HCL Technologies Ltd.
•2026-08-21
ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • IT Services: 73.8% • Engineering and R&D services: 16.9% • Products & Platforms: 9.2%
PROS
- Company is almost debt free
- Company has a healthy return on capital (ROCE) of 32.0%
- Company has a good return on equity (ROE) track record: 3 Years ROE 24.1%
- Company has consistently been profitable over the last 5 years
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.30x)
CONS
- Company has delivered a poor profit growth of 8.3% over past five years
- Expensive relative to growth - PEG of 5.3
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
EDIT COLUMNS| S.No. | Name | CMP Rs. | P/E | Mar Cap Rs.Cr. | Div Yld % | NP Qtr Rs.Cr. | Qtr Profit Var % | Sales Qtr Rs.Cr. | Qtr Sales Var % | ROCE % | OPM % |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | TCS | 2287.00 | 16.62 | 827456.62 | 4.81 | 13420.00 | 4.69 | 72275.00 | 13.93 | 66.25 | 25.67 |
| 2. | INFY | 1117.05 | 14.97 | 453305.21 | 4.30 | 7775.00 | 12.29 | 48211.00 | 14.03 | 42.84 | 23.66 |
| 3. | HCLTECH | 1322.50 | 20.60 | 358882.21 | 4.08 | 4626.00 | 20.34 | 34579.00 | 13.94 | 31.20 | 19.87 |
| 4. | WIPRO | 179.50 | 13.45 | 177780.78 | 6.13 | 3356.30 | 0.59 | 24478.60 | 10.59 | 18.49 | 18.93 |
| 5. | TECHM | 1582.20 | 30.20 | 155076.76 | 3.22 | 1486.30 | 31.67 | 15711.90 | 17.68 | 23.04 | 17.43 |
| 6. | LTM | 4535.00 | 25.72 | 134517.77 | 1.65 | 1468.60 | 17.06 | 11608.00 | 17.96 | 30.25 | 17.75 |
| 7. | OFSS | 11720.00 | 29.90 | 102061.42 | 3.41 | 1415.50 | 120.52 | 3125.20 | 68.73 | 45.50 | 60.04 |
| 8. | PERSISTENT | 5510.00 | 45.20 | 86920.25 | 0.73 | 483.04 | 13.67 | 4303.23 | 29.09 | 35.09 | 16.19 |
| 9. | COFORGE | 1815.00 | 45.76 | 80390.07 | 0.87 | 531.70 | 49.19 | 5527.70 | 49.86 | 24.70 | 19.14 |
| 10. | MPHASIS | 2420.00 | 24.18 | 46192.17 | 2.56 | 489.51 | 10.82 | 4384.05 | 17.46 | 23.31 | 18.15 |
| 11. | LTTS | 3538.70 | 28.44 | 37537.66 | 1.64 | 357.10 | 12.97 | 2940.10 | 11.47 | 27.70 | 18.65 |
| 12. | HEXT | 552.75 | 25.14 | 33773.91 | 2.08 | 330.20 | -13.04 | 3845.20 | 17.93 | 31.40 | 15.74 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 26,296 | 26,672 | 28,446 | 28,499 | 28,057 | 28,862 | 29,890 | 30,246 | 30,349 | 31,942 | 33,872 | 33,981 | 34,579 | |
| 20,931 | 20,743 | 21,659 | 22,382 | 22,264 | 22,493 | 23,030 | 23,764 | 24,314 | 25,397 | 26,460 | 27,269 | 28,832 | |
| Operating Profit | — | — | — | — | — | — | — | — | — | — | — | — | — |
| OPM % | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Income | 344 | 365 | 370 | 416 | 1,103 | 456 | 477 | 449 | 456 | 415 | 385 | 322 | 361 |
| Interest | 86 | 156 | 140 | 171 | 191 | 131 | 166 | 156 | 209 | 215 | 205 | 240 | 84 |
| Depreciation | 927 | 1,010 | 1,143 | 1,093 | 998 | 1,007 | 1,039 | 1,040 | 1,093 | 1,043 | 1,127 | 1,092 | 1,039 |
| 4,696 | 5,128 | 5,874 | 5,269 | 5,707 | 5,687 | 6,132 | 5,735 | 5,189 | 5,702 | 5,509 | 5,702 | 6,108 | |
| Tax % | 24.81% | 25.25% | 25.93% | 24.18% | 25.37% | 25.50% | 25.08% | 24.86% | 25.92% | 25.71% | 25.90% | 21.26% | 24.26% |
| Net Profit | 0 | 0 | 0 | 0 | 4,259 | 4,237 | 4,594 | 4,309 | 3,844 | 4,236 | 4,082 | 4,490 | 4,626 |
| 13 | 14 | 16 | 15 | 16 | 16 | 17 | 16 | 14 | 16 | 15 | 17 | 2 | |
| Equity Capital | 543 | 543 | 543 | 543 | 543 | 543 | 543 | 543 | 543 | 543 | 543 | 543 | 543 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Equity Capital | 543 | 543 | 543 | 543 | 543 | 543 | 543 | 543 | 543 | 543 | 543 | 543 | 543 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
- 26,296
- 20,931
- Operating Profit
- —
- OPM %
- —
- Other Income
- 344
- Interest
- 86
- Depreciation
- 927
- 4,696
- Tax %
- 24.81%
- Net Profit
- 0
- 13
- Equity Capital
- 543
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 543
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 26,672
- 20,743
- Operating Profit
- —
- OPM %
- —
- Other Income
- 365
- Interest
- 156
