HCL Tech shares to turn ex-date for dividend today; key details

Shares of HCL Technologies Ltd (HCL Tech) will turn ex-date for dividend on Monday. The IT major had announced an interim dividend of Rs 18 per share for FY25. Monday is the record date for the purpose of determining eligible HCL Tech shareholders. All eligible shareholders of the IT firm with their names in the list at the end of record date will be eligible to receive dividend. The actual payment will be made on May 6. 

Before this, HCL Technologies had announced an interim dividend of Rs 12 and a special dividend of Rs 6 for FY25. The record date for the said dividend was January 17. 

HCL Tech declared a dividend of Rs 52 per share in FY24, totalling Rs 14,080 crore. Its dividend yield for the year stood at 3.37 per cent. In FY23, the IT firm announced Rs 12,995 crore or Rs 48 per share worth dividends and had a dividend yield of 4.42 per cent.  In FY22, total dividend payout stood at Rs 11,391 crore after the IT major announced Rs 42 per share in total dividend.   

Th IT major recently delivered an inline quarter, but the revenue guidance of 2-5 per cent in constant currency terms seemed optimistic against the backdrop of a deteriorating macro and vulnerable portfolio of business, even as one acknowledges strong deal wins, Kotak Institutional Equities said.

"The company had done well in the past two years on the back of mega deals ramping up but requires more to support strong growth. We cut FY2025-27 EPS estimates by 2-5 per cent and retain REDUCE rating. The Fair Value of Rs 1,500 is based on 21 times multiple on FY2027E EPS," Kotak said.

PL Capital said the stock is currently trading at marginal discount to 1-year forward multiples of its comparable peers. but considering direct exposure to tariff-sensitive verticals and challenging ER&D outlook, it downgrade the scrip to 'Hold' from 'Accumulate' earlier.

HCL Tech expects productivity benefits of up to 50 per cent in BPO and 20-25 per cent in software development.
The IT company believes clients may need to modernise infrastructure, increase cloud migration efforts
and develop a strong data foundation. It is compensating for the deflationary impact of GenAI through wallet share gains in its accounts, Nomura said.

"We cut our FY26-27F EPS by 2 per cent and target from Rs 1,840 (based on 25x FY27F EPS) to Rs 1,670 (23x FY27F EPS), acknowledging rising macro uncertainty risks. Our target multiple is based on a three-stage growth model," it said.