Financials HCL Technologies Limited

Equities

HCLTECH

INE860A01027

IT Services & Consulting

Market Closed - NSE India S.E. 07:43:55 2024-07-19 am EDT 5-day change 1st Jan Change
1,595 INR 0.00% Intraday chart for HCL Technologies Limited +5.47% +8.76%

Valuation

Fiscal Period: March 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 1,184,243 2,666,583 3,151,627 2,938,146 4,179,869 4,315,065 - -
Enterprise Value (EV) 1 1,119,721 2,549,528 2,969,664 2,759,766 3,965,499 4,055,880 4,003,843 3,972,656
P/E ratio 10.1 x 21.1 x 22.9 x 19.8 x 26.7 x 25.3 x 23 x 21 x
Yield 1.6% 1.02% 3.78% 4.42% 3.37% 3.39% 3.68% 4%
Capitalization / Revenue 1.57 x 3.49 x 3.6 x 2.9 x 3.8 x 3.72 x 3.41 x 3.13 x
EV / Revenue 1.49 x 3.34 x 3.39 x 2.72 x 3.61 x 3.5 x 3.16 x 2.88 x
EV / EBITDA 6.47 x 12.5 x 14.2 x 12.2 x 16.4 x 16 x 14.2 x 13.1 x
EV / FCF 9.98 x 14.5 x 19.1 x 16.9 x 18.5 x 24.3 x 21.9 x 19 x
FCF Yield 10% 6.88% 5.24% 5.92% 5.4% 4.12% 4.58% 5.26%
Price to Book 2.29 x 5.21 x 5.07 x 4.5 x - 6.23 x 6 x 5.83 x
Nbr of stocks (in thousands) 2,713,665 2,713,665 2,708,165 2,707,345 2,707,958 2,706,133 - -
Reference price 2 436.4 982.6 1,164 1,085 1,544 1,595 1,595 1,595
Announcement Date 5/7/20 4/23/21 4/21/22 4/20/23 4/26/24 - - -
1INR in Million2INR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2020 2021 2022 2023 2024 2025 2026 2027
Net sales 1 753,187 764,137 874,825 1,014,560 1,099,130 1,159,558 1,266,714 1,379,010
EBITDA 1 173,160 203,631 209,524 226,280 242,000 254,007 282,330 303,941
EBIT 1 138,960 163,211 165,314 184,830 200,270 212,046 237,232 259,063
Operating Margin 18.45% 21.36% 18.9% 18.22% 18.22% 18.29% 18.73% 18.79%
Earnings before Tax (EBT) 1 149,395 163,970 172,964 194,880 209,670 229,441 251,830 277,442
Net income 1 117,778 126,223 137,684 148,510 157,020 171,280 188,729 207,116
Net margin 15.64% 16.52% 15.74% 14.64% 14.29% 14.77% 14.9% 15.02%
EPS 2 43.21 46.51 50.76 54.79 57.86 62.95 69.27 75.80
Free Cash Flow 1 112,226 175,442 155,751 163,480 214,000 167,244 183,238 209,073
FCF margin 14.9% 22.96% 17.8% 16.11% 19.47% 14.42% 14.47% 15.16%
FCF Conversion (EBITDA) 64.81% 86.16% 74.34% 72.25% 88.43% 65.84% 64.9% 68.79%
FCF Conversion (Net income) 95.29% 138.99% 113.12% 110.08% 136.29% 97.64% 97.09% 100.94%
Dividend per Share 2 7.000 10.00 44.00 48.00 52.00 54.09 58.67 63.74
Announcement Date 5/7/20 4/23/21 4/21/22 4/20/23 4/26/24 - - -
1INR in Million2INR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2 2025 Q3 2025 Q4 2026 Q1 2026 Q2
Net sales 1 228,071 234,640 246,860 263,458 266,060 262,960 266,720 284,460 284,990 280,570 283,670 295,646 299,092 303,425 311,375
EBITDA 1 50,817 49,750 54,250 62,941 58,630 53,870 59,440 67,580 61,110 57,930 60,464 67,531 65,495 65,742 66,941
EBIT 1 40,911 39,920 44,270 51,652 48,360 44,600 49,340 56,150 50,180 47,950 50,064 57,129 54,331 56,979 57,220
Operating Margin 17.94% 17.01% 17.93% 19.61% 18.18% 16.96% 18.5% 19.74% 17.61% 17.09% 17.65% 19.32% 18.17% 18.78% 18.38%
Earnings before Tax (EBT) 1 43,456 43,370 45,840 53,033 51,950 46,896 51,280 58,740 52,690 57,070 54,197 59,808 56,303 59,340 60,432
Net income 1 36,164 32,830 34,890 40,363 39,830 35,340 38,320 43,500 39,860 42,570 39,636 45,333 42,595 44,588 45,408
Net margin 15.86% 13.99% 14.13% 15.32% 14.97% 13.44% 14.37% 15.29% 13.99% 15.17% 13.97% 15.33% 14.24% 14.69% 14.58%
EPS 2 13.35 12.12 12.88 14.62 14.69 13.12 14.16 16.03 14.69 15.69 14.58 16.46 15.86 16.14 16.73
Dividend per Share 2 18.00 18.00 10.00 10.00 10.00 10.00 12.00 12.00 12.00 12.00 12.04 12.02 12.00 13.06 13.04
Announcement Date 4/21/22 7/12/22 10/12/22 1/12/23 4/20/23 7/12/23 10/12/23 1/12/24 4/26/24 7/12/24 - - - - -
1INR in Million2INR
Estimates

Balance Sheet Analysis

Fiscal Period: March 2020 2021 2022 2023 2024 2025 2026 2027
Net Debt 1 - - - - - - - -
Net Cash position 1 64,522 117,055 181,963 178,380 214,370 259,184 311,222 342,409
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 112,226 175,442 155,751 163,480 214,000 167,244 183,238 209,073
ROE (net income / shareholders' equity) 24.1% 22.1% 22.1% 23.3% 23.5% 24.6% 26.3% 28.1%
ROA (Net income/ Total Assets) 15.9% 14.6% 15.4% 16.3% 16.3% 16.9% 17.9% 18.3%
Assets 1 739,824 863,420 896,789 912,589 965,938 1,015,442 1,052,968 1,132,981
Book Value Per Share 2 191.0 189.0 229.0 241.0 - 256.0 266.0 273.0
Cash Flow per Share 2 48.70 71.90 63.60 66.50 82.70 73.60 82.70 89.90
Capex 1 19,904 19,646 16,802 16,610 10,480 30,759 33,932 31,504
Capex / Sales 2.64% 2.57% 1.92% 1.64% 0.95% 2.65% 2.68% 2.28%
Announcement Date 5/7/20 4/23/21 4/21/22 4/20/23 4/26/24 - - -
1INR in Million2INR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
A-
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
41
Last Close Price
1,595 INR
Average target price
1,604 INR
Spread / Average Target
+0.57%
Consensus
  1. Stock Market
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  4. Financials HCL Technologies Limited