- Depreciation
- 1,010
- 5,128
- Tax %
- 25.25%
- Net Profit
- 0
- 14
- Equity Capital
- 543
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 543
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 28,446
- 21,659
- Operating Profit
- —
- OPM %
- —
- Other Income
- 370
- Interest
- 140
- Depreciation
- 1,143
- 5,874
- Tax %
- 25.93%
- Net Profit
- 0
- 16
- Equity Capital
- 543
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 543
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 28,499
- 22,382
- Operating Profit
- —
- OPM %
- —
- Other Income
- 416
- Interest
- 171
- Depreciation
- 1,093
- 5,269
- Tax %
- 24.18%
- Net Profit
- 0
- 15
- Equity Capital
- 543
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 543
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 28,057
- 22,264
- Operating Profit
- —
- OPM %
- —
- Other Income
- 1,103
- Interest
- 191
- Depreciation
- 998
- 5,707
- Tax %
- 25.37%
- Net Profit
- 4,259
- 16
- Equity Capital
- 543
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 543
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 28,862
- 22,493
- Operating Profit
- —
- OPM %
- —
- Other Income
- 456
- Interest
- 131
- Depreciation
- 1,007
- 5,687
- Tax %
- 25.50%
- Net Profit
- 4,237
- 16
- Equity Capital
- 543
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 543
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 29,890
- 23,030
- Operating Profit
- —
- OPM %
- —
- Other Income
- 477
- Interest
- 166
- Depreciation
- 1,039
- 6,132
- Tax %
- 25.08%
- Net Profit
- 4,594
- 17
- Equity Capital
- 543
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 543
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 30,246
- 23,764
- Operating Profit
- —
- OPM %
- —
- Other Income
- 449
- Interest
- 156
- Depreciation
- 1,040
- 5,735
- Tax %
- 24.86%
- Net Profit
- 4,309
- 16
- Equity Capital
- 543
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 543
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 30,349
- 24,314
- Operating Profit
- —
- OPM %
- —
- Other Income
- 456
- Interest
- 209
- Depreciation
- 1,093
- 5,189
- Tax %
- 25.92%
- Net Profit
- 3,844
- 14
- Equity Capital
- 543
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 543
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 31,942
- 25,397
- Operating Profit
- —
- OPM %
- —
- Other Income
- 415
- Interest
- 215
- Depreciation
- 1,043
- 5,702
- Tax %
- 25.71%
- Net Profit
- 4,236
- 16
- Equity Capital
- 543
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 543
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 33,872
- 26,460
- Operating Profit
- —
- OPM %
- —
- Other Income
- 385
- Interest
- 205
- Depreciation
- 1,127
- 5,509
- Tax %
- 25.90%
- Net Profit
- 4,082
- 15
- Equity Capital
- 543
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 543
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 33,981
- 27,269
- Operating Profit
- —
- OPM %
- —
- Other Income
- 322
- Interest
- 240
- Depreciation
- 1,092
- 5,702
- Tax %
- 21.26%
- Net Profit
- 4,490
- 17
- Equity Capital
- 543
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 543
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 34,579
- 28,832
- Operating Profit
- —
- OPM %
- —
- Other Income
- 361
- Interest
- 84
- Depreciation
- 1,039
- 6,108
- Tax %
- 24.26%
- Net Profit
- 4,626
- 2
- Equity Capital
- 543
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 543
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 47,568 | 50,569 | 60,427 | 70,676 | 75,379 | 85,651 | 1,01,456 | 1,09,913 | 1,17,055 | 1,30,144 | 1,34,374 | |
| 37,189 | 39,330 | 46,511 | 53,394 | 55,366 | 65,134 | 78,837 | 85,734 | 91,559 | 1,03,637 | 1,07,958 | |
| Operating Profit | 11,457 | 12,463 | 14,869 | 17,905 | 20,975 | 21,597 | 23,986 | 25,693 | 27,989 | 28,282 | — |
| OPM % | 24 | 25 | 25 | 25 | 28 | 25 | 24 | 23 | 24 | 22 | — |
