Sector Alpha Week of 2026-08-05
20-quarter listed-company comparison

IT - ER&D Stocks in India

IT - ER&D: Persistent Systems Ltd owns the largest revenue base AND the fastest current growth.

01 · the index people search for

Nifty IT - ER&D Index — Constituents & Performance

The IT - ER&D companies below are the listed Indian IT - ER&D universe this page tracks — the same constituent set people search for as the Nifty IT - ER&D index. Every figure is equal-weighted across those companies, so one large constituent cannot set the reading. Each number carries its own as-of date.

02 · the sector itself · before any single company

How has IT - ER&D moved against NIFTY 500?

The line below covers up to 5.2 years and opens on the 5Y view; the buttons cut it shorter. Over the most recent two of them this sector is 36% behind NIFTY 500. Earnings across its companies fell 6% on average over the last four reported quarters.

TURNING · ahead 1w~Price down, no fundamental support3 of 7 companies ahead of NIFTY 500 by 5% or more over three months

RS ↑1w · 3/7 >200d (+1) · 3/7 lead (+0) · EPS 3/6↑

20050020262025202420232022 320333 TRAILING 12-MONTH EPS · 100 AT THE START0100125Dec 22Jun 23Dec 23Jun 24Dec 24Jun 25Dec 25Jun 26Sep 2022 · trailing 12-month earnings per share at 100, against 100 at the start · no comparable year yet · 3 reporting · thin coverageDec 2022 · trailing 12-month earnings per share at 109, against 100 at the start · no comparable year yet · 3 reporting · thin coverageMar 2023 · trailing 12-month earnings per share at 116, against 100 at the start · no comparable year yet · 3 reporting · thin coverageJun 2023 · trailing 12-month earnings per share at 113, against 100 at the start · up 33.1% on a year ago · 4 reportingSep 2023 · trailing 12-month earnings per share at 103, against 100 at the start · up 19.0% on a year ago · 6 reportingDec 2023 · trailing 12-month earnings per share at 111, against 100 at the start · up 16.7% on a year ago · 6 reportingMar 2024 · trailing 12-month earnings per share at 110, against 100 at the start · up 16.3% on a year ago · 6 reportingJun 2024 · trailing 12-month earnings per share at 104, against 100 at the start · up 14.7% on a year ago · 6 reportingSep 2024 · trailing 12-month earnings per share at 104, against 100 at the start · up 1.2% on a year ago · 6 reportingDec 2024 · trailing 12-month earnings per share at 102, against 100 at the start · down 2.1% on a year ago · 6 reportingMar 2025 · trailing 12-month earnings per share at 99, against 100 at the start · down 1.7% on a year ago · 6 reportingJun 2025 · trailing 12-month earnings per share at 106, against 100 at the start · up 6.5% on a year ago · 6 reportingSep 2025 · trailing 12-month earnings per share at 120, against 100 at the start · up 6.7% on a year ago · 6 reportingDec 2025 · trailing 12-month earnings per share at 125, against 100 at the start · down 4.2% on a year ago · 6 reportingMar 2026 · trailing 12-month earnings per share at 124, against 100 at the start · down 9.2% on a year ago · 6 reportingJun 2026 · trailing 12-month earnings per share at 116, against 100 at the start · down 18.8% on a year ago · 5 reportingNot reported yet — earnings trail price by a quarter or two116No earnings on file this far back — the price series reaches further than the filings doNO EARNINGS ON FILE
20050020262025202420232022 320333 TRAILING 12-MONTH EPS · 100 AT THE START0100125Jun 23Jun 24Jun 25Jun 26Sep 2022 · trailing 12-month earnings per share at 100, against 100 at the start · no comparable year yet · 3 reporting · thin coverageDec 2022 · trailing 12-month earnings per share at 109, against 100 at the start · no comparable year yet · 3 reporting · thin coverageMar 2023 · trailing 12-month earnings per share at 116, against 100 at the start · no comparable year yet · 3 reporting · thin coverageJun 2023 · trailing 12-month earnings per share at 113, against 100 at the start · up 33.1% on a year ago · 4 reportingSep 2023 · trailing 12-month earnings per share at 103, against 100 at the start · up 19.0% on a year ago · 6 reportingDec 2023 · trailing 12-month earnings per share at 111, against 100 at the start · up 16.7% on a year ago · 6 reportingMar 2024 · trailing 12-month earnings per share at 110, against 100 at the start · up 16.3% on a year ago · 6 reportingJun 2024 · trailing 12-month earnings per share at 104, against 100 at the start · up 14.7% on a year ago · 6 reportingSep 2024 · trailing 12-month earnings per share at 104, against 100 at the start · up 1.2% on a year ago · 6 reportingDec 2024 · trailing 12-month earnings per share at 102, against 100 at the start · down 2.1% on a year ago · 6 reportingMar 2025 · trailing 12-month earnings per share at 99, against 100 at the start · down 1.7% on a year ago · 6 reportingJun 2025 · trailing 12-month earnings per share at 106, against 100 at the start · up 6.5% on a year ago · 6 reportingSep 2025 · trailing 12-month earnings per share at 120, against 100 at the start · up 6.7% on a year ago · 6 reportingDec 2025 · trailing 12-month earnings per share at 125, against 100 at the start · down 4.2% on a year ago · 6 reportingMar 2026 · trailing 12-month earnings per share at 124, against 100 at the start · down 9.2% on a year ago · 6 reportingJun 2026 · trailing 12-month earnings per share at 116, against 100 at the start · down 18.8% on a year ago · 5 reportingNot reported yet — earnings trail price by a quarter or twoNo earnings on file this far back — the price series reaches further than the filings do
IT - ER&D, equal-weighted, based at 200 NIFTY 500, same base, same start trailing 12-month earnings per share rising falling

Both lines start at 200 in the same week, so the distance between them is the whole story: the sector line is an equal-weighted index of its 7 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member rebased to 100 at the start and the sector taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover any point to read both values and the gap. This is a description of what the numbers did, not advice.

03 · sector relative strength, before individual stocks

Is IT - ER&D outperforming NIFTY 500?

IT - ER&D has underperformed NIFTY 500 by 23.2% over the last 52 weeks. Over 13 weeks the gap is a lead of 2.2%. 3 of 7 covered companies currently beat NIFTY on Mansfield relative strength, so leadership inside the sector is selective. Persistent Systems Ltd is the strongest against the sector itself at +16.4%. Readings are as of 2026-07-19.

