HCL Technologies Ltd
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 of services including software-led IT solutions, remote infrastructure management, engineering and R&D services and BPO. The company leverages its extensive global offshore infrastructure and network of offices in 46 countries to provide multi-service delivery in key industry verticals.
Strengths
- +Company is almost debt free.
- +Stock is providing a good dividend yield of 4.72%.
- +Company has a good return on equity (ROE) track record: 3 Years ROE 33.5%
- +Company has been maintaining a healthy dividend payout of 149%
- +Debtor days have improved from 77.9 to 36.7 days.
Weaknesses
- −Stock is trading at 11.9 times its book value
- −The company has delivered a poor sales growth of 9.06% over past five years.
Shareholding Pattern
| Category | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters | 60.82% | 60.82% | 60.82% | 60.82% | 60.82% | 60.82% | 60.82% | 60.86%▲0.0 |
| FIIs | 18.45% | 18.67%▲0.2 | 19.38%▲0.7 | 19.15%▼0.2 | 18.56%▼0.6 | 16.64%▼1.9 | 16.21%▼0.4 | 15.51%▼0.7 |
| DIIs | 15.77% | 15.78%▲0.0 | 15.21%▼0.6 | 15.44%▲0.2 | 16.17%▲0.7 | 17.8%▲1.6 | 18.37%▲0.6 | 18.95%▲0.6 |
| Public | 4.65% | 4.53%▼0.1 | 4.42%▼0.1 | 4.37%▼0.0 | 4.24%▼0.1 | 4.41%▲0.2 | 4.26%▼0.2 | 4.36%▲0.1 |
Financial Statements
| Metric | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 12,531 | 12,077 | 11,784 | 12,615 | 13,274 | 13,432 | 13,073 | 13,829 | 15,239 | 12,890 |
| Expenses | 7,694 | 8,034 | 8,086 | 7,994 | 8,287 | 9,022 | 8,900 | 9,597 | 9,849 | 9,626 |
| Operating Profit | 4,837 | 4,043 | 3,698 | 4,621 | 4,987 | 4,410 | 4,173 | 4,232 | 5,390 | 3,264 |
| OPM % | 39% | 33% | 31% | 37% | 38% | 33% | 32% | 31% | 35% | 25% |
| Net Profit | 3,349 | 2,763 | 2,479 | 3,216 | 3,526 | 3,045 | 2,888 | 2,657 | 2,982 | -900 |
| EPS ₹ | 12.34 | 10.18 | 9.14 | 11.85 | 12.99 | 11.22 | 10.64 | 9.79 | 10.99 | -3.32 |
AI Insights
Mar 2026 revenue at ₹55,031Cr, up 7.7% YoY. OPM at 31%.
Borrowings at ₹988Cr. Debt-to-equity ratio: 0.04x. Healthy balance sheet.
CWIP at ₹14Cr (0% of fixed assets). Moderate ongoing capital expenditure.
DIIs: 18.95% (+3.62pp change). FIIs: 15.51% (-3.47pp change). Promoters hold 60.86%.
ROCE improving from 43% (Jun 2015) to 54% (Mar 2026). Working capital days: 32.
PE 24.8x with 53.9% ROCE. Price is 1096% above book value of ₹95.4. Dividend yield: 4.74%.
Recent Announcements
- Release - 'Hcltech Collaborates With Red Hat To Deliver Enterprise-Grade AI Infrastructure Solutions' 14 May - HCLTech and Red Hat collaborate on enterprise-grade AI infrastructure solutions via HCLTech AI Factory.
- Compliances-Reg.24(A)-Annual Secretarial Compliance 13 May - Filed Annual Secretarial Compliance Report for FY ended March 31, 2026.
- Announcement under Regulation 30 (LODR)-Newspaper Publication 12 May - Enclosed please find Newspaper Advertisements - Disclosure under Regulation 30 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015.
- Shareholder Meeting / Postal Ballot-Notice of Postal Ballot 11 May
- Intimation Of Participation By The Company In Investor Conferences 7 May - HCL Technologies to participate in four investor conferences during May-June 2026.
- Financial Year 2025 from bse
- Financial Year 2024 from bse
- Financial Year 2023 from bse