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.
Price from Yahoo Finance, delayed · Fundamentals as reportedData as published. No model runs on this page.
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| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 26,296 | 26,672 | 28,446 | 28,499 | 28,057 | 28,862 | 29,890 | 30,246 | 30,349 | 31,942 | 33,872 |
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The business narrative, written down and turned into explicit assumptions.
A valuation from those assumptions, under bull, base and bear cases.
Where today's price sits relative to that range.
| 33,981 |
| 34,579 |
| Expenses + | 20,931 | 20,743 | 21,659 | 22,382 | 22,264 | 22,493 | 23,030 | 23,764 | 24,314 | 25,397 | 26,460 | 27,269 | 27,709 |
| Operating Profit | 5,365 | 5,929 | 6,787 | 6,117 | 5,793 | 6,369 | 6,860 | 6,482 | 6,035 | 6,545 | 7,412 | 6,712 | 6,870 |
| OPM % | 20% | 22% | 24% | 21% | 21% | 22% | 23% | 21% | 20% | 20% | 22% | 20% | 20% |
| Other Income + | 344 | 365 | 370 | 416 | 1,103 | 456 | 477 | 449 | 456 | 415 | -571 | 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 |
| Profit before tax | 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 % | 25% | 25% | 26% | 24% | 25% | 26% | 25% | 25% | 26% | 26% | 26% | 21% | 24% |
| Net Profit + | 3,531 | 3,833 | 4,351 | 3,995 | 4,259 | 4,237 | 4,594 | 4,309 | 3,844 | 4,236 | 4,082 | 4,490 | 4,626 |
| EPS in Rs | 13.02 | 14.12 | 16.03 | 14.69 | 15.69 | 15.61 | 16.92 | 15.87 | 14.16 | 15.61 | 15.02 | 16.54 | 17.04 |
| Raw PDF |
| Jun 2015 | Mar 2016 9m | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 36,701 | 31,136 | 47,568 | 50,569 | 60,427 | 70,676 | 75,379 | 85,651 | 101,456 | 109,913 | 117,055 | 130,144 | 134,374 |
| Expenses + | 28,215 | 24,482 | 37,178 | 39,323 | 46,501 | 53,360 | 55,331 | 65,122 | 78,828 | 85,715 | 91,551 | 103,392 | 106,835 |
| Operating Profit | 8,486 | 6,654 | 10,390 | 11,246 | 13,926 | 17,316 | 20,048 | 20,529 | 22,628 | 24,198 | 25,504 | 26,752 | 27,539 |
| OPM % | 23% | 21% | 22% | 22% | 23% | 24% | 27% | 24% | 22% | 22% | 22% | 21% | 20% |
| Other Income + | 1,126 | 871 | 1,069 | 1,230 | 943 | 589 | 927 | 1,067 | 1,358 | 1,495 | 2,485 | 574 | 527 |
| Interest | 91 | 74 | 89 | 69 | 174 | 505 | 511 | 319 | 353 | 553 | 644 | 869 | 744 |
| Depreciation | 404 | 410 | 828 | 1,383 | 2,073 | 3,420 | 4,611 | 4,326 | 4,145 | 4,173 | 4,084 | 4,355 | 4,301 |
| Profit before tax | 9,117 | 7,041 | 10,542 | 11,024 | 12,622 | 13,980 | 15,853 | 16,951 | 19,488 | 20,967 | 23,261 | 22,102 | 23,021 |
| Tax % | 20% | 20% | 18% | 21% | 20% | 21% | 30% | 20% | 24% | 25% | 25% | 25% | |
| Net Profit + | 7,342 | 5,602 | 8,606 | 8,722 | 10,120 | 11,057 | 11,169 | 13,523 | 14,845 | 15,710 | 17,399 | 16,652 | 17,434 |
| EPS in Rs | 26.02 | 19.86 | 30.16 | 31.32 | 37.31 | 40.75 | 41.07 | 49.74 | 54.73 | 57.86 | 64.08 | 61.33 | 64.21 |
| Dividend Payout % | 58% | 40% | 40% | 19% | 11% | 25% | 24% | 84% | 88% | 90% | 94% | 88% |
| Jun 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 281 | 282 | 285 | 278 | 271 | 543 | 543 | 543 | 543 | 543 | 543 | 543 |
| Reserves | 23,943 |
| 27,109 |
| 32,664 |
| 36,108 |
| 41,095 |
| 50,724 |
| 59,370 |
| 61,371 |
| 64,862 |
| 67,720 |
| 69,112 |
| 74,622 |
| Borrowings + | 648 | 1,090 | 582 | 557 | 4,195 | 7,986 | 6,864 | 6,343 | 4,794 | 5,756 | 6,276 | 5,215 |
| Other Liabilities + | 10,372 | 10,859 | 12,231 | 11,046 | 12,788 | 23,566 | 19,270 | 20,664 | 23,051 | 24,987 | 28,549 | 34,732 |
| Total Liabilities | 35,245 | 39,341 | 45,762 | 47,989 | 58,349 | 82,819 | 86,047 | 88,921 | 93,250 | 99,006 | 104,480 | 115,112 |
| Fixed Assets + | 8,275 | 9,716 | 15,235 | 18,753 | 22,888 | 37,490 | 37,145 | 35,077 | 34,619 | 35,063 | 36,172 | 37,297 |
| CWIP | 552 | 611 | 448 | 320 | 235 | 400 | 312 | 129 | 40 | 108 | 59 | 142 |
| Investments | 869 | 698 | 1,306 | 2,660 | 2,305 | 7,066 | 6,862 | 6,351 | 5,495 | 7,137 | 7,564 | 7,090 |
| Other Assets + | 25,548 | 28,315 | 28,773 | 26,256 | 32,921 | 37,863 | 41,728 | 47,364 | 53,096 | 56,698 | 60,685 | 70,583 |
| Total Assets | 35,245 | 39,341 | 45,762 | 47,989 | 58,349 | 82,819 | 86,047 | 88,921 | 93,250 | 99,006 | 104,480 | 115,112 |