+2.2%Sector vs NIFTY 500 · 13 weeks
-23.2%Sector vs NIFTY 500 · 52 weeks
3/7Stocks leading NIFTY 500
4/7Stocks leading sector

Sector metric: 26.6 as of 2026-07-19 · NARROWING · rising.

The central tension: current leadership is concentrated, so durability matters more than rank.

Start with scale. Then earnings trajectory. Then business quality. Only after those three agree should price leadership carry much weight.

Bottom line

IT - ER&D has underperformed NIFTY 500 by 23.2% over 52 weeks and 2.2% over 13 weeks. 3 of 7 covered companies beat NIFTY on Mansfield relative strength, while 4 of 7 beat the sector itself. Persistent Systems Ltd leads with revenue of ₹14,749 crore, based on 7 of 7 comparable companies through Mar 2026.

Companies
7
complete canonical membership
Combined market value
₹2.0 L Cr
Persistent Systems Ltd
Revenue growing
7/7
positive TTM year-on-year growth
Beating NIFTY 500
3/7
positive Mansfield relative strength
Comparing 5 of 7
04 · research priority, made explicit

4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

Growth & earnings · 35%Capital efficiency · 25%Valuation · 20%Relative strength · 20%
Persistent Systems Ltd has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 89.6% evidence confidence.
Tata Technologies Ltd has stronger price confirmation than earnings confirmation; that is a research prompt, not permission to chase.
How this score is built, and what the marks mean

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.

CompanyScorePrice stageGrowth & earnings/35Capital efficiency/25Valuation/20Relative strength/20
1Persistent Systems LtdPERSISTENT 71.2/100Favorable setup90% evidence TURNING 29.2/35 Revenue 23.6% · PAT 33.1% · OPM change 1 pp 88% evidence 17.6/25 ROCE 34.4% · OPM 19% 100% evidence 9.2/20 P/E 45.4× · PEG 1.23 100% evidence 15.2/20 RS sector 16.4% · RS bench 0.7% · 1Y 7.7%3 of 10 weeks ahead 70% evidence
Exact sum: 29.2 + 17.6 + 9.2 + 15.2 = 71.2 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.
2Onward Technologies LtdONWARDTEC 58.8/100Mixed-positive evidence74% evidence TURNING 21.9/35 Revenue 10.7% · PAT 30.3% · OPM change -1 pp 95% evidence 14.0/25 ROCE 22.9% · OPM 12% 95% evidence 11.5/20 P/E 14.4× · PEG — 15% evidence 11.4/20 RS sector 0.6% · RS bench 0.9% · 1Y -13.4%4 of 10 weeks ahead 70% evidence
Exact sum: 21.9 + 14 + 11.5 + 11.4 = 58.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
3L&T Technology Services LtdLTTS 53.6/100Mixed-positive evidence94% evidence ASLEEP 19.9/35 Revenue 10.1% · PAT 4.4% · OPM change 2 pp 100% evidence 16.3/25 ROCE 26.7% · OPM 19% 100% evidence 6.5/20 P/E 28.1× · PEG 3.84 100% evidence 10.9/20 RS sector 2.4% · RS bench -8.4% · 1Y -15.8%0 of 10 weeks ahead 70% evidence
Exact sum: 19.9 + 16.3 + 6.5 + 10.9 = 53.6 · Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression.
4Tata Elxsi LtdTATAELXSI 48.3/100Mixed-negative evidence80% evidence BASING 19.0/35 Revenue 9.6% · PAT 41.1% · OPM change 0.2 pp 95% evidence 19.3/25 ROCE 60% · OPM 21.1% 95% evidence 8.5/20 P/E 224× · PEG — 15% evidence 1.5/20 RS sector -15% · RS bench -24.9% · 1Y -39.4%0 of 12 weeks ahead 100% evidence
Exact sum: 19 + 19.3 + 8.5 + 1.5 = 48.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
5Tata Technologies LtdTATATECH 44.2/100Mixed-negative evidence94% evidence TURNING 13.0/35 Revenue 15.2% · PAT -18.5% · OPM change 0 pp 100% evidence 11.2/25 ROCE 20.9% · OPM 16% 100% evidence 4.0/20 P/E 46.6× · PEG 4.06 100% evidence 16.0/20 RS sector 6.7% · RS bench 11.7% · 1Y 5.5%11 of 11 weeks ahead 70% evidence
Exact sum: 13 + 11.2 + 4 + 16 = 44.2 · Decision use: Price leads the evidence: RS versus the benchmark is 11.7%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
6KPIT Technologies LtdKPITTECH 33.5/100Adverse evidence94% evidence ASLEEP 6.2/35 Revenue 9.6% · PAT -28.1% · OPM change -4 pp 100% evidence 15.6/25 ROCE 26.3% · OPM 15% 100% evidence 8.7/20 P/E 26.3× · PEG 6.64 100% evidence 3.0/20 RS sector -23.3% · RS bench -37.9% · 1Y -51.2%2 of 10 weeks ahead 70% evidence
Exact sum: 6.2 + 15.6 + 8.7 + 3 = 33.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
7Cyient LtdCYIENT 32.3/100Adverse evidence76% evidence ASLEEP 8.7/35 Revenue 3.2% · PAT -36.9% · OPM change 0 pp 95% evidence 7.9/25 ROCE 12.3% · OPM 13% 76% evidence 9.7/20 P/E 23.1× · PEG — 50% evidence 6.0/20 RS sector -9.7% · RS bench -18.4% · 1Y -31.8%0 of 10 weeks ahead 70% evidence
Exact sum: 8.7 + 7.9 + 9.7 + 6 = 32.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
05 · what price has already done

Market action

Persistent Systems Ltd has the strongest one-year price move in IT - ER&D at +7.7%. Tata Technologies Ltd leads on Mansfield relative strength against NIFTY at +11.7%. 3 of 7 covered companies are above zero on that measure. Every line covers 313 weekly closes through 2026-07-31.

Price and relative strength

Every company, the sector's own index and NIFTY 500 all start level on the left edge of the window, so only the distance between the lines counts — the highest line has risen the most since then, and the chart at the top of this page is drawn the same way. It opens on one year; the buttons beside it stretch that to three or five.

