988 cr | 19.5% | 15.0% | 0.0x |
| 2019-03 | 43.8x | ₹988 cr | 19.5% | 15.0% | 0.0x |
| 2019-02 | 42.6x | ₹988 cr | 19.5% | 15.0% | 0.0x |
| 2019-01 | 41.6x | ₹988 cr | 19.5% | 15.0% | 0.0x |