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Last Updated: January 2, 2026, 7:28 pm
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 532281 | NSE: HCLTECH

HCL Technologies Ltd: Intrinsic Value & Share Price Analysis

Share Price and Basic Stock Data

Last Updated: January 2, 2026, 7:28 pm

Market Cap 4,44,864 Cr.
Current Price 1,640
High / Low 2,012/1,303
Stock P/E26.2
Book Value 263
Dividend Yield3.29 %
ROCE31.6 %
ROE25.0 %
Face Value 2.00
PEG Ratio5.58

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for HCL Technologies Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Visesh Infotecnics Ltd 125 Cr. 0.33 / 1.110.00 %2.21 %2.23 % 1.00
Mudunuru Ltd 59.2 Cr. 18.7 18.7/4.43 0.200.00 %27.0 %90.7 % 2.00
Naapbooks Ltd 149 Cr. 138 194/99.822.8 36.40.00 %23.6 %17.1 % 10.0
IB Infotech Enterprises Ltd 38.3 Cr. 299 310/14027.4 26.70.33 %38.5 %35.4 % 10.0
Hit Kit Global Solutions Ltd 5.71 Cr. 1.06 1.73/0.91 2.470.00 %2.14 %2.15 % 2.00
Industry Average20,273.00 Cr554.4588.33123.780.55%14.88%20.92%6.84

All Competitor Stocks of HCL Technologies Ltd

Quarterly Result

MetricSep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Sales 24,68626,70026,60626,29626,67228,44628,49928,05728,86229,89030,24630,34931,942
Expenses 19,26120,33520,74320,93120,74321,65922,38222,26422,49323,03023,76424,31425,397
Operating Profit 5,4256,3655,8635,3655,9296,7876,1175,7936,3696,8606,4826,0356,545
OPM % 22%24%22%20%22%24%21%21%22%23%21%20%20%
Other Income 2362604533443653704161,103456477449456415
Interest 791169486156140171191131166156209215
Depreciation 9981,1371,0279271,0101,1431,0939981,0071,0391,0401,0931,043
Profit before tax 4,5845,3725,1954,6965,1285,8745,2695,7075,6876,1325,7355,1895,702
Tax % 24%24%23%25%25%26%24%25%26%25%25%26%26%
Net Profit 3,4874,0963,9813,5313,8334,3513,9954,2594,2374,5944,3093,8444,236
EPS in Rs 12.8615.0914.6813.0214.1216.0314.6915.6915.6116.9215.8714.1615.61

Last Updated: January 1, 2026, 12:16 pm

Below is a detailed analysis of the quarterly data for HCL Technologies Ltd based on the most recent figures (Sep 2025) and their trends compared to the previous period:

  • For Sales, as of Sep 2025, the value is 31,942.00 Cr.. The value appears strong and on an upward trend. It has increased from 30,349.00 Cr. (Jun 2025) to 31,942.00 Cr., marking an increase of 1,593.00 Cr..
  • For Expenses, as of Sep 2025, the value is 25,397.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 24,314.00 Cr. (Jun 2025) to 25,397.00 Cr., marking an increase of 1,083.00 Cr..
  • For Operating Profit, as of Sep 2025, the value is 6,545.00 Cr.. The value appears strong and on an upward trend. It has increased from 6,035.00 Cr. (Jun 2025) to 6,545.00 Cr., marking an increase of 510.00 Cr..
  • For OPM %, as of Sep 2025, the value is 20.00%. The value remains steady. There is no change compared to the previous period (Jun 2025) which recorded 20.00%.
  • For Other Income, as of Sep 2025, the value is 415.00 Cr.. The value appears to be declining and may need further review. It has decreased from 456.00 Cr. (Jun 2025) to 415.00 Cr., marking a decrease of 41.00 Cr..
  • For Interest, as of Sep 2025, the value is 215.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 209.00 Cr. (Jun 2025) to 215.00 Cr., marking an increase of 6.00 Cr..
  • For Depreciation, as of Sep 2025, the value is 1,043.00 Cr.. The value appears to be improving (decreasing) as expected. It has decreased from 1,093.00 Cr. (Jun 2025) to 1,043.00 Cr., marking a decrease of 50.00 Cr..
  • For Profit before tax, as of Sep 2025, the value is 5,702.00 Cr.. The value appears strong and on an upward trend. It has increased from 5,189.00 Cr. (Jun 2025) to 5,702.00 Cr., marking an increase of 513.00 Cr..
  • For Tax %, as of Sep 2025, the value is 26.00%. The value remains steady. There is no change compared to the previous period (Jun 2025) which recorded 26.00%.
  • For Net Profit, as of Sep 2025, the value is 4,236.00 Cr.. The value appears strong and on an upward trend. It has increased from 3,844.00 Cr. (Jun 2025) to 4,236.00 Cr., marking an increase of 392.00 Cr..
  • For EPS in Rs, as of Sep 2025, the value is 15.61. The value appears strong and on an upward trend. It has increased from 14.16 (Jun 2025) to 15.61, marking an increase of 1.45.

