HCL TECHNOLOGIES = Q2 ENDING DECE,BER 2010 = RESULTS = REVENUES UP 28% = EXCELLENT PERFORMANCE =

HCL Technologies Limited

NSE Symbol   HCLTECH

CONSOLIDATED RESULTS

HIGH LIGHTS

Ø  

QQ2 Revenues at Rs. 3,888 crores; up 4.9% QoQ & 27.8% YoY

Ø Net Income at Rs. 400 crores; up 20.7% QoQ & 34.2% YoY

Ø EBIT at Rs. 511 crores; up 1.4% YoY & 6.8% sequentially

Ø Volume-led robust growth across all Geographies, Verticals and Service Offerings

Ø Achieves revenues in excess of US$ 3 Bn for the Calendar Year 2010

Ø 46 New Customers added in Calendar Year 2010, of which 12 customers are in G-500

Ø Gross & Net Employee addition of 8,379 & 2,049 respectively taking total headcount to 72,267

Ø Hiring in excess of 38,000 in Calendar Year 2010

Ø Declares Dividend of Rs. 2 per share. 33% increase in dividend per share. 32nd consecutive quarter of dividend payout.

Ø EPS – In Rupees :

 

Ø Basic EPS :– Rs.17.7 FOR Q/E Dec,09; Rs.19.5  for Q/e Sep,2010 and  Rs.23.6 for Q/e  Dec 2010

Ø Diluted EPS :– Rs.17.3 for q/e Dec 2009;  Rs.19.1 for Q/e Sep 2010;  Rs.23.1 for Q/e Dec 2010.

Ø Thus, the improvement at consolidated level is very significant.

Ø As can be seen from the results – HCL Tech has performed excellently in this quarter.

Commenting on the results, Vineet Nayar, Vice Chairman & CEO, HCL Technologies said, “The dynamic demand environment necessitates a sharp focus on innovation and tangible value generation for customers. This is evident from our continued robust performance in CY10 with HCL exceeding USD 3 bn in revenue, posting 26% YoY growth and a four quarter CQGR of 7.3%. We also continued to register impressive win ratios and superior customer acquisitions with 50+ transformational deals signed during the year.”

“HCL continues to focus on all-round growth across businesses and at the same time strengthening its financial position. The ratio of Net Income converted into cash flow from operations stands at 90% (For the whole year 2010 it has been 92%). The net income margin at 10.3% has increased this quarter by 135 bps sequentially”, added Anil Chanana, CFO, HCL Technologies.

HCL also says - HCL won 17 transformational deals during the last quarter. