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.
- Market Cap ₹ 4,66,289 Cr.
- Current Price ₹ 1,718
- High / Low ₹ 2,012 / 1,303
- Stock P/E 38.0
- Book Value ₹ 129
- Dividend Yield 3.14 %
- ROCE 43.6 %
- ROE 33.0 %
- Face Value ₹ 2.00
Pros
- Company is almost debt free.
- Stock is providing a good dividend yield of 3.14%.
- Company has a good return on equity (ROE) track record: 3 Years ROE 29.4%
- Company has been maintaining a healthy dividend payout of 122%
- Debtor days have improved from 73.3 to 25.9 days.
Cons
- Stock is trading at 13.4 times its book value
- The company has delivered a poor sales growth of 9.36% over past five years.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Jun 2014 | Jun 2015 | Mar 2016 9m | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
16,497 | 17,153 | 13,435 | 19,318 | 22,073 | 26,012 | 32,666 | 35,673 | 40,638 | 46,276 | 48,118 | 51,105 | |
9,186 | 10,294 | 8,299 | 11,465 | 12,734 | 15,594 | 19,902 | 21,238 | 25,526 | 30,033 | 31,242 | 33,389 | |
Operating Profit | 7,311 | 6,860 | 5,136 | 7,853 | 9,339 | 10,418 | 12,764 | 14,435 | 15,112 | 16,243 | 16,876 | 17,716 |
OPM % | 44% | 40% | 38% | 41% | 42% | 40% | 39% | 40% | 37% | 35% | 35% | 35% |
659 | 1,200 | 968 | 956 | 702 | 805 | 613 | 965 | 880 | 1,031 | 1,076 | 1,234 | |
Interest | 82 | 61 | 46 | 55 | 23 | 16 | 240 | 177 | 109 | 127 | 125 | 156 |
Depreciation | 491 | 300 | 277 | 478 | 893 | 1,276 | 1,959 | 2,813 | 2,615 | 2,431 | 2,371 | 2,320 |
Profit before tax | 7,398 | 7,699 | 5,782 | 8,276 | 9,125 | 9,931 | 11,178 | 12,410 | 13,268 | 14,716 | 15,456 | 16,474 |
Tax % | 19% | 18% | 18% | 17% | 19% | 18% | 20% | 30% | 18% | 22% | 24% | 26% |
5,985 | 6,346 | 4,719 | 6,873 | 7,362 | 8,185 | 8,969 | 8,743 | 10,874 | 11,459 | 11,674 | 12,266 | |
EPS in Rs | 21.37 | 22.57 | 16.73 | 24.09 | 26.44 | 30.17 | 33.05 | 32.22 | 40.07 | 42.23 | 43.02 | 45.20 |
Dividend Payout % | 12% | 66% | 48% | 50% | 23% | 13% | 30% | 31% | 105% | 114% | 121% | 133% |
Compounded Sales Growth | |
---|---|
10 Years: | 12% |
5 Years: | 9% |
3 Years: | 8% |
TTM: | 6% |
Compounded Profit Growth | |
---|---|
10 Years: | 8% |
5 Years: | 7% |
3 Years: | 4% |
TTM: | 6% |
Stock Price CAGR | |
---|---|
10 Years: | 14% |
5 Years: | 24% |
3 Years: | 21% |
1 Year: | 16% |
Return on Equity | |
---|---|
10 Years: | 27% |
5 Years: | 27% |
3 Years: | 29% |
Last Year: | 33% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Jun 2014 | Jun 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 140 | 281 | 282 | 285 | 278 | 271 | 543 | 543 | 543 | 543 | 543 | 543 |
Reserves | 15,613 | 19,125 | 21,214 | 25,688 | 27,285 | 30,168 | 37,003 | 43,010 | 42,048 | 40,561 | 38,927 | 34,397 |
569 | 41 | 42 | 45 | 48 | 50 | 1,018 | 943 | 880 | 799 | 914 | 1,041 | |
5,493 | 5,469 | 5,050 | 6,353 | 5,207 | 6,967 | 15,274 | 10,865 | 9,952 | 11,457 | 11,923 | 16,522 | |
Total Liabilities | 21,814 | 24,915 | 26,588 | 32,371 | 32,818 | 37,456 | 53,838 | 55,361 | 53,423 | 53,360 | 52,307 | 52,503 |
2,449 | 3,064 | 2,816 | 7,989 | 10,428 | 11,235 | 22,643 | 20,905 | 19,524 | 17,935 | 16,333 | 16,218 | |
CWIP | 518 | 544 | 582 | 411 | 298 | 212 | 311 | 245 | 79 | 21 | 22 | 29 |
Investments | 4,116 | 4,125 | 3,974 | 4,724 | 6,198 | 5,810 | 11,039 | 11,646 | 11,096 | 10,159 | 11,841 | 12,317 |
