HCL Technologies Ltd.
HCLTECHInformation Technology filings
We hold this company’s filings and have not read the financial statements out of them yet. Every filing on record is listed under filings, and each one opens.
Earnings calls
17 transcript(s)/analyst meet(s) served; 0 document(s) on file are not transcripts (cover letters, duplicates, unresolved) and are excluded. Speaker attribution is shown only where the segmenter attributes ≥ 95% of sentences to management or analysts (0 of 17 documents here); elsewhere sentences render unattributed.
| Kind | Date | Period | Served | Attribution rate |
|---|---|---|---|---|
| TRANSCRIPT | 20220425 | 2022-03-31 | yes | |
| TRANSCRIPT | 20220509 | 2022-03-31 | yes | |
| TRANSCRIPT | 20220718 | 2022-06-30 | yes | |
| TRANSCRIPT | 20221017 | 2022-09-30 | yes | |
| TRANSCRIPT | 20230117 | 2022-12-31 | yes | |
| TRANSCRIPT | 20230425 | 2023-03-31 | yes | |
| TRANSCRIPT | 20230718 | 2023-06-30 | yes | |
| TRANSCRIPT | 20231017 | 2023-09-30 | yes | |
| TRANSCRIPT | 20240116 | 2023-12-31 | yes | |
| TRANSCRIPT | 20240430 | 2024-03-31 | yes | |
| TRANSCRIPT | 20240717 | 2024-06-30 | yes | |
| TRANSCRIPT | 20241018 | 2024-09-30 | yes | |
| TRANSCRIPT | 20250115 | 2024-12-31 | yes | |
| TRANSCRIPT | 20250425 | 2025-03-31 | yes | |
| TRANSCRIPT | 20260116 | 2025-12-31 | yes | |
| TRANSCRIPT | 20260424 | 2026-03-31 | yes | |
| TRANSCRIPT | 20260715 | 2026-06-30 | yes |
HCLTECH
files the standard Schedule III statements. Every figure below opens to the filing it was read from; where a figure is not shown, the reason is printed in its place.
Identity
| Statement division | general |
| Scope served | consolidated |
| Panels on this page | 4 |
Market
The closes are adjusted for every split and bonus on record inside the period this series covers, and each adjustment is checked against the price move on its ex-date.
| Last close | 1,243.60 |
| 52-week range | 1034.2 – 1729.6 |
| Return 1M | -5.49% |
| Return 3M | 12.98% |
| Return 1Y | -13.78% |
| Return 3Y | -1.57% |
| Return 5Y | -8.44% |
| Market capitalisation | not shown — we could not confirm it |
| Shares outstanding | not shown — we could not confirm it |
| P/E | not shown — we could not confirm it |
| P/B | not shown — we could not confirm it |
| EV/EBITDA | not shown — we could not confirm it |
Latest quarter filed — period ending 2026-06-30
In INR crore except per-share figures. `period_id` is the period the filing names for the number; the date beside each cell is when it was filed.
| Revenue from operations | 34,579.00 |
| Other income | 361.00 |
| Total income | 34,940.00 |
| Cost of materials consumed | 0.00 |
| Purchases of stock-in-trade | 822.00 |
| Changes in inventories | 28.00 |
| Employee benefit expense | 19,692.00 |
| Finance costs | 84.00 |
Ownership — 2026-06-30, and the change from 2026-03-31
| Holder | Per cent | Change |
|---|---|---|
| promoter and promoter group | 0.61 | 0.00 |
| institutions foreign | 0.15 | -0.01 |
| institutions domestic | 0.19 | -0.00 |
| mutual funds | 0.09 | -0.00 |
| public | 0.39 | -0.00 |
Documents on file
| Class | Most recent | On file |
|---|---|---|
| TRANSCRIPT | 2026-06-30 | 17 |
Financial statements
Filed results, consolidated, in INR crore except per-share figures. Every figure opens to the filing it was read from. Quarterly and annual columns are the periods the filing itself names, never a document date.
