Financials HCL Technologies Limited

Equities

HCLTECH

INE860A01027

IT Services & Consulting

Market Closed - NSE India S.E. Other stock markets 07:43:57 2024-09-10 EDT			5-day change	1st Jan Change
1,779.10 ^INR	+1.85%		-1.52%	+21.35%

08-26	Xerox and HCLTech Extend Agreement to Drive Innovation with AI and Digital Engineering	CI
08-26	Indian Equities Gain on Monday After US Feds Chair Hints Loosening Monetary Policy	MT

Projected Income Statement: HCL Technologies Limited

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	1,160,313	1,267,340	1,384,089
Change	-	1.45%	14.49%	15.97%	8.34%	5.57%	9.22%	9.21%
EBITDA ¹	173,160	203,631	209,524	226,280	242,000	254,389	282,678	306,294
Change	-	17.6%	2.89%	8%	6.95%	5.12%	11.12%	8.35%
EBIT ¹	138,960	163,211	165,314	184,830	200,270	212,063	237,578	260,168
Change	-	17.45%	1.29%	11.81%	8.35%	5.89%	12.03%	9.51%
Interest Paid ¹	-3,888	-2,804	-3,063	-3,530	-5,530	-5,591	-5,449	-4,981
Earnings before Tax (EBT) ¹	149,395	163,970	172,964	194,880	209,670	229,256	251,978	278,610
Change	-	9.76%	5.49%	12.67%	7.59%	9.34%	9.91%	10.57%
Net income ¹	117,778	126,223	137,684	148,510	157,020	171,337	188,473	208,165
Change	-	7.17%	9.08%	7.86%	5.73%	9.12%	10%	10.45%
Announcement Date	20-05-07	21-04-23	22-04-21	23-04-20	24-04-26	-	-	-

¹INR in Million

Estimates

Fiscal Period: March	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	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	2026 Q3	2026 Q4	2027 Q1
Net sales ¹	175,280	181,350	192,801	176,955	184,084	191,303	202,467	203,640	209,733	220,648	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	320,932	325,355	331,895
Change	-	3.46%	6.31%	-8.22%	4.03%	3.92%	5.84%	0.58%	2.99%	5.2%	3.36%	2.88%	5.21%	6.72%	0.99%	-1.17%	1.43%	6.65%	0.19%	-1.55%	1.1%	4.22%	1.17%	1.45%	2.62%	3.07%	1.38%	2.01%
EBITDA ¹	41,030	44,700	48,580	45,316	49,033	53,958	52,759	49,823	49,113	51,733	50,817	49,750	54,250	62,941	58,630	53,870	59,440	67,580	61,110	57,930	60,619	66,374	64,993	65,742	66,941	71,454	71,669	73,681
Change	-	8.94%	8.68%	-6.72%	8.2%	10.04%	-2.22%	-5.56%	-1.42%	5.33%	-1.77%	-2.1%	9.05%	16.02%	-6.85%	-8.12%	10.34%	13.69%	-9.57%	-5.2%	4.64%	9.49%	-2.08%	1.15%	1.82%	6.74%	0.3%	2.81%
EBIT ¹	34,970	36,700	38,620	36,325	39,773	43,793	41,238	39,906	39,749	41,929	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	61,345	61,560	63,206
Change	-	4.95%	5.23%	-5.94%	9.49%	10.11%	-5.83%	-3.23%	-0.39%	5.48%	-2.43%	-2.42%	10.9%	16.68%	-6.37%	-7.78%	10.63%	13.8%	-10.63%	-4.44%	4.41%	14.11%	-4.9%	4.87%	0.42%	7.21%	0.35%	2.67%
Charge d'intérêts	-	-1,580	-1,314	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	34,940	37,360	40,099	38,365	41,126	45,038	37,296	41,867	41,861	43,929	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	64,706	65,077	66,854
Change	-	6.93%	7.33%	-4.32%	7.19%	9.51%	-17.19%	12.26%	-0.01%	4.94%	-1.08%	-0.2%	5.7%	15.69%	-2.04%	-9.73%	9.35%	14.55%	-10.3%	8.31%	-5.04%	10.35%	-5.86%	5.4%	1.84%	7.07%	0.57%	2.73%
Net income ¹	26,510	30,370	32,703	29,023	31,132	39,454	24,844	32,631	33,128	39,990	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	48,621	48,900	50,236
Change	-	14.56%	7.68%	-11.25%	7.27%	26.73%	-37.03%	31.34%	1.52%	20.71%	-9.57%	-9.22%	6.27%	15.69%	-1.32%	-11.27%	8.43%	13.52%	-8.37%	6.8%	-6.89%	14.37%	-6.04%	4.68%	1.84%	7.08%	0.57%	2.73%
Announcement Date	19-10-23	20-01-17	20-05-07	20-07-17	20-10-16	21-01-15	21-04-23	21-07-19	21-10-14	22-01-14	22-04-21	22-07-12	22-10-12	23-01-12	23-04-20	23-07-12	23-10-12	24-01-12	24-04-26	24-07-12	-	-	-	-	-	-	-	-

