NSE/HCLTECH

HCLTECHHCL Technologies Ltd

Information Technology · NSE

₹1,442.3-0.54%

52-wk low52-WEEK RANGE52-wk high

₹1,311.8+9.9% from low ·-17.1% from high₹1,739.9

Price chart · 1M–10Y · daily-close

NSE bhavcopy + 10Y historical

HCLTECH+4.51% · 1Y

Range high ₹1,780.1Range low ₹1,297.7Latest ₹1,442.3252 bars · daily-close · NSE bhavcopy + 10Y history

Information TechnologyInformation Technology ServicesLargecapLow Risk

Stock scorecard

Auto-computed from latest ratios + sector context · not a buy/sell signal

Composite25/100

Performance

Low

Hasn't fared well — amongst the weak performers.

· 52w return -2.7% — underperformer
· Below 200-DMA (-5.9%) — downtrend

Valuation

High

Looks expensive vs the sector.

· P/E 23.5 close to sector median 26.2
· PEG 2.39 — pricey relative to growth

Growth

Low

Lagging the market in growth.

· Revenue YoY +7.4% — slow
· Profit YoY -15.9% — earnings slipping

Profitability

High

Showing good signs of profitability & efficiency.

· ROE 23.2% — high-quality compounder
· Top quartile ROE in Information Technology

DVM composite · Durability · Valuation · Momentum

Trendlyne-style 3-axis composite · all drivers shown below · not a buy/sell signal

CompositeB(66/100)

Durability

A+

87/100

Financially resilient — strong quality + solvency profile.

Show 4 drivers

Piotroski F-score6/9 (67pt)
Altman Z" score6.02 (100pt)
Debt/Equity0.10 (100pt)
ROE23.2% (93pt)

Valuation

54/100

Trading at a premium — growth must keep delivering to justify.

Show 5 drivers

P/E vs sector (23.5 / 26.2)90% (74pt)
PEG2.39 (26pt)
P/B5.11 (70pt)
Dividend yield3.74% (94pt)
EV/EBITDA1368.8 (0pt)

Momentum

57/100

Constructive setup — momentum building, not extended.

Show 5 drivers

52w change-2.7% (42pt)
DMA-trend alignmentsideways (50pt)
RSI (14)56.0 (99pt)
Price vs 200-DMA-5.8% (48pt)
MACD regimebullish (75pt)

Valuation positioning

Current ratio vs sector peer distribution

P/E (TTM)23.52

FAIR

CheapestP/E 23.5 near sector median.Most expensive

P/B5.11

FAIR

CheapestP/B 5.11 at 50th %ile of sector.Most expensive

EV/EBITDA1368.78

OVERVALUED

Monthly seasonality

Avg monthly return over 11 years · historical — not a forecast

Best: Dec +3.51% · Worst: Feb -1.86%

Jan

+0.7%

64% win

Feb

-1.9%

42% win

Mar

-0.7%

67% win

Apr

-0.5%

33% win

May

+0.9%

55% win

Jun

+0.5%

Monthly return distribution

Distribution of 135 monthly returns

Mean

+1.15%

Median

+1.20%

Std dev

7.58%

Best

+26.6%

Worst

-18.3%

% positive

55%

SWOT analysis

Auto-derived from ratios + sector context + forensics · research only, not a recommendation

STRENGTHS · 4

High-quality compounder (ROE 23.2%)
Above 20% ROE consistently flags capital-efficient businesses
Lean balance sheet (D/E 0.10)
Low leverage means earnings are less sensitive to rate cycles
Bankruptcy risk low (Altman Z″ 6.02)
Z″ above 2.60 sits squarely in the 'safe' zone
Top quartile ROE in Information Technology
Rank 5 of 18 peers

WEAKNESSES · 0

No material weaknesses flag from the numbers

OPPORTUNITIES · 0

No strong near-term catalysts visible

THREATS · 1

Profit contracting sharply (-15.9% YoY)
Double-digit earnings decline pressures valuation compression

RETURNS · DAILY-CLOSE BASED

3Y+ shown as CAGR

-0.5%

-0.6%

+8.8%

-12.4%

+3.8%

+2.8%

+9.7%

+8.0%

10Y

+12.3%

Fundamentals

VALUATION

Market cap

₹3,86,448 Cr

P/E (TTM)

23.5

P/E (fwd)

