Debasis Mohapatra
Bengaluru, 29 Nov 2025
Top five Indian IT firms- TCS, Infosys, HCLTech, Wipro & Tech Mahindra- are considered as the safest bets for investors for their robust financial health. Here, we do a deep dive into key financial metrics to gauge their financial strength.
Comparison for Q2FY26 (Quarter ended September 2025):
| Particulars | TCS | Infosys | HCLT | Wipro | Tech Mahindra |
| Free Cash Flow | Rs 12,092 crore | Rs 9,677 crore | Rs 5,491 crore | Rs 3,116 crore | $237 million (around Rs 2,085 crore) |
| Operating Cash Flow to Net Profit (%) | 110.1% | NA | 139% | 103.8% | NA |
| SG & A expenses as % of Revenue | 14.4% | 9.75% | 11.9% | Around 13% | 13.68% |
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