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HCL Technologies Ltd

| Audited Financial Results for the quarter and year ended March 31, 2026

Report Source

⬤21st Apr 26

Summary : HCLTech reports strong financial results with significant revenue growth, declares interim dividend, despite one-time regulatory and tax impacts.

Quarterly Report Analysis & Insights

Financial Disclosures

  1. Consolidated Total expenses (Year ended March 31, 2026): 108,616 crores
  2. Employee benefits expense: 74,143 crores
  3. Outsourcing costs: 18,422 crores
  4. Depreciation and amortization expense: 4,355 crores
  5. Consolidated Revenue from operations (Year ended March 31, 2026): 130,144 crores
  6. IT and Business Services revenue: 96,094 crores
  7. Engineering and R&D services revenue: 22,056 crores
  8. HCL Software revenue: 11,994 crores
  9. Consolidated Net cash flow from operating activities: 19,975 crores
  10. Consolidated Net cash flow used in investing activities: (1,473) crores
  11. Consolidated Net cash flow used in financing activities: (19,369) crores
  12. Cash and cash equivalents at year end: 8,195 crores
  13. Consolidated Total Assets (March 31, 2026): 116,258 crores
  14. Consolidated Total Equity (March 31, 2026): 75,197 crores
  15. Consolidated Total Liabilities (March 31, 2026): 41,061 crores
  16. BAPA transaction with wholly owned subsidiary
  17. Both consolidated and standalone financial results are presented and audited.

Corporate Overview

  1. Global
  2. One-time impact of New Labour Codes
  3. One-time impact of a material Bilateral Advance Pricing Agreement (BAPA)
  4. IT and Business Services
  5. Engineering and R&D services
  6. HCL Software
  7. IT and Business Services
  8. Engineering and R&D services
  9. HCL Software

Risk Factors

  1. One-time impact from New Labour Codes.
  2. Bilateral Advance Pricing Agreement tax adjustments.
  3. Potential future regulatory changes.
  4. Tax implications from BAPA.

Key Drivers

  1. Interim dividend of Rs. 24 declared.
  2. Strong revenue growth across all segments.
  3. Unmodified audit opinion received.
  4. Positive cash flow from operations.

Auditor’s Report

  1. Unmodified audit report

Board Commentary

  1. Interim Dividend of Rs. 24/- per equity share
  2. Impact from New Labour Codes
  3. Tax adjustments from BAPA
  4. One-time impact of New Labour Codes
  5. One-time impact of a material Bilateral Advance Pricing Agreement (BAPA)

Corporate Governance

  1. Audit Committee

Management Discussion & Analysis

Performance Drivers

  1. Growth in IT and Business Services
  2. Growth in Engineering and R&D services
  3. Contribution from HCL Software segment

Risk Control Measures

  1. Formalization of BAPA with foreign jurisdiction

Critical Risks

  1. Impact from New Labour Codes
  2. Tax adjustments from BAPA
HCL Technologies Ltd (HCLTECH) Quarterly Report Analysis & Insights | Dhanarthi