Whalesbook
Profit mein increase, par margins par pressure?
Yaar, jab results dekhe toh profit mein 10.11% ka jump dikha last quarter se, jo ki ₹4,488 crore bana hai. Revenue lagbhag stable raha, bas 0.3% upar gaya. Par asli drama margins mein hua. EBIT 10.6% gir gaya, matlab ₹5,620 crore pe aa gaya. Iski wajah se operating margins 16.54% ho gaye, jo pehle 18.56% the. Company ne bola ki clients ne spending kam kar di hai aur kuch software business bhi weak hai.
Stock ka kya hua? NSE pe ₹1,439 pe close hua tha, thoda upar neeche ho raha tha ₹1,445 tak, volume bhi theek tha. Lekin investors thoda soch samajh ke chal rahe hain.
Badi Companies se comparison aur Sector ka haal
Badi IT companies ki baat karein toh TCS ne toh 5% revenue growth dikhaya aur margins bhi mast rakhe. Lekin HCLTech ke liye yeh quarter mix raha. Infosys aur Wipro bhi kuch aise hi margin pressure se guzar rahe hain. Sector mein growth bhi thoda dheema hone ka andaza hai 8-10% FY27 ke liye, toh AI aur digital services hi ab game changer banenge.
Analysts kya bol rahe hain?
Brokers ki rai mili-juli hai. JPMorgan ne 'Neutral' rating rakhi hai aur target ₹1500 diya hai, margin ki chinta hai unko. Lekin Morgan Stanley ne 'Overweight' kar diya aur target ₹1600 de diya, kyunki unko HCLTech ka AI business future mein bahut powerfull lag raha hai.
Aage ka rasta aur AI ka Role
Company ne bola ki abhi filhal demand kaafi slow rehne wali hai, clients wait kar rahe hain. Par yeh sabse zyada AI business pe focus kar rahe hain. Abhi AI se saal ka $620 million se zyada ka revenue aa raha hai, jo future mein company ko bahut aage le ja sakta hai. Chairperson Roshni Nadar Malhotra ne kaha hai ki company change ke hisaab se apne services adjust kar rahi hai aur shareholder value badhane pe kaam kar rahi hai.