Quarterly results, as filed
| Line | 2022-06-30 | 2022-09-30 | 2022-12-31 | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 23,464.00 | 24,686.00 | 26,700.00 | 26,606.00 | 26,296.00 | 26,672.00 | 28,446.00 | 28,499.00 | 28,057.00 | 28,862.00 | 29,890.00 | 30,349.00 | 31,942.00 | 33,872.00 | 33,981.00 | 34,579.00 |
| Other income | 409.00 | 236.00 | 260.00 | 453.00 | 344.00 | 365.00 | 370.00 | 416.00 | 1,103.00 | 456.00 | 477.00 | 456.00 | 415.00 | 385.00 | 322.00 | 361.00 |
| Total income | 23,873.00 | 24,922.00 | 26,960.00 | 27,059.00 | 26,640.00 | 27,037.00 | 28,816.00 | 28,915.00 | 29,160.00 | 29,318.00 | 30,367.00 | 30,805.00 | 32,357.00 | 34,257.00 | 34,303.00 | 34,940.00 |
| Cost of materials consumed | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Purchases of stock-in-trade | 355.00 | 492.00 | 648.00 | 577.00 | 468.00 | 377.00 | 417.00 | 492.00 | 404.00 | 480.00 | 578.00 | 527.00 | 628.00 | 841.00 | 719.00 | 822.00 |
| Changes in inventories | -9.00 | -50.00 | 6.00 | -14.00 | 67.00 | 25.00 | -67.00 | 18.00 | 25.00 | -14.00 | 66.00 | -19.00 | -8.00 | -69.00 | -10.00 | 28.00 |
| Employee benefit expense | 12,978.00 | 13,474.00 | 14,163.00 | 14,665.00 | 15,014.00 | 15,253.00 | 15,862.00 | 16,351.00 | 16,410.00 | 16,523.00 | 16,576.00 | 17,598.00 | 18,301.00 | 18,867.00 | 19,377.00 | 19,692.00 |
| Finance costs | 64.00 | 79.00 | 116.00 | 94.00 | 86.00 | 156.00 | 140.00 | 171.00 | 191.00 | 131.00 | 166.00 | 209.00 | 215.00 | 205.00 | 240.00 | 84.00 |
| Depreciation and amortisation | 983.00 | 998.00 | 1,137.00 | 1,027.00 | 927.00 | 1,010.00 | 1,143.00 | 1,093.00 | 998.00 | 1,007.00 | 1,039.00 | 1,093.00 | 1,043.00 | 1,127.00 | 1,092.00 | 1,039.00 |
| Other expenses | 5,165.00 | 5,345.00 | 5,518.00 | 5,515.00 | 5,382.00 | 5,088.00 | 5,447.00 | 5,521.00 | 5,425.00 | 5,504.00 | 5,810.00 | 6,208.00 | 6,476.00 | 6,821.00 | 7,183.00 | 7,167.00 |
| Total expenses | 19,536.00 | 20,338.00 | 21,588.00 | 21,864.00 | 21,944.00 | 21,909.00 | 22,942.00 | 23,646.00 | 23,453.00 | 23,631.00 | 24,235.00 | 25,616.00 | 26,655.00 | 27,792.00 | 28,601.00 | 28,832.00 |
| Profit before exceptional items and tax | 4,337.00 | 4,584.00 | 5,372.00 | 5,195.00 | 4,696.00 | 5,128.00 | 5,874.00 | 5,269.00 | 5,707.00 | 5,687.00 | 6,132.00 | 5,189.00 | 5,702.00 | 6,465.00 | 5,702.00 | 6,108.00 |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -956.00 | 0.00 | 0.00 |
| Profit before tax | 4,337.00 | 4,584.00 | 5,372.00 | 5,195.00 | 4,696.00 | 5,128.00 | 5,874.00 | 5,269.00 | 5,707.00 | 5,687.00 | 6,132.00 | 5,189.00 | 5,702.00 | 5,509.00 | 5,702.00 | 6,108.00 |
| Current tax | 1,030.00 | 1,136.00 | 1,263.00 | 1,236.00 | 1,117.00 | 1,156.00 | 1,348.00 | 1,005.00 | 1,252.00 | 1,191.00 | 1,229.00 | 1,281.00 | 1,389.00 | 1,376.00 | 1,059.00 | 1,535.00 |
