HCL Technologies Ltd: Intrinsic Value & Share Price Analysis

Q: What is the current share price and 52-week range of HCL Technologies Ltd?

HCL Technologies Ltd is trading at 1,203.00 as of 27 April 2026, with a FY2026-2027 high of 1,780 and low of 1,198. The stock is currently near its 52-week low. Market cap stands at 3,26,508 Cr..

Q: Is HCL Technologies Ltd financially healthy?

Key indicators: ROCE of 30.6 % indicates efficient capital utilization. Dividend yield is 4.49 %.

Q: Is HCL Technologies Ltd profitable and how is the profit trend?

HCL Technologies Ltd reported a net profit of 17,399 Cr in Mar 2025 on revenue of 117,055 Cr. Compared to 13,523 Cr in Mar 2022, the net profit shows an improving trend.

Fair Value

₹1,044.75Overvalued by 13.15%vs CMP ₹1,203.00

P/E (18.8) × ROE (24.0%) × BV (₹277.00) × DY (4.49%)

₹733.50Overvalued by 39.03%vs CMP ₹1,203.00

MoS: -64% (Negative)Confidence: 63/100 (Moderate)Models: 1 Fair, 8 Over

Model	Category	Value	Weight	Signal
PE-ROE	Earnings	₹1,087.06	22%	Fair (-9.6%)
Graham Number	Earnings	₹614.87	16%	Over (-48.9%)
Earnings Power	Earnings	₹467.36	13%	Over (-61.2%)
DCF	Cash Flow	₹771.33	13%	Over (-35.9%)
Net Asset Value	Assets	₹276.94	7%	Over (-77%)
EV/EBITDA	Enterprise	₹1,070.94	9%	Over (-11%)
Earnings Yield	Earnings	₹606.60	7%	Over (-49.6%)
ROCE Capital	Returns	₹586.88	9%	Over (-51.2%)
Revenue Multiple	Revenue	₹646.92	5%	Over (-46.2%)
Consensus (9 models)		₹733.50	100%	Overvalued

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 4.0%

*Investments are subject to market risks

Analyst Summary

HCL Technologies Ltd operates in the IT Consulting & Software segment, NSE: HCLTECH | BSE: 532281, current market price is ₹1,203.00, market cap is 3,26,508 Cr.. At a glance, stock P/E is 18.8, ROE is 24.0 %, ROCE is 30.6 %, book value is 277, dividend yield is 4.49 %. The latest intrinsic value estimate is ₹733.50, around 39.0% below the current price, so expectations may already be running ahead of this modelled fair value. On operating trend, latest reported sales are about ₹117,055 Cr versus the prior period change of 6.5%, while latest net profit is about ₹17,399 Cr with a prior-period change of 10.8%. The 52-week range shown on this page is 1,780/1,198, which helps frame where the current quote sits within its recent trading band. Business context: About the Company - Qualitative AnalysisHCL 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 L74140…

This summary is generated from the stock page data available for HCL Technologies Ltd: Intrinsic Value & Share Price Analysis and is refreshed automatically when the underlying metrics change.

Investment Snapshot

HCL Technologies Ltd scores 69/100 (Average)

Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison

Stock Health92/100 · Strong

ROCE 30.6% ExcellentROE 24.0% ExcellentD/E 0.06 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent

Smart Money45/100 · Moderate

FII holding down -2.94% (6mo) SellingDII holding up 2.93% MF buyingPromoter holding at 60.8% Stable

Earnings Quality60/100 · Moderate

OPM stable around 22% SteadyWorking capital: 17 days (improving) Efficient

Quarterly Momentum50/100 · Moderate

Revenue (4Q): +10% YoY GrowingProfit (4Q): -4% YoY Declining

Industry Rank80/100 · Strong

P/E 18.8 vs industry 107.3 Cheaper than peersROCE 30.6% vs industry 14.9% Above peers3Y sales CAGR: 11% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 25, 2026, 10:46 pm

