Pending — not yet graded
“Aditya Shah is cautious on HCL Tech's near-term outlook, expecting its FY27 constant currency growth (1-4%) and EBIT margins (17.5-18.5%) to trend towards the lower end of the company's guidance. This assessment is based on disappointing Q4 constant currency revenue growth and EBIT margins, alongside concerns about the quality and sustainability of new deal wins and geopolitical uncertainties impacting future performance.”
Aditya Shah’s track record: 7 graded calls · 95% CI 8–64%
HCL Technologies LtdBearishCalled 22 Apr 2026
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