HCL Technologies Limited Share Price & Analysis
Price Chart
Fundamentals
Strengths
- ✓Excellent return on equity (ROE 24%)
- ✓Efficient capital deployment (ROCE 30.6%)
- ✓Attractively valued vs sector (P/E 19.4x vs industry 38.1x)
- ✓Virtually debt-free
- ✓Regular dividends — yield 4.3%
- ✓Near 52-week low — potential value zone (₹1,103)
Peer Comparison
| Company | CMP | Mkt Cap | P/E | P/B | ROE % | ROCE % | D/E |
|---|---|---|---|---|---|---|---|
| TCS Tata Consultancy Services Limited | ₹2,196 | ₹8.9L Cr | 16.9 | 7.42 | 51.8 | 63 | 0.11 |
| INFY Infosys Limited | ₹1,199 | ₹5.2L Cr | 17.1 | 5.24 | 31.9 | 40 | 0.1 |
| WIPRO Wipro Limited | ₹198 | ₹2.2L Cr | 16.7 | 2.36 | 15.5 | 17.9 | 0.23 |
| TECHM Tech Mahindra Limited | ₹1,482 | ₹1.5L Cr | 30.8 | 4.91 | 17.6 | 23.1 | 0.07 |
| LTM LTM Limited | ₹4,026 | ₹1.3L Cr | 23.8 | 4.97 | 23.1 | 29.6 | 0.1 |
| OFSS Oracle Financial Services Software Limited | ₹9,969 | ₹90K Cr | 34.1 | 11.09 | 32.6 | 45.3 | 0 |
| PERSISTENT Persistent Systems Limited | ₹5,023 | ₹86K Cr | 44.7 | 10.11 | 27.3 | 34.4 | 0.06 |
Showing 7 peers in the same sector · Sorted by market cap
Shareholding Pattern
HCLTECH · as of Mar 2026
| Category | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Promoters | 60.82% | 60.82% | 60.82% | 60.82% | 60.82% | 60.82% |
| FII | 19.42% | 19.65% | 18.45% | 18.67% | 19.38% | 19.15% |
| DII | 15.12% | 14.95% | 15.77% | 15.78% | 15.21% | 15.44% |
| Public | 4.40% | 4.35% | 4.65% | 4.53% | 4.42% | 4.37% |
| Govt | 0.02% | 0.02% | 0.02% | 0.02% | 0.04% | 0.04% |
| Others | 0.21% | 0.21% | 0.28% | 0.18% | 0.13% | 0.18% |
Corporate Events
Interim Dividend - Rs 24 Per Share
Record: 24 Apr 2026
Interim Dividend - Rs 12 Per Share
Record: 16 Jan 2026
Interim Dividend - Rs 12 Per Share
Interim Dividend - Rs 12 Per Share
Interim Dividend - Rs 18 Per Share
Interim Dividend - Rs 12 Per Share Special Dividend - Rs 6 Per Share
Interim Dividend - Rs 12 Per Share
Interim Dividend - Rs 12 Per Share
Interim Dividend - Rs 18 Per Share
Interim Dividend - Rs 12 Per Share
Record: 19 Jan 2024
Latest News
All news →No-capex GCC models reduce costs, boost margins
