HCLTECH

HCL Technologies Limited

Global IT services — AI, digital engineering, cloud and enterprise software products

Information Technology›Information Technology›IT - Software›Computers - Software & Consulting

hcltech.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹1380.00
Market cap
3,74,670 Cr
Stock P/E
20.5
P/B
4.92
Dividend yield
4.3%
ROE (FY26)
22.1%
ROCE (FY26)
30.5%
Operating margin (FY26)
17.2%
Debt / equity (FY26)
0.0021
OCF / EBITDA (FY26)
74.7%
OCF / EBITDA (3Y)
84.6%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

HCLTech (HCL Technologies) sells AI, digital, engineering, cloud and software services and products to large enterprises worldwide, and is moving into AI data-center infrastructure.

Company snapshot

3rdBy market cap

Ranked among 50 companies in Computers - Software & Consulting.

Segment mix

Reportable segments as of 2024-12-31 (Standalone). Revenue share = segment revenue ÷ total revenue.

SegmentRevenue shareRevenuePBTAssets
Engineering and R&D Services—0 Cr0 Cr—
HCL Software—0 Cr0 Cr—
IT and Business Service—0 Cr0 Cr—

What we see

Positives
  • ✓Debt-to-equity of 0.00x — the company is largely funded by its own money, not borrowed funds.
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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricDec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026Sept 2026
Sales28,446 Cr28,499 Cr28,057 Cr28,862 Cr29,890 Cr30,246 Cr30,349 Cr31,942 Cr33,872 Cr33,981 Cr34,579 Cr35,620 Cr
Operating expenses (approx.)21,659 Cr22,382 Cr22,264 Cr22,493 Cr23,030 Cr23,764 Cr24,314 Cr25,397 Cr26,460 Cr27,269 Cr27,709 Cr28,143 Cr
EBITDA6,787 Cr6,117 Cr5,793 Cr6,369 Cr6,860 Cr6,482 Cr6,035 Cr6,545 Cr7,412 Cr6,712 Cr6,870 Cr7,477 Cr
OPM %23.9%21.5%20.6%22.1%23.0%21.4%19.9%20.5%21.9%19.8%19.9%21.0%
Other income370 Cr416 Cr1,103 Cr456 Cr477 Cr449 Cr456 Cr415 Cr385 Cr322 Cr361 Cr234 Cr
Interest140 Cr171 Cr191 Cr131 Cr166 Cr156 Cr209 Cr215 Cr205 Cr240 Cr84 Cr194 Cr
Depreciation1,143 Cr1,093 Cr998 Cr1,007 Cr1,039 Cr1,040 Cr1,093 Cr1,043 Cr1,127 Cr1,092 Cr1,039 Cr1,012 Cr
Profit before tax5,874 Cr5,269 Cr5,707 Cr5,687 Cr6,132 Cr5,735 Cr5,189 Cr5,702 Cr5,509 Cr5,702 Cr6,108 Cr6,467 Cr
Tax %25.9%24.2%25.4%25.5%25.1%24.9%25.9%25.7%25.9%21.3%24.3%20.6%
Net profit4,351 Cr3,995 Cr4,259 Cr4,237 Cr4,594 Cr4,309 Cr3,844 Cr4,236 Cr4,082 Cr4,490 Cr4,626 Cr5,132 Cr
EPS (₹)₹16.06₹14.72₹15.70₹15.62₹16.94₹15.90₹14.18₹15.63₹15.06₹16.59₹17.09₹18.96

