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HCLTECH · NSE · Computers - Software & Consulting

HCL Technologies Ltd

What the numbers mean, from its filings and the exchange. Data as of 12 Oct 2026.
Large Cap · AMFI list Jan-Jun 2026 · Vendor sector: Technology
fair low confidence No valuation within 120 days; P/E 18.9 vs peers 23.3 (4th of 9); P/B 14.1 vs peers 6.2 (9th of 9).
Statements through FY2026Prices adjusted for 3 corporate actionsNot yet reviewed by the adversarial model

What is HCL Technologies's share price today?

HCL Technologies last traded at ₹1,223.00 on the NSE, as of 12 Oct 2026, 11:00 pm IST, up 0.5% on the day, down 18.6% over a year. Its 52-week range is ₹1,030 to ₹1,780. The live price is in the app.

₹1,223.00 +0.5% today
−18.6% over 1 year · NSE, as of 12 Oct 2026, 11:00 pm IST
60 month-end closes, 31 Oct 2021 to 30 Sep 2026, adjusted for splits and bonuses
52-week range26% of the way up
Low ₹1,030High ₹1,780

What is HCL Technologies's market cap?

HCL Technologies's market capitalisation is about ₹3.30 lakh crore: what it would cost to buy every share at today's price. That makes it the 23rd largest large cap company we cover.

₹3.3 L Cr Large Cap23rd largest large cap company
Large Cap means the 100 largest listed companies, under SEBI's rules. Shares in issue are worked out from the market cap and the price. What market cap tells you →

Key facts

From the exchange
Symbol
NSE: HCLTECH
ISIN
INE860A01027
Cap bucket
Large Cap, 23rd largest by market cap
Industry (NSE)
Information Technology › IT - Software › Computers - Software & Consulting
Listed since
2000
Futures and options
Traded

Is HCL Technologies overvalued?

Fair, with low confidence: no valuation within 120 days; P/E 18.9 vs peers 23.3 (4th of 9); P/B 14.1 vs peers 6.2 (9th of 9).

Valuation

Latest price and trailing 12 months
P/E 18.90
vs peers 23.3 · 4th of 9
Price divided by last year's earnings per share: how many years of today's profit you pay for. Learn more →
P/B 14.06
vs peers 6.2 · 9th of 9
Price divided by book value per share: what you pay for each rupee of net assets on the balance sheet. Learn more →
Market cap ₹3.30 lakh Cr
Total market value of all shares, in ₹ crore. Learn more →
Dividend yield 4.0%
vs peers 3.4% · 3rd of 9
Last year's dividends as a share of today's price. Learn more →
PEG (vendor) 10.93
vs peers 1.9 · 8th of 8
P/E divided by the vendor's earnings growth figure, which it does not disclose; a P/E adjusted for how fast profits grow. Learn more →
PEG on our 3-year EPS growth 4.88
P/E divided by the 3-year EPS growth rate from the stored accounts. Learn more →
3 models could be judged
Skipped — Fair value, EPV, Graham number, Graham value, Lynch, Owner earnings: no valuation stored

Our valuation range

🔒 Pro
Value range, implied growth at today's price, and the nine models behind it: in the app.

Is HCL Technologies a quality business?

Quality score 80, 1st of 9 in its peer set; WATCH on 26 of 30 flags judged.

Quality and risk

Data as of 12 Oct 2026
Business quality Not available
The kind of business, which sets the yardstick it is judged by. Learn more →
Quality score 80
vs peers 44.5 · 1st of 9
Returns, margins, leverage and consistency against its peers, out of 100. Learn more →
Risk level WATCH
26 of 30 flags judged
From flags on debt, earnings quality, dilution and price swings. Learn more →

Profitability

ROE 40.6%
vs peers 22.0% · 2nd of 9
Return on equity: profit as a share of shareholders' money. Learn more →
ROCE 50.3%
vs peers 27.5% · 2nd of 9
Return on capital employed: operating profit as a share of all the capital in the business, debt and equity. Learn more →
Profit margin 12.8%
vs peers 11.8% · 4th of 9
Profit after everything, as a share of revenue. Learn more →
EPS ₹61.33
Trailing 12 months
Profit for each share over the last 12 months.