06 · compare level, then change

Revenue Scale & Growth Durability

Persistent Systems Ltd has the highest Revenue among the 7 IT - ER&D companies compared here, at ₹14,749 crore. L&T Technology Services Ltd is next at ₹11,565 crore. The same company also holds the highest Revenue growth, at 23.6%. 7 of 7 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Persistent Systems Ltd is the scale leader at ₹14,749 crore, 27.5% ahead of L&T Technology Services Ltd. Persistent Systems Ltd's growth is 23.6% from a ₹14,749 crore base, with 19 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

LeaderPersistent Systems Ltd · ₹14,749 crore
Gap27.5% versus #2 · L&T Technology Services Ltd
Persistence8/8 recent comparable periods
Coverage7/7 companies · 129 observations

Investor read: Persistent Systems Ltd is the scale benchmark; Persistent Systems Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: Persistent Systems Ltd's growth falls below Persistent Systems Ltd's for two consecutive comparable reports while operating margin also compresses.

Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.
Revenuelargest
1Persistent Systems Ltd PERSISTENT₹14.7K Cr
2L&T Technology Services Ltd LTTS₹11.6K Cr
3Cyient Ltd CYIENT₹7.6K Cr
4KPIT Technologies Ltd KPITTECH₹6.6K Cr
5Tata Technologies Ltd TATATECH₹5.9K Cr
Revenue growthfastest growers
1Persistent Systems Ltd PERSISTENT24%
2Tata Technologies Ltd TATATECH15%
3Onward Technologies Ltd ONWARDTEC⚠ unverified11%
4L&T Technology Services Ltd LTTS10%
5KPIT Technologies Ltd KPITTECH9.6%
Revenue · company comparison
7/7 level · 7/7 change

On every company-comparison chart on this page: solid lines show level, dotted lines show change when “Both” is selected, and a missing report breaks the line rather than being invented.

All-company data · latest reported quarter

In every all-company table on this page, each figure is the company’s latest single reported quarter. The rankings above them use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyRevenueRevenue growthReported
Persistent Systems Ltd PERSISTENT₹4.1K Cr25%Mar 2026
L&T Technology Services Ltd LTTS₹2.9K Cr11%Jun 2026
Cyient Ltd CYIENT₹2.1K Cr21%Jun 2026
KPIT Technologies Ltd KPITTECH₹1.7K Cr8.8%Jun 2026
Tata Technologies Ltd TATATECH₹1.7K Cr34%Jun 2026
Tata Elxsi Ltd TATAELXSI⚠ unverified₹1.0K Cr14%Jun 2026
Onward Technologies Ltd ONWARDTEC⚠ unverified₹149 Cr12%Jun 2026
Full 20-quarter history · every available company

Revenue · reported quarter history

Cyient Ltd · CYIENT

—
—
—
—
—
₹1.6K Cr
₹1.8K Cr
₹1.7K Cr
₹1.8K Cr
₹1.8K Cr
₹1.9K Cr
₹1.7K Cr
₹1.8K Cr
₹1.9K Cr
₹1.9K Cr
₹1.7K Cr
₹1.8K Cr
₹1.8K Cr
₹1.9K Cr
₹2.1K Cr

KPIT Technologies Ltd · KPITTECH

₹591 Cr
₹622 Cr
₹652 Cr
₹691 Cr
₹746 Cr
₹917 Cr
₹1.0K Cr
₹1.1K Cr
₹1.2K Cr
₹1.3K Cr
₹1.3K Cr
₹1.4K Cr
₹1.5K Cr
₹1.5K Cr
₹1.5K Cr
₹1.5K Cr
₹1.6K Cr
₹1.6K Cr
₹1.7K Cr
₹1.7K Cr

L&T Technology Services Ltd · LTTS

₹1.6K Cr
₹1.7K Cr
₹1.7K Cr
₹1.9K Cr
₹2.0K Cr
₹2.2K Cr
₹2.4K Cr
₹2.3K Cr
₹2.4K Cr
₹2.4K Cr
₹2.5K Cr
₹2.5K Cr
₹2.6K Cr
₹2.7K Cr
₹2.6K Cr
₹2.6K Cr
₹3.0K Cr
₹2.8K Cr
₹2.9K Cr
₹2.9K Cr

Onward Technologies Ltd · ONWARDTEC⚠ unverified

—
—
—
—
—
₹116 Cr
₹121 Cr
₹120 Cr
₹120 Cr
₹114 Cr
₹118 Cr
₹118 Cr
₹123 Cr
₹123 Cr
₹127 Cr
₹133 Cr
₹139 Cr
₹135 Cr
₹137 Cr
₹149 Cr

Persistent Systems Ltd · PERSISTENT

₹1.4K Cr
₹1.5K Cr
₹1.6K Cr
₹1.9K Cr
₹2.0K Cr
₹2.2K Cr
₹2.3K Cr
₹2.3K Cr
₹2.4K Cr
₹2.5K Cr
₹2.6K Cr
₹2.7K Cr
₹2.9K Cr
₹3.1K Cr
₹3.2K Cr
₹3.3K Cr
₹3.6K Cr
₹3.8K Cr
₹4.1K Cr
—

Tata Elxsi Ltd · TATAELXSI⚠ unverified

₹595 Cr
₹635 Cr
₹691 Cr
₹726 Cr
₹763 Cr
₹818 Cr
₹844 Cr
₹850 Cr
₹882 Cr
₹914 Cr
₹917 Cr
₹926 Cr
₹955 Cr
₹939 Cr
₹940 Cr
₹892 Cr
₹918 Cr
₹953 Cr
₹1.0K Cr
₹1.0K Cr

Tata Technologies Ltd · TATATECH

₹882 Cr
₹1.0K Cr
₹922 Cr
₹894 Cr
₹994 Cr
₹1.1K Cr
₹1.4K Cr
₹1.3K Cr
₹1.3K Cr
₹1.3K Cr
₹1.3K Cr
₹1.3K Cr
₹1.3K Cr
₹1.3K Cr
₹1.3K Cr
₹1.2K Cr
₹1.3K Cr
₹1.4K Cr
₹1.6K Cr
₹1.7K Cr

