date

stockName

seoString

changeP

quarterData

scID

exchange

financialType

AI adoption is reducing deal values in HCLTech's core services, HCLTech sees 2-3 percent annual deflation from AI efficiencies, Advanced AI now generates $620M in yearly revenue

* AI adoption is reducing deal values in HCLTech's core services
* HCLTech sees 2-3 percent annual deflation from AI efficiencies
* Advanced AI now generates $620M in yearly revenue

HCLTech CEO said AI adoption is compressing deal values in traditional IT services, causing 2-3% annual deflation, but demand remains steady. Growth is expected from AI-led and advanced AI services, despite smaller deals and a shift to outcome-based contracts.

shorts/artificial-intelligence/hcltech-flags-2-3-ai-deflation-bets-on-new-ai-services-to-offset-hit

IT major HCLTech, on April 21, said the growing adoption of artificial intelligence (AI) is beginning to compress deal values across its traditional services business, with CEO C Vijayakumar flagging a 2-3 percent annual deflation impact from AI-led efficiencies.

“AI deflation could be 2 to 3 percent a year,” Vijayakumar said during the company’s Q4FY26 post-earnings press conference. However, he added that while demand remains steady, pricing is being reset as automation improves productivity.

The shift is already visible in contract structures.

Deals that were earlier sized at $100 million are now being signed closer to $80 million, reflecting the impact of AI-driven efficiencies rather than a drop in underlying demand, he hinted.

Despite the pricing pressure, HCLTech maintained that overall growth will be sustained through a combination of stronger deal wins and expansion in AI-led services.

The company said it has been able to hold its total contract value (TCV) run-rate broadly steady, even as individual deal sizes shrink.

Also, read: HCLTech Q4 results: Net profit rises 4% to Rs 4,488 crore, misses estimate

The 3-part shift

Vijayakumar outlined a three-part shift in the IT services market.

Traditional services are seeing disruption and pricing pressure from AI, while segments such as data, cloud, cybersecurity, and modernisation are being amplified by AI and continue to grow at a healthy pace.

A third category comprising AI-native offerings is emerging as a key growth driver.

HCLTech is betting heavily on this last segment, which it calls “advanced AI” services.

The company reported annualised revenue of about $620 million from advanced AI services, with sequential growth of 6-7%, and said it expects this to become a meaningful contributor to overall growth.

These include offerings such as AI factories, physical AI, semiconductor design for inferencing, AI-led marketing services, and platform-based solutions. The company said this segment is growing sequentially and has the potential to expand at 25–30% annually over the next few years.

Also, read: HCLTech headcount rises by 802 in Q4FY26; 1,712 freshers onboarded

Shift in pricing models

At the same time, HCLTech is also seeing a shift in pricing models, with clients increasingly moving toward outcome- and output-based contracts instead of traditional time-and-material billing.

This transition, the company said, is being driven by the measurable productivity gains enabled by AI.

While the deflationary impact is being factored into its growth outlook, HCLTech indicated that the combination of a steady deal pipeline, expansion in AI-amplified services, and rapid scaling of AI-native offerings should help offset the pressure on legacy revenue streams.

The commentary comes even as the company guided for modest revenue growth of 1-4 percent for FY27, reflecting a cautious demand environment alongside structural shifts driven by AI adoption.

HCLTech flags 2-3% AI deflation, bets on new AI services to offset hit

IT major HCLTech reported an increase in its workforce in the March quarter of FY26 (Q4FY26), even as the IT services firm tempered fresher hiring amid slowing demand conditions.

The Noida-headquartered company reported a net addition of 802 employees during the quarter, taking its total employee base to 2,27,181 at the end of Q4FY26, according to its earnings release on April 21, 2026.

The sequential increase came despite the company adding 1,712 freshers during the quarter, indicating that overall workforce movement was shaped by selective hiring rather than a broad-based push.

The movement follows a net reduction of 261 employees in Q3FY26. In the previous quarter, HCLTech had onboarded 2,852 freshers.

Voluntary attrition stood at 12.5 percent on a last-twelve-month basis, down from 13 percent a year ago, signalling improving employee retention.

HCLTech’s headcount trend comes amid a broader recalibration across the IT sector, where peers such as Tata Consultancy Services and Wipro have maintained caution in response to macro uncertainty, and shifts in discretionary spending.

