Design / Fabless / IP

HCL Technologies

HCLTECHNSEMega Cap

Live₹1,182.4syncing…

Top-tier IT services with engineering R&D and semiconductor design capability across products and platforms.

Market Cap

₹3.21L cr

Price

1182

1Y 14%

Direct exposure

30/100

0–100 directness

Buy

Fundamental

78/ 100

Quality of growth, returns, cash conversion and balance sheet

Technical (TQ-100)

76/ 100

Trend, momentum, volume and relative strength composite

Valuation

55/ 100

Higher = cheaper vs peers and own history

Final composite

67/ 100

Blended decision input

Data transparency

What's real, what's pending, on this page

Real financials loaded

✓ Real / verified

· Live price, day change, market cap — NSE direct
· 1Y OHLCV, RSI(14), 50/200 DMA, 1M/3M/1Y returns, RS vs Nifty — computed from real NSE OHLCV
· Sector P/E — NSE direct
· Promoter %, pledge %, MF/FII/public split, 9-quarter history — Trendlyne
· Earnings call AI summaries — Trendlyne (where available)
· Technical (TQ-100) score — computed from real OHLCV
· Annual revenue / EBITDA / PAT / OCF / FCF / equity / assets — Trendlyne (audited annuals)

⚠ Analyst-set (qualitative)

· Segment classification + semicon directness score — analyst seed
· Bull/bear case + monitorables (curated thesis) — analyst seed
· Governance risk score (seed) — being replaced by AI-agent assessment
· Synthesized 5Y forecast removed entirely (was inaccurate)

Real financials extracted for 42 of 45 companies. See /data-sources for full provenance.

HCL Technologies · HCLTECH

₹1,182.4+10.87% over 6M

Price50 DMA200 DMA

RSI (14)

Momentum oscillator · 6M view

Volume (60D)

Fundamental score (SageOne 100)

78/ 100A

Growth 20 / Margin 15 / ROC 20 / Cash 15 / Leverage 10 / Reinvestment 8 / Accounting 7 / Governance 5 minus red flags (capped -20).

Base 78

Growth quality/ 20

5.3

Rev 1Y 9.4% · 3Y CAGR 6.6%

Margin & profitability/ 15

13.9

EBITDA 33.1% · PAT 13.3%

Return on capital/ 20

20.0

ROCE 46% · ROE 22%

Cash flow quality/ 15

14.3

OCF/EBITDA 84% · FCF yield 5.0%

Leverage discipline/ 10

10.0

Net Debt/EBITDA -1.00x

Reinvestment runway/ 8

3.1

ROCE × retention proxy

Accounting quality/ 7

7.0

OCF conversion proxy

Governance/ 5

4.5

Pledge 0.0% · Risk 10/100

✓ Computed from real Trendlyne annuals (revenue, EBITDA, PAT, OCF, equity).

Technical score (TQ-100)

76/ 100A

Computed from real 1Y OHLCV pulled from NSE direct: trend, momentum, volume, RS vs Nifty, MA cluster, mean reversion, volatility, patterns minus red flags.

Base 84

Red flags -8

Trend structure/ 20

17.3

Above 200DMA · -34% from 52W high

Momentum velocity/ 15

14.4

RSI(14) 56 · 1M 1.2%

Volume dynamics/ 15

13.5

Bucket: Mega Cap

Relative strength/ 15

8.5

RS vs Nifty 4%

MA cluster/ 10

10.0

200DMA + 1Y trend confirmation

Mean-reversion runway/ 10

9.7

RSI(14) 56; ideal 50-60

Volatility profile/ 8

3.6

Bucket: Mega Cap

Pattern integrity/ 7

7.0

Trend continuation proxy

Red flags (1)

− Deep drawdown-34% from 52W high-8

AI research agents

Re-classify segment exposure and re-assess governance risk by running fresh AI agents on the latest data. Results cache to data/agents.json.

Segment classifier

Maps to value-chain segments + computes 0-100 directness

Seed: Design / Fabless / IP · 30/100

Governance assessor

Forensic-accounting flags + 0-100 risk score

Seed: 10/100 risk

AI thesis

Generates a fresh thesis grounded in this company's data. Wires to Anthropic when ANTHROPIC_API_KEY is set, otherwise returns a deterministic mock.

Curated thesis

Analyst-set bull, bear and monitorables · use AI thesis above for a fresh take

Quality compounder with semiconductor design optionality; thematic exposure indirect but real.

