We are pleased to report another quarter of industry-leading performance with 5.6 % YoY revenue growth on constant currency basis. Our Q1 Revenue and EBIT performance was slightly better than our expectations. We clocked in $2B TCV of new business Bookings. We are confident of decent growth in the coming quarters, positioning us well to deliver our revenue guidance for the year as clients continue to spend on GenAI and other emerging technologies.
Q1 FY 2025 Highlights
Revenue
- INR Revenue of ₹28,057 Crores, down 1.6% QoQ & up 6.7% YoY
- Constant Currency (CC) Revenue down 1.6% QoQ & up 5.6% YoY
- USD Revenue of $3,364M, down 1.9% QoQ & up 5.1% YoY
- HCLTech Services Revenue down 1.9% QoQ & up 5.8% YoY CC
- Digital Revenue up 6.0% YoY CC; contributes 37.4% of Services
- HCLSoftware Revenue up 3.5% YoY CC
- HCLSoftware ARR at $1.01B+, down 0.3% YoY CC
Profitability & Return Metrics
- EBIT at ₹4,795 Crores (17.1% of revenue), down 4.4% QoQ & up 7.5% YoY
- Net Income at ₹4,257 Crores (15.2% of revenue), up 6.8% QoQ & up 20.4% YoY
- ROIC (on LTM basis) – Company at 34.6%, up 350 bps YoY; Services at 42.8%, up 476 bps YoY
- OCF at $2,722M and FCF at $2,604M (on LTM basis)
- FCF/NI at 133% (on LTM basis)
- Dividend of ₹12/- per share, 86th consecutive quarter of dividend pay-out
Bookings
- TCV (New Deal wins) at $1,960M
People
- Total People Count at 219,401; Net addition: (8,080)
- Reduction in headcount due to divestiture (7,398)
- Added 1,078 freshers
- LTM Attrition at 12.8%*, (down from 16.3% in Q1 of last year)
ESG - Awards and Recognitions
- HCLTech secured the #3 spot in Brand Finance's Sustainability Perception Index in India.
- HCLTech wins SAP Pinnacle Award in Social Impact category for HCLTech AquaSphere that aids enterprises achieve their water conservation goals.
- Norfolk Southern awards HCLTech with Environmental Stewardship Award for 2023
FY25 Guidance
- Company Revenue growth expected to be between 3.0% - 5.0% YoY in CC
- Services Revenue growth expected to be between 3.0% - 5.0% YoY in CC
- EBIT margin to be between 18.0% – 19.0%
*Note: Attrition excludes involuntary attrition and digital process operations.
Investor Call Recording
HCL Technologies Q1, FY25 Earnings Call audio recording
Investor Call Transcript
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HCLTech Overview
HCLTech is a global technology company, home to more than 219,000 people across 60 countries, delivering industry-leading capabilities centered around digital, engineering, cloud and AI, powered by a broad portfolio of technology services and products.
We work with clients across all major verticals, providing industry solutions for Financial Services, Manufacturing, Life Sciences and Healthcare, Technology and Services, Telecom and Media, Retail and CPG and Public Services. Consolidated revenues as of 12 months ending June 2024 totaled $13.4 billion.
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We are delivering long-lasting impact through our actions as a company and through our pacts with stakeholders for a more sustainable future.
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Contact
Manish Anand
Executive Vice President & Company Secretary
HCL Technologies Limited
2nd Floor, Corporate Towers,
Plot No. 3A, Sector 126,
Noida – 201304
Uttar Pradesh, India
Contact No.
+91 120 4306000
Email address
Nitin Mohta
Senior Vice President & Head – Investor Relations
HCL Technologies Limited
2nd Floor, Corporate Towers,
Plot No. 3A, Sector 126,
Noida – 201304
Uttar Pradesh, India
Contact No.
+91 120 4306000
Email address
Registrar & Share Transfer Agent
Link Intime India Private Limited
Unit: HCL Technologies Limited
C 101, 247 Park, L.B.S.Marg, Vikhroli (West), Mumbai – 400083
Maharashtra, India
Contact No.
1800 1020 878
Fax
+91 22 4918 6060
Email address
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