*No-capex GCC models reduce costs, boost margins.* New global capability center (GCC) models requiring **zero capital expenditure** are lowering operational costs by **up to 30%** and reshaping profitability for Indian IT firms. This shift improves client economics and strengthens offshore outsourcing demand. Large IT players like TCS, Infosys, and HCLTech are adopting these models to enhance margins. 📊 *STOCKS:* TCS, INFY, HCLTECH | 🏢 *SECTOR:* IT | #MEDIUMIMPACT #GCC
HCLTech to invest $300 million in AI startup Sarvam
*HCLTech to invest $300 million in AI startup Sarvam.* This strategic move strengthens its AI and generative AI capabilities for global clients. The investment highlights HCLTech’s focus on emerging tech innovation. 📊 *STOCKS:* HCLTECH | 🏢 *SECTOR:* IT | #MEDIUMIMPACT #AI
Four Indian stocks added, four removed from MSCI index
In its May 2024 index reshuffle, MSCI added four Indian stocks and removed four others, effective June 3. Additions include **ADANIPORTS**, **HCLTECH**, **ICICIBANK**, and **AXISBANK**, while deletions feature **LT**, **TCS**, **NTPC**, and **ULTRACEMCO**. The move may trigger passive fund inflows into added stocks and outflows from excluded ones. Index rebalancing impacts foreign portfolio investment flows in the near term. 📊 *STOCKS:* ADANIPORTS, HCLTECH, ICICIBANK, AXISBANK | 🏢 *SECTOR:* Indices | #MEDIUMIMPACT #MSCI
IT majors Q2 results reveal mixed hiring, layoff trends
*IT majors Q2 results reveal mixed hiring and layoff trends.* HCL, TCS, Infosys, Wipro, and Tech Mahindra Q2 earnings reflect divergent employment strategies across the sector. Results highlight ongoing workforce optimization amid macroeconomic headwinds. Monitor these **5 IT stocks** for hiring trajectory shifts impacting future margin expansion. 📊 *STOCKS:* $HCLTECH | $TCS | $INFY | $WIPRO | $TECHM | 🏢 *SECTOR:* IT | #MEDIUMIMPACT #Earnings
TCS, Infosys, Wipro, HCL Tech top Google search trends last month
*Four major IT stocks dominate Google search trends over past month.* **TCS, Infosys, Wipro, and HCL Tech** recorded highest search volumes among Indian tech firms, reflecting sustained retail investor interest in IT sector stocks. This metric indicates growing market attention though lacks fundamental catalysts. Retail traders monitoring sentiment indicators may track these search patterns for momentum signals. 📊 *STOCKS:* $TCS | $INFOSYS | $WIPRO | $HCLTECH | 🏢 *SECTOR:* IT | #LOWIMPACT #GoogleTrends
Financials
Quarterly Results