Scorecard

🔒 Pro
Health scores and red flags with their values and history: in the app.
See the scorecard →
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Has HCL Technologies made money for shareholders?

Not over these periods: −18.6% over one year and −0.8% a year over five years.

Shareholder returns

1-year return −18.6%
Price only
What the share price did over the last 12 months. Learn more →
5-year return −0.8% a year
Price only
Yearly average price return over five years, bonuses and splits adjusted. Learn more →
Wealth destroyer Yes
Five-year total return — price CAGR on bonus- and split-adjusted closes plus the dividend yield — below the 7% a bank fixed deposit paid. Learn more →

Returns

3Y and 5Y are yearly averages
1W
+1.2%
1M
−3.0%
3M
−0.4%
6M
−14.9%
1Y
−18.6%
3Y
−1.2%
5Y
−0.8%

Does HCL Technologies pay a dividend?

Yes. HCL Technologies's dividend yield is 4.03% at the latest price; the last payout was ₹12.00 a share, ex-dividend 17 Jul 2026.

Dividends

Per share, by ex-dividend date
Dividend yield4.03%
The past 12 months' dividends as a share of today's price.
17 Jul 2026 · Interim 2₹12.00
24 Apr 2026 · Interim 1₹24.00
16 Jan 2026 · Interim 4₹12.00
17 Oct 2025 · Interim₹12.00
18 Jul 2025 · Interim₹12.00
Payout ratio🔒 In the app
The share of profit paid out as dividends; a very high share leaves little to reinvest.
Dividend growth, 5 years🔒 In the app
How fast the dividend per share has grown a year.
Years without a miss🔒 In the app
How many years in a row a dividend has been paid.

Is HCL Technologies growing?

Revenue 3 years 8.6% a year; profit 3 years 3.9% a year; revenue 5 years 9.4% a year.

Growth

Statements through FY2026 (Mar-26)
Revenue 3 years 8.6% a year
vs peers 6.4% · 4th of 9
Compound annual growth of revenue over three years. Learn more →
Profit 3 years 3.9% a year
vs peers 5.2% · 8th of 9
Compound annual growth of net profit over three years. Learn more →
Revenue 5 years 9.4% a year
Compound annual growth of revenue over five years. Learn more →
Profit 5 years 5.2% a year
Compound annual growth of net profit over five years. Learn more →
EPS 3 years 3.9% a year
Growth in earnings per share, so dilution counts against the company. Learn more →
EPS 5 years 8.3% a year
Growth in earnings per share over five years, so dilution counts against the company. Learn more →
P/E vs own history -13.7%
vs peers -22.1% · 6th of 9
Today's P/E against its own 5-year median; negative is cheaper than its history. Learn more →

How did HCL Technologies do last quarter?

HCL Technologies reported revenue of ₹34,579 Cr, up 11.2% on a year earlier and a net profit of ₹4,626 Cr, down 4.3% in the Jun 2026 quarter.

Latest quarter

Jun 2026
Revenue, latest quarter₹34,579 Cr
+11.2% on a year earlier
What the company took in over the quarter.
Net profit, latest quarter₹4,626 Cr
−4.3% on a year earlier
What was left for shareholders after every cost and tax.

How does HCL Technologies compare with its peers?

Compared with 8 Computers - Software & Consulting; 4th of 9 on P/E; 1st of 9 on quality score.

Compared with 8 Computers - Software & Consulting

8 companies

HCL Technologies against its peers

Largest 8 of 8 peers, by market cap
CompanyMarket capP/EP/BROEROCE1YQuality 🔒Rank 🔒
HCL Technologies Ltd₹3.3 L Cr18.914.140.6%50.3%−18.6%
Tata Consultancy Services Ltd₹7.8 L Cr15.110.161.5%71.4%−28.3%
Infosys Ltd₹4.2 L Cr13.86.334.7%43.3%−31.5%
Wipro Ltd₹1.6 L Cr12.93.119.1%21.9%−33.7%
Tech Mahindra Ltd₹1.5 L Cr26.16.217.5%20.9%+4.4%
LTM Ltd₹1.2 L Cr23.15.222.1%27.4%−26.0%
Persistent Systems Ltd₹91,022 Cr46.911.426.6%34.5%+8.3%
Coforge Ltd₹82,755 Cr37.94.618.9%18.5%+8.8%
Mphasis Ltd₹45,064 Cr23.56.022.0%27.5%−14.2%
Peer median—23.36.222.0%27.5%−20.1%
Market cap in rupees crore; P/E and P/B on the latest price; 1Y is the price return over a year. A dash is a figure that does not apply or is not reported.