Market Cap	3,26,508 Cr.
Current Price	1,203
Intrinsic Value	₹733.50
High / Low	1,780/1,198
Stock P/E	18.8
Book Value	277
Dividend Yield	4.49 %
ROCE	30.6 %
ROE	24.0 %
Face Value	2.00
PEG Ratio	4.64

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

Stock P/E Current Price Intrinsic Value

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 ⇩
HCL Technologies Ltd	3,26,508 Cr.	1,203	1,780/1,198	18.8	277	4.49 %	30.6 %	24.0 %	2.00
Wipro Ltd	2,09,099 Cr.	199	273/186	15.8	83.9	5.52 %	17.9 %	15.5 %	2.00
LTIMindtree Ltd	1,35,243 Cr.	4,559	6,430/3,802	26.1	789	1.43 %	27.6 %	21.5 %	1.00
Tech Mahindra Ltd	1,33,111 Cr.	1,358	1,854/1,304	26.6	302	3.31 %	23.1 %	17.6 %	5.00
Oracle Financial Services Software Ltd	77,888 Cr.	8,949	9,950/6,232	29.5	899	2.96 %	45.3 %	32.6 %	5.00
Industry Average	16,313.87 Cr	460.09		107.32	123.36	0.71%	14.92%	20.98%	6.77

All Competitor Stocks of HCL Technologies Ltd

Quarterly Result

Metric	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	26,700	26,606	26,296	26,672	28,446	28,499	28,057	28,862	29,890	30,246	30,349	31,942	33,872
Expenses	20,335	20,743	20,931	20,743	21,659	22,382	22,264	22,493	23,030	23,764	24,314	25,397	26,460
Operating Profit	6,365	5,863	5,365	5,929	6,787	6,117	5,793	6,369	6,860	6,482	6,035	6,545	7,412
OPM %	24%	22%	20%	22%	24%	21%	21%	22%	23%	21%	20%	20%	22%
Other Income	260	453	344	365	370	416	1,103	456	477	449	456	415	-571
Interest	116	94	86	156	140	171	191	131	166	156	209	215	205
Depreciation	1,137	1,027	927	1,010	1,143	1,093	998	1,007	1,039	1,040	1,093	1,043	1,127
Profit before tax	5,372	5,195	4,696	5,128	5,874	5,269	5,707	5,687	6,132	5,735	5,189	5,702	5,509
Tax %	24%	23%	25%	25%	26%	24%	25%	26%	25%	25%	26%	26%	26%
Net Profit	4,096	3,981	3,531	3,833	4,351	3,995	4,259	4,237	4,594	4,309	3,844	4,236	4,082
EPS in Rs	15.09	14.68	13.02	14.12	16.03	14.69	15.69	15.61	16.92	15.87	14.16	15.61	15.02

Last Updated: February 5, 2026, 5:39 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 24, 2026, 8:46 am

Metric	Jun 2014	Jun 2015	Mar 2016n n 9m	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	32,144	36,701	31,136	47,568	50,569	60,427	70,676	75,379	85,651	101,456	109,913	117,055	126,409
Expenses	24,108	28,215	24,482	37,178	39,323	46,501	53,360	55,331	65,122	78,828	85,715	91,551	99,935
Operating Profit	8,035	8,486	6,654	10,390	11,246	13,926	17,316	20,048	20,529	22,628	24,198	25,504	26,474
OPM %	25%	23%	21%	22%	22%	23%	24%	27%	24%	22%	22%	22%	21%
Other Income	677	1,126	871	1,069	1,230	943	589	927	1,067	1,358	1,495	2,485	749
Interest	114	91	74	89	69	174	505	511	319	353	553	644	785
Depreciation	681	404	410	828	1,383	2,073	3,420	4,611	4,326	4,145	4,173	4,084	4,303
Profit before tax	7,917	9,117	7,041	10,542	11,024	12,622	13,980	15,853	16,951	19,488	20,967	23,261	22,135
Tax %	18%	20%	20%	18%	21%	20%	21%	30%	20%	24%	25%	25%
Net Profit	6,528	7,342	5,602	8,606	8,722	10,120	11,057	11,169	13,523	14,845	15,710	17,399	16,471
EPS in Rs	23.25	26.02	19.86	30.16	31.32	37.31	40.75	41.07	49.74	54.73	57.86	64.08	60.66
Dividend Payout %	11%	58%	40%	40%	19%	11%	25%	24%	84%	88%	90%	94%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024	2024-2025
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: April 27, 2026, 2:00 am

