Weakened Rupee Boosts Indian IT and Pharma Companies

The Indian rupee's depreciation has become a surprise boon for several companies in sectors such as IT, pharma, textiles, and chemicals. This is because many of these businesses rely heavily on international revenue, which increases in value when the rupee weakens.

Coforge, for instance, derives 61.8% of its revenue from the Americas and another 27% from Europe, making it highly sensitive to currency fluctuations. Similarly, Garware Hi-Tech Films' export share has risen to 75% of total revenue from operations, while Welspun Living's Global B2B segment accounts for nearly 88% of revenue.

Lupin's US market alone contributed 42% of its consolidated sales in FY26, with over 71% of sales coming from outside India. Sun Pharma also saw international markets contribute 66% of its gross sales, while Cipla and Strides Pharma have significant dollar-linked revenue exposure.

Many other companies, including eClerx Services, Divi's Laboratories, HCL Tech, Aurobindo Pharma, Persistent Systems, Apex Frozen Foods, Avanti Feeds, LT Foods, Infosys, TCS, and Dr Reddy's Labs, also benefit from the rupee's weakness due to their significant international revenue streams.