HCL Tech Q2 Results FY25-26 highlights: IT major HCL Technologies announced its second quarter results today. The company reported a net profit of Rs 4,236 crore, broadly unchanged from the year-ago period. However, on QoQ basis, the company reported an increase of 10.2% Vs net profit of Rs 3,844 crore in Q1FY26.
HCLTech has kept the FY26 revenue and margin guidance unchanged. The company’s management highlighted that the tech major is looking to reduce reliance on H-1B visa and increase local hiring. The company aims to roll out increments effective October.
HCLTech announced third dividend this fiscal
HCLTech has declared an interim dividend of Rs 12 per equity share of face value Rs 2 each for the financial year 2025–26. The record date to determine eligible shareholders is October 17, 2025, and the dividend will be paid on October 28, 2025.
HCL Tech Q2 Earnings Highlights, HCL Tech Q2FY26 Results:
HCL Tech Q2 Results LIVE Updates: HCLTech’s FY26 growth guidance achievable, says Elara Capital
Elara Capital said, "In our view, the implied revenue CQGR is within 0.5-3% for the lower and upper ends of FY26 revenue growth guidance, which is not challenging, considering a seasonally strong Q3 for HCLTech. We have cut our target price to Rs 1,445, based on 21x FY27 estimated P/E.”
HCL Tech Q2 Results LIVE Updates: HCLTech closes two large deals as demand stays steady across verticals
Nomura noted that HCLTech saw steady demand conditions across most verticals during the quarter. HCLTech's net new deal wins came in at $2.56 billion, up 15.8% year-on-year and 41.8% quarter-on-quarter. The company closed two large deals that were delayed from the previous quarter and said its deal pipeline remains strong, driven by advanced AI offerings.
HCL Tech Q2 Results LIVE Updates: AI revenue now 3% of total as HCLTech expands GenAI offerings
Nomura highlights that HCLTech is ramping up its focus on artificial intelligence (AI) services while staying asset-light.
HCLTech booked around $100 million in advanced AI revenue during the quarter, which accounts for nearly 3% of total revenue.
“We think HCLT’s strategy to remain asset light while focusing on services in the GenAI world is a step in the right direction,” the brokerage said in its report.
“We expect US dollar revenue growth rate of 5.9% in FY26-27F,” Nomura forecasts.
The report by Nomura noted that the HCLTech’s revenue of $ 3,644 million in Q2FY26, a growth of 2.4% quarter-on-quarter and 4.6% year-on-year in constant currency was ahead of Nomura’s and Street expectations.
HCL Tech Q2 Results LIVE Updates: Nomura expects HCLTech to post 5.9% revenue growth in FY26–FY27
Nomura expects HCLTech to deliver an EBIT margin of 17.3% in FY26 and 17.9% in FY27. The brokerage has projected a US dollar revenue growth of around 5.9% between FY26 and FY27. It continues to maintain a ‘Buy’ rating on the stock and has revised the target price to Rs 1,660 from Rs 1,650 earlier, implying an upside of 11% from the current market price of Rs 1,495.
HCL Tech Q2 Results LIVE Updates: Share price of HCLTech after Q2 announcement
The share price of HCLTech opened slightly higher by 1.49% from the previous close after the company announced its second-quarter results on October 13, after market hours. The stock has gained 5.69% in the past six months.
HCL Tech Q2 Results LIVE Updates: EBIT margins rise 116 bps; restructuring costs weigh partially
JM Financial said that HCLTech’s EBIT margin improved, aided by better utilisation, foreign exchange gains, improved software margins, and the absence of one-off costs. However, restructuring expenses partially offset these gains.
“EBIT margins rose by 116 basis points quarter-on-quarter to 17.4%, slightly higher than JM Financial and consensus estimates of 17.1%. The improvement was driven by better margins in the software segment (+30 bps), absence of one-off impact this quarter (+30 bps), higher employee utilisation (+50 bps), and favourable currency movement (+56 bps). These gains were partly offset by restructuring costs (-55 bps),” JM Financial said.
HCL Tech Q2 Results LIVE Updates: Aims to cut reliance on H-1B visas
Q2 Results Today LIVE: HCLTech Managing Director C. Vijayakumar said the company has been making a “conscious effort” to reduce its dependence on visas.