&quot;During the quarter, our performance came below our expectations due to softness in certain parts of our business due to lower discretionary spend and delayed decision making,&quot; HCLTech MD &amp;amp; CEO C Vijayakumar said in the press release.

HCLTech headcount rises by 802 in Q4FY26; 1,712 freshers onboarded

HCLTech Q4 profit rose 4% to Rs 4,488 crore, missing estimates, Revenue grew 12.3% to Rs 33,981 crore, below analyst forecasts, Rs 24 interim dividend; record date set for April 25

* HCLTech Q4 profit rose 4% to Rs 4,488 crore, missing estimates
* Revenue grew 12.3% to Rs 33,981 crore, below analyst forecasts
* Rs 24 interim dividend; record date set for April 25

HCLTech reported a 4% rise in Q4 net profit to Rs 4,488 crore and 12.3% revenue growth to Rs 33,981 crore, both below analyst estimates, as clients cut tech spending. The company declared a Rs 24 interim dividend and highlighted AI-led growth.

shorts/business/hcltech-q4-results-net-profit-rises-4-to-rs-4-488-crore-misses-estimate

HCLTech posted a smaller-than-expected fourth-quarter revenue and net profit on April 21, as clients held back tech spends due to geopolitical headwinds.

The IT services firm posted 4% rise in consolidated net profit at Rs 4,488 crore for the quarter ended March 31, 2026. Data compiled by LSEG showed that analysts expected net profit of Rs 4,657 crore.

The country's third-largest IT services firm posted a consolidated revenue of Rs 33,981 crore, a 12.3% rise, in the January-March quarter.

Data compiled by LSEG showed that analysts, on average, expected Rs 34,236 crore, which also factors in the 4% fall of the Indian rupee against the US dollar in the January-March quarter.

The company also declared interim dividend of Rs 24 per share of Rs 2 face value.

The record date for the payment of the interim dividend shall be April 25, 2026, and the payment date of the interim dividend shall be May 5, 2026, said the company.

&quot;HCLTech delivered superior revenue growth of 3.9% in constant currency, 10 bps below our guidance and 17.2% operating margin within our guidance, in a year marked by uncertain demand environment. During the quarter, our performance came below our expectations due to softness in certain parts of our business due to lower discretionary spend and delayed decision making. Our new AI-led service offerings are getting traction in the market and is reflected in annualized Advanced AI revenues crossing $620 million in Q4. Our #1 priority in FY27 is to ensure the company is positioned right to take advantage of AI opportunities for multi decade value creation,&quot; said C Vijayakumar, CEO &amp;amp; Managing Director, HCLTech.

&amp;nbsp;

Headcount Increases

The IT major reported an increase in its workforce in the March quarter of FY26, even as the IT services firm tempered fresher hiring amid slowing demand conditions.

It reported a net addition of 802 employees during the quarter, taking its total employee base to 2,27,181 at the end of Q4FY26, according to its earnings release on April 21, 2026.

The sequential increase came despite the company adding 1,712 freshers during the quarter, indicating that overall workforce movement was shaped by selective hiring rather than a broad-based push.

The movement follows a net reduction of 261 employees in Q3FY26. In the previous quarter, HCLTech had onboarded 2,852 freshers.

Voluntary attrition stood at 12.5 percent on a last-twelve-month basis, down from 13 percent a year ago, signalling improving employee retention.

HCL Tech FY26 guidance
The company slashed growth guidance to 1 to 4 percent YoY in constant currency (CC) terms for FY27, from 4 to 4.5 percent YoY CC in FY26.

EBIT margin is estimated to be in the range of 17.5-18.5 percent, and EBIT margin to be between in the range of 17.5% and 18.5%.

HCLTech Q4 results: Net profit rises 4% to Rs 4,488 crore, misses estimate; declares Rs 24 dividend

Nestle India's fiscal fourth quarter standalone net profit jumped nearly 26 percent year-on-year to Rs 1,114.1 crore, as revenue rose faster than expenditure. This beat Street expectations by a wide margin. A CNBC TV18 poll of analysts had estimated Nestle India's Q4 profit to rise 12.7 percent from the previous year to Rs 998 crore.

