Delivers IT and business services, engineering and R&D services, and proprietary software products to enterprise clients globally. The IT and Business Services segment reported ₹96,095 cr in FY26, the Engineering and R&D Services segment reported ₹22,063 cr, and the HCL Software segment reported ₹12,397 cr. Total FY26 revenue stood at ₹130,144 cr, up 11.18% YoY, with net profit of ₹16,652 cr. The largest cost is people — employee cost of ₹74,143 cr was 57% of FY26 revenue — followed by other operating expenses of ₹26,640 cr (20.5%) and depreciation of ₹4,355 cr (3.3%). Q1 FY27 saw Advanced AI revenue grow 62% YoY to $171 million, AI Force deployed across 92 client accounts, and record Q1 net new TCV bookings of $2.4 billion. The board approved a new AI datacenter business with up to ₹3,500 crore initial investment and a long-term 50MW capacity plan, including a ₹14,257 crore AI Data Center announced in Bhubaneswar. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. IT and Business Services, Engineering and R&D Services, HCL Software. Asset-light, people-driven IT services with growing AI and data-center build-out
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 85,651 | 1,01,456 | 1,09,913 | 1,17,055 | 1,30,144 |
| EBITDA (ex other income) | 20,529 | 22,628 | 24,198 | 25,504 | 25,796 |
| margin % | 24.0 | 22.3 | 22.0 | 21.8 | 19.8 |
| Owners' profit | 13,499 | 14,851 | 0 | 17,390 | 16,642 |
| EPS, as reported (₹) | 49.77 | 54.85 | 57.99 | 64.16 | 61.46 |
| ROE % · ROCE % | 21.8 · 24.6 | 22.7 · 27.6 | 23.0 · 27.9 | 25.0 · 30.8 | 22.1 · 27.2 |
| Debt / equity (x) | 0.06 | 0.03 | 0.03 | 0.03 | 0.00 |
| Cash from operations | 16,900 | 18,009 | 22,448 | 22,261 | 19,975 |
| Capex | (1,645) | (1,661) | (1,048) | (1,108) | (1,422) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 28,862 | 29,890 | 30,246 | 30,349 | 31,942 | 33,872 | 33,981 | 34,579 |
| Profit before tax | 5,687 | 6,132 | 5,735 | 5,189 | 5,702 | 5,509 | 5,702 | 6,108 |
| Net profit | 4,237 | 4,594 | 4,309 | 3,844 | 4,236 | 4,082 | 4,490 | 4,626 |
| EPS (₹) | 15.62 | 16.94 | 15.90 | 14.18 | 15.63 | 15.06 | 16.59 | 17.09 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| IT and Business Services | 96,095 | 73.6 |
| Engineering and R&D Services | 5,787 | 4.4 |
| HCL Software | 12,397 | 9.5 |
| Engineering and R&D services | 11,102 | 8.5 |
| Engineering and R&D Services | 5,174 | 4.0 |
| Total, before eliminations | 1,30,555 | 100.0 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % |
|---|
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 8 Sept 2026 · HCLTech launches Rs 185 crore Advanced Semiconductor Lab in Bengaluru | capex operations | high | — | — |
| 3 Sept 2026 · HCLTech signs MoU with Transport for NSW on AI traffic solutions for India | strategic transactions | medium | — | — |
| 31 Aug 2026 · HCL Tech to participate in BofA and UBS investor conferences | board shareholder meetings | low | — | — |
| 27 Aug 2026 · WACKER sets up Global Capability Center in India with HCLTech | business updates | medium | — | — |
| 26 Aug 2026 · HCLTech sets sustainability benchmarks, hits 2030 emissions target four years early | compliance | low | — | — |
| 26 Aug 2026 · HCLTech releases FY26 sustainability report, beats 2030 emissions target early | compliance | low | — | — |
| 25 Aug 2026 · HCL Tech to participate in two investor conferences in September | board shareholder meetings | low | — | — |
| 17 Aug 2026 · HCLTech survey: 60% of telecom leaders see AI as top revenue driver | business updates | medium | — | — |
| 13 Aug 2026 · HCLTech and NetApp expand partnership for hybrid cloud AI storage | strategic transactions | medium | — | — |
| 12 Aug 2026 · HCLTech 34th AGM outcome: All 3 resolutions passed with over 99 percent approval | board shareholder meetings | medium | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| Rev CAGR 5y % |
|---|
| EBITDA m. % |
|---|
| TATA CONSULTANCY SERV LT | 7,96,690 | 16.0 | 7.34 | 10.9 | 45.6 | 53.9 | 10.2 | 26.9 |
| INFOSYS LIMITED | 4,20,891 | 14.0 | 4.51 | 8.8 | 31.6 | 38.6 | 12.2 | 25.7 |
| HCL TECHNOLOGIES LTD ◆ | 3,27,456 | 18.7 | 4.35 | 11.7 | 22.1 | 26.2 | 11.5 | 20.9 |
| WIPRO LTD | 1,65,785 | 13.3 | 1.88 | 7.9 | 15.0 | 17.1 | 8.4 | 22.9 |
| TECH MAHINDRA LIMITED | 1,51,018 | 26.6 | 5.02 | 16.9 | 16.0 | 18.8 | 8.5 | 16.8 |
| LTM LIMITED | 1,27,635 | 24.4 | 5.29 | 15.4 | 20.7 | 24.8 | 27.9 | 20.0 |
| PERSISTENT SYSTEMS LTD | 87,015 | 44.8 | 11.10 | 29.8 | 23.8 | 28.5 | 28.6 | 17.8 |
| COFORGE LIMITED | 81,708 | 37.5 | 8.44 | 29.1 | 18.0 | 17.2 | 28.6 | 18.6 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 18.7 | 16.6 | 40 of 71 | 44% |
| P/B | 4.3 | 2.9 | 44 of 64 | 32% |
| ROCE | 26.2 | 14.2 | 8 of 78 | 91% |
| ROE | 22.1 | 11.5 | 7 of 67 | 91% |
| Debt / Equity | 0.0 | 0.0 | 28 of 68 | 60% |
| EBITDA margin | 20.9 | 18.4 | 24 of 65 | 64% |
| Revenue growth | 13.9 | 10.6 | 27 of 63 | 58% |
| Profit growth | 20.3 | 6.7 | 19 of 62 | 71% |
| Market cap | 327456 | 475 | 3 of 75 | 97% |
| A rating (BUY / ADD / REDUCE / SELL) |
| A state: the latest filed quarter and the measured reactions |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