| Deferred tax | 26.00 | -39.00 | 13.00 | -22.00 | 48.00 | 139.00 | 175.00 | 269.00 | 196.00 | 259.00 | 309.00 | 64.00 | 77.00 | 51.00 | 153.00 | -53.00 |
| Tax expense | 1,056.00 | 1,097.00 | 1,276.00 | 1,214.00 | 1,165.00 | 1,295.00 | 1,523.00 | 1,274.00 | 1,448.00 | 1,450.00 | 1,538.00 | 1,345.00 | 1,466.00 | 1,427.00 | 1,212.00 | 1,482.00 |
| Profit for the period | 3,281.00 | 3,487.00 | 4,096.00 | 3,981.00 | 3,531.00 | 3,833.00 | 4,351.00 | 3,995.00 | 4,259.00 | 4,237.00 | 4,594.00 | 3,844.00 | 4,236.00 | 4,082.00 | 4,490.00 | 4,626.00 |
| Profit attributable to owners | 3,283.00 | 3,489.00 | 4,096.00 | 3,983.00 | 3,534.00 | 3,832.00 | 4,350.00 | 0.00 | 4,257.00 | 4,235.00 | 4,591.00 | 3,843.00 | 4,235.00 | 4,076.00 | 4,488.00 | 4,624.00 |
| Profit attributable to non-controlling interests | -2.00 | -2.00 | 0.00 | -2.00 | -3.00 | 1.00 | 1.00 | 0.00 | 2.00 | 2.00 | 3.00 | 1.00 | 1.00 | 6.00 | 2.00 | 2.00 |
| Other comprehensive income | 41.00 | -81.00 | 1,153.00 | 188.00 | 290.00 | 34.00 | 600.00 | -69.00 | -29.00 | 556.00 | -414.00 | 1,213.00 | 946.00 | 634.00 | 916.00 | 65.00 |
| Total comprehensive income | 3,322.00 | 3,406.00 | 5,249.00 | 4,169.00 | 3,821.00 | 3,867.00 | 4,951.00 | 3,926.00 | 4,230.00 | 4,793.00 | 4,180.00 | 5,057.00 | 5,182.00 | 4,716.00 | 5,406.00 | 4,691.00 |
| Earnings per share, basic | 12.13 | 12.89 | 15.13 | 14.71 | 13.05 | 14.15 | 16.06 | 14.72 | 15.70 | 15.62 | 16.94 | 14.18 | 15.63 | 15.06 | 16.59 | 17.09 |
| Earnings per share, diluted | 12.12 | 12.88 | 15.11 | 14.69 | 13.03 | 14.13 | 16.03 | 14.69 | 15.69 | 15.61 | 16.93 | 14.17 | 15.61 | 15.05 | 16.56 | 17.06 |
Annual results, as filed
| Line | 2018-03-31 | 2020-03-31 | 2021-03-31 | 2022-03-31 | 2023-03-31 | 2024-03-31 | 2026-03-31 |
|---|---|---|---|---|---|---|---|
| Revenue from operations | 50,569.00 | 70,676.00 | 75,379.00 | 85,651.00 | 101,456.00 | 109,913.00 | 130,144.00 |
| Other income | 1,217.00 | 589.00 | 927.00 | 1,067.00 | 1,358.00 | 1,495.00 | 1,530.00 |
| Total income | 51,786.00 | 71,265.00 | 76,306.00 | 86,718.00 | 102,814.00 | 111,408.00 | 131,674.00 |
| Cost of materials consumed | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Purchases of stock-in-trade | 1,251.00 | 1,536.00 | 1,698.00 | 1,473.00 | 2,072.00 | 1,754.00 | 2,715.00 |
| Changes in inventories | 104.00 | 0.00 | -3.00 | -67.00 | -67.00 | 43.00 | -106.00 |
| Employee benefit expense | 24,729.00 | 34,928.00 | 38,853.00 | 46,130.00 | 55,280.00 | 62,480.00 | 74,143.00 |
| Finance costs | 69.00 | 505.00 | 511.00 | 319.00 | 353.00 | 553.00 | 869.00 |
| Depreciation and amortisation | 1,383.00 | 3,420.00 | 4,611.00 | 4,326.00 | 4,145.00 | 4,173.00 | 4,355.00 |
| Other expenses | 13,239.00 | 16,896.00 | 14,783.00 | 17,585.00 | 21,543.00 | 21,438.00 | 26,640.00 |
