HCLTech Announces
Third Quarter
FY 2024 results
Q3, FY24 Highlights
Revenue
- INR Revenue of ₹ 28,446 Crore, up 6.7% QoQ & up 6.5% YoY
- Constant Currency (CC) Revenue up 6.0% QoQ & up 4.3% YoY
- USD Revenue of US$ 3,415 Mn, up 5.9% QoQ & up 5.3% YoY
- Services CC Revenue up 3.1% QoQ & up 4.2% YoY led by growth in Telecommunications, Media, Publishing & Entertainment (up 25.9% QoQ)
- Services Revenue crossed annual run rate of US$ 12 Bn (₹ 1,00,000 crore)
- Digital CC Revenue up 5.0% YoY; contributes 37.7% of Services
- Company growth powered by HCLSoftware CC Revenue (up 5.0% YoY)
- HCLSoftware ARR at US$ 1.06 Bn+, up 2.9% YoY CC
Profitability & Return Metrics
- EBIT at ₹ 5,615 Crore (19.8% of revenue), up 13.8% QoQ & up 7.4% YoY
- Net Income at ₹ 4,350 Crore (15.3% of revenue), up 13.5% QoQ & up 6.2% YoY
- ROIC (on LTM basis) – Company at 32.8%, up 301 bps YoY; Services at 40.1%, up 273 bps YoY
- OCF at US$ 2,697 Mn and FCF at US$ 2,566 Mn (on LTM basis)
- OCF/NI at 142% & FCF/NI at 135% (on LTM basis)
- Dividend of ₹ 12/- per share, 84th consecutive quarter of dividend pay-out
Bookings
- TCV (New Deal wins) at US$ 1,927 Mn
- Won 18 Large deals - 6 in Services & 12 in Software
People
- Total People Count at 224,756; Net addition: 3,617
- Added 3,818 freshers
- LTM Attrition at 12.8%*, (down from 21.7% in Q3 of last year)
ESG
- HCLTech has been awarded in the Gold Category under Climate Action Reporting of 3rd ICAI Sustainability Reporting Awards 2022-23
FY’24 Guidance
- Company CC Revenue growth (including ASAP acquisition) expected to be between 5.0% and 5.5% YoY
- 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 DPO.
Investor Call Recording
HCL Technologies Q3, FY24 Earnings Call audio recording
Investor Call Transcript
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HCLTech is a global technology company, home to more than 224,700+ people across 60 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 Ended December 31, 2023 totaled US$ 13.1 Bn.
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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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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.comNitin 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.comRegistrar & 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