HCL Technologies Ltd
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. The company provides application development, management, modernization, and testing services, as well as commercial applications; automation services, including digital integration, business process management, robotic process automation for intelligent automation, and low- and no-code services; digital process operations, such as customer experience management, hyper intelligent automation, supply chain management, finance and accounting, marketing operations and content, and human resource services; and data and AI services that consist of strategy and advisory, modernize data, simplify insights, and scale AI. It also offers commercial applications for sales, accounting, finance, HR, inventory, and manufacturing operations; cybersecurity services; systems engineering, simulation process and data management, manufacturing engineering, supplier collaboration, and digital thread and twin, as well as application, service, and product lifecycle management; and HCLTech Career Shaper, a learning and assessment platform. In addition, the company provides cloud engineering, digital platform engineering, digital commerce and manufacturing, silicon platform solutions, 5G engineering, SemiCloud, and AITech services; and IT enablement and service desk, unified communication and collaboration, workplace assessment and automation, mobility, and cloud office services. Further, it offers intelligent operations, internet of things, marketing services, operational technology, product engineering, supply chain, unified service management, and enterprise network solutions. The company has a strategic partnership with Cisco Systems, Inc. to launch a Fluid Contact Center solution that features AI and cloud-enabled capabilities to help enterprises transform customer engagement. The company was founded in 1976 and is headquartered in Noida, India.
Valuation
Profitability
Returns
Solvency
AI Summary
Indian StockRule-based from financial data. Not advice.
Historically, Nov has averaged the highest return (+4.5%); Apr the lowest (-6.6%).
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +4.3%Positive MonthJan 2026: +4.32% | -18.0%Negative MonthFeb 2026: -17.96% | -3.5%Negative MonthMar 2026: -3.53% | -10.6%Negative MonthApr 2026: -10.60% | -2.9%Negative MonthMay 2026: -2.94% | -7.9%Negative MonthJun 2026: -7.88% | +25.6%Positive MonthJul 2026: +25.61% | -3.5%*Negative MonthAug 2026: -3.45% | β | β | β | β |
| 2025 | -10.1%Negative MonthJan 2025: -10.07% | -8.7%Negative MonthFeb 2025: -8.71% | +1.0%Neutral MonthMar 2025: +1.02% | -1.7%Neutral MonthApr 2025: -1.69% | +4.7%Positive MonthMay 2025: +4.70% | +5.5%Positive MonthJun 2025: +5.51% | -15.1%Negative MonthJul 2025: -15.07% | -0.8%Neutral MonthAug 2025: -0.81% | -4.8%Negative MonthSep 2025: -4.84% | +11.3%Positive MonthOct 2025: +11.29% | +5.6%Positive MonthNov 2025: +5.60% | -0.2%Neutral MonthDec 2025: -0.21% |
| 2024 | +7.5%Positive MonthJan 2024: +7.48% | +5.8%Positive MonthFeb 2024: +5.80% | -7.4%Negative MonthMar 2024: -7.43% | -11.4%Negative MonthApr 2024: -11.39% | -3.3%Negative MonthMay 2024: -3.27% | +10.3%Positive MonthJun 2024: +10.34% | +12.5%Positive MonthJul 2024: +12.49% | +6.7%Positive MonthAug 2024: +6.71% | +2.4%Positive MonthSep 2024: +2.42% | -1.5%Neutral MonthOct 2024: -1.48% | +4.6%Positive MonthNov 2024: +4.58% | +3.8%Positive MonthDec 2024: +3.76% |
| 2023 | +8.1%Positive MonthJan 2023: +8.09% | -4.1%Negative MonthFeb 2023: -4.05% | +0.8%Neutral MonthMar 2023: +0.80% | -2.1%Negative MonthApr 2023: -2.08% | +7.7%Positive MonthMay 2023: +7.70% | +3.7%Positive MonthJun 2023: +3.69% | -7.1%Negative MonthJul 2023: -7.12% | +6.3%Positive MonthAug 2023: +6.31% | +5.4%Positive MonthSep 2023: +5.40% | +3.3%Positive MonthOct 2023: +3.29% | +5.0%Positive MonthNov 2023: +4.97% | +9.4%Positive MonthDec 2023: +9.39% |