| Total expenses | 40,775.00 | 57,285.00 | 60,453.00 | 69,766.00 | 83,326.00 | 90,441.00 | 108,616.00 |
| Profit before exceptional items and tax | 11,011.00 | 13,980.00 | 15,853.00 | 16,952.00 | 19,488.00 | 20,967.00 | 23,058.00 |
| Exceptional items | 0.00 | 0.00 | 0.00 | -1.00 | 0.00 | 0.00 | -956.00 |
| Profit before tax | 11,011.00 | 13,980.00 | 15,853.00 | 16,951.00 | 19,488.00 | 20,967.00 | 22,102.00 |
| Current tax | 2,386.00 | 2,821.00 | 3,719.00 | 3,442.00 | 4,665.00 | 4,626.00 | 5,105.00 |
| Deferred tax | -84.00 | 102.00 | 965.00 | -14.00 | -22.00 | 631.00 | 345.00 |
| Tax expense | 2,302.00 | 2,923.00 | 4,684.00 | 3,428.00 | 4,643.00 | 5,257.00 | 5,450.00 |
| Profit for the period | 8,722.00 | 11,057.00 | 11,169.00 | 13,523.00 | 14,845.00 | 15,710.00 | 16,652.00 |
| Profit attributable to owners | 8,721.00 | 11,057.00 | 11,145.00 | 13,499.00 | 14,851.00 | 0.00 | 16,642.00 |
| Profit attributable to non-controlling interests | 1.00 | 0.00 | 24.00 | 24.00 | -6.00 | 0.00 | 10.00 |
| Other comprehensive income | 260.00 | 479.00 | 758.00 | 757.00 | 1,301.00 | 855.00 | 3,709.00 |
| Total comprehensive income | 8,982.00 | 11,536.00 | 11,927.00 | 14,280.00 | 16,146.00 | 16,565.00 | 20,361.00 |
| Earnings per share, basic | 62.23 | 40.75 | 41.07 | 49.77 | 54.85 | 57.99 | 61.46 |
| Earnings per share, diluted | 62.19 | 40.75 | 41.07 | 49.77 | 54.79 | 57.86 | 61.36 |
Balance sheet, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|
| Total assets | 88,515.00 | 93,411.00 | 93,579.00 | 99,777.00 | 99,763.00 | 108,573.00 | 116,258.00 |
| Non-current assets | 40,344.00 | 39,834.00 | 40,577.00 | 40,446.00 | 40,621.00 | 42,449.00 | 45,716.00 |
| Current assets | 48,171.00 | 53,577.00 | 53,002.00 | 59,331.00 | 59,142.00 | 66,124.00 | 70,542.00 |
| Property, plant and equipment | 5,434.00 | 5,371.00 | 5,257.00 | 4,891.00 | 4,596.00 | 4,532.00 | 4,657.00 |
| Capital work-in-progress | 97.00 | 40.00 | 56.00 | 108.00 | 172.00 | 106.00 | 60.00 |
| Goodwill | 18,069.00 | 18,567.00 | 19,947.00 | 20,132.00 | 20,690.00 | 22,788.00 | 23,888.00 |
| Other intangible assets | 11,519.00 | 10,681.00 | 8,061.00 | 10,040.00 | 6,431.00 | 6,046.00 | 5,160.00 |
| Inventories | 220.00 | 228.00 | 136.00 | 185.00 | 174.00 | 160.00 | 239.00 |
| Trade receivables | 24,110.00 | 25,506.00 | 23,656.00 | 25,521.00 | 24,545.00 | 26,910.00 | 31,541.00 |
| Cash and cash equivalents | 6,810.00 | 9,065.00 | 8,074.00 | 9,456.00 | 9,404.00 | 9,488.00 | 8,265.00 |
| Total equity and liabilities | 88,515.00 | 93,411.00 | 93,579.00 | 99,777.00 | 99,763.00 | 108,573.00 | 116,258.00 |
| Equity | 61,236.00 | 65,398.00 | 65,674.00 | 68,271.00 | 68,887.00 | 71,271.00 | 75,197.00 |
| Equity share capital | 543.00 | 543.00 | 543.00 | 543.00 | 543.00 | 543.00 | 543.00 |