19.3

next 12m

P/B

5.11

EV/EBITDA

1368.8

Book value

₹279.30

per share

PROFITABILITY · QUALITY

ROE

23.2%

ROCE

—

Net margin

14.9%

Op margin

18.6%

Gross margin

34.3%

D/E

0.10

GROWTH · MARKET

Rev YoY

+7.4%

Profit YoY

-15.9%

Div yield

3.74%

Payout

89.0%

52w change

-2.7%

Beta

0.17

defensive

Pros and cons

Auto-derived from ratios · not a buy/sell recommendation

PROS · 4

+Forward P/E materially below trailing (19.3x vs 23.5x)Street expects earnings growth that compresses the multiple — positive surprise cushion
+High ROE of 23.2%Capital-efficient business — every rupee of equity generates 23.2 paise of earnings
+Nearly debt-free (D/E 0.10)Low financial risk — funds growth from internal accruals, resilient in downturns
+High dividend yield (3.74%)Meaningful income return even before price appreciation

CONS · 1

−Payout ratio above 80% (89%)Little retained earnings for reinvestment — dividend sustainability depends on stable earnings

Sector-relative context

Information Technology · 18 peers

P/E (TTM)

This stock

23.52

Sector median

26.23

Rank 8/18 (61th %ile)

ROE

This stock

23.2%

Sector median

19.8%

Rank 14/18 (28th %ile)

P/B

This stock

5.11

Sector median

5.38

Rank 9/18 (56th %ile)

Quality score · Piotroski F-score

6 / 9

Decent quality — clears Piotroski bar

✓Profitable (positive net income)· Most basic check — company makes money
✓Positive return on assets· Assets generate returns
✓Positive operating cash flow· Profits are backed by real cash, not accruals
✓Operating CF exceeds net profit· Healthy cash conversion — no aggressive revenue recognition
✗Long-term debt decreased YoY· Deleveraging — lower refinancing risk
✗ROA improved YoY· Getting more productive with the asset base
✓Operating margin expanded YoY· Pricing power or cost discipline
✗

Forensic score · Altman Z″ (emerging markets)

Bankruptcy-risk predictor · 1995 Altman emerging-market revision

SAFE6.02

Z″ = 6.02 — well inside the SAFE zone. Low bankruptcy risk signal across liquidity, profitability and solvency inputs.

Component	Ratio	Weight	Contribution
Working Capital / Total Assets (A)	0.004	×6.56	0.026
Retained Earnings / Total Assets (B)	0.624	×3.26	2.035
EBIT / Total Assets (C)	0.323	×6.72	2.168
Book Equity / Total Liabilities (D)	1.706	×1.05	1.791

Zones: Z″ ≥ 2.60 safe · 1.10–2.60 grey · < 1.10 distress. All four inputs derived from latest annual filing.

Analyst consensus

40 analysts · BUY

Target mean

₹1561.47

Target high

₹1906.00

Target low

₹1313.00

Upside vs today

+9.3%

Street consensus target is +9.3% vs current price. Consensus is a lagging sentiment read, not a forecast.

Company + balance sheet snapshot

Industry

Information Technology Services

Shares out

270.6

Revenue (TTM)

₹1,448 Cr

EBITDA

₹285 Cr

Total debt

₹79 Cr

Cash

₹349 Cr

Net debt

₹-270 Cr

Quarterly results

Last 6 quarters · ₹ Cr (Screener.in-grade depth)

Metric	2024-Q3	2024-Q4	2025-Q1	2025-Q2	2025-Q3	2025-Q4
Revenue	28,862	29,890	30,246	30,349	—	33,872
Operating profit	—	5,821	9,441	9,080	9,977	6,285
OPM %	—	19.5%	31.2%	29.9%	—	18.6%

Annual P&L

Last 4 years · ₹ Cr · all line items

Metric	2022-FY	2023-FY	2024-FY	2025-FY
Revenue	85,651	1,01,456	1,09,913	1,17,055
Operating profit	28,719	33,433	34,605	36,582
OPM %	33.5%	33.0%	31.5%	31.3%
Interest	319	353	553	644

Peer	Last close	1Y change	Mcap ₹Cr	P/E	P/B	ROE	D/E	Rev YoY
HCLTECHTHIS HCL Technologies Limited	₹1,442.3	-2.7%	3,86,448	23.5	5.11	23.2%	0.10	+7.4%
INFY Infosys Limited	₹1,318.7	-9.1%	5,31,162	18.3	6.16	32.7%	0.10	+3.2%
LTIM LTIMindtree Ltd	—	—	1,33,516	28.1	5.64	21.0%	0.10	+11.6%
PERSISTENT Persistent Systems Limited	₹5,446.5	+11.1%	85,452	49.5	10.99	25.0%	0.06	+21.6%
OFSS Oracle Financial Services Software Limited	₹7,992.5	-1.7%	69,476	28.5	10.05	33.5%	0.01	+7.4%
MPHASIS MphasiS Limited	₹2,462.2	+3.4%	46,408	25.8	4.56	18.7%	0.24	+7.2%
COFORGE Coforge Limited	₹1,316.8	-81.0%	43,694	38.9	6.33	16.3%	0.11	+31.3%
LTTS L&T Technology Services Limited	₹3,490.1	-20.1%	36,665	29.2	5.92	—	0.10	+10.6%
KPITTECH KPIT Technologies Limited	₹747.8	-35.9%	19,904	27.8	6.08	—	0.16	+19.9%

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Research tool · not investment advice.

