HCL Technologies Limited (HCLTECH) - Net Assets

Latest as of December 2025: Rs729.27 Billion INR ≈ $7.89 Billion USD

Based on the latest financial reports, HCL Technologies Limited (HCLTECH) has net assets worth Rs729.27 Billion INR (≈ $7.89 Billion USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Rs1.14 Trillion ≈ $12.33 Billion USD) and total liabilities (Rs411.17 Billion ≈ $4.45 Billion USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check asset resilience ratio of HCL Technologies Limited to evaluate the company's liquid asset resilience ratio.

Key Net Assets Metrics

Metric	Value
Current Net Assets	Rs729.27 Billion
% of Total Assets	63.95%
Annual Growth Rate	16.05%
5-Year Change	15.72%
10-Year Change	148.41%
Growth Volatility	1833.28

HCL Technologies Limited - Net Assets Trend (2004–2025)

This chart illustrates how HCL Technologies Limited's net assets have evolved over time, based on quarterly financial data. Also explore HCLTECH asset base for the complete picture of this company's asset base.

Annual Net Assets for HCL Technologies Limited (2004–2025)

The table below shows the annual net assets of HCL Technologies Limited from 2004 to 2025. For live valuation and market cap data, see HCL Technologies Limited (HCLTECH) market capitalisation.

Year	Net Assets	Change
2025-03-31	Rs696.27 Billion ≈ $7.53 Billion	+2.08%
2024-03-31	Rs682.10 Billion ≈ $7.38 Billion	+4.29%
2023-03-31	Rs654.07 Billion ≈ $7.07 Billion	+5.26%
2022-03-31	Rs621.37 Billion ≈ $6.72 Billion	+3.27%
2021-03-31	Rs601.69 Billion ≈ $6.51 Billion	+15.59%
2020-03-31	Rs520.56 Billion ≈ $5.63 Billion	+22.79%
2019-03-31	Rs423.94 Billion ≈ $4.58 Billion	+15.38%
2018-03-31	Rs367.44 Billion ≈ $3.97 Billion	+9.83%
2017-03-31	Rs334.55 Billion ≈ $3.62 Billion	+19.36%
2016-03-31	Rs280.29 Billion ≈ $3.03 Billion	+13.24%
2015-03-31	Rs247.51 Billion ≈ $2.68 Billion	+23.44%
2014-03-31	Rs200.51 Billion ≈ $2.17 Billion	-97.66%
2013-03-31	Rs8.58 Trillion ≈ $92.74 Billion	+8616.22%
2012-03-31	Rs98.39 Billion ≈ $1.06 Billion	+28.50%
2011-03-31	Rs76.57 Billion ≈ $828.04 Million	+21.68%
2010-03-31	Rs62.93 Billion ≈ $680.51 Million	+27.23%
2009-03-31	Rs49.46 Billion ≈ $534.87 Million	+18.10%
2008-03-31	Rs41.88 Billion ≈ $452.87 Million	+2.54%
2007-03-31	Rs40.84 Billion ≈ $441.65 Million	+31.11%
2006-03-31	Rs31.15 Billion ≈ $336.85 Million	-9.83%
2005-03-31	Rs34.54 Billion ≈ $373.56 Million	+12.90%
2004-03-31	Rs30.60 Billion ≈ $330.88 Million	--

Equity Component Analysis

This analysis shows how different components contribute to HCL Technologies Limited's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.

Equity Composition Insights

Retained earnings have grown by 3533.6% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (March 2025)

Component	Amount	Percentage
Retained Earnings	Rs668.16 Billion	95.99%
Common Stock	Rs5.43 Billion	0.78%
Other Comprehensive Income	Rs29.73 Billion	4.27%
Total Equity	Rs696.10 Billion	100.00%

HCL Technologies Limited Competitors by Market Cap

The table below lists competitors of HCL Technologies Limited ranked by their market capitalization.

Company	Market Cap
Kinross Gold Corp TO:K	$35.12 Billion
UNIV.MUSIC GRP.ADR/050 F:0VD0	$35.12 Billion
Orsted A/S CO:ORSTED	$35.14 Billion
Adyen NV AS:ADYEN	$35.32 Billion
Beijing-Shanghai High Speed Railway Co Ltd SHG:601816	$35.08 Billion
Baidu Inc NASDAQ:BIDU	$35.02 Billion
Suzhou TFC Optical Communication Co Ltd SHE:300394	$34.98 Billion
Swisscom AG SW:SCMN	$34.91 Billion

Equity Growth Attribution

This analysis shows how different factors contributed to changes in HCL Technologies Limited's equity between the two most recent reporting periods.

Equity Growth Insights

From 2024 to 2025, total equity changed from 682,015,943,000 to 696,100,751,000, a change of 14,084,808,000 (2.1%).
Net income of 174,366,916,000 contributed positively to equity growth.
Dividend payments of 162,500,000,000 reduced retained earnings.
Share repurchases of 6,760,000,000 reduced equity.
Other comprehensive income decreased equity by 4,099,620,000.
Other factors increased equity by 13,077,512,000.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	Rs174.37 Billion	+25.05%
Dividends Paid	Rs162.50 Billion	-23.34%
Share Repurchases	Rs6.76 Billion	-0.97%
Other Comprehensive Income	Rs-4.10 Billion	-0.59%
Other Changes	Rs13.08 Billion	+1.88%
Total Change	Rs-	2.07%

Book Value vs Market Value Analysis

This analysis compares HCL Technologies Limited's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.

