Debasis Mohapatra
Bengaluru, 21 April 2026
HCLTech witnessed tepid revenue growth in fourth quarter of FY26 though its deal pipeline remained robust. The IT major posted a net profit of Rs 4,488 crore in Q4 FY26, an increase of 4.1% over the same period of last year.
Revenue of the company increased 12.3% to Rs 33,981 crore year-on-year basis. Revenue in dollar term was at $3.68 billion, a decline of 3.3% over the past quarter.
While IT & Business Services showed a growth of 0.1% sequentially, the engineering services segment posted a de-growth of 1.3%. The HCL Software segment posted a decline of 28.1% sequentially.
For FY26, revenue of India’s third largest IT services company was at $14.66 billion, which was a growth of 3.9% over FY25. Operating margin of the company was at 17.7% excluding restructuring.
“HCLTech delivered superior revenue growth of 3.9 per cent in constant currency, 10 bps below our guidance and 17.2 per cent operating margin within our guidance, in a year marked by uncertain demand environment. During the quarter, our performance came below our expectations due to softness in certain parts of our business due to lower discretionary spend and delayed decision making,” C Vijayakumar, CEO of HCLTech said.
The company said its annualised AI revenue crossed $620 million in the March quarter.
New deal wins for the fourth quarter was at $1.93 billion, while it was at $9.32 billion for FY26.
The company guided for a revenue growth of 1-4% for FY27 with revenue guidance of 1.5 to 4.5% for its services business.
Segment-wise growth in FY26:
| Particulars | % Contribution to Revenue | YoY Growth/ Fall |
| IT & Business Services | 73.8% | + 3.7% |
| ER&D Services | 17% | + 9.8% |
| HCL Software | 9.5% | – 4.1% |
