HCL Tech – Furlough Overhang To Hurt FY23E Topline Growth: Motilal Oswal


BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. 

We attended HCL Tech Ltd.’s investor day 2022 wherein the management reiterated its five strategic objectives that it laid out in May 2022.

Management maintained its positive stance on the IT services and engineering research and development verticals, and provided its outlook on HCL Software (products and platform) business.

Though longer term demand remains intact, the management narrowed its growth guidance to the lower end of 13.5-14.5% band due to weaker-than-expected macro, cuts in discretionary spends and higher furloughs.

It also aspires the Ebit margin to scale back to 19-20% in the near term. We continue to remain positive on the stock.

Click on the attachment to read the full report:


This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.


Source link

What is your reaction?

In Love
Not Sure

You may also like

Comments are closed.

More in:Business