HCL Tech.

₹1066.1 -15.2 | 1.4%

WEBSITE BSE:532281 NSE : HCL TECHNO 23 Mar, 16:01

Market Cap ₹289290 Cr.

Stock P/E 20.0

P/B 4.4

Current Price ₹1066.1

Book Value ₹ 240.8

Face Value 2

52W High ₹1203

Dividend Yield 3.94%

52W Low ₹ 875.7

Edit Ratio

HCL Tech. Research see more...

HCL Technologies Ltd.

Equity Research Report - HCL Technologies Limited

Overview Inc. Year: 1991Industry: IT - Software

HCL Technologies Limited is an primarily India-based technology company. The Company gives its services and products via 3 enterprise segments: IT and Business Services (ITBS), Engineering and R&D Services (ERS) and Products & Platforms (P&P). ITBS phase provides a portfolio of IT and commercial enterprise services, along with software, infrastructure and digital procedure operations and virtual transformation offerings enabled by way of virtual and analytics, IoTWoRKs, cloud native and cybersecurity solutions together with merchandise developed within those corporations. ERS section gives engineering offerings and solutions across software program, embedded, mechanical, very large-scale integration (VLSI) and platform engineering that support the end-to-end lifecycle of merchandise, inclusive of both hardware and software program across various industries. P&P section offers modernized software program products to global customers for their technology and industry-precise necessities.

Quarterly Price

Quarterly Monthly

Show Value Show %

Peer Comparison

HCL Tech. Quarterly Results

#(Fig in Cr.)	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022
Net Sales	18594	19302	19641	20068	20655	22331	22597	23464	24686	26700
Other Income	199	189	244	255	240	255	317	409	236	260
Total Income	18793	19491	19885	20323	20895	22586	22914	23873	24922	26960
Total Expenditure	13476	13678	15092	15006	15633	16938	17544	18489	19261	20335
Operating Profit	5317	5813	4793	5317	5262	5648	5370	5384	5661	6625
Interest	80	147	159	89	83	82	65	64	79	116
Depreciation	1092	1187	1267	1128	1078	1136	984	983	998	1137
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	4145	4479	3367	4100	4101	4430	4321	4337	4584	5372
Provision for Tax	999	502	2256	887	838	982	721	1056	1097	1276
Profit After Tax	3146	3977	1111	3213	3263	3448	3600	3281	3487	4096
Adjustments	-3	-8	-9	-8	-4	-6	-7	2	2	0
Profit After Adjustments	3143	3969	1102	3205	3259	3442	3593	3283	3489	4096
Adjusted Earnings Per Share	11.6	14.6	4.1	11.8	12	12.7	13.2	12.1	12.9	15.1

HCL Tech. Profit & Loss

#(Fig in Cr.)	Jun 2012	Jun 2013	Jun 2014	Jun 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	TTM
Net Sales	20831	25581	32144	36701	31136	47568	50569	60427	70676	75379	85651	97447
Other Income	208	358	678	1140	866	1078	1224	953	619	950	1071	1222
Total Income	21038	25939	32822	37842	32002	48646	51793	61380	71295	76329	86722	98669
Total Expenditure	17137	19927	24109	28230	24482	37189	39330	46511	53390	55354	65125	75629
Operating Profit	3902	6012	8713	9612	7520	11457	12463	14869	17905	20975	21597	23040
Interest	143	106	115	91	74	89	69	174	505	511	319	324
Depreciation	549	637	681	404	410	828	1383	2073	3420	4611	4326	4102
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	3210	5270	7917	9117	7041	10540	11024	12622	13980	15853	16951	18614
Provision for Tax	783	1225	1410	1815	1439	1936	2302	2502	2923	4684	3428	4150
Profit After Tax	2427	4045	6508	7302	5602	8604	8722	10120	11057	11169	13523	14464
Adjustments	-4	-4	2	15	1	2	-1	0	0	-24	-24	-3
Profit After Adjustments	2423	4040	6510	7317	5602	8606	8721	10120	11057	11145	13499	14461
Adjusted Earnings Per Share	8.7	14.5	23.2	26	19.9	30.2	31.4	37.3	40.7	41	49.7	53.3

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	14%	12%	12%	15%
Operating Profit CAGR	3%	13%	14%	19%
PAT CAGR	21%	10%	9%	19%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	-10%	37%	17%	19%
ROE Average	22%	22%	23%	28%
ROCE Average	27%	27%	29%	33%

HCL Tech. Balance Sheet

#(Fig in Cr.)	Jun 2012	Jun 2013	Jun 2014	Jun 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Shareholder's Funds	9838	13164	19550	24224	27391	32949	36386	41366	51267	59913	61914
Minority's Interest	1	45	57	82	211	173	0	103	154	169	92
Borrowings	1077	797	201	168	737	383	338	2977	2848	3828	3923
Other Non-Current Liabilities	207	178	115	36	-638	-730	-645	-625	2590	3720	3153
Total Current Liabilities	8358	10170	13258	15676	9828	11335	10107	12299	23730	17383	18775
Total Liabilities	19481	24354	33181	40186	37530	44110	46186	56120	80589	85013	87857
Fixed Assets	6453	6753	7444	8275	9716	15235	18753	22888	37490	37145	35077
Other Non-Current Assets	2128	2271	2391	3133	2832	2412	2875	3510	4679	4817	4739
Total Current Assets	10900	15330	23346	28778	24982	26463	24558	29722	38420	43051	48041
Total Assets	19481	24354	33181	40186	37530	44110	46186	56120	80589	85013	87857