Overall, while many items appear to show a positive trend, any significant downward movement warrant further investigation.

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: October 15, 2025, 5:13 am

MetricJun 2014Jun 2015Mar 2016n n 9mMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 32,14436,70131,13647,56850,56960,42770,67675,37985,651101,456109,913117,055122,427
Expenses 24,10828,21524,48237,17839,32346,50153,36055,33165,12278,82885,71591,55196,505
Operating Profit 8,0358,4866,65410,39011,24613,92617,31620,04820,52922,62824,19825,50425,922
OPM % 25%23%21%22%22%23%24%27%24%22%22%22%21%
Other Income 6771,1268711,0691,2309435899271,0671,3581,4952,4851,797
Interest 11491748969174505511319353553644746
Depreciation 6814044108281,3832,0733,4204,6114,3264,1454,1734,0844,215
Profit before tax 7,9179,1177,04110,54211,02412,62213,98015,85316,95119,48820,96723,26122,758
Tax % 18%20%20%18%21%20%21%30%20%24%25%25%
Net Profit 6,5287,3425,6028,6068,72210,12011,05711,16913,52314,84515,71017,39916,983
EPS in Rs 23.2526.0219.8630.1631.3237.3140.7541.0749.7454.7357.8664.0862.56
Dividend Payout % 11%58%40%40%19%11%25%24%84%88%90%94%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)1.35%16.03%9.26%1.01%21.08%9.78%5.83%10.75%
Change in YoY Net Profit Growth (%)0.00%14.68%-6.77%-8.25%20.06%-11.30%-3.95%4.92%

HCL Technologies Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 8 years from 2017-2018 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:14%
5 Years:11%
3 Years:11%
TTM:7%
Compounded Profit Growth
10 Years:10%
5 Years:9%
3 Years:9%
TTM:3%
Stock Price CAGR
10 Years:12%
5 Years:16%
3 Years:15%
1 Year:-19%
Return on Equity
10 Years:24%
5 Years:23%
3 Years:24%
Last Year:25%

Last Updated: September 5, 2025, 5:50 am

Balance Sheet

Last Updated: December 4, 2025, 1:21 am

MonthJun 2014Jun 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 140281282285278271543543543543543543543
Reserves 19,41023,94327,10932,66436,10841,09550,72459,37061,37164,86267,72069,11270,706
Borrowings 1,0186481,0905825574,1957,9866,8646,3434,7945,7586,2766,780
Other Liabilities 9,41210,37210,85912,23111,04612,78823,56619,27020,66423,05124,98528,54930,544
Total Liabilities 29,98035,24539,34145,76247,98958,34982,81986,04788,92193,25099,006104,480108,573
Fixed Assets 7,4448,2759,71615,23518,75322,88837,49037,14535,07734,61935,06336,17236,628
CWIP 5315526114483202354003121294010859106
Investments 6628696981,3062,6602,3057,0666,8626,3515,4957,1377,5646,265
Other Assets 21,34325,54828,31528,77326,25632,92137,86341,72847,36453,09656,69860,68565,574
Total Assets 29,98035,24539,34145,76247,98958,34982,81986,04788,92193,25099,006104,480108,573

Below is a detailed analysis of the balance sheet data for HCL Technologies Ltd based on the most recent figures (Sep 2025) and their trends compared to the previous period:

