Coforge share price today

Coforge Ltd's share price was ₹2,060.00 at the close on 4 November 2026. It has been rising for 13 weeks. That is 23.9% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹1,089 and ₹2,060, and at that close it was at the high of that range.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Coforge Ltd is in stage 2. The phase helps read everything below.

Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 31 weeks in a row.

Over the last 11 years the share price moved +2,128% while the NIFTY 500 moved +251%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

Three changes stood out: revenue up on a year earlier for 12 quarters in a row (every quarter we can compare), profit up on a year earlier for 9 quarters in a row and highest quarterly revenue in 16 quarters.

1. Revenue up on a year earlier for 12 quarters in a row (every quarter we can compare)

   In the September 2026 quarter revenue was ₹6,171 crore, +53.7% on a year earlier.

   Why: Revenue rose because the company won more large deals, with order intake up sharply from a year earlier.

   Next results: check that new deal signings at least match last quarter's count.

   From the earnings call on 23 Oct 2026.

2. Profit up on a year earlier for 9 quarters in a row

   In the September 2026 quarter profit was ₹605 crore, +42.4% on a year earlier.

   Next results: check whether AI work on contracts with set prices lifts the share of sales left after costs.

   From the earnings call on 23 Oct 2026.

3. Highest quarterly revenue in 16 quarters

   Revenue of ₹6,171 crore in the September 2026 quarter is the highest of the last 16 quarters.

For July to September 2026 (the quarter ended 30 September 2026), Coforge reported revenue of ₹6,171 crore, up 53.7% from ₹4,016 crore a year earlier, and a profit of ₹605 crore, up 42.4% from ₹425 crore.

Coforge results: July to September 2026 against a year earlier

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

Coforge's management discussed these results on a call held on 23 October 2026; what it said is further down this page.

From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.

Coforge closed at ₹2,060.00 on 4 November 2026, up 18.4% from ₹1,740.20 a year earlier (7 November 2025) and up 102.7% over five years. Its highest weekly close since March 2016 was ₹2,060.00 on 4 November 2026.

Coforge share price: then and now

Weekly closing prices, adjusted for splits and bonuses so every price is on today’s share count. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

563 weekly closes from 11 March 2016 to 4 November 2026.

4 Nov 2026: Coforge closed at ₹2,060.00, up 0.7% on the week and up 12.8% on the month. 23 Oct 2026: Coforge held its results call for July to September 2026. Management guided: FY27 consolidated EBIT guidance raised from 15.5% to 16%, with Q4 exit at 17%.

Earlier

• Our read, 10 Oct 2026: Encora adds revenue and disclosed overhead savings, but share issuance, financing and amortization reduce the benefit reaching each share. Signed transformation work provides forward fuel; customer savings become shareholder profit only if pricing and delivery costs preserve the benefit.
• Results for July to September 2026: Revenue up 53.7% and profit up 42.4% on a year earlier.
• 3 Aug 2026: ex-date for an interim dividend of ₹4 a share.
• 30 Jan 2026: ex-date for an interim dividend of ₹4 a share, record date 31 Jan 2026.
• 4 Jun 2025: Share split: face value cut from ₹10 to ₹2 a share (ex-date).

Our read of the business

Encora adds revenue and disclosed overhead savings, but share issuance, financing and amortization reduce the benefit reaching each share. Signed transformation work provides forward fuel; customer savings become shareholder profit only if pricing and delivery costs preserve the benefit.

Latest quarter: Guidance reaffirmed as board-reporting failures become the immediate test.

Our read after the latest results, written 10 October 2026.

Coforge paid ₹8 a share in regular dividends in the 12 months to 5 November 2026 (2 payments), a yield of 0.39% at the ₹2,060.00 close on 4 November 2026. The last was an interim dividend of ₹4 a share, ex-date 3 August 2026.

Coforge dividends since 1 April 2021

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date.

Yes. Coforge Ltd paid out 34% of its profit as dividends in FY26, and it paid a dividend in 12 of its last 13 reported years.

From the NSE corporate-actions record, read 5 November 2026.

On the call for July to September 2026, held on 23 October 2026, Coforge's management guided: FY27 consolidated EBIT guidance raised from 15.5% to 16%, with Q4 exit at 17%.

“We also plan to achieve a reported Q4 EBIT of 17%, thereby establishing the glide path to further and significant margin expansion in FY28 as well.”Sudhir Singh, CEO, on the call for July to September 2026

What management guided

• FY27 consolidated operating margin 20.5%-21%; steady-state tax 23%-24%.
• FY27 free cash flow-to-profit conversion 100%.
• Q3 deal signings planned at least to match the quarterly count; Encora growth expected to track Coforge.
• Q4 EPS ₹90-₹120; Q3 exceptional expenses zero and hedge losses $7.5 million in Q3 and $1.2 million in Q4.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for July to September 2026, 23 October 2026.

3 changes in Coforge's own numbers look lasting: costs spread over more sales, a bigger order book and more business from existing customers.

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown.

Checked against results and calls up to April to June 2026, 10 October 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.

Management reports executable order book of $2.2 billion versus $1.6 billion; the quoted growth percentage does not reconcile with those rounded endpoints.

✓ fact

Our read after the latest results, written 10 October 2026.

A full-year consolidated EBIT margin below the reaffirmed floor, accompanied by failure to deliver the promised cash conversion despite continued reported revenue growth, would break the thesis.

