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HCL announced its Q1 FY’22 results on July 19, 2021
HCL Technologies Q1 FY’22 Earnings Call audio recording
HCL Technologies Q1 FY’22 press conference video recording
J.P. Morgan 49th Annual Global Technology, Media and Communications Conference
May 24 – 26, 2021
Mr. C Vijayakumar, President & CEO, HCL Technologies Ltd., in Fireside chat with JP Morgan Analyst.
Click here to watch the video
New Q1 FY22 Earnings Call - Playback number (available till 26th July 2021): +91-22-7194-5757/6663-5757 (Playback id: 425)
21-July-2021: Release – “HCL Technologies Wins 2020 Google Cloud Specialization Partner of the Year for Infrastructure Award”
20-July-2021: Release – "HCL launches SoFy, the Cloud Native Solution Factory and HCL Now, a Cloud-Native-as-a-Service offering"
20-July-2021: Information as required in regard to the appointment of new Managing Director in terms of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015
09-July-2021: HCL Technologies Announces Strategic Partnership with The Mosaic Company for Digital Transformation
06-July-2021: Trading Window closure
06-July-2021: Board Meeting Intimation- Quarter ended June 30, 2021
02-July-2021: Release – “HCL and Fiskars Group announce a strategic partnership for Digital Transformation”
21-June-2021: ‘Trading Window Closure Intimation’
21-June-2021: Release – “HCL appoints leadership team in South Korea, Vietnam and Taiwan to accelerate growth in Asia”
14-June-2021: Release – “HCL continues to accelerate its #HCLCloudSmart journey; appoints Siki Giunta to lead its Cloud Consulting and Offerings Strategy”
06-June-2021: Release – “HCL Software Launches its Cloud-Native, Web and Mobile- Ready Version of Domino Application Development Platform”
03-June-2021: Release – “HCL Tops the Edelweiss ESG Scorecard & Ratings for India’s top 100 Companies”
25-May-2021: Release – “HCL Technologies to Bring McLaren Health Care’s Digital Transformation Vision to Life and Deliver Cost-Efficient Solutions”
17-May-2021: Disclosure under Reg. 23(9) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
21-April-2021: Conference call on the Financial Results for the quarter and financial year ended March 31, 2021 (REVISED)
15-April-2021: Conference call on the Financial Results for the quarter and financial year ended March 31, 2021
12-April-2021: Board Meeting Intimation- April, 2021
12-April-2021: Trading Window Closure Intimation
23-Mar-2021: Timelines for trading window closure
10-Mar-2021: Subject: Intimation under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 --- Re. Issuance of USD denominated unsecured notes
04-Mar-2021: Subject: Intimation under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Re. Issuance of USD denominated unsecured notes
03-Mar-2021: Release – “HCL Technologies recognized as a leader in IDC MarketScape: Canadian Cloud Professional Services 2021 Vendor Assessment”
02-Mar-2021: Release – “HCL Software’s cloud-native Digital Experience and Unica marketing platforms now on Google Cloud”
01-Mar-2021: Intimation under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
(Issuance of USD denominated unsecured notes)
(Issuance of USD denominated unsecured notes)
25-Feb-2021: Intimation under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015-- Issuance of USD denominated unsecured notes
16-Feb-2021: Release- "HCL Foundation continues commitment to enhance rural lives; announces INR 16.5 crore ($2.27 million) grant to NGOs in sixth edition of HCL Grant"
08-Feb-2021: Release – “HCL Technologies marks $10B Revenue milestone, thanks Employees Worldwide with Special Bonus”
03-Feb-2021: Release – “HCL Technologies and Alteryx announce global strategic alliance to accelerate analytics automation and digital transformation for Global 2000 enterprises ”
27-Jan-2021 : Release – “HCL Technologies and University of California, Berkeley to Partner on advanced Health Technology Collaborative Laboratory”
Businesses across industries stand at an inflection point today. Far-reaching disruption fuelled by technologies like Digitalization, Analytics, Cloud, IoT and Automation mean these technologies lie at the core of any enterprise that is trying to reinvent itself. As the demand for these services increase, HCL Technologies is accelerating its evolution into a next-generation technology services firm through HCL’s Mode 1-2-3 strategy.
HCL’s Mode 1-2-3 strategy helps future proof our customers’ business, by deploying a concurrent, three-point spotlight on the existing core of their business, new growth areas as well as the ecosystems of the future. As detailed below, each of the three modes have distinct outcomes and growth potential.
Mode 1: CORE SERVICES
Under Mode 1, HCL delivers core services in the areas of applications, infrastructure, DPO and Engineering & R & D, leveraging DRYiCE autonomics to transform clients’ business and IT landscape making them “lean” and “agile”.
Mode 2: NEXT GENERATION SERVICES
Under Mode 2, HCL delivers experience-centric and outcome-oriented integrated offerings of Digital & Analytics, IoT WoRKS™, Cloud Native Services and Cyber-security & GRC services.
Mode 3: PRODUCTS & PLATFORMS
HCL continues to explore and enter into innovative IP-based partnerships, targeting specific next-generation opportunities. Mode 3 includes the external IP partnership with IBM extending now to half a dozen products; HCL also continues to invest in our internal IP creation strategy and expansion of capabilities and markets for DRYiCE, the next-generation Autonomics and Orchestration platform.
HCL’s Mode 1-2-3 strategy is truly differentiating in the market place today and our clients are increasingly demonstrating their confidence in this strategy and our ability to deliver. We will continue to build and invest in our Mode 1-2-3 capabilities with the primary goal to be the partner of choice for our clients, globally. Lastly, we will continue to re-skill, train and build the capabilities of our employees to be future-ready.Our corporate strategy
see our corporate governance and corporate sustainability initiatives
- Strong client addition continues (on YoY basis): $50 mn+ clients up by 8, $20 mn+ clients up by 11, $10 mn+ clients up by 10, and $5 mn+ clients up by 6.
- IT Services attrition (on LTM basis) at 11.8% in Q1 FY'22 (down from 14.6% last year), reflective of the effectiveness of increased employee engagement initiatives and large scale upskilling programs.
- Total headcount at 176,499 with strong net Addition of 7,522 during the quarter.
Financial Highlights(for the quarter ending June 2021)
- Strong Booking performance: Q1 TCV of New Deal wins at US$ 1,664 mn registering 37% YoY growth enabled by 8 Large Services deal wins and 4 significant product wins.
- In Q1 FY'22, HCL's revenue stood at US$ 2,720 mn delivering a revenue growth at 11.7% YoY in constant currency on back of strong performance led by Mode 2 that grew 29.0% YoY this quarter and also driven by
– IT and Business Services grew by 13.0% YoY, led by Digital and Cloud transformation momentum
– Engineering and R&D Services grew by 10.7% YoY,
– Products & Platforms grew by 6.0% YoY.
- Cash Generation and conversion continues to be robust:
Particulars Quarter Ended
Last Twelve Months Ended
Operating Cash Flow (US $ mn) 447 2,230 Free Cash Flow (US $ mn) 403 1,986 Operating Cash Flow (OCF)/ Net Income (NI) 102% 129% Free Cash Flow (FCF) / Net Income (NI) 93% 115%
- Gross Cash stands at US$ 2,584 mn and Net Cash at US$ 2,053 mn at the end of June 30th, 2021.
- LTM EPS at ₹ 49.0 registered healthy growth at 13.0% YoY.
- Declared Dividend of ₹ 6 /- per share, being 74th consecutive quarter of dividend pay-out.