Axel Markets is an information + analytics product. We are not a SEBI-registered Research Analyst (RA) or Investment Adviser (IA). Nothing on this page is a buy, sell, or hold recommendation. Past performance is not indicative of future returns. Verify all data against the authoritative source (NSE, BSE, AMFI, SEBI, company RHP / factsheet) before acting. Daily OHLCV sourced primarily from our NSE bhavcopy ingest (public sec_bhavdata_full CSV), with Stooq as a fallback for historical gaps. Split + bonus adjusted. Excludes dividends. Not a recommendation. Past performance does not predict future returns. For authoritative live quotes see NSE / BSE directly.

Quarter	EPS estimate	EPS actual	Surprise %
-1q	17.48	17.85	+2.1%
-2q	15.69	15.61	-0.5%
-3q	15.62	14.17	-9.3%
-4q	16.05	15.88	-1.1%

Date	Amount
2026-01-16	₹12.00
2025-10-17	₹12.00
2025-07-18	₹12.00
2025-04-28	₹18.00
2025-01-17	₹18.00
2024-10-22	₹12.00
2024-07-23	₹12.00
2024-05-07	₹18.00
2024-01-19	₹12.00
2023-10-20	₹12.00
2023-07-20	₹10.00
2023-04-28	₹18.00
2023-01-19	₹10.00
2022-10-19	₹10.00
2022-07-19	₹10.00
2022-04-28	₹18.00
2022-01-20	₹10.00
2021-10-21	₹10.00
2021-07-27	₹6.00
2021-04-29	₹16.00

Metric	2022-FY	2023-FY	2024-FY	2025-FY
Equity capital	543	543	543	543
Reserves	55,587	—	56,432	56,735
Borrowings	6,343	4,786	5,756	6,279
Other liabilities	33	41	57	66
Total liabilities	89,033	93,411	99,777	1,05,544
Fixed assets	8,079	7,760	7,916	7,590
CWIP	162	52	115	73
Investments	103	488	349	1,096
Other assets	-96	7	1,894	2,229
Total assets	89,033	93,411	99,777	1,05,544

Metric	2022-FY	2023-FY	2024-FY	2025-FY
CF Operating	16,900	18,009	22,448	22,261
CF Investing	1,477	-3,931	-6,723	-4,914
CF Financing	-14,508	-15,881	-15,464	-18,561
Net cash flow	3,989	-1,445	376	-1,196
Free cash flow	15,255	16,348	21,400	21,153

Metric	2025-FY	2024-FY	2023-FY	2022-FY
OPM %	31.3%	31.5%	33.0%	33.5%
Net margin %	14.9%	14.3%	14.6%	15.8%
ROE %	30.4%	27.6%	—	24.0%
ROCE %	37.9%	34.3%	—	27.6%
Debt / Equity	0.11	0.10	—	0.11
Dividend payout %	94%	90%	88%	84%
Interest coverage	37.1×	38.9×	56.2×	54.1×
Revenue growth YoY	+6.5%	+8.3%	+18.5%	—
Profit growth YoY	+10.8%	+5.7%	+10.0%	—

HCLTECHHCL Technologies Ltd

Price chart · 1M–10Y · daily-close

Stock scorecard

DVM composite · Durability · Valuation · Momentum

Valuation positioning

Monthly seasonality

Monthly return distribution

SWOT analysis

Fundamentals

Pros and cons

Sector-relative context

Quality score · Piotroski F-score

Forensic score · Altman Z″ (emerging markets)

Analyst consensus

Company + balance sheet snapshot

Quarterly results

Annual P&L

Peer comparison · Information Technology

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Recent news

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Technical snapshot

Earnings history + surprises

Dividends + splits history

Stock scorecard

Recent news

SWOT analysis

DVM composite · Durability · Valuation · Momentum

Valuation positioning

Monthly seasonality

Monthly return distribution

Fundamentals

Pros and cons

Sector-relative context

Quality score · Piotroski F-score

Forensic score · Altman Z″ (emerging markets)

Analyst consensus

Company + balance sheet snapshot

Quarterly results

Annual P&L

Balance sheet

Cash flow statement

Ratios

Peer comparison · Information Technology