HCL Technologies saw its stock plummet 9.4% to ₹1,306 after reporting a 6.4% sequential decline in consolidated net income to ₹4,488 crore for the fourth quarter of FY26. Revenue showed a modest increase of 0.3% to ₹33,981 crore, but in dollar terms, it decreased by 2.9% quarter-on-quarter to $3,682 million. The company's EBIT also fell by 10.6% to ₹5,620 crore. On a year-over-year basis, however, revenue and net income were up 12.3% and 4.2%, respectively. HCL's return on invested capital (ROIC) improved to 40.3%, while operational cash flow reached $2,252 million. Looking ahead, HCL Technologies anticipates revenue growth of 1.0% to 4.0% for FY27, with expectations for EBIT margins between 17.5% and 18.5%. CEO C Vijayakumar noted that the company faced challenges due to reduced discretionary spending and delayed decision-making, although new AI-led services are gaining traction, contributing to annualized revenues exceeding $620 million in Q4.