the Chairperson
Roshni Nadar Malhotra
Dear Shareholders,
This year, we celebrated the 25th anniversary of HCLTech going public. The company’s growth has been nothing short of spectacular, establishing itself as one of the finest global corporations out of India with world-class corporate governance, sustainability and social responsibility at its core. We have set the benchmark with industry-leading Total Shareholder Returns and several firsts in the industry. Thank you for your support and trust throughout this exciting journey.
FY25 marked another year of robust growth for HCLTech. Despite demand challenges, we achieved best-in-class growth for the second consecutive year. Our services revenue exceeded ₹100,000 crores, grew at 6.5% YoY, and have outperformed our comparable peers for the third year in a row. Our software business maintained over $1 billion annual recurring revenue. This highlights the strength of our differentiated portfolio that enables our clients navigate the rapid changes in the technology landscape led by technologies such as AI and quantum computing.
We continue to invest aggressively in our technology capabilities. We have made significant progress by developing a full-stack AI portfolio that allows clients to innovate and deploy real-world solutions at scale. We are also ensuring that we deliver our AI capabilities ethically and responsibly.
HCLTech is adopting AI widely across the organization and investing in upskilling employees in AI and allied technologies. Our focus on gender diversity has ensured a diversity rate of 29% across the company and 50% at the board level. We continue to provide platforms for more women leaders to build long-term careers with HCLTech.
Sustainability remains a top priority for us and we have made considerable progress in our journey to becoming a net-zero emission company by 2040. In recognition of these efforts, HCLTech was included in the S&P Global Sustainability Yearbook for the third year in a row and received Gold status from EcoVadis, placing it among the top 5% companies globally. We were also ranked No. 3 in Brand Finance’s Sustainability Perception Index in India.
Our uncompromising approach to high standards of governance and integrity was recognized by Ethisphere, which named HCLTech one of the World’s Most Ethical Companies 2025. This is the second year in a row we’ve earned this accolade.
HCLTech, through HCLFoundation and global CSR councils, has strengthened its social responsibility efforts. In India, we have increased HCLTech Grant outlay for FY26 by 45% to support innovative projects in water management, health, education and biodiversity. We have also pledged to lead the water stewardship in Yamuna basin as a part of the ‘CEO Water Mandate Water Resilience Coalition’. We believe these initiatives have the promise to deliver impact at scale and create replicable solutions. It’s also heartening to note the enthusiastic response we have received for the HCLTech Americas Grant initiative that supports path-breaking climate action programs by NGOs in the Americas.
Looking ahead, the demand environment is expected to remain challenging as clients continue to exercise caution due to uncertainties around global trade frameworks and geopolitical tensions. We remain focused on navigating these challenges and ensuring that HCLTech remains well-positioned to leverage the opportunities available. Technology evolution, driven by AI, is accelerating and the IT services industry is at an inflection point. Needless to say, the industry will need to reinvent itself to stay relevant. HCLTech is prepared to adapt to these shifts.
On behalf of the Board, I would like to thank the HCLTech leadership team and the 223,000+ HCLTechies led by our Managing Director & CEO, C Vijayakumar, for their passion and commitment, which make HCLTech stand apart year after year.
I also thank our shareholders, clients and business partners for their continued trust and support.
Best regards,
Roshni Nadar Malhotra
