HCL Technologies Ltd (HCLTECH) — Share Price, Financials & Ratios

Key Fundamentals

LargecapComputer Software & ConsultingInformation Technology

Market Cap

3.1L Cr

Volatility

Moderate

P/E Ratio

17.95

EBITDA

₹25,796 Cr

Return on Equity

23.01%

Debt to Equity

0.09

Book Value

₹276.99

EPS

₹60.53

52W High

₹1,780.1

52W Low

₹1,089.5

Technical Indicators

Key Insights

Strengths

3

Company is almost debt free.
Stock is providing a good dividend yield of 4.85%.
Company has been maintaining a healthy dividend payout of 90.6%

Weaknesses

1

The company has delivered a poor sales growth of 11.5% over past five years.

Growth Rate

Revenue Growth

8.87% ↗

Net Income Growth

-2.31% ↘

Cash Flow Change

-0.83% ↘

ROE

8.52% ↘

ROCE

10.42% ↗

EBITDA Margin (Avg.)

-16.32% ↘

AI Analysis — Bull vs Bear

anthropic

claude-opus-4.6 3d ago

HOLD

Risk medium

HCL Technologies trades at a reasonable PE of 18.9x with a consistent 24% ROE and near-zero debt, but the stock has declined 35% over the past year and profit growth has slowed to just 1% TTM. The attractive 4.77% dividend yield provides downside support, but tepid earnings momentum and mixed analyst sentiment (only 30% Buy ratings) warrant patience before fresh entry.

Bull Case 8

Company is virtually debt-free, providing strong balance sheet resilience and financial flexibility in a cyclical IT spending environment
Consistent ROE of 24% maintained across 1-year, 3-year, 5-year, and 10-year periods demonstrates durable capital efficiency
Attractive dividend yield of 4.77% with a healthy payout ratio of 90.6%, offering meaningful income to shareholders
PE ratio of 18.9x is reasonable relative to large-cap Indian IT peers, suggesting limited downside from current valuation
Compounded sales growth of 12% over 5 years and 15% over 10 years reflects steady revenue compounding
TTM revenue growth of 11% indicates continued demand traction despite global macro headwinds
Market cap of Rs 3,00,945 crore reflects large-cap stability with institutional ownership support
10-year stock CAGR of 11% demonstrates long-term wealth creation track record despite recent weakness

Bear Case 8

Stock has declined 35% over the past 1 year, indicating severe negative momentum and possible structural de-rating
TTM compounded profit growth of just 1% signals margin pressure and earnings stagnation
Only 30% of analysts have a Buy rating while 30% recommend Sell, reflecting divided Street confidence
3-year stock CAGR of -1% shows the stock has destroyed value for medium-term investors
5-year compounded profit growth of 10% lags 5-year sales growth of 12%, indicating gradual margin dilution
Sales growth of 11.5% over five years is considered poor relative to sector peers and company's own 10-year growth of 15%
Price-to-book ratio of 4.19x is elevated for a company with decelerating earnings growth
40% of analysts recommend Hold, suggesting limited near-term catalysts for re-rating

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

anthropic

claude-opus-4.6 1d ago

Headwinds 1

Expected loss of Xerox BPM contract Jun 1

HCLTech is expected to lose a significant Business Process Management contract with Xerox, impacting employees on the engagement. No financial figures disclosed yet.

Positives 8

₹1,427 Cr Sarvam AI investment Jun 16

HCLTech invested ₹1,427.25 crore for 10.46% stake in Sarvam AI to build industry-specific LLMs and multilingual AI. Nomura maintained Buy with ₹1,600 target price.
Leader in ISG SAP Ecosystem 2026 Jun 23

HCLTech recognized as Leader in four ISG Provider Lens SAP Ecosystem 2026 quadrants for the U.S. region.
Market Shaper in Gartner Physical AI Jun 18

HCLTech named Market Shaper in 2026 Gartner Emerging Market Quadrant for Physical AI Services with full-stack portfolio spanning Intelligent Systems and Kinetic AI.
AI Innovation Zones launched Jun 18