| 2022 | -16.6%Negative MonthJan 2022: -16.61% | +2.5%Positive MonthFeb 2022: +2.48% | +3.3%Positive MonthMar 2022: +3.26% | -7.3%Negative MonthApr 2022: -7.25% | -3.6%Negative MonthMay 2022: -3.58% | -6.5%Negative MonthJun 2022: -6.46% | -2.5%Negative MonthJul 2022: -2.50% | -1.0%Neutral MonthAug 2022: -0.99% | -0.7%Neutral MonthSep 2022: -0.72% | +11.7%Positive MonthOct 2022: +11.69% | +7.6%Positive MonthNov 2022: +7.60% | -7.3%Negative MonthDec 2022: -7.29% |
| 2021 | β | β | β | β | β | +4.1%Positive MonthJun 2021: +4.15% | +4.2%Positive MonthJul 2021: +4.17% | +15.2%Positive MonthAug 2021: +15.21% | +8.3%Positive MonthSep 2021: +8.26% | -10.5%Negative MonthOct 2021: -10.53% | -0.4%Neutral MonthNov 2021: -0.44% | +15.7%Positive MonthDec 2021: +15.72% |
| AvgΒ±SD |
Each cell is the percentage change in closing price from the end of the prior month to the end of this month. The bottom row shows the average return for that calendar month across the selected years, plus or minus one standard deviation β the range that historically contained roughly two-thirds of outcomes. Past monthly patterns are not a forecast of future returns.
This aggregates every month by calendar position β all Januaries together, all Februaries together, and so on β to show whether a given month has leaned positive or negative historically. βSimpleβ counts each month as +1 or β1. βWeightedβ gives larger moves more influence: +2 above +10%, β2 below β10%. With only 6 years of history for this asset, each monthβs score reflects a small number of observations β read it as a historical tendency, not a reliable seasonal pattern.
This tracks a running tally across the assetβs full price history: each month adds or subtracts based on whether it was positive or negative. A rising line means more positive months than negative so far; a flattening or falling line means recent months have leaned negative. This measures historical month-to-month consistency, not expected future performance.
Year-to-date return is calculated by dividing each dayβs closing price by the price on January 1st of that year (or the assetβs first available price if it began trading mid-year). The custom average line shows the mean YTD return at each calendar day across the selected years. The standard deviation band shows the range within which returns have historically fallen β at 1 SD, roughly two-thirds of years; at 2 SD, roughly 95%. Past year-to-date patterns do not predict future returns. The average and standard deviation band are computed from the year set chosen in βAverage fromβ, which is independent of which year lines are displayed. The current in-progress year is excluded from these calculations, since a partial year is not comparable to complete ones. Election-cycle groupings follow the US presidential calendar and are offered only for US and crypto assets.
Historical Performance
Revenue, profitability, and cash flow trends (βΉ Crores)
Revenue (10Y)
Operating Income (10Y)
Net Profit (10Y)
Operating Margin % (10Y)
Dividend Payout % (10Y)
Free Cash Flow (10Y)
Growth Summary
Latest fiscal year: Mar 2025
Historical Growth
Year-by-year revenue, profitability, and cash flow (βΉ Crores, last 10 years)
| Year | Revenue | Op. Income | Net Profit | CFO | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|---|
| Mar 2025 | βΉ51.10 K Cr | β | βΉ12.27 K Cr | β | β | β | 6.2% | 5.1% |
| Mar 2024 | βΉ48.12 K Cr | β | βΉ11.67 K Cr | β | β | β | 4.0% | 1.9% |
| Mar 2023 | βΉ46.28 K Cr | β | βΉ11.46 K Cr | β | β | β | 13.9% | 5.4% |
| Mar 2022 | βΉ40.64 K Cr | β | βΉ10.87 K Cr | β | β | β | 13.9% | 24.4% |
| Mar 2021 | βΉ35.67 K Cr | β | βΉ8.74 K Cr | β | β | β | 9.2% | -2.5% |
| Mar 2020 | βΉ32.67 K Cr | β | βΉ8.97 K Cr | β | β | β | 25.6% | 9.6% |
| Mar 2019 | βΉ26.01 K Cr | β | βΉ8.19 K Cr | β | β | β | 17.8% | 11.2% |
| Mar 2018 | βΉ22.07 K Cr | β | βΉ7.36 K Cr | β | β | β | 14.3% | 7.1% |
| Mar 2017 | βΉ19.32 K Cr | β | βΉ6.87 K Cr | β | β | β | 43.8% | 45.6% |
| Mar 2016 | β | β | β | β | β | β | β | β |
Financial Statements
Income statement, balance sheet, and cash flow (βΉ Crores, as reported)
Consolidated Figures in USD Millions.