| Other Income | 1,078 | 1,224 | 953 | 623 | 962 | 1,080 | 1,367 | 1,514 | 2,493 | 1,775 | 1,483 |
| Interest | 89 | 69 | 174 | 505 | 511 | 319 | 353 | 553 | 644 | 869 | 744 |
| Depreciation | 828 | 1,383 | 2,073 | 3,420 | 4,611 | 4,326 | 4,145 | 4,173 | 4,084 | 4,355 | 4,301 |
| 10,542 | 11,024 | 12,622 | 13,980 | 15,853 | 16,951 | 19,488 | 20,967 | 23,261 | 22,102 | 23,021 | |
| Tax % | 18 | 21 | 20 | 21 | 30 | 20 | 24 | 25 | 25 | 25 | 24 |
| Net Profit | 8,606 | 8,722 | 10,120 | 11,057 | 11,169 | 13,523 | 14,845 | 15,710 | 17,399 | 16,652 | 17,434 |
| EPS | 60 | 62 | 37 | 41 | 41 | 50 | 55 | 58 | 64 | 61 | — |
| Dividend Payout % | 40 | 19 | 11 | 25 | 24 | 84 | 88 | 90 | 94 | 88 | — |
| Minority Interest | 0 | -1 | 0 | 0 | -24 | -24 | 6 | -8 | -9 | -10 | -1 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | 30 | 31 | 37 | 41 | 41 | 50 | 55 | 58 | 64 | 61 | — |
| Minority Interest | 0 | -1 | 0 | 0 | -24 | -24 | 6 | -8 | -9 | -10 | -1 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | 30 | 31 | 37 | 41 | 41 | 50 | 55 | 58 | 64 | 61 | — |
- 47,568
- 37,189
- Operating Profit
- 11,457
- OPM %
- 24
- Other Income
- 1,078
- Interest
- 89
- Depreciation
- 828
- 10,542
- Tax %
- 18
- Net Profit
- 8,606
- EPS
- 60
- Dividend Payout %
- 40
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 30
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 30
- 50,569
- 39,330
- Operating Profit
- 12,463
- OPM %
- 25
- Other Income
- 1,224
- Interest
- 69
- Depreciation
- 1,383
- 11,024
- Tax %
- 21
- Net Profit
- 8,722
- EPS
- 62
- Dividend Payout %
- 19
- Minority Interest
- -1
- Share of Associates
- 0
- Adjusted EPS
- 31
- Minority Interest
- -1
- Share of Associates
- 0
- Adjusted EPS
- 31
- 60,427
- 46,511
- Operating Profit
- 14,869
- OPM %
- 25
- Other Income
- 953
- Interest
- 174
- Depreciation
- 2,073
- 12,622
- Tax %
- 20
- Net Profit
- 10,120
- EPS
- 37
- Dividend Payout %
- 11
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 37
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 37
- 70,676
- 53,394
- Operating Profit
- 17,905
- OPM %
- 25
- Other Income
- 623
- Interest
- 505
- Depreciation
- 3,420
- 13,980
- Tax %
- 21
- Net Profit
- 11,057
- EPS
- 41
- Dividend Payout %
- 25
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 41
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 41
- 75,379
- 55,366
- Operating Profit
- 20,975
- OPM %
- 28
- Other Income
- 962
- Interest
- 511
- Depreciation
- 4,611
- 15,853
- Tax %
- 30
- Net Profit
- 11,169
- EPS
- 41
- Dividend Payout %
- 24
- Minority Interest
- -24
- Share of Associates
- 0
- Adjusted EPS
- 41
- Minority Interest
- -24
- Share of Associates
- 0
- Adjusted EPS
- 41
- 85,651
- 65,134
- Operating Profit
- 21,597
- OPM %
- 25
- Other Income
- 1,080
- Interest
- 319
- Depreciation
- 4,326
- 16,951
- Tax %
- 20
- Net Profit
- 13,523
- EPS
- 50
- Dividend Payout %
- 84
- Minority Interest
- -24
- Share of Associates
- 0
- Adjusted EPS
- 50
- Minority Interest
- -24
- Share of Associates
- 0
- Adjusted EPS
- 50
- 1,01,456
- 78,837
- Operating Profit
- 23,986
- OPM %
- 24
- Other Income
- 1,367
- Interest
- 353
- Depreciation
- 4,145
- 19,488
- Tax %
- 24
- Net Profit
- 14,845
- EPS
- 55
- Dividend Payout %
- 88
- Minority Interest
- 6
- Share of Associates
- 0
- Adjusted EPS
- 55
- Minority Interest
- 6
- Share of Associates
- 0
- Adjusted EPS
- 55
- 1,09,913
- 85,734
- Operating Profit
- 25,693
- OPM %
- 23
- Other Income
- 1,514
- Interest
- 553
- Depreciation
- 4,173
- 20,967
- Tax %
- 25
- Net Profit
- 15,710
- EPS
- 58
- Dividend Payout %
- 90
- Minority Interest
- -8
- Share of Associates
- 0
- Adjusted EPS
- 58
- Minority Interest
- -8
- Share of Associates
- 0
- Adjusted EPS
- 58
- 1,17,055
- 91,559
- Operating Profit
- 27,989
- OPM %
- 24
- Other Income
- 2,493
- Interest
- 644
- Depreciation
- 4,084
- 23,261
- Tax %
- 25
- Net Profit
- 17,399
- EPS
- 64
- Dividend Payout %
- 94
- Minority Interest