¹INR in Million

Estimates

Forecast Balance Sheet: HCL Technologies Limited

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	-64,522	-117,055	-181,963	-178,380	-214,370	-259,221	-311,313	-342,752
Change	-	-281.42%	-255.45%	-198.03%	-220.18%	-220.92%	-220.1%	-210.1%
Announcement Date	20-05-07	21-04-23	22-04-21	23-04-20	24-04-26	-	-	-

¹INR in Million

Estimates

Cash Flow Forecast: HCL Technologies Limited

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	19,904	19,646	16,802	16,610	10,480	30,200	33,176	32,955
Change	-	-1.3%	-14.48%	-1.14%	-36.91%	188.17%	9.86%	-0.67%
Free Cash Flow (FCF) ¹	112,226	175,442	155,751	163,480	214,000	168,128	184,570	209,171
Change	-	56.33%	-11.22%	4.96%	30.9%	-21.44%	9.78%	13.33%
Announcement Date	20-05-07	21-04-23	22-04-21	23-04-20	24-04-26	-	-	-

¹INR in Million

Estimates

Forecast Financial Ratios: HCL Technologies Limited

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	22.99%	26.65%	23.95%	22.3%	22.02%	21.92%	22.3%	22.13%
EBIT Margin (%)	18.45%	21.36%	18.9%	18.22%	18.22%	18.28%	18.75%	18.8%
EBT Margin (%)	19.84%	21.46%	19.77%	19.21%	19.08%	19.76%	19.88%	20.13%
Net margin (%)	15.64%	16.52%	15.74%	14.64%	14.29%	14.77%	14.87%	15.04%
FCF margin (%)	14.9%	22.96%	17.8%	16.11%	19.47%	14.49%	14.56%	15.11%
FCF / Net Income (%)	95.29%	138.99%	113.12%	110.08%	136.29%	98.13%	97.93%	100.48%
Profitability
ROA	15.92%	14.62%	15.35%	16.27%	16.26%	16.87%	17.96%	18.61%
ROE	24.15%	22.07%	22.08%	23.32%	23.49%	24.67%	26.26%	28.27%
Financial Health
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Debt / Free cash flow	-	-	-	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	2.64%	2.57%	1.92%	1.64%	0.95%	2.6%	2.62%	2.38%
CAPEX / EBITDA (%)	11.49%	9.65%	8.02%	7.34%	4.33%	11.87%	11.74%	10.76%
CAPEX / FCF (%)	17.74%	11.2%	10.79%	10.16%	4.9%	17.96%	17.97%	15.75%
Items per share
Cash flow per share ¹	48.69	71.89	63.62	66.47	82.72	73.62	82.73	89.89
Change	-	47.65%	-11.51%	4.48%	24.45%	-11%	12.38%	8.65%
Dividend per Share ¹	7	10	44	48	52	54.02	58.66	64.39
Change	-	42.86%	340%	9.09%	8.33%	3.88%	8.61%	9.76%
Book Value Per Share ¹	190.7	188.6	229.4	240.9	-	255.9	265.4	271.7
Change	-	-1.1%	21.67%	5%	-	-	3.73%	2.39%
EPS ¹	43.21	46.51	50.76	54.79	57.86	62.98	69.2	76.23
Change	-	7.64%	9.14%	7.94%	5.6%	8.85%	9.87%	10.16%
Nbr of stocks (in thousands)	2,713,665	2,713,665	2,708,165	2,707,345	2,707,958	2,706,133	2,706,133	2,706,133
Announcement Date	20-05-07	21-04-23	22-04-21	23-04-20	24-04-26	-	-	-