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HCL Technologies Results: Latest Quarterly Results & Analysis

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HCL Technologies Ltd. 13 Jul 2026 18:45 PM
Result PDF

Q1FY27 Quarterly Result Announced for HCL Technologies Ltd.

IT Consulting & Software company HCL Technologies announced Q1FY27 results

Consolidated Financial Highlights:

  • Revenue from Operations: Reached Rs 34,579 crore in Q1FY27, demonstrating a Year-on-Year (YoY) growth of 13.94% compared to Rs 30,349 crore in Q1FY26, and a Quarter-on-Quarter (QoQ) growth of 1.76% from Rs 33,981 crore in Q4FY26. For FY26, revenue stood at Rs 130,144 crore.
  • Total Income: Reported at Rs 34,940 crore in Q1FY27, indicating a YoY increase of 13.42% from Rs 30,805 crore in Q1FY26, and a QoQ rise of 1.86% against Rs 34,303 crore in Q4FY26. Total income for FY26 was Rs 131,674 crore.
  • Profit Before Tax: Achieved Rs 6,108 crore in Q1FY27, marking a YoY growth of 17.71% from Rs 5,189 crore in Q1FY26, and a QoQ increase of 7.12% from Rs 5,702 crore in Q4FY26. Profit before tax for FY26 was Rs 22,102 crore.
  • Profit for the Period (PAT): Stood at Rs 4,626 crore in Q1FY27, reflecting a solid YoY growth of 20.34% compared to Rs 3,844 crore in Q1FY26, and a QoQ increase of 3.03% from Rs 4,490 crore in Q4FY26. The net profit for FY26 was Rs 16,652 crore.
  • Total Comprehensive Income: Amounted to Rs 4,691 crore in Q1FY27, registering a YoY decline of 7.24% from Rs 5,057 crore in Q1FY26, and a QoQ decline of 13.23% from Rs 5,406 crore in Q4FY26. For FY26, it stood at Rs 20,361 crore.
  • Earnings Per Share (EPS): Basic EPS was Rs 17.09 in Q1FY27, an improvement from Rs 14.18 in Q1FY26 and Rs 16.59 in Q4FY26.

Standalone Financial Highlights:

  • Revenue from Operations: Stood at Rs 14,337 crore in Q1FY27, recording a YoY growth of 9.67% from Rs 13,073 crore in Q1FY26, and a QoQ increase of 11.23% from Rs 12,890 crore in Q4FY26. For FY26, revenue was Rs 55,031 crore.
  • Total Income: Reached Rs 18,738 crore in Q1FY27, representing a YoY jump of 39.66% against Rs 13,417 crore in Q1FY26, and a QoQ surge of 32.56% from Rs 14,135 crore in Q4FY26. Total income for FY26 was Rs 57,236 crore.
  • Profit/(Loss) Before Tax: Reported a profit of Rs 7,985 crore in Q1FY27, registering a YoY growth of 106.17% from Rs 3,873 crore in Q1FY26. This reflects a substantial turnaround from a loss of Rs 1,808 crore in Q4FY26. For FY26, profit before tax was Rs 10,024 crore.
  • Profit/(Loss) for the Period: Achieved Rs 7,025 crore in Q1FY27, delivering a robust YoY increase of 143.25% from Rs 2,888 crore in Q1FY26, recovering sharply from a loss of Rs 900 crore in Q4FY26. For FY26, net profit was Rs 7,627 crore.
  • Total Comprehensive Income: Amounted to Rs 7,381 crore in Q1FY27, surging 171.66% YoY from Rs 2,717 crore in Q1FY26, effectively bouncing back from a comprehensive loss of Rs 2,022 crore in Q4FY26.
  • Earnings Per Share (EPS): Basic EPS stood at Rs 25.96 in Q1FY27, compared to Rs 10.66 in Q1FY26 and Rs (3.33) in Q4FY26.

Business Highlights & Segment-wise Performance:

  • Dividend Announcement: The Board of Directors declared an interim dividend of Rs 12 per equity share of Rs 2 each for the financial year FY27. The record date for the payment is July 17, 2026, and the payment will be made on July 27, 2026.
  • Acquisition of Jaspersoft: Following a definitive agreement signed on December 22, 2025, the Group completed the acquisition of Jaspersoft (a business unit of Cloud Software Group) on July 1, 2026, for Rs 2,275 crore (USD 240 million). This acquisition brings a leading embedded analytics and pixel-perfect reporting platform into the company's portfolio.
  • Segment-wise Performance:
    • IT and Business Services: Revenue stood at Rs 26,049 crore in Q1FY27, recording a YoY growth of 16.01% and a QoQ growth of 2.38%.
    • Engineering and R&D Services: Generated revenue of Rs 5,690 crore in Q1FY27, registering a YoY growth of 9.97% but a slight QoQ decline of 1.61%.
    • HCL Software: Revenue reached Rs 2,840 crore in Q1FY27, marking a YoY increase of 4.37% and a QoQ growth of 3.09%.

