ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronEye IconIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintSite TitleTitle ChevronIcon Twitter
Technology Services

HCL Technologies Ltd.

Company Background

HCL Technologies is a major provider of IT services in India. It is logging rapid earnings growth while trying to catch up with the top three in the domestic sector. It has offices in more than 30 countries and over 100,000 workers on its payroll.

HCL group was established in 1976 in a garage where founder Shiv Nadar, who is now chairman, worked with friends. In 1978, it became the first in India to develop microcomputers. The group dealt mainly in hardware in the 1980s and 1990s but founded HCL Technologies in 1991, latching onto the growth of the nation's IT services industry.

The company's policy is to delegate considerable power to workers, who get active support from managers. It has institutionalized a system that gives lower-ranking employees the opportunity to contribute ideas; the company credits this with fueling growth.

HCL Technologies' leading shareholder is an investment firm, of which Shiv Nadar is an executive. The investment company and the group's holding company together own nearly 60% of HCL Technologies.

The holding company also presides over HCL Infosystems, a listed business that sells hardware.

Business Summary

HCL Technologies Ltd. engages in computer programming, consultancy, and related activities. It operates through the following segments: Software Services; Information Technology (IT) Services; and Business Process Outsourcing Services. The Software Services segment provides application development and maintenance, enterprise application, next generation software as a service application services, engineering, and research and development. The IT Services segment provides management services involving customer's information technology assets. The Business Process Outsourcing Services segment offers traditional contact centre and help desk services; and the next generation services around platform business process as a service. The company was founded by Shiv Nadar on November 12, 1991 and is headquartered in Noida, India.

Financial Highlights

Mar 2019 INRUSD
Gross Profit161,770M2,312.89M
Operating income119,980M1,715.40M
Income before tax126,220M1,804.62M
Net income101,200M1,446.89M
Diluted EPS36.770.52
Dividends Per Share40.05
Total Assets585,750M8,455.43M
Total liabilities171,060M2,469.28M
Total equity413,660M5,971.27M
Operating cash flow92,110M1,316.93M
Currency in INRCurrency in USD

Historical Data

 Jun 2014Mar 2016Mar 2017Mar 2018Mar 2019
Revenue 321,436.60M 415,144.82M 475,680M 505,690M 604,270M
Gross Profit 107,268.20M 123,159.29M 135,810M 135,290M 161,770M
Operating income 73,984.90M 83,439.12M 96,030M 99,560M 119,980M
Income before tax 79,173.30M 93,237.80M 105,420M 110,240M 126,220M
Net income 65,095.10M 74,142.25M 86,060M 87,210M 101,200M
EBITDA 80,793.50M 88,903.91M 104,310M 113,390M 140,710M
Diluted EPS 22.98 26.26 30.13 31.09 36.77
Dividends Per Share 2.50 11 12 4 4
Total Assets 340,559.30M 394,165.60M 457,620M 480,230M 585,750M
Total liabilities 144,487.70M 118,151.30M 126,400M 116,370M 171,060M
Total equity 195,421.80M 273,907.70M 329,490M 363,860M 413,660M
Operating cash flow 69,032.50M 44,600.40M 98,300M 88,140M 92,110M
 Jun 2014Mar 2016Mar 2017Mar 2018Mar 2019
Revenue 5,231.68M 6,340.91M 7,093.65M 7,844.28M 8,639.50M
Gross Profit 1,745.89M 1,881.13M 2,025.28M 2,098.62M 2,312.89M
Operating income 1,204.17M 1,274.44M 1,432.06M 1,544.37M 1,715.40M
Income before tax 1,288.62M 1,424.11M 1,572.09M 1,710.04M 1,804.62M
Net income 1,059.48M 1,132.44M 1,283.38M 1,352.80M 1,446.89M
EBITDA 1,314.99M 1,357.91M 1,555.54M 1,758.91M 2,011.78M
Diluted EPS 0.37 0.40 0.44 0.48 0.52
Dividends Per Share 0.04 0.16 0.17 0.06 0.05
Total Assets 5,662.30M 5,952.13M 7,047.35M 7,363.04M 8,455.43M
Total liabilities 2,402.32M 1,784.15M 1,946.56M 1,784.22M 2,469.28M
Total equity 3,249.17M 4,136.17M 5,074.15M 5,578.81M 5,971.27M
Operating cash flow 1,123.56M 681.22M 1,465.91M 1,367.23M 1,316.93M