  • For Equity Capital, as of Sep 2025, the value is 543.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2025) which recorded 543.00 Cr..
  • For Reserves, as of Sep 2025, the value is 70,706.00 Cr.. The value appears strong and on an upward trend. It has increased from 69,112.00 Cr. (Mar 2025) to 70,706.00 Cr., marking an increase of 1,594.00 Cr..
  • For Borrowings, as of Sep 2025, the value is 6,780.00 Cr.. The value appears to be increasing, which may not be favorable. Additionally, since Reserves exceed Borrowings, this is considered a positive sign. It has increased from 6,276.00 Cr. (Mar 2025) to 6,780.00 Cr., marking an increase of 504.00 Cr..
  • For Other Liabilities, as of Sep 2025, the value is 30,544.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 28,549.00 Cr. (Mar 2025) to 30,544.00 Cr., marking an increase of 1,995.00 Cr..
  • For Total Liabilities, as of Sep 2025, the value is 108,573.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 104,480.00 Cr. (Mar 2025) to 108,573.00 Cr., marking an increase of 4,093.00 Cr..
  • For Fixed Assets, as of Sep 2025, the value is 36,628.00 Cr.. The value appears strong and on an upward trend. It has increased from 36,172.00 Cr. (Mar 2025) to 36,628.00 Cr., marking an increase of 456.00 Cr..
  • For CWIP, as of Sep 2025, the value is 106.00 Cr.. The value appears strong and on an upward trend. It has increased from 59.00 Cr. (Mar 2025) to 106.00 Cr., marking an increase of 47.00 Cr..
  • For Investments, as of Sep 2025, the value is 6,265.00 Cr.. The value appears to be declining and may need further review. It has decreased from 7,564.00 Cr. (Mar 2025) to 6,265.00 Cr., marking a decrease of 1,299.00 Cr..
  • For Other Assets, as of Sep 2025, the value is 65,574.00 Cr.. The value appears strong and on an upward trend. It has increased from 60,685.00 Cr. (Mar 2025) to 65,574.00 Cr., marking an increase of 4,889.00 Cr..
  • For Total Assets, as of Sep 2025, the value is 108,573.00 Cr.. The value appears strong and on an upward trend. It has increased from 104,480.00 Cr. (Mar 2025) to 108,573.00 Cr., marking an increase of 4,093.00 Cr..

Notably, the Reserves (70,706.00 Cr.) exceed the Borrowings (6,780.00 Cr.), indicating a solid financial buffer.

Overall, while many items appear to show a positive trend, any significant downward movement or items where Borrowings exceed Reserves warrant further investigation.

Reserves and Borrowings Chart

Cash Flow

MonthJun 2014Jun 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity +6,4575,5393,8238,9958,3288,97113,35919,61816,90018,00922,44822,261
Cash from Investing Activity +-4,842-2,088-2,208-3,890-2,236-3,256-12,332-5,6651,597-3,573-6,608-4,896
Cash from Financing Activity +-1,308-3,140-2,237-4,517-5,714-1,471-3,168-11,192-14,508-15,881-15,464-18,561
Net Cash Flow307311-6235883784,244-2,1412,7613,989-1,445376-1,196

Free Cash Flow

MonthJun 2014Jun 2015Mar 2016n n 9mMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow7.00-640.006.00-572.00-546.009.0010.0014.0014.0018.0019.0019.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthJun 2014Jun 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days656591647071738588928581
Inventory Days
Days Payable
Cash Conversion Cycle656591647071738588928581
Working Capital Days82562385844144844433117
ROCE %45%40%28%34%31%31%27%26%25%28%30%32%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Promoters60.72%60.82%60.82%60.82%60.82%60.82%60.82%60.82%60.82%60.82%60.82%60.82%
FIIs18.29%18.92%18.98%18.80%19.42%19.65%18.45%18.67%19.38%19.15%18.56%16.64%
DIIs15.85%15.28%15.33%15.62%15.12%14.95%15.77%15.78%15.21%15.44%16.17%17.80%
Government0.02%0.02%0.02%0.02%0.02%0.02%0.02%0.02%0.04%0.04%0.04%0.04%
Public4.89%4.74%4.63%4.54%4.40%4.35%4.65%4.53%4.42%4.37%4.24%4.41%
Others0.23%0.23%0.23%0.21%0.21%0.21%0.28%0.18%0.13%0.18%0.16%0.30%
No. of Shareholders9,91,5489,40,0799,09,3598,79,1208,52,9028,55,9609,50,1478,75,1648,68,7358,80,7228,85,8359,29,235

