Information Technology · NSE: HCLTECH
Intrynsic's multi-model valuation estimates HCL Technologies Limited's fair value at ₹1,023 per share (range ₹453–₹1,193) against a market price of ₹1,222 - a gap of -16.3% (updated 29 September 2026). This is an estimated fair value based on stated assumptions, not investment advice.
Market price
₹1,222
close of 29 Sept 2026
Est. fair value
₹1,023
₹453–₹1,193
Gap
-16.3%
price vs estimate
Trading ~16% above our estimated fair-value range. Assumptions and per-model workings are below.
HCL Technologies is one of India's largest IT services companies, running software, engineering and infrastructure work for global clients. It also owns a portfolio of enterprise software products, unusual among Indian IT peers.
Information Technology · IT - Software
Over the last 3 years, revenue grew 8.7%/yr and profit grew 3.9%/yr.
Every ₹100 of shareholder money earned ₹22.2 in profit last year, vs a sector median of 9.9%.
It holds more cash than debt.
The market price is above our estimated fair-value range (based on stated assumptions).
About ₹113 of every ₹100 of reported profit turned into free cash (median, last 5 years); operating cash flow was positive in 5 of 5 years.
Intrynsic values HCL Technologies Limited with 4 independent models and blends them into one estimated fair-value range. Every number below is an estimate based on the stated assumptions - change the assumptions and the estimate changes.
| Model | Estimated value | vs price | Weight |
|---|---|---|---|
| DCFFuture Cash Flows Method | ₹1,023 | -16% | - |
| EV/RevenueRevenue Multiple Method | ₹1,394 | +14% | - |
| EV/EBITDAIndustry Comparison Method | ₹1,193 | -2% | - |
| DDMDividend Discount Method | ₹453 | -63% | - |
Reverse DCF: today's market price implies the company must grow free cash flow about 19.1% a year for the next decade - versus 11.0% historical revenue growth.
| Revenue | ₹1,30,144 Cr | |
| Net profit | ₹16,652 Cr | |
| EPS | ₹61.33 | |
| Free cash flow | ₹18,553 Cr | |
| ROE (latest) | 22.2% | |
| Revenue growth (CAGR) | 11.8% | |
| Profit growth (CAGR) | 7.6% |
Intrynsic's multi-model valuation estimates HCL Technologies Limited's fair value at ₹1,023 per share (range ₹453–₹1,193), last updated 29 September 2026. This is an estimate based on stated assumptions, not investment advice.
HCL Technologies Limited trades at ₹1,222 against Intrynsic's estimated fair value of ₹1,023 - the market price is 16% above the estimate, i.e. above our estimated fair-value range. Different assumptions produce different estimates; see the model breakdown above.
HCL Technologies Limited trades at about 19.9 times its latest annual earnings per share.
HCL Technologies is one of India's largest IT services companies, running software, engineering and infrastructure work for global clients. It also owns a portfolio of enterprise software products, unusual among Indian IT peers.
Intrynsic runs 4 valuation models for HCL Technologies Limited (DCF, EV/Revenue, EV/EBITDA, DDM) and blends them into one estimated fair-value range. Every assumption - growth, discount rate, terminal value - is shown openly on this page.
Disclaimer: Intrynsic provides educational and informational analysis only. Fair-value figures are estimates based on stated assumptions - they are not investment advice, research recommendations, or an offer to transact in any security. Intrynsic is not a SEBI-registered investment adviser or research analyst. Markets carry risk; please do your own research or consult a registered adviser before making investment decisions. Prices shown may be delayed end-of-day values. Terms · Privacy