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Strong Q2, services guidance upgrade positive for HCLTech
Business Standard
|October 15, 2025
HCLTechnologies’ (HCLTech) Q2FY26 performance was strong across most parameters.
Revenues grew 2.4 per cent sequentially on a constant currency basis with the core services segment up 2.5 per cent.
In software, growth was better in annuity revenues, such as subscriptions and support, though perpetual licences dragged.
Margins were at 17.4 per cent. Net new deal wins were $2.6 billion, up 16 per cent year-on-year (Yo-Y) ($1.8 billion in Q1FY26) with two large deals.
The growth in top 10 accounts was below the overall company growth at 1.5 per cent quarter-on-quarter (Q-o-Q).
The earnings per share (EPS), at ₹15.6, was flat Yo-Y.
Advance artificial intelligence (AI) revenues, disclosed for the first time, are clocking $400 million in annual recurring revenue.
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