| Metric | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | ₹34.0K Cr ▲0.3% | ₹33.9K Cr ▲6.0% | ₹31.9K Cr ▲5.2% | ₹30.3K Cr ▲0.3% | ₹30.2K Cr ▲1.2% | ₹29.9K Cr ▲3.6% | ₹28.9K Cr ▲2.9% | ₹28.1K Cr |
| Op. Profit | ₹6.7K Cr ▼9.4% | ₹7.4K Cr ▲13.2% | ₹6.5K Cr ▲8.5% | ₹6.0K Cr ▼6.9% | ₹6.5K Cr ▼5.5% | ₹6.9K Cr ▲7.7% | ₹6.4K Cr ▲9.9% | ₹5.8K Cr |
| OPM | 20.0% ▼9.1% | 22.0% ▲10.0% | 20.0% ▲0.0% | 20.0% ▼4.8% | 21.0% ▼8.7% | 23.0% ▲4.5% | 22.0% ▲4.8% | 21.0% |
| Net Profit | ₹4.5K Cr ▲10.0% | ₹4.1K Cr ▼3.6% | ₹4.2K Cr ▲10.2% | ₹3.8K Cr ▼10.8% | ₹4.3K Cr ▼6.2% | ₹4.6K Cr ▲8.4% | ₹4.2K Cr ▼0.5% | ₹4.3K Cr |
| EPS (₹) | 16.54 ▲10.1% | 15.02 ▼3.8% | 15.61 ▲10.2% | 14.16 ▼10.8% | 15.87 ▼6.2% | 16.92 ▲8.4% | 15.61 ▼0.5% | 15.69 |
Values in ₹ Cr · Source: Screener.in
Annual Profit & Loss
| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹1.3L Cr ▲11.2% | ₹1.2L Cr ▲6.5% | ₹1.1L Cr ▲8.3% | ₹1.0L Cr ▲18.5% | ₹85.7K Cr ▲13.6% | ₹75.4K Cr ▲6.7% | ₹70.7K Cr ▲17.0% | ₹60.4K Cr ▲19.5% | ₹50.6K Cr ▲6.3% | ₹47.6K Cr |
| Expenses | ₹1.0L Cr ▲12.9% | ₹91.6K Cr ▲6.8% | ₹85.7K Cr ▲8.7% | ₹78.8K Cr ▲21.0% | ₹65.1K Cr ▲17.7% | ₹55.3K Cr ▲3.7% | ₹53.4K Cr ▲14.8% | ₹46.5K Cr ▲18.3% | ₹39.3K Cr ▲5.8% | ₹37.2K Cr |
| Op. Profit | ₹26.8K Cr ▲4.9% | ₹25.5K Cr ▲5.4% | ₹24.2K Cr ▲6.9% | ₹22.6K Cr ▲10.2% | ₹20.5K Cr ▲2.4% | ₹20.0K Cr ▲15.8% | ₹17.3K Cr ▲24.3% | ₹13.9K Cr ▲23.8% | ₹11.2K Cr ▲8.2% | ₹10.4K Cr |
| OPM | 21.0% ▼4.5% | 22.0% ▲0.0% | 22.0% ▲0.0% | 22.0% ▼8.3% | 24.0% ▼11.1% | 27.0% ▲12.5% | 24.0% ▲4.3% | 23.0% ▲4.5% | 22.0% ▲0.0% | 22.0% |
| Other Income | ₹574 Cr ▼76.9% | ₹2.5K Cr ▲66.2% | ₹1.5K Cr ▲10.1% | ₹1.4K Cr ▲27.3% | ₹1.1K Cr ▲15.1% | ₹927 Cr ▲57.4% | ₹589 Cr ▼37.5% | ₹943 Cr ▼23.3% | ₹1.2K Cr ▲15.1% | ₹1.1K Cr |
| Interest | ₹869 Cr ▲34.9% | ₹644 Cr ▲16.5% | ₹553 Cr ▲56.7% | ₹353 Cr ▲10.7% | ₹319 Cr ▼37.6% | ₹511 Cr ▲1.2% | ₹505 Cr ▲190.2% | ₹174 Cr ▲152.2% | ₹69 Cr ▼22.5% | ₹89 Cr |
| Depreciation | ₹4.4K Cr ▲6.6% | ₹4.1K Cr ▼2.1% | ₹4.2K Cr ▲0.7% | ₹4.1K Cr ▼4.2% | ₹4.3K Cr ▼6.2% | ₹4.6K Cr ▲34.8% | ₹3.4K Cr ▲65.0% | ₹2.1K Cr ▲49.9% | ₹1.4K Cr ▲67.0% | ₹828 Cr |
| PBT | ₹22.1K Cr ▼5.0% | ₹23.3K Cr ▲10.9% | ₹21.0K Cr ▲7.6% | ₹19.5K Cr ▲15.0% | ₹17.0K Cr ▲6.9% | ₹15.9K Cr ▲13.4% | ₹14.0K Cr ▲10.8% | ₹12.6K Cr ▲14.5% | ₹11.0K Cr ▲4.6% | ₹10.5K Cr |
| Tax % | 25.0% ▲0.0% | 25.0% ▲0.0% | 25.0% ▲4.2% | 24.0% ▲20.0% | 20.0% ▼33.3% | 30.0% ▲42.9% | 21.0% ▲5.0% | 20.0% ▼4.8% | 21.0% ▲16.7% | 18.0% |
