Coforge Ltd

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Coforge Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents
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Coforge Ltd

₹ 1,900 -0.43%
23 Oct - close price
coforge.com BSE: 532541 NSE: COFORGE F&O
About

Coforge is an IT services company providing end-to-end software solutions and services. .
It is among the top-20 Indian software exporters. Prominent global customers include British Airways, the ING group, SEI Investments, Sabre, and SITA. Over the years, Coforge has set up subsidiaries in the US, Singapore, Australia, UK, Germany and Thailand, mainly to market and mobilise projects for the software division. The company has business partnerships with large IT companies across the world.

Key Points

Business Profile:[1]
The company operates as an IT
solutions provider with a focus
on digital transformation and
technology services. Its business
model revolves around offering
consulting, implementation, and
support services in areas such
as cloud computing, cybersecurity,
analytics, and enterprise applications.

Website BSE NSE F&O
  • Market Cap ₹ 83,971 Cr.
  • Current Price ₹ 1,900
  • High / Low ₹ 2,022 / 1,008
  • Stock P/E 67.8
  • Book Value ₹ 252
  • Dividend Yield 0.63 %
  • ROCE 19.3 %
  • ROE 19.0 %
  • Face Value ₹ 2.00
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Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 44.5% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 35.5%
  • Company's median sales growth is 18.0% of last 10 years
  • Company's working capital requirements have reduced from 28.2 days to 20.4 days

Cons

  • Stock is trading at 7.55 times its book value
  • Tax rate seems low
  • Earnings include an other income of Rs.532 Cr.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Information Technology Information Technology IT - Software Computers - Software & Consulting

Part of BSE 500 BSE Information Technology BSE 100 BSE 200 BSE Dollex 200

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026 Sep 2026
1,219 1,265 1,225 1,210 1,326 1,433 1,870 2,046 2,383 2,486 2,658 3,080 3,812
1,109 1,092 1,066 1,136 1,218 1,346 1,672 1,863 2,090 2,213 2,397 2,729 3,405
Operating Profit 110 173 159 74 108 87 198 183 292 272 261 351 407
OPM % 9% 14% 13% 6% 8% 6% 11% 9% 12% 11% 10% 11% 11%
36 308 218 90 199 109 79 129 232 -17 431 73 45
Interest 18 19 22 17 5 13 19 17 14 19 20 63 79
Depreciation 31 32 34 31 38 41 70 75 77 76 83 82 86
Profit before tax 97 429 321 115 263 143 187 220 432 160 589 278 287
Tax % 21% 4% 8% 29% 13% 26% 23% -63% 16% 26% 6% 26% 27%
77 410 294 81 230 106 144 360 362 118 553 205 210
EPS in Rs 2.49 13.28 9.51 2.43 6.88 3.17 4.32 10.76 10.83 3.53 16.46 4.62 4.75
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Upcoming result date: today

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

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
1,346 1,484 1,595 1,646 1,999 2,231 2,412 3,313 4,230 4,849 6,370 9,572 12,036
1,115 1,220 1,315 1,396 1,698 1,929 2,131 2,887 3,775 4,339 5,763 8,562 10,745
Operating Profit 231 265 280 250 301 302 281 427 456 510 608 1,011 1,291
OPM % 17% 18% 18% 15% 15% 14% 12% 13% 11% 11% 10% 11% 11%
8 45 11 115 153 284 104 400 534 760 453 773 532
Interest 5 7 4 7 5 8 6 52 59 72 55 70 180
Depreciation 67 82 91 82 78 90 96 84 109 128 238 311 328
Profit before tax 168 221 197 276 370 487 283 692 822 1,069 767 1,402 1,315
Tax % 12% 13% 16% 18% 19% 13% 15% 7% 11% 7% 21% 1%
148 192 165 226 299 422 240 644 732 992 607 1,393 1,086
EPS in Rs 4.84 6.27 5.37 7.36 9.68 13.52 7.92 21.17 23.98 32.09 18.15 41.48 29.36
Dividend Payout % 39% 32% 47% 41% 0% 46% 33% 49% 53% 47% 21% 38%
Compounded Sales Growth
10 Years: 20%
5 Years: 32%
3 Years: 31%
TTM: 56%
Compounded Profit Growth
10 Years: 23%
5 Years: 44%
3 Years: 25%
TTM: 27%
Stock Price CAGR
10 Years: 36%
5 Years: 12%
3 Years: 25%
1 Year: 8%
Return on Equity
10 Years: 20%
5 Years: 22%
3 Years: 19%
Last Year: 19%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

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 61 61 61 62 62 62 61 61 61 62 67 67
Reserves 959 1,162 1,278 1,412 1,642 1,913 1,744 2,145 2,554 3,250 7,495 8,386
28 13 28 22 13 6 16 353 395 415 610 244
407 301 246 289 269 365 428 682 768 758 1,188 2,880
Total Liabilities 1,455 1,537 1,614 1,785 1,986 2,346 2,250 3,241 3,778 4,485 9,360 11,577
376 524 494 464 426 412 383 394 436 448 3,915 3,831
CWIP 116 1 0 1 1 0 0 9 2 20 2 1
Investments 234 409 584 744 866 837 855 1,834 1,834 2,168 2,580 2,435
729 603 535 576 693 1,097 1,012 1,005 1,507 1,848 2,862 5,311
Total Assets 1,455 1,537 1,614 1,785 1,986 2,346 2,250 3,241 3,778 4,485 9,360 11,577

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
242 404 240 202 196 228 485 389 76 295 354 791
-187 -263 -222 -119 -46 206 -4 -731 414 490 -1,884 471
-61 -81 -65 -75 -103 -133 -494 2 -413 -879 1,705 -949
Net Cash Flow -6 61 -47 9 46 301 -13 -340 77 -94 175 313
Free Cash Flow 84 290 171 151 151 169 424 289 11 152 202 625
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit 129% 174% 106% 105% 78% 99% 199% 121% 50% 92% 82% 101%

Ratios

Standalone / View Consolidated

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 120 62 48 56 58 66 49 47 68 73 83 94
Inventory Days 35
Days Payable 556
Cash Conversion Cycle -401 62 48 56 58 66 49 47 68 73 83 94
Working Capital Days 50 46 43 36 40 35 6 -4 20 35 29 20
ROCE % 18% 20% 17% 20% 23% 22% 15% 34% 34% 34% 13% 19%

Insights

In beta
Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Executable Order Book (Next 12 Months)
US$ Mn

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Fresh Order Intake
US$ Mn
Total Headcount
Number
BFS (Banking and Financial Services) Revenue Mix
% of revenue
LTM Attrition (excl. BPS)
%
Top 10 Client Concentration
% of revenue
Utilization (incl. Trainees)
%
R&D Expenditure (Percentage of Turnover)
%

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Shareholding Pattern

Numbers in percentages

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
34.04% 35.00% 41.43% 42.09% 42.55% 40.21% 37.42% 34.09% 34.53% 30.66% 24.31% 24.75%
55.02% 54.29% 47.29% 48.15% 47.86% 49.93% 52.32% 54.87% 53.67% 56.18% 42.62% 43.79%
10.95% 10.69% 11.28% 9.75% 9.58% 9.86% 10.25% 11.03% 11.80% 13.16% 33.07% 31.47%
No. of Shareholders 1,17,8441,26,7391,63,3571,37,7681,37,1701,44,1751,85,8652,23,4922,43,3662,93,5103,40,9803,12,271

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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