HCL Technologies Ltd

HCL Technologies Ltd

₹ 1,431 -0.91%
14 Jun - close price
About

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.

Key Points

Segment wise revenue breakup FY22
IT and Business Services – 72%
Engineering and R&D services - 16%
Products & Platforms – 12% [1]

  • Market Cap 3,88,339 Cr.
  • Current Price 1,431
  • High / Low 1,697 / 1,087
  • Stock P/E 33.3
  • Book Value 145
  • Dividend Yield 3.63 %
  • ROCE 37.9 %
  • ROE 29.0 %
  • Face Value 2.00

Pros

  • Company is almost debt free.
  • Stock is providing a good dividend yield of 3.63%.
  • Company has a good return on equity (ROE) track record: 3 Years ROE 26.9%
  • Company has been maintaining a healthy dividend payout of 113%
  • Debtor days have improved from 77.1 to 29.4 days.

Cons

  • Stock is trading at 9.84 times its book value

* 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.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

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
9,249 9,556 9,786 10,662 10,634 10,817 11,424 12,398 11,637 11,451 12,059 12,531 12,077
6,236 5,814 6,142 6,762 6,808 7,050 7,471 7,842 7,670 7,769 7,745 7,694 8,034
Operating Profit 3,013 3,742 3,644 3,900 3,826 3,767 3,953 4,556 3,967 3,682 4,314 4,837 4,043
OPM % 33% 39% 37% 37% 36% 35% 35% 37% 34% 32% 36% 39% 33%
250 261 177 187 255 334 184 288 225 262 252 261 301
Interest 20 30 25 28 26 27 33 33 34 29 33 29 34
Depreciation 784 660 644 728 583 586 560 686 599 506 583 678 604
Profit before tax 2,459 3,313 3,152 3,331 3,472 3,488 3,544 4,125 3,559 3,409 3,950 4,391 3,706
Tax % 81% 19% 19% 21% 14% 23% 23% 23% 20% 24% 25% 24% 25%
456 2,672 2,562 2,637 3,003 2,678 2,741 3,196 2,844 2,596 2,966 3,349 2,763
EPS in Rs 1.68 9.85 9.44 9.72 11.07 9.87 10.10 11.78 10.48 9.57 10.93 12.34 10.18
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Jun 2013 Jun 2014 Jun 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
12,518 16,497 17,153 13,435 19,318 22,073 26,012 32,666 35,673 40,638 46,276 48,118
7,927 9,186 10,294 8,299 11,465 12,734 15,594 19,902 21,238 25,526 30,033 31,242
Operating Profit 4,591 7,311 6,860 5,136 7,853 9,339 10,418 12,764 14,435 15,112 16,243 16,876
OPM % 37% 44% 40% 38% 41% 42% 40% 39% 40% 37% 35% 35%
472 659 1,200 968 956 702 805 613 965 880 1,031 1,076
Interest 76 82 61 46 55 23 16 240 177 109 127 125
Depreciation 442 491 300 277 478 893 1,276 1,959 2,813 2,615 2,431 2,371
Profit before tax 4,545 7,398 7,699 5,782 8,276 9,125 9,931 11,178 12,410 13,268 14,716 15,456
Tax % 18% 19% 18% 18% 17% 19% 18% 20% 30% 18% 22% 24%
3,705 5,985 6,346 4,719 6,873 7,362 8,185 8,969 8,743 10,874 11,459 11,674
EPS in Rs 13.29 21.37 22.57 16.73 24.09 26.44 30.17 33.05 32.22 40.07 42.23 43.02
Dividend Payout % 23% 12% 66% 48% 50% 23% 13% 30% 31% 105% 114% 121%
Compounded Sales Growth
10 Years: 14%
5 Years: 13%
3 Years: 10%
TTM: 4%
Compounded Profit Growth
10 Years: 12%
5 Years: 8%
3 Years: 11%
TTM: 4%
Stock Price CAGR
10 Years: 15%
5 Years: 21%
3 Years: 14%
1 Year: 25%
Return on Equity
10 Years: 27%
5 Years: 26%
3 Years: 27%
Last Year: 29%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Jun 2013 Jun 2014 Jun 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 139 140 281 282 285 278 271 543 543 543 543 543
Reserves 10,098 15,613 19,125 21,214 25,688 27,285 30,168 37,003 43,010 42,048 40,561 38,927
627 569 41 42 45 48 50 1,018 943 880 799 914
5,095 5,493 5,469 5,050 6,353 5,207 6,967 15,274 10,865 9,952 11,457 11,923
Total Liabilities 15,959 21,814 24,915 26,588 32,371 32,818 37,456 53,838 55,361 53,423 53,360 52,307
1,954 2,449 3,064 2,816 7,989 10,428 11,235 22,643 20,905 19,524 17,935 16,333
CWIP 488 518 544 582 411 298 212 311 245 79 21 22
Investments 4,056 4,116 4,125 3,974 4,724 6,198 5,810 11,039 11,646 11,096 10,159 11,841
9,461 14,731 17,182 19,215 19,247 15,894 20,199 19,845 22,565 22,724 25,245 24,111
Total Assets 15,959 21,814 24,915 26,588 32,371 32,818 37,456 53,838 55,361 53,423 53,360 52,307

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Jun 2013 Jun 2014 Jun 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
4,170 6,147 5,336 3,154 6,995 6,339 8,676 9,911 15,765 10,591 13,538 15,282
-2,974 -4,665 -1,783 -763 -2,656 -934 972 -11,148 -4,534 2,215 -804 -2,331
-1,175 -1,398 -3,360 -2,699 -4,112 -5,547 -5,335 -1,997 -9,649 -12,775 -13,267 -14,480
Net Cash Flow 21 85 192 -308 227 -142 4,313 -3,234 1,582 31 -533 -1,529

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Jun 2013 Jun 2014 Jun 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 79 71 76 111 83 90 88 84 99 100 102 29
Inventory Days
Days Payable
Cash Conversion Cycle 79 71 76 111 83 90 88 84 99 100 102 29
Working Capital Days 26 5 37 108 63 104 57 20 63 64 54 89
ROCE % 49% 54% 43% 30% 35% 34% 34% 33% 30% 30% 34%

Shareholding Pattern

Numbers in percentages

9 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
60.33% 60.33% 60.33% 60.72% 60.72% 60.72% 60.72% 60.82% 60.82% 60.82% 60.82% 60.82%
23.22% 22.30% 20.43% 18.97% 17.91% 17.17% 18.29% 18.92% 18.98% 18.80% 19.42% 19.65%
11.34% 12.47% 13.74% 14.68% 15.54% 16.52% 15.85% 15.28% 15.33% 15.62% 15.12% 14.95%
0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02%
5.09% 4.88% 5.28% 5.38% 5.59% 5.34% 4.89% 4.74% 4.63% 4.54% 4.40% 4.35%
0.00% 0.00% 0.20% 0.23% 0.23% 0.23% 0.23% 0.23% 0.23% 0.21% 0.21% 0.21%
No. of Shareholders 6,35,9496,53,5927,78,1129,08,0559,95,79610,89,3179,91,5489,40,0799,09,3598,79,1208,52,9028,55,960

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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