HCL Technologies (HCLTECH) Q4 25/26 (Media) earnings summary

Executive summary

• FY 2026 revenue reached $14.7bn, up 3.9% in constant currency; third consecutive year of industry-leading organic growth among scale peers.

• Advanced AI annualized revenue reached $620m; Q4 revenue was $155m, up 6.1% sequentially.

• Audited consolidated and standalone financial results for the quarter and year ended March 31, 2026, received unmodified audit opinions.

• An interim dividend of ₹24 per share was declared for FY 2026-27, with a record date of April 25, 2026.

Financial highlights

• FY 2026 revenue was ₹130,144 crore, up 11.2% YoY; consolidated net profit was ₹16,652 crore, versus ₹17,399 crore in FY 2025.

• FY EBIT was ₹22,397 crore, or 17.2% of revenue; excluding restructuring costs, operating margin was 17.9%, down 40 bps YoY.

• FY 2026 group profit excluding one-time impacts was ₹17,371 crore; New Labour Codes reduced group profit after tax by ₹719 crore.

• Q4 revenue was $3.7bn, down 3.3% QoQ and up 2.4% YoY; INR revenue was ₹33,981 crore, up 0.3% QoQ and 12.3% YoY.

• Q4 EBIT was ₹5,620 crore, or 16.5% of revenue; net income was ₹4,488 crore, or 13.2% of revenue.

Outlook and guidance

• FY 2027 revenue growth guidance is 1%-4% in constant currency; services growth 1.5%-4.5%; EBIT margin 17.5%-18.5%.

• Low-end assumptions include persistent soft discretionary spending and potentially deeper reductions by two clients; high-end assumes improved spending and strong bookings, including large Q1/Q2 deals.

• Advanced AI revenue is expected to grow at least 30% YoY for some time; AI-amplified data, modernization, cloud and cybersecurity services are expected to grow close to double digits.

• Some restructuring may continue in FY 2027; related costs are included in the margin guidance.