Shareholding Pattern Chart

No. of Shareholders

HCL Technologies Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Parag Parikh Flexi Cap Fund 19,831,378 2.48 3221.0118,138,9452025-12-14 03:50:109.33%
HDFC Flexi Cap Fund 18,000,000 3.11 2923.56N/AN/AN/A
HDFC Balanced Advantage Fund 10,072,008 1.52 1635.9N/AN/AN/A
HDFC Focused Fund 7,450,000 4.61 1210.037,258,8922025-12-14 03:50:102.63%
ICICI Prudential Balanced Advantage Fund 5,820,957 1.35 945.445,389,7752025-12-14 03:50:108%
Tata Digital India Fund 4,983,886 6.7 809.484,983,8862025-04-22 17:25:330%
ICICI Prudential Technology Fund 4,738,750 4.94 769.674,981,2902025-12-14 00:22:06-4.87%
SBI Balanced Advantage Fund 4,320,701 1.78 701.77N/AN/AN/A
Aditya Birla Sun Life Flexi Cap Fund 4,103,703 2.69 666.525,791,2562025-12-08 01:35:30-29.14%
Kotak Flexicap Fund 3,900,000 1.11 633.44N/AN/AN/A

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 2.002.002.002.002.00
Basic EPS (Rs.) 64.1657.9954.8549.7741.07
Diluted EPS (Rs.) 64.0957.8654.7949.7741.07
Cash EPS (Rs.) 79.1373.2369.9465.7558.12
Book Value[Excl.RevalReserv]/Share (Rs.) 256.56251.46240.88228.38221.30
Book Value[Incl.RevalReserv]/Share (Rs.) 256.56251.46240.88228.38221.30
Revenue From Operations / Share (Rs.) 431.14404.84373.69315.47277.64
PBDIT / Share (Rs.) 103.0994.6388.3579.5577.26
PBIT / Share (Rs.) 88.0579.2673.0863.6160.27
PBT / Share (Rs.) 85.6877.2371.7862.4458.39
Net Profit / Share (Rs.) 64.0857.8654.6849.8141.14
NP After MI And SOA / Share (Rs.) 64.0557.8354.7049.7241.05
PBDIT Margin (%) 23.9123.3723.6425.2127.82
PBIT Margin (%) 20.4219.5719.5520.1621.70
PBT Margin (%) 19.8719.0719.2019.7921.03
Net Profit Margin (%) 14.8614.2914.6315.7814.81
NP After MI And SOA Margin (%) 14.8514.2814.6315.7614.78
Return on Networth / Equity (%) 24.9623.0022.7021.8018.60
Return on Capital Employeed (%) 30.8427.9227.5624.5823.78
Return On Assets (%) 16.4715.7315.8915.1612.93
Long Term Debt / Equity (X) 0.000.030.030.060.06
Total Debt / Equity (X) 0.030.030.030.060.06
Asset Turnover Ratio (%) 1.141.140.640.580.51
Current Ratio (X) 2.212.612.502.562.48
Quick Ratio (X) 2.212.602.492.552.47
Inventory Turnover Ratio (X) 736.190.000.000.000.00
Dividend Payout Ratio (NP) (%) 93.4689.6787.5084.3829.22
Dividend Payout Ratio (CP) (%) 75.6970.8468.4063.9020.67
Earning Retention Ratio (%) 6.5410.3312.5015.6270.78
Cash Earning Retention Ratio (%) 24.3129.1631.6036.1079.33
Interest Coverage Ratio (X) 43.4646.4667.9567.7041.05
Interest Coverage Ratio (Post Tax) (X) 28.0229.4143.0543.3922.86
Enterprise Value (Cr.) 412962.93401190.95282423.30307290.53262115.68
EV / Net Operating Revenue (X) 3.533.652.783.593.48
EV / EBITDA (X) 14.7515.6111.7714.2312.50
MarketCap / Net Operating Revenue (X) 3.693.812.913.693.54
Retention Ratios (%) 6.5310.3212.4915.6170.77
Price / BV (X) 6.206.144.515.104.46
Price / Net Operating Revenue (X) 3.693.812.913.693.54
EarningsYield 0.040.030.050.040.04

