HCL Technologies Q4 Review - Disappointing Margin Guidance: Prabhudas Lilladher
People walk in front of the HCL Technologies Ltd office at Noida, on the outskirts of New Delhi. Image used for representational purposes.

HCL Technologies Q4 Review - Disappointing Margin Guidance: Prabhudas Lilladher

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Prabhudas Lilladher Report

HCL Technologies Ltd. reported revenue growth of 3% quarter-on-quarter U.S. dollar (our estimate: 3.8%, consensus: 3.7%) below our and consensus estimates, led by decline in products and platform business (down 5% QoQ U.S. dollar) and weak growth in engineering research and development (up 0.4% QoQ U.S. dollar).

This was offset by strong growth in IT services (up 5.2% QoQ U.S. dollar).

Ebit margin decreased sharply, (ex-milestone bonus at 20.4%, down 247 basis points QoQ and including milestone bonus at 16.6%, down 632 bps QoQ) due to impact of senior management wage hike, increased fresher hiring, impairment in P&P portfolio and milestone bonus.

Click on the attachment to read the full report:

Prabhudas Lilladher HCL Tech Q4FY21 Result Review.pdf


This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

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