HCLTECH · Information Technology
No check fired. That is a statement about the checks below, not a verdict on the company.
Operating margin slipped on the year.
EBITDA margin 20.5%, −158 bps on the year (+60 bps on the quarter).
Source: Quarterly statements
Could not run on this quarter: Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
This quarter's filing carries a balance sheet and a cash flow statement. The cash, receivables and borrowing checks run once the filing read is in.
| Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | Q2 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹28,446 cr | ₹28,499 cr | ₹28,057 cr | ₹28,862 cr | ₹29,890 cr | ₹30,246 cr | ₹30,349 cr | ₹31,942 cr | ₹33,872 cr | ₹33,981 cr | ₹34,579 cr | ₹35,620 cr |
| YoY | — | — | — | +8% | +5% | +6% | +8% | +11% | +13% | +12% | +14% | +12% |
| EBITDA margin | 23.9% | 21.5% | 20.6% | 22.1% | 23.0% | 21.4% | 19.9% | 20.5% | 21.9% | 19.8% | 19.9% | 20.9% |
| Other income, % of PBT | 6% | 8% | 19% | 8% | 8% | 8% | 9% | 7% | −10% | 6% | 6% | 4% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 26% | 24% | 25% | 26% | 25% | 25% | 26% | 26% | 26% | 21% | 24% | 21% |
| Net profit | ₹4,351 cr | ₹3,995 cr | ₹4,259 cr | ₹4,237 cr | ₹4,594 cr | ₹4,309 cr | ₹3,844 cr | ₹4,236 cr | ₹4,082 cr | ₹4,490 cr | ₹4,626 cr | ₹5,132 cr |
| YoY | — | — | — | +11% | +6% | +8% | −10% | −0% | −11% | +4% | +20% | +21% |
| Core profit YoY | — | — | — | +10% | +3% | +9% | +3% | +1% | +8% | +2% | +21% | +18% |
| EPS | ₹16.03 | ₹14.69 | ₹15.69 | ₹15.61 | ₹16.92 | ₹15.87 | ₹14.16 | ₹15.61 | ₹15.02 | ₹16.54 | ₹17.04 | ₹18.91 |
| Flags | · | · | · | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
HCL Technologies Ltd. reported revenue of ₹31,942 cr (+10.7% on the year) and net profit of ₹4,236 cr (−0.0% on the year) for July to September 2025.
Profit before other income, exceptional items and tax moved +1.1% on the year, against −0.0% for reported profit.
None of the 7 checks that could run raised a question.
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