Revenue growth · reported quarter history

Cyient Ltd · CYIENT

—
—
—
—
—
—
—
—
—
13%
6.3%
-0.6%
4.0%
5.8%
2.6%
2.2%
-3.7%
-4.1%
0.9%
21%

KPIT Technologies Ltd · KPITTECH

—
—
—
22%
26%
47%
56%
59%
61%
37%
30%
24%
23%
18%
16%
13%
8.0%
9.4%
12%
8.8%

L&T Technology Services Ltd · LTTS

—
—
—
—
26%
28%
38%
23%
20%
12%
7.0%
7.0%
7.8%
9.5%
3.9%
7.2%
16%
5.1%
8.3%
11%

Onward Technologies Ltd · ONWARDTEC⚠ unverified

—
—
—
—
—
—
—
—
—
-1.7%
-2.8%
-1.7%
2.5%
7.9%
7.6%
13%
13%
9.8%
7.9%
12%

Persistent Systems Ltd · PERSISTENT

—
—
—
53%
52%
45%
38%
24%
18%
15%
15%
18%
20%
23%
25%
22%
24%
23%
25%
—

Tata Elxsi Ltd · TATAELXSI⚠ unverified

—
—
—
—
28%
29%
22%
17%
16%
12%
8.7%
8.9%
8.3%
2.7%
2.5%
-3.7%
-3.9%
1.5%
8.3%
14%

Tata Technologies Ltd · TATATECH

—
—
—
29%
13%
8.7%
52%
41%
28%
15%
-7.2%
0.9%
2.1%
2.2%
-1.2%
-2.0%
2.1%
3.7%
22%
34%
07 · compare level, then change

Operating Economics & Margin Trend

Tata Elxsi Ltd has the highest OPM among the 7 IT - ER&D companies compared here, at 21.1%. L&T Technology Services Ltd is next at 19%. L&T Technology Services Ltd has the highest Margin change at +2 percentage points, so level and change sit with different companies. 7 of 7 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Tata Elxsi Ltd leads opm at 21.1%; L&T Technology Services Ltd leads margin change at +2 percentage points.

LeaderTata Elxsi Ltd · 21.1%
Gap11.1% versus #2 · L&T Technology Services Ltd
Persistence2/8 recent comparable periods
Coverage7/7 companies · 139 observations

Investor read: Tata Elxsi Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.
OPMhighest
1Tata Elxsi Ltd TATAELXSI⚠ unverified21%
2L&T Technology Services Ltd LTTS19%
3Persistent Systems Ltd PERSISTENT19%
4Tata Technologies Ltd TATATECH16%
5KPIT Technologies Ltd KPITTECH15%
Margin changefastest expanders
1L&T Technology Services Ltd LTTS+2.0 pp
2Persistent Systems Ltd PERSISTENT+1.0 pp
3Tata Elxsi Ltd TATAELXSI⚠ unverified+0.2 pp
4Cyient Ltd CYIENT0.0 pp
5Tata Technologies Ltd TATATECH0.0 pp
Operating margin · company comparison
7/7 level · 7/7 change
All-company data · latest reported quarter
CompanyOPMMargin changeReported
Tata Elxsi Ltd TATAELXSI⚠ unverified21%+0.2 ppJun 2026
Persistent Systems Ltd PERSISTENT19%+1.0 ppMar 2026
L&T Technology Services Ltd LTTS19%+2.0 ppJun 2026
Tata Technologies Ltd TATATECH16%0.0 ppJun 2026
KPIT Technologies Ltd KPITTECH15%−4.0 ppJun 2026
Cyient Ltd CYIENT13%0.0 ppJun 2026
Onward Technologies Ltd ONWARDTEC⚠ unverified12%−1.0 ppJun 2026
Full 20-quarter history · every available company

OPM · reported quarter history

Cyient Ltd · CYIENT

19%
18%
18%
15%
15%
18%
18%
19%
18%
18%
18%
16%
16%
14%
16%
13%
12%
13%
12%
13%

KPIT Technologies Ltd · KPITTECH

18%
18%
19%
19%
19%
19%
18%
19%
20%
21%
21%
21%
20%
21%
21%
19%
19%
19%
18%
15%

L&T Technology Services Ltd · LTTS

22%
22%
22%
20%
19%
20%
20%
20%
20%
20%
20%
19%
18%
19%
16%
17%
16%
18%
18%
19%

Onward Technologies Ltd · ONWARDTEC⚠ unverified

10.0%
13%
7.3%
3.1%
2.9%
6.0%
13%
14%
13%
9.0%
8.0%
10%
6.0%
9.0%
11%
13%
14%
15%
11%
12%

Persistent Systems Ltd · PERSISTENT

17%
17%
17%
18%
18%
19%
18%
16%
17%
18%
18%
17%
17%
18%
18%
18%
19%
19%
19%
—

Tata Elxsi Ltd · TATAELXSI⚠ unverified

31%
33%
32%
33%
30%
30%
30%
30%
30%
30%
29%
27%
28%
26%
23%
21%
21%
23%
25%
21%

Tata Technologies Ltd · TATATECH

15%
19%
15%
17%
20%
18%
17%
20%
17%
18%
18%
18%
18%
18%
18%
16%
16%
14%
16%
16%

Margin change · reported quarter history

Cyient Ltd · CYIENT

+2.9 pp
+2.2 pp
+3.8 pp
−2.2 pp
−4.0 pp
+0.1 pp
+0.0 pp
+3.6 pp
+3.4 pp
0.0 pp
0.0 pp
−3.0 pp
−2.0 pp
−4.0 pp
−2.0 pp
−3.0 pp
−4.0 pp
−1.0 pp
−4.0 pp
0.0 pp

KPIT Technologies Ltd · KPITTECH

+3.3 pp
+2.4 pp
+2.4 pp
+2.1 pp
+0.9 pp
+0.6 pp
−0.6 pp
−0.4 pp
+1.5 pp
+2.0 pp
+3.0 pp
+2.0 pp
0.0 pp
0.0 pp
0.0 pp
−2.0 pp
−1.0 pp
−2.0 pp
−3.0 pp
−4.0 pp

L&T Technology Services Ltd · LTTS

+4.0 pp
+2.1 pp
+1.3 pp
−0.6 pp
−2.6 pp
−1.8 pp
−1.7 pp
−0.3 pp
+0.8 pp
0.0 pp
0.0 pp
−1.0 pp
−2.0 pp
−1.0 pp
−4.0 pp
−2.0 pp
−2.0 pp
−1.0 pp
+2.0 pp
+2.0 pp

