| Intrinsic Valuation of: HCLTECH | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2021 | - | - | EPS (FY) | 61 | Market Cap | ₹3,064B | |||||
| 2022 | - | - (-) | P/E Ratio | 18 | Total Asset | ₹1,163B | |||||
| 2023 | ₹163B | - (-) | Net Income | ₹166B | Total Debt | ₹370M | |||||
| 2024 | ₹214B | 30.9% (20.8%) | EBITDA | ₹273B | Total Liab | ₹411B | |||||
| 2025 | ₹212B | -1.2% (-7.2%) | Opr Margin | 31.36 | Debt/Equity | 0.00 | |||||
| 2026 | ₹186B | -12.3% (-21.1%) | PreTax Margin | 30.70 | BV/Share | 170 | |||||
| 5Y Average FCF | ₹194B | 7.5% (-2.5%) | |||||||||
| Overall Market Assumptions: | |||||||||||
| Assumptions: | P/E for No-Growth Company: | 7.0 | |||||||||
| Perpetual Growth Rate (g): | 2.48% | Historical US Bond Yield: | 4.40% | ||||||||
| Discount Rate (WACC): | 7.00% | Current US Bond Yield: | 3.48% | ||||||||
| Forcasting Future Free Cash Flow for next 6Y | Modified Benjamin Graham's Intrinsic Value | ||||||||||
| Year | FCF Projection (7.5%) | ||||||||||
| 2027 | ₹202B | MBG Intrinsic Value | ₹549 | ||||||||
| 2028 | ₹215B | ||||||||||
| 2029 | ₹227B | ||||||||||
| 2030 | ₹237B | ||||||||||
| 2031 | ₹246B | ||||||||||
| 2032 | ₹252B | ||||||||||
| Terminal Value | ₹5,708B | Net Worth/Share | ₹278 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | ₹4,890B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | ₹83B | ₹1,838 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | ₹370M | WACC | 6.5% | 1,728 | 1,877 | 2,064 | 2,304 | 2,624 | |||
| Equity Value | ₹4,972B | 7.1% | 1,536 | 1,649 | 1,787 | 1,958 | 2,175 | ||||
| Shares Outstanding | 2,705,652,444 | 7.8% | 1,385 | 1,473 | 1,579 | 1,706 | 1,863 | ||||
| 8.4% | 1,259 | 1,330 | 1,412 | 1,510 | 1,627 | ||||||
| DCF Intrinsic Value | ₹1,838 | 9.0% | 1,156 | 1,213 | 1,279 | 1,356 | 1,447 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||