Month	Jun 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	281	282	285	278	271	543	543	543	543	543	543	543
Reserves	23,943	27,109	32,664	36,108	41,095	50,724	59,370	61,371	64,862	67,720	69,112	74,622
Borrowings	648	1,090	582	557	4,195	7,986	6,864	6,343	4,794	5,758	6,276	5,215
Other Liabilities	10,372	10,859	12,231	11,046	12,788	23,566	19,270	20,664	23,051	24,985	28,549	35,878
Total Liabilities	35,245	39,341	45,762	47,989	58,349	82,819	86,047	88,921	93,250	99,006	104,480	116,258
Fixed Assets	8,275	9,716	15,235	18,753	22,888	37,490	37,145	35,077	34,619	35,063	36,172	37,379
CWIP	552	611	448	320	235	400	312	129	40	108	59	60
Investments	869	698	1,306	2,660	2,305	7,066	6,862	6,351	5,495	7,137	7,564	7,090
Other Assets	25,548	28,315	28,773	26,256	32,921	37,863	41,728	47,364	53,096	56,698	60,685	71,729
Total Assets	35,245	39,341	45,762	47,989	58,349	82,819	86,047	88,921	93,250	99,006	104,480	116,258

Reserves and Borrowings Chart

Cash Flow

Month	Jun 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operating Activity +	5,539	3,823	8,995	8,328	8,971	13,359	19,618	16,900	18,009	22,448	22,261	19,975
Cash from Investing Activity +	-2,088	-2,208	-3,890	-2,236	-3,256	-12,332	-5,665	1,597	-3,573	-6,608	-4,896	-1,473
Cash from Financing Activity +	-3,140	-2,237	-4,517	-5,714	-1,471	-3,168	-11,192	-14,508	-15,881	-15,464	-18,561	-19,369
Net Cash Flow	311	-623	588	378	4,244	-2,141	2,761	3,989	-1,445	376	-1,196	-867
Free Cash Flow	4,338	3,074	5,184	3,007	5,537	11,530	17,865	15,345	16,565	21,432	21,178	18,576
CFO/OP	86%	79%	106%	95%	83%	92%	115%	99%	96%	110%	104%	90%

Free Cash Flow

Month	Jun 2014	Jun 2015	Mar 2016n n 9m	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Free Cash Flow	8.00	-640.00	6.00	-572.00	-546.00	9.00	10.00	14.00	14.00	18.00	19.00	19.00

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

Month	Jun 2014	Jun 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	65	65	91	64	70	71	73	85	88	92	85	81
Inventory Days
Days Payable
Cash Conversion Cycle	65	65	91	64	70	71	73	85	88	92	85	81
Working Capital Days	8	25	62	38	58	44	14	48	44	43	31	17
ROCE %	45%	40%	28%	34%	31%	31%	27%	26%	25%	28%	30%	32%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Promoters	60.82%	60.82%	60.82%	60.82%	60.82%	60.82%	60.82%	60.82%	60.82%	60.82%	60.82%	60.82%
FIIs	18.92%	18.98%	18.80%	19.42%	19.65%	18.45%	18.67%	19.38%	19.15%	18.56%	16.64%	16.21%
DIIs	15.28%	15.33%	15.62%	15.12%	14.95%	15.77%	15.78%	15.21%	15.44%	16.17%	17.80%	18.37%
Government	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.04%	0.04%	0.04%	0.04%	0.04%
Public	4.74%	4.63%	4.54%	4.40%	4.35%	4.65%	4.53%	4.42%	4.37%	4.24%	4.41%	4.26%
Others	0.23%	0.23%	0.21%	0.21%	0.21%	0.28%	0.18%	0.13%	0.18%	0.16%	0.30%	0.30%
No. of Shareholders	9,40,079	9,09,359	8,79,120	8,52,902	8,55,960	9,50,147	8,75,164	8,68,735	8,80,722	8,85,835	9,29,235	8,82,505

