HCL Tech Q3 Review: Growth Drivers Largely In Place, Outlook Encouraging, Says Dolat Capital 
People walk in front of the HCL Technologies Ltd office at Noida, on the outskirts of New Delhi. Image used for representational purposes.

HCL Tech Q3 Review: Growth Drivers Largely In Place, Outlook Encouraging, Says Dolat Capital 

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Dolat Capital Report

HCL Technologies Ltd. reported 3.5% QoQ constant currency growth (our estimate 2.4%) led by strong growth across segments with product and platforms leading the pack (8.9% QoQ).

Operating profit margin improved by 127 basis points to 22.9% (our estimate 21.0%) helped by cost control and improved business mix.

Announced Dividend of Rs four per share.

The company has upped the Ebit guidance by 100 basis points/50 basis points to 21% to 21.5% despite upcoming wage hike in Q4 and sales investments in P&P business. As it expects incremental off-shoring led tailwinds and sustenance of cost savings.

Revenue Guidance for Q4 at 2-3% is intact on organic basis.

Click on the attachment to read the full report:

Dolat Capital HCL Tech Q3FY21 Result Update.pdf

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