Valuation HCL Technologies Limited

Equities

HCLTECH

INE860A01027

IT Services & Consulting

Market Closed - NSE India S.E. Other stock markets 05:19:41 11/07/2025 pm IST			5-day change	1st Jan Change
1,638.30 ^INR	-1.53%		-5.08%	-14.56%

10/07	TCS revenue falls short as tariffs cast shadow on client spending	RE
10/07	TCS revenue falls short as tariffs cast shadow on client spending	RE

Company Valuation: HCL Technologies Limited

Data adjusted to current consolidation scope

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Capitalization ¹	26,66,583	31,51,627	29,38,146	41,79,869	43,16,104	44,38,009	-	-
Change	-	18.19%	-6.77%	42.26%	3.26%	2.82%	-	-
Enterprise Value (EV) ¹	25,49,528	29,69,664	27,59,766	39,65,499	40,91,244	41,46,362	40,94,499	40,64,655
Change	-	16.48%	-7.07%	43.69%	3.17%	1.35%	-1.25%	-0.73%
P/E ratio	21.1x	22.9x	19.8x	26.7x	24.8x	24.3x	22.2x	20.7x
PBR	5.21x	5.07x	4.5x	6.12x	6.22x	6.26x	5.98x	5.68x
PEG	-	2.51x	2.49x	4.77x	2.3x	4.61x	2.31x	3.05x
Capitalization / Revenue	3.49x	3.6x	2.9x	3.8x	3.69x	3.56x	3.3x	3.07x
EV / Revenue	3.34x	3.39x	2.72x	3.61x	3.5x	3.33x	3.05x	2.82x
EV / EBITDA	12.5x	14.2x	12.2x	16.4x	16x	15.2x	13.8x	12.9x
EV / EBIT	15.6x	18x	14.9x	19.8x	19.1x	18.1x	16.3x	15x
EV / FCF	14.5x	19.1x	16.9x	18.5x	19.3x	23.3x	20.4x	19x
FCF Yield	6.88%	5.24%	5.92%	5.4%	5.17%	4.29%	4.9%	5.26%
Dividend per Share ²	10	44	48	52	60	60.97	64.36	68.79
Rate of return	1.02%	3.78%	4.42%	3.37%	3.77%	3.72%	3.93%	4.2%
EPS ²	46.51	50.76	54.79	57.86	64.09	67.47	73.95	78.97
Distribution rate	21.5%	86.7%	87.6%	89.9%	93.6%	90.4%	87%	87.1%
Net sales ¹	7,64,137	8,74,825	10,14,560	10,99,130	11,70,550	12,45,969	13,43,121	14,43,591
EBITDA ¹	2,03,631	2,09,524	2,26,280	2,42,000	2,55,040	2,72,760	2,95,968	3,14,714
EBIT ¹	1,63,211	1,65,314	1,84,830	2,00,270	2,14,200	2,29,661	2,50,806	2,70,823
Net income ¹	1,26,223	1,37,684	1,48,510	1,57,020	1,73,900	1,83,650	2,01,474	2,16,424
Net Debt ¹	-1,17,055	-1,81,963	-1,78,380	-2,14,370	-2,24,860	-2,91,647	-3,43,510	-3,73,354
Reference price ²	982.65	1,163.75	1,085.25	1,543.55	1,592.50	1,638.30	1,638.30	1,638.30
Nbr of stocks (in thousands)	27,13,665	27,08,165	27,07,345	27,07,958	27,10,269	27,08,911	-	-
Announcement Date	23/04/21	21/04/22	20/04/23	26/04/24	22/04/25	-	-	-

¹INR in Million²INR

Estimates

P/E ratio, Detailed evolution

Sector Comparison:

Add to a list 0 selected To use this feature you must be a member Log in Sign up	P/E (Y)	EV / Sales (Y)	EV / EBITDA (Y)	Dividend Yield (Y)	Capi.($)
HCL TECHNOLOGIES LIMITED	24.28x	3.33x	15.2x	3.72%	5.17TCr
IBM	31.21x	4.48x	17.07x	2.38%	26TCr
ACCENTURE PLC	21.78x	2.49x	13.14x	2.07%	18TCr
TATA CONSULTANCY SERVICES LTD.	23.1x	4.32x	16.12x	3.69%	14TCr
AUTOMATIC DATA PROCESSING, INC.	30.34x	6.07x	20.89x	1.94%	12TCr
CROWDSTRIKE HOLDINGS, INC.	-803.79x	23.96x	93.83x	-.--%	12TCr
RELX PLC	35.02x	8.1x	20.34x	1.68%	9.85TCr
INFOSYS LIMITED	23.49x	3.62x	14.95x	3.27%	7.7TCr
SNOWFLAKE INC.	-50.39x	14.82x	119.66x	-.--%	7.03TCr
FUJITSU LIMITED	15.46x	1.55x	10.91x	0.94%	3.84TCr
Average	-64.95x	7.27x	34.21x	1.97%	11.5TCr
Weighted average by Cap.	-63.93x	7.08x	30.85x	2.06%