Shareholding Pattern Chart

No. of Shareholders

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

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
Parag Parikh Flexi Cap Fund	23,460,156	2.97	3977.9	21,315,882	2026-02-23 06:20:04	10.06%
HDFC Flexi Cap Fund	18,000,000	3.13	3052.08	N/A	N/A	N/A
HDFC Balanced Advantage Fund	10,072,008	1.6	1707.81	N/A	N/A	N/A
HDFC Focused Fund	7,450,000	4.8	1263.22	7,258,892	2025-12-14 03:50:10	2.63%
ICICI Prudential Balanced Advantage Fund	5,530,457	1.33	937.74	5,820,957	2026-02-23 00:30:02	-4.99%
SBI Balanced Advantage Fund	4,320,701	1.82	732.62	N/A	N/A	N/A
ICICI Prudential Technology Fund	4,103,783	4.51	695.84	4,857,750	2026-02-23 06:20:04	-15.52%
Aditya Birla Sun Life Flexi Cap Fund	4,103,703	2.82	695.82	5,791,256	2025-12-08 01:35:30	-29.14%
Kotak Flexicap Fund	3,900,000	1.17	661.28	N/A	N/A	N/A
Nippon India Large Cap Fund	3,600,927	1.22	610.57	N/A	N/A	N/A

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21
FaceValue	2.00	2.00	2.00	2.00	2.00
Basic EPS (Rs.)	64.16	57.99	54.85	49.77	41.07
Diluted EPS (Rs.)	64.09	57.86	54.79	49.77	41.07
Cash EPS (Rs.)	79.13	73.23	69.94	65.75	58.12
Book Value[Excl.RevalReserv]/Share (Rs.)	256.56	251.46	240.88	228.38	221.30
Book Value[Incl.RevalReserv]/Share (Rs.)	256.56	251.46	240.88	228.38	221.30
Revenue From Operations / Share (Rs.)	431.14	404.84	373.69	315.47	277.64
PBDIT / Share (Rs.)	103.09	94.63	88.35	79.55	77.26
PBIT / Share (Rs.)	88.05	79.26	73.08	63.61	60.27
PBT / Share (Rs.)	85.68	77.23	71.78	62.44	58.39
Net Profit / Share (Rs.)	64.08	57.86	54.68	49.81	41.14
NP After MI And SOA / Share (Rs.)	64.05	57.83	54.70	49.72	41.05
PBDIT Margin (%)	23.91	23.37	23.64	25.21	27.82
PBIT Margin (%)	20.42	19.57	19.55	20.16	21.70
PBT Margin (%)	19.87	19.07	19.20	19.79	21.03
Net Profit Margin (%)	14.86	14.29	14.63	15.78	14.81
NP After MI And SOA Margin (%)	14.85	14.28	14.63	15.76	14.78
Return on Networth / Equity (%)	24.96	23.00	22.70	21.80	18.60
Return on Capital Employeed (%)	30.84	27.92	27.56	24.58	23.78
Return On Assets (%)	16.47	15.73	15.89	15.16	12.93
Long Term Debt / Equity (X)	0.00	0.03	0.03	0.06	0.06
Total Debt / Equity (X)	0.03	0.03	0.03	0.06	0.06
Asset Turnover Ratio (%)	1.14	1.14	0.64	0.58	0.51
Current Ratio (X)	2.21	2.61	2.50	2.56	2.48
Quick Ratio (X)	2.21	2.60	2.49	2.55	2.47
Inventory Turnover Ratio (X)	736.19	0.00	0.00	0.00	0.00
Dividend Payout Ratio (NP) (%)	93.46	89.67	87.50	84.38	29.22
Dividend Payout Ratio (CP) (%)	75.69	70.84	68.40	63.90	20.67
Earning Retention Ratio (%)	6.54	10.33	12.50	15.62	70.78
Cash Earning Retention Ratio (%)	24.31	29.16	31.60	36.10	79.33
Interest Coverage Ratio (X)	43.46	46.46	67.95	67.70	41.05
Interest Coverage Ratio (Post Tax) (X)	28.02	29.41	43.05	43.39	22.86
Enterprise Value (Cr.)	412962.93	401190.95	282423.30	307290.53	262115.68
EV / Net Operating Revenue (X)	3.53	3.65	2.78	3.59	3.48
EV / EBITDA (X)	14.75	15.61	11.77	14.23	12.50
MarketCap / Net Operating Revenue (X)	3.69	3.81	2.91	3.69	3.54
Retention Ratios (%)	6.53	10.32	12.49	15.61	70.77
Price / BV (X)	6.20	6.14	4.51	5.10	4.46
Price / Net Operating Revenue (X)	3.69	3.81	2.91	3.69	3.54
EarningsYield	0.04	0.03	0.05	0.04	0.04

