Coforge Ltd, established in 1998, is a prominent global IT services provider known for its innovative digital transformation solutions and technology services. Headquartered in New Jersey, USA, Coforge has built a reputation for excellence and agility, delivering a range of services including application development and maintenance, IT infrastructure management, digital transformation, and business process outsourcing. The company caters to a variety of industries such as banking, insurance, healthcare, travel, transportation, and hospitality, tailoring solutions to meet the evolving demands of its diverse client base.
With a significant presence in India, Coforge operates numerous delivery centers across the globe, extending its services to clients in over 20 countries. Its strong global footprint includes major operations in the USA, Europe, and Asia, enabling the company to support clients with localized expertise and 24/7 service capabilities. Through its emphasis on client-centric solutions, Coforge has forged lasting partnerships with businesses worldwide, aiming to create impactful digital experiences that enhance operational efficiency, customer engagement, and business resilience. This strategic focus has positioned Coforge as a key player in the IT services industry, driving growth and digital innovation on a global scale.
Latest News on Coforge Ltd
Coforge Ltd recently announced a significant move to reward its shareholders, with the company’s board approving a second interim dividend of ₹19 per share. This declaration underscores Coforge’s commitment to delivering consistent value to its investors while reinforcing its confidence in the company’s financial stability and growth outlook. The dividend announcement comes as part of Coforge’s broader strategy to maintain strong shareholder relations by distributing a portion of its earnings back to investors.
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | |
| Promoters + | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| FIIs + | 34.37% | 34.04% | 35.00% | 41.43% | 42.09% |
| DIIs + | 54.28% | 55.02% | 54.29% | 47.29% | 48.15% |
| Public + | 11.35% | 10.95% | 10.69% | 11.28% | 9.75% |
| No. of Shareholders | 1,23,330 | 1,17,844 | 1,26,739 | 1,63,357 | 1,37,768 |
Coforge Ltd has shown a distinct trend in its shareholding patterns over the past five quarters, reflecting the evolving interests of institutional and public investors. As of September 2024, the promoter shareholding remains steady at 0%, indicating no promoter stake, which is consistent over the observed period. However, foreign institutional investors (FIIs) have significantly increased their stake, rising from 34.37% in September 2023 to 42.09% in September 2024. This trend indicates growing international confidence in Coforge Ltd’s potential and performance.
Domestic institutional investors (DIIs) maintain a substantial position, though their shareholding decreased from 54.28% in September 2023 to 48.15% by September 2024, possibly reallocating funds as FII interest rose. Public shareholding saw a slight decline from 11.35% in September 2023 to 9.75% by September 2024, suggesting a shift towards more institutional control. Meanwhile, the number of shareholders fluctuated, peaking at 1,63,357 in June 2024 before settling at 1,37,768 in September 2024, reflecting dynamic market participation.
Below are the trading platforms that you can use to purchase Coforge Ltd shares:
- Zerodha
- Upstox
- Groww
- AngelOne
- ICICIDirect
| When | Maximum Price | Minimum Price |
| November 2024 | 8,170.95 | 7,105.18 |
| December 2024 | 8,252.66 | 7,176.23 |
As we approach the end of 2024, Coforge Ltd’s share prices are expected to demonstrate continued strength. In November, projections indicate a maximum price of approximately ₹8,170.95 and a minimum price around ₹7,105.18. Moving into December, the forecast suggests a slight upward trend, with the maximum price anticipated to reach ₹8,252.66, while the minimum price is projected at ₹7,176.23. These expected price ranges reflect Coforge Ltd’s stable market position and ongoing investor confidence.
| When | Maximum Price | Minimum Price |
| January 2025 | 8,335.19 | 6,411.68 |
| February 2025 | 8,419.38 | 6,476.45 |
| March 2025 | 8,596.19 | 6,612.45 |
| April 2025 | 8,511.08 | 6,546.98 |
| May 2025 | 8,263.18 | 6,356.30 |
| June 2025 | 8,635.03 | 6,642.33 |
| July 2025 | 8,465.71 | 6,512.09 |
| August 2025 | 8,727.54 | 6,713.49 |
| September 2025 | 8,832.27 | 6,794.05 |
| October 2025 | 9,061.91 | 6,970.70 |
| November 2025 | 9,288.46 | 7,144.97 |
| December 2025 | 9,706.44 | 7,466.49 |
As we move through 2025, Coforge Ltd’s share prices are projected to rise steadily. January may start with a maximum of ₹8,335.19 and a minimum of ₹6,411.68. By mid-year, prices are expected to fluctuate, with March reaching ₹8,596.19 and June possibly hitting ₹8,635.03 at the high end. The upward trend may continue into August, with forecasts between ₹8,727.54 and ₹6,713.49, and by October, prices might range from ₹9,061.91 to ₹6,970.70. November could see shares reaching ₹9,288.46, and December is likely to close the year with a maximum price of ₹9,706.44 and a minimum of ₹7,466.49, highlighting a promising trajectory for Coforge Ltd.