- -9
- Share of Associates
- 0
- Adjusted EPS
- 64
- Minority Interest
- -9
- Share of Associates
- 0
- Adjusted EPS
- 64
- 1,30,144
- 1,03,637
- Operating Profit
- 28,282
- OPM %
- 22
- Other Income
- 1,775
- Interest
- 869
- Depreciation
- 4,355
- 22,102
- Tax %
- 25
- Net Profit
- 16,652
- EPS
- 61
- Dividend Payout %
- 88
- Minority Interest
- -10
- Share of Associates
- 0
- Adjusted EPS
- 61
- Minority Interest
- -10
- Share of Associates
- 0
- Adjusted EPS
- 61
- 1,34,374
- 1,07,958
- Operating Profit
- —
- OPM %
- —
- Other Income
- 1,483
- Interest
- 744
- Depreciation
- 4,301
- 23,021
- Tax %
- 24
- Net Profit
- 17,434
- EPS
- —
- Dividend Payout %
- —
- Minority Interest
- -1
- Share of Associates
- 0
- Adjusted EPS
- —
- Minority Interest
- -1
- Share of Associates
- 0
- Adjusted EPS
- —
COMPOUNDED SALES GROWTH
- 10 Years:
- 15%
- 5 Years:
- 12%
- 3 Years:
- 9%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 12%
- 5 Years:
- 8%
- 3 Years:
- 4%
STOCK PRICE CAGR
- 10 Years:
- 13%
- 5 Years:
- 3%
- 3 Years:
- 4%
- 1 Year:
- -12%
RETURN ON EQUITY
- 10 Years:
- 24%
- 5 Years:
- 24%
- 3 Years:
- 24%
- Last Year:
- 23%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| LIABILITIES | - | - | - | - | - | - | - | - | - | - |
| Equity Capital | 285 | 278 | 271 | 543 | 543 | 543 | 543 | 543 | 543 | 543 |
| 32,643 | 36,096 | 41,090 | 50,724 | 59,370 | 61,289 | 64,474 | 67,081 | 68,842 | 74,066 | |
| 88 | 102 | 847 | 1,863 | 79 | 17 | 0 | 15 | 3 | 70 | |
| Trade Payables | 801 | 918 | 1,305 | 1,166 | 1,726 | 2,297 | 6,428 | 5,853 | 6,225 | 7,706 |
| 10,293 | 8,792 | 12,607 | 26,293 | 23,295 | 23,711 | 20,714 | 25,254 | 28,867 | 32,727 | |
| Total Liabilities | 44,110 | 46,186 | 56,120 | 80,589 | 85,013 | 87,857 | 92,159 | 98,746 | 1,04,480 | 1,15,112 |
| ASSETS | - | - | - | - | - | - | - | - | - | - |
| 15,235 | 18,753 | 22,888 | 37,490 | 37,145 | 35,077 | 34,619 | 35,063 | 36,172 | 37,297 | |
| Capital Work in Progress | 448 | 320 | 235 | 400 | 312 | 129 | 40 | 108 | 59 | 60 |
| 1,306 | 2,660 | 2,305 | 7,066 | 6,862 | 6,351 | 5,495 | 7,137 | 7,564 | 7,090 | |
| 276 | 172 | 91 | 91 | 94 | 161 | 228 | 185 | 133 | 239 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 25,506 | 25,521 | 25,842 | 31,541 | |
| Cash & Bank | 9,044 | 4,018 | 7,872 | 4,976 | 8,888 | 12,636 | 14,724 | 20,150 | 21,289 | 23,425 |
| 17,801 | 20,263 | 22,729 | 30,566 | 31,712 | 33,503 | 11,547 | 10,582 | 13,421 | 15,460 | |
| Total Assets | 44,110 | 46,186 | 56,120 | 80,589 | 85,013 | 87,857 | 92,159 | 98,746 | 1,04,480 | 1,15,112 |
| Total Debt | 582 | 557 | 4,195 | 5,092 | 3,907 | 3,985 | 2,251 | 2,327 | 2,291 | 159 |
| Net Working Capital | 15,128 | 14,451 | 17,423 | 14,690 | 25,668 | 29,266 | 32,146 | 36,605 | 34,070 | 38,716 |
| Contingent Liabilities | 1 | 1 | 1 | 133 | 133 | 346 | 2 | 346 | 346 | 346 |
| Book Value per Share | 231.07 | 261.68 | 305.25 | 188.83 | 220.67 | 227.74 | 239.47 | 249.08 | 255.56 | 274.80 |
| Face Value | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 |
| Total Debt | 582 | 557 | 4,195 | 5,092 | 3,907 | 3,985 | 2,251 | 2,327 | 2,291 | 159 |
| Net Working Capital | 15,128 | 14,451 | 17,423 | 14,690 | 25,668 | 29,266 | 32,146 | 36,605 | 34,070 | 38,716 |
| Contingent Liabilities | 1 | 1 | 1 | 133 | 133 | 346 | 2 | 346 | 346 | 346 |
| Book Value per Share | 231.07 | 261.68 | 305.25 | 188.83 | 220.67 | 227.74 | 239.47 | 249.08 | 255.56 | 274.80 |
| Face Value | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 |
- Equity Capital
- 285
- 32,643
- 88
- Trade Payables
- 801
- 10,293
- Total Liabilities
- 44,110
- 15,235
- Capital Work in Progress
- 448
- 1,306
- 276
- 0
- Cash & Bank
- 9,044
- 17,801
- Total Assets
- 44,110
- Total Debt
- 582
- Net Working Capital
- 15,128
- Contingent Liabilities
- 1
- Book Value per Share
- 231.07
- Face Value
- 2.00
- Total Debt
- 582
- Net Working Capital
- 15,128
- Contingent Liabilities
