Annual Report 2021: Accelerated Growth - $10B and Beyond | HCL Technologies

Annual Report
2021

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The New Essential

The confluence of technology and human ingenuity

It’s the best of humanity, bettered by technology.
It’s technology brought to life by the best of humanity.
It’s "THE NEW ESSENTIAL".

As we emerge from a year that tested the limits of our resilience, as we enter the world of the new normal, what are the essential elements of success, for both business and society?

They revealed themselves during the COVID-19 pandemic – in our potential to problem solve at scale and innovate at speed, in our ability to act, adapt and advance at a pace never before seen. Achieving this in the midst of a crisis was possible because we combined the best in digital technology with qualities that are uniquely human ingenuity. Collaboration. Creativity. Agility. Empathy.

Enterprises about to return to “business as unprecedented” realize that transformative digital solutions are now a must-have, not an option. If we apply them in combination with the intangibles of the human spirit, we won’t return to the way things were – that’s not possible – but will go forward to the way things can be.

Accelerated Growth -
$10B and Beyond

$10.17B Revenue (USD)

168K+ ideapreneurs

50 Countries

157 Nationalities

Highest shareholder return delivered in FY21 among Large Cap Technology Companies
Fastest-growing large technology company over five years
Among the World’s Best Employers
A differentiated and integrated portfolio
Mode 1-2-3 Strategy

Highest shareholder return

delivered in FY21 among Large Cap Technology Companies
*Based on indexed share price increase

Fastest growing large technology company

over five years

Among the World’s Best Employers

empowering ideapreneurs to innovate, collaborate and stay resilient

A differentiated and integrated portfolio

enabling outcomes for clients across major industries

Mode 1-2-3 strategy

the growth blueprint for a sustainable, scalable and resilient digital enterprise

Shiv Nadar

Founder &
Chief Strategy Officer
At HCL, we have always believed that technology and people working together can generate positive change that will advance the world to the next stage.
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Roshni Nadar Malhotra

Chairperson
HCL has always been the partner-of-choice for leading enterprises to augment human ingenuity with next-gen technology solutions – “The New Essential”.
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C Vijayakumar

Chief Executive Officer
During a year of crisis and upheaval, HCL not only served its clients and safeguarded its employees but delivered record results.
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Shiv Nadar

Founder &
Chief Strategy Officer

Roshni Nadar Malhotra

Chairperson

C Vijayakumar

Chief Executive Officer

Board of Directors Leadership

Prateek Aggarwal

Chief Financial Officer

Resilience in the Face of Adversity

Perspectives from the CFO

HCL more than weathered a year dominated by the pandemic crisis, reporting strong and in some cases record financial results.
CFO Prateek Aggarwal explains how the company was able to show such resilience in such a challenging period.

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Apparao VV

Chief Human Resources Officer

Empathy in Times of Crisis

Perspectives from the CHRO

Like all companies, HCL has been through a wrenching 18 months.
CHRO Apparao VV, one of the leaders of HCL’s pandemic response, describes the combination of technology and human ingenuity, of empathy and effectiveness, that has driven that response.

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Financial highlights

HCL continues to deliver strong growth momentum in FY21. This reflects in the company’s stellar performance across its service offerings in digital, along with an all-time high of large deals TCV (Total Contract Value). This has enabled highest shareholder returns during this fiscal.

$10.17BRevenue
₹ 15,853CR 13.4% increase on YoY basis Profit before tax
₹ 19,618CR Operating cash flow 47% increase YoY
$7.3BNew Deal TCV 18% increase YoY
₹ 75,379CR Revenue 6.7% increase YoY
20.5%Profit before Taxes, Finance costs and, other Income in FY21
58New large deals signed
50%Total increase in $100M+ clients over past two FYs
*3 year CAGR
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*3 year CAGR
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50 Countries.
157 Nationalities.
One HCL

The collective ingenuity of over 168,000 ideapreneurs across the world positions us as the industry’s partner-of-choice for empowering “The New Essential”

Global presence Delivery centers Innovation labs

60+

Innovation labs

Our innovation labs help ideate, develop and deliver futuristic solutions through next generation technologies for the business transformation journeys of our clients.

100+

Engineering labs

Our engineering labs help design, test and accelerate product development and certification by leveraging the latest technologies to create immersive customer experiences.

215

Delivery centers

Our delivery centers support global customers and partners by providing access to the latest technology expertise and business-oriented technology solutions.

