Which stock is cheaper: HCLTECH or TECHM?

Based on Price to Earnings, HCLTECH trades at a P/E of 19.1 while TECHM trades at a P/E of 26.3.

Does HCLTECH or TECHM have higher ROCE?

HCLTECH generates an ROCE of 37.3% compared to TECHM's ROCE of 28.0%.

HCL TECHNOLOGIES LTD (HCLTECH) has a market cap of ₹3,26,343 Cr compared to TECH MAHINDRA LIMITED (TECHM) with ₹1,36,517 Cr.

HCLTECHTechnology

Leads (5/5)

₹1,428.10+1.72%

Market Cap: ₹3,26,343 Cr

TECHMTechnology

₹1,790.80+1.20%

Market Cap: ₹1,36,517 Cr

Automated quantitative breakdown of fundamental strengths between HCLTECH and TECHM.

Attractive ValuationHCLTECH (P/E 19.1)Trades at lower Price-to-Earnings

Capital EfficiencyHCLTECH (ROCE 37.3%)Superior operating return on capital

Balance Sheet SafetyHCLTECHLower debt-to-equity ratio

Shareholder YieldHCLTECH (34.38%)Higher annual dividend yield

Green highlight indicates the stronger metric

Financial Metric	HCLTECH	TECHM
Valuation Multiples
Market Capitalization	₹3,26,343 Cr	₹1,36,517 Cr
Price to Earnings (P/E)	19.14	26.34
Price to Book (P/B)	12.60	6.28
Profitability & Capital Efficiency
Return on Capital Employed (ROCE)	37.32%	27.98%
Return on Equity (ROE)	30.65%	16.36%
Operating Profit Margin (OPM)	17.69%	12.45%
Net Profit Margin (NPM)	19.21%	9.74%
Balance Sheet & Solvency
Debt to Equity Ratio	0.04	0.07
Dividend Yield	34.38%	18.87%
Historical Growth
3-Year Sales Growth (CAGR)	12.59%	10.95%
Latest Quarter Financial Results
Quarterly Revenue (30 Jun 2026)	₹28,87,347 Cr	₹15,712 Cr
Quarterly Net Profit	₹3,86,104 Cr	₹1,465 Cr