Investors | HCLTech

HCLTech Announces
Second Quarter
FY 2024 results

Our revenue growth of 1.0% QoQ and 3.4% YoY on a constant currency basis, with a 154 bps QoQ improvement in operating margin and improving cashflows, reflect our ability to execute well in an evolving business environment and our commitment to operational efficiency. Our new bookings of US$ 4 Bn this quarter is at an alltime high, driven by a standout mega deal. This achievement underscores our ability to seize exceptional opportunities in the market and gives us optimism for our medium-term growth prospects.

C Vijayakumar
Chief Executive Officer and Managing Director | HCLTech
C Vijayakumar

Q2, FY24 Highlights

Revenue

Revenue

  • INR Revenue of ₹ 26,672 Crore, up 1.4% QoQ & up 8.0% YoY
  • Constant Currency (CC) Revenue up 1.0% QoQ & up 3.4% YoY
  • USD Revenue of US$ 3,225 Mn, up 0.8% QoQ & up 4.6% YoY
  • HCLTech Services Revenue up 1.6% QoQ & up 3.4% YoY CC
  • Digital Revenue up 3.8% YoY CC; contributes 37.6% of HCLTech Services Revenue
  • HCLSoftware Revenue up 3.6% YoY CC
  • HCLSoftware ARR at US$ 1.03 Bn+, up 3.9% YoY CC
  • Clients: $100 Mn+ up by 3 YoY, $50 Mn+ up by 7 YoY
Profitability & Return Metrics

Profitability & Return Metrics

  • EBIT at ₹ 4,934 Crore (18.5% of revenue), up 10.6% QoQ & up 11.5% YoY. Services EBIT Margin up 212 bps QoQ
  • Net Income at ₹ 3,832 Crore (14.4% of revenue), up 8.4% QoQ & up 9.8% YoY
  • ROIC (on LTM basis) at 32.2% {5 Years high}, up 347 bps YoY
  • OCF/NI at 151% & FCF/NI at 142% (on LTM basis)
  • Dividend of ₹ 12/- per share, 83rd consecutive quarter of dividend pay-out
Bookings

Bookings & Pipeline

  • TCV (New Deal wins) at US$ 3,969 Mn
  • Won 16 Large deals - 10 in Services & 6 in Software
People

People

  • Total People Count at 221,139; Net addition: -2,299
  • Added 3,630 freshers
  • LTM Attrition at 14.2%*, (down from 23.8% in Q2 of last year)
ESG - Awards and Recognitions

ESG and CSR

  • EcoVadis has rated HCLTech 'Gold' and placed us in the 94th percentile for our 'advanced' sustainability performance.
  • The company has launched the HCLTech Grant in the Americas program and has committed US$ 5 Mn over 5 years for the program.
FY’24 Guidance

FY’24 Guidance

  • Company Organic Revenue growth expected to be between 4.0% and 5.0% YoY in CC
  • Services Organic Revenue growth expected to be between 4.5% and 5.5% YoY in CC
  • Company Revenue growth (including ASAP acquisition) expected to be between 5.0% and 6.0% YoY in CC
  • EBIT margin expected to be between 18.0% and 19.0%

The EBIT Margin guidance assumes USD-INR currency rate of US$ 1 = ₹ 82/- and other currencies at FY’23 average exchange rates

*Note: Attrition excludes involuntary attrition and digital process operations.

All financials

HCLTech Overview

HCLTech is a global technology company, home to more than 221,000+ people across 60, delivering industry-leading capabilities centered around digital, engineering, cloud and AI, powered by a broad portfolio of technology services and products.

We work with clients across all major verticals, providing industry solutions for Financial Services, Manufacturing, Life Sciences and Healthcare, Technology and Services, Telecom and Media, Retail and CPG, and Public Services. Consolidated revenues as of 12 Months Ended September 30, 2023 totaled US$ 12.9 Bn.

Learn more

HCLTech Annual Report 2023

HCLTech Annual Report 2023

Sustainability Report 2023

We are delivering long-lasting impact through our actions as a company and through our pacts with stakeholders for a more sustainable future.

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Fast Facts and Key Financial Data

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Contact

Manish Anand

Executive Vice President & Company Secretary


HCL Technologies Limited

2nd Floor, Corporate Towers,
Plot No. 3A, Sector 126,
Noida – 201304
Uttar Pradesh, India


Contact No.

+91 120 4306000

Email address

investors@hcl.com

Nitin Mohta

Senior Vice President & Head – Investor Relations


HCL Technologies Limited

2nd Floor, Corporate Towers,
Plot No. 3A, Sector 126,
Noida – 201304
Uttar Pradesh, India


Contact No.

+91 120 4306000

Email address

nitin.mohta@hcl.com

Registrar & Share Transfer Agent

Link Intime India Private Limited


Unit: HCL Technologies Limited

C 101, 247 Park, L.B.S.Marg, Vikhroli (West), Mumbai – 400083
Maharashtra, India


Contact No.

1800 1020 878

Fax

+91 22 4918 6060

Email address

rnt.helpdesk@linkintime.co.in