Investors | HCLTech

HCLTech Announced Results
for Q2 FY25 on October 14

We delivered a strong quarter with revenue growing 1.6% QoQ in constant currency and EBIT coming in at 18.6%. This growth was well distributed across verticals, geographies, and offerings. HCL Software has delivered a stellar performance of 9.4% YoY this quarter and 6.4% growth in H1 FY25 in constant currency, demonstrating the increasing relevance of our products for the digital economy. Our pipeline is very strong, including Data & AI, Digital Engineering, SAP migration and efficiency led programs. Our GenAI offerings like AI Force and AI Foundry are resonating very well with our clients and should be drivers of efficiency, growth, and innovation over the medium term.

C Vijayakumar

Chief Executive Officer and Managing Director | HCLTech

Q2 FY 2025 Highlights

Revenue

INR Revenue of ₹28,862 Crores, up 2.9% QoQ & up 8.2% YoY
Constant Currency (CC) Revenue up 1.6% QoQ & up 6.2% YoY
USD Revenue of $3,445M, up 2.4% QoQ & up 6.8% YoY
HCLTech Services Revenue up 1.6% QoQ & up 5.9% YoY CC
Digital Revenue up 7.8% YoY CC; contributes 38.5% of Services
HCLSoftware Revenue up 9.4% YoY CC
HCLSoftware ARR at $1.05B, up 0.6% YoY CC

Profitability & Return Metrics

EBIT at ₹5,362 Crores (18.6% of revenue), up 11.8% QoQ & up 8.7% YoY
NI at ₹4,235 Crores (14.7% of revenue), down 0.5% QoQ & up 10.5% YoY
ROIC (on LTM basis) – Company at 35.7%, up 353 bps YoY; Services at 43.5%, up 403 bps YoY
OCF at $2,521M and FCF at $2,388M (on LTM basis)
FCF/NI at 119% (on LTM basis)
Dividend of ₹12/- per share, 87^th consecutive quarter of dividend pay-out

Bookings

TCV (New Deal wins) at $2,218M

People

Total People Count at 218,621; Net addition: (780)
Added 2,932 freshers
LTM Attrition at 12.9%*, (down from 14.2% in Q2 of last year)

ESG - Awards and Recognitions

HCLTech ranked #1 India-headquartered company in TIME magazine’s World’s Best Companies 2024 highlighting HCLTech’s exceptional performance across employee’s satisfaction, revenue growth and ESG metrics
HCLTech has been ranked No. 7 in the BW Businessworld India’s Top 50 Most Sustainable Companies 2024 listing, and No. 2 in the IT & Communications Sector
HCLTech wins Equinix Social Governance Award for Asia Pacific

FY25 Guidance

Company Revenue growth expected to be between 3.5% - 5.0% YoY in CC
Services Revenue growth expected to be between 3.5% - 5.0% YoY in CC
EBIT margin to be between 18.0% – 19.0%

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

Financial Results

Investor Call Recording

Q2

HCL Technologies Q2, FY25 Earnings Call audio recording

Investor Call Transcript

Q2

Q2, FY25 Earnings Conference Call Transcript

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HCLTech Overview

HCLTech is a global technology company, home to more than 218,000 people across 59 countries, 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 ending September 2024 totaled $13.7 billion.

About Us Overview