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Shares of HCL Technologies traded marginally higher on Tuesday ahead of its Q4 FY26 earnings announcement later in the day
HCL Tech Dividend
Shares of HCL Technologies traded marginally higher on Tuesday ahead of its Q4 FY26 earnings announcement later in the day.
As per NSE data, the stock was up 0.22% at Rs 1,431.20 in early trade.
HCL Tech is expected to report a mixed performance for the March quarter, with steady year-on-year growth but softer sequential numbers. Consensus estimates from multiple brokerages suggest revenue may rise around 14% YoY, while profit after tax is likely to increase about 9%.
On a quarter-on-quarter basis, however, constant currency revenue is expected to decline in the range of 0.8% to 1.7%. Brokerages such as Jefferies and Motilal Oswal Financial Services have projected declines of 1.6% and 0.9%, respectively.
The expected moderation is largely due to seasonal weakness in the software segment, which typically softens in the March quarter following a stronger December period. Analysts estimate software revenue could drop 22–23% sequentially.
In contrast, the company’s core services business is likely to remain resilient. IT services and ER&D segments are expected to grow 1–1.5% sequentially, supported by deal execution and demand from BFSI and high-tech clients.
Margins may face pressure due to annual wage hikes, restructuring costs, and softness in the software business. The results also come after relatively weak earnings reported by peer Wipro.
Apart from HCL Technologies, several companies are slated to announce their Q4 FY26 results today, including Nestlé India, Persistent Systems, 360 ONE WAM, Tata Investment Corporation, Tata Elxsi, and others.
The broader earnings season will also see key results from companies such as Infosys, Reliance Industries, Tech Mahindra, Trent Ltd, Axis Bank, and Adani Green Energy.
Ajit Mishra, SVP – Research at Religare Broking, said the market’s focus is now firmly on the Q4 earnings season. He noted that investors will initially react to results from banking heavyweights such as HDFC Bank and ICICI Bank, followed by key announcements from companies including HCL Technologies, Infosys, Tech Mahindra, Havells, IndusInd Bank, M&M Finance, and Shriram Finance.
He added that management commentary—particularly around margins and demand outlook—will be closely watched by the Street.
April 21, 2026, 11:05 IST
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