HCL Tech: Digital, Product Business Drove Q3 Margins, Says ICICI Direct
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ICICI Direct Report
HCL Technologies Ltd. reported healthy margins in Q3 FY21 and were above our estimates.
The company has also revised its margins guidance upwards from 20-21% in FY21E to 21-21.5%.
Revenues were in line with our estimate at 3.5% QoQ in constant currency terms, while margins were above our estimates.
The company has signed 13 transformational deals across industry verticals, including Life Sciences and Healthcare, Technology and Financial Services.
The company has declared a dividend of Rs 4 per share.
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