Roshni Nadar Malhotra, Chairperson, HCLTech, said: “AI is accelerating the transformation of global enterprises and unlocking new growth vectors for HCLTech. With our differentiated portfolio, we continue to demonstrate our ability to help clients leverage technology to drive their business strategies. We also remain focused on upskilling our people in emerging technologies and are embedding AI across the organization.”

CVijayakumar, CEO & Managing Director, HCLTech, said: “We recorded our highest ever Q1 net-new bookings of $2.4Bn and our Advanced AI business grew 10.6% QoQ and 62.1% YoY in constant currency terms. These demonstrate that enterprises are choosing us to lead their AI-led transformation. Combined with the operational efficiencies visible in margin expansion, this momentum gives us the confidence we're positioned to keep outpacing the market over the medium term.”

Shiv Walia, Chief Financial Officer, HCLTech, said: “HCLTech delivered a steady Q1FY27 performance, with revenue growth of 13.9% YoY, EBIT growth of 18.0% YoY and Net Income growth of 20.3% YoY. Excluding the impact of restructuring costs, EBIT margin and Net Income margin stood at 17.5% and 13.8%, respectively. Our cash generation continues to be robust, with OCF/NI at 111%, reflecting the strength and resilience of our business model. We remain focused on further improving capital efficiency and are pleased to report LTM ROIC of 40.7% for the company, up 257 bps YoY, and 47.8% for the Services business, up 260 bps YoY.”

Result PDF

Result PDF
IT Consulting & Software company HCL Technologies announced Q4FY26 & FY26 results

Q4FY26 Financial Highlights:

  • INR Revenue of Rs 33,981 crore, up 0.3% QoQ & up 12.3% YoY.
    • HCLTech Services CC Revenue down 0.1% QoQ & up 4.2% YoY.
    • Advanced AI Revenue at USD 155 million, up 6.1% QoQ CC.
    • HCLSoftware CC Revenue down 14.1% YoY.
    • HCLSoftware ARR at USD 1.05 billion, down 0.5% YoY CC
  • INR EBIT at Rs 5,620 crore (16.5% of revenue), down 10.6% QoQ & up 3.3% YoY.
  • EBIT Margin excl. restructuring at 17.7%
  • NI at Rs 4,488 crore (13.2% of revenue), down 6.4% QoQ & up 4.2% YoY.
  • NI Margin excl. restructuring at 14.2%.
  • Dividend of Rs 24/- per share, 93rd consecutive quarter of dividend pay-out.
  • Bookings: TCV (New Deal wins) at USD 1,936 million.
  • People:
    • Total People Count at 227,181; Net addition: 802.
    • Added 1,712 freshers.
    • LTM Attrition at 12.5%, (down from 13.0% in Q4 of last year)

FY26 Financial Highlights:

  • INR Revenue of Rs 130,144 crore, up 11.2%.
    • HCLTech Services CC Revenue up 4.8%.
    • Annualized Advanced AI Revenue at USD 620 million.
    • HCLSoftware CC Revenue down 4.1%.
    • HCLSoftware ARR at USD 1.05 billion, down 0.5% CC
  • INR EBIT at Rs 22,397 crore (17.2% of revenue), up 4.6%.
  • EBIT Margin excl. restructuring at 17.9%.
  • NI at Rs 17,361 crore (13.3% of revenue), down 0.2%.
  • NI Margin excl. restructuring at 13.8%.
  • EPS (Diluted) at Rs 64.01, down 0.1%
  • Bookings: TCV (New Deal wins) at USD 9,323 million.
  • People:
    • Total People Count at 227,181; Net addition of 3,761.
    • Added 11,744 freshers.
    • LTM Attrition at 12.5% (down from 13.0% in Q4 of last year).

Roshni Nadar Malhotra Chairperson, HCLTech, said: “As the global economy pivots to the AI era, we are evolving our all-weather portfolio and empowering our people so that we are nimble in adapting to fast-changing technology cycles and create value for our stakeholders. We continue to invest in creating AI propositions that are well-positioned to leverage emerging long-term growth opportunities.”