Full peer comparison

🔒 Pro
Every peer, every figure, the ranks and the quality and forensic scores side by side: in the app.

Who owns HCL Technologies?

HCL Technologies is held by promoters 60.9%, foreign institutions 14.9%, domestic institutions 18.8%.

Shareholding pattern

Latest filing, percent of shares
Promoters60.9%
The founders and controlling group.
Foreign institutions14.9%
Overseas funds investing through the FPI route.
Domestic institutions18.8%
Indian insurers, banks, pension and mutual funds together.
Mutual funds9.0%
Indian mutual fund schemes; part of domestic institutions.
Retail and others3.5%
Individual investors and everyone else.
Promoter shares pledged🔒 In the app
Promoter shares given as collateral for loans; a high share is a risk to watch.
Holding trend🔒 In the app
Whether promoters, foreign funds and mutual funds have been adding or selling over recent quarters.

What do analysts say about HCL Technologies?

38 analysts cover HCL Technologies, and the consensus is hold. A consensus is a count of opinions, not a forecast; read it beside the numbers.

Analyst consensus

38 analysts
ConsensusHold
The rating most covering analysts give the share.
Average target price🔒 In the app
The mean of the analysts' 12-month price targets.
Upside to target🔒 In the app
How far the target sits above or below today's price.
Share rating it a buy🔒 In the app
The share of covering analysts with a buy rating.

What does HCL Technologies do and what is it sensitive to?

HCLTech is a full-stack global technology company providing IT and Business Services, Engineering and R&D Services, and software products to enterprises globally. Sensitive to: foreign exchange rate fluctuations (USD, GBP, Euro).

Business-model card

FY2025 · 48 verified
3Revenue
4Channels
3Regulators
3Reg. dependencies
5Sensitivities
4Costs
5Geographies

HCLTech is a full-stack global technology company providing IT and Business Services, Engineering and R&D Services, and software products to enterprises globally. It earns revenue through time-and-material, fixed-price, and software licensing arrangements, serving primarily G2000 and equivalent corporations in the US, Europe and rest of world.

Revenue by segment

year ended 31 March 2025 (consolidated)
IT and Business Services73.6%
Engineering and R&D services16.1%
HCL Software10.3%

Revenue engine

3 verified
IT and Business Services (ITBS) (73.8%)
Comprehensive portfolio of IT & Business Services (Application, Infrastructure and Digital Process Operations) and Digital transformation services enabled by Digital and Analytics, IoTWoRKs, Cloud native and Cybersecurity solutions
Engineering and R&D Services (ERS) (16.2%)
Comprehensive engineering services and solutions across software, embedded, mechanical, VLSI and platform engineering that support the end to end lifecycle of products – both hardware and software across diverse industries
HCLSoftware (10.3%)
Modernized software products and IP-led offerings to global clients for their technology and industry specific requirements; $1.4B enterprise software business with 70+ products

Customers & channels

4 verified
Global 2000 enterprises and equivalents
Partner to 50% of G500 and 40% of G2000 enterprises; Company seeks to be the preferred digital and AI partner for these entities and their equivalents
G2000 equivalent and emerging enterprises
Top twenty clients contribute around 30% of revenue; company targets G2000 equivalent companies such as privately held or government-owned entities and emerging companies
Financial Services, Manufacturing, Lifesciences & Healthcare, Technology & Services, Public Services, Retail & CPG, Telecommunications, Media, Publishing & Entertainment verticals
Go-to-market organization structured around key industry verticals to serve diverse customer segments
1 more statement
Digital transformation services via integrated ITBS and ERS offering
Unified services go-to-market structure to better understand client challenges, offer comprehensive solutions and increase wallet share

