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Q1FY22 Result Update - HCL Technologies - ICICI Direct

Posted On: 2021-07-22 06:53:14 (Time Zone: UTC)


HCLT reported weak Q1FY22 results.

- Revenue increased 0.7% QoQ in CC terms below our estimates

- EBIT margin was at 19.6% below our estimate of 20.5%

- Total net new deal TCV was at US$1664 million

Key triggers for future price performance

- Plans to tap the US$300 billion cloud opportunity by 2023; considering the company's expertise in Infrastructure Management Services (IMS) & app modernisation and focus on integrated deals

- Expects healthy double digit growth in revenues in FY22E mainly led by improved growth in IT & business services and ER&D

- Improvement in large deal wins, expansion in geographies, investment in sales & capabilities, we expect HCLT to register 11.7% CAGR in FY21-23E

For details, click on the link below: Link to the report

Shares of HCL TECHNOLOGIES LTD. was last trading in BSE at Rs. 977.3 as compared to the previous close of Rs. 1000.2. The total number of shares traded during the day was 570227 in over 22111 trades.

The stock hit an intraday high of Rs. 1008 and intraday low of 969.5. The net turnover during the day was Rs. 558043703.


Source: Equity Bulls

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