HCLTech launched AI Innovation Zones in Chennai (with Intel) and Santa Clara (with Google Cloud using Gemini Enterprise) to accelerate enterprise AI adoption.
Autonomous Finance Platform launch May 27

HCLTech launched autonomous finance platform integrating Google Cloud's Gemini Enterprise to automate finance operations.
HPE Storage Partner of Year 2026 Jun 16

HCLTech recognized as HPE Storage Partner of the Year 2026 for enterprise storage, hybrid cloud, and data resilience solutions.
New Independent Director appointed Jun 10

Ms. Kimsuka Narsimhan appointed Independent Director with 99.76% shareholder votes in favour via postal ballot.
$1M climate grant awarded Jun 5

HCLTech awarded $1 million to three nonprofits in the Americas supporting water security and biodiversity conservation.

Neutral 7

TM Forum AI network collaboration Jun 24

HCLTech collaborates with Circles and GreySkies under TM Forum Catalyst Program for AI-led autonomous network operations, partnering with KDDI, Orange, and TELUS.
Volkswagen e.solutions partnership Jun 17

Multi-year strategic partnership with Volkswagen Group's e.solutions for AI-enabled Android Automotive infotainment and HMI software across multiple vehicle programs.
₹45.56 Cr block trade on NSE Jun 19

Block trade of ~408,020 shares at ₹1,116.50 per share worth ₹45.56 crore executed on NSE, indicating continued institutional interest.
Cybersecurity Fusion Center in Canada Jun 10

Launched 10th global Cybersecurity Fusion Center in Mississauga on Jun 9, 2026, delivering AI-driven security operations as part of expansion-by-2030 strategy.
Pegasystems AI modernization deepened May 26

Expanded collaboration with Pegasystems integrating HCLTech AI Force and Pega Blueprint to modernize legacy systems into cloud-native applications.
Trading window closed for Q1FY26 Jun 16

Trading window closed from Jun 25 until 48 hours after Q1FY26 results on Jul 13, 2026, per insider trading regulations.
No promoter share encumbrance in FY26 Jun 2

Promoters declared zero encumbrance of shares during FY26 under SEBI Takeover Regulations disclosure to NSE.

TL;DR: HCLTech is executing an aggressive AI-first strategy with multiple innovation zones, a landmark ₹1,427 Cr investment in Sarvam AI, and strong analyst backing (Nomura Buy, ₹1,600 target). Industry recognitions from ISG, Gartner, and HPE reinforce its competitive positioning. The expected loss of the Xerox BPM contract is the sole notable headwind but lacks financial quantification. Overall trend is strongly positive with Q1FY26 results on Jul 13 being the next key catalyst.

Quarterly Results

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Sales	26,606	26,296	26,672	28,446	28,499	28,057	28,862	29,890	30,246	30,349	31,942	33,872	33,981
Expenses	20,743	20,931	20,743	21,659	22,382	22,264	22,493	23,030	23,764	24,314	25,397	26,460	27,269
Operating Profit	5,863	5,365	5,929	6,787	6,117	5,793	6,369	6,860	6,482	6,035	6,545	7,412	6,712
OPM %	22%	20%	22%	24%	21%	21%	22%	23%	21%	20%	20%	22%	20%
Other Income	453	344	365	370	416	1,103	456	477	449	456	415	-571	322
Interest	94	86	156	140	171	191	131	166	156	209	215	205	240
Depreciation	1,027	927	1,010	1,143	1,093	998	1,007	1,039	1,040	1,093	1,043	1,127	1,092
PBT	5,195	4,696	5,128	5,874	5,269	5,707	5,687	6,132	5,735	5,189	5,702	5,509	5,702
Tax %	23%	25%	25%	26%	24%	25%	26%	25%	25%	26%	26%	26%	21%
Net Profit	3,981	3,531	3,833	4,351	3,995	4,259	4,237	4,594	4,309	3,844	4,236	4,082	4,490
EPS in Rs	14.68	13.02	14.12	16.03	14.69	15.69	15.61	16.92	15.87	14.16	15.61	15.02	16.54