Nestle India's Q4 FY26 revenue from operations grew 22.6 percent on-year to Rs 6,747.8 crore. The FMCG giant's January-March revenue was expected to rise 13.5 percent to Rs 6,250 crore.

The standalone  performance was powered by double-digit volume growth, driven by over 50% increase in advertising spends, whilst delivering a healthy EBITDA margin of 26.3%, said , chairman and managing director, Manish Tiwary.

&quot;Total sales and domestic sales for the quarter increased by 23.4% and 23.1%, respectively. Encouragingly, all product groups contributed to this performance,&quot; Tiwary added.

The company declared a final dividend of Rs 5 per share with a face value of Re 1 each. Nestle India's share price jumped following the earnings announcement. The stock was trading up 5.4 percent at Rs 1,356 on NSE.

On a consolidated basis, revenue rose  to Rs 6766.24 crore from Rs 5,679.87 crore in the same quarter last year. Consolidated profit rose 11.3 per cent to Rs 1,110.90 crore, the company said in a regulatory filing on April 21.

The maker of Kitkat said that its confectionery product group grew at a high double-digit pace in both value and volume underpinned by strong underlying transaction growth across its powerhouse brands.

It also noted high double-digit growth in its powdered and Liquid Beverages product group, driven by
increased coffee penetration, accelerated premiumization, and deeper category relevance across consumer segments, supported by strong brand equity and an expanded footprint.

&quot;We continued to execute an omni-channel strategy aligned to the evolving retail ecosystem, scaling e-commerce and quick commerce, strengthening modern trade and chain pharmacy, and sustaining growth through general trade across semi-urban and rural markets,&quot; Tiwary added.

Commenting on the coffee prices, the company said it expects prices to continue to trend lower, supported by a favourable crop in Vietnam and the forthcoming crop in Brazil. However, it pointed to higher edible oil prices, in tandem with global crude oil prices, supported by increased
diversion to biodiesel. Meanwhile, unseasonal rains have impacted the wheat production,  resulting in a delayed harvest and lower quantity and quality, the company added.

&amp;nbsp;

Nestle India Q4 net profit jumps 26% on-year to Rs 1,114 crore, beats Street; co declares dividend

HDFC Life saw a 4 percent drop in banca channel in Q4 FY26, ICICI Prudential’s agency channel fell 18% year-on-year, Both insurers expect gradual recovery, not a sharp rebound

* HDFC Life saw a 4 percent drop in banca channel in Q4 FY26
* ICICI Prudential’s agency channel fell 18% year-on-year
* Both insurers expect gradual recovery, not a sharp rebound

HDFC Life and ICICI Prudential Life reported stress in key distribution channels for Q4 FY26. HDFC Life saw a slowdown in bancassurance, while ICICI Prudential faced agency channel declines. Both expect gradual recovery through strategic adjustments.

shorts/banking/hdfc-life-icici-pru-life-see-distribution-slowdown-in-q4-of-fy26

India’s leading private life insurers, including HDFC Life Insurance and ICICI Prudential Life Insurance, flagged visible stress across key distribution channels in the March quarter, pointing to an ongoing recalibration even as they remain optimistic about the quarters ahead.

HDFC Life

At HDFC Life Insurance, the slowdown was most pronounced in its core bancassurance channel, particularly via HDFC Bank.

The banca channel declined around 4 percent year-on-year in Q4 FY26, dragging overall growth, with total annual premium equivalent (APE) rising only 1-1.3 percent year-on-year during the quarter.

Given that banca contributes nearly 58 percent of individual APE, the impact on the overall business was significant.

According to the management commentary during the analyst call post-results, a key driver of this weakness was a fall in “counter share” within the bank, which slipped from around 65 percent to the early 60 percent range.

MD &amp;amp; CEO Vibha Padalkar said branches where the insurer has a lower presence have generated weaker business, highlighting that &quot;manpower deployment remains a critical driver of performance.&quot;

In branches where manpower share falls below 50 percent, counter share tends to decline, she added.

To address this, the company is working closely with the bank to identify underpenetrated branches, strengthen staffing levels, and step up digital integration to regain lost ground. This calibrated pullback has resulted in a sharper push towards agency and proprietary channels, which have shown relatively better traction compared to banca during the quarter.

