Whalesbook
Okay, toh numbers ki baat karein toh HCLTech ne Q4 FY26 mein ₹4,488 crore ka net profit report kiya hai, jo last year ke compare mein 4.2% zyada hai. Revenue bhi 12.3% badhkar ₹33,981 crore ho gaya hai. Lag raha hai sab mast chal raha hai, right?
Par Yahan Hai Asli Picture
Par yahan ek twist hai. Constant currency mein revenue growth sirf 3.9% raha, jo company ke target se kam hai. Aur sequential (pichhle quarter se) sales growth toh aur bhi slow, sirf 0.3% bada hai. Iska matlab samjho ki company ke profits par pressure aaya hai. Operating margins gir kar 16.54% ho gaye hain, jo pichhle quarter mein 18.56% the. EBIT bhi 10.6% down hai quarter-on-quarter.
Clients Ne Kasa Bandh Li Jeb?
Management ka kehna hai ki clients ab expenses kam kar rahe hain, aur decisions lene mein time laga rahe hain. Isliye demand thodi weak hai. Aage dekhein toh FY27 ke liye HCLTech ka revenue growth forecast 1-4% hi hai, jo kafi conservative hai. Matlab, company bhi thoda cautious hai next year ko lekar.
Dividend Aur Future Strategy
Aur haan, shareholders ke liye khushkhabri – company ne ₹24 ka interim dividend bhi declare kiya hai. Ab future kya hai? HCLTech AI par full focus kar raha hai. Unki annual AI revenues ab $620 million cross kar chuki hain. CEO kehte hain ki AI se next 20 saal tak value create hogi. Ye trends poore Indian IT sector mein dikh rahe hain; AI services grow karengi 12-15%, jabki old services ki demand kam ho rahi hai. Sector overall 6-7% grow kar sakta hai FY27 mein. Stock ki market cap ₹3.91 trillion hai aur P/E ratio 23.77 hai, jo historical average se zyada hai. Dividend yield around 3.75% hai.
Toh overall, HCLTech ne numbers toh dikhaye hain, par growth momentum aur margins mein pressure hai. Future AI par hai, but FY27 cautious rehne wala hai.