| When | Maximum Price | Minimum Price |
| January 2026 | 9,997.63 | 7,690.49 |
| February 2026 | 9,747.69 | 7,498.22 |
| March 2026 | 9,942.64 | 7,648.19 |
| April 2026 | 10,145.56 | 7,804.27 |
| May 2026 | 10,045.10 | 7,727.00 |
| June 2026 | 10,296.23 | 7,920.18 |
| July 2026 | 10,094.34 | 7,764.88 |
| August 2026 | 10,406.54 | 8,005.03 |
| September 2026 | 10,614.67 | 8,165.13 |
| October 2026 | 10,890.65 | 8,377.43 |
| November 2026 | 11,162.92 | 8,586.86 |
| December 2026 | 11,441.99 | 8,801.53 |
| When | Maximum Price | Minimum Price |
| January 2027 | 11,556.41 | 8,889.55 |
| February 2027 | 11,852.73 | 9,117.49 |
| March 2027 | 12,314.99 | 9,473.07 |
| April 2027 | 12,073.52 | 9,287.32 |
| May 2027 | 11,721.86 | 9,016.82 |
| June 2027 | 12,249.34 | 9,422.57 |
| July 2027 | 12,009.16 | 9,237.82 |
| August 2027 | 12,380.58 | 9,523.52 |
| September 2027 | 12,813.90 | 9,856.85 |
| October 2027 | 13,147.06 | 10,113.12 |
| November 2027 | 13,475.74 | 10,365.95 |
| December 2027 | 13,812.63 | 10,625.10 |
| When | Maximum Price | Minimum Price |
| January 2028 | 14,088.88 | 10,837.60 |
| February 2028 | 14,450.14 | 11,115.49 |
| March 2028 | 15,013.69 | 11,548.99 |
| April 2028 | 14,719.31 | 11,322.54 |
| May 2028 | 14,290.59 | 10,992.76 |
| June 2028 | 14,933.66 | 11,487.43 |
| July 2028 | 14,640.85 | 11,262.19 |
| August 2028 | 15,093.66 | 11,610.51 |
| September 2028 | 15,621.94 | 12,016.87 |
| October 2028 | 16,028.11 | 12,329.31 |
| November 2028 | 16,428.81 | 12,637.54 |
| December 2028 | 16,839.53 | 12,953.48 |
| When | Maximum Price | Minimum Price |
| January 2029 | 17,176.32 | 13,212.55 |
| February 2029 | 17,616.74 | 13,551.34 |
| March 2029 | 18,303.79 | 14,079.84 |
| April 2029 | 17,944.89 | 13,803.76 |
| May 2029 | 17,422.23 | 13,401.71 |
| June 2029 | 18,206.23 | 14,004.79 |
| July 2029 | 17,849.24 | 13,730.19 |
| August 2029 | 18,401.28 | 14,154.83 |
| September 2029 | 19,045.32 | 14,650.25 |
| October 2029 | 19,540.50 | 15,031.16 |
| November 2029 | 20,029.02 | 15,406.93 |
| December 2029 | 20,529.74 | 15,792.11 |
| When | Maximum Price | Minimum Price |
| January 2030 | 20,940.34 | 16,107.95 |
| February 2030 | 21,477.27 | 16,520.97 |
| March 2030 | 22,314.88 | 17,165.29 |
| April 2030 | 21,877.33 | 16,828.72 |
| May 2030 | 21,240.13 | 16,338.56 |
| June 2030 | 22,195.94 | 17,073.80 |
| July 2030 | 21,760.72 | 16,739.02 |
| August 2030 | 22,433.73 | 17,256.72 |
| September 2030 | 23,218.91 | 17,860.70 |
| October 2030 | 23,822.61 | 18,325.08 |
| November 2030 | 24,418.17 | 18,783.21 |
| December 2030 | 25,028.63 | 19,252.79 |
As we step through 2030, Coforge Ltd’s stock prices are expected to show substantial growth. January could open with a high of ₹20,940.34 and a low of ₹16,107.95. February may bring further increases, reaching between ₹21,477.27 and ₹16,520.97, while March might peak at ₹22,314.88. Mid-year projections suggest June prices could vary from ₹22,195.94 to ₹17,073.80. By September, prices are anticipated to climb, ranging from ₹23,218.91 to ₹17,860.70, and October may see levels between ₹23,822.61 and ₹18,325.08. As we step into November, forecasts suggest a high of ₹24,418.17, with December potentially closing the year at an impressive maximum of ₹25,028.63 and a minimum of ₹19,252.79, reflecting strong momentum for Coforge Ltd.