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

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. 55031.00 Cr. and Equity Capital is Rs. 543.00 Cr. for the Year ended 31/03/2026.

INDUSTRY	ADDRESS	CONTACT
IT Consulting & Software	806, Siddharth, New Delhi Delhi 110019	Contact not found

Management
Name	Position Held
Mr. Shiv Nadar	Chairman Emeritus
Ms. Roshni Nadar Malhotra	Non Exe. Non Ind Chairperson
Mr. C Vijayakumar	Managing Director & CEO
Mr. Shikhar Malhotra	Non Exe.Non Ind.Director
Mr. Thomas Sieber	Ind. Non-Executive Director
Ms. Nishi Vasudeva	Ind. Non-Executive Director
Mr. Deepak Kapoor	Ind. Non-Executive Director
Mr. Simon John England	Ind. Non-Executive Director
Ms. Vanitha Narayanan	Ind. Non-Executive Director
Ms. Lee Fang Chew	Ind. Non-Executive Director
Ms. Bhavani Balasubramanian	Ind. Non-Executive Director

FAQ

What is the intrinsic value of HCL Technologies Ltd and is it undervalued?

As of 27 April 2026, HCL Technologies Ltd's intrinsic value is ₹733.50, which is 39.03% lower than the current market price of ₹1,203.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (24.0 %), book value (₹277), dividend yield (4.49 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of HCL Technologies Ltd?

HCL Technologies Ltd is trading at ₹1,203.00 as of 27 April 2026, with a FY2026-2027 high of ₹1,780 and low of ₹1,198. The stock is currently near its 52-week low. Market cap stands at ₹3,26,508 Cr..

How does HCL Technologies Ltd's P/E ratio compare to its industry?

HCL Technologies Ltd has a P/E ratio of 18.8, which is below the industry average of 107.32. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is HCL Technologies Ltd financially healthy?

Key indicators for HCL Technologies Ltd: ROCE of 30.6 % indicates efficient capital utilization; ROE of 24.0 % shows strong shareholder returns. Dividend yield is 4.49 %.

Is HCL Technologies Ltd profitable and how is the profit trend?

HCL Technologies Ltd reported a net profit of ₹17,399 Cr in Mar 2025 on revenue of ₹117,055 Cr. Compared to ₹13,523 Cr in Mar 2022, the net profit shows an improving trend.

Does HCL Technologies Ltd pay dividends?

HCL Technologies Ltd has a dividend yield of 4.49 % at the current price of ₹1,203.00. This is a relatively attractive yield for income-seeking investors.