Show % Change

Figures in ₹ Crores

Profit & Loss

	Jun 2015	Mar 2016 9m	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Sales	36,701	31,136	47,568	50,569	60,427	70,676	75,379	85,651	1,01,456	1,09,913	1,17,055	1,30,144
Expenses	28,215	24,482	37,178	39,323	46,501	53,360	55,331	65,122	78,828	85,715	91,551	1,03,392
Operating Profit	8,486	6,654	10,390	11,246	13,926	17,316	20,048	20,529	22,628	24,198	25,504	26,752
OPM %	23%	21%	22%	22%	23%	24%	27%	24%	22%	22%	22%	21%
Other Income	1,126	871	1,069	1,230	943	589	927	1,067	1,358	1,495	2,485	574
Interest	91	74	89	69	174	505	511	319	353	553	644	869
Depreciation	404	410	828	1,383	2,073	3,420	4,611	4,326	4,145	4,173	4,084	4,355
PBT	9,117	7,041	10,542	11,024	12,622	13,980	15,853	16,951	19,488	20,967	23,261	22,102
Tax %	20%	20%	18%	21%	20%	21%	30%	20%	24%	25%	25%	25%
Net Profit	7,342	5,602	8,606	8,722	10,120	11,057	11,169	13,523	14,845	15,710	17,399	16,652
EPS in Rs	26.02	19.86	30.16	31.32	37.31	40.75	41.07	49.74	54.73	57.86	64.08	61.33
Div. Payout %	58%	40%	40%	19%	11%	25%	24%	84%	88%	90%	94%	88%

Show % Change

Figures in ₹ Crores

Balance Sheet

	Jun 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	281	282	285	278	271	543	543	543	543	543	543	543
Reserves	23,943	27,109	32,664	36,108	41,095	50,724	59,370	61,371	64,862	67,720	69,112	74,622
Borrowings	648	1,090	582	557	4,195	7,986	6,864	6,343	4,794	5,758	6,276	5,215
Other Liabilities	10,372	10,859	12,231	11,046	12,788	23,566	19,270	20,664	23,051	24,985	28,549	35,878
Total Liabilities	35,245	39,341	45,762	47,989	58,349	82,819	86,047	88,921	93,250	99,006	1,04,480	1,16,258
Fixed Assets	8,275	9,716	15,235	18,753	22,888	37,490	37,145	35,077	34,619	35,063	36,172	37,379
CWIP	552	611	448	320	235	400	312	129	40	108	59	60
Investments	869	698	1,306	2,660	2,305	7,066	6,862	6,351	5,495	7,137	7,564	7,090
Other Assets	25,548	28,315	28,773	26,256	32,921	37,863	41,728	47,364	53,096	56,698	60,685	71,729
Total Assets	35,245	39,341	45,762	47,989	58,349	82,819	86,047	88,921	93,250	99,006	1,04,480	1,16,258

Show % Change

Figures in ₹ Crores

Cash Flow

	Jun 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating	5,539	3,823	8,995	8,328	8,971	13,359	19,618	16,900	18,009	22,448	22,261	19,975
Investing	-2,088	-2,208	-3,890	-2,236	-3,256	-12,332	-5,665	1,597	-3,573	-6,608	-4,896	-1,473
Financing	-3,140	-2,237	-4,517	-5,714	-1,471	-3,168	-11,192	-14,508	-15,881	-15,464	-18,561	-19,369
Net Cash Flow	311	-623	588	378	4,244	-2,141	2,761	3,989	-1,445	376	-1,196	-867
Free Cash Flow	4,338	3,074	5,184	3,007	5,537	11,530	17,865	15,345	16,565	21,432	21,178	18,576
CFO/OP	86	79	106	95	83	92	115	99	96	110	104	90

