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 ₹ 4,26,724 Cr.
- Current Price ₹ 1,572
- High / Low ₹ 2,012 / 1,235
- Stock P/E 24.5
- Book Value ₹ 257
- Dividend Yield 3.43 %
- ROCE 31.9 %
- ROE 25.2 %
- Face Value ₹ 2.00
Pros
- Company is almost debt free.
- Stock is providing a good dividend yield of 3.43%.
- Company has been maintaining a healthy dividend payout of 90.4%
- Debtor days have improved from 79.1 to 60.9 days.
Cons
- The company has delivered a poor sales growth of 10.6% 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.
Peer comparison
Sector: IT - Software Industry: Computers - Software - Large
Part of BSE Sensex Nifty 50 BSE 500 BSE Information Technology BSE 100
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
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 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
32,144 | 36,701 | 31,136 | 47,568 | 50,569 | 60,427 | 70,676 | 75,379 | 85,651 | 101,456 | 109,913 | 117,055 | |
24,108 | 28,215 | 24,482 | 37,178 | 39,323 | 46,501 | 53,360 | 55,331 | 65,122 | 78,828 | 85,715 | 91,551 | |
Operating Profit | 8,035 | 8,486 | 6,654 | 10,390 | 11,246 | 13,926 | 17,316 | 20,048 | 20,529 | 22,628 | 24,198 | 25,504 |
OPM % | 25% | 23% | 21% | 22% | 22% | 23% | 24% | 27% | 24% | 22% | 22% | 22% |
677 | 1,126 | 871 | 1,069 | 1,230 | 943 | 589 | 927 | 1,067 | 1,358 | 1,495 | 2,485 | |
Interest | 114 | 91 | 74 | 89 | 69 | 174 | 505 | 511 | 319 | 353 | 553 | 644 |
Depreciation | 681 | 404 | 410 | 828 | 1,383 | 2,073 | 3,420 | 4,611 | 4,326 | 4,145 | 4,173 | 4,084 |
Profit before tax | 7,917 | 9,117 | 7,041 | 10,542 | 11,024 | 12,622 | 13,980 | 15,853 | 16,951 | 19,488 | 20,967 | 23,261 |
Tax % | 18% | 20% | 20% | 18% | 21% | 20% | 21% | 30% | 20% | 24% | 25% | 25% |
6,528 | 7,342 | 5,602 | 8,606 | 8,722 | 10,120 | 11,057 | 11,169 | 13,523 | 14,845 | 15,710 | 17,399 | |
EPS in Rs | 23.25 | 26.02 | 19.86 | 30.16 | 31.32 | 37.31 | 40.75 | 41.07 | 49.74 | 54.73 | 57.86 | 64.12 |
Dividend Payout % | 11% | 58% | 40% | 40% | 19% | 11% | 25% | 24% | 84% | 88% | 90% | 94% |
Compounded Sales Growth | |
---|---|
10 Years: | 14% |
5 Years: | 11% |
3 Years: | 11% |
TTM: | 7% |
Compounded Profit Growth | |
---|---|
10 Years: | 10% |
5 Years: | 10% |
3 Years: | 9% |
TTM: | 12% |
Stock Price CAGR | |
---|---|
10 Years: | 13% |
5 Years: | 24% |
3 Years: | 14% |
1 Year: | 15% |
Return on Equity | |
---|---|
10 Years: | 24% |
5 Years: | 23% |
3 Years: | 24% |
Last Year: | 25% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
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 | 19,410 | 23,943 | 27,109 | 32,664 | 36,108 | 41,095 | 50,724 | 59,370 | 61,371 | 64,862 | 67,720 | 69,112 |
1,018 | 648 | 1,090 | 582 | 557 | 4,195 | 7,986 | 6,864 | 6,343 | 4,794 | 5,758 | 6,276 | |
9,412 | 10,372 | 10,859 | 12,231 | 11,046 | 12,788 | 23,566 | 19,270 | 20,664 | 23,051 | 24,985 | 29,613 | |
Total Liabilities | 29,980 | 35,245 | 39,341 | 45,762 | 47,989 | 58,349 | 82,819 | 86,047 | 88,921 | 93,250 | 99,006 | 105,544 |
7,444 | 8,275 | 9,716 | 15,235 | 18,753 | 22,888 | 37,490 | 37,145 | 35,077 | 34,619 | 35,063 | 36,172 | |
CWIP | 531 | 552 | 611 | 448 | 320 | 235 | 400 | 312 | 129 | 40 | 108 | 59 |
Investments | 662 | 869 | 698 | 1,306 | 2,660 | 2,305 | 7,066 | 6,862 | 6,351 | 5,495 | 7,137 | 7,564 |
21,343 | 25,548 | 28,315 | 28,773 | 26,256 | 32,921 | 37,863 | 41,728 | 47,364 | 53,096 | 56,698 | 61,749 | |
Total Assets | 29,980 | 35,245 | 39,341 | 45,762 | 47,989 | 58,349 | 82,819 | 86,047 | 88,921 | 93,250 | 99,006 | 105,544 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Jun 2014 | Jun 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
6,457 | 5,539 | 3,823 | 8,995 | 8,328 | 8,971 | 13,359 | 19,618 | 16,900 | 18,009 | 22,448 | 22,261 | |
-4,842 | -2,088 | -2,208 | -3,890 | -2,236 | -3,256 | -12,332 | -5,665 | 1,597 | -3,573 | -6,608 | -4,914 | |
-1,308 | -3,140 | -2,237 | -4,517 | -5,714 | -1,471 | -3,168 | -11,192 | -14,508 | -15,881 | -15,464 | -18,561 | |
Net Cash Flow | 307 | 311 | -623 | 588 | 378 | 4,244 | -2,141 | 2,761 | 3,989 | -1,445 | 376 | -1,214 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
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 | 65 | 65 | 91 | 64 | 70 | 71 | 73 | 85 | 88 | 92 | 85 | 61 |
Inventory Days | ||||||||||||
Days Payable | ||||||||||||
Cash Conversion Cycle | 65 | 65 | 91 | 64 | 70 | 71 | 73 | 85 | 88 | 92 | 85 | 61 |
Working Capital Days | 10 | 29 | 64 | 38 | 59 | 49 | 27 | 52 | 48 | 47 | 35 | 51 |
ROCE % | 45% | 40% | 28% | 34% | 31% | 31% | 27% | 26% | 25% | 28% | 30% | 32% |
Documents
Announcements
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Release - "Hcltech Receives RISE With SAP Validated Partner Recognition"
23h - HCLTech awarded RISE with SAP Validated Partner for SAP S/4HANA Cloud expertise and transformation leadership.
- Disclosures under Reg. 29(1) of SEBI (SAST) Regulations, 2011 2d
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Release - 'Hcltech Wins Intel''s 2025 EPIC Supplier Award'
29 Apr - HCLTech wins Intel's 2025 EPIC Supplier Award for excellence in supply chain and partnership.
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Release - "Hclfoundation Announces Winners Of 2025 Hcltech Grant"
28 Apr - HCLFoundation awards ₹16.5 Cr to NGOs for 2025 transformative projects in environment, health, and education.
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Grant Of Restricted Stock Units ('Rsus')
26 Apr - Grant of 49,398 RSUs to 9 employees under 2024 RSU Plan, vesting July 31, 2026, no dilution.
Annual reports
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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]