| Intrinsic Valuation of: HCLTECH | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 64 | Market Cap | ₹4,683B | |||||
| 2021 | - | - (-) | P/E Ratio | 27 | Total Asset | ₹1,055B | |||||
| 2022 | ₹153B | - (-) | Net Income | ₹174B | Total Debt | ₹700M | |||||
| 2023 | ₹163B | 7.2% (-9.5%) | EBITDA | ₹280B | Total Liab | ₹359B | |||||
| 2024 | ₹214B | 30.9% (20.8%) | Opr Margin | 0.18 | Debt/Equity | 0.00 | |||||
| 2025 | ₹212B | -1.2% (-7.2%) | PreTax Margin | 17.75 | BV/Share | 151 | |||||
| 5Y Average FCF | ₹185B | 12.3% (1.4%) | |||||||||
| Overall Market Assumptions: | |||||||||||
| Assumptions: | P/E for No-Growth Company: | 7.0 | |||||||||
| Perpetual Growth Rate (g): | 2.5% | Historical US Bond Yield: | 4.4% | ||||||||
| Discount Rate (WACC): | 7.4% | Current US Bond Yield: | 3.5% | ||||||||
| Forcasting Future Free Cash Flow for next 6Y | Modified Benjamin Graham's Intrinsic Value | ||||||||||
| Year | FCF Projection (12.3%) | ||||||||||
| 2026 | ₹238B | MBG Intrinsic Value | ₹573 | ||||||||
| 2027 | ₹267B | ||||||||||
| 2028 | ₹300B | ||||||||||
| 2029 | ₹336B | ||||||||||
| 2030 | ₹378B | ||||||||||
| 2031 | ₹424B | ||||||||||
| Terminal Value | ₹8,823B | Net Worth/Share | ₹257 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | ₹7,226B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | ₹82B | ₹2,698 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | ₹700M | WACC | 7.3% | 2,365 | 2,542 | 2,756 | 3,019 | 3,350 | |||
| Equity Value | ₹7,308B | 7.4% | 2,344 | 2,517 | 2,726 | 2,983 | 3,306 | ||||
| Shares Outstanding | 2,708,910,080 | 7.4% | 2,323 | 2,493 | 2,698 | 2,948 | 3,263 | ||||
| 7.9% | 2,134 | 2,275 | 2,441 | 2,640 | 2,885 | ||||||
| DCF Intrinsic Value | ₹2,698 | 8.4% | 1,973 | 2,090 | 2,227 | 2,389 | 2,585 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||