Bull case

+High dividend yield
+Consistent FCF generation
+Mature semicon design franchise

Bear case

−Indirect semiconductor exposure
−BFSI demand cyclical
−Low growth ceiling

Key monitorables

ER&D revenue mixEngineering deal winsMargin defense at scale

Semiconductor exposure

How direct, how visible

Primary segment

Design / Fabless / IP

All segments

Design / Fabless / IP

Exposure type

Ancillary

Policy beneficiary

Limited

Import substitution

Medium / Low

Governance risk score

10/100 (lower = better)

Financial snapshot

Latest reported metrics · mock data, ready for live financials

Rev growth (1Y)

9.4%

Rev CAGR (3Y)

6.6%

EBITDA margin

33.1%

PAT margin

13.3%

ROCE

46%

ROE

22%

OCF / EBITDA

84%

Net Debt / EBITDA

-1.0x

Promoter holding

60.3%

Promoter pledge

0.0%

Valuation

P/E (TTM)

19.4

Forward P/E

24.0

EV/EBITDA

16.9

EV/Sales

5.6

P/B

9.2

FCF Yield

5.0%

Dividend Yield

3.00%

Hist. percentile

55%

Peer percentile

50%

Technicals

RSI(14)

1M return

1.2%

1Y return

14%

From 52W high

-34%

RS vs Nifty

>200 DMA

Yes

Annual financials — real data

Extracted from Trendlyne · audited annuals · TTM + last 6 fiscal years

✓ Real

Line	TTM	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	₹57.2k cr	₹57.2k cr	₹52.3k cr	₹49.2k cr	₹47.3k cr	₹41.5k cr	₹36.6k cr
↳ YoY growth	+0.0%	+9.4%	+6.4%	+4.0%	+13.9%	+13.3%	—
EBITDA	₹19.3k cr	₹18.9k cr	₹18.0k cr	₹17.3k cr	₹16.0k cr	₹15.4k cr	₹13.4k cr
↳ EBITDA margin	33.7%	33.1%	34.3%	35.1%	33.8%	37.1%	36.5%
PAT	₹7.6k cr	₹7.6k cr	₹12.3k cr	₹11.7k cr	₹11.5k cr	₹10.9k cr	₹8.7k cr
↳ PAT margin	13.3%	13.3%	23.4%	23.7%	24.2%	26.2%	23.9%
OCF	₹12.1k cr	₹16.0k cr	₹15.3k cr	₹13.5k cr	₹10.6k cr	₹15.8k cr	₹9.9k cr
↳ OCF / EBITDA	63.0%	84.4%	85.1%	78.4%	66.2%	102.4%	73.7%
FCF (= OCF − capex)	₹12.1k cr	₹16.0k cr	₹13.0k cr	₹12.7k cr	₹10.6k cr	₹11.2k cr	₹-1.2k cr
Total Equity	₹25.9k cr	₹34.9k cr	₹39.5k cr	₹41.1k cr	₹42.6k cr	₹43.6k cr	₹37.3k cr
Total Assets	₹47.0k cr	₹52.5k cr	₹52.3k cr	₹53.4k cr	₹53.4k cr	₹55.4k cr	₹53.5k cr
↳ ROE	29.5%	21.8%	31.1%	28.4%	26.9%	25.0%	23.4%
↳ ROA	16.2%	14.5%	23.5%	21.9%	21.4%	19.6%	16.3%

Source: Trendlyne (Standalone where Consolidated unavailable). Last refresh on real-data ingest.

Promoter pledge & shareholding history

From Trendlyne · 9 quarters · synced Invalid Date

Pledge: 0.0%

Promoter

60.9%

Mutual Funds

9.2%

FII

15.5%

Public

4.4%

Promoter holding trend

60.8

Mar

60.8

Jun

60.8

Sep

60.8

Dec

60.8

Mar

60.8

Jun

60.8

Sep

60.8

Dec

60.9

Mar

Δ:+0.1% over 9 quarters

Commentary

·Promoter stable at 60.9%
·No pledge

Management quality

Capital allocation, debt discipline, alignment, governance composite. Computed from disclosed metrics.

Capital allocation

Sustained high return on capital indicates disciplined reinvestment.

ROCE 46%, div yield 3.0%

Promoter holding

Promoter has strong skin in the game.

60.3%

Promoter pledge

No pledging — cleanest signal.

0.0%

Debt discipline

Net cash balance sheet.

Net Debt/EBITDA -1.00x

Cash conversion

Reported EBITDA reliably translates into cash.

OCF/EBITDA 84%

Governance composite

Clean governance signals across pledging, RPTs, auditor, KMP pay.

10/100 risk

Variant perception

What the market is pricing in versus our read, and what would invalidate the thesis.

What the market is pricing in

Steady but unspectacular execution. Multiples reflect mid-pack expectations.

What we think it's missing

Consensus appears reasonable. Look for thesis-changing catalysts (margin inflection, new customer wins, segment mix shift) rather than narrative re-rating alone.

Thesis killers

×Demand cycle softens enough to derail margin expansion

References

Wire to live data sources in production

NSE filings Screener BSE corporate filings Annual report (latest)Concall transcript (latest)Investor presentation