HCLTech Announced the
Results for Q1 FY26 
on July 14

We had healthy revenue growth of 3.7% YoY supported by good performance in our Services business with 4.5% YoY growth in constant currency. Our operating margin came at 16.3%, impacted by lower utilization and additional Gen AI and GTM investments. Our AI propositions are resonating well with our clients and have been augmented further by our partnership with Open AI. Our pipeline continues to grow as the demand environment was stable during the quarter. As the only service provider positioned as “Customer's Choice’’ in all 6 Gartner Voice of Customer Quadrant evaluations related to IT services, we are well positioned to grow in the AI era."

C Vijayakumar
Chief Executive Officer and Managing Director | HCLTech
C Vijayakumar

Q1 FY 2026 Highlights

Revenue

Revenue

  • INR Revenue of ₹30,349 Crores, up 0.3% QoQ & up 8.2% YoY
  • Constant Currency (CC) Revenue down 0.8% QoQ & up 3.7% YoY
  • USD Revenue of $3,545M, up 1.3% QoQ & up 5.4% YoY
  • Consolidated Revenue on LTM basis crosses $14B
  • HCLTech Services CC Revenue down 0.1% QoQ & up 4.5% YoY
  • Digital Revenue up 15.2% YoY CC; contributes 41.6% of Services
  • HCLSoftware Revenue down 3.0% YoY CC
  • HCLSoftware ARR at $1.06B, up 1.3% YoY CC
Profitability & Return Metrics

Profitability & Return Metrics

  • EBIT at ₹4,942 Crores (16.3% of revenue), down 9.2% QoQ & up 3.1% YoY
  • NI at ₹3,843 Crores (12.7% of revenue), down 10.8% QoQ & down 9.7% YoY
  • ROIC (on LTM basis) – Company at 38.1%, up 353 bps YoY; Services at 45.2%, up 236 bps YoY
  • OCF at $2,571M and FCF at $2,421M (on LTM basis)
  • FCF/NI at 121% (on LTM basis)
  • Dividend of ₹12/- per share, 90th consecutive quarter of dividend pay-out
Bookings

Bookings

  • TCV (New Deal wins) at $1,812M
People

People

  • Total People Count at 223,151; Net addition: (269)
  • Added 1,984 freshers
  • LTM Attrition at 12.8%, (on par with 12.8% in Q1 of last year)
Awards and Recognitions

Awards and Recognitions

  • HCLTech is the only service provider positioned as “Customers' Choice’’ in all six Gartner® VOC Quadrant (Voice of the Customer) evaluations related to IT services*
  • HCLTech recognized as one of the “World's Most Sustainable Companies of 2025” by Times and Statista
FY’24 Guidance

FY26 Guidance

  • Company Revenue growth expected to be between 3.0% - 5.0% YoY in CC
  • Services Revenue growth expected to be between 3.0% - 5.0% YoY in CC
  • EBIT margin to be between 17.0% – 18.0%

* GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally, and PEER INSIGHGTS is a registered trademark of Gartner, Inc. and/or its affiliates and are used herein with permission. All rights reserved. Gartner Peer Insights content consists of the opinions of individual end users based on their own experiences, and should not be construed as statements of fact, nor do they represent the views of Gartner or its affiliates. Gartner does not endorse any vendor, product or service depicted in this content nor makes any warranties, expressed or implied, with respect to this content, about its accuracy or completeness, including any warranties of merchantability or fitness for a particular purpose. The Gartner content described herein (the “Gartner Content”) represents research opinion or viewpoints published, as part of a syndicated subscription service, by Gartner, Inc. ("Gartner"), and is not a representation of fact. Gartner Content speaks as of its original publication date (and not as of the date of this Report), and the opinions expressed in the Gartner Content are subject to change without notice.

Investor Call Recording

Q1

HCL Technologies Q1, FY26 Earnings Call audio recording

Video Recording

Q1 Press Conference

HCLTech Overview

HCLTech is a global technology company, home to more than 223,000 people across 60 countries, delivering industry-leading capabilities centered around digital, engineering, cloud and AI, powered by a broad portfolio of technology services and products.

We work with clients across all major verticals, providing industry solutions for Financial Services, Manufacturing, Life Sciences and Healthcare, Technology and Services, Telecom and Media, Retail and CPG and Public Services. Consolidated revenues as of for 12 months ending June 2025 totaled $14.0B.

HCLTech Annual Report 2024

HCLTech Annual Report 2024

Sustainability Report 2024

We are delivering long-lasting impact through our actions as a company and through our pacts with stakeholders for a more sustainable future.

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Fast Facts and Key Financial Data

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Contact

Manish Anand

Executive Vice President & Company Secretary


HCL Technologies Limited

2nd Floor, Corporate Towers,
Plot No. 3A, Sector 126,
Noida – 201304
Uttar Pradesh, India


Contact No.

+91 120 4306000

Email address

investors@hcltech.com 

Nitin Mohta

Senior Vice President & Head – Investor Relations


HCL Technologies Limited

2nd Floor, Corporate Towers,
Plot No. 3A, Sector 126,
Noida – 201304
Uttar Pradesh, India


Contact No.

+91 120 4306000

Email address

nitin.mohta@hcltech.com

Registrar & Share Transfer Agent

M/s. MUFG Intime India Pvt Limited (formerly known as Link Intime India Private Limited)


Unit: HCL Technologies Limited

C 101, 247 Park, L.B.S.Marg, Vikhroli (West), Mumbai – 400083
Maharashtra, India


Contact No.

1800 1020 878

Fax

+91 22 4918 6060

Email address

mufg.update@in.mpms.mufg.com