C Vijayakumar, CEO & Managing Director, HCLTech, said: “HCLTech delivered superior revenue growth of 3.9% in constant currency, 10 bps below our guidance and 17.2% operating margin within our guidance, in a year marked by an uncertain demand environment. During the quarter, our performance came below our expectations due to softness in certain parts of our business due to lower discretionary spend and delayed decision making. Our new AI-led service offerings are getting traction in the market and is reflected in annualized Advanced AI revenues crossing USD 620 million in Q4. Our #1 priority in FY27 is to ensure the company is positioned right to take advantage of AI opportunities for multi-decade value creation.”

Shiv Walia, Chief Financial Officer, HCLTech, said: “HCLTech delivered resilient FY26 results with revenues at Rs 130,144 crore, up 11.2% YoY, and EBIT at Rs 22,397 crore (17.2% of revenue), up 4.6% YoY. Net Income for the year came in at Rs 17,361 crore (13.3% of revenue), translating to an EPS of Rs 64.01. Excluding the impact of restructuring costs, EBIT and Net Margin came in at 17.9%, and 13.8%, respectively. Our Board is pleased to declare Rs 24/share as the Dividend for the quarter, bringing the total to Rs 60/share for FY26, which is 97.6% of the EPS. We continue to expand ROIC, with the Company’s ROIC up 235 bps YoY at 40.3% and Services’ ROIC up 155 bps YoY at 47.0%. Our cash generation remains robust with OCF/NI at 115% and FCF/NI at 107%.”

Result PDF

IT Consulting & Software company HCL Technologies announced Q3FY26 results
  • Revenue:
    • Revenue of Rs 33,872 crore, up 6.0% QoQ & up 13.3% YoY.
    • Constant Currency (CC) Revenue up 4.2% QoQ & up 4.8% YoY
    • USD Revenue of USD 3,793 million, up 4.1% QoQ & up 7.4% YoY.
    • HCLTech Services CC Revenue up 1.8% QoQ & up 5.0% YoY.
    • HCLSoftware CC Revenue up 3.1% YoY
    • HCLSoftware ARR at USD 1.07 billion, up 0.6% YoY CC
  • Profitability:
    • Rs EBIT at Rs 6,285 crore (18.6% of revenue), up 13.2% QoQ & up 8.0% YoY
    • Q3FY26 EBIT Margin includes 81 bps impact of restructuring cost
    • NI at Rs 4,795 crore (14.2% of revenue), up 13.2% QoQ & up 4.5% YoY
    • ROIC (on LTM basis) – Company at 39.4%, up 277 bps YoY; Services at 45.9%, up 117 bps YoY.
    • FCF/NI at 120% (on LTM basis).
    • Dividend of Rs 12/- per share, 92nd consecutive quarter of dividend pay-out
  • Bookings: TCV (New Deal wins) at USD 3,006M, up 17.0% QoQ & up 43.5% YoY.
  • Total People Count at 2,26,379; Net addition: (261); Added 2,852 freshers
  • LTM Attrition at 12.4%, (down from 13.2% in Q3 of last year)

Roshni Nadar Malhotra Chairperson HCLTech, said: “We have delivered another quarter of robust performance driven by the differentiated value we bring to our clients. AI continues to be a key growth driver across our portfolio, and we are sharpening our capabilities to leverage these emerging opportunities.”

C Vijayakumar CEO & Mana, said: “Another standout quarter on all fronts, with revenue up 4.2% QoQ in constant currency along with a strong recovery of operating margin to 18.6%. The strong revenue momentum in the quarter has enabled us to cross USD 15 billion in annualized revenues. Our new bookings were exceptionally high at USD 3 billion. Our Services revenue grew 1.8% QoQ in constant currency, driven by 19.9% QoQ growth in Advanced AI services. HCL Software revenue grew sharply by 28.1% QoQ and 3.1% YoY in constant currency, driven by seasonality and data Intelligence portfolio. We are well positioned to address evolving AI demand of our clients across industries and service lines.”

