HCL Technologies Ltd.

HCLTECH

₹1637.7

0.32% (5.3)

Market Cap

₹4,44,336 Cr.

P/E

25.55

About

HCL Technologies Limited offers a wide array of IT, business services, engineering, R&D services, and software products. They specialize in digital, engineering, cloud, and AI solutions across various… Read more

HCL Technologies Limited offers a wide array of IT, business services, engineering, R&D servic… Read more

Low

1303

52W Range

High

2012

Timeline

Key company specific updates

Company Timeline

Custom financial statementNew

Edit rows

In Rs. Cr.	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025

In Rs. Cr.	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Balance sheet
Net Block	9,716	15,235	18,753	22,888	37,490	37,145	35,077	34,619	35,063	33,156
Shareholders Funds	27,391	32,949	36,386	41,366	51,267	59,913	61,914	65,405	68,263	69,655
Profit & Loss
Operating Profit	6,654	10,379	11,239	13,916	17,286	20,025	20,526	22,624	24,180	25,504
Net Sales	31,136	47,568	50,569	60,427	70,676	75,379	85,651	1,01,456	1,09,913	1,17,055
Cash flow
Cash from Operating Activity	3,823	8,995	8,328	8,971	13,359	19,618	16,900	18,009	22,448	22,261
Net Capex (est)	748	3,811	5,321	3,434	1,829	1,753	1,555	1,444	1,016	1,083
Ratios
ROCE (%)	25.67	32.43	30.71	29.20	25.48	24.20	25.00	28.05	28.31	—
ROE (%)	20.45	26.12	23.97	24.46	21.57	18.60	21.80	22.71	23.00	—

Forensics

11 Yes

Positive for this company

2 Neutral

Neutral for this company

4 No

Negative for this company

0 No Data

Insufficient data to analyse

Accounting & Shareholding

Contingent Liabilities

Company does not have significant contingent liabilities
Other Income

Other income is not affecting ratios of the company
Pledge

Promoters have not pledged a significant portion of their holding
Retail Holding

Retail has been selling the stock which is usually a good time to buy
Revenue Recognition

Company is converting accounting profit to cash
Promoter Holding

Promoter has not sold any shares in the last 90 days
Depreciation Effect

Company is depreciating a lower percentage of assets. this is contributing to an increase in net profit

Price & Performance

Capex vs ROCE

Roce of the company has increased over the last three years
ROE

Asset turnover is responsible for roe increase over last 10 years
Share price

Share price has increased over last 10 years due to earnings
Working Capital

Working capital of the company seems to be under control
Debt

Company should not have issues servicing its debt
ROCE Strength

Roce of the company is consistently strong
Balance Sheet Strength

Balance sheet of the company is strong. but it might have issues paying it suppliers
Current vs Historic Valuation

Company is trading at a premium to 3yr historic valuations
Sales Growth

Sales of the company has grown at a slow pace
Margin Stability

Margins of the company are volatile

Revenue mix

Product Wise Break-Up

Product Wise Break-Up - Software Services

Segment Break-Up

Location Wise Break-Up

Verticals

Operating Profit Break-Up

Contract Type

Client Break-Up

Operational Metrics

Constant Currency Growth - YoY - Public Services (%)

HCL Technologies Ltd.

Constant Currency Growth - YoY - Public Services (%)
Source
Net Sales by Employee Cost (.)
Source
Constant Currency Growth - YoY (%)
Source
Constant Currency Growth - YoY - Americas (%)
Source
Constant Currency Growth - YoY - Europe (%)
Source
Constant Currency Growth - YoY - ROW (%)
Source
Constant Currency Growth - YoY - IT and Business Services (%)
Source
Constant Currency Growth - YoY - Engineering and R&D Services (%)
Source
Constant Currency Growth - YoY - Products & Platforms (%)
Source
Constant Currency Growth - YoY - Financial Services (%)
Source
Constant Currency Growth - YoY - Manufacturing (%)
Source
Constant Currency Growth - YoY - Technology and Services (%)
Source
Constant Currency Growth - YoY - Retail & CPG (%)
Source
Constant Currency Growth - YoY - Telecommunications, Media, Publishing & Entertainment (%)
Source
Constant Currency Growth - YoY - Lifesciences & Healthcare (%)
Source
R&D as a % of Total Sales (%)
Source

Peer Comparison

Peer Name	Latest Price	PE	Market cap(Cr)	Prom Holding(%)	YoY Qtly Sales(%)	ROCE (%)	ROE (%)
HCL Tech.	1,637.7	25.55	4,44,336	60.81	6.13	28.31	23
Wipro	248.59	19.84	2,60,563	72.73	1.33	18.99	15.86
Infosys	1,563.8	24.32	6,49,740	14.6	7.92	36.23	27.88
LTIMindtree	5,204	33.53	1,54,213	68.57	9.88	26.57	20.26
Tech Mahindra	1,571.1	43.89	1,53,868	35.01	3.98	12.28	8.45
Persistent Systems	5,676.5	62.7	87,788	30.66	25.15	29.57	22.06
Oracle Finl. Service	8,786	22.81	76,416	72.59	4.5	36.02	28.24
Coforge	1,775.5	112.53	59,359	—	47.08	20.3	22.28

