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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 2020 INRUSD
Gross Profit181,610M2,561.27M
Operating income141,290M1,992.63M
Income before tax140,200M1,977.26M
Net income110,570M1,559.38M
Diluted EPS40.740.57
Dividends Per Share60.08
Total Assets829,060M10,958.97M
Total liabilities314,850M4,161.86M
Total equity512,670M6,776.75M
Operating cash flow133,670M1,885.17M
Currency in INRCurrency in USD

Historical Data

 Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020
Revenue 415,144.82M 475,680M 505,690M 604,270M 706,760M
Gross Profit 123,159.29M 135,810M 135,290M 161,770M 181,610M
Operating income 83,439.12M 96,030M 99,560M 119,980M 141,290M
Income before tax 93,237.80M 105,420M 110,240M 126,220M 140,200M
Net income 74,142.25M 86,060M 87,210M 101,200M 110,570M
EBITDA 88,903.91M 104,310M 113,390M 140,710M 175,490M
Diluted EPS 26.26 30.13 31.09 36.77 40.74
Dividends Per Share 11 12 4 4 6
Total Assets 394,165.60M 457,620M 480,230M 585,750M 829,060M
Total liabilities 118,151.30M 126,400M 116,370M 171,060M 314,850M
Total equity 273,907.70M 329,490M 363,860M 413,660M 512,670M
Operating cash flow 44,600.40M 98,300M 88,140M 92,110M 133,670M
 Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020
Revenue 6,340.91M 7,093.65M 7,844.28M 8,639.50M 9,967.56M
Gross Profit 1,881.13M 2,025.28M 2,098.62M 2,312.89M 2,561.27M
Operating income 1,274.44M 1,432.06M 1,544.37M 1,715.40M 1,992.63M
Income before tax 1,424.11M 1,572.09M 1,710.04M 1,804.62M 1,977.26M
Net income 1,132.44M 1,283.38M 1,352.80M 1,446.89M 1,559.38M
EBITDA 1,357.91M 1,555.54M 1,758.91M 2,011.78M 2,474.96M
Diluted EPS 0.40 0.44 0.48 0.52 0.57
Dividends Per Share 0.16 0.17 0.06 0.05 0.08
Total Assets 5,952.13M 7,047.35M 7,363.04M 8,455.43M 10,958.97M
Total liabilities 1,784.15M 1,946.56M 1,784.22M 2,469.28M 4,161.86M
Total equity 4,136.17M 5,074.15M 5,578.81M 5,971.27M 6,776.75M
Operating cash flow 681.22M 1,465.91M 1,367.23M 1,316.93M 1,885.17M

Valuation Measures

Mar 2020
Operating margin19.99%
Profit margin15.64%

Key executives

  • President & Chief Executive Officer: C. Vijayakumar
  • Chief Financial Officer: Prateek Solek Aggarwal
  • President-Engineering, R&D Services: Hanumantha Rao Gade
  • Vice President-Global Information Technology: Ashu Kakkar
  • Chief Technology Officer & Corporate VP: Kalyan B. Kumar


  • Vama Sundari Investments (Delhi) Pvt Ltd. (43.3%)
  • NADAR SHIV (16.4%)
  • SBI Funds Management Pvt Ltd. (2.1%)
  • Artisan Partners LP (1.3%)
  • Life Insurance Corp of India (1.2%)
  • The Vanguard Group, Inc. (1.2%)
  • ICICI Prudential Asset Management Co. Ltd. (1.2%)
  • BlackRock Fund Advisors (1.1%)
  • Vontobel Asset Management, Inc. (1.0%)
  • Nomura Asset Management Singapore Ltd. (0.7%)

Contact Details

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

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Last Updated on 26 Feb, 2021

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