Onward Technologies Ltd · ONWARDTEC⚠ unverified

+0.5 pp
+5.7 pp
+1.5 pp
+5.8 pp
−7.1 pp
−6.5 pp
+5.4 pp
+10.9 pp
+10.1 pp
+3.0 pp
−4.6 pp
−4.0 pp
−7.0 pp
0.0 pp
+3.0 pp
+3.0 pp
+8.0 pp
+6.0 pp
0.0 pp
−1.0 pp

Persistent Systems Ltd · PERSISTENT

+0.1 pp
−0.1 pp
+0.3 pp
+1.4 pp
+1.4 pp
+2.2 pp
+0.8 pp
−1.8 pp
−1.0 pp
−1.0 pp
0.0 pp
+1.0 pp
0.0 pp
0.0 pp
0.0 pp
+1.0 pp
+2.0 pp
+1.0 pp
+1.0 pp
—

Tata Elxsi Ltd · TATAELXSI⚠ unverified

+3.4 pp
+3.1 pp
+0.0 pp
+6.0 pp
−1.2 pp
−3.0 pp
−2.7 pp
−3.2 pp
+0.2 pp
−0.6 pp
−1.0 pp
−2.3 pp
−2.0 pp
−3.3 pp
−6.0 pp
−6.3 pp
−6.8 pp
−3.0 pp
+1.8 pp
+0.2 pp

Tata Technologies Ltd · TATATECH

—
—
—
+3.9 pp
+4.4 pp
−0.9 pp
+2.2 pp
+3.1 pp
−2.7 pp
−0.3 pp
+1.0 pp
−2.0 pp
+1.0 pp
0.0 pp
0.0 pp
−2.0 pp
−2.0 pp
−4.0 pp
−2.0 pp
0.0 pp
08 · compare level, then change

Profit Scale & Acceleration

Persistent Systems Ltd has the highest Net profit among the 7 IT - ER&D companies compared here, at ₹1,864 crore. L&T Technology Services Ltd is next at ₹1,322 crore. Tata Elxsi Ltd has the highest Profit growth at 41.1%, so level and change sit with different companies. 7 of 7 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Persistent Systems Ltd leads with ₹1,864 crore of TTM profit, 41% above L&T Technology Services Ltd. Tata Elxsi Ltd shows 41.1% growth from a ₹103 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

LeaderPersistent Systems Ltd · ₹1,864 crore
Gap41% versus #2 · L&T Technology Services Ltd
Persistence8/8 recent comparable periods
Coverage7/7 companies · 129 observations

Investor read: Persistent Systems Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.
Net profitlargest
1Persistent Systems Ltd PERSISTENT₹1.9K Cr
2L&T Technology Services Ltd LTTS₹1.3K Cr
3KPIT Technologies Ltd KPITTECH₹581 Cr
4Tata Technologies Ltd TATATECH₹558 Cr
5Cyient Ltd CYIENT₹415 Cr
Profit growthfastest growers
1Tata Elxsi Ltd TATAELXSI⚠ unverified41%
2Persistent Systems Ltd PERSISTENT33%
3Onward Technologies Ltd ONWARDTEC⚠ unverified30%
4L&T Technology Services Ltd LTTS4.4%
5Tata Technologies Ltd TATATECH-19%
Net profit · company comparison
7/7 level · 7/7 change
All-company data · latest reported quarter
CompanyNet profitProfit growthReported
Persistent Systems Ltd PERSISTENT₹529 Cr34%Mar 2026
L&T Technology Services Ltd LTTS₹357 Cr13%Jun 2026
Tata Technologies Ltd TATATECH₹181 Cr6.5%Jun 2026
Tata Elxsi Ltd TATAELXSI⚠ unverified₹171 Cr19%Jun 2026
KPIT Technologies Ltd KPITTECH₹116 Cr-33%Jun 2026
Cyient Ltd CYIENT₹109 Cr-31%Jun 2026
Onward Technologies Ltd ONWARDTEC⚠ unverified₹11 Cr-15%Jun 2026
Full 20-quarter history · every available company

Net profit · reported quarter history

Cyient Ltd · CYIENT

—
—
—
—
—
₹156 Cr
₹163 Cr
₹169 Cr
₹184 Cr
₹153 Cr
₹197 Cr
₹148 Cr
₹187 Cr
₹128 Cr
₹186 Cr
₹157 Cr
₹143 Cr
₹97 Cr
₹66 Cr
₹109 Cr

KPIT Technologies Ltd · KPITTECH

₹65 Cr
₹70 Cr
₹79 Cr
₹85 Cr
₹83 Cr
₹104 Cr
₹112 Cr
₹134 Cr
₹141 Cr
₹157 Cr
₹166 Cr
₹204 Cr
₹204 Cr
₹187 Cr
₹245 Cr
₹172 Cr
₹169 Cr
₹133 Cr
₹163 Cr
₹116 Cr

L&T Technology Services Ltd · LTTS

₹231 Cr
₹250 Cr
₹263 Cr
₹275 Cr
₹283 Cr
₹298 Cr
₹341 Cr
₹312 Cr
₹316 Cr
₹337 Cr
₹341 Cr
₹314 Cr
₹320 Cr
₹320 Cr
₹310 Cr
₹316 Cr
₹329 Cr
₹303 Cr
₹333 Cr
₹357 Cr

Onward Technologies Ltd · ONWARDTEC⚠ unverified

—
—
—
—
—
₹2 Cr
₹7 Cr
₹11 Cr
₹10 Cr
₹7 Cr
₹7 Cr
₹7 Cr
₹4 Cr
₹6 Cr
₹10 Cr
₹13 Cr
₹12 Cr
₹10 Cr
₹10 Cr
₹11 Cr

Persistent Systems Ltd · PERSISTENT

₹162 Cr
₹176 Cr
₹201 Cr
₹212 Cr
₹220 Cr
₹238 Cr
₹252 Cr
₹229 Cr
₹263 Cr
₹286 Cr
₹315 Cr
₹306 Cr
₹325 Cr
₹373 Cr
₹396 Cr
₹425 Cr
₹471 Cr
₹439 Cr
₹529 Cr
—

Tata Elxsi Ltd · TATAELXSI⚠ unverified

₹125 Cr
₹151 Cr
₹160 Cr
₹185 Cr
₹174 Cr
₹195 Cr
₹202 Cr
₹189 Cr
₹200 Cr
₹206 Cr
₹197 Cr
₹184 Cr
₹229 Cr
₹199 Cr
₹172 Cr
₹144 Cr
₹155 Cr
₹109 Cr
₹220 Cr
₹171 Cr

