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Created: 2025-07-16 07:06:45 UTC

📊 HCL Technologies Ltd | Broker Report | 𝘏𝘖𝘓𝘋 𝘊𝘢𝘭𝘭 🟡

🏢 𝘏𝘰𝘭𝘥 𝘏𝘊𝘓 𝘛𝘦𝘤𝘩𝘯𝘰𝘭𝘰𝘨𝘪𝘦𝘴; 𝘵𝘢𝘳𝘨𝘦𝘵 𝘰𝘧 𝘙𝘴 1693: 𝘋𝘦𝘷𝘦𝘯 𝘊𝘩𝘰𝘬𝘴𝘦𝘺
📈 𝘙𝘦𝘤𝘰𝘮𝘮𝘦𝘯𝘥𝘢𝘵𝘪𝘰𝘯: HOLD
🏛️ 𝘉𝘳𝘰𝘬𝘦𝘳𝘢𝘨𝘦: Deven Choksey

HCL Technologies Ltd: Broker Report - Q1FY26 Update. DevenChoksey maintains a HOLD rating with a target price of ₹1,693, potential upside of 4.5%. Revenue for Q1FY26 reached ₹3,03,490 Mn, a YoY increase of 8.2%, in line with estimates. 📈

- 𝗕𝗿𝗼𝗸𝗲𝗿𝗮𝗴𝗲 𝗙𝗶𝗿𝗺: DevenChoksey
- 𝗥𝗲𝗰𝗼𝗺𝗺𝗲𝗻𝗱𝗮𝘁𝗶𝗼𝗻: HOLD
- 𝗧𝗮𝗿𝗴𝗲𝘁 𝗣𝗿𝗶𝗰𝗲: ₹1,693

- 𝗥𝗮𝘁𝗶𝗼𝗻𝗮𝗹𝗲:
  ▪  Revenue growth driven by Financial Services, Technology and Telecom sectors.
  ▪  EBIT margin decline due to lower utilization, AI investments, and client bankruptcy.
  ▪  Net profit decreased, impacting net margin.
  ▪  Company added new clients and expects to close large deals.

- 𝗞𝗲𝘆 𝗠𝗲𝘁𝗿𝗶𝗰𝘀:
  ▪  𝗥𝗲𝘃𝗲𝗻𝘂𝗲: ₹3,03,490 Mn (+8.2% YoY)
  ▪  𝗨𝗦𝗗 𝗥𝗲𝘃𝗲𝗻𝘂𝗲: $XXXXX Mn (+3.7% YoY)
  ▪  𝗘𝗕𝗜𝗧 𝗠𝗮𝗿𝗴𝗶𝗻: XXXX%
  ▪  𝗡𝗲𝘁 𝗣𝗿𝗼𝗳𝗶𝘁: ₹38,430 Mn
  ▪  𝗡𝗲𝘁 𝗠𝗮𝗿𝗴𝗶𝗻: XXXX%

- 𝗦𝗲𝗴𝗺𝗲𝗻𝘁 𝗣𝗲𝗿𝗳𝗼𝗿𝗺𝗮𝗻𝗰𝗲:
  ▪  Strong growth in Technology & Services, Telecom, Retail, and Financial Services.
  ▪  Decline in Life Sciences, Healthcare, Public Services, and Manufacturing.

- 𝗢𝘂𝘁𝗹𝗼𝗼𝗸:
  ▪  Revised EPS estimates for FY26E/FY27E due to margin impact.
  ▪  Management aims to drive efficiencies through scaling and deal wins.
- 𝗗𝗲𝗮𝗹 𝗪𝗶𝗻𝘀: Signed new deals worth USD 1.8bn.
- 𝗖𝗹𝗶𝗲𝗻𝘁𝗲𝗹𝗲: Added XX new clients YoY.

- 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹𝘀:
  ▪  Revenue CAGR between FY25-27E: XXX%
  ▪  Adj. PAT CAGR between FY25-27E: XXX%

🔗 𝘙𝘦𝘢𝘥 𝘍𝘶𝘭𝘭 𝘙𝘦𝘱𝘰𝘳𝘵:

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XXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1945379560981250314/c:line.svg)

**Related Topics**
[hcl technologies](/topic/hcl-technologies)

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