After reviewing the key financial ratios for HCL Technologies Ltd, here is a detailed analysis based on the latest available data and recent trends:

  • For FaceValue, as of Mar 25, the value is 2.00. This value is within the healthy range. There is no change compared to the previous period (Mar 24) which recorded 2.00.
  • For Basic EPS (Rs.), as of Mar 25, the value is 64.16. This value is within the healthy range. It has increased from 57.99 (Mar 24) to 64.16, marking an increase of 6.17.
  • For Diluted EPS (Rs.), as of Mar 25, the value is 64.09. This value is within the healthy range. It has increased from 57.86 (Mar 24) to 64.09, marking an increase of 6.23.
  • For Cash EPS (Rs.), as of Mar 25, the value is 79.13. This value is within the healthy range. It has increased from 73.23 (Mar 24) to 79.13, marking an increase of 5.90.
  • For Book Value[Excl.RevalReserv]/Share (Rs.), as of Mar 25, the value is 256.56. It has increased from 251.46 (Mar 24) to 256.56, marking an increase of 5.10.
  • For Book Value[Incl.RevalReserv]/Share (Rs.), as of Mar 25, the value is 256.56. It has increased from 251.46 (Mar 24) to 256.56, marking an increase of 5.10.
  • For Revenue From Operations / Share (Rs.), as of Mar 25, the value is 431.14. It has increased from 404.84 (Mar 24) to 431.14, marking an increase of 26.30.
  • For PBDIT / Share (Rs.), as of Mar 25, the value is 103.09. This value is within the healthy range. It has increased from 94.63 (Mar 24) to 103.09, marking an increase of 8.46.
  • For PBIT / Share (Rs.), as of Mar 25, the value is 88.05. This value is within the healthy range. It has increased from 79.26 (Mar 24) to 88.05, marking an increase of 8.79.
  • For PBT / Share (Rs.), as of Mar 25, the value is 85.68. This value is within the healthy range. It has increased from 77.23 (Mar 24) to 85.68, marking an increase of 8.45.
  • For Net Profit / Share (Rs.), as of Mar 25, the value is 64.08. This value is within the healthy range. It has increased from 57.86 (Mar 24) to 64.08, marking an increase of 6.22.
  • For NP After MI And SOA / Share (Rs.), as of Mar 25, the value is 64.05. This value is within the healthy range. It has increased from 57.83 (Mar 24) to 64.05, marking an increase of 6.22.
  • For PBDIT Margin (%), as of Mar 25, the value is 23.91. This value is within the healthy range. It has increased from 23.37 (Mar 24) to 23.91, marking an increase of 0.54.
  • For PBIT Margin (%), as of Mar 25, the value is 20.42. This value exceeds the healthy maximum of 20. It has increased from 19.57 (Mar 24) to 20.42, marking an increase of 0.85.
  • For PBT Margin (%), as of Mar 25, the value is 19.87. This value is within the healthy range. It has increased from 19.07 (Mar 24) to 19.87, marking an increase of 0.80.
  • For Net Profit Margin (%), as of Mar 25, the value is 14.86. This value exceeds the healthy maximum of 10. It has increased from 14.29 (Mar 24) to 14.86, marking an increase of 0.57.
  • For NP After MI And SOA Margin (%), as of Mar 25, the value is 14.85. This value is within the healthy range. It has increased from 14.28 (Mar 24) to 14.85, marking an increase of 0.57.
  • For Return on Networth / Equity (%), as of Mar 25, the value is 24.96. This value is within the healthy range. It has increased from 23.00 (Mar 24) to 24.96, marking an increase of 1.96.
  • For Return on Capital Employeed (%), as of Mar 25, the value is 30.84. This value is within the healthy range. It has increased from 27.92 (Mar 24) to 30.84, marking an increase of 2.92.
  • For Return On Assets (%), as of Mar 25, the value is 16.47. This value is within the healthy range. It has increased from 15.73 (Mar 24) to 16.47, marking an increase of 0.74.
