HCL TECH LTD
RESULTS
COMPARISON
CONSOLIDATED RESULTS
HCL Technologies limited is considered as the fourth largest IT company in India. Its accounting year is July – June.
Its consolidated results available up to the Y/E June 2009 are compared below with 2 preceding years.
Its Net sales of FY0708-0609 have increased by 35% compared to FY0707-0608 and about 68% compared to FY0706-0607. Thus, consolidated revenue growth can be considered as quite healthy.
But, total expenditure for FY0708-0509 has also increased by 34% and 81% for the 2 preceding years respectively.
Consequently, Consolidated Net Profit at Rs.1319.63 Cr for the latest year is higher by 26% compared to the consolidated NPT of Rs.1051.41Cr for FY 0707-0608 and no increase at all compared to Rs.1318.31 cr in its preceding year of FY0706-0607.
The Basic EPS for FY0708-0609 is Rs.19.72 on a face value of Rs.2 /-compared to Rs.15.82 for the preceding year FY0707-0608 and Rs.20.2 for the FY0706-0607. Thus, there is no increase compared to the EPS 2 years before, though on last year’s reduced EPS, there is some improvement.
The public holding in the company is 31.85%.
While Sales Income has improved in a healthy manner, the reflection of this increase in sales in the margins has not been impressive – at the consolidated level.
If the consolidated Basic EPS for the year 0709-0610 matches Rs.21 of the 2nd previous year, at current price of 353/-, the PE Ratio on a consolidated basis would be 16.81.
YR0708-0609 | Dif%1 | Dif%2 | |||
Net Sales | 1022941 | 756278 | 606874 | 35 | 69 |
Other Optg Income | - | 19272 | 45585 | ||
SIT&WIP | - | - | 0 | ||
Raw Materials | 71737 | 52812 | 48530 | 36 | 48 |
Traded goods | - | - | |||
Employees Cost | 519438 | 366242 | 287216 | 42 | 81 |
Depreciation | 37547 | 29884 | 25386 | 26 | 48 |
Other Expenditure | 248594 | 206556 | 147729 | 20 | 68 |
Total Expenditure | 877316 | 655494 | 483475 | 34 | 81 |
P b I & ei | 145625 | 803 | 18035 | ||
Other Income | 26220 | 0 | |||
Pr Be In & EI | 171845 | ||||
Interest | 11244 | 1770 | 535 | ||
Pr aft In & EI | 160601 | ||||
Exceptional items | - | - | 556 | ||
P B T | 160601 | 118286 | 142795 | 36 | 12 |
Tax Expense | 28656 | 12903 | 10408 | 122 | 175 |
NPT after tax | 131945 | 105383 | 25 | ||
Extraordinary Items | - | - | |||
Net Profit | 131945 | 105383 | 25 | ||
Minority Interest | -18 | 242 | -107 | ||
Shares of Associates | - | - | |||
Other Related Items | - | - | |||
Consol. Net Profit | 131963 | 105141 | 131831 | 26 | 0 |
Dividend (%) | - | - | 0 | ||
Face Value (in Rs.) | 2 | 2 | 2 | 0 | 0 |
Paid-up Equity | 13405 | 13327 | 13274 | 1 | 1 |
Reserves | 480826 | 404604 | 393449 | 19 | 22 |
Basic EPS be EI | 19.72 | 15.82 | 20.2 | 25 | -2 |
Diluted EPS be EI | 19.49 | 15.35 | 19.46 | 27 | 0 |
Basic EPS aft EI | 19.72 | 15.82 | 25 | ||
Diluted EPS aft EI | 19.49 | 15.35 | 27 | ||
Public holding (No) | 2.13E+08 | 2.2E+08 | 2.2E+08 | -1 | -1 |
Public holding (%) | 31.85 | 32.46 | 32.45 | -2 | -2 |
STAND ALONE
RESULTS
The stand alone results for the last three years as also the results for the HY ended Dec 2009 and the latest q/e march 2010 are tabulated below for comparison.
Net Sales in the first 9 months up to March2010 reflects reasonable increase over proportionate Net sales of the year 0708-0609.But, there is no increase between the years 0708-0609 and the year 0707-0608. But, compared to the 2nd previous year, the increase is around 24%, which is not very impressive.
Total expenditure has come down by 4% in last year compared to its preceding year but has increased by 31% compared to the 2nd previous year. In first 9 months up to March 2010 also, the expenditure has shown sizeable increase.