- 1
- Book Value per Share
- 231.07
- Face Value
- 2.00
- Equity Capital
- 278
- 36,096
- 102
- Trade Payables
- 918
- 8,792
- Total Liabilities
- 46,186
- 18,753
- Capital Work in Progress
- 320
- 2,660
- 172
- 0
- Cash & Bank
- 4,018
- 20,263
- Total Assets
- 46,186
- Total Debt
- 557
- Net Working Capital
- 14,451
- Contingent Liabilities
- 1
- Book Value per Share
- 261.68
- Face Value
- 2.00
- Total Debt
- 557
- Net Working Capital
- 14,451
- Contingent Liabilities
- 1
- Book Value per Share
- 261.68
- Face Value
- 2.00
- Equity Capital
- 271
- 41,090
- 847
- Trade Payables
- 1,305
- 12,607
- Total Liabilities
- 56,120
- 22,888
- Capital Work in Progress
- 235
- 2,305
- 91
- 0
- Cash & Bank
- 7,872
- 22,729
- Total Assets
- 56,120
- Total Debt
- 4,195
- Net Working Capital
- 17,423
- Contingent Liabilities
- 1
- Book Value per Share
- 305.25
- Face Value
- 2.00
- Total Debt
- 4,195
- Net Working Capital
- 17,423
- Contingent Liabilities
- 1
- Book Value per Share
- 305.25
- Face Value
- 2.00
- Equity Capital
- 543
- 50,724
- 1,863
- Trade Payables
- 1,166
- 26,293
- Total Liabilities
- 80,589
- 37,490
- Capital Work in Progress
- 400
- 7,066
- 91
- 0
- Cash & Bank
- 4,976
- 30,566
- Total Assets
- 80,589
- Total Debt
- 5,092
- Net Working Capital
- 14,690
- Contingent Liabilities
- 133
- Book Value per Share
- 188.83
- Face Value
- 2.00
- Total Debt
- 5,092
- Net Working Capital
- 14,690
- Contingent Liabilities
- 133
- Book Value per Share
- 188.83
- Face Value
- 2.00
- Equity Capital
- 543
- 59,370
- 79
- Trade Payables
- 1,726
- 23,295
- Total Liabilities
- 85,013
- 37,145
- Capital Work in Progress
- 312
- 6,862
- 94
- 0
- Cash & Bank
- 8,888
- 31,712
- Total Assets
- 85,013
- Total Debt
- 3,907
- Net Working Capital
- 25,668
- Contingent Liabilities
- 133
- Book Value per Share
- 220.67
- Face Value
- 2.00
- Total Debt
- 3,907
- Net Working Capital
- 25,668
- Contingent Liabilities
- 133
- Book Value per Share
- 220.67
- Face Value
- 2.00
- Equity Capital
- 543
- 61,289
- 17
- Trade Payables
- 2,297
- 23,711
- Total Liabilities
- 87,857
- 35,077
- Capital Work in Progress
- 129
- 6,351
- 161
- 0
- Cash & Bank
- 12,636
- 33,503
- Total Assets
- 87,857
- Total Debt
- 3,985
- Net Working Capital
- 29,266
- Contingent Liabilities
- 346
- Book Value per Share
- 227.74
- Face Value
- 2.00
- Total Debt
- 3,985
- Net Working Capital
- 29,266
- Contingent Liabilities
- 346
- Book Value per Share
- 227.74
- Face Value
- 2.00
- Equity Capital
- 543
- 64,474
- 0
- Trade Payables
- 6,428
- 20,714
- Total Liabilities
- 92,159
- 34,619
- Capital Work in Progress
- 40
- 5,495
- 228
- 25,506
- Cash & Bank
- 14,724
- 11,547
- Total Assets
- 92,159
- Total Debt
- 2,251
- Net Working Capital
- 32,146
- Contingent Liabilities
- 2
- Book Value per Share
- 239.47
- Face Value
- 2.00
- Total Debt
- 2,251
- Net Working Capital
- 32,146
- Contingent Liabilities
- 2
- Book Value per Share
- 239.47
- Face Value
- 2.00
- Equity Capital
- 543
- 67,081
- 15
- Trade Payables
- 5,853
- 25,254
- Total Liabilities
- 98,746
- 35,063
- Capital Work in Progress
- 108
- 7,137
- 185
- 25,521
- Cash & Bank
- 20,150
- 10,582
- Total Assets
- 98,746
- Total Debt
- 2,327
- Net Working Capital
- 36,605
- Contingent Liabilities
- 346
- Book Value per Share
- 249.08
- Face Value
- 2.00
- Total Debt
- 2,327
- Net Working Capital
- 36,605
- Contingent Liabilities
- 346
- Book Value per Share
- 249.08
- Face Value
- 2.00
- Equity Capital
- 543
- 68,842
- 3
- Trade Payables
- 6,225
- 28,867
- Total Liabilities
- 1,04,480
- 36,172
- Capital Work in Progress
- 59
- 7,564
- 133
- 25,842
- Cash & Bank
- 21,289
- 13,421
- Total Assets
- 1,04,480
- Total Debt
- 2,291
- Net Working Capital
- 34,070
- Contingent Liabilities
- 346
- Book Value per Share
- 255.56
- Face Value
- 2.00
- Total Debt
- 2,291
- Net Working Capital
- 34,070
- Contingent Liabilities
- 346
- Book Value per Share