Tata Technologies Ltd · TATATECH

₹104 Cr
₹155 Cr
₹106 Cr
₹116 Cr
₹143 Cr
₹148 Cr
₹217 Cr
₹192 Cr
₹160 Cr
₹170 Cr
₹157 Cr
₹162 Cr
₹157 Cr
₹169 Cr
₹189 Cr
₹170 Cr
₹166 Cr
₹7 Cr
₹204 Cr
₹181 Cr

Profit growth · reported quarter history

Cyient Ltd · CYIENT

—
—
—
—
—
—
—
—
—
-1.9%
21%
-12%
1.6%
-16%
-5.6%
6.1%
-24%
-24%
-65%
-31%

KPIT Technologies Ltd · KPITTECH

—
—
—
42%
28%
49%
42%
58%
70%
51%
48%
52%
45%
19%
48%
-16%
-17%
-29%
-33%
-33%

L&T Technology Services Ltd · LTTS

—
—
—
—
23%
19%
30%
13%
12%
13%
0.0%
0.6%
1.3%
-5.0%
-9.1%
0.6%
2.8%
-5.3%
7.4%
13%

Onward Technologies Ltd · ONWARDTEC⚠ unverified

—
—
—
—
—
—
—
—
—
250%
-3.3%
-36%
-60%
-14%
43%
86%
200%
67%
0.0%
-15%

Persistent Systems Ltd · PERSISTENT

—
—
—
40%
36%
35%
25%
8.0%
20%
20%
25%
34%
24%
30%
26%
39%
45%
18%
34%
—

Tata Elxsi Ltd · TATAELXSI⚠ unverified

—
—
—
—
39%
29%
26%
2.2%
15%
5.6%
-2.5%
-2.7%
15%
-3.4%
-13%
-22%
-32%
-45%
28%
19%

Tata Technologies Ltd · TATATECH

—
—
—
61%
38%
-4.3%
105%
66%
12%
15%
-28%
-16%
-1.9%
-0.6%
20%
4.9%
5.7%
-96%
7.9%
6.5%
09 · compare level, then change

Return On Capital Employed

Tata Elxsi Ltd has the highest ROCE among the 7 IT - ER&D companies compared here, at 60%. Persistent Systems Ltd is next at 34.4%. Persistent Systems Ltd has the highest ROCE change at +3 percentage points, so level and change sit with different companies. 7 of 7 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Tata Elxsi Ltd leads ROCE at 60%, 25.6 percentage points above Persistent Systems Ltd. Persistent Systems Ltd has the strongest latest improvement at +3 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.

LeaderTata Elxsi Ltd · 60%
Gap74.4% versus #2 · Persistent Systems Ltd
Persistence1/8 recent comparable periods
Coverage7/7 companies · 93 observations

Investor read: Tata Elxsi Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.
ROCEhighest
1Tata Elxsi Ltd TATAELXSI⚠ unverified60%
2Persistent Systems Ltd PERSISTENT34%
3L&T Technology Services Ltd LTTS27%
4KPIT Technologies Ltd KPITTECH26%
5Onward Technologies Ltd ONWARDTEC⚠ unverified23%
ROCE changefastest improvers
1Persistent Systems Ltd PERSISTENT+3.0 pp
2Onward Technologies Ltd ONWARDTEC⚠ unverified+2.8 pp
3L&T Technology Services Ltd LTTS−1.8 pp
4Cyient Ltd CYIENT−5.0 pp
5Tata Elxsi Ltd TATAELXSI⚠ unverified−5.1 pp
Return on capital · company comparison
7/7 level · 7/7 change

Withheld from this chart: Cyient Ltd (CYIENT) — its two data sources disagree by up to 16% on reported income across 14 comparable periods, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.

All-company data · latest reported quarter
CompanyROCEROCE changeReported
Persistent Systems Ltd PERSISTENT28%+3.0 ppMar 2026
L&T Technology Services Ltd LTTS27%−1.8 ppJun 2026
Tata Elxsi Ltd TATAELXSI⚠ unverified24%−5.1 ppJun 2026
KPIT Technologies Ltd KPITTECH24%−6.7 ppJun 2026
Onward Technologies Ltd ONWARDTEC⚠ unverified22%+2.8 ppJun 2026
Tata Technologies Ltd TATATECH14%−6.7 ppJun 2026
Full 20-quarter history · every available company

ROCE · reported quarter history

KPIT Technologies Ltd · KPITTECH

17%
—
20%
—
24%
—
22%
—
27%
38%
30%
39%
32%
42%
30%
38%
27%
30%
24%
—

L&T Technology Services Ltd · LTTS

24%
25%
24%
25%
27%
27%
31%
—
31%
36%
28%
34%
26%
32%
28%
28%
18%
27%
23%
27%

Onward Technologies Ltd · ONWARDTEC⚠ unverified

4.9%
—
8.5%
—
8.3%
—
8.6%
—
19%
26%
17%
20%
12%
16%
12%
19%
17%
24%
19%
22%

Persistent Systems Ltd · PERSISTENT

20%
20%
20%
22%
24%
25%
27%
28%
27%
26%
25%
24%
25%
24%
25%
25%
27%
27%
28%
—

Tata Elxsi Ltd · TATAELXSI⚠ unverified

42%
—
41%
—
44%
—
39%
—
40%
—
35%
—
35%
—
29%
—
27%
—
24%
—

Tata Technologies Ltd · TATATECH

—
—
22%
—
—
22%
23%
—
26%
32%
24%
28%
24%
28%
20%
26%
19%
21%
14%
—

ROCE change · reported quarter history

KPIT Technologies Ltd · KPITTECH

—
—
—
—
+7.0 pp
—
+1.5 pp
—
+3.3 pp
—
+8.0 pp
—
+4.5 pp
+3.6 pp
+0.3 pp
−1.1 pp
−5.0 pp
−11.3 pp
−6.7 pp
—

L&T Technology Services Ltd · LTTS

—
—
—
—
+3.0 pp
+2.2 pp
+7.2 pp
—
+3.9 pp
+8.3 pp
−3.7 pp
—
−4.8 pp
−3.7 pp
+0.8 pp
−6.0 pp
−8.3 pp
−4.9 pp
−5.8 pp
−1.8 pp