Each change stops working if

• Encora scale and integration: Acquired-account growth fails to converge with Coforge and overhead savings reverse before the financing burden is absorbed.
• Executable backlog and organic intake: Executable backlog contracts while newly signed work fails to replace delivered revenue.
• AI delivery and commercial-model migration: Customers capture the efficiency through lower billing while token and specialist costs prevent a corresponding cost reduction.

The main risks

• Board reporting and audit closure: Withheld board-evaluation reports and unfinished audit areas require a substantive governance repair. ⚠ estimate
• Elevated margins and optical earnings: Margins are near the upper end of their history, and March profit included a tax benefit. ⚠ estimate
• Dilution, financing and amortization: Acquired scale must earn enough to offset issued equity and acquisition-related charges. ⚠ estimate
• Currency policy and below-operating earnings: The natural-hedging shift leaves the net currency exposure insufficiently quantified. ⚠ estimate

Our read after the latest results, written 10 October 2026.

When Coforge reports October to December 2026, these are the 6 checks that show whether the story is still on course. First: Operating margin stays above 18.5% in the Sep 2026 quarter now that Encora is in for a full quarter, and debtor days do not rise further.

Coforge is on 5 of our India lists: Multibagger study list, Momentum stocks, 52 week high & low, Small & mid cap stocks and IT stocks.

Coforge Ltd earned ₹605 Cr of net profit in the Sep 2026 quarter, +42.4% on the same quarter a year earlier. That is the 9th quarter in a row of profit growth. Full-year FY26 profit was ₹1,745 Cr. Over 10 years profit has grown 19.8% a year on average. That is 9.8% of the quarter's revenue.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

The same quarter a year earlier earned ₹425 Cr.

For the full year, FY26 profit was ₹1,745 Cr (+86.4% on the year before).

Why profit moved: revenue changed +53.7% on a year earlier and the margin moved +1.0 percentage points. Sales did the work, and the margin was about flat.

On average over the last four quarters, profit changed +56.2% and revenue +40.7%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit.

FY27-Q1. Guidance reaffirmed as board-reporting failures become the immediate test

Why-sources: our stock research file (10 October 2026) and the company’s own results for those quarters.

Coforge Ltd reported ₹6,171 Cr of revenue in the Sep 2026 quarter, +53.7% on the same quarter a year earlier. That is the 12th quarter in a row with growth on the year before. Over 10 years it has grown 19.8% a year on average. The last full year, FY26, came in at ₹16,403 Cr.

Revenue is everything the company billed its customers in the period.

Why this happened. The M&A as Earnings Accelerator in Mid-Small Caps model has an observable operating mechanism: Encora contributed revenue and management disclosed lower combined G&A. Those savings are partly delivered already. The remaining contribution depends on acquired-account growth catching up with Coforge, while interest and intangible amortization continue to reduce the benefit reaching shareholders. Integration, overhead savings and acquisition-led volume are one connected driver rather than separate profit pools. Full-year EPS accretion is still unverified.

The last four reported quarters add to ₹20,381 Cr.

FY26 revenue was ₹16,403 Cr, +35.9% on the year before.

Recent pace: the last four quarters grew +40.7% on average, against 19.8% a year over the longer run, so this year is growing faster than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +41.5%, against +42.6% a year over the last 8 quarters (stabilising); profit over the last 12 months grew +56.3%, against +57.6% a year (stabilising).

FY27-Q1. Guidance reaffirmed as board-reporting failures become the immediate test

Why-sources: our stock research file (10 October 2026) and the company’s own results for those quarters.

Coforge Ltd's operating margin was 20.0% in the Sep 2026 quarter, 1.0 percentage points higher than the same quarter a year ago. Its latest full-year margin is the highest it has ever reported. Across 13 years it has been between 14.0% and 18.0%. The latest quarter is above every full year in that period.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why the margin moved: operating margin changed +0.9 percentage points on the year while gross margin changed +0.0 points. So the gain came mostly from costs below the gross margin, such as staff and overheads, measured against sales.

When margins are at a record, every ratio built on profit looks better than usual, so watch whether they hold.

FY27-Q1. Guidance reaffirmed as board-reporting failures become the immediate test

Why-sources: our stock research file (10 October 2026) and the company’s own results for those quarters.

Over the last 3 years, 112% of Coforge Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹1,792 Cr of operating cash against ₹1,745 Cr of profit. After ₹1,347 Cr of spending on assets, ₹445 Cr was left over as free cash.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 112% of profit came in as cash: the cash cycle stayed about the same between FY21 and FY26, so the cash follows profit, not the cycle.

What to look at next: the bigger use of cash is spending on new assets, at 4.2× depreciation over three years. The next section checks what that spending is building.

Coforge Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 88 days in FY26, up from 84 days in FY21. It spent ₹5,853 Cr on assets over the last 3 years.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹16,403 Cr, each day of that cycle ties up about ₹44.9 Cr, so roughly ₹3,955 Cr is tied up in the business at any time.

Spending on assets: ₹5,853 Cr over the last 3 years, against ₹1,407 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹3.0 Cr (FY26): assets paid for that are not earning yet.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

Coforge Ltd's P/E is 42.0×, in the middle of its own history: higher than 67% of past readings. Its usual P/E (the middle reading) is 32.1×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Sep 2026 add up to ₹50.68.