Shiv Walia Chief Financial Officer HCLTech, said: “HCLTech delivered an impressive financial result with Q3FY26 revenue of Rs 33,872 crore (up 6.0% QoQ and 13.3% YoY). Q3 EBIT margins, excluding the one-time impact of New Labour Codes, came in at 18.6% (up 111 bps QoQ). Our dedicated efforts to improve cash conversion has yielded in FCF/NI (LTM basis) remaining healthy at 120% and we ended the quarter with our highest ever cash balance of Rs 34,306 crore. LTM Return on Invested Capital (ROIC) continues to improve and stands at 39.4% for the company (up 277 bps YoY), 45.9% for Services (up 117 bps YoY) and at 23.1% for HCLSoftware (up 513 bps YoY).”

Result PDF

IT Consulting & Software company HCL Technologies announced Q2FY26 results
  • Revenue:
    • Revenue of Rs 31,942 crore, up 5.2% QoQ & up 10.7% YoY.
    • Constant Currency (CC) Revenue up 2.4% QoQ & up 4.6% YoY.
  • Profitability & Return Metrics:
    • EBIT at Rs 5,550 crore (17.4% of revenue), up 12.3% QoQ & up 3.5% YoY.
    • Q2FY26 EBIT Margin includes 55 bps impact of restructuring cost
    • NI at Rs 4,235 crore (13.3% of revenue), up 10.2% QoQ & flat YoY.
    • ROIC (on LTM basis) – Company at 38.6%, up 290 bps YoY; Services at 45.3%, up 180 bps YoY.
    • Dividend of Rs 12/- per share, 91st consecutive quarter of dividend pay-out.
  • Bookings: TCV (New Deal wins) at USD 2,569 million, up 41.8% QoQ & up 15.8% YoY.
  • People: 
    • Total People Count at 226,640; Net addition: 3,489.
    • Added 5,196 freshers.
    • LTM Attrition at 12.6%, (down from 12.9% in Q2FY25).

Roshni Nadar Malhotra, Chairperson, HCLTech, said: “We continue to perform well despite the uncertain business environment and are investing in new technologies and capabilities to unlock growth opportunities. The upskilling of our global talent base remains a key priority and an enabler of innovation for our clients.”

C Vijayakumar, CEO & Managing Director, HCLTech, said: “A standout quarter on every front — marked by strong execution, growing demand for our AI-powered solutions, and Advanced AI revenue exceeding USD 100 million this quarter. Our revenue grew 2.4% sequentially in constant currency with a strong recovery of operating margin to 17.5%. For the first time, our new bookings surpassed USD 2.5 billion, without reliance on any mega-deal. We added 3,489 people to our employee base while continuing to increase our revenue per employee 1.8% YoY aligned with our AI growth strategy.”

Shiv Walia, Chief Financial Officer, HCLTech, said: “HCLTech delivered strong Rs revenue growth of 5.2% QoQ and 10.7% YoY in Q2FY26. This superior revenue growth is accompanied by enhanced profitability and solid cash generation, with Last Twelve Month (LTM) FCF/NI ratio at 125%. We remain committed to improving our capital efficiency and are pleased to report LTM ROIC for the company is 38.6%, up 290 bps YoY and for Services business is 45.3%, up 180 bps YoY.”

Result PDF

HCL Technologies company HCL Technologies announced Q1FY26 results

Q1FY26 Financial Highlights:

  • Revenue:
    • INR Revenue of Rs 30,349 crore, up 0.3% QoQ & up 8.2% YoY.
    • Constant Currency (CC) Revenue down 0.8% QoQ & up 3.7% YoY.
    • USD Revenue of USD 3,545M, up 1.3% QoQ & up 5.4% YoY.
    • Consolidated Revenue on LTM basis crosses USD 14 billion.
    • HCLTech Services CC Revenue down 0.1% QoQ & up 4.5% YoY.
    • Digital Revenue up 15.2% YoY CC; contributes 41.6% of Services.
    • HCLSoftware Revenue down 3.0% YoY CC.
    • HCLSoftware ARR at USD 1.06B, up 1.3% YoY CC
  • Profitability & Return Metrics:
    • EBIT at Rs 4,942 crore (16.3% of revenue), down 9.2% QoQ & up 3.1% YoY.
    • NI at Rs 3,843 crore (12.7% of revenue), down 10.8% QoQ & down 9.7% YoY.
    • ROIC (on LTM basis) – Company at 38.1%, up 353 bps YoY; Services at 45.2%, up 236 bps YoY.
    • OCF at USD 2,571 million and FCF at USD 2,421 million (on LTM basis).
    • FCF/NI at 121% (on LTM basis).
    • Dividend of Rs 12/- per share, 90th consecutive quarter of dividend pay-out.
  • Bookings: TCV (New Deal wins) at USD 1,812 million
  • People:
    • Total People Count at 223,151; Net addition: (269).
    • Added 1,984 freshers.
    • LTM Attrition at 12.8%, (on par with 12.8% in Q1 of last year).