Corporate Actions

Consolidated BonusDividend

DATE

DETAILS

2025, Apr 28

Dividend Dividend of Rs.18 per share

2025, Jan 17

Dividend Dividend of Rs.6 per share

2025, Jan 17

Dividend Dividend of Rs.12 per share

2024, Oct 22

Dividend Dividend of Rs.12 per share

2024, Jul 23

Dividend Dividend of Rs.12 per share

Suppliers

Sobha Ltd.
Black Box Ltd.
Borosil Renewables Ltd.
Ahluwalia Contracts (India) Ltd.
Genesys International Corporation Ltd.
Airan Ltd.
Arshiya Ltd.

Showing 5 of 7

FAQs on HCL Technologies Ltd. Business

What does HCL Tech. do?

HCL Technologies offers IT services, engineering & R&D services, and software products, with a focus on digital, engineering, cloud, and AI services in industries like Financial Services, Manufacturing, Healthcare, Retail, and Technology & Telecom.

Who are the competitors of HCL Tech.?

HCL Tech. major competitors are Wipro, Infosys, LTIMindtree, Tech Mahindra, Persistent Systems, Oracle Finl. Service, Coforge.
Market Cap of HCL Tech. is ₹4,44,336 Crs.
While the median market cap of its peers are ₹1,53,868 Crs.

Is HCL Tech. financially stable compared to its competitors?

HCL Tech. seems to be less financially stable compared to its competitors.
Altman Z score of HCL Tech. is 11.87 and is ranked 5 out of its 8 competitors.

View FAQ's On Shareprice

Cash Flow Machines

Actual Cash profits are more important than accounting profits. List of companies spitting out cash profits

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Global Leaders

Companies with a dominant global position in a product. Might be a sign of very strong moat.

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Company Filing

	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010
Annual Report	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11	FY10
Earnings Release				Mar Jun Dec	Mar Jun Sep Dec	Mar Jun Sep Dec	Mar Jun Sep Dec	Mar Jun Sep Dec	Mar Jun Sep Dec	Jun Sep Dec	Mar Jun Sep Dec	Mar Jun Sep Dec	Mar Jun Sep Dec	Mar Jun Sep Dec	Mar Jun Sep Dec	Jun Sep Dec
Investor Presentation	Apr	Mar Jun Aug Sep Dec	Mar Jun Sep Dec	Mar May Jun Sep Dec	Mar	Mar Dec	Mar Jun Sep Dec	Mar Jun Sep		Mar Jun Sep Dec	Mar Jun Sep
Conference Call	Mar	Mar Jun Sep Dec	Mar Jun Sep Dec	Mar Jun Sep Dec	Mar Jun Sep Dec	Mar Jun Sep Dec	Mar Jun Sep Dec	Mar Jun Sep Dec	Mar Jun Sep Dec	Jun Sep Dec	Jun Sep Dec	Mar Jun Sep Dec	Mar Jun Sep Dec	Mar Jun Sep Dec	Mar Jun Sep Dec
Conference Call SummaryCon Call Summary Powered by Gemini

Discussions & Analysis

HCL Technologies Ltd.

Deep Dive Into HCL Tech - One Hidden IT Large Cap Giant - SOIC

HCL Tech - Valuation Model - SOIC

View the discussion on ValuePickr

How Ajai Chowdhry Co-Founded HCL and Shaped India's Tech Industry - Sparx by Mukesh Bansal

A Primer on Cloud Computing - Medium

Analysis Framework for IT Service companies - Dr Vijay Malik

IT Services & The API Economy - PPFAS

In-depth analysis of $200bn IT sector from a Superb Analyst - G2G Ajay

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Raw Material

HCL Technologies Ltd.

HCL Technologies Ltd.

About

Timeline

Company Timeline

11 Yes

2 Neutral

4 No

0 No Data

Accounting & Shareholding

Contingent Liabilities

Other Income

Pledge

Retail Holding

Revenue Recognition

Promoter Holding

Depreciation Effect

Price & Performance

Capex vs ROCE

ROE

Share price

Working Capital

Debt

ROCE Strength

Balance Sheet Strength

Current vs Historic Valuation

Sales Growth

Margin Stability

Product Wise Break-Up

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Product Wise Break-Up - Software Services

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Segment Break-Up

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Location Wise Break-Up

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Verticals

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Operating Profit Break-Up

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Contract Type

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Client Break-Up

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Constant Currency Growth - YoY - Public Services (%)

Constant Currency Growth - YoY - Public Services (%)

What does HCL Tech. do?

Who are the competitors of HCL Tech.?

Is HCL Tech. financially stable compared to its competitors?

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