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HCL announced results for FY’21 third quarter on January 15, 2021
HCL Technologies Q3 FY’21 Earnings Call audio recording
HCL Technologies presents at IIFL's 12th Enterprising India Global Investors’ Conference
C Vijayakumar, President and CEO, HCL Technologies, presents on the medium-term Technology opportunities
Click here to download the presentation
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”
10-Dec-2020: Press Release: “HCL Technologies enters Vietnam; will create significant local digital employment opportunities”
30-Oct-2020: Disclosure under Reg. 23(9) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
13-Oct-2020: Press Release: “HCL Technologies wins ‘Proactive Customer Service 2020 Microsoft Partner of the Year’ Award”
01-Oct-2020: Press Release: “HCL and IBM expand alliance to help organizations with digital transformation”
30-Sep-2020: Outcome of AGM
29-Sep-2020: Timelines for Trading Window closure – Update
28-Sep-2020: Board Meeting Newspaper Advertisement- Oct’ 2020
22-Sep-2020: Timelines for Trading Window closure
21-Sep-2020: Press Release: “HCL Technologies Announces Intent to Acquire Leading Australian IT Solutions Company, DWS Limited”
16-Sep-2020: Press Release: “HCL and Google Cloud Expand Partnership to Deliver Accelerated Business Intelligence Platform”
11-Sep-2020: Press Release: “HCL Technologies joins NVIDIA partner network, will pursue opportunities in AI space”
09-Sep-2020: Press Release: “HCL’s RMI Solution for manufacturing now even stronger with PTC and HPE joining forces”
2-Sep-2020: Press Release: “HCL Technologies named a Leader in Gartner Magic Quadrant For Data Center Outsourcing and Hybrid Infrastructure Managed Services, North America and Europe”
25-Aug-2020: Release- : HCL Technologies Launches a Global Hackathon to Identify Long-Term Technology Solutions to the COVID-19 Pandemic
13-July-2020: Scheme of Amalgamation amongst HCL Eagle Limited, HCL Comnet Limited, HCL Technologies Solutions Limited, Concept2Silicion Systems Private Limited and HCL Technologies Limited and their respective shareholders and creditors
06-July-2020: Board Meeting Newspaper Advertisement-AMJ’20
03-July-2020: Closure on Trading Window - Update
03-July-2020: Board Meeting Intimation -AMJ’20 quarter
16-June-2020: Release – “HCL Technologies commences operations in Sri Lanka; to leverage the country’s IT workforce”
02-June-2020: Release – “Temenos and HCL Technologies sign exclusive agreement to market Temenos’ Multiexperience Development Platform to non-financial services enterprises”
28-May-2020: Release- “HCL Technologies and Broadcom Expand Their Global Preferred Services Partnership to Include Symantec Enterprise Security Consulting”
18-May-2020: Disclosure under Reg. 23(9) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
01-May-2020: Conference Call Invite- Revised
30-Apr-2020: Conference Call Invite
25-Apr-2020: Board Meeting Advertisement- May, 2020
23-Apr-2020: Board meeting intimation
23-Mar-2020: HCL releases BigFix 10: Bringing new innovations to the industry's most comprehensive endpoint management platform
19-Mar-2020: Timelines for Trading Window closure
19-Mar-2020: Press Release-“ HCL Releases Unica V12.0: Announcing the New, Cloud Native Unica Platform – Precision Marketing at Scale
26-Feb-2020 : Press Release- “HCL successfully completes first year of digital workplace services at KONE”
18-Feb-2020 : Press Release: “HCL Technologies to Launch Global Delivery Center in Hartford, Connecticut with Anchor Client Stanley Black & Decker”
18-Feb-2020 : Press Release- “Fonterra Co-operative selects HCL Technologies for IT Infrastructure Transformation”
24-Jan-2020 : Press Release - HCL Technologies Honors Global Goodwill Champions at the 2020 World Economic Forum in Davos
22-Jan-2020 : Press Release - C Vijayakumar, CEO, HCL Technologies Named Chairman of World Economic Forum's IT Governors Community
21-Jan-2020 : Press Release - HCL to Explore Technology-Powered Future of Digital Enterprises at the World Economic Forum 2020
08-Jan-2020 : Conference call on Financial Results for the quarter and nine months ended December 31, 2019
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
FY 2021 Guidance
- Revenue expected to grow QoQ between 2% to 3% in constant currency for Q4, FY’21, including DWS contribution.
- EBIT expected to be between 21.0% and 21.5% for FY’21
Key Highlights (for the quarter ending December 2020)
- HCL Revenue cross US$ 10 billion milestone in CY 20, delivering 3.6% YoY growth in constant currency.
– CY 20 delivered EBITDA at 26.5% and EBIT at 21.5%.
- HCL won 13 transformational deals across industry verticals, including Life Sciences and Healthcare, Technology and Financial Services.
- Broad based growth driven by Mode 2 and Products and Platforms.
– Mode 2 has been the prime driver of growth, up 25.0% YoY and 10.9% QoQ in constant currency, led by good traction witnessed in cloud native and digital programs.
– Products and Platforms business has clocked healthy 9.3% YoY growth in constant currency on back of strong new license sales and robust renewals.
- This quarter, margin expansion has been robust on both YoY and QoQ basis.
– EBITDA at 28.2% expanded 355 bps and 157 bps on YoY and QoQ basis respectively.
– EBIT at 22.9% expanded by 265 bps and 129 bps on YoY and QoQ basis respectively.
– It is noteworthy that EBITDA on Ind AS basis, delivered a strong 29.1%.
- Cash Generation and conversion continues to be very strong during CY 20 and for the quarter.
– During CY 20, we generated Operating Cash Flow of US $ 2667 mn and Free Cash Flow of US $ 2407 mn, up 63.5% and 82.8% respectively on full year YoY basis.
– Gross Cash stands at US $ 2620 mn and Net Cash at US $ 2,202 mn at the end of December 31st, 2020.
- Snapshot of Consistent & Strong Cash Perfromance in the past 5 Quarters
Particulars Quarter Ended Calendar Year 2020 Dec-19 Mar-20 Jun-20 Sep-20 Dec-20 Operating Cash Flow (US $ mn) 709 521 819 643 684 2,667 Free Cash Flow (US $ mn) 657 452 757 578 621 2,407 Operating Cash Flow (OCF) / Net Income (NI) 166% 121% 212% 152% 127% 150% Net Cash (US $ mn) 1,101 1,359 1,329 1,826 2,202 2,202
- Cash EPS at ₹ 62.2 and EPS at ₹ 48.7 grew at healthy clip of 27.9% and 26.0% respectively during CY 20.
- Declared Dividend of ₹ 4 /- per share, being 72nd consecutive quarter of dividend pay-out.
- IT Services Attrition (LTM) at 10.2%, down 667 bps on YoY basis. Net Additions at 6,597 during the quarter.
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