- 255.56
- Face Value
- 2.00
- Equity Capital
- 543
- 74,066
- 70
- Trade Payables
- 7,706
- 32,727
- Total Liabilities
- 1,15,112
- 37,297
- Capital Work in Progress
- 60
- 7,090
- 239
- 31,541
- Cash & Bank
- 23,425
- 15,460
- Total Assets
- 1,15,112
- Total Debt
- 159
- Net Working Capital
- 38,716
- Contingent Liabilities
- 346
- Book Value per Share
- 274.80
- Face Value
- 2.00
- Total Debt
- 159
- Net Working Capital
- 38,716
- Contingent Liabilities
- 346
- Book Value per Share
- 274.80
- Face Value
- 2.00
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 8,995 | 8,328 | 8,971 | 13,359 | 19,618 | 16,900 | 18,009 | 22,448 | 22,261 | 19,975 | |
| Cash from Investing | -3,833 | -2,283 | -3,073 | -12,374 | -5,730 | 1,477 | -3,931 | -6,723 | -4,914 | -1,473 |
| Cash from Financing | -4,517 | -5,714 | -1,471 | -3,168 | -11,192 | -14,508 | -15,881 | -15,464 | -18,561 | -19,369 |
| 645 | 331 | 4,427 | -2,183 | 2,696 | 3,869 | -1,803 | 261 | -1,214 | -867 | |
| Free Cash Flow | 2,925 | 3,817 | 2,965 | -3,308 | 17,617 | 16,315 | 14,884 | 18,179 | 19,219 | 14,713 |
| OCF / Net Profit | 1.05 | 0.95 | 0.89 | 1.21 | 1.76 | 1.25 | 1.21 | 1.43 | 1.28 | 1.20 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 24,016 | 37,406 | 48,473 | 63,687 | 86,214 | 83,310 |
| OCF / Net Profit | 1.05 | 0.95 | 0.89 | 1.21 | 1.76 | 1.25 | 1.21 | 1.43 | 1.28 | 1.20 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 24,016 | 37,406 | 48,473 | 63,687 | 86,214 | 83,310 |
- 8,995
- Cash from Investing
- -3,833
- Cash from Financing
- -4,517
- 645
- Free Cash Flow
- 2,925
- OCF / Net Profit
- 1.05
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.05
- Cumulative 5-Year FCF
- 0
- 8,328
- Cash from Investing
- -2,283
- Cash from Financing
- -5,714
- 331
- Free Cash Flow
- 3,817
- OCF / Net Profit
- 0.95
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 0.95
- Cumulative 5-Year FCF
- 0
- 8,971
- Cash from Investing
- -3,073
- Cash from Financing
- -1,471
- 4,427
- Free Cash Flow
- 2,965
- OCF / Net Profit
- 0.89
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 0.89
- Cumulative 5-Year FCF
- 0
- 13,359
- Cash from Investing
- -12,374
- Cash from Financing
- -3,168
- -2,183
- Free Cash Flow
- -3,308
- OCF / Net Profit
- 1.21
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.21
- Cumulative 5-Year FCF
- 0
- 19,618
- Cash from Investing
- -5,730
- Cash from Financing
- -11,192
- 2,696
- Free Cash Flow
- 17,617
- OCF / Net Profit
- 1.76
- Cumulative 5-Year FCF
- 24,016
- OCF / Net Profit
- 1.76
- Cumulative 5-Year FCF
- 24,016
- 16,900
- Cash from Investing
- 1,477
- Cash from Financing
- -14,508
- 3,869
- Free Cash Flow
- 16,315
- OCF / Net Profit
- 1.25
- Cumulative 5-Year FCF
- 37,406
- OCF / Net Profit
- 1.25
- Cumulative 5-Year FCF
- 37,406
- 18,009
- Cash from Investing
- -3,931
- Cash from Financing
- -15,881
- -1,803
- Free Cash Flow
- 14,884
- OCF / Net Profit
- 1.21
- Cumulative 5-Year FCF
- 48,473
- OCF / Net Profit
- 1.21
- Cumulative 5-Year FCF
- 48,473
- 22,448
- Cash from Investing
- -6,723
- Cash from Financing
- -15,464
- 261
- Free Cash Flow
- 18,179
- OCF / Net Profit
- 1.43
- Cumulative 5-Year FCF
- 63,687
- OCF / Net Profit
- 1.43
- Cumulative 5-Year FCF
- 63,687
- 22,261
- Cash from Investing
- -4,914
- Cash from Financing
- -18,561
- -1,214
- Free Cash Flow
- 19,219
- OCF / Net Profit
- 1.28
- Cumulative 5-Year FCF
- 86,214
- OCF / Net Profit
- 1.28
- Cumulative 5-Year FCF
- 86,214
- 19,975
- Cash from Investing
- -1,473
- Cash from Financing
- -19,369
- -867
- Free Cash Flow
- 14,713
- OCF / Net Profit
- 1.20
- Cumulative 5-Year FCF
- 83,310
- OCF / Net Profit
- 1.20
- Cumulative 5-Year FCF
- 83,310
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | - | - | - | - | - | - | - | - | - | - |
| EPS (₹) | 60.39 | 62.74 | 74.69 | 40.73 | 41.05 | 49.72 | 54.70 | 57.83 | 64.05 | 61.30 |