A Landmark year

Recognized as best-in-class by the industry’s best. Committed to not resting on our accolades, with strategic investments across our stakeholder ecosystem.

  • Employer
  • Media
  • Industry
  • Brand
  • Leadership
Forbes World’s Best Employers 2020

Ranked 30 globally and the No. 1 ranked brand with an India HQ

Top Employers Institute

recognizes HCL as a “Top Employer” across 11 countries

Universum Global’s Most Attractive Employers

Ranked 53 among Indian graduates and young professionals in the Engineering/IT domain

Business Standard’s Company of the Year

at the BS Annual Awards 2020 for stellar performance, innovation and global impact

CNBC TV18’s Winners of the Decade

Only technology company honored for shareholder wealth creation

Forbes Global 2000

Listed at #809.Featured for the 11th consecutive year

Included in ISG’s Big 15

Among the top 10 managed services companies in ISG Global Service & Technology standouts

Industry-leading corporate governance quality score

received from Institutional Shareholder Services

First to receive Intertek’s “PROTEK” certification

among tech services companies headquartered in India, for “Prevention of Spread of Infection”

Brand Finance Global 500 2021

5th strongest Global IT Services brand. Up 72 spots to rank 353

BrandZ Top 75 Most Valuable Indian Brands

Ranked 42. Top 50 brand since inception

Brand Finance India 100 2020

Ranked 9. 5th consecutive year in the top 10

Shiv Nadar

Founder and Chief Strategy Officer,
HCL Technologies, was honored by CNBC TV18 with the “Lifetime Achievement Award” at India Business Leader Awards 2021

Roshni Nadar Malhotra

Chairperson, HCL Technologies, featured in:
Forbes Asia’s Power Businesswomen 2020 Fortune’s; 50 Most Powerful Women at #10

C Vijayakumar

President and CEO, HCL Technologies, featured in Business Today’s Best CEOs of India 2020, recognized as CEO of the Year in the IT/ITES industry

Investing in growth and innovation

New innovation center in Canada

350-seat facility to deliver advanced solutions and reaffirm decade-plus commitment in Canada

The first Cybersecurity Fusion Center in Europe

Our state-of-the-art CSFC in Gothenburg, Sweden will enable clients to safeguard their organizations across data sovereignty, cyber attack, threat detection and resolution

Better Health Hackathon: #CodeForCovid19

The world’s largest collaboration and crowd-sourcing platform to design solutions that addressed the wide-ranging, systemic challenges of COVID-19, organized with top partners across academia, industry, tech, life sciences and healthcare

New Vistas employee strength crosses 15K

Our strategy of expanding to emerging talent hubs achieved significant milestone with a 43 percent growth in our workforce across our New Vistas of Lucknow, Madurai, Nagpur, and Vijayawada, cities that offer unique competitive advantages enabling operational resilience and scalability

Commenced operations in Sri Lanka and Vietnam

Strategic delivery locations to create local employment opportunities, upskill talent and deliver best-in-class solutions for clients worldwide

Acquisition of the DWS Group

Acquired the Australian IT, business and management consulting group focused on clients across verticals in Australia and New Zealand

New frontier expansion and investments

Identification of the next global growth centers for the IT Services market with targeted expansion focus driven by regional leadership, talent and partnerships. Markets include Brazil, Mexico, South Korea, Vietnam, South Africa, Spain, and Portugal

Choose France – Indian Investment in France 2020 winners

HCL was recognized by the Indo-French Chamber of Commerce and Industry at its awards organized in partnership with Business France and the French Ministry of Economy and Finance

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Sustainability

Creating harmony between the planet, people, and prosperity. At HCL, we have always built sustainability principles and actions into the strategy, culture, and day-to-day operations of our company.

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Resilience for a better future

The capacity to face any crisis is rooted in resilience. We worked tirelessly through the year to enable our employees, our clients and the communities we serve remain resilient during this challenging time.

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Business Highlights

Client Perspectives Client's words of trust

Intelligent choices for a resilient and sustainable business

In a collaborative world, the three ecosystems allow us to piece together knowledge, capabilities, and insights to radically reimagine customer journeys and deliver unassailable value.

A comprehensive suite of end-to-end digital offerings to address the traditional and transformational needs of large enterprises.

HCL ERS partners with global enterprises in accelerating product development by leveraging the latest technologies, monetizing product services and client experiences.

HCL P&P provides modernized software products and IP-led offerings for enterprise innovation across a broad range.