HCL Technologies (NSE:HCLTECH) ROCE %: 28.15% (As of Mar. 2026)


NSE:HCLTECH HCL Technologies Ltd NSE:HCLTECH
82 GF Score
Price ₹1,109.50
GF Value ₹1,777.02
Valuation Significantly Undervalued
! 4 Warning Signs
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What is HCL Technologies ROCE %?

HCL Technologies NSE:HCLTECH -1.86% 82 ROCE % is 28.15% as of Mar. 2026. GuruFocus rates NSE:HCLTECH with a GF Score™ of 82/100 and a GF Value™ of ₹1,777.02 (Significantly Undervalued). The stock has 4 warning signs investors should review.

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. HCL Technologies's annualized ROCE % for the quarter that ended in Mar. 2026 was 28.15%.

HCL Technologies  (NSE:HCLTECH) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

HCL Technologies ROCE % Related Terms

HCL Technologies ROCE % Historical Data

* Premium members only.

The historical data trend for HCL Technologies's ROCE % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

HCL Technologies ROCE % Chart

HCL Technologies Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
ROCE %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 24.84 27.90 28.88 30.93 28.37

HCL Technologies Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
ROCE % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 30.40 27.86 29.68 28.67 28.15
NSE:HCLTECH
82GF Score
HCL Technologies Ltd NSE:HCLTECH
ROCE % is just one metric. See GF Score™, valuation, warning signs, and more.
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HCL Technologies ROCE % Calculation

HCL Technologies's annualized ROCE % for the fiscal year that ended in Mar. 2026 is calculated as:

ROCE %=EBIT/( (Capital Employed+Capital Employed)/ count )
(A: Mar. 2026 )  (A: Mar. 2025 )(A: Mar. 2026 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(A: Mar. 2026 )  (A: Mar. 2025 )(A: Mar. 2026 )
=229710/( ( (1055440 - 280390) + (1162580 - 318260) )/ 2 )
=229710/( (775050+844320)/ 2 )
=229710/809685
=28.37 %

HCL Technologies's ROCE % of for the quarter that ended in Mar. 2026 is calculated as:

ROCE %=EBIT (1)/( (Capital Employed+Capital Employed)/ count )
(Q: Mar. 2026 )  (Q: Dec. 2025 )(Q: Mar. 2026 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(Q: Mar. 2026 )  (Q: Dec. 2025 )(Q: Mar. 2026 )
=237680/( ( (0 - 0) + (1162580 - 318260) )/ 1 )
=237680/( ( 0 + 844320 )/ 1 )
=237680/844320
=28.15 %

(1) Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about ROCE % →
What does a ROCE % of 28.15% mean?
HCL Technologies (NSE:HCLTECH) has a ROCE % of 28.15% as of Mar. 2026.
Is HCL Technologies' ROCE % too high?
HCL Technologies' current ROCE % is 28.15%. The Software industry median ROCE % is 5.28. HCL Technologies' value of 28.15% is 433.1% above this industry median. Overall, HCL Technologies has a GF Score™ of 82/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does HCL Technologies' ROCE % compare to IBM and ACN?
HCL Technologies' ROCE % of 28.15% can be compared against companies in the Software industry. The industry median ROCE % is 5.28. HCL Technologies' value of 28.15% is 433.1% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROCE % for a Software company?
The median ROCE % among Software companies is 5.28, based on 2,711 companies in the industry. Companies in the top quartile (top 25%) have a ROCE % significantly above this median, while those in the bottom quartile fall well below. However, ROCE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. HCL Technologies's current ROCE % of 28.15% is 433.1% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high ROCE % mean?
A high ROCE % can signal that a stock is expensive relative to its fundamentals. For the Software industry, the median ROCE % is 5.28 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. HCL Technologies's current ROCE % is 28.15%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is HCL Technologies stock overvalued right now?
Based on GuruFocus' analysis, HCL Technologies (NSE:HCLTECH) is currently considered Significantly Undervalued. The stock's GF Value™ is ₹1,777.02, compared to a current price of ₹1,109.50 — trading 37.6% below its estimated fair value. The current ROCE % is 28.15% and 433.1% above the Software industry median of 5.28. HCL Technologies' overall GF Score™ is 82/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROCE % calculated?
ROCE % is calculated from a company's financial statements. For HCL Technologies (NSE:HCLTECH), the current ROCE % is 28.15% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is HCL Technologies (NSE:HCLTECH) Overvalued in 2026?

Based on GuruFocus' analysis, HCL Technologies stock appears to be undervalued. The current stock price of ₹1,109.50 is trading 37.6% below its estimated GF Value™ of ₹1,777.02. GuruFocus considers HCL Technologies to be Significantly Undervalued.

Key valuation signals for NSE:HCLTECH:

  • ROCE %: 28.15%
  • GF Value™: ₹1,777.02 vs. price of ₹1,109.50 (37.6% below fair value)
  • GF Score™: 82/100 with 4 warning signs
  • Industry Position: 433.1% above the Software median

No single metric tells the full story. See the NSE:HCLTECH stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

HCL Technologies Business Description

Other Exchanges 532281:India
Address Sector 126, Special Economic Zone, Plot No. 3A, Technology Hub, Noida, UP, IND, 201304
HCL Technologies Ltd provides enterprises with IT solutions. It focuses on offering Digital, Internet of Things, Cloud, Automation, Cybersecurity, Infrastructure Management, and Engineering services to solve business problems for clients. It offers solutions to a variety of industries, including Financial Services, Public Services, Consumer Services, Healthcare, and Manufacturing. It operates in three segments: IT and Business Services, Engineering and R&D Services, and HCL Software. The firm emphasizes consultation services for firms, intending to offer them digital and design solutions. The majority of the firm's revenue comes from the IT and Business Services segment. Geographically, it derives maximum revenue from the USA, and the rest from Europe, India, and the Rest of the world.
82GF Score

Get the complete analysis for NSE:HCLTECH

ROCE % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

₹1,109.50
Price
₹1,777.02
GF Value