HCL Tech. Cash Flow

#(Fig in Cr.)	Jun 2012	Jun 2013	Jun 2014	Jun 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Opening Cash & Cash Equivalents	524	677	721	1027	1356	733	1321	1657	5901	3760	6521
Cash Flow from Operating Activities	2553	4492	6457	5539	3823	8995	8328	8971	13359	19618	16900
Cash Flow from Investing Activities	-1026	-2354	-4840	-2014	-2189	-3833	-2283	-3073	-12374	-5730	1477
Cash Flow from Financing Activities	-1239	-2086	-1308	-3140	-2237	-4517	-5714	-1471	-3168	-11192	-14508
Net Cash Inflow / Outflow	288	52	309	385	-603	645	331	4427	-2183	2696	3869
Closing Cash & Cash Equivalent	677	721	1027	1339	733	1321	1699	5901	3760	6521	10510

HCL Tech. Ratios

#	Jun 2012	Jun 2013	Jun 2014	Jun 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Earnings Per Share (Rs)	8.74	14.49	23.25	26.02	19.86	30.2	31.37	37.34	40.73	41.05	49.72
CEPS(Rs)	10.73	16.79	25.67	27.4	21.31	33.09	36.35	44.99	53.32	58.12	65.74
DPS(Rs)	12	12	10	30	16	24	12	8	10	10	42
Book NAV/Share(Rs)	34.52	46.44	69.05	85.72	96.97	115.54	130.84	152.62	188.83	220.67	227.74
Core EBITDA Margin(%)	17.73	22.1	25	23.08	21.37	21.82	22.23	23.03	24.46	26.57	23.96
EBIT Margin(%)	16.09	21.01	24.99	25.09	22.85	22.34	21.94	21.18	20.49	21.71	20.16
Pre Tax Margin(%)	15.41	20.6	24.63	24.84	22.61	22.16	21.8	20.89	19.78	21.03	19.79
PAT Margin (%)	11.65	15.81	20.25	19.9	17.99	18.09	17.25	16.75	15.64	14.82	15.79
Cash Profit Margin (%)	14.29	18.3	22.36	21	19.31	19.83	19.98	20.18	20.48	20.93	20.84
ROA(%)	14.25	18.45	22.62	19.91	14.42	21.08	19.32	19.78	16.18	13.49	15.65
ROE(%)	28.52	35.93	40.32	33.62	21.77	28.55	25.17	26.04	23.87	20.09	22.22
ROCE(%)	30.68	40.99	46.19	40.53	26.67	34.28	31.48	31.02	28.42	27.23	26.63
Receivable days	56.83	59.73	57.8	60.77	83.58	61.47	64.74	64.47	66.72	67.29	62.09
Inventory Days	3.44	3.27	2.01	1.39	2.47	2.07	1.62	0.79	0.47	0.45	0.54
Payable days	222.61	165.66	154.28	157.1	344.5	336.89	231.53	239.21	293.59	311.38	522.19
PER(x)	13.63	13.39	16.09	17.7	20.5	14.46	15.45	14.57	10.72	23.96	23.4
Price/Book(x)	3.45	4.18	5.42	5.37	4.2	3.78	3.7	3.56	2.31	4.46	5.11
Dividend Yield(%)	2.52	1.55	0.67	3.26	1.97	2.75	1.24	0.74	2.29	1.02	3.61
EV/Net Sales(x)	1.6	2.02	3.02	3.28	3.42	2.44	2.6	2.38	1.68	3.48	3.59
EV/Core EBITDA(x)	8.52	8.57	11.13	12.52	14.17	10.12	10.54	9.67	6.63	12.49	14.22
Net Sales Growth(%)	32.42	22.81	25.65	14.18	-15.16	52.78	6.31	19.49	16.96	6.65	13.63
EBIT Growth(%)	46.04	60.35	49.42	14.65	-22.74	49.4	4.37	15.35	13.2	12.97	5.54
PAT Growth(%)	47.4	66.64	60.9	12.2	-23.29	53.6	1.37	16.03	9.26	1.01	21.08
EPS Growth(%)	46.16	65.91	60.4	11.93	-23.67	52.04	3.89	19.04	9.06	0.8	21.12
Debt/Equity(x)	0.23	0.08	0.05	0.03	0.04	0.02	0.02	0.1	0.1	0.07	0.06
Current Ratio(x)	1.3	1.51	1.76	1.84	2.54	2.33	2.43	2.42	1.62	2.48	2.56
Quick Ratio(x)	1.28	1.49	1.75	1.83	2.52	2.31	2.41	2.41	1.62	2.47	2.55
Interest Cover(x)	23.5	50.89	70.15	100.93	96.27	119.43	160.77	73.54	28.68	32.02	54.14
Total Debt/Mcap(x)	0.07	0.02	0.01	0.01	0.01	0	0	0.03	0.04	0.01	0.01

HCL Tech. Shareholding Pattern

#	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022
Promoter	60.33	60.33	60.33	60.33	60.33	60.33	60.72	60.72	60.72	60.72
FII	24.92	24.92	24.14	23.22	22.3	20.43	18.97	17.91	17.17	18.29
DII	10.65	10.28	10.56	11.35	12.48	13.75	14.7	15.56	16.54	15.88
Public	4.09	4.46	4.97	5.09	4.88	5.48	5.62	5.82	5.57	5.12
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022
Promoter	163.72	163.72	163.72	163.72	163.72	163.72	164.76	164.76	164.76	164.76
FII	67.64	67.63	65.51	63.02	60.52	55.44	51.48	48.59	46.6	49.63
DII	28.91	27.9	28.66	30.81	33.88	37.32	39.89	42.22	44.88	43.08
Public	11.1	12.11	13.48	13.82	13.25	14.88	15.24	15.79	15.12	13.89
Others	0	0	0	0	0	0	0	0	0	0
Total	271.37	271.37	271.37	271.37	271.37	271.37	271.37	271.37	271.37	271.37