Net profit for the FY 0708-0609 is Rs.997.31 compared to Rs.780.65 Cr in the preceding year (+28%) and compared to Rs.1101.82Cr (down by 9%) compared to the 2nd previous year.
Net Profit in the first half year upto Dec 2009 is healthy at Rs.556.17 Cr and at Rs.262.57 Cr in Q/E March 2010.
Thus, in the year 0709-0610, HCL may reflect profits in excess of Rs.1080 Cr – if first 9 months trend continues.
Basic EPS on stand alone Basis - has been Rs.8.28 for 1st half year and Rs.3.89 for 3rd Qtr, which indicates rising trend in current year.
For last year the Basic EPS was Rs14.91 compared to the preceding year’s EPS of Rs.11.75 and the 2nd preceding year’s EPS of Rs.16.88. Last year’s EPS was lesser than the EPS of the 2nd preceding year. Current year’s EPS may only match this EPS of 16+ by current trend. The face value is Rs.2/-
At the current Market price of Rs.353/- and the expected stand alone EPS of Rs.17 (for Yr0709-0610) gives a PE Ratio of 20.76.
The 4th Qtr and the full year results need to be watched for any improvement.
The current year of 0710-0611 is usually assumed to be a better year for all IT companies and HCL tech may also perform much better.
HY0709-1209 | Dif%1 | Dif%2 | |||||
Net Sales | 246104 | 128711 | 467509 | 461539 | 376862 | 1 | 24 |
Other Optg | - | - | - | 17040 | 43942 | ||
SIT&WIP | - | - | - | - | 0 | ||
Raw Materials | 25512 | 11590 | 46206 | 72179 | 55733 | -36 | -17 |
Traded goods | - | - | - | - | |||
Empl.s Cost | 97564 | 59213 | 193022 | 172639 | 144858 | 12 | 33 |
Depreciation | 13586 | 6473 | 25189 | 21787 | 17821 | 16 | 41 |
Other Expdr | 52212 | 23507 | 107472 | 122542 | 83326 | -12 | 29 |
Total Expdr | 188874 | 100783 | 371889 | 389147 | 283917 | -4 | 31 |
Profit(Oper.) | 57230 | 27928 | 95620 | ||||
Other Income | 9338 | 3406 | 26581 | 0 | |||
P b I & EI | 66568 | 31334 | 122201 | ||||
Interest | 5130 | 2461 | 2809 | 1907 | 1297 | 47 | 117 |
Pr. Aft. Int. bef.EI | 61438 | 28873 | 119392 | 1474 | |||
Exceptional items | - | - | - | - | 0 | ||
PBT | 61438 | 28873 | 119392 | 87525 | 117769 | 36 | 1 |
Tax Expense | 5821 | 2616 | 19661 | 9460 | 7587 | 108 | |
NPT after tax | 55617 | 26257 | 99731 | 78065 | 110182 | 28 | |
Extra. Items | - | - | - | - | 0 | ||
Net Profit | 55617 | 26257 | 99731 | 78065 | 110182 | 28 | -9 |
Dividend (%) | - | 50 | 50 | 150 | 400 | -67 | -88 |
Face Value (Rs) | 2 | 2 | 2 | 2 | 2 | 0 | 0 |
Paid-up Equity | 13470 | 13522 | 13405 | 13327 | 13274 | 1 | 1 |
Reserves | - | - | 335372 | 307985 | 329228 | 9 | 2 |
Basic EPS be.EI | 8.28 | 3.89 | 14.91 | 11.75 | 16.88 | 27 | -12 |
Diluted EPS be EI | 8.07 | 3.79 | 14.73 | 11.4 | 16.27 | 29 | -9 |
Public holding (%) | 31.68 | 31.95 | 31.85 | 32.46 | 32.45 | -2 | -2 |
ANNOUNCEMENTS
TO THE
EXCHANGE
28-06-2010 Hcl Technologies Limited has informed the Exchange regarding a press release dated June 28, 2010 , titled "Array Networks appoints HCL as the System Integrator across India and SAARC countries". Click Here
24-06-2010 Hcl Technologies Limited has informed the Exchange regarding a Press Release dated June 24, 2010 regarding "HCL Corporation today announced that it has sold 16.75 million of shares in HCL Technologies, constituting 2.5% stake in HCL Technologies. The sale proceeds will be donated to Shiv Nadar Foundation (www.ShivNadarFoundation.org) to be used for philanthropic initiatives. This contribution would make Shiv Nadar one of the largest philanthropists in the country".