She added that the focus going forward will be on improving the insurer’s visibility and engagement within bank branches by increasing frontline staff, better aligning incentives, and embedding digital solutions to support sales.

The idea, she said, is to arrive at an optimal mix of manpower and digital distribution so that productivity per branch improves and wallet share within the bank network can be regained over time.

Alongside distribution fixes, Padalkar acknowledged that the company had consciously ceded some business where Value of New Business (VNB) thresholds were not met, contributing to slower growth in certain channels during Q4.

Management indicated that it was clear about “where it let go of business and at what price point,” and now sees scope to re-enter those segments with improved pricing as conditions stabilise.

ICICI Prudential Life

Meanwhile, ICICI Prudential Life Insurance is facing sustained pressure in its agency channel, which has been contracting over the past two years and declined around 18 percent year-on-year in Q4 FY26, albeit on a high base.

The agency channel’s contribution to APE has also steadily moderated, falling to 25 percent in FY26 from 30 percent in FY25, underscoring a clear shift in the company’s distribution mix towards other channels such as banca and partnerships.

In response, the insurer during its post-earnings analyst call said it is pivoting to a “micro-market-led distribution strategy”, focusing on specific geographies using data and analytics to improve agent productivity and deepen customer penetration.

MD &amp;amp; CEO Anup Bagchi said the approach is aimed at moving away from broad-based expansion — such as aggressively adding agents or opening branches — and instead identifying “growth centres” where execution can be sharpened at a granular level.

CFO Dhiren Salian also indicated that while the near-term trend remains muted, the long-term agency growth trajectory of around 12-13 percent CAGR over recent years remains intact, and recovery is expected as base effects normalise.

Looking ahead

Going forward, both companies have said they expect a gradual recovery rather than a sharp rebound.

HDFC Life Insurance is betting on improved execution within banca, pricing discipline, and product innovation to regain momentum, while ICICI Prudential Life Insurance is relying on data-led distribution and normalisation of base effects to revive agency growth.

HDFC Life, ICICI Pru Life see distribution slowdown in Q4 of FY26

Reported Standalone quarterly numbers for Axita Cotton are:

Net Sales at Rs 61.03 crore in March 2026 down 56.36% from Rs. 139.86 crore in March 2025.

Quarterly Net Loss at Rs. 2.34 crore in March 2026 down 26.11% from Rs. 1.86 crore in March 2025.

EBITDA stands negative at Rs. 3.00 crore in March 2026 down 40.19% from Rs. 2.14 crore in March 2025.

Axita Cotton shares closed at 9.06 on April 17, 2026 (NSE) and has given 18.28% returns over the last 6 months and -0.33% over the last 12 months.









Axita Cotton 


Standalone Quarterly Results
in Rs. Cr.