| Book Value (₹) | 231.07 | 261.68 | 305.25 | 188.83 | 220.67 | 227.74 | 239.47 | 249.08 | 255.56 | 274.80 |
| Dividend per Share (₹) | 24.00 | 12.00 | 8.00 | 10.00 | 10.00 | 42.00 | 48.00 | 52.00 | 60.00 | 54.00 |
| Cash EPS (₹) | 33.10 | 36.35 | 44.99 | 53.32 | 58.12 | 65.74 | 69.94 | 73.23 | 79.13 | 77.37 |
| PROFITABILITY | - | - | - | - | - | - | - | - | - | - |
| Operating Margin % | 24.09% | 24.65% | 24.61% | 25.33% | 27.83% | 25.22% | 22.29% | 22.00% | 21.78% | 20.37% |
| Net Margin % | 18.09% | 17.25% | 16.75% | 15.64% | 14.82% | 15.79% | 14.63% | 14.29% | 14.86% | 12.80% |
| ROE % | 28.55% | 25.17% | 26.04% | 23.87% | 20.09% | 22.22% | 23.41% | 23.69% | 25.40% | 23.13% |
| ROCE % | 34.29% | 31.48% | 31.02% | 28.42% | 27.23% | 26.63% | 29.71% | 31.13% | 33.54% | 31.20% |
| 21.08% | 19.32% | 19.78% | 16.18% | 13.49% | 15.65% | 16.49% | 16.46% | 17.12% | 15.17% | |
| EFFICIENCY | - | - | - | - | - | - | - | - | - | - |
| Debtor Days | 61 | 65 | 64 | 67 | 67 | 62 | 74 | 85 | 80 | 80 |
| Inventory Days | 2 | 2 | 1 | 0 | 0 | 1 | 1 | 1 | 0 | 1 |
| Payable Days | 337 | 232 | 239 | 294 | 311 | 522 | 794 | 1247 | 1087 | 974 |
| -273 | -165 | -174 | -226 | -244 | -460 | -720 | -1162 | -1006 | -893 | |
| FINANCIAL HEALTH | - | - | - | - | - | - | - | - | - | - |
| Debt to Equity (x) | 0.02x | 0.02x | 0.10x | 0.10x | 0.07x | 0.06x | 0.03x | 0.03x | 0.03x | 0.00x |
| Interest Coverage (x) | 119.45x | 160.77x | 73.54x | 28.68x | 32.02x | 54.14x | 56.21x | 38.91x | 37.12x | 26.43x |
| 2.33x | 2.43x | 2.42x | 1.62x | 2.48x | 2.56x | 2.50x | 2.61x | 2.22x | 2.22x | |
| GROWTH | - | - | - | - | - | - | - | - | - | - |
| Revenue Growth % | 52.78% | 6.31% | 19.49% | 16.96% | 6.65% | 13.63% | 18.45% | 8.34% | 6.50% | 11.18% |
| Operating Profit Growth % | 52.36% | 8.78% | 19.31% | 20.42% | 17.15% | 2.97% | 11.06% | 7.12% | 8.94% | 1.05% |
| Net Profit Growth % | 53.63% | 1.35% | 16.03% | 9.26% | 1.01% | 21.08% | 9.78% | 5.83% | 10.75% | -4.29% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 10.02% | 5.73% | 10.75% | -4.30% | |
| VALUATION | - | - | - | - | - | - | - | - | - | - |
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 19.86x | 26.68x | 24.84x | 21.88x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 4.54x | 6.20x | 6.23x | 4.88x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 4.42% | 3.37% | 3.77% | 4.03% |
| 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 11.77x | 15.61x | 14.75x | 12.05x |
- EPS (₹)
- 60.39
- Book Value (₹)
- 231.07
- Dividend per Share (₹)
- 24.00
- Cash EPS (₹)
- 33.10
- Operating Margin %
- 24.09%
- Net Margin %
- 18.09%
- ROE %
- 28.55%
- ROCE %
- 34.29%
- 21.08%
- Debtor Days
- 61
- Inventory Days
- 2
- Payable Days
- 337
- -273
- Debt to Equity (x)
- 0.02x
- Interest Coverage (x)
- 119.45x
- 2.33x
- Revenue Growth %
- 52.78%
- Operating Profit Growth %
- 52.36%
- Net Profit Growth %
- 53.63%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
- EPS (₹)
- 62.74
- Book Value (₹)
- 261.68
- Dividend per Share (₹)
- 12.00
- Cash EPS (₹)
- 36.35
- Operating Margin %
- 24.65%
- Net Margin %
- 17.25%
- ROE %
- 25.17%
- ROCE %
- 31.48%
- 19.32%
- Debtor Days
- 65
- Inventory Days
- 2
- Payable Days
- 232
- -165
- Debt to Equity (x)
- 0.02x
- Interest Coverage (x)
- 160.77x
- 2.43x
- Revenue Growth %
- 6.31%
- Operating Profit Growth %
- 8.78%
- Net Profit Growth %
- 1.35%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
- EPS (₹)
- 74.69
- Book Value (₹)
- 305.25
- Dividend per Share (₹)
- 8.00
- Cash EPS (₹)
- 44.99
- Operating Margin %
- 24.61%
- Net Margin %
- 16.75%
- ROE %
- 26.04%
- ROCE %
- 31.02%
- 19.78%
- Debtor Days
- 64
- Inventory Days
- 1
- Payable Days
- 239
- -174
- Debt to Equity (x)
- 0.10x
- Interest Coverage (x)
- 73.54x
- 2.42x
- Revenue Growth %
- 19.49%
- Operating Profit Growth %
- 19.31%
- Net Profit Growth %
- 16.03%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
- EPS (₹)
- 40.73
- Book Value (₹)
- 188.83