“Over the years, we have made a conscious effort to lower our reliance on visas by strategically strengthening our global delivery model,” Vijayakumar said, addressing concerns over the recent H-1B visa revision and its potential impact on the company.
HCL Tech Q2 Results LIVE Updates: Company announced salary increment
HCLTech’s Chief People Officer, Ram Sundararajan, said the IT major will begin rolling out annual salary increments from October 2025, following the same process as last year.
“We have decided to roll out the increments effective October and will follow the same procedure as last year for implementing the process,” Sundararajan said.
• INR Revenue of ₹31,942 Crores, up 5.2% QoQ & up 10.7% YoY
• Constant Currency (CC) Revenue up 2.4% QoQ & up 4.6% YoY
• USD Revenue of $3,644M, up 2.8% QoQ & up 5.8% YoY
HCL Tech Q2 Results LIVE Updates: Revenue and EBIT Margin guidance for FY26 unhanged
HCL Tech FY26 Guidance
-Revenue growth expected to be between 3.-5% YoY in CC
-Services Revenue growth expected to be between 4-5% YoY in CC
-EBIT margin expected to be between 17.-18%
The IT major’s total income stood at Rs 32,357 crore, up from Rs 30,805 crore in Q1FY26.
HCL Tech Q2 Results LIVE Updates: FY26 guidance
For FY26, HCLTech maintained its revenue growth guidance at 3%–5% year-on-year in constant currency. It expects services revenue to grow between 4%–5%, with the EBIT margin projected in the 17%–18% range.
FY26 Guidance
• Company Revenue growth expected to be between 3.0% - 5.0% YoY in CC
• Services Revenue growth expected to be between 4.0% - 5.0% YoY in CC
• EBIT margin to be between 17.0% - 18.0%
HCLTech said its Advanced AI business crossed $100 million in quarterly revenue, reflecting the growing demand for its AI-powered offerings. Digital revenue grew 15% year-on-year and now contributes 42% of the company’s services revenue.
CVijayakumar, CEO & Managing Director HCLTech said in a statement released by the company, “A standout quarter on every front — marked by strong execution, growing demand for our AI-powered solutions, and Advanced AI revenue exceeding $100M this quarter."
"Our revenue grew 2.4% sequentially in constant currency with a strong recovery of operating margin to 17.5%. For the first time, our new bookings surpassed $2.5 billion, without reliance on any mega-deal. We added 3,489 people to our employee base while continuing to increase our revenue per employee 1.8% YoY aligned with our AI growth strategy,” he added
HCL Tech Q2 Results LIVE Updates: Chairperson Roshni Nadar emphasises innovation-led strategy
Roshni Nadar Malhotra, Chairperson of HCLTech, said in a statement released by the company, “We continue to perform well despite the uncertain business environment and are investing in new technologies and capabilities to unlock growth opportunities. The upskilling of our global talent base remains a key priority and an enabler of innovation for our clients.”
HCL Tech Q2 Results LIVE Updates: Key highlights (Part-2)
* EBIT Up 11.3% at Rs 5,503 crore Vs Rs 4,942 crore (QoQ)
*Margin at 17.25% Vs 16.3% (QoQ)
* LTM Attrition at 12.6%, (down from 12.9% in Q2 of last year)
* Total People Count at 226,640; Net addition: 3,489
* TCV (New Deal wins) at $2,569M, up 41.8% QoQ & up 15.8% YoY
HCLTech has announced an interim dividend of Rs 12 per equity share of Rs 2 each for the financial year 2025–26. The record date for determining eligible shareholders is October 17, 2025, and the dividend will be paid on October 28, 2025.
"The Board of Directors has declared an Interim Dividend of Rs. 12/- per equity share of Rs. 2/- each of the Company for the Financial Year 2025-26. "
This is the third interim dividend announced by the company in the current financial year.
“On a sequential basis, HCLTech’s net profit increased by 10.2% to Rs 4,236 crore from Rs 3,844 crore in Q1FY26. Revenue from operations rose 5.25% QoQ to Rs 31,942 crore from Rs 30,349 crore in the June quarter.
