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Today's prices ask more of Wipro than of Infosys.
At current prices, buyers of Infosys are assuming about 0% growth against 8% in its own record; for Wipro it is 0% against 3%. That shows which share needs more to go right — not which is cheaper. How far each trades from its estimated fair value is in the full valuations.
- Valuation method: both on discounted cash flow.
- Size: Infosys is worth about 2.4 times Wipro on the stock market.
- Record: Infosys has grown revenue faster: Infosys compounded at about 12% a year (FY2019–FY2026) and Wipro at about 7% (FY2019–FY2026).
- What to watch: large deal wins at Infosys; deal wins at Wipro.
| Infosys | Wipro | |
|---|---|---|
| Price | ₹1,142 | ₹195 |
| Market cap | ₹4.63L Cr | ₹1.93L Cr |
| P/E | 15.0 | 14.6 |
| P/B | 4.98 | 2.19 |
| Fair value 🔒 sign in | ₹0,000 | ₹0,000 |
| Upside 🔒 sign in | +00% | +00% |
| Valued on | Discounted cash flow | Discounted cash flow |
01Two businesses
What Infosys sells, and to whom
Infosys, founded in Pune in 1981 by N. R. Narayana Murthy and six co-founders and now based in Bengaluru, is India's second-largest IT services company. It runs digital transformation, cloud, data and AI programmes for large companies, mainly in North America and Europe, and owns Finacle, a core-banking platform used by banks worldwide.
From vegetable oil to IT services
Wipro began as a vegetable-oil company in 1945 and became one of India's largest IT services firms under Azim Premji, whose family still owns the majority of its shares. It provides consulting, cloud, engineering and managed services to large companies, mostly in the US and Europe.
02The records side by side
Infosys has grown revenue faster: Infosys compounded at about 12% a year (FY2019–FY2026) and Wipro at about 7% (FY2019–FY2026). By revenue, Infosys is about 1.9 times the size of Wipro. Infosys kept 16.5% of revenue as net profit in FY2026; Wipro kept 14.3% of revenue as net profit in FY2026.
Full ten-year tables and charts are on each company's page: Infosys · Wipro.
03What each price assumes
Work backwards from each share price and you can see what buyers are taking for granted — the rate each company must sustain to justify what it costs, against what its own record supports.
04What decides each one's value
- Large deal winsBig multi-year contracts give visibility, but they often start at lower margins.
- Operating marginWage increases and pricing pressure can push margins below the company's own target range.
- Deal winsLarge contract wins are the clearest sign that growth is returning.
- ConsultingCapco and other consulting work are discretionary and swing with client budgets.
05What could go wrong
- Financial-services concentrationBanks are its largest client group, so a banking slowdown hits Infosys first.
- AI deflationAutomation could shrink the hours clients pay for faster than new AI work replaces them.
- Further slowdownClients may keep shifting spending to larger rivals.
- Leadership changesFrequent reorganisations can unsettle clients and staff.
06Which is better value?
Sign in free to see which trades further below its worth
- ✓Both fair values per share — each on the method that fits the business
- ✓Every step of both workings — growth, margins and cost of capital, with sources
- ✓Bull, base and bear cases — for each company
- ✓Downloadable reports — the full write-up for each, yours to keep
08Questions people ask
Is Infosys or Wipro better value?
That turns on how far each share trades from its estimated fair value. Both figures, with every step of the working, are in the full valuations, free to view once you sign in. On the public numbers, Infosys trades at 15.0 times earnings and 4.98 times book value, and Wipro at 14.6 times earnings and 2.19 times book value — but multiples alone mislead when two businesses work differently, which is why each is valued on the method that fits it.
What is the difference between Infosys and Wipro?
Infosys, founded in Pune in 1981 by N. Wipro began as a vegetable-oil company in 1945 and became one of India's largest IT services firms under Azim Premji, whose family still owns the majority of its shares.
Are Infosys and Wipro valued the same way?
Yes — both on discounted cash flow, so their workings compare like for like.
What does today's price assume for Infosys and Wipro?
Worked backwards from the share price, Infosys needs about 0% growth and Wipro about 0% growth, against 8% and 3% in their own records.