  • For Long Term Debt / Equity (X), as of Mar 25, the value is 0.00. This value is below the healthy minimum of 0.2. It has decreased from 0.03 (Mar 24) to 0.00, marking a decrease of 0.03.
  • For Total Debt / Equity (X), as of Mar 25, the value is 0.03. This value is within the healthy range. There is no change compared to the previous period (Mar 24) which recorded 0.03.
  • For Asset Turnover Ratio (%), as of Mar 25, the value is 1.14. There is no change compared to the previous period (Mar 24) which recorded 1.14.
  • For Current Ratio (X), as of Mar 25, the value is 2.21. This value is within the healthy range. It has decreased from 2.61 (Mar 24) to 2.21, marking a decrease of 0.40.
  • For Quick Ratio (X), as of Mar 25, the value is 2.21. This value exceeds the healthy maximum of 2. It has decreased from 2.60 (Mar 24) to 2.21, marking a decrease of 0.39.
  • For Inventory Turnover Ratio (X), as of Mar 25, the value is 736.19. This value exceeds the healthy maximum of 8. It has increased from 0.00 (Mar 24) to 736.19, marking an increase of 736.19.
  • For Dividend Payout Ratio (NP) (%), as of Mar 25, the value is 93.46. This value exceeds the healthy maximum of 50. It has increased from 89.67 (Mar 24) to 93.46, marking an increase of 3.79.
  • For Dividend Payout Ratio (CP) (%), as of Mar 25, the value is 75.69. This value exceeds the healthy maximum of 50. It has increased from 70.84 (Mar 24) to 75.69, marking an increase of 4.85.
  • For Earning Retention Ratio (%), as of Mar 25, the value is 6.54. This value is below the healthy minimum of 40. It has decreased from 10.33 (Mar 24) to 6.54, marking a decrease of 3.79.
  • For Cash Earning Retention Ratio (%), as of Mar 25, the value is 24.31. This value is below the healthy minimum of 40. It has decreased from 29.16 (Mar 24) to 24.31, marking a decrease of 4.85.
  • For Interest Coverage Ratio (X), as of Mar 25, the value is 43.46. This value is within the healthy range. It has decreased from 46.46 (Mar 24) to 43.46, marking a decrease of 3.00.
  • For Interest Coverage Ratio (Post Tax) (X), as of Mar 25, the value is 28.02. This value is within the healthy range. It has decreased from 29.41 (Mar 24) to 28.02, marking a decrease of 1.39.
  • For Enterprise Value (Cr.), as of Mar 25, the value is 412,962.93. It has increased from 401,190.95 (Mar 24) to 412,962.93, marking an increase of 11,771.98.
  • For EV / Net Operating Revenue (X), as of Mar 25, the value is 3.53. This value exceeds the healthy maximum of 3. It has decreased from 3.65 (Mar 24) to 3.53, marking a decrease of 0.12.
  • For EV / EBITDA (X), as of Mar 25, the value is 14.75. This value is within the healthy range. It has decreased from 15.61 (Mar 24) to 14.75, marking a decrease of 0.86.
  • For MarketCap / Net Operating Revenue (X), as of Mar 25, the value is 3.69. This value exceeds the healthy maximum of 3. It has decreased from 3.81 (Mar 24) to 3.69, marking a decrease of 0.12.
  • For Retention Ratios (%), as of Mar 25, the value is 6.53. This value is below the healthy minimum of 30. It has decreased from 10.32 (Mar 24) to 6.53, marking a decrease of 3.79.
  • For Price / BV (X), as of Mar 25, the value is 6.20. This value exceeds the healthy maximum of 3. It has increased from 6.14 (Mar 24) to 6.20, marking an increase of 0.06.
  • For Price / Net Operating Revenue (X), as of Mar 25, the value is 3.69. This value exceeds the healthy maximum of 3. It has decreased from 3.81 (Mar 24) to 3.69, marking a decrease of 0.12.
  • For EarningsYield, as of Mar 25, the value is 0.04. This value is below the healthy minimum of 5. It has increased from 0.03 (Mar 24) to 0.04, marking an increase of 0.01.

Overall, while many metrics show healthy performance, any figures highlighted in red or significant downward trends warrant further investigation.