| Other equity | 60,698.00 | 64,862.00 | 65,140.00 | 67,720.00 | 68,332.00 | 70,706.00 | 74,622.00 |
| Total liabilities | 27,279.00 | 28,013.00 | 27,905.00 | 31,506.00 | 30,876.00 | 37,302.00 | 41,061.00 |
| Non-current liabilities | 8,535.00 | 6,582.00 | 7,220.00 | 8,780.00 | 9,250.00 | 8,462.00 | 9,235.00 |
| Current liabilities | 18,744.00 | 21,431.00 | 20,685.00 | 22,726.00 | 21,626.00 | 28,840.00 | 31,826.00 |
| Borrowings, non-current | 4,120.00 | 2,111.00 | 2,247.00 | 2,223.00 | 2,210.00 | 56.00 | 37.00 |
| Borrowings, current | 146.00 | 140.00 | 156.00 | 104.00 | 87.00 | 2,303.00 | 122.00 |
| Trade payables | 6,382.00 | 6,428.00 | 5,893.00 | 5,853.00 | 5,457.00 | 6,721.00 | 7,706.00 |
Cash flow, as filed
| Line | 2022-03-31 | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Net cash from operating activities | 16,900.00 | 5,697.00 | 18,009.00 | 10,798.00 | 22,448.00 | 9,349.00 | 9,608.00 | 19,975.00 |
| Net cash from investing activities | 1,477.00 | -1,378.00 | -3,931.00 | -3,609.00 | -6,723.00 | -258.00 | 787.00 | -1,473.00 |
| Net cash from financing activities | -14,508.00 | -8,051.00 | -15,881.00 | -8,223.00 | -15,464.00 | -9,327.00 | -9,694.00 | -19,369.00 |
| Purchase of property, plant and equipment | 1,645.00 | 925.00 | 1,661.00 | 567.00 | 1,048.00 | 628.00 | 784.00 | 1,422.00 |
| Net increase in cash | 3,989.00 | -3,701.00 | -1,445.00 | -1,005.00 | 376.00 | -51.00 | 1,243.00 | -50.00 |
| con:CFO.BEFORE_TAX | 20,343.00 | 7,611.00 | 21,707.00 | 12,455.00 | 26,660.00 | 11,416.00 | 11,638.00 | 24,051.00 |
| con:INTEREST_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INTEREST_PAID.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:DIVIDENDS_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:TAX_PAID.OPERATING | 3,443.00 | 1,715.00 | 3,698.00 | 1,581.00 | 4,212.00 | 2,067.00 | 2,030.00 | 4,076.00 |
| con:CF_OTHER.OPERATING | 0.00 | -199.00 | 0.00 | -76.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_PURCHASED | 32,575.00 | 18,266.00 | 34,620.00 | 19,558.00 | 41,682.00 | 19,948.00 | 23,342.00 | 48,693.00 |
| con:INVESTMENTS_SOLD | 33,215.00 | 19,444.00 | 35,626.00 | 19,640.00 | 40,342.00 | 19,460.00 | 24,636.00 | 49,369.00 |
| con:PPE_DISPOSALS | 90.00 | 202.00 | 217.00 | 20.00 | 32.00 | 14.00 | 8.00 | 23.00 |
| con:CF_INVESTING.SUBSIDIARIES_SOLD | 0.00 | 0.00 | 9.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.SUBSIDIARIES_ACQUIRED | 0.00 | 699.00 | 706.00 | 2,043.00 | 2,043.00 | 211.00 | 0.00 | 159.00 |
| con:CF_INVESTING.JV_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Who owns it
The shareholding pattern filed with the exchange every quarter, as a series. Percentages are of total shares. Each figure names the filing it was read from and the date it was filed.