| Net Profit | ₹16.7K Cr ▼4.3% | ₹17.4K Cr ▲10.8% | ₹15.7K Cr ▲5.8% | ₹14.8K Cr ▲9.8% | ₹13.5K Cr ▲21.1% | ₹11.2K Cr ▲1.0% | ₹11.1K Cr ▲9.3% | ₹10.1K Cr ▲16.0% | ₹8.7K Cr ▲1.3% | ₹8.6K Cr |
| EPS (₹) | 61.33 ▼4.3% | 64.08 ▲10.8% | 57.86 ▲5.7% | 54.73 ▲10.0% | 49.74 ▲21.1% | 41.07 ▲0.8% | 40.75 ▲9.2% | 37.31 ▲19.1% | 31.32 ▲3.8% | 30.16 |
| Div Payout | 88.0% ▼6.4% | 94.0% ▲4.4% | 90.0% ▲2.3% | 88.0% ▲4.8% | 84.0% ▲250.0% | 24.0% ▼4.0% | 25.0% ▲127.3% | 11.0% ▼42.1% | 19.0% ▼52.5% | 40.0% |
Values in ₹ Cr · Source: Screener.in
Balance Sheet
| Item | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Liabilities | ||||||||||
| Equity Capital | ₹543 Cr ▲0.0% | ₹543 Cr ▲0.0% | ₹543 Cr ▲0.0% | ₹543 Cr ▲0.0% | ₹543 Cr ▲0.0% | ₹543 Cr ▲0.0% | ₹543 Cr ▲100.4% | ₹271 Cr ▼2.5% | ₹278 Cr ▼2.5% | ₹285 Cr |
| Reserves | ₹74.6K Cr ▲8.0% | ₹69.1K Cr ▲2.1% | ₹67.7K Cr ▲4.4% | ₹64.9K Cr ▲5.7% | ₹61.4K Cr ▲3.4% | ₹59.4K Cr ▲17.0% | ₹50.7K Cr ▲23.4% | ₹41.1K Cr ▲13.8% | ₹36.1K Cr ▲10.5% | ₹32.7K Cr |
| Borrowings | ₹5.2K Cr ▼16.9% | ₹6.3K Cr ▲9.0% | ₹5.8K Cr ▲20.1% | ₹4.8K Cr ▼24.4% | ₹6.3K Cr ▼7.6% | ₹6.9K Cr ▼14.0% | ₹8.0K Cr ▲90.4% | ₹4.2K Cr ▲653.1% | ₹557 Cr ▼4.3% | ₹582 Cr |
| Other Liabilities | ₹35.9K Cr ▲25.7% | ₹28.5K Cr ▲14.3% | ₹25.0K Cr ▲8.4% | ₹23.1K Cr ▲11.6% | ₹20.7K Cr ▲7.2% | ₹19.3K Cr ▼18.2% | ₹23.6K Cr ▲84.3% | ₹12.8K Cr ▲15.8% | ₹11.0K Cr ▼9.7% | ₹12.2K Cr |
| Total Liabilities | ₹1.2L Cr ▲11.3% | ₹1.0L Cr ▲5.5% | ₹99.0K Cr ▲6.2% | ₹93.3K Cr ▲4.9% | ₹88.9K Cr ▲3.3% | ₹86.0K Cr ▲3.9% | ₹82.8K Cr ▲41.9% | ₹58.3K Cr ▲21.6% | ₹48.0K Cr ▲4.9% | ₹45.8K Cr |
| Assets | ||||||||||
| Fixed Assets | ₹37.4K Cr ▲3.3% | ₹36.2K Cr ▲3.2% | ₹35.1K Cr ▲1.3% | ₹34.6K Cr ▼1.3% | ₹35.1K Cr ▼5.6% | ₹37.1K Cr ▼0.9% | ₹37.5K Cr ▲63.8% | ₹22.9K Cr ▲22.0% | ₹18.8K Cr ▲23.1% | ₹15.2K Cr |
| CWIP | ₹60 Cr ▲1.7% | ₹59 Cr ▼45.4% | ₹108 Cr ▲170.0% | ₹40 Cr ▼69.0% | ₹129 Cr ▼58.7% | ₹312 Cr ▼22.0% | ₹400 Cr ▲70.2% | ₹235 Cr ▼26.6% | ₹320 Cr ▼28.6% | ₹448 Cr |
| Investments | ₹7.1K Cr ▼6.3% | ₹7.6K Cr ▲6.0% | ₹7.1K Cr ▲29.9% | ₹5.5K Cr ▼13.5% | ₹6.4K Cr ▼7.4% | ₹6.9K Cr ▼2.9% | ₹7.1K Cr ▲206.6% | ₹2.3K Cr ▼13.3% | ₹2.7K Cr ▲103.7% | ₹1.3K Cr |
| Other Assets | ₹71.7K Cr ▲18.2% | ₹60.7K Cr ▲7.0% | ₹56.7K Cr ▲6.8% | ₹53.1K Cr ▲12.1% | ₹47.4K Cr ▲13.5% | ₹41.7K Cr ▲10.2% | ₹37.9K Cr ▲15.0% | ₹32.9K Cr ▲25.4% | ₹26.3K Cr ▼8.7% | ₹28.8K Cr |