Mar'26
Dec'25
Mar'25


Net Sales/Income from operations
61.03
89.40
139.86


Other Operating Income
--
--
--


Total Income From Operations
61.03
89.40
139.86


EXPENDITURE


Consumption of Raw Materials
--
9.34
25.08


Purchase of Traded Goods
56.03
64.44
111.38


Increase/Decrease in Stocks
3.78
7.54
1.26


Power &amp;amp; Fuel
--
--
--


Employees Cost
0.86
0.76
0.75


Depreciation
0.15
0.15
0.18


Excise Duty
--
--
--


Admin. And Selling Expenses
--
--
--


R &amp;amp; D Expenses
--
--
--


Provisions And Contingencies
--
--
--


Exp. Capitalised
--
--
--


Other Expenses
4.52
2.44
3.99


P/L Before Other Inc. , Int., Excpt. Items &amp;amp; Tax
-4.31
4.73
-2.78


Other Income
1.16
0.24
0.46


P/L Before Int., Excpt. Items &amp;amp; Tax
-3.15
4.97
-2.32


Interest
0.41
0.69
0.24


P/L Before Exceptional Items &amp;amp; Tax
-3.56
4.28
-2.56


Exceptional Items
--
--
--


P/L Before Tax
-3.56
4.28
-2.56


Tax
-1.22
1.68
-0.70


P/L After Tax from Ordinary Activities
-2.34
2.60
-1.86


Prior Year Adjustments
--
--
--


Extra Ordinary Items
--
--
--


Net Profit/(Loss) For the Period
-2.34
2.60
-1.86


Equity Share Capital
38.25
34.78
34.78


Reserves Excluding Revaluation Reserves
--
--
--


Equity Dividend Rate (%)
--
--
--


EPS Before Extra Ordinary


Basic EPS
-0.06
0.07
-0.05


Diluted EPS
-0.06
0.07
-0.05


EPS After Extra Ordinary


Basic EPS
-0.06
0.07
-0.05


Diluted EPS
-0.06
0.07
-0.05


Public Share Holding


No Of Shares (Crores)
--
--
--


Share Holding (%)
--
--
--


Promoters and Promoter Group Shareholding


a) Pledged/Encumbered


- Number of shares (Crores)
--
--
--


- Per. of shares (as a % of the total sh. of prom. and promoter group)
--
--
--


- Per. of shares (as a % of the total Share Cap. of the company)
--
--
--


b) Non-encumbered


- Number of shares (Crores)
--
--
--


- Per. of shares (as a % of the total sh. of prom. and promoter group)
--
--
--


- Per. of shares (as a % of the total Share Cap. of the company)
--
--
--


Source :  Dion Global Solutions Limited

Axita Cotton  Standalone March 2026 Net Sales at Rs 61.03 crore, down 56.36% Y-o-Y

Reported Standalone quarterly numbers for PNB Gilts are:

Net Sales at Rs 424.11 crore in March 2026 up 1.27% from Rs. 418.77 crore in March 2025.

Quarterly Net Profit at Rs. 12.99 crore in March 2026 down 82.68% from Rs. 75.02 crore in March 2025.

EBITDA stands at Rs. 330.73 crore in March 2026 down 18.7% from Rs. 406.78 crore in March 2025.

PNB Gilts EPS has decreased to Rs. 0.72 in March 2026 from Rs. 4.17 in March 2025.

PNB Gilts shares closed at 74.25 on April 17, 2026 (NSE) and has given -19.41% returns over the last 6 months and -23.52% over the last 12 months.









PNB Gilts


Standalone Quarterly Results
in Rs. Cr.











Mar'26
Dec'25
Mar'25


Net Sales/Income from operations
424.11
424.67
418.77


Other Operating Income
--
--
--


Total Income From Operations
424.11
424.67
418.77


EXPENDITURE


Consumption of Raw Materials
--
--
--


Purchase of Traded Goods
--
--
--


Increase/Decrease in Stocks
--
--
--


Power &amp;amp; Fuel
--
--
--


Employees Cost
7.34
4.79
3.39


Depreciation
1.01
0.60
0.94


Excise Duty
--
--
--


Admin. And Selling Expenses
--
--
--


R &amp;amp; D Expenses
--
--
--


Provisions And Contingencies
--
--
--


Exp. Capitalised
--
--
--


Other Expenses
86.07
25.40
8.67


P/L Before Other Inc. , Int., Excpt. Items &amp;amp; Tax
329.69
393.88
405.77


Other Income
0.03
0.08
0.07


P/L Before Int., Excpt. Items &amp;amp; Tax
329.72
393.96
405.84


Interest
315.79
327.22
306.82


P/L Before Exceptional Items &amp;amp; Tax
13.93
66.74
99.01


Exceptional Items
0.24
0.92
0.17


P/L Before Tax
14.16
67.67
99.19


Tax
1.17
13.76
24.17


P/L After Tax from Ordinary Activities
12.99
53.91
75.02


Prior Year Adjustments
--
--
--


Extra Ordinary Items
--
--
--


Net Profit/(Loss) For the Period
12.99
53.91
75.02


Equity Share Capital
180.01
180.01
180.01


Reserves Excluding Revaluation Reserves
--
--
--


Equity Dividend Rate (%)
--
--
--


EPS Before Extra Ordinary


Basic EPS
0.72
2.99
4.17


Diluted EPS
0.72
2.99
4.17


EPS After Extra Ordinary


Basic EPS
0.72
2.99
4.17


Diluted EPS
0.72
2.99
4.17


Public Share Holding


No Of Shares (Crores)
--
--
--


Share Holding (%)
--
--
--


Promoters and Promoter Group Shareholding


a) Pledged/Encumbered


- Number of shares (Crores)
--
--
--


- Per. of shares (as a % of the total sh. of prom. and promoter group)
--
--
--


- Per. of shares (as a % of the total Share Cap. of the company)
--
--
--


b) Non-encumbered


- Number of shares (Crores)
--
--
--


- Per. of shares (as a % of the total sh. of prom. and promoter group)
--
--
--


- Per. of shares (as a % of the total Share Cap. of the company)
--
--
--


Source :  Dion Global Solutions Limited

PNB Gilts Standalone March 2026 Net Sales at Rs 424.11 crore, up 1.27% Y-o-Y

Reported Standalone quarterly numbers for Indbank Merchant Banking Services are:

Net Sales at Rs 5.89 crore in March 2026 up 11.01% from Rs. 5.31 crore in March 2025.

Quarterly Net Profit at Rs. 1.21 crore in March 2026 up 6.66% from Rs. 1.14 crore in March 2025.

EBITDA stands at Rs. 1.85 crore in March 2026 up 11.45% from Rs. 1.66 crore in March 2025.

Indbank Merchan EPS has increased to Rs. 0.27 in March 2026 from Rs. 0.26 in March 2025.

Indbank Merchan shares closed at 35.90 on April 17, 2026 (NSE) and has given -14.40% returns over the last 6 months and 11.91% over the last 12 months.









Indbank Merchant Banking Services


Standalone Quarterly Results
in Rs. Cr.











Mar'26
Dec'25
Mar'25


Net Sales/Income from operations
5.89
6.25
5.31


Other Operating Income
--
--
--


Total Income From Operations
5.89
6.25
5.31


EXPENDITURE


Consumption of Raw Materials
--
--
--


Purchase of Traded Goods
--
--
--


Increase/Decrease in Stocks
--
--
--


Power &amp;amp; Fuel
--
--
--


Employees Cost
2.62
2.03
2.26


Depreciation
0.07
0.06
0.10


Excise Duty
--
--
--


Admin. And Selling Expenses
--
--
--


R &amp;amp; D Expenses
--
--
--


Provisions And Contingencies
-0.10
0.11
-0.02


Exp. Capitalised
--
--
--


Other Expenses
1.55
1.46
1.42


P/L Before Other Inc. , Int., Excpt. Items &amp;amp; Tax
1.76
2.60
1.55


Other Income
0.03
0.00
0.00


P/L Before Int., Excpt. Items &amp;amp; Tax
1.78
2.60
1.56


Interest
0.01
0.02
0.04


P/L Before Exceptional Items &amp;amp; Tax
1.77
2.58
1.52


Exceptional Items
--
--
--


P/L Before Tax
1.77
2.58
1.52


Tax
0.67
0.67
0.38


P/L After Tax from Ordinary Activities
1.11
1.92
1.14


Prior Year Adjustments
--
--
--


Extra Ordinary Items
0.11
--
--


Net Profit/(Loss) For the Period
1.21
1.92
1.14


Equity Share Capital
44.38
44.38
44.38


Reserves Excluding Revaluation Reserves
--
--
--


Equity Dividend Rate (%)
--
--
--


EPS Before Extra Ordinary


Basic EPS
0.27
0.43
0.26


Diluted EPS
0.27
0.43
0.26


EPS After Extra Ordinary


Basic EPS
0.27
0.43
0.26


Diluted EPS
0.27
0.43
0.26


Public Share Holding


No Of Shares (Crores)
--
--
--


Share Holding (%)
--
--
--


Promoters and Promoter Group Shareholding


a) Pledged/Encumbered


- Number of shares (Crores)
--
--
--


- Per. of shares (as a % of the total sh. of prom. and promoter group)
--
--
--


- Per. of shares (as a % of the total Share Cap. of the company)
--
--
--


b) Non-encumbered


- Number of shares (Crores)
--
--
--


- Per. of shares (as a % of the total sh. of prom. and promoter group)
--
--
--


- Per. of shares (as a % of the total Share Cap. of the company)
--
--
--


Source :  Dion Global Solutions Limited

Q4 FY25-26	Mar 26	Mar 25	Growth
Revenue	201	104	93%
Gross Profit	25	-32	178%
Net Profit	14	-19	173%

Rapid results

Latest Results

Navkar Corp

NELCO

Earnings Update