Regulators

3 verified
Securities and Exchange Board of India (SEBI)
Governs capital markets and listing obligations including insider trading, share-based employee benefits, delisting and buyback regulations
Stock Exchanges
Govern listing obligations and disclosure requirements; no penalties or strictures imposed in last three years
Reserve Bank of India / Foreign Exchange regulators
Govern foreign exchange management and overseas direct investment; company receives most revenue in foreign currencies

Regulatory dependencies

3 verified
Foreign Exchange Management Act compliance
Company generates most revenue from clients outside India and receives payments in foreign currencies (USD, GBP, Euro); FX fluctuation impacts P&L and requires hedging as per company strategy
Tax regime optionality under Indian tax law
Company can opt for new lower tax rate regime in lieu of current applicable rate subject to not claiming specified tax incentives; impacts effective tax rate and future MAT credit utilization
Bilateral advance pricing agreements (APAs) with tax authorities
Company has filed for bilateral APAs in certain jurisdictions for inter-company transactions with subsidiaries; some resolutions reached during year, others pending which could impact transfer pricing and tax liability

Sensitivities

5 verified
Foreign exchange rate fluctuations (USD, GBP, Euro)
Significant portion of revenue in US Dollar, GBP and Euro while large portion of costs in Indian rupees; fluctuation in exchange rates vs rupee impacts P&L and comprehensive income; company uses derivatives for hedging
Client IT spending and discretionary technology budgets
Company has grown during periods of high discretionary spending and during softening periods; performance reflects ability to execute through varying market conditions; global economic or political uncertainties may reduce IT spending
Geopolitical events and trade disruptions
Wars, trade disputes, sanctions, political instability can disrupt operations, affect supply chains, influence market access and impact profitability; may restrict talent mobility, cause contract terminations, project deferrals and client purchase delays
2 more statements
Talent availability and supply-side wage pressures
Shortage of AI-skilled talent, rising costs of hiring and retaining specialized AI SMEs; talent availability constraints can impact service delivery and cost structure
Technology adoption pace by enterprises
Rapid integration of AI, cloud computing and emerging technologies reshapes industries and creates opportunities; enterprises that adopt quickly gain competitive edge; pausing innovation not an option

Cost inputs

4 verified
Outsourcing expenses (hosting, facilities, disaster recovery, consultants)
Outsourcing of client-related activities including hosting services, facilities management, disaster recovery, maintenance and break fix services; increased 4.0% to ₹15,162 crores in FY25 due to normal business operations
Finance costs (interest on debt, lease liabilities, bank charges)
Interest on loans from banks, senior notes, lease liabilities, direct taxes, other interest cost and bank charges; increased 16.5% to ₹644 crores in FY25 due to interest cost on lease liabilities and working capital management
Depreciation and amortization (computers, networking equipment, buildings)
Depreciation and amortization of IT infrastructure and facilities; decreased 2.1% to ₹4,084 crores in FY25 primarily due to lower depreciation on computers and networking equipment
1 more statement
Employee benefit costs and talent management
Spending on employee wellbeing 2.21% of total revenue; talent management via GenAI-powered platforms; key cost driver for service delivery as headcount formerly coupled with revenue growth

Geographies

5 verified
United States of America (58.1%)
Largest geographic market for services and software; 58.1% of total revenue; represents primary client concentration and delivery target
Europe (26.7%)
Second largest geographic market; 26.7% of total revenue; target for expansion in Focus and New Frontier markets including Germany and France
India (3.1%)
3.1% of total revenue; includes revenue billed to India-based captive operations of global clients; target for New Vistas expansion in smaller urban areas
2 more statements
Rest of the world (54 countries total)
12.1% of total revenue; includes strategic expansion into Focus and New Frontier markets such as Germany, France, Japan, Mexico, Brazil; global delivery centers across 60 countries
Global delivery locations
220+ global delivery centers across 60 countries; nearshore and offshore expansion underway to access talent and develop service-delivery resilience via New Vistas
Each statement is checked word for word against the FY2025 annual report; the passages are in the app.

What changed recently?

Interim Dividend - Rs 12 Per Share (17 Jul 2026).