Major IT firm HCLTech announced its second quarter results today. The company reported revenue from operations at Rs 31,942 crore, up 10.67% YoY. Net profit recorded at Rs 4,236 crore Vs Rs 4,237 crore in the same quarter previous year (Q2FY25)
HCL Tech Q2 Results LIVE Updates: Axis Securities sees revenue growth at 3% QoQ
As per Axis Securities, HCL Technologies’ consolidated revenue is expected to rise around 3% sequentially in Q2 FY26, driven by healthy traction in BFSI and Hi-tech verticals. Growth is likely to be broad-based across engineering and cloud services, while discretionary projects remain under scrutiny.
The focus will also be on AI adoption. HCLTech CEO and Managing Director C. Vijayakumar said in the Q1 results statement that the company’s AI offerings are gaining strong traction with clients and have been further strengthened through its partnership with OpenAI.
“Our pipeline continues to grow as the demand environment remained stable during the quarter,” he added.
HCL Tech Q2 Results LIVE Updates: Equirus Securities forecasts modest growth outlook for IT majors
For HCLTech, Equirus expects no revisions to its CC revenue growth guidance of 3–5% (approximately 2–4% organically) for both Services and consolidated US dollar sales. The firm also expects the company to maintain its consolidated EBIT margin outlook of 17–18% for FY26E.
Investors will also watch for full-year guidance. In Q1FY26, the company had projected
* Overall revenue growth of 3.0–5.0% year-on-year in constant currency (CC).
* Services revenue growth of 3.0–5.0% year-on-year in CC
* EBIT margin in the range of 17.0–18.0%.
HCL Tech Q2 Results LIVE Updates: Stock price closes in red
HCLTech share price ended slightly lower ahead of its Q2 earnings release, slipping 0.09% to Rs 1,494.10 per share on the NSE.
HCL Tech Q2 Results LIVE Updates: H-1B visa impact on HCLTech
Elara Securities says HCLTech could face a 5.9% impact on FY27 earnings and 5.4% in FY28 if visa issuance levels remain the same as FY25. It is important to note that the US has recently increased the fee for new H-1B visas to $100,000.
HCL Tech Q2 Results LIVE Updates: HCLTech to consider third interim dividend
HCLTech to consider declaring the third interim dividend for the financial year 2025–26.
“We would like to inform you that a meeting of the Board of Directors of the Company is scheduled to be held on Monday, October 13, 2025 to consider amongst others: 1) Un- audited Financial Results of the Company for quarter and half-year ending September 30, 2025. 2) Payment of 3rd Interim dividend for the financial year 2025-26,” HCLTech said in its BSE filing.
HCL Tech Q2 Results LIVE Updates: Analyst expects strong TCV growth for HCL Tech
Equirius Securities said, “We don’t expect any change in HCL Tech’s FY26 revenue growth guidance of 3–5% (around 2–4% organic growth) for both the Services and overall business. Similarly, the company is likely to maintain its operating margin guidance of 17–18% for FY26. We expect strong Quarter-on-Quarter growth in deal TCV.”
HCL Tech Q2 Results LIVE Updates: Company to post higher margins despite one-time costs
Equirius Securities said, “We expect US dollar revenue growth of 1.5% quarter-on-quarter in constant currency terms. EBIT margins are expected to improve quarter-on-quarter by 58 basis points, largely due to currency benefits and seasonal strength, which will help offset the impact of certain one-time restructuring costs and investments.”
HCL Tech Q2 Results LIVE Updates: IT sector under pressure amid geopolitical issues
The IT sector is generally under pressure due to geopolitical issues. Anand Rathi said top IT firms are likely to see modest sequential growth amid continued uncertainty around US tariff policies.
“For Q2 FY26, we expect modest sequential CC growth across the top six IT players and most midcaps, amid a muted demand environment clouded by continued uncertainty around US tariff policies, which remain unchanged from Q1. While regulatory developments such as the revised H-1B visa norms are expected to have no near-term impact and only minimal medium-term implications, they are structurally positive in the long run, likely accelerating offshoring and nearshoring trends,” Anand Rathi said in its report.