HCL Technologies Ltd is a leading global IT services company that helps global enterprises re-imagine and transform their businesses through Digital technology transformation. The company is primarily engaged in providing a range of software services, business process outsourcing and infrastructure services. The company is spread across 49 countries with 170,000+ employees and its client base, including 250 of the fortune 500 companies.
• The company leverages an extensive offshore infrastructure and its global network of offices in various countries and professionals to deliver solutions across select verticals including Financial Services, Manufacturing, Telecommunications, Media, Publishing, Entertainment, Retail & CPG, Life Sciences & Healthcare, Oil & Gas, Energy & Utilities, Travel, Transportation & Logistics and Government.
• Revenue for Q1FY22 was up 12.5% YoY to Rs. 20,068cr (on CC basis +11.7% YoY, +0.7% QoQ).
• Improving digital transformation/digital engineering services yielded in robust growth in Lifesciences & Healthcare of
22.1%/5.4% YoY/QoQ in CC terms. This in-turn benefitted ERS segment with 10.7% YoY/4.3% QoQ revenue growth.
• BFSI and Tech Services verticals grew 8.8%/2.9% and 14.9%/1.6% YoY/QoQ in CC terms, while Telecom rose 17.0% YoY in CC
• Products & Platforms business registered a growth of 6.0% YoY on CC basis (-1.0% QoQ) on large deal wins (8 services and 4 products) while maintaining healthy renewal rates.
• Geographical focus on new frontier markets with leadership augmentation and healthy headcount addition (7,522 net addition in Q1 and around 20k including sub-con over the past two quarters) supports the high visibility of FY22E growth.
• Given company’s robust pipeline, strong booking momentum, solid balance sheet along with growing clients and large deal wins, the management expects to deliver sustained long-term growth.
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