| Holder | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoter and promoter group | 60.81 | 60.81 | 60.81 | 60.81 | 60.81 | 60.81 | 60.81 | 60.81 | 60.81 | 60.81 | 0.61 | 0.61 | 0.61 | 0.61 |
| Domestic institutions | 15.31 | 15.37 | 15.65 | 15.15 | 14.99 | 15.80 | 15.81 | 15.24 | 15.48 | 16.21 | 0.18 | 0.18 | 0.19 | 0.19 |
| Mutual funds | — | — | — | — | — | — | — | — | — | 8.44 | 0.09 | 0.09 | 0.09 | 0.09 |
| Insurance companies | 6.31 | 6.53 | 6.44 | 5.95 | 6.01 | 6.31 | 6.24 | 5.90 | 6.03 | 6.75 | 0.08 | 0.08 | 0.08 | 0.08 |
| Foreign institutions | 18.92 | 18.98 | 18.80 | 19.42 | 19.65 | 18.45 | 18.67 | 19.38 | 19.14 | 18.56 | 0.17 | 0.16 | 0.16 | 0.15 |
| Government | — | — | — | — | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Public | 38.95 | 38.96 | 38.97 | 38.98 | 38.98 | 38.91 | 39.00 | 39.06 | 39.01 | 39.02 | 0.39 | 0.39 | 0.39 | 0.39 |
| Non-institutional | 4.72 | 4.61 | 4.52 | 4.40 | 4.34 | 4.66 | 4.53 | 4.44 | 4.38 | 4.25 | 0.04 | 0.04 | 0.04 | 0.05 |
| Shares outstanding | 2713665096 | 2713665096 | 2713665096 | 2713665096 | 2713665096 | 2713665096 | 2713665096 | 2713665096 | 2713665096 | 2713665096 | 2713665096 | 2713665096 | 2713665096 | 2713665096 |
Related parties
Transactions with related parties as disclosed to the exchange for the period ending 2024-09-30, by counterparty, largest first. Amounts are as filed. Each row names the filing and the date it was filed.
| Counterparty | Relationship | Type | Amount in the period | Transactions |
|---|---|---|---|---|
| HCL Technologies Corporate Services Limited | Subsidiary of Ultimate parent comp | Any other transaction, Purchase of goods or services | 247,987,300,000.00 | 75 |
| Vama Sundari Investments (Delhi) Private Limited | Significant influence | Any other transaction, Dividend paid | 35,956,500,000.00 | 2 |
| HCL America Inc. | Subsidiary of Ultimate parent comp | Any other transaction, Loan, Purchase of goods or se | 27,214,200,000.00 | 84 |
| HCL Investments (UK) Limited | Subsidiary of Ultimate parent comp | Any other transaction, Dividend received, Loan, Sale | 19,860,900,000.00 | 5 |
| Axon Group Limited | Subsidiary of Ultimate parent comp | Any other transaction, Dividend received | 18,809,200,000.00 | 4 |
| Axon Solutions Limited | Subsidiary of Ultimate parent comp | Any other transaction, Dividend received | 18,693,600,000.00 | 4 |
| HCL Technologies UK Limited | Subsidiary of Ultimate parent comp | Any other transaction, Loan, Purchase of goods or se | 17,351,600,000.00 | 60 |
| HCL Holdings Private Limited | Significant influence | Dividend paid | 13,399,900,000.00 | 1 |
| HCL Technologies Germany GmbH | Subsidiary of Ultimate parent comp | Any other transaction, Purchase of goods or services | 12,239,000,000.00 | 47 |
| HCL Technologies Sweden AB | Subsidiary of Ultimate parent comp | Any other transaction, Dividend received, Purchase o | 10,909,500,000.00 | 40 |
| HCL Software Products Limited | Subsidiary of Ultimate parent comp | Any other transaction, Purchase of goods or services | 10,888,200,000.00 | 5 |
| HCL Technologies B.V. | Subsidiary of Ultimate parent comp | Any other transaction, Purchase of goods or services | 6,097,400,000.00 | 26 |
| HCL Australia Services Pty. Limited | Subsidiary of Ultimate parent comp | Any other transaction, Loan, Purchase of goods or se | 4,503,600,000.00 | 38 |
| HCL Canada Inc. | Subsidiary of Ultimate parent comp | Any other transaction, Purchase of goods or services | 4,481,800,000.00 | 22 |
| HCL Technologies Denmark Aps | Subsidiary of Ultimate parent comp | Any other transaction, Purchase of goods or services | 4,335,200,000.00 | 32 |
What management said
Every earnings call we hold for this company, read in full. Prepared remarks are separated from the question-and-answer session and every paragraph names who said it and on which page. These are management’s own words, not filed figures.