Onward Technologies Ltd · ONWARDTEC⚠ unverified

—
—
—
—
+3.4 pp
—
+0.1 pp
—
+11.0 pp
—
+8.1 pp
—
−7.3 pp
−9.9 pp
−4.5 pp
−1.7 pp
+5.4 pp
+7.4 pp
+6.6 pp
+2.8 pp

Persistent Systems Ltd · PERSISTENT

—
—
—
—
+3.4 pp
+4.7 pp
+6.6 pp
+6.0 pp
+3.5 pp
+1.1 pp
−2.0 pp
−3.4 pp
−2.6 pp
−2.0 pp
+0.5 pp
+0.9 pp
+2.5 pp
+3.0 pp
+3.0 pp
—

Tata Elxsi Ltd · TATAELXSI⚠ unverified

—
—
—
—
+2.0 pp
—
−2.1 pp
—
−4.6 pp
—
−3.8 pp
—
−4.2 pp
—
−5.6 pp
—
−8.6 pp
—
−5.1 pp
—

Tata Technologies Ltd · TATATECH

—
—
—
—
—
—
+0.3 pp
—
—
+10.6 pp
+1.7 pp
—
−2.3 pp
−4.4 pp
−3.8 pp
−1.8 pp
−5.0 pp
−7.3 pp
−6.7 pp
—
10 · compare level, then change

Valuation Against Growth & Quality

Persistent Systems Ltd has the lowest PEG among the 7 IT - ER&D companies compared here, at 1.23×. L&T Technology Services Ltd is next at 3.84×. Onward Technologies Ltd has the lowest P/E at 14.4×, so level and change sit with different companies. 4 of 7 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Persistent Systems Ltd has the lowest comparable PEG at 1.23×, 68% below L&T Technology Services Ltd. Only 4 of 7 companies have earnings and growth steady enough for the ratio to mean anything, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

LeaderPersistent Systems Ltd · 1.23×
Gap68% versus #2 · L&T Technology Services Ltd
Persistence0/8 recent comparable periods
Coverage4/7 companies · 48 observations

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data feeds agreed. Where any of that fails the ratio is left out rather than printed: a P/E divided by a loss, or by growth measured off a tiny base, is a number that looks precise and means nothing.
PEGlowest PEG
1Persistent Systems Ltd PERSISTENT1.2
2L&T Technology Services Ltd LTTS3.8
3Tata Technologies Ltd TATATECH4.1
4KPIT Technologies Ltd KPITTECH6.6
P/Elowest P/E
1Onward Technologies Ltd ONWARDTEC⚠ unverified14.4
2Cyient Ltd CYIENT23.1
3KPIT Technologies Ltd KPITTECH26.3
4L&T Technology Services Ltd LTTS28.1
5Persistent Systems Ltd PERSISTENT45.4
Valuation · company comparison
4/7 level · 7/7 change
All-company data · latest reported quarter
CompanyPEGP/EReported
KPIT Technologies Ltd KPITTECH6.630.1Jun 2026
Tata Technologies Ltd TATATECH4.149.6Jun 2026
L&T Technology Services Ltd LTTS3.826.1Jun 2026
Persistent Systems Ltd PERSISTENT1.242.6Mar 2026
Tata Elxsi Ltd TATAELXSI⚠ unverified—245.9Jun 2026
Cyient Ltd CYIENT—20.8Jun 2026
Onward Technologies Ltd ONWARDTEC⚠ unverified—13.9Jun 2026
Full 20-quarter history · every available company

PEG · reported quarter history

KPIT Technologies Ltd · KPITTECH

2.1
—
—
—
—
1.3
1.7
1.9
1.6
1.6
1.4
1.4
1.3
1.1
1.2
1.0
1.9
6.6
—
—

L&T Technology Services Ltd · LTTS

—
3.8
1.9
0.8
1.7
1.2
1.2
1.7
3.4
2.7
3.0
3.1
—
—
—
—
—
—
—
3.8

Persistent Systems Ltd · PERSISTENT

1.2
1.2
1.0
—
0.7
0.9
0.9
1.2
1.7
2.4
2.4
4.2
3.4
3.6
2.7
2.3
1.8
1.7
1.2
—

Tata Technologies Ltd · TATATECH

—
—
—
—
—
—
—
—
—
5.3
—
—
—
—
2.1
—
7.3
—
4.1
—

P/E · reported quarter history

Cyient Ltd · CYIENT

29.9
25.9
21.4
16.5
16.7
18.2
21.0
30.4
31.0
36.4
30.9
28.0
30.2
30.8
22.1
23.6
20.1
22.0
15.6
20.8

KPIT Technologies Ltd · KPITTECH

56.5
77.6
66.0
49.9
60.8
60.8
72.4
78.0
73.2
85.0
75.5
75.7
69.1
55.2
47.2
41.4
41.2
42.9
23.8
30.1

L&T Technology Services Ltd · LTTS

66.8
71.2
58.3
34.5
37.3
35.8
31.4
36.5
38.7
43.9
44.5
40.3
43.4
37.9
36.7
36.7
35.2
38.9
27.6
26.1

Onward Technologies Ltd · ONWARDTEC⚠ unverified

23.2
25.3
27.8
22.2
34.2
67.0
85.3
101.3
58.5
46.4
28.8
26.6
31.3
30.3
24.4
30.1
20.1
15.2
10.8
13.9

Persistent Systems Ltd · PERSISTENT

56.1
65.6
57.0
37.6
33.0
36.6
39.5
41.3
46.2
56.5
59.5
61.0
71.5
80.0
64.5
66.8
50.6
58.9
42.6
—

Tata Elxsi Ltd · TATAELXSI⚠ unverified

358.2
358.2
515.1
475.9
522.4
383.8
363.8
463.3
441.2
534.4
475.3
427.4
476.9
420.4
318.4
387.4
323.8
326.5
254.0
245.9

Tata Technologies Ltd · TATATECH

—
—
—
—
—
—
—
—
—
76.7
56.0
61.0
70.0
56.4
42.7
42.9
39.5
38.3
33.3
49.6
11 · before the conclusion, check the blind spots

What can make this comparison misleading?

This IT - ER&D comparison names 6 specific ways its own evidence can mislead, all listed below. All 7 companies here report on comparable dates, so no rank carries a stale marker. 2 draw at least one figure from a second feed with too little overlap to cross-check. 1 has second-feed figures withheld because the two sources disagree.