Valuation Measures

Mar 2019
Operating margin19.85%
Profit margin16.74%

Key executives

  • President & Chief Executive Officer: C. Vijayakumar
  • Chief Financial Officer: Prateek Aggarwal
  • President-Engineering, R&D Services: Hanumantha Rao Gade
  • Chief Technology Officer & Corporate VP: Kalyan B. Kumar
  • Secretary, Senior VP & Compliance Officer: Manish Anand


  • Vama Sundari Investments (Delhi) Pvt Ltd. (42.8%)
  • NADAR SHIV (16.4%)
  • SBI Funds Management Pvt Ltd. (1.6%)
  • Vontobel Asset Management, Inc. (1.4%)
  • Artisan Partners LP (1.4%)
  • The Vanguard Group, Inc. (1.4%)
  • BlackRock Fund Advisors (1.2%)
  • ICICI Prudential Asset Management Co. Ltd. (1.1%)
  • Nomura Asset Management Singapore Ltd. (0.8%)
  • Lazard Asset Management LLC (0.7%)

Contact Details

  • Website:
  • Address: Technology Hub, SEZ, Plot No. 3A, Sector 126, Noida, 201304, India
  • Phone: +91.12.06125000

Related Companies

  • HCL Technologies Belgium BVBA
  • HCL Belgium NV
  • H&D ITAS Infrastructure Services GmbH
  • International Business Machines Corp. /Software Products/
  • HCL Technologies Germany GmbH
  • HCL Hong Kong SAR Ltd.
  • HCL (Brazil) Technologia da Informacao Ltda.
  • HCL Technologies (Thailand) Ltd.
  • HCL Technologies (Taiwan) Ltd.
  • Telerx Marketing, Inc.
  • Statestreet HCL Services (India) Pvt Ltd.
  • Urban Fulfillment Services LLC
  • Butler America Aerospace LLC
  • HCL Technologies France SAS
  • Datawave (An HCL Technologies Co.) Ltd.
  • Axon Solutions Pty Ltd. (Australia)
  • Hcl Training & Staffing Services Pvt Ltd.
  • Concept2Silicon Systems Pvt Ltd.
  • Volvo Information Technology AB /IT Business/
  • Trygstad Technical Services, Inc. /Assets/
  • HCL Technologies BPO Services Ltd.
  • Trygstad Technical Services, Inc.
  • PowerTeam, Inc.
  • HCL Australia Services Pty Ltd.
  • HCL Infocom Ltd.
  • HCL Bermuda Ltd.
  • Point to Point Ltd.
  • Sankalp Semiconductor Pvt Ltd.
  • HCL Comnet Ltd.
  • Honigsberg & Duvel Datentechnik GmbH


  • International Business Machines Corporation
  • Cognizant Technology Solutions Corporation Class A
  • Virtusa Corporation
  • EPAM Systems, Inc.
  • Acer Cyber Security, Inc.
  • NetSol Technologies, Inc.
  • Globant SA
  • Innodata Inc.
  • Cigniti Technologies Limited
  • SecureWorks Corp. Class A
  • Semcon AB
  • Firstsource Solutions Limited
  • PFSweb, Inc.
  • Information Services Group, Inc.
  • TXT e-solutions S.p.A.
Last Updated on 27 Mar, 2020

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this monthThis is your last free article this month

Stay ahead with our exclusives on Asia;
the most dynamic market in the world.

Stay ahead with our exclusives on Asia

Get trusted insights from experts within Asia itself.

Get trusted insights from experts
within Asia itself.

Get Unlimited access

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this month

This is your last free article this month

Stay ahead with our exclusives on Asia; the most
dynamic market in the world

Get trusted insights from experts
within Asia itself.

Try 3 months for $9

Offer ends April 30th

Your trial period has expired

You need a subscription to...

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers and subscribe

Your full access to the Nikkei Asian Review has expired

You need a subscription to:

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers
NAR on print phone, device, and tablet media