Valuation Insights

Current price-to-book ratio: 4.67x
The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
The price-to-book ratio has decreased from 96.88x to 4.67x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2004-03-31	Rs12.38	Rs1199.10	x
2005-03-31	Rs13.59	Rs1199.10	x
2006-03-31	Rs11.34	Rs1199.10	x
2007-03-31	Rs15.01	Rs1199.10	x
2008-03-31	Rs15.26	Rs1199.10	x
2009-03-31	Rs18.25	Rs1199.10	x
2010-03-31	Rs22.82	Rs1199.10	x
2011-03-31	Rs27.44	Rs1199.10	x
2012-03-31	Rs34.96	Rs1199.10	x
2013-03-31	Rs3035.51	Rs1199.10	x
2014-03-31	Rs70.79	Rs1199.10	x
2015-03-31	Rs87.58	Rs1199.10	x
2016-03-31	Rs98.54	Rs1199.10	x
2017-03-31	Rs116.54	Rs1199.10	x
2018-03-31	Rs131.01	Rs1199.10	x
2019-03-31	Rs152.40	Rs1199.10	x
2020-03-31	Rs189.74	Rs1199.10	x
2021-03-31	Rs221.13	Rs1199.10	x
2022-03-31	Rs228.75	Rs1199.10	x
2023-03-31	Rs241.29	Rs1199.10	x
2024-03-31	Rs251.31	Rs1199.10	x
2025-03-31	Rs256.54	Rs1199.10	x

Capital Efficiency Dashboard

This dashboard shows how efficiently HCL Technologies Limited utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.

Capital Efficiency Insights

Current Return on Equity (ROE): 25.05%
The company demonstrates strong efficiency in generating profits from shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 14.75%
• Asset Turnover: 1.12x
• Equity Multiplier: 1.52x
Recent ROE (25.05%) is above the historical average (24.94%), indicating improving capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2004	29.24%	33.01%	0.69x	1.29x	Rs5.67 Billion
2005	19.34%	19.86%	0.77x	1.26x	Rs3.21 Billion
2006	24.28%	16.48%	1.12x	1.32x	Rs4.43 Billion
2007	32.55%	21.81%	1.14x	1.31x	Rs9.17 Billion
2008	25.21%	13.93%	1.11x	1.63x	Rs6.36 Billion
2009	26.69%	12.90%	0.87x	2.38x	Rs8.25 Billion
2010	20.02%	10.37%	0.96x	2.00x	Rs6.30 Billion
2011	21.51%	10.47%	1.13x	1.82x	Rs8.81 Billion
2012	24.63%	11.63%	1.14x	1.86x	Rs14.39 Billion
2013	30.43%	15.63%	1.21x	1.61x	Rs1.75 Trillion
2014	31.08%	19.35%	1.06x	1.52x	Rs42.26 Billion
2015	30.06%	20.44%	1.02x	1.44x	Rs49.64 Billion
2016	26.64%	17.93%	1.04x	1.43x	Rs46.30 Billion
2017	24.58%	18.10%	0.98x	1.38x	Rs48.53 Billion
2018	24.08%	17.36%	1.05x	1.32x	Rs51.75 Billion
2019	23.84%	16.69%	1.01x	1.41x	Rs58.04 Billion
2020	22.76%	15.64%	0.90x	1.61x	Rs65.72 Billion
2021	18.39%	14.81%	0.86x	1.44x	Rs50.33 Billion
2022	22.12%	15.74%	0.98x	1.44x	Rs75.18 Billion
2023	23.07%	14.60%	1.11x	1.43x	Rs85.50 Billion
2024	23.16%	14.29%	1.11x	1.46x	Rs89.78 Billion
2025	25.05%	14.75%	1.12x	1.52x	Rs104.76 Billion

Industry Comparison

This section compares HCL Technologies Limited's net assets metrics with peer companies in the Information Technology Services industry.

Industry Context

Industry: Information Technology Services
Average net assets among peers: $1,245,774,409
Average return on equity (ROE) among peers: 11.95%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
HCL Technologies Limited (HCLTECH)	Rs729.27 Billion	29.24%	0.56x	$35.09 Billion
AAA Technologies Limited (AAATECH)	$253.85 Million	11.30%	0.09x	$13.80 Million
Accelya Solutions India Limited (ACCELYA)	$1.80 Billion	49.66%	0.42x	$187.02 Million
Adroit Infotech Limited (ADROITINFO)	$159.54 Million	-2.39%	0.01x	$5.85 Million
Airan Limited (AIRAN)	$188.59 Million	6.62%	0.62x	$22.15 Million
Alankit Limited (ALANKIT)	$3.75 Million	22.76%	4.62x	$27.04 Million
Bartronics India Limited (ASMS)	$664.69 Million	-75.68%	23.36x	$25.79 Million
BIRLASOFT LIMITED (BSOFT)	$1.42 Billion	22.91%	0.88x	$1.11 Billion
Computer Age Management Services Limited (CAMS)	$7.82 Billion	36.45%	0.40x	$1.98 Billion
Cigniti Technologies Limited (CIGNITITEC)	$115.76 Million	0.58%	0.23x	$351.04 Million
Cambridge Technology Enterprises Limited (CTE)	$29.18 Million	47.30%	0.49x	$6.93 Million

About HCL Technologies Limited

NSE:HCLTECH India Information Technology Services

Market Cap

$35.09 Billion

Rs3.24 Trillion INR

Market Cap Rank

#756 Global

#16 in India

Share Price

Rs1199.10

Change (1 day)

-0.09%

52-Week Range

Rs1196.00 - Rs1739.90

All Time High

Rs1995.10