Roshni Nadar Malhotra, Chairperson, HCL Tech, said: “Al has become integral to business growth of global enterprises. HCLTech's capabilities and strategic partnerships ensure our Al-led solutions are practical, comprehensive and significant value creators to our clients. We also remain intensely focused on the ethical deployment of Al and maximizing its positive social impact.”

C. Vijayakumar, CEO & Managing Director, HCL Tech, said: “We had healthy revenue growth of 3.7 % YoY supported by good performance in our Services business with 4.5 % YoY growth in constant currency. Our operating margin came at 16.3 %, impacted by lower utilization and additional Gen Al and GTM investments. Our Al propositions are resonating well with our clients and have been augmented further by our partnership with Open Al. Our pipeline continues to grow as the demand environment was stable during the quarter. As the only service provider positioned as ‘Customer's Choice’ in all 6 Gartner Voice of Customer Quadrant evaluations related to IT services, we are well positioned to grow in the Al era.”

Shiv Walia, Chief Financial Officer, HCL Tech, said: “HCLTech Q1 FY26 INR revenue grew an impressive 8.2 % YoY. EBIT for the quarter came in at Rs 4,942 crore and Net Income at Rs 3,843 crore and at 16.3 % and 12.7 % of revenue respectively. Our cash generation remains robust with OCF/NI at 129 % and FCF/NI at 121 %, reflecting the underlying strength of our business model. Our commitment to capital efficiency has resulted in LTM ROIC improving for the company by 353 bps YoY to 38.1 % and for Services business by 236 bps YoY to 45.2 %.”

Result PDF

IT Consulting & Software company HCL Technologies announced Q4FY25 & FY25 results

Q4FY25 Financial Highlights:

  • Revenue:
    • INR Revenue of Rs 30,246 crore, up 1.2% QoQ & up 6.1% YoY.
    • Constant Currency (CC) Revenue down 0.8% QoQ & up 2.9% YoY.
    • USD Revenue of USD 3,498 million, down 1.0% QoQ & up 2.0% YoY.
    • Services CC Revenue up 0.7% QoQ & up 2.7% YoY.
    • Digital CC Revenue up 12.6% YoY; contributes 40.7% of Services.
    • HCLSoftware ARR at USD 1.03 billion, up 1.8% YoY CC
  • Profitability & Return Metrics:
    • EBIT at Rs 5,442 crore (18.0% of revenue), down 6.5% QoQ & up 8.4% YoY.
    • Net Income at Rs 4,307 crore (14.2% of revenue), down 6.2% QoQ & up 8.1% YoY.
    • ROIC (on LTM basis) – Company at 37.9%, up 411 bps YoY; Services at 45.5%, up 376 bps YoY.
    • OCF at USD 2,632 million and FCF at USD 2,501 million (on LTM basis).
    • FCF/NI at 123% (on LTM basis).
    • Dividend of Rs 18/- per share, 89th consecutive quarter of dividend pay-out.

FY25 Financial Highlights:

  • Revenue:
    • INR Revenue of Rs 117,055 crore, up 6.5%.
    • Constant Currency (CC) Revenue up 4.7%.
    • USD Revenue of USD 13,840 million, up 4.3%.
    • HCLTech Services CC Revenue up 4.8%.
    • Digital CC Revenue up 8.6%; contributes 39.0% of Services.
    • HCLSoftware CC Revenue up 3.5%.
    • HCLSoftware ARR at USD 1.03 billion, up 1.8% CC.
  • Profitability & Return Metrics:
    • EBIT at Rs 21,420 crore (18.3% of revenue), up 7.0%.
    • Net Income at Rs 17,390 crore (14.9% of revenue), up 10.8%.
    • EPS (Diluted) at Rs 64.09, up 10.8%.
    • ROIC – Company at 37.9%, up 411 bps; Services at 45.5%, up 376 bps.
    • OCF at USD 2,632 million and FCF at USD 2,501 million.
    • FCF/NI at 123%.
    • Full Year Dividend at Rs 60/- per share. Payout ratio of 93.5% for FY25.

Roshni Nadar Malhotra Chairperson HCLTech, said: “HCLTech has delivered another year of robust growth with its futureready portfolio. We also marked the 25th anniversary of HCLTech going public and achieved the distinction of delivering best-in-class TSR over the past decade. We remain committed to creating value for all our stakeholders.”