| Date | Quarter | Who spoke | |
|---|---|---|---|
| 2026-07-15 | Q1FY27 | Read the call | |
| 2026-04-24 | Q4FY26 | Read the call | |
| 2026-01-16 | Q3FY26 | Read the call | |
| 2025-04-25 | Q4FY25 | Read the call | |
| 2025-01-15 | Q3FY25 | Read the call | |
| 2024-10-18 | Q2FY25 | Read the call | |
| 2024-07-17 | Q1FY25 | Read the call | |
| 2024-04-30 | Q4FY24 | MANAGING, TECHNOLOGIES | Read the call |
| 2024-01-16 | Q3FY24 | Read the call | |
| 2023-10-17 | Q2FY24 | OFFICER, HCL TECHNOLOGIES LIMITED, OFFICER, HCLSOFTWARE, RELATIONS, HCL TECHNOLOGIES LIMIT | Read the call |
| 2023-07-18 | Q1FY24 | Read the call | |
| 2023-04-25 | Q4FY23 | GLOBAL, OFFICER, HCL TECHNOLOGIES LIMITED, RELATIONS, HCL TECHNOLOGIES LIMITED, SRINIVASAN | Read the call |
| 2023-01-17 | Q3FY23 | GLOBAL, OFFICER, HCL TECHNOLOGIES LIMITED, RELATIONS), HCL TECHNOLOGIES LIMITED, SRINIVASA | Read the call |
| 2022-10-17 | Q2FY23 | CORPORATE, RELATIONS, HCL TECHNOLOGIES LIMITED, SANJAY, TECHNOLOGIES, –HEAD, | Read the call |
| 2022-07-18 | Q1FY23 | OFFICER, HCL TECHNOLOGIES LIMITED, RELATIONS, HCL TECHNOLOGIES LIMITED | Read the call |
| 2022-05-09 | Q4FY22 | & MANAGING DIRECTOR, OFFICER | Read the call |
| 2022-04-25 | Q4FY22 | & MANAGING DIRECTOR, OFFICER | Read the call |
What they said about it, quarter by quarter
| Topic | Q3FY24 | Q3FY25 | Q3FY26 | Q4FY22 | Q4FY23 | Q4FY24 | Q4FY25 | Q4FY26 |
|---|---|---|---|---|---|---|---|---|
| Capex | — | — | They continue to expand as their capex spend is expanding. | And there is not too much of a CAPEX plan or there isn't any acquisition plan of any reasonable size. | — | — | — | — |
| Capital allocation | You've done the ASAP acquisition, but why should a customer come to you compared to going to a pure play auto ER&D player like a KPIT or a Tata Tech? | Similarly, we had a solid 4% quarter-on-quarter growth in CC in our Telecom and Media business, attributed to the closing of HPE CTG acquisition and a… | — | — | — | And one last thing sir, on the software products, that was up 5% year-on-year last quarter, but now we are flat year-on-year, and you did speak about … | But there will be practically a nine-month impact or eight-month impact in next year of this acquisition. | — |
| Costs | — | — | — | — | — | — | Do you think the cost pressures will kind of put a little bit of a break on the GCC expansion story? | — |
| Debt and cash | — | Over the last 12 months, operating cash flow is at 285 billion, while free cash flow amounted to 2.72 billion. | — | — | — | — | — | — |
| Demand | So taking on that momentum, how do you see the overall demand environment and the macro playing out? | Our pipeline continues to grow and remain strong and is getting closer to an all-time high. | There is a very strong demand for data intelligence portfolio. | So, it's a model based on a number of factors and the pipeline win, the book that we have, all of that. | And Europe is also showing good signs right now, the pipeline despite what the macroeconomics might be is showing good signs. | We do hope there are a lot of good pipelines and we do hope to sign mega deals this year as well given the overall pipeline and some extent it will co… | And obviously the midpoint also we assume that the environment will deteriorate, but it assumes that a couple of large deals, which were in the pipeli… | Then should we think about this then being low to mid-single digits being equivalent to high single digits given the demand or the lack of growth in t… |