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales47,568 Cr50,569 Cr60,427 Cr70,676 Cr75,379 Cr85,651 Cr1,01,456 Cr1,09,913 Cr1,17,055 Cr1,30,144 CrSign in free for the trailing twelve months
Operating expenses (approx.)37,184 Cr39,323 Cr46,501 Cr53,360 Cr55,331 Cr65,121 Cr78,828 Cr85,715 Cr91,551 Cr1,03,392 CrSign in free for the trailing twelve months
EBITDA10,384 Cr11,246 Cr13,926 Cr17,316 Cr20,048 Cr20,530 Cr22,628 Cr24,198 Cr25,504 Cr26,752 CrSign in free for the trailing twelve months
OPM %21.8%22.2%23.0%24.5%26.6%24.0%22.3%22.0%21.8%20.6%Sign in free for the trailing twelve months
Other income1,073 Cr1,217 Cr943 Cr589 Cr927 Cr1,067 Cr1,358 Cr1,495 Cr2,485 Cr1,530 CrSign in free for the trailing twelve months
Interest89 Cr69 Cr174 Cr505 Cr511 Cr319 Cr353 Cr553 Cr644 Cr869 CrSign in free for the trailing twelve months
Depreciation828 Cr1,383 Cr2,073 Cr3,420 Cr4,611 Cr4,326 Cr4,145 Cr4,173 Cr4,084 Cr4,355 CrSign in free for the trailing twelve months
Profit before tax10,542 Cr11,024 Cr12,622 Cr13,980 Cr15,853 Cr16,951 Cr19,488 Cr20,967 Cr23,261 Cr22,102 CrSign in free for the trailing twelve months
Tax %18.4%20.9%19.8%20.9%29.5%20.2%23.8%25.1%25.2%24.7%Sign in free for the trailing twelve months
Net profit8,606 Cr8,722 Cr10,120 Cr11,057 Cr11,169 Cr13,523 Cr14,845 Cr15,710 Cr17,399 Cr16,652 CrSign in free for the trailing twelve months
EPS (₹)₹60.33₹62.23₹73.58₹40.75₹41.07₹49.77₹54.85₹57.99₹64.16₹61.46Sign in free for the trailing twelve months
Dividend payout %————29.2%84.2%87.5%89.6%93.4%87.8%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital285 Cr278 Cr271 Cr543 Cr543 Cr543 Cr543 Cr543 Cr543 Cr543 Cr
Reserves32,664 Cr36,108 Cr41,095 Cr50,724 Cr59,370 Cr61,371 Cr64,862 Cr67,720 Cr69,112 Cr74,622 Cr
Borrowings438 Cr380 Cr3,701 Cr4,693 Cr3,828 Cr3,985 Cr2,251 Cr5,756 Cr2,291 Cr159 Cr
Other liabilities12,202 Cr11,257 Cr13,405 Cr26,792 Cr22,284 Cr23,042 Cr25,762 Cr25,750 Cr33,580 Cr40,902 Cr
Total liabilities45,762 Cr48,023 Cr58,575 Cr82,906 Cr86,194 Cr89,033 Cr93,411 Cr99,777 Cr1,05,544 Cr1,16,258 Cr
Fixed assets (net)3,998 Cr4,560 Cr5,293 Cr5,494 Cr5,642 Cr5,612 Cr5,371 Cr4,891 Cr4,501 Cr4,657 Cr
CWIP448 Cr320 Cr235 Cr400 Cr312 Cr129 Cr40 Cr108 Cr59 Cr60 Cr
Investments1,306 Cr2,660 Cr2,305 Cr7,066 Cr6,862 Cr6,351 Cr5,495 Cr7,137 Cr7,564 Cr7,090 Cr
Loans & advances——1,312 Cr3,422 Cr4,841 Cr3,008 Cr2,603 Cr795 Cr976 Cr1,017 Cr
Inventories276 Cr172 Cr91 Cr91 Cr94 Cr161 Cr228 Cr185 Cr133 Cr239 Cr
Trade receivables8,301 Cr9,639 Cr11,706 Cr14,131 Cr13,663 Cr20,671 Cr25,506 Cr25,521 Cr25,842 Cr31,541 Cr
Cash & bank1,321 Cr1,699 Cr5,934 Cr4,848 Cr6,521 Cr10,510 Cr9,065 Cr9,456 Cr8,245 Cr8,265 Cr
Other assets30,112 Cr28,973 Cr31,699 Cr47,454 Cr48,259 Cr42,591 Cr45,103 Cr51,684 Cr58,224 Cr63,389 Cr
Total assets45,762 Cr48,023 Cr58,575 Cr82,906 Cr86,194 Cr89,033 Cr93,411 Cr99,777 Cr1,05,544 Cr1,16,258 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity8,995 Cr8,328 Cr8,971 Cr13,359 Cr19,618 Cr16,900 Cr18,009 Cr22,448 Cr22,261 Cr19,975 Cr
Cash from investing-3,833 Cr-2,283 Cr-3,073 Cr-12,374 Cr-5,742 Cr1,477 Cr-3,931 Cr-6,723 Cr-4,914 Cr-1,473 Cr
Cash from financing-4,517 Cr-5,714 Cr-1,471 Cr-3,168 Cr-11,180 Cr-14,508 Cr-15,881 Cr-15,464 Cr-18,561 Cr-19,369 Cr
Net cash flow645 Cr331 Cr4,427 Cr-2,183 Cr2,761 Cr3,989 Cr-1,445 Cr376 Cr-1,196 Cr-50 Cr
Free cash flow (OCF − Capex)5,074 Cr2,984 Cr5,506 Cr11,493 Cr17,714 Cr15,255 Cr16,348 Cr21,400 Cr21,153 Cr18,553 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %31.7%30.2%28.3%25.8%25.6%26.2%29.3%29.1%33.2%30.5%
ROE %26.0%24.0%24.4%21.5%18.5%21.8%22.7%23.0%25.0%22.1%
Debtor days64697173668892858088
Inventory days2110011101
Days payable678682723191922
Cash conversion cycle60646367586269666167
OCF / EBITDA %86.6%74.1%64.4%77.1%97.9%82.3%79.6%92.8%87.3%74.7%
OCF / EBITDA % (3 years)——74.0%72.2%81.8%86.2%86.3%85.2%86.7%84.6%
Debt / equity0.010.010.090.090.060.060.030.080.030.0021
Current ratio——2.421.622.482.562.502.612.222.22
Net debt / EBITDA-0.09—-0.16-0.0090-0.13-0.32-0.30-0.15-0.23-0.30