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of HCL Technologies Ltd as of January 3, 2026 is: ₹1,423.46

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of January 3, 2026, HCL Technologies Ltd is Overvalued by 13.20% compared to the current share price ₹1,640.00

Intrinsic Value of HCL Technologies Ltd as of January 3, 2026 is: ₹1,490.26

Calculation basis:

  • Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of January 3, 2026, HCL Technologies Ltd is Overvalued by 9.13% compared to the current share price ₹1,640.00

Last 5 Year EPS CAGR: 4.69%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a high average ROCE of 31.42%, which is a positive sign.
  2. The company has higher reserves (48,014.92 cr) compared to borrowings (4,068.54 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (71.92 cr) and profit (14.15 cr) over the years.
  1. The stock has a high average Working Capital Days of 36.00, which may not be favorable.
  2. The stock has a high average Cash Conversion Cycle of 77.50, which may not be favorable.

Stock Analysis

  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in HCL Technologies Ltd:
    1. Net Profit Margin: 14.86%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 30.84% (Industry Average ROCE: 14.88%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ROE%: 24.96% (Industry Average ROE: 20.92%)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 28.02
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 2.21
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. Stock P/E: 26.2 (Industry average Stock P/E: 88.33)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. Total Debt / Equity: 0.03
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating:

About the Company - Qualitative Analysis

HCL Technologies Ltd. is a Public Limited Listed company incorporated on 12/11/1991 and has its registered office in the State of Delhi, India. Company's Corporate Identification Number(CIN) is L74140DL1991PLC046369 and registration number is 046369. Currently Company is involved in the business activities of Computer programming, consultancy and related activities. Company's Total Operating Revenue is Rs. 51105.00 Cr. and Equity Capital is Rs. 543.00 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
IT Consulting & Software806, Siddharth, New Delhi Delhi 110019Contact not found
Management
NamePosition Held
Mr. Shiv NadarChairman Emeritus
Ms. Roshni Nadar MalhotraNon Exe. Non Ind Chairperson
Mr. C VijayakumarManaging Director & CEO
Mr. Shikhar MalhotraNon Exe.Non Ind.Director
Mr. Thomas SieberInd. Non-Executive Director
Ms. Nishi VasudevaInd. Non-Executive Director
Mr. Deepak KapoorInd. Non-Executive Director
Mr. Simon John EnglandInd. Non-Executive Director
Ms. Vanitha NarayananInd. Non-Executive Director
Ms. Lee Fang ChewInd. Non-Executive Director
Ms. Bhavani BalasubramanianInd. Non-Executive Director

FAQ

What is the intrinsic value of HCL Technologies Ltd?

HCL Technologies Ltd's intrinsic value (as of 03 January 2026) is ₹1423.46 which is 13.20% lower the current market price of ₹1,640.00, indicating overvalued. Calculated using the PE ratio method, this valuation considers the company's ₹4,44,864 Cr. market cap, FY2025-2026 high/low of ₹2,012/1,303, reserves of ₹70,706 Cr, and liabilities of ₹108,573 Cr.

What is the Market Cap of HCL Technologies Ltd?

The Market Cap of HCL Technologies Ltd is 4,44,864 Cr..

What is the current Stock Price of HCL Technologies Ltd as on 03 January 2026?

The current stock price of HCL Technologies Ltd as on 03 January 2026 is ₹1,640.

What is the High / Low of HCL Technologies Ltd stocks in FY 2025-2026?

In FY 2025-2026, the High / Low of HCL Technologies Ltd stocks is ₹2,012/1,303.

What is the Stock P/E of HCL Technologies Ltd?

The Stock P/E of HCL Technologies Ltd is 26.2.

What is the Book Value of HCL Technologies Ltd?

The Book Value of HCL Technologies Ltd is 263.

What is the Dividend Yield of HCL Technologies Ltd?

The Dividend Yield of HCL Technologies Ltd is 3.29 %.

What is the ROCE of HCL Technologies Ltd?

The ROCE of HCL Technologies Ltd is 31.6 %.

What is the ROE of HCL Technologies Ltd?

The ROE of HCL Technologies Ltd is 25.0 %.

What is the Face Value of HCL Technologies Ltd?

The Face Value of HCL Technologies Ltd is 2.00.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in HCL Technologies Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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