NSE ScannerComparison · NSE · data 2026-10-31
HCL Technologies Limited vs Tech Mahindra Limited
In plain words
Size: HCL Technologies Limited is about 2.2 times the market value of Tech Mahindra Limited.
Valuation (P/E): Tech Mahindra Limited 28.8 vs HCL Technologies Limited 21.1.
Return on equity: HCL Technologies Limited 23% vs Tech Mahindra Limited 16.9%.
Profit growth over 3 years: HCL Technologies Limited 3.9% a year vs Tech Mahindra Limited -0.1% a year.
Differences in the numbers, not a recommendation of either stock.
Side by side
| HCLTECH | TECHM | |
|---|---|---|
| Price | ₹1,428.1 | ₹1,790.8 |
| Market cap | ₹3,87,511 cr | ₹1,75,672 cr |
| P/E | 21.1 | 28.8 |
| P/B | 5.1 | 5.4 |
| ROE | 23.0% | 16.9% |
| ROCE | 28.0% | 21.2% |
| Debt / equity | 0.07 | 0.07 |
| Operating margin | 17.5% | 14.1% |
| Dividend yield | 4.20% | 2.85% |
| Sales growth, 3 years (yearly) | 8.7% | 2.2% |
| Profit growth, 3 years (yearly) | 3.9% | -0.1% |
| 1-year return | -8.3% | 23.2% |
| Revenue, last 12 months | ₹1,38,052 cr | ₹61,361 cr |
| Net profit, last 12 months | ₹18,320 cr | ₹5,527 cr |
| Latest quarter | Sept 2026 | Jun 2024 |
| Quarter net profit | ₹5,132 cr | ₹865 cr |
| Quarter profit vs a year earlier | +21.2% | — |
| Promoter holding | 60.88% | 34.97% |
| Health check | Average (6.4/10) | Average (6.2/10) |
Common questions
Which has a higher P/E, HCL Technologies Limited or Tech Mahindra Limited?
Tech Mahindra Limited trades at the higher P/E (28.8 against 21.1). A higher P/E means the market pays more for each rupee of past earnings; on its own it does not say which is better.
Which earns a higher return on equity?
HCL Technologies Limited (23.0% against 16.9%).
Which carries more debt?
HCL Technologies Limited has the higher debt-to-equity ratio (0.07 against 0.07).