- Dividend per Share (₹)
- 10.00
- Cash EPS (₹)
- 53.32
- Operating Margin %
- 25.33%
- Net Margin %
- 15.64%
- ROE %
- 23.87%
- ROCE %
- 28.42%
- 16.18%
- Debtor Days
- 67
- Inventory Days
- 0
- Payable Days
- 294
- -226
- Debt to Equity (x)
- 0.10x
- Interest Coverage (x)
- 28.68x
- 1.62x
- Revenue Growth %
- 16.96%
- Operating Profit Growth %
- 20.42%
- Net Profit Growth %
- 9.26%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
- EPS (₹)
- 41.05
- Book Value (₹)
- 220.67
- Dividend per Share (₹)
- 10.00
- Cash EPS (₹)
- 58.12
- Operating Margin %
- 27.83%
- Net Margin %
- 14.82%
- ROE %
- 20.09%
- ROCE %
- 27.23%
- 13.49%
- Debtor Days
- 67
- Inventory Days
- 0
- Payable Days
- 311
- -244
- Debt to Equity (x)
- 0.07x
- Interest Coverage (x)
- 32.02x
- 2.48x
- Revenue Growth %
- 6.65%
- Operating Profit Growth %
- 17.15%
- Net Profit Growth %
- 1.01%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
- EPS (₹)
- 49.72
- Book Value (₹)
- 227.74
- Dividend per Share (₹)
- 42.00
- Cash EPS (₹)
- 65.74
- Operating Margin %
- 25.22%
- Net Margin %
- 15.79%
- ROE %
- 22.22%
- ROCE %
- 26.63%
- 15.65%
- Debtor Days
- 62
- Inventory Days
- 1
- Payable Days
- 522
- -460
- Debt to Equity (x)
- 0.06x
- Interest Coverage (x)
- 54.14x
- 2.56x
- Revenue Growth %
- 13.63%
- Operating Profit Growth %
- 2.97%
- Net Profit Growth %
- 21.08%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
- EPS (₹)
- 54.70
- Book Value (₹)
- 239.47
- Dividend per Share (₹)
- 48.00
- Cash EPS (₹)
- 69.94
- Operating Margin %
- 22.29%
- Net Margin %
- 14.63%
- ROE %
- 23.41%
- ROCE %
- 29.71%
- 16.49%
- Debtor Days
- 74
- Inventory Days
- 1
- Payable Days
- 794
- -720
- Debt to Equity (x)
- 0.03x
- Interest Coverage (x)
- 56.21x
- 2.50x
- Revenue Growth %
- 18.45%
- Operating Profit Growth %
- 11.06%
- Net Profit Growth %
- 9.78%
- 10.02%
- P/E (x)
- 19.86x
- P/B (x)
- 4.54x
- Dividend Yield %
- 4.42%
- 11.77x
- EPS (₹)
- 57.83
- Book Value (₹)
- 249.08
- Dividend per Share (₹)
- 52.00
- Cash EPS (₹)
- 73.23
- Operating Margin %
- 22.00%
- Net Margin %
- 14.29%
- ROE %
- 23.69%
- ROCE %
- 31.13%
- 16.46%
- Debtor Days
- 85
- Inventory Days
- 1
- Payable Days
- 1247
- -1162
- Debt to Equity (x)
- 0.03x
- Interest Coverage (x)
- 38.91x
- 2.61x
- Revenue Growth %
- 8.34%
- Operating Profit Growth %
- 7.12%
- Net Profit Growth %
- 5.83%
- 5.73%
- P/E (x)
- 26.68x
- P/B (x)
- 6.20x
- Dividend Yield %
- 3.37%
- 15.61x
- EPS (₹)
- 64.05
- Book Value (₹)
- 255.56
- Dividend per Share (₹)
- 60.00
- Cash EPS (₹)
- 79.13
- Operating Margin %
- 21.78%
- Net Margin %
- 14.86%
- ROE %
- 25.40%
- ROCE %
- 33.54%
- 17.12%
- Debtor Days
- 80
- Inventory Days
- 0
- Payable Days
- 1087
- -1006
- Debt to Equity (x)
- 0.03x
- Interest Coverage (x)
- 37.12x
- 2.22x
- Revenue Growth %
- 6.50%
- Operating Profit Growth %
- 8.94%
- Net Profit Growth %
- 10.75%
- 10.75%
- P/E (x)
- 24.84x
- P/B (x)
- 6.23x
- Dividend Yield %
- 3.77%
- 14.75x
- EPS (₹)
- 61.30
- Book Value (₹)
- 274.80
- Dividend per Share (₹)
- 54.00
- Cash EPS (₹)
- 77.37
- Operating Margin %
- 20.37%
- Net Margin %
- 12.80%
- ROE %
- 23.13%
- ROCE %
- 31.20%
- 15.17%
- Debtor Days
- 80
- Inventory Days
- 1
- Payable Days
- 974
- -893
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 26.43x
- 2.22x
- Revenue Growth %
- 11.18%
- Operating Profit Growth %
- 1.05%
- Net Profit Growth %
- -4.29%
- -4.30%
- P/E (x)
- 21.88x
- P/B (x)
- 4.88x
- Dividend Yield %
- 4.03%
- 12.05x
Documents
Announcements
- Updates
2026-08-17 - Release: HCLTech report reveals telecom leaders identify AI as top revenue driver, but only 25% ready to scale '.
- Updates
2026-08-13 - HCL Technologies Limited has informed the Exchange regarding Release HCLTech and NetApp expand partnership for hybrid cloud storage-as-a-service to accelerate enterprise AI adoption .
Annual Reports
Credit Ratings
Nothing filed yet.
Concalls
Jul 2026
Apr 2026
Jan 2026

