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Brokerage firm Anand Rathi said that within the top-6 IT names, Infosys and LTIMindtree are expected to show approximately 70 basis points and 130 basis points sequential constant currency revenue growth, with cc-degrowth in the others. HCL Tech may show seasonal de-growth of around 60 basis points.

HCL Technologies is expected to report a 1% drop in net profit at ₹4,258 crore and flat revenue of ₹30,287 crore for the June quarter, according to analysts’ estimates done. The company is expected to report an EBIT of ₹5,286 crore, while margin may come in at 17.45%.

Shares of HCL Technologies Ltd. closed 1.51% lower at ₹1,613.50 on the NSE on Monday, after hitting an intraday low of ₹1,607. The stock remained under pressure through the session ahead of its Q1 earnings.

During the previous March quarter of last fiscal, HCL Technologies had announced an interim dividend of ₹18 per equity share of face value of ₹2 each of the company for the financial year 2025-26. Record date for the same had been fixed on April 28, 2025.

1) Dividend: HCL Technologies is expected to announce its second interim dividend for FY26.

2) Revenue guidance: According to analysts, HCLTech’s revenue growth and EBIT margin guidance for FY26 will remain unchanged.

3) Deal wins: Investors will track deal wins by HCLTech during the first quarter. Analysts expect a healthy TCV of deal wins in the $2-2.5 billion range.

Global brokerage firm HSBC expects seasonally lower revenues for products business and marginal growth for IT and ERD services business. The brokerage expects positive impact of Constant Currency to more than offset for the seasonal decline in the business sequentially. It expects dollar revenue growth to be 0.5% q-o-q and 4.5% y-o-y.

Operating margins are expected to fall by about 80 basis points due to the impact of lower utilisation, lower share of revenues from high margin software business and some adverse impact of currency.

Stocks off 52 week highs

TCS -30%

Infosys -22%

HCL -20%

Wipro -22%

For all three companies it will be the second consecutive quarter of revenue contraction.

HCLTech CC revenue growth estimate growth seen down 1.1%

Tech Mahindra CC revenue seen down 0.7%

Wipro seen down 2%

Margins likely to decline due to softness in revenue

Current FY26 guidance: 2-5% revenue and 18-19% margins

Some analysts believe the company can raise lower of end of the guidance 2-5% becomes 3-5%

Aspirational margin range 19-20%

– Profit

– Revenue

– EBITDA/EBIT

– Deal wins

– FY26 Guidance

The Nifty IT index is down 1% as selling continues. HCL Technologies, Tech Mahindra, LTIMindtree are set to report results this week. HCLTech results are expected to be out after market hours today.

Last week, brokerage firm Macquarie removed HCLTech from its Marquee Buy list. It has a target price of ₹1,970 on the stock.

After seeing a total return of 81.8% since inclusion in Macquarie Marquee Buy ideas on May 2, 2022.

The brokerage thinks near-term EPS growth in FY26E will be likely in single digits. This also likely limits further PE rerating vs peers despite growth that is yet again likely to be better vs peers.

Motilal Oswal expects HCL Technologies to report a 1.2% sequential revenue decline in what is typically a seasonally weak quarter. The Services segment is likely to contract by 1.2% QoQ in constant currency (CC) terms, while the Products & Platforms (P&P) segment may see a 1.0% decline.

The BFSI and Hi-tech verticals are expected to show relatively better performance, whereas the manufacturing segment, especially the automotive sub-sector, continues to face headwinds, though early signs of stabilisation are emerging.

EBIT margins are projected to decline by 50 basis points sequentially, reflecting the usual Q1 seasonal reset, consistent with previous years.

The company is expected to maintain its FY26 revenue growth guidance of 2-5%.

Current FY26 guidance: 2-5% revenue and 18-19% margins.

Some analysts believe the company can raise lower of end of the guidance 2-5% becomes 3-5%.

Gross Margin of 35-40% with PLI benefits

Volumes to be around `3.25-3.75 lakh units

Revenue to be around ₹4,200-4,700 cr

Revenue growth seen at -7% to +4%

Auto segment delivered on Q1FY26 guidance

Turned EBITDA positive in the month of June

Auto segment cash generation within reach

Rare-earth risk is a major long term risk for auto OEMs

For the short-term, we have reasonable inventory levels

Ola Electric Mobility expects its revenue in financial year 2026 to be between ₹4,200 crore to ₹4,700 crore, the company said along with its earnings statement on Monday, July 14. This implies revenue growth of negative 7% to positive 4% from financial year 2025.

Avenue Supermarts shares sharply recovers from day’s low by more than 3%. The stock opened 1% lower after Q1 earnings came in below estimates and margin slipped nearly 100 basis points year-on-year.

Ola Electric Mobility Ltd. reported its results for the June quarter today. The company reported a net loss of ₹428 crore, which is wider than the net loss of ₹347 crore, it had reported during the same quarter last year. Revenue halved on a year-on-year basis, declining 50% to ₹828 crore. Read here

Ola Electric reports Q1 earnings:

-Net loss at ₹428 cr vs loss of ₹347 cr (YoY)

-Revenue down 50% at ₹828 cr vs ₹1,644 cr (YoY)

-EBITDA loss at ₹237 cr vs EBITDA loss of ₹205 cr (YoY)

HCL Technologies shares down nearly 1% ahead of Q1 earnings today.

HCLTech’s Constant Currency revenue growth is expected to decline 1.1% for the June quarter. A muted quarter is expected due to seasonal weakness in IT services business (pass through of annual productivity benefits).

For the June quarter, D-Mart’s revenue rose 16% year-on-year to ₹16,359.7 crore, but net profit remained flat at ₹772.8 crore, compared to ₹773.7 crore in the same period last year.

Gross margins narrowed to 15.3% from 15.6%. EBITDA grew 6.4% to ₹1,299 crore from ₹1,221 crore, while EBITDA margins slipped to 7.9% from 8.7%.

Shares of Avenue Supermarts Ltd., the parent company of hypermarket chain D-Mart, opened lower on Monday, July 14, after the company reported another weak set of numbers for Q1FY26. The stock has already declined 9% since July 1. Read here

Q1FY26 QoQ estimates

$ Revenue up 0.9% at $3,530 million vs $3,498 million

Re Revenue down 0.7% at ₹30,200 crore vs ₹30,426 crore

EBIT at ₹5,220 crore vs ₹5,442 crore

EBIT % at 17.3% vs 17.9%

PAT down 3% at ₹4,177 crore vs ₹4,307 crore

Good Morning!

Hello and Welcome to the Live coverage of the important Q1 results today.

Four important names will be reporting their results through the course of the day.

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