Keep these limits visible

  • A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
  • A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
  • The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
  • An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
  • 2 companies draw at least one figure from a second data feed with too little overlapping history to cross-check against the primary source; they are marked unverified wherever those figures appear.
  • 1 company is missing from the second-feed metrics by decision, not by absence: the two sources disagree, so nothing from the second is drawn. Read those rows as narrower evidence, never as a weaker business.
12 · evidence and freshness

How was this comparison built?

This comparison is built from the reported filings of 7 IT - ER&D companies, normalized to a common ₹ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Jun 2026 and market data through 2026-07-31. A second data feed fills gaps only after identity and scale reconciliation, and missing observations are never interpolated.

FundamentalsThrough Jun 2026 · up to 20 quarters per company
Market dataThrough 2026-07-31 · weekly price and relative-strength history
Derived metricsGrowth, changes and PEG are calculated only when their inputs are comparable.
Score confidenceMissing and stale evidence reduces confidence and pulls the 0–100 research-priority score toward neutral.
Source standing4 cross-checked · 2 unverified · 1 withheld, of 7 graded companies.
How a second data feed is admitted, and what happens when it disagrees

A second feed is read only after its reported income is matched against the primary source on at least three overlapping periods. Where the two agree the figures fill silently. Where there is too little shared history to compare, the figures are still drawn — they are the only evidence there is — and marked ⚠ unverified everywhere they appear. Where the two are known to disagree, nothing from the second feed is drawn and the affected company is named under the chart it is missing from.

13 · questions investors ask, short speakable answers

IT - ER&D company comparison FAQs

These 24 answers restate the IT - ER&D comparison above in question form. Every one is computed from the same 7 companies and the same reported filings as the rankings and charts, current through Jun 2026. Price and relative-strength answers run through 2026-07-31. Nothing here is estimated, and none of it is a recommendation.

Is the IT - ER&D sector outperforming NIFTY 500?

IT - ER&D has underperformed NIFTY 500 by 23.2% over 52 weeks and 2.2% over 13 weeks. 3 of 7 covered companies beat NIFTY on Mansfield relative strength, while 4 of 7 beat the sector itself.

Which IT - ER&D company is largest by revenue?

Persistent Systems Ltd leads with revenue of ₹14,749 crore, based on 7 of 7 comparable companies through Mar 2026.

Which IT - ER&D company is growing fastest?

Persistent Systems Ltd has the fastest current revenue growth at 23.6%, across 7 of 7 comparable companies.

Which IT - ER&D company has the strongest 4-Factor Sector Score?

Persistent Systems Ltd ranks first at 71.2/100 with 89.6% evidence confidence. The score prioritizes research; it is not a buy recommendation.

Which IT - ER&D company has the lowest comparable PEG?

Persistent Systems Ltd has the lowest comparable PEG at 1.23, among 4 of 7 companies whose earnings and growth are steady enough for the ratio to mean anything.

How much history does this IT - ER&D comparison include?

The page compares up to 20 reported quarters per company for fundamentals, returns and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated.

How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

What is the Nifty IT - ER&D index?

The Nifty IT - ER&D index tracks India's listed IT - ER&D companies as a single basket. This page follows the same 7 companies and equal-weights them, so every company's weekly return counts once whatever it is worth, and the reading belongs to the IT - ER&D sector rather than to its largest constituent. Figures are as of Jun 2026.

Which are the best IT - ER&D stocks in India?

Ranked by this page's four-factor score, Persistent Systems Ltd places first among 7 listed IT - ER&D companies, followed by Onward Technologies Ltd. That is a ranking of published data — earnings, quality, valuation and market behaviour as of Jun 2026 — and not a recommendation; Sector Alpha is not registered with SEBI as an investment adviser.

How many IT - ER&D stocks are listed in India?

This comparison covers 7 listed IT - ER&D companies in India, each above the size floor the site applies, with 20 quarters of reported figures per company where the filings exist. The full ranked list is on this page, as of Jun 2026.

Which IT - ER&D company is the biggest?

Persistent Systems Ltd is the largest, with trailing-twelve-month revenue of ₹14,749 crore, ahead of L&T Technology Services Ltd at ₹11,565 crore. That covers 7 of 7 companies with comparable reporting through Mar 2026.

Which IT - ER&D company has the best profit margins?

Tata Elxsi Ltd has the highest operating margin at 21.1%, from 7 of 7 comparable companies. L&T Technology Services Ltd shows the biggest recent improvement, at +2 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.

Which IT - ER&D company makes the most profit?

Persistent Systems Ltd earns the most, at ₹1,864 crore of trailing-twelve-month net profit, from 7 of 7 comparable companies. Tata Elxsi Ltd has the fastest profit growth at 41.1%, though growth off a small or recovering profit base overstates how much has actually changed.

Which IT - ER&D company earns the highest return on capital?

Tata Elxsi Ltd leads on return on capital employed at 60%, across 7 of 7 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

Which IT - ER&D stock is the cheapest?

On PEG — where a LOWER number is cheaper — Persistent Systems Ltd screens cheapest at 1.23×. Only 4 of 7 companies have earnings and growth steady enough for the ratio to mean anything, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

Is the IT - ER&D sector beating the market?

IT - ER&D has underperformed NIFTY 500 by 23.2% over the last 52 weeks and 2.2% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 3 of 7 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

Which IT - ER&D stock has the strongest price momentum?

Tata Technologies Ltd has the strongest relative strength against NIFTY 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

Which IT - ER&D company scores highest for research priority?

Persistent Systems Ltd scores 71.2 out of 100 with 89.6% evidence confidence, from 29.2 points on growth and earnings, 17.6 on capital efficiency, 9.2 on valuation and 15.2 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

How many IT - ER&D companies does this comparison cover, and over what period?

It compares 7 listed companies over up to 20 reported quarters of fundamentals, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

What is the total market cap of the IT - ER&D sector?

The 7 IT - ER&D companies on this page carry ₹2,04,966 crore of combined market value. Persistent Systems Ltd is the largest at ₹87,535 crore, about 43% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-08-05.

What is the IT - ER&D sector's P/E ratio?

The median price-to-earnings ratio across the 7 IT - ER&D companies on this page is 28.1×, measured on the 7 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-08-05.

How is the IT - ER&D sector performing?

3 of the 7 covered IT - ER&D companies are beating NIFTY 500 on Mansfield relative strength. The sector itself is 23.2% behind NIFTY 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-08-05.

Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.

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