Show % Change

Figures in ₹ Crores

Ratios

	Jun 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	65	91	64	70	71	73	85	88	92	85	81	66
Cash Conversion Cycle	65	91	64	70	71	73	85	88	92	85	81	66
Working Capital Days	25	62	38	58	44	14	48	44	43	31	17	43
ROCE %	40%	28%	34%	31%	31%	27%	26%	25%	28%	30%	32%	31%

Show % Change

Shareholding Pattern

	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Promoters	60.33%	60.33%	60.33%	60.33%	60.71%	60.71%	60.71%	60.71%	60.81%	60.81%	60.81%	60.81%	60.81%	60.81%	60.81%	60.81%	60.81%	60.81%	60.81%	60.81%	60.86%
FIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	18.80%	0.00%	19.65%	18.45%	18.67%	19.38%	19.14%	18.56%	16.64%	16.22%	15.51%
DIIs	10.33%	11.18%	12.32%	13.54%	14.56%	15.40%	15.74%	15.89%	15.31%	15.37%	15.65%	14.23%	14.99%	15.80%	15.81%	15.24%	15.48%	16.21%	17.84%	18.41%	18.99%
Government	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Public	3.22%	3.42%	3.23%	3.47%	3.71%	3.92%	4.20%	3.83%	3.68%	3.59%	3.54%	3.46%	3.41%	3.68%	3.49%	3.42%	3.37%	3.24%	3.38%	3.25%	3.12%
Others	26.10%	25.05%	24.11%	22.64%	21.01%	19.94%	19.35%	19.57%	20.19%	20.22%	1.20%	21.50%	1.14%	1.25%	1.22%	1.14%	1.19%	1.17%	1.33%	1.31%	1.53%
No. of Shareholders	5,17,847	6,35,949	6,53,592	7,78,112	9,08,055	9,95,796	10,89,320	9,91,548	9,40,079	9,09,359	8,79,120	8,52,902	8,55,960	9,50,147	8,75,164	8,68,735	8,80,722	8,85,835	9,29,235	8,82,505	8,77,717

Show % Change

Documents

1

Concall - Dec 2018 Dec 2018

PPT

2

Concall - Jul 2025 Jul 2025

Transcript PPT Recording

3

Concall - Oct 2025 Oct 2025

Transcript PPT Recording

4

Concall - Apr 2026 Apr 2026

Transcript PPT Recording

5

Concall - Aug 2015 Aug 2015

Transcript PPT

Frequently Asked Questions about HCL Technologies Ltd

What does HCL Technologies Ltd do?

HCL Tech is a leading global IT services company, which is ranked amongst the top five Indian IT services companies in terms of revenues. Since its inception into the global landscape after its IPO in 1999, HCL Tech has focused on transformational outsourcing, and offers an integrated portfolio o...

Where is HCL Technologies Ltd (HCLTECH) listed?

HCL Technologies Ltd is listed on the Indian stock exchanges. It is listed on NSE: HCLTECH and BSE: 532281. You can view its live share price, financials, and ratios on Tapetide.

Which sector does HCL Technologies Ltd belong to?

HCL Technologies Ltd operates in the Information Technology sector within the IT - Software industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.

What is the market capitalisation of HCL Technologies Ltd?

HCL Technologies Ltd has a market capitalisation of approximately ₹305043.09 Cr. Based on this, it is classified as a Large Cap stock.

What is the PE ratio of HCL Technologies Ltd?

The Price-to-Earnings (PE) ratio of HCL Technologies Ltd is 17.95. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.

What is the 52-week high and low of HCL Technologies Ltd?

Over the past 52 weeks, HCL Technologies Ltd has traded between a low of ₹1,089.5 and a high of ₹1,780.1. This range helps investors understand the stock's price volatility and recent trading levels.

Does HCL Technologies Ltd pay dividends?

Yes, HCL Technologies Ltd has a dividend yield of 2.15%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.

What is the Return on Equity (ROE) of HCL Technologies Ltd?

HCL Technologies Ltd has a Return on Equity (ROE) of 23.01%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.

How can I research HCL Technologies Ltd on Tapetide?

On Tapetide, you can view HCL Technologies Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.