HCLTech to hike salaries of all employees from this month
What's the story
HCL Technologies, a leading IT services company, has announced plans to increase salaries and shift its quarterly variable pay structure into fixed salaries for all employees. The changes will take effect from this month. Ram Sundararajan, Chief People Officer of HCLTech, made the announcement during an earnings call for the September quarter.
Past increments
Last year, salary hikes were rolled out in October
In October last year, HCLTech had announced a 7% salary hike for its employees. The top performers were given raises of up to 12-14%. Sundararajan said, "Given the strong quarter we have had, we have decided to roll out the increments effective from October. We will follow the same process that we did last year."
Growth trajectory
Q2 FY26 highlights and headcount details
In the second quarter, HCLTech added 3,489 employees to its workforce, taking the total headcount to 226,640. The company also hired 5,196 freshers in Q2. This brings the total fresher addition for H1 FY26 to 7,180. The voluntary attrition rate stood at 12.6%, a decline of 20 basis points from the previous quarter.
Financial performance
HCLTech's revenue up 11% YoY in Q2
HCLTech's net profit for the quarter ending September 30, 2025, remained flat at ₹4,235 crore. However, the company's revenue grew by 11% to ₹31,942 crore in Q2 FY26 from ₹28,862 crore in Q2 FY25. On a sequential basis, revenue increased by 5.2%, and net profit surged by 10.17%. The operating margin stood at a healthy 17.5%, expanding by 120 basis points sequentially.
Future outlook
Revenue growth guidance for FY26 unchanged
HCLTech has maintained its revenue growth guidance for FY26 at 3-5% YoY in constant currency. The company expects its EBIT margin or operating margin to be in the range of 17-18% for the full year. These projections indicate a steady financial performance amid industry challenges and changes in pay structures.