| Total Assets | ₹1.2L Cr ▲11.3% | ₹1.0L Cr ▲5.5% | ₹99.0K Cr ▲6.2% | ₹93.3K Cr ▲4.9% | ₹88.9K Cr ▲3.3% | ₹86.0K Cr ▲3.9% | ₹82.8K Cr ▲41.9% | ₹58.3K Cr ▲21.6% | ₹48.0K Cr ▲4.9% | ₹45.8K Cr |
Values in ₹ Cr · Source: Screener.in
Cash Flow Statement
| Item | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating CF | ₹20.0K Cr ▼10.3% | ₹22.3K Cr ▼0.8% | ₹22.4K Cr ▲24.6% | ₹18.0K Cr ▲6.6% | ₹16.9K Cr ▼13.9% | ₹19.6K Cr ▲46.9% | ₹13.4K Cr ▲48.9% | ₹9.0K Cr ▲7.7% | ₹8.3K Cr ▼7.4% | ₹9.0K Cr |
| Investing CF | ₹-1.5K Cr ▲69.9% | ₹-4.9K Cr ▲25.9% | ₹-6.6K Cr ▼84.9% | ₹-3.6K Cr ▼323.7% | ₹1.6K Cr ▲128.2% | ₹-5.7K Cr ▲54.1% | ₹-12.3K Cr ▼278.7% | ₹-3.3K Cr ▼45.6% | ₹-2.2K Cr ▲42.5% | ₹-3.9K Cr |
| Financing CF | ₹-19.4K Cr ▼4.4% | ₹-18.6K Cr ▼20.0% | ₹-15.5K Cr ▲2.6% | ₹-15.9K Cr ▼9.5% | ₹-14.5K Cr ▼29.6% | ₹-11.2K Cr ▼253.3% | ₹-3.2K Cr ▼115.4% | ₹-1.5K Cr ▲74.3% | ₹-5.7K Cr ▼26.5% | ₹-4.5K Cr |
| Net Cash Flow | ₹-867 Cr ▲27.5% | ₹-1.2K Cr ▼418.1% | ₹376 Cr ▲126.0% | ₹-1.4K Cr ▼136.2% | ₹4.0K Cr ▲44.5% | ₹2.8K Cr ▲229.0% | ₹-2.1K Cr ▼150.4% | ₹4.2K Cr ▲1022.8% | ₹378 Cr ▼35.7% | ₹588 Cr |
| Free Cash Flow | ₹18.6K Cr ▼12.3% | ₹21.2K Cr ▼1.2% | ₹21.4K Cr ▲29.4% | ₹16.6K Cr ▲8.0% | ₹15.3K Cr ▼14.1% | ₹17.9K Cr ▲54.9% | ₹11.5K Cr ▲108.2% | ₹5.5K Cr ▲84.1% | ₹3.0K Cr ▼42.0% | ₹5.2K Cr |
Values in ₹ Cr · Source: Screener.in
Key Ratios History
| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 66d ▼18.5% | 81d ▼4.7% | 85d ▼7.6% | 92d ▲4.5% | 88d ▲3.5% | 85d ▲16.4% | 73d ▲2.8% | 71d ▲1.4% | 70d ▲9.4% | 64d |
| Inventory Days | — | — | — | — | — | — | — | — | — | — |
| Days Payable | — | — | — | — | — | — | — | — | — | — |
| Cash Conv. Cycle | 66d ▼18.5% | 81d ▼4.7% | 85d ▼7.6% | 92d ▲4.5% | 88d ▲3.5% | 85d ▲16.4% | 73d ▲2.8% | 71d ▲1.4% | 70d ▲9.4% | 64d |
| Working Capital Days | 43d ▲152.9% | 17d ▼45.2% | 31d ▼27.9% | 43d ▼2.3% | 44d ▼8.3% | 48d ▲242.9% | 14d ▼68.2% | 44d ▼24.1% | 58d ▲52.6% | 38d |
| ROCE | 31.0% ▼3.1% | 32.0% ▲6.7% | 30.0% ▲7.1% | 28.0% ▲12.0% | 25.0% ▼3.8% | 26.0% ▼3.7% | 27.0% ▼12.9% | 31.0% ▲0.0% | 31.0% ▼8.8% | 34.0% |
Source: Screener.in · Lower days = better efficiency
Deep Dive Analysis
About HCL Technologies Limited
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.
Information Technology · IT - Software