Change log

8 entries · newest first
  1. Corporate actionInterim Dividend - Rs 12 Per Share.
  2. Results filedQ1 FY2027 results filed.
  3. Corporate actionInterim Dividend - Rs 24 Per Share.
  4. Results filedQ4 FY2026 results filed.
  5. Corporate actionInterim Dividend - Rs 12 Per Share.
  6. Results filedQ3 FY2026 results filed.
  7. Corporate actionInterim Dividend - Rs 12 Per Share.
  8. Results filedQ2 FY2026 results filed.
Get alerts →Sign in to be told when any of these change.

What this page does not tell you

What could not be judged, and why. Never empty.
  • Models not runFair value, EPV, Graham number, Graham value, Lynch, Owner earnings: no valuation stored.
  • FlagsWATCH on 26 of 30 flags judged; 1 red; 4 could not be judged.
  • Data gapsBusiness quality: not available yet.
Not applicable to this company · 1
  • Altman ZAltman Z is a manufacturing model; a service business has no inventory or plant turnover for it to read.

What this page rests on

✓10 years of annual statements, through FY2026 (Mar-26)✓10 quarters of results✓285 months of month-end prices, adjusted for bonuses and splits (3 corporate actions)○no valuation of ours yet✓business-model card FY2025 · 48 verified

Questions people ask

What is HCL Technologies's share price today?

HCL Technologies last traded at ₹1,223.00 on the NSE, as of 12 Oct 2026, 11:00 pm IST, up 0.5% on the day, down 18.6% over a year. Its 52-week range is ₹1,030 to ₹1,780. The live price is in the app.

What is HCL Technologies's market cap?

HCL Technologies's market capitalisation is about ₹3.30 lakh crore: what it would cost to buy every share at today's price. That makes it the 23rd largest large cap company we cover.

Is HCL Technologies Ltd a large cap, mid cap or small cap?

HCL Technologies Ltd (HCLTECH) is a large cap company in AMFI's classification for Jan-Jun 2026. SEBI's buckets go by rank on six-month average market capitalisation: the top 100 are large caps, 101 to 250 mid caps, the rest small caps.

What is HCL Technologies Ltd's P/E ratio?

18.90, vs peers 23.3 · 4th of 9. Price divided by last year's earnings per share: how many years of today's profit you pay for.

Is HCL Technologies Ltd overvalued?

Fair, with low confidence: no valuation within 120 days; P/E 18.9 vs peers 23.3 (4th of 9); P/B 14.1 vs peers 6.2 (9th of 9).

How does HCL Technologies Ltd make money?

HCLTech is a full-stack global technology company providing IT and Business Services, Engineering and R&D Services, and software products to enterprises globally. It earns revenue through time-and-material, fixed-price, and software licensing arrangements, serving primarily G2000 and equivalent corporations in the US, Europe and rest of world.

Who are HCL Technologies Ltd's peers?

Compared with 8 Computers - Software & Consulting: Tata Consultancy Services Ltd, Infosys Ltd, Wipro Ltd, Tech Mahindra Ltd, LTM Ltd and 3 more. The app shows how they compare on every figure.

Is this investment advice?

No. Valarth is a research and learning tool and is not a SEBI-registered investment adviser or research analyst. The figures come from the company's filings and the exchanges; what to do with them is your call.

How did HCL Technologies do last quarter?

HCL Technologies reported revenue of ₹34,579 Cr, up 11.2% on a year earlier and a net profit of ₹4,626 Cr, down 4.3% in the Jun 2026 quarter.

Who owns HCL Technologies?

HCL Technologies is held by promoters 60.9%, foreign institutions 14.9%, domestic institutions 18.8%.

Does HCL Technologies pay a dividend?

Yes. HCL Technologies's dividend yield is 4.03% at the latest price; the last payout was ₹12.00 a share, ex-dividend 17 Jul 2026.

What do analysts say about HCL Technologies?

38 analysts cover HCL Technologies, and the consensus is hold. A consensus is a count of opinions, not a forecast; read it beside the numbers.

Everything on HCL Technologies, and 6,621 other companies, with 212 filters and the full peer tables

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