HCL Technologies Limited (HCLTECH.NS)

DCF Valuation · Technology · Information Technology Services

Valuation as at 2026-08-14 · see also the NIFTY 500 Most Undervalued screen

About HCL Technologies Limited

HCL Technologies Limited provides IT and business services, engineering, research and development services, software products, and IP-led offerings. It operates through IT and Business Services, Engineering and R&D Services, and HCL Software segments. The company provides application development, management, modernization, and testing services, as well as commercial applications; automation services, including digital integration, business process management, robotic process automation for intelligent automation, and low- and no-code services; digital process operations, such as customer experience management, hyper intelligent automation, supply chain management, finance and accounting, marketing operations and content, and human resource services; and data and AI services that consist of strategy and advisory, modernize data, simplify insights, and scale AI.

Source: Yahoo Finance company profile · factual description, not KashVector commentary

HCL Technologies Limited HCLTECH.NS

Technology · Information Technology Services

Price
₹1,354.00
Market Cap
₹3663.61B
Free Cash Flow
₹173.01B
Beta
0.60
P/E (TTM)
21.0x
52-Week Range
₹1,030.00–₹1,780.10

HCL Technologies Limited's price & financial trends

Each card is labelled with its own reporting period — quarterly where Yahoo provides it for this market, annual otherwise.

Data as at 2026-08-14

Share price · last 2 years

₹1,354.00 -23% vs 2024-08
NIFTY 50 ₹1,753.25₹1,725.45₹1,728.60₹1,624.20₹1,199.10₹1,354.00 2024-082025-012025-062025-112026-042026-08

Earnings per share (diluted) Per quarter

₹17.06 +7% vs Q1 '25
₹15.88₹14.17₹15.05₹16.56₹17.06Q1 '25Q2 '25Q4 '25Q1 '26Q2 '26

Free cash flow Per year

₹185.53B +13% vs FY23
₹163.48B₹214.00B₹211.53B₹185.53BFY23FY24FY25FY26

Dividend per share Per year

₹53.90 +12% vs FY23
₹47.94₹51.86₹59.89₹53.90FY23FY24FY25FY26

Value investing scale · Buffett · Dalio · Graham

Strong Fit
17 / 20 combined score

See the full Buffett, Dalio & Graham breakdown for HCLTECH.NS →

Intrinsic value estimate · 5-year forecast

BEAR
₹741.81
vs current ₹1,354.00
-45.2% ❌ Overvalued
BASE
₹908.10
vs current ₹1,354.00
-32.9% ❌ Overvalued
BULL
₹1,135.08
vs current ₹1,354.00
-16.2% ⚠️ Fairly Valued

Assumptions used in this valuation

Every input below is either fetched live from Yahoo Finance or a documented default — nothing is hidden.

Starting free cash flow
₹173.01B
Reported free cash flow (Yahoo)
Risk-free rate
7.00% ● LIVE
Live 10-yr govt bond
Beta
0.60
Floored for non-US stocks
Equity risk premium
7.50%
Market-specific seed
Cost of debt
7.60%
Synthetic rating AAA, ICR 47.0x
Tax rate
25.00%
Estimated default
Capital structure
E 99% / D 1%
Market cap vs total debt
Projection horizon
5 years
+ terminal value beyond
BearBaseBull
5-yr FCF growth2.9%5.7%8.6%
Terminal growth2.5%2.5%2.5%
WACC (discount rate)12.42%11.42%10.42%

Cost of Equity = Risk-free rate + Beta × Equity Risk Premium = 7.00% + 0.60 × 7.50% = 11.50% · WACC = weighted by 99%/1% capital structure

These numbers come from running HCL Technologies Limited's cash flows through the mechanical DCF formula and assumptions above — not from any view on the news, management, or HCLTECH.NS's competitive position. What is DCF?

Want to test your own growth or discount-rate assumptions?Open the full interactive calculator, pre-filled with HCLTECH.NS →

More NIFTY 500 stocks we've valued

Not financial advice. DCF valuations are highly sensitive to assumptions — small changes in growth rate or discount rate produce large swings in output. This is a mechanical calculation, not a recommendation to buy, hold, or sell.

About this valuation

Computed on 2026-08-14 from Yahoo Finance data, using the same engine as the full DCF tool and the NIFTY 500 Most Undervalued screen. Every figure above is a point-in-time snapshot of that date — change any assumption yourself in the interactive tool for a live one.

Frequently asked questions

Is HCL Technologies Limited (HCLTECH.NS) undervalued?

The Base-case DCF estimates intrinsic value at ₹908.10 vs a price of ₹1,354.00 on 2026-08-14 — a -32.9% margin, so the Base case reads overvalued. This is a mechanical output, not advice.