C Vijayakumar CEO & Managing Director HCLTech, said: “HCLTech grew the fastest among our peers for the second year in a row as we witnessed yet another year of disciplined execution. We delivered on our FY25 guidance with revenue growth of 4.7% in constant currency and EBIT margin of 18.3%. HCL Software growth continues to accelerate as it grew 3.5% CC this year. During this quarter, our services business delivered healthy growth of 0.7% QoQ CC amidst volatile market conditions. We saw very strong new bookings of $3B this quarter catalyzed by our AI propositions and integrated GTM organization that was set up at the start of the fiscal year. The strength of our execution should present us good medium-term opportunities emerging out of global uncertainties while we navigate the short-term cautiously.”

Shiv Walia Chief Financial Officer HCLTech, said: “HCLTech delivered 6.5% INR revenue growth in FY25, yet another year of best-in-class performance. Our revenue came in at Rs 1,17,055 crore, up 6.5% and EBIT at Rs 21,420 crore, up 7.0%. HCLTech service revenue crossed a new milestone at Rs 1,05,398 crore, up 6.6%. Our Net Income (NI) for the year came in at Rs 17,390 crore, up 10.8%, translating to an EPS of Rs 64.09. Our Board is pleased to declare Rs 18/share as the Dividend for the quarter, bringing the total to Rs 60/share for FY25, which is 93.5% of the EPS. ROIC stands at 37.9% for the Company up 411 bps; at 45.5% for Services, up 376 bps. Our cash generation remains robust with OCF/NI at 129% and FCF/NI at 123%.”

Result PDF

IT Consulting & Software company HCL Technologies announced Q3FY25 results

Financial Highlights:

  • INR Revenue of Rs 29,890 crore, up 3.6% QoQ & up 5.1% YoY
  • Constant Currency (CC) Revenue up 3.8% QoQ & up 4.1% YoY
  • USD Revenue of USD 3,533 million, up 2.5% QoQ & up 3.5% YoY
  • HCLTech Services CC Revenue up 2.2% QoQ & up 4.9% YoY
  • Digital Revenue up 6.3% YoY CC; contributes 38.5% of Services
  • HCLSoftware Revenue down 2.1% YoY CC
  • HCLSoftware ARR at USD 1.02 billion, down 0.6% YoY CC
  • EBIT at Rs 5,821 crore (19.5% of revenue), up 8.6% QoQ & up 3.7% YoY
  • NI at Rs 4,591 crore (15.4% of revenue), up 8.4% QoQ & up 5.5% YoY
  • ROIC (on LTM basis) – Company at 36.6%, up 385 bps YoY; Services at 44.7%, up 455 bps YoY
  • OCF at USD 2,851 million and FCF at USD 2,716 million (on LTM basis)
  • FCF/NI at 134% (on LTM basis)
  • Dividend of Rs 18/- per share including special dividend of Rs 6/- per share to celebrate 25 years of HCLTech’s public listing. This represents 88th consecutive quarter of dividend pay-out

Business Highlights:

  • Bookings: TCV (New Deal wins) at USD 2,095 million
  • Total People Count at 220,755; Net addition: 2,134
  • Added 2,014 freshers
  • LTM Attrition at 13.2%, (up from 12.8% in Q3 of last year)

Roshni Nadar Malhotra, Chairperson, HCLTech, said, HCLTech is well positioned as AI-led transformation brings new opportunities for growth. We continue to deliver industry-leading performance with governance and sustainability at the core.“

C Vijayakumar, CEO & Managing Director, HCLTech, said, “HCLTech delivers another quarter of solid growth at 3.8% QoQ in constant currency and EBIT at 19.5%. I am pleased that this growth is powered by broad based performance across business lines as our clients across verticals and geos reaffirm their confidence in our Digital and AI offerings. Our new deal bookings were healthy during the quarter at USD 2.1 billion with wins across services and software. We are positioning ourselves for a future that is transformative, with AI empowering businesses and employees. We continue to see growing demand for our AI led propositions across services and software offerings.”

