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Accelerated Growth – BW Businessworld

Accelerated Growth – BW Businessworld

Rank 16 – HCL Technologies

Roshni Nadar Malhotra, Chairperson

Sector: IT/ITES

Overall Avg. Score: 2.75

Revenue: Rs 76,306 crore

Based on indexed share price, HCL Technologies delivered the highest shareholder return in FY21 among large cap technology companies. 

This as well as other factors such as work culture have contributed to the company being ranked 16th in the BW Businessworld Most Respected Companies survey this year. 

HCL said it has always believed that technology and people working together can generate positive change that will advance the world to the next stage. In fact, at HCL, they call this partnership of digital technologies and the human spirit ‘The New Essential’.

“As we worked to help our clients navigate through these turbulent times with our advanced and innovative solutions, we also worked continuously to help the 168,000-plus HCLites and their family members stay safe and healthy,” said Shiv Nadar, Founder and Chief Strategy Officer, HCL Technologies in his message to the shareholders. 

Timely Covid Planning

On her part, Chairperson Roshni Nadar Malhotra said that for HCL, the top priority has always been the health and safety of its employees and business continuity for their clients. “In the early days of the Covid-19 pandemic itself, HCL pushed the pedal to facilitate the transition of employees and clients to work remotely and build capacity through swift infrastructure scale-up. Our timely Covid-19 planning led to 96 per cent of our employees working from home. It was made possible due to the commitment of our employees, discipline of the leadership, and our robust processes,” she said. 

In the midst of a pandemic, HCL was able to support clients in the running of their businesses and digitising and modernising their applications and operations. This led to record revenue of Rs 75,379 crore ($10.17 billion) representing 6.7 per cent year-on-year growth. EBITDA (profit before taxes, finance cost, other income, depreciation and amortisation) in FY21 was at an all-time high of 27.6 per cent. Also, the company’s EBIT (profit before taxes, finance cost and other income) of Rs 16,165 crore grew 16.3 per cent Y-o-Y.

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In a year when the world faced tremendous economic difficulties HCL had strong operating cash flows generation of Rs 19,618 crore, up 47 per cent on a year-on-year basis. Also, it managed to set up a significant revolving credit facility with its banks which gave the company access to USD 800 million, on top of the Rs 10,283 crore in cash.

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