HCL Technologies Ltd

HCL Technologies is primarily engaged in providing a range of software development services, business process outsourcing services and IT infrastructure services.

Pros:
Company is virtually debt free.
Company has a good return on equity (ROE) track record: 3 Years ROE 27.90%
Company has been maintaining a healthy dividend payout of 28.55%
Cons:
Tax rate seems low
** Remarks:
Some businesses are provided tax benefits to encourage their development

Peer Comparison Sector: IT - Software // Industry: Computers - Software - Large

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
4,706 4,889 5,114 5,179 5,460 5,723 5,711 6,013 6,485 6,556 6,958 6,765
2,744 2,864 3,277 3,067 3,161 3,182 3,324 3,528 3,796 3,958 4,312 4,237
Operating Profit 1,962 2,025 1,837 2,112 2,299 2,541 2,387 2,485 2,689 2,598 2,646 2,528
OPM % 42% 41% 36% 41% 42% 44% 42% 41% 41% 40% 38% 37%
Other Income 238 188 231 199 162 143 198 211 264 116 214 209
Interest 2 9 34 6 5 6 6 5 4 5 2 27
Depreciation 102 123 160 131 184 294 284 318 312 328 318 393
Profit before tax 2,096 2,081 1,874 2,174 2,272 2,384 2,295 2,373 2,637 2,381 2,540 2,317
Tax % 19% 20% 8% 19% 21% 17% 20% 16% 18% 15% 20% 23%
Net Profit 1,691 1,662 1,721 1,762 1,790 1,969 1,841 1,986 2,154 2,014 2,031 1,793
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Jun 2008 Jun 2009 Jun 2010 Jun 2011 Jun 2012 Jun 2013 Jun 2014 Jun 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
4,615 4,675 5,079 6,794 8,907 12,518 16,497 17,153 13,435 19,318 22,073 26,012 26,764
3,674 3,469 3,722 5,278 6,397 7,927 9,186 10,294 8,299 11,465 12,734 15,594 16,303
Operating Profit 942 1,206 1,356 1,516 2,510 4,591 7,311 6,860 5,136 7,853 9,339 10,418 10,461
OPM % 20% 26% 27% 22% 28% 37% 44% 40% 38% 41% 42% 40% 39%
Other Income 170 266 172 166 301 472 659 1,200 968 956 702 805 803
Interest 19 28 101 101 97 76 82 61 46 55 23 16 38
Depreciation 218 252 274 291 353 442 491 300 277 478 893 1,276 1,351
Profit before tax 875 1,192 1,153 1,290 2,361 4,545 7,398 7,699 5,782 8,276 9,125 9,931 9,875
Tax % 11% 16% 8% 7% 17% 18% 19% 18% 18% 17% 19% 18%
Net Profit 781 997 1,057 1,198 1,950 3,705 5,985 6,346 4,719 6,873 7,362 8,185 7,992
EPS in Rs 5.10 6.85 7.45 8.09 13.10 25.58 41.94 42.01 40.40 43.44 52.96 60.41
Dividend Payout % 77% 47% 26% 43% 43% 23% 12% 66% 48% 50% 23% 13%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:%
5 Years:15.75%
3 Years:24.64%
TTM:16.84%
Compounded Profit Growth
10 Years:%
5 Years:17.28%
3 Years:20.64%
TTM:5.35%
Return on Equity
10 Years:%
5 Years:29.43%
3 Years:27.90%
Last Year:27.90%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Jun 2008 Jun 2009 Jun 2010 Jun 2011 Jun 2012 Jun 2013 Jun 2014 Jun 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
133 134 136 138 139 139 140 281 282 285 278 271
Reserves 3,080 3,354 4,798 5,720 6,465 10,093 15,606 19,125 21,214 25,688 27,285 30,168
Borrowings 25 514 1,397 1,030 1,040 627 569 41 42 45 48 50
2,264 2,596 2,160 2,182 3,235 5,101 5,501 5,481 5,060 6,510 5,288 7,077
Total Liabilities 5,502 6,597 8,491 9,071 10,878 15,960 21,815 24,927 26,598 32,528 32,899 37,566
725 857 944 1,296 1,614 1,954 2,449 3,064 2,816 7,989 10,428 11,235
CWIP 419 418 477 519 550 488 518 544 582 411 298 212
Investments 1,797 563 2,233 2,653 3,298 4,056 4,116 4,125 3,974 4,724 6,198 5,810
2,560 4,760 4,837 4,603 5,417 9,462 14,732 17,194 19,225 19,404 15,975 20,309
Total Assets 5,502 6,597 8,491 9,071 10,878 15,960 21,815 24,927 26,598 32,528 32,899 37,566

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Jun 2008 Jun 2009 Jun 2010 Jun 2011 Jun 2012 Jun 2013 Jun 2014 Jun 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
1,057 590 739 1,520 2,147 4,170 6,147 5,336 3,154 6,995 6,339 8,676
-149 841 -477 -535 -1,343 -2,974 -4,665 -1,783 -763 -2,656 -934 972
-602 -228 583 -883 -837 -1,175 -1,398 -3,360 -2,699 -4,112 -5,547 -5,335
Net Cash Flow 306 1,203 845 103 -33 21 85 192 -308 227 -142 4,313

Ratios Standalone Figures in Rs. Crores / View Consolidated

Jun 2008 Jun 2009 Jun 2010 Jun 2011 Jun 2012 Jun 2013 Jun 2014 Jun 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 24% 31% 24% 21% 34% 49% 54% 43% 30% 35% 34% 34%
Debtor Days 78 116 150 89 82 79 71 76 111 83 90 88
Inventory Turnover 107.46 102.55 99.18 79.19 137.69 338.82 345.87 186.46 176.78 339.58 896.97