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HCL Technologies Ltd
NSE:HCLTECH

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HCL Technologies Ltd
NSE:HCLTECH
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Price: 1 200.4 INR 0.37% Market Closed
Market Cap: ₹3.2T

P/S

2.6
Current
27%
Cheaper
vs 3-y average of 3.5

Price to Sales (P/S) ratio shows how much investors pay for each dollar of a company`s sales. It`s calculated by dividing the company`s market value by its total revenue.

P/S
2.6
=
Market Cap
₹3.4T
/
Revenue
₹1.3T

Price to Sales (P/S) ratio shows how much investors pay for each dollar of a company`s sales. It`s calculated by dividing the company`s market value by its total revenue.

P/S
2.6
=
Market Cap
₹3.4T
/
Revenue
₹1.3T

Valuation Scenarios

HCL Technologies Ltd is trading below its 3-year average

If P/S returns to its 3-Year Average (3.5), the stock would be worth ₹1 640.37 (37% upside from current price).

Statistics
Positive Scenarios
4/4
Maximum Downside
No Downside Scenarios
Maximum Upside
+42%
Average Upside
28%
Scenario P/S Value Implied Price Upside/Downside
Current Multiple 2.6 ₹1 200.4
0%
3-Year Average 3.5 ₹1 640.37
+37%
5-Year Average 3.3 ₹1 558.84
+30%
Industry Average 3.6 ₹1 706.71
+42%
Country Average 2.6 ₹1 224.87
+2%

Forward P/S
Today’s price vs future revenue

Today's Market Cap Revenue Forward P/S
₹3.4T
/
Apr 2026
₹1.3T
=
2.6
Current
₹3.4T
/
Mar 2027
₹1.4T
=
2.4
Forward
₹3.4T
/
Mar 2028
₹1.5T
=
2.2
Forward
₹3.4T
/
Mar 2029
₹1.6T
=
2.1
Forward

Forward P/S shows whether today’s P/S still looks high or low once future revenue are taken into account.

Peer Comparison

All Multiples
P/S
P/E
All Countries
Close
Market Cap P/S P/E
IN
HCL Technologies Ltd
NSE:HCLTECH
3.2T INR 2.6 20
US
International Business Machines Corp
NYSE:IBM
218.6B USD 3.1 19.9
JP
BrainPad Inc
TSE:3655
20.9T JPY 4.8 551.4
IE
Accenture PLC
NYSE:ACN
109.3B USD 1.5 14.3
IN
Tata Consultancy Services Ltd
NSE:TCS
8.8T INR 3.4 18.7
IN
Infosys Ltd
NSE:INFY
4.7T INR 2.8 17.1
JP
Fujitsu Ltd
TSE:6702
6.5T JPY 1.9 13.6
JP
NEC Corp
TSE:6701
5.9T JPY 1.7 24.1
JP
NTT Data Group Corp
DUS:NT5
30.3B EUR 1.2 38.8
JP
NTT Data Corp
TSE:9613
5.6T JPY 1.2 39.1
US
Cognizant Technology Solutions Corp
NASDAQ:CTSH
26.4B USD 1.2 11.8

Market Distribution

In line with most companies in India
Percentile
49th
Based on 2 983 companies
49th percentile
2.6
Low
0 — 1.5
Typical Range
1.5 — 4.6
High
4.6 —
Distribution Statistics
India
Min 0
30th Percentile 1.5
Median 2.6
70th Percentile 4.6
Max 56 363.4

HCL Technologies Ltd
Glance View

In the sprawling tapestry of India's technological ascent, HCL Technologies Ltd. stands out as a quintessential success story, threading the intricate fabric of digital innovation and business solutions. Born out of the visionary acumen of its founder, Shiv Nadar, HCL started its journey in the late '70s as a hardware-focused company. Over the decades, it evolved, adapting to the fast-paced demands of the IT and business landscape. Today, HCL operates as a multinational IT services conglomerate, spreading its influence across over 50 countries. The company's core operations involve providing a wide array of services encompassing IT and business consulting, system integration, and outsourcing. In an ever-connected global economy, it helps businesses harness technology through its cutting-edge services in areas such as cloud computing, cybersecurity, and digital transformation. The company's business model is built on creating reliable partnerships with clients across varied sectors, including healthcare, financial services, manufacturing, and telecommunications. HCL makes money primarily through multi-year contracts that deliver value through innovation and operational efficiency. It focuses on nurturing relationships with Fortune 500 companies, emphasizing co-innovation and customized solutions. Its commitment to a "Mode 1-2-3" strategy — which emphasizes core services, next-gen transformational services, and products and platforms — allows HCL to secure a foothold in a swiftly evolving market. By consistently reinvesting in talent and technology, HCL maintains its competitive edge, ensuring sustainable growth while driving transformative outcomes for its clients.

HCLTECH Intrinsic Value
1 362.96 INR
Undervaluation 12%
Intrinsic Value
Price ₹1 200.4
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