Please look at the following data
Stock Name P/E ratio
1.as per google finance 2.as per rediffmoney 3.as per Utvi bloomberg
Jsw Steel 133.54 34.76 66.15
Jindal steel and power 15.36 5.96 3.04
So there are wide reporting differences in P/E valuation.
I wonder how can I get the correct information of P/E of an Indian company?
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You are right there is no reliable service to get correct financial data and I usually go to find net profit of company in latest quarterly result to find out p/e and that's most reliable I can get.
P/E is very volatile statistics about a stock. It very day to day and time to time. Some of these services are not keeping upto date information about latest quarterly result and there are times when they don't have latest information on shares issued.
If all the data come from single source like Capital IQ in usa we could probably get more reliable data.
I also want to emphasize that p/e is not a most correct way to value a stock. The most correct way to value a stock I think is cash flow.
Here is an example A company X makes sells of 1000 Cr , cost of sells and material is 800cr that means net profit is 200 cr. Not yet ... then it deducts depreciation and tax expenses ( 50 cr ) to come to net profit of 150 cr. But in reality that depreciation doesn't go out to anyone. Hence Net cash in company account should be 200cr or little less .
I a company produces 200cr cash every year I will be willing to pay 1600 cr for that company which means enterprise value of that company should be 1600cr. Now if they have 400cr debt on balance sheet I would think market cap comes to 1200cr. That's all assuming that growth stays stagnant and steady cash flows continues for next 9 years.