HCL Technologies Limited

₹1,442As of Sun 8 Nov 2026, 12:00 UTC

NSE:HCLTECHTechnology

Country India

PE (Fwd) •••

TSR 10Y CAGR 17.49%

Div yield 3.74%

ROE 24.65%

Information Technology Services

Beta (5Y) (0.05)

PE TTM 20.89

TSR TTM (2.13%)

Mkt cap ₹3.903T

ROIC 33.86%

SE Grade™

Value

Quality

Moat

Consensus

Reference

₹1,671

15.88%

2174.06%

Hold 1|7|11|12|2

TTM

FYE 31 Mar USD

FY2017

FY2018

FY2019

FY2020

FY2021

FY2022

FY2023

FY2024

FY2025

FY2026

FY2027E

Trend

10Y

Peers

797.3

Revenue$B

435.4

454.9

478.8

500.3

528.3

555.2

586.6

622.8

655.8

688.3

830.3

5.44%

5.31%

27.69

Revenue growth%

17.27

16.58

13.71

12.59

14.05

13.86

12.13

10.58

11.39

11.26

24.93

11.39

13.15

18.67

Gross margin%

7.00

7.81

6.25

6.22

7.69

5.18

7.66

7.76

9.63

9.43

17.83

7.76

7.68

19.73

Operating margin%

14.23

13.02

15.00

12.65

15.22

15.74

15.41

14.79

13.40

13.26

12.55

14.79

14.51

12.47

Net margin%

24.90

23.93

22.38

23.33

20.95

18.33

15.37

17.18

14.75

14.64

24.53

15.37

19.64

12.86

P/E ratio (avg)x

10.08

9.709

10.62

10.80

10.05

9.196

10.00

11.28

12.36

11.14

26.23

11.14

10.35

6.153

EV/EBITx

23.09

20.85

20.10

21.32

18.91

19.20

18.50

16.50

15.54

15.10

28.76

16.50

19.06

5.83

FCF yield (avg)%

16.16

17.38

19.26

18.08

16.93

15.77

15.06

17.92

17.09

17.16

8.74

17.09

17.13

14.54

FCF margin%

30.18

28.42

26.73

29.72

27.86

29.55

28.76

29.25

28.70

29.20

9.65

29.20

28.98

1.672

FCF / Net incomex

0.832

0.868

0.830

0.864

0.942

1.049

1.121

1.135

1.293

1.249

0.368

1.135

0.995

19.44

ROIC%

0.40

3.38

6.23

7.18

8.76

11.36

10.11

12.13

14.49

17.03

11.71

12.13

9.44

11.87

Return on equity%

20.36

22.09

22.30

24.42

21.77

19.17

19.69

18.17

19.01

18.74

5.35

19.01

20.02

9.47

Return on assets%

20.48

20.99

23.96

25.58

24.21

24.48

23.41

25.96

27.89

26.02

27.00

25.96

24.34

79.95

EPS$

251.65

289.02

314.86

321.13

370.89

346.88

371.82

357.98

398.62

403.06

88.08

1.68%

5.52%

—

21.67

EPS growth%

5.14

2.41

3.43

6.41

5.58

6.50

6.55

7.11

4.54

6.40

4.06

6.50

5.99

186.27

Bookvalue per sh$

195.59

187.64

185.07

193.09

205.02

199.96

205.04

207.08

204.82

201.31

171.47

(0.36%)

1.19%

—

153.55

FCF per share$

428.64

422.79

437.45

499.47

562.37

600.99

598.40

658.18

711.73

746.24

105.27

5.82%

7.67%

—

185.89

Dividend per sh$

27.07

23.64

25.26

23.52

23.92

22.38

21.99

20.57

20.40

20.88

57.23

(2.69%)

(4.11%)

—

22.33

Div yield (avg)%

15.56

16.67

17.86

16.06

18.48

18.31

21.16

19.17

19.34

17.65

6.74

19.17

18.09

12.67

Payout ratio%

26.73

26.30

27.12

27.84

27.52

28.81

31.27

30.36

31.32

29.93

21.94

30.36

28.32

2.768

Shares (diluted)B

3.238

3.380

3.376

3.464

3.594

3.511

3.664

3.593

3.819

3.688

2.668

0.52%

2.26%

4.12

Buyback yield%

28.53

29.98

27.24

29.43

29.94

28.26

28.04

29.94

32.49

33.09

11.65

29.94

29.68

0.217

D/E ratiox

1.384

1.380

1.412

1.325

1.313

1.275

1.132

1.080

1.033

1.126

0.411

1.126

1.294

302.2

Enterprise value$B

178.1

166.1

160.0

149.7

142.7

127.8

114.1

116.7

124.9

115.0

126.7

(4.22%)

(5.71%)

686.9

LT debt$B

336.7

337.5

332.7

339.4

321.9

304.5

311.0

322.4

334.6

369.6

468.5

2.80%

0.87%

Peers (US$41.50B)

Cap (US$)

Tata Consultancy…

96.26B

17.52x

Infosys Limited

50.95B

15.40x

Wipro Limited

20.83B

15.56x

NEC Corporation

36.38B

18.27x

Capital

TTM

10Y

Leveragex

0.399

(0.025)

(0.023)

EBIT/Intx

1.096

0.146

0.128

Own earn%

80.20

165.17

184.52

Sh yield%

26.45

49.21

47.53

Owners

Insiders/Inst%

4.72

64.42

Short interest%

3.67

SBC / revenue%

0.68

Record

10Y

Profitable years

10/10

Revenue growth years

10/10

EPS growth years

10/10

Dividend streakyrs

Op margin range%

13–16

$1 testx

0.0

Incr. ROIC%

HCL Technologies Limited provides IT and business services, engineering, research and development services, software products, and IP-led offerings. It operates through IT and Business Services, Engineering and R&D Services, and HCL Software segments.

Growth vs revenue

Latest

Trend

10Y CAGR

Rel growth

Revenue

$688.3B

5.31%

1.00×

Cost of revenue

$444.5B

5.46%

1.01×

Operating expenses

$103.6B

4.48%

0.92×