14,731 | 17,182 | 19,215 | 19,247 | 15,894 | 20,199 | 19,845 | 22,565 | 22,724 | 25,245 | 24,111 | 23,939 | |
Total Assets | 21,814 | 24,915 | 26,588 | 32,371 | 32,818 | 37,456 | 53,838 | 55,361 | 53,423 | 53,360 | 52,307 | 52,503 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Jun 2014 | Jun 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
6,147 | 5,336 | 3,154 | 6,995 | 6,339 | 8,676 | 9,911 | 15,765 | 10,591 | 13,538 | 15,282 | 15,991 | |
-4,665 | -1,783 | -763 | -2,656 | -934 | 972 | -11,148 | -4,534 | 2,215 | -804 | -2,339 | 993 | |
-1,398 | -3,360 | -2,699 | -4,112 | -5,547 | -5,335 | -1,997 | -9,649 | -12,775 | -13,267 | -14,480 | -17,253 | |
Net Cash Flow | 85 | 192 | -308 | 227 | -142 | 4,313 | -3,234 | 1,582 | 31 | -533 | -1,537 | -269 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Jun 2014 | Jun 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 71 | 76 | 111 | 83 | 90 | 88 | 84 | 99 | 100 | 102 | 92 | 26 |
Inventory Days | ||||||||||||
Days Payable | ||||||||||||
Cash Conversion Cycle | 71 | 76 | 111 | 83 | 90 | 88 | 84 | 99 | 100 | 102 | 92 | 26 |
Working Capital Days | 5 | 37 | 108 | 63 | 104 | 57 | 20 | 63 | 64 | 54 | 37 | 77 |
ROCE % | 54% | 43% | 30% | 35% | 34% | 34% | 33% | 30% | 30% | 34% | 38% | 44% |
Documents
Announcements
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Release - Hcltech And Openai Collaborate To Drive Enterprise-Scale AI Adoption
1d - HCLTech partners with OpenAI for multi-year AI collaboration, integrating AI across offerings and internal use.
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Release- "Hcltech Recognized As A Microsoft Responsible AI Partner"
27 Jun - HCLTech named Microsoft Responsible AI Partner, reinforcing ethical AI leadership and compliance.
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Release- "HCLTECH Wins Top Honors At AWS Genai Premier League (GPL) Awards 2025"
27 Jun - HCLTech wins top honors at AWS GenAI Premier League Awards 2025 across all categories.
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Release - 'Hcltech Expands Partnership With Salesforce To Accelerate Enterprise Adoption Of Agentic AI With New Services'
26 Jun - HCLTech expands Salesforce partnership to accelerate enterprise adoption of Agentic AI services across industries.
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'Release - Hcltech And AMD Forge Strategic Alliance To Develop Future-Ready Solutions Across AI, Digital And Cloud'
24 Jun - HCLTech and AMD form strategic alliance to develop AI, digital, cloud solutions and innovation labs.
Annual reports
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Financial Year 2024
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2013
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Financial Year 2012
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Financial Year 2012
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Concalls
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Fastest Growing IT Company
The company has emerged as the fastest-growing IT services brand with a ~16% YoY growth in brand value among the top 10 IT companies globally, as per the 2024 Brand Finance Global 500 and IT Services Top 25 Report. It is India’s 3rd largest IT services company in annual revenue terms. [1] [2]