Shiv Walia, Chief Financial Officer, HCLTech, said, "HCLTech delivered yet another strong quarter with INR revenue of Rs 29,890 crore (up 3.6% QoQ and 5.1% YoY). Our razor-sharp focus on achieving topline growth with healthy margins is reflected in our highest ever EBIT of Rs 5,821 crore and Net Profit of Rs 4,591 crore this quarter. Q3 EBIT margins came in at 19.5% (up 93 bps QoQ). LTM Return on Invested Capital (ROIC) continues its growth trajectory and stands at 36.6% for the company (up 385 bps YoY), and at 44.7% for Services (up 455 bps YoY). Cash conversion (on LTM basis) continues to outpace our 5-year FCF/NI average of 126% with FCF/NI of 134% this quarter. This has further strengthened our Balance Sheet, helping us end the quarter with our highest ever cash balance of Rs 27,707 crore.”

Result PDF

IT Consulting & Software company HCL Technologies announced Q2FY25 results:

Financial Highlights:

Revenue:

  • Revenue of Rs 28,862 crore, up 2.9% QoQ & up 8.2% YoY
  • Constant Currency (CC) Revenue up 1.6% QoQ & up 6.2% YoY
  • USD Revenue of USD 3,445 million, up 2.4% QoQ & up 6.8% YoY
  • HCLTech Services Revenue up 1.6% QoQ & up 5.9% YoY CC
  • Digital Revenue up 7.8% YoY CC; contributes 38.5% of Services
  • HCLSoftware Revenue up 9.4% YoY CC
  • HCLSoftware ARR at USD 1.05 billion, up 0.6% YoY CC

Profitability & Return Metrics:

  • EBIT at Rs 5,362 crore (18.6% of revenue), up 11.8% QoQ & up 8.7% YoY
  • NI at Rs 4,235 crore (14.7% of revenue), down 0.5% QoQ & up 10.5% YoY
  • ROIC (on LTM basis) – Company at 35.7%, up 353 bps YoY; Services at 43.5%, up 403 bps YoY
  • OCF at USD 2,521 million and FCF at USD 2,388 million (on an LTM basis)
  • FCF/NI at 119% (on an LTM basis)
  • Dividend of Rs 12/- per share, 87th consecutive quarter of dividend pay-out

Other Highlights:

  • Bookings: TCV (New Deal wins) at USD 2,218 million
  • Total People Count at 218,621; Net addition: (780)
  • Added 2,932 freshers
  • LTM Attrition at 12.9%*, (down from 14.2% in Q2 of last year)

Roshni Nadar Malhotra, Chairperson, HCLTech, said: “We remain committed to delivering business growth in a sustainable and responsible way. We have sharpened our focus on upskilling our people in next-generation technologies to continue enabling the art of the possible for our clients. Our global community engagement footprint continues to grow.”

C Vijayakumar, CEO & Managing Director, HCLTech, said: "We delivered a strong quarter with revenue growing 1.6% QoQ in constant currency and EBIT coming in at 18.6%. This growth was well distributed across verticals, geographies, and offerings. HCL Software has delivered a stellar performance of 9.4% YoY this quarter and 6.4% growth in H1FY25 in constant currency, demonstrating the increasing relevance of our products for the digital economy. Our pipeline is very strong, including Data & AI, Digital Engineering, SAP migration, and efficiency-led programs. Our GenAI offerings like AI Force and AI Foundry are resonating very well with our clients and should be drivers of efficiency, growth, and innovation over the medium term.”

Shiv Walia, Chief Financial Officer, HCLTech, said: “HCLTech has delivered robust financial results with constant currency (CC) revenue growth at an industry-leading 6.2% YoY. Rs revenue reached Rs 28,862 crore, marking a sequential growth of 2.9% and a YoY growth of 8.2%. This revenue growth has come with improved profitability. Our EBIT margins in Q2 rose to 18.6%, up 149 bps sequentially. LTM Return on Invested Capital (ROIC) stands at a solid 35.7% at the company level and 43.5% at services, an expansion of 353 bps YoY and 403 bps YoY respectively. Our dedicated efforts to improve our cash conversion continue to yield best-in-class results, with LTM FCF/NI coming in at 119%.”

