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HCL Tech Q2 Preview: Analysts Expect Growth, Margin Gains
HCL Technologies is getting ready to report how its business performed in the second quarter.
The report is expected after the Indian stock market closes on October 12.
Experts think the company’s revenue probably grew compared with the previous quarter.
They also expect its profit margin to improve, though they do not agree on how much.
Their estimates for profit growth are different too.
Some analysts think HCL may change its forecast for the full financial year, while others expect it to keep its guidance near the middle of its existing range.
The article also lists dividends the company paid in the previous three financial years.
These are forecasts from analysts, not the company’s announced results.
HCL Technologies is scheduled to announce its Q2FY27 results after Indian markets close on Monday, October 12.
Analysts forecast sequential revenue growth of roughly 2.4% to 3%, with acquisitions contributing to services growth.
Brokerage estimates for EBIT margin expansion range from about 70 to 120 basis points.
Profit-after-tax estimates differ: Nuvama expects 15.9% year-on-year growth, while Motilal Oswal expects 21.3%.
Analysts disagree on FY27 guidance changes; reported past dividends were ₹54 per share in FY26, ₹60 in FY25 and ₹52 in FY24.
- Who
- HCL Technologies and analysts covering the company.
- What
- Analysts previewed expected Q2FY27 revenue, margins, profit, guidance and dividends ahead of the company’s results announcement.
- Where
- HCL Technologies is headquartered in Noida, India.
- When
- The results are scheduled for Monday, October 12, after Indian stock markets close.
- Why
- Investors are watching the announcement for the company’s quarterly performance and any changes to FY27 guidance.
Analyst view
Other analyst view
FY27 guidance
Analyst view
Nuvama expects HCL Technologies to revise its FY27 guidance.
Other analyst view
PL Capital expects the company to maintain the mid-range of its FY27 organic guidance.
Profit growth
Analyst view
Nuvama forecasts PAT growth of 15.9% year-on-year.
Other analyst view
Motilal Oswal forecasts PAT growth of 21.3% year-on-year.
EBIT margin expansion
Analyst view
Nuvama expects quarterly expansion of about 70 basis points.
Other analyst view
Motilal Oswal expects about 120 basis points of expansion, to roughly 18.1%.
Key facts
- Quarter covered
- Q2FY27, ending in September 2026
- Expected revenue growth
- PL Capital forecasts 2.4% sequential growth in constant-currency terms; Motilal Oswal forecasts 3% growth in services revenue.
- Expected EBIT margin
- Nuvama expects about 70 basis points of quarterly expansion; Motilal Oswal expects 120 basis points to about 18.1%.
- Expected PAT growth
- Nuvama forecasts 15.9% year-on-year and 6.2% sequential growth; Motilal Oswal forecasts 21.3% year-on-year growth.
- FY27 guidance views
- Nuvama expects a guidance revision; PL Capital expects the company to maintain the middle of its organic guidance range.
- Past dividends
- ₹54 per share in FY26, ₹60 in FY25 and ₹52 in FY24.
- Brokerage ratings and targets
- Motilal Oswal: Buy, ₹1,450; PL Capital: Hold, ₹1,230; Nuvama: Hold, ₹1,250.
Quotes
Motilal Oswal Financial Services
Financial services firm that issued an HCL Technologies earnings forecast.
“We expect HCLT revenue to increase by 2.4% QoQ in CC & 2.3% in USD terms, with 1.2% QoQ CC organic growth & contribution from Jaspersoft and HPE acquisitions.”
livemint.com
“EBIT margin is expected to expand ~120bp QoQ to ~18.1%, in line with the usual 2Q seasonal improvement, as we do not expect incremental investment headwinds.”
livemint.com
Sources
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