HCL Technologies is set to announce its third-quarter financial results for fiscal year 2026 on Monday, January 12, 2026. The multinational IT services and consulting company will hold a Board of Directors meeting to review unaudited financial results for the quarter and nine months ended December 31, 2025, as announced in an exchange filing on December 19.

Board Meeting and Dividend Consideration

The upcoming board meeting will address key business matters beyond financial result approval. Directors will consider the declaration of a fourth interim dividend for the financial year 2025-26, providing potential returns to shareholders. The financial performance review will offer insights into HCL Technologies' revenue, profits, and operational outlook for the October-December quarter.

Earnings Call and Investor Participation

Following the results declaration, HCL Technologies will conduct an earnings conference call at 7:30 PM on January 12. Senior company management will interact with shareholders and analysts to discuss Q3 FY26 results and share future outlook. Investors can participate through multiple dial-in options:

Trading Window Timeline

The company's trading window, closed since December 25, will reopen 48 hours after the Q3 FY26 financial results declaration on January 12. This timeline allows for proper information dissemination before resuming trading activities.

Q2 FY26 Financial Performance

HCL Technologies demonstrated solid revenue growth in the previous quarter, with key financial metrics showing mixed results:

Share Price Performance

HCL Technologies shares have shown varied performance across different timeframes. The stock gained 4.13% in the past five trading sessions and rose marginally by 0.27% over the past month. However, longer-term performance shows mixed trends:

HCL Technologies shares closed 0.94% higher at ₹1,662.10 on Friday, outperforming the benchmark Nifty 50, which declined 0.75%. The upcoming results announcement will provide crucial insights into the company's operational performance and strategic direction for stakeholders.

HCL Technologies is expected to report stronger sequential growth in the December quarter, with margins seen expanding on the back of software seasonality, even as wage hikes and restructuring costs weigh on profitability. The company will announce its quarterly results on Monday, with Bloomberg estimates pointing to significant improvements across key financial metrics.

Q3 Financial Expectations

Bloomberg estimates indicate robust quarter-on-quarter growth across all major financial parameters for HCLTech's December quarter performance.

Analyst Expectations and Key Focus Areas

Analysts will focus on the extent of margin expansion after factoring in the impact of wage hikes and restructuring costs, alongside any changes to FY26 revenue growth guidance and commentary on demand visibility for calendar year 2026.

Jefferies Outlook

Jefferies expects revenue to grow 2.90% quarter-on-quarter in constant currency, driven by seasonality in the software business and partly offset by furloughs. The services segment is expected to grow 1.00% sequentially, while the software segment may see sharp sequential growth. EBIT margin may expand by about 60 basis points, supported by high-margin software, offset by two months of wage hike impact and restructuring costs.

Investec and UBS Projections

Investec expects 2.40% quarter-on-quarter growth in constant currency and 2.30% growth in US dollar terms. Growth is expected to be driven by the products and platforms business, with services revenue growth of about 1.00% sequentially. Margins are expected to improve by around 100 basis points due to software seasonality, partly offset by an estimated 80 basis point impact from wage hikes.

UBS expects margin expansion due to strong software performance, though growth investments may cap upside. The firm expects HCLTech to maintain FY26 guidance.

Nuvama Analysis

Nuvama expects revenue growth of 2.40% quarter-on-quarter in constant currency and 2.20% growth in US dollar terms, driven by products and platforms growth of about 15.00% and services growth of around 1.00%. EBIT margin is expected to expand by around 110 basis points, aided by software seasonality and partly offset by restructuring expenses and wage hikes.

Key Monitoring Points

Analysts will be closely watching several critical areas during the results announcement:

• FY26 guidance revision possibilities
• Calendar year 2026 budget commentary
• Deal wins and pipeline updates
• Discretionary spending trends
• Impact of H-1B visa fee hike
• Demand visibility for the upcoming periods

The consensus among analysts suggests that software seasonality will be the primary driver of margin expansion, even as the company navigates challenges from wage increases and restructuring costs.