| Guidance | We have growth this quarter and we expect to have decent growth in the coming quarter as well. | In 2025, we expect companies to increase their IT investments. | And we expect the similar kind of impact in Q4 also. | Just the first question in terms of guidance, which is roughly 12% to 14% in constant currency. | I wanted to know the 6% to 8% guidance you’ve given. | Is it materially different than what you have seen in the last 2-3 years, which is why you are calling it out and having kind of an impact on your gui… | Thanks for the opportunity, and congrats on good guidance for next year. | And if I could just squeeze in one more on the guidance front, how much of the guidance softness comes from geopolitical pressures and how much of it … |
| Margin | So should we think about this as a medium-term margin lever overall for the firm? | HCLSoftware, while I talked about the revenue and margin performance, in terms of directionally software defined Services, also called a software-as-a… | ER&D has shown very good growth; the sequential margin drop seems to be a bit surprising. | It is a factor which is 5% plus and if you look at our EBITDA numbers they are not reflective of the EBIT of 18.9%. | On the margin side, what do you think are going to be the key headwinds in FY24? | On the margins, of course our aspiration continues to remain 19% to 20% is our aspirational margin range, this year we are forecasting it to be 18% to… | So what is fundamentally changing in terms of your software business for it to start growing at par with Services and also improve margin? | — |
| People | First of all, the bookkeeping question, if you could help us understand what was the headcount due to the Verizon deal for the people takeover transac… | — | — | — | So, obviously, when customers ramp down or there are certain costs that we continue to carry, and we have various ways to redeploy and attrition backf… | I do think that is the time when the fresher hiring will again pick up and that will continue to create a tailwind for margins. | I think if you see this year FY'25, revenue grew in Services 4.8% and headcount declined roughly 2%. | We have been hiring a lot more lateral talent on this front in the last maybe a year or so. |
| Pricing | Both price realization and the whole renewal subscription model are working well. | — | — | Will pricing be acting as a tailwind this year? | — | I think software vendors are able to get away with the significant price increase which customers are left with no option, but to kind of agree to thi… | — | In renewal deals, we were seeing 10% to 15% cut in pricing over the life of the deal, which would translate to more or less 3% to 5%. |
| Revenue growth | — | This growth was also broad based, but the strong double- digit quarter-on-quarter growth was a function of a large project execution which got complet… | — | MR. SHRIKANTH SHETTY – CHIEF GROWTH OFFICER, AMERICAS, LIFE SCIENCES AND HEALTHCARE INDUSTRIES MR. ANAND BIRJE – PRESIDENT, DIGITAL BUSINESS SERVICES … | — | The second question is on your medium-term outlook of margins of 20% on the upper band that you had shared in the past, what kind of revenue growth is… | — | You would have noticed this would be the first time in recent years that the total revenue growth is half a percent below the Services revenue growth. |