14-06-2010 Hcl Technologies Limited has informed the Exchange regarding a press release dated June 14, 2010, titled "SGX signs IT infrastructure agreement with HCL Technologies".
10-06-2010 HCL Technologies Limited has informed the Exchange regarding a press release dated June 10, 2010, titled "HCL Technologies forms strategic partnership with Callatay and Wouters (C&W)".
09-06-2010 Hcl Technologies Limited has informed the Exchange regarding a press release dated June 9, 2010, titled "HCL Technologies annuounces Enhanced focus on IT Infrastructure Services in Brazil".
08-06-2010 Hcl Technologies Limited has informed the Exchange regarding a press release dated June 08, 2010, titled "HCL AXON's iMRO Becomes An SAP-Endorsed Business Solution".
20-05-2010 Hcl Technologies Limited has informed the Exchange regarding a press release dated May 20, 2010, titled "HCL AXON Announces iLINE, an Add-on for SAP® ERP, for Linear Asset Management".
20-05-2010 Hcl Technologies Limited has informed the Exchange regarding a press release dated May 20, 2010, titled "HCL AXON iCREW Solution Enhances Crew Scheduling Capabilities within the Transportation Industry".
17-05-2010 Hcl Technologies Limited has informed the Exchange regarding a press release dated May 17, 2010 , titled " HCL AXON Certified in SAP® Value Management".
14-05-2010 Hcl Technologies Limited has informed the Exchange regarding a press release dated May 14, 2010, titled "HCL AXON Launches, iControl, a Utility Web Enablement Solution for Customer Billing and AMI".
13-05-2010 Hcl Technologies Limited has informed the Exchange regarding a press release dated May 13, 2010, titled "HCL Technologies Ranked # 1 in traditional IT Outsourcing Space by Datamonitor's The Black Book of Outsourcing 2009-10".
06-05-2010 Hcl Technologies Limited has informed the Exchange regarding a press release dated May 06, 2010 titled "HCL Technologies and Rockwell Collins' Strategic Aerospace Engineering Agreement Reaches Ten Years Milestone; Companies Look to Further Expand Relationship".
05-05-2010 Hcl Technologies Limited has informed the Exchange regarding a press release dated May 05, 2010, titled "HCL Technologies and Stellar Asia Pacific form strategic partnership to further expand business in Australia and APAC".
04-05-2010 Hcl Technologies Limited has informed the Exchange regarding a press release dated May 04, 2010, titled "HCL Technologies Signs Five-Year, Strategic Engagement Agreement with MSD".
30-04-2010 Hcl Technologies Limited has informed the Exchange regarding a release dated April 30, 2010, titled "HCL AXON Transforms Customer Care Initiatives at Terasen Gas." A copy of the release shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).
30-04-2010 Hcl Technologies Limited has informed the Exchange regarding a release dated April 30, 2010, titled "Melbourne IT Awards business systems transformation project to HCL Technologies." A copy of the release shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).
23-04-2010 Hcl Technologies Limited has informed the Exchange regarding a press release dated April 23, 2010 , titled "HCL Celebrates Their Growth In The First Year Of Operations In Brazil During IT Forum". A copy of the press release shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).
21-04-2010 Hcl Technologies Ltd has informed the Exchange regarding a Investor release being issued by the Company, dated April 21, 2010 titled Third Quarter Results FY 2009-10. A copy of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).
21-04-2010 Hcl Technologies Limited has informed the Exchange that the Board of Directors of the Company at their meetings held on April 20-21, 2010 has declared an interim dividend of Re.1/- per equity share of Rs.2/- each of the Company.
21-04-2010 HCL Technologies Limited has informed the Exchange regarding the standalone Results for the quarter ended on 31-MAR-2010 as follows: Net Sales of Rs. 128711 lacs for quarter ending on 31-MAR-2010 against Rs. 121371 lacs for the quarter ending on 31-DEC-2009. Net Profit / (Loss) of Rs. 26257 lacs for the quarter ending on 31-MAR-2010 against Rs. 25544 lacs for the quarter ending on 31-DEC-2009. -
15-04-2010 Hcl Technologies Ltd has informed the Exchange regarding a release being issued by the Company, to analysts and investors, regarding conference call being held on April 21, 2010. Further the Company has submitted a copy of release dated April 13, 2010 titled "Announcement of Results for the Third Quarter ended March 31st, 2010". A copy of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).
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