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Key Financial Data
All numbers are as per US GAAP, in mn US$, unless otherwised stated
|Earnings before interest, tax, depreciation and amortization EBITDA||1,009||1,539||1,777||1,995||2,345|
|Operating Income, EBIT||942||1,414||1,552||1,688||1,946|
|Diluted EPS (in INR)||26.3||29.9||31.3||36.8||40.8|
|Other Key Metrics|
|Effective Tax Rate||21.0%||18.8%||20.9%||19.7%||20.9%|
|Net Income Margin||17.9%||18.1%||17.4%||16.7%||15.6%|
|Return on Equity||28.2%||27.7%||25.5%||24.9%||23.6%|
- EPS for FY’15 to FY’19 have been adjusted for Bonus Issue announced on October 23, 2019.
- FY'16 financials (as above) are basis 9 months ended 31-Mar-2016, however diluted EPS and ROE for FY'16 have been annualized.
- ROE formula: Profit After Tax / Last five Quarter Average of Total Equity.
Corporate and Financial Highlights
- Strong Booking Performance: Q2 TCV of New Deal wins at US $ 2,245 mn registering 38% YoY growth enabled by 14 net new Large deal wins.
- Q2 revenue growth powered by services revenue at 5.2% QoQ and 13.1% YoY in constant currency.
- Engineering and R&D Services grew at robust 5.4% QoQ cc (12.7% YoY cc) driven by traction in digital engineering.
- IT and Business Services grew at strong 5.2% QoQ cc (13.2% YoY cc), driven by acceleration in application modernization and cloud transformation deals.
- Mode 2 continues to lead the growth momentum growing at 12.5% QoQ cc (36.3% YoY cc).
- HCL Technologies positioned as a Leader in The Forrester WaveTM for Application Modernization and Migration Services, Q3 2021
- HCL Technologies positioned as a Leader in 2021 Gartner® Magic QuadrantTM for Public Cloud IT Transformation Services. HCL ranked high in Gartner’s Critical Capabilities for Public Cloud IT Transformation Services report.
- All round growth across verticals and geographies YoY in constant currency basis.
Growth momentum led by Lifesciences & Healthcare (20.1% YoY cc), Telecommunications, Media, Entertainment and Publishing (13.4% YoY cc), Manufacturing (11.9% YoY cc), Technology & Services (10.8% YoY cc).
- Strong client addition across all categories. On YoY basis, $100 mn+ clients up by 1, $50 mn+ clients up by 12, $20 mn+ clients up by 18, $10 mn+ clients up by 18, and $5 mn+ clients up by 12.
- Hiring continued at a brisk pace with Net Addition of 11,135 during the quarter being the highest in the last 24 quarters. Total headcount now at 187,634.
- Cash Generation continues to be robust:
Particulars Quarter Ended
Last Twelve Months Ended
Operating Cash Flow (US$ mn) 465 2,052 Free Cash Flow (US$ mn) 390 1,798
- Gross Cash stands at US$ 2,696 mn and Net Cash at US$ 2,171 mn at the end of September 30, 2021.
- HCL announced a Payout policy that entails investor payouts of not less than 75% of Net Income cumulatively over 5 years FY’22 to FY’26. In line with this policy, the company has declared a dividend of INR 10/- per share for Q2, being 75th consecutive quarter of dividend pay-out.
- LTM EPS at INR 49.5 registered healthy growth at 9.5% YoY.