| Unnamed: 0 | Jun 2014 | Jun 2015 | Mar 2016 9m | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue / Net Sales | 16,497 | 17,153 | 13,435 | 19,318 | 22,073 | 26,012 | 32,666 | 35,673 | 40,638 | 46,276 | 48,118 | 51,105 | 55,573 |
| Total Expenses | 9,186 | 10,294 | 8,299 | 11,465 | 12,734 | 15,594 | 19,902 | 21,238 | 25,526 | 30,033 | 31,242 | 33,389 | 37,368 |
| EBIT / Operating Profit | 7,311 | 6,860 | 5,136 | 7,853 | 9,339 | 10,418 | 12,764 | 14,435 | 15,112 | 16,243 | 16,876 | 17,716 | 18,205 |
| OPM % | 44 | 40 | 38 | 41 | 42 | 40 | 39 | 40 | 37 | 35 | 35 | 35 | 33 |
| Other Income | 659 | 1,200 | 968 | 956 | 702 | 805 | 613 | 965 | 880 | 1,031 | 1,076 | 1,234 | 297 |
| Finance Costs | 82 | 61 | 46 | 55 | 23 | 16 | 240 | 177 | 109 | 127 | 125 | 156 | 255 |
| Depreciation & Amortisation | 491 | 300 | 277 | 478 | 893 | 1,276 | 1,959 | 2,813 | 2,615 | 2,431 | 2,371 | 2,320 | 2,338 |
| Profit Before Tax | 7,398 | 7,699 | 5,782 | 8,276 | 9,125 | 9,931 | 11,178 | 12,410 | 13,268 | 14,716 | 15,456 | 16,474 | 15,909 |
| Tax % | 19 | 18 | 18 | 17 | 19 | 18 | 20 | 30 | 18 | 22 | 24 | 26 | - |
| Net Profit / PAT | 5,985 | 6,346 | 4,719 | 6,873 | 7,362 | 8,185 | 8,969 | 8,743 | 10,874 | 11,459 | 11,674 | 12,266 | 11,572 |
| EPS (βΉ) | 21.37 | 22.57 | 16.73 | 24.09 | 26.44 | 30.17 | 33.05 | 32.22 | 40.07 | 42.23 | 43.02 | 45.20 | 42.64 |
| Dividend Payout % | 12 | 66 | 48 | 50 | 23 | 13 | 30 | 31 | 105 | 114 | 121 | 133 | - |
Peer Comparison
Technology sector peers, ranked by market cap
| Company | Market Cap | Revenue | P/E | P/B | EV/EBITDA | Rev G 1Y |
|---|---|---|---|---|---|---|
| HCL Technologies Ltdthis co. | βΉ4.52 L Cr | βΉ51.10 K Cr | 36.80 | 14.48 | 0.00 | 6.2% |
| Bharti Airtel Ltd. | βΉ12.19 L Cr | βΉ1.09 L Cr | 50.40 | 8.31 | 27.19 | 15.8% |
| Tata Consultancy Services Ltd. | βΉ11.84 L Cr | βΉ2.15 L Cr | 24.20 | 13.91 | 18.91 | 6.2% |
| Infosys Ltd | βΉ6.48 L Cr | βΉ1.37 L Cr | 24.20 | 7.17 | 16.31 | 5.9% |
| Bharat Electronics Ltd. | βΉ3.02 L Cr | βΉ23.66 K Cr | 53.30 | 14.23 | 51.32 | 17.3% |
| Wipro Ltd. | βΉ2.77 L Cr | βΉ67.29 K Cr | 23.00 | 4.29 | 18.85 | 0.8% |
| LTIMindtree Limited | βΉ1.81 L Cr | βΉ36.68 K Cr | 37.70 | 8.05 | 26.35 | 7.1% |
| Industry Average | β | βΉ10.05 K Cr | 69.99 | 8.58 | 66.75 | 22.0% |
