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HCLTech reported solid full-year results for FY26, with steady revenue growth and increasing traction in AI-led services despite a mixed macro environment. The company posted $14.7 billion in annual revenue, up 6% year-over-year, while constant currency growth reached 3.9%.

For eeNews Europe readers, the results highlight continued enterprise investment in AI, engineering R&D, and semiconductor-related services — key areas shaping Europe’s tech ecosystem and supply chain strategies.

AI momentum drives growth

A standout in the results was HCLTech’s Advanced AI business, which reached an annualized run rate of $620 million in Q4. The company also secured $9.3 billion in total contract value (TCV) for new deal wins, reflecting strong demand for digital and AI transformation.

“HCLTech delivered superior revenue growth of 3.9% in constant currency … in a year marked by an uncertain demand environment … Our new AI-led service offerings are getting traction in the market and this is reflected in annualized Advanced AI revenues crossing $620 million in Q4. Our number one priority in FY27 is to ensure the company is positioned right to take advantage of AI opportunities for multi-decade value creation,” said C Vijayakumar.

Engineering and R&D Services grew 9.8% year-over-year in constant currency, underlining demand from semiconductor and aerospace sectors, while IT and Business Services rose 3.7%.

Regional growth and outlook

Europe delivered 4.5% growth in constant currency, while India and the Rest of the World outpaced other regions. The U.S. market grew more modestly at 2.3%.

The company expects FY27 revenue growth between 1% and 4% in constant currency, with EBIT margins forecast in the 17.5%–18.5% range.

“HCLTech delivered resilient FY26 results with revenues at ₹130,144 crores, up 11.2% YoY and EBIT at ₹22,397 crores (17.2% of revenue), up 4.6% YoY… Excluding the impact of restructuring costs, EBIT and Net Margin came in at 17.9% and 13.8%, respectively,” said Shiv Walia.

Recent wins included AI programs for semiconductor and aerospace firms, along with cybersecurity and digital transformation deals — signaling continued enterprise demand for advanced engineering and AI capabilities.

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