InvestorQ : What is quick take on the Mar-22 quarter results of HCL Technologies?
Moii Chavate made post

What is quick take on the Mar-22 quarter results of HCL Technologies?

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Tisha Malhotra answered.
3 weeks ago
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For the Mar-22 quarter, HCL Technologies reported 15.05% higher sales revenues at Rs.22,597 crore on consolidated basis, but flat on sequential basis. Dollar revenues were up 1.1% sequentially and 13.3% yoy in constant currency. For FY23, the constant currency revenue growth guidance is pegged at 12-14%. Products and platforms had the best EBIT margins at above 24% followed by ERS at 19% and ITES at below 17%.

HCL Technologies

Rs in Crore

Mar-22

Mar-21

YOY

Dec-21

QOQ

Total Income (Rs cr)

₹ 22,597.00

₹ 19,641.00

15.05%

₹ 22,331.00

1.19%

EBITDA (Rs cr)

₹ 4,069.00

₹ 3,281.00

24.02%

₹ 4,257.00

-4.42%

Net Profit (Rs cr)

₹ 3,593.00

₹ 1,102.00

226.04%

₹ 3,442.00

4.39%

Diluted EPS (Rs)

₹ 13.26

₹ 4.06

₹ 12.69

EBITDA Margins

18.01%

16.70%

19.06%

Net Margins

15.90%

5.61%

15.41%

  

Net profits for Q4 were up 226% at Rs.3,593 crore, which can be misleading as it was due to sharply deferred tax write-off in Mar-21 quarter. Sequential profit growth was a more reasonable 4.39%. EBITDA margins for Q4 was 22.3% while the EBIT margins stood at 17.9%. HCL Tech has provided EBIT margin guidance for FY23 at 18-20%. Net margins were 15.90% in Mar-22 quarter compared to 5.61% in Mar-21. NPM was higher by 49 basis points on a sequential basis, compared to Dec-21 quarter.

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