Financial Condition of Coforge Ltd: Last 5 years
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
| Sales + | 4,184 | 4,663 | 6,432 | 8,015 | 9,179 | 10,145 |
| Expenses + | 3,459 | 3,882 | 5,330 | 6,733 | 7,751 | 8,659 |
| Operating Profit | 725 | 781 | 1,102 | 1,282 | 1,428 | 1,486 |
| OPM % | 17% | 17% | 17% | 16% | 16% | 15% |
| Other Income + | 59 | 13 | 52 | 8 | 61 | 118 |
| Interest | 16 | 14 | 65 | 81 | 126 | 134 |
| Depreciation | 173 | 184 | 227 | 258 | 319 | 372 |
| Profit before tax | 595 | 596 | 862 | 951 | 1,045 | 1,098 |
| Tax % | 21% | 22% | 17% | 22% | 20% | |
| Net Profit + | 468 | 466 | 715 | 745 | 836 | 845 |
| EPS in Rs | 71.05 | 75.19 | 108.65 | 113.58 | 130.7 | 125.02 |
| Dividend Payout % | 44% | 17% | 48% | 56% | 58% |
Coforge Ltd has shown consistent growth in its financial performance over the past five years, demonstrating its resilience and ability to scale its operations. The company’s sales have steadily increased from ₹4,184 crore in March 2020 to ₹9,179 crore in March 2024, with the trailing twelve months (TTM) figure reaching ₹10,145 crore. This growth is mirrored by an increase in expenses, rising from ₹3,459 crore in March 2020 to ₹7,751 crore by March 2024, reflecting Coforge Ltd’s expanding operations and higher costs associated with its growth trajectory.
Operating profit has also shown a steady rise, from ₹725 crore in March 2020 to ₹1,428 crore in March 2024, although the operating profit margin (OPM) declined slightly from 17% to 15% in the TTM, suggesting increased competitive pressure and rising operational costs. Net profit rose from ₹468 crore in March 2020 to ₹836 crore in March 2024, reflecting strong earnings growth.
Other income contributed positively, particularly in the TTM period, which saw a rise to ₹118 crore, while interest and depreciation expenses also increased, indicating Coforge Ltd’s continued investment in growth and infrastructure. The company’s earnings per share (EPS) increased significantly from ₹71.05 in March 2020 to ₹130.7 in March 2024, signifying enhanced shareholder value. Additionally, the dividend payout ratio rose from 44% in 2020 to 58% by 2024, reflecting Coforge Ltd’s commitment to returning value to its shareholders alongside its growth.
FAQS
As of October 26th, 2024, the current share price of Coforge Ltd is ₹7,740.
According to our analysis, Coforge Ltd could reach a maximum of ₹9,706.44 by the end of 2025.
The share price target for Coforge Ltd in 2030 is projected to range between ₹16,107.95 and ₹25,028.63.
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Conclusion
In conclusion, Coforge Ltd’s strong financial growth, global presence, and commitment to innovation have made it a noteworthy player in the IT services industry. The company’s shareholding trends indicate increasing interest from foreign institutional investors, highlighting its appeal on an international level. Its consistent dividend payouts, including the recent ₹19 per share, demonstrate a commitment to shareholder value. Projected share prices for 2024 to 2030 show an upward trend, reflecting sustained market confidence. Coforge’s financial trajectory, with notable increases in sales and operating profit, underscores its potential for continued success in the competitive IT sector.
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