Result PDF

IT Consulting & Software company HCL Technologies announced Q1FY25 results:

Financial Highlights:

Revenue:
• INR Revenue of Rs 28,057 crore, down 1.6% QoQ & up 6.7% YoY
• Constant Currency (CC) Revenue down 1.6% QoQ & up 5.6% YoY
• USD Revenue of USD 3,364 million, down 1.9% QoQ & up 5.1% YoY
• HCLTech Services Revenue down 1.9% QoQ & up 5.8% YoY CC
• Digital Revenue up 6.0% YoY CC; contributes 37.4% of Services
• HCLSoftware Revenue up 3.5% YoY CC
• HCLSoftware ARR at USD 1.01 billion , down 0.3% YoY CC

Profitability & Return Metrics:
• EBIT at Rs 4,795 crore (17.1% of revenue), down 4.4% QoQ & up 7.5% YoY
• Net Income at Rs 4,257 crore (15.2% of revenue), up 6.8% QoQ & up 20.4% YoY
• ROIC (on LTM basis) – Company at 34.6%, up 350 bps YoY; Services at 42.8%, up 476 bps YoY
• OCF at USD 2,722 million and FCF at USD 2,604 million (on LTM basis)
• FCF/NI at 133% (on LTM basis)
• Dividend of Rs 12/- per share, 86th consecutive quarter of dividend pay-out

Bookings:

• TCV (New Deal wins) at USD 1,960M

People:
• Total People Count at 219,401; Net addition: (8,080)
• Reduction in headcount due to divestiture (7,398)
• Added 1,078 freshers
• LTM Attrition at 12.8%*, (down from 16.3% in Q1 of last year)

Roshni Nadar Malhotra Chairperson HCLTech said: “With our future-ready portfolio, we are well placed to tap emerging opportunities led by GenAI. We remain committed to doing business sustainably and responsibly as we continue to supercharge progress for our clients.”

C Vijayakumar CEO & Managing Director HCLTech said: “We are pleased to report another quarter of industryleading performance with 5.6 % YoY revenue growth on constant currency basis. Our Q1 Revenue and EBIT performance was slightly better than our expectations. We clocked in USD 2B TCV of new business Bookings. We are confident of decent growth in the coming quarters, positioning us well to deliver our revenue guidance for the year as clients continue to spend on GenAI and other emerging technologies.”

Result PDF

IT Consulting & Software company HCL Technologies announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

  • Revenue of Rs 28,499 Crore, up 0.2% QoQ & up 7.1% YoY.
  • Constant Currency (CC) Revenue up 0.3% QoQ & up 6.0% YoY.
  • USD Revenue of USD 3,430 Mn, up 0.4% QoQ & up 6.0% YoY.
  • EBIT at Rs 5,018 Crore (17.6% of revenue), down 10.6% QoQ & up 3.8% YoY
  • Net Income at Rs 3,986 Crore (14.0% of revenue), down 8.4% QoQ & up 0.1% YoY
  • ROIC (on LTM basis) – Company at 33.8%, up 341 bps YoY; Services at 41.6%, up 430 bps YoY

FY24 Financial Highlights:

  • Revenue of Rs 1,09,913 Crore, up 8.3%
  • Constant Currency (CC) Revenue up 5.0%
  • USD Revenue of USD 13,270 Mn, up 5.4%
  • EBIT at Rs 20,027 Crore (18.2% of revenue), up 8.4%
  • Net Income at Rs 15,702 Crore (14.3% of revenue), up 5.7%
  • EPS (Diluted) at Rs 57.86, up 5.6%
  • ROIC – Company at 33.8%, up 341 bps; Services at 41.6%, up 430 bps

C Vijayakumar, CEO & Managing Director, HCLTech said, "HCLTech continues to lead the industry in FY24 with good USD revenue growth of 5.4% YoY during challenging times through our strong commitment to our clients and our people. More importantly, we have translated this growth into even higher value creation for our shareholders with our OCF coming at USD 2,711 Mn, up 21.6% YoY and FCF at USD 2,584 Mn, up 27.7% YoY. As we look ahead, global enterprise technology spend will only grow with adoption of AI. We are well positioned to capitalize with our AI led propositions, Global delivery model and ideal mix of technology services and products.”

Prateek Aggarwal, Chief Financial Officer, HCLTech said, "HCLTech’s FY24 performance underlines the resilience of our business model with Revenue at INR 109,913 Cr, growing 8.3%. We delivered this industry leading growth with EBIT at 20,027 Cr, up 8.4%. Net Income (NI) for the year came in at Rs 15,702 crores, up 5.7%, translating to an EPS of Rs 57.86. Our Board is pleased to declare Rs 18/share as the Dividend for the quarter, bringing the total to Rs 52/share for FY24, which is 90% of the EPS. Our razor-sharp focus on cash generation resulted in OCF/NI coming at 143% and FCF/NI at 136%. We continue to expand ROIC, with the Company’s ROIC up 341 bps YoY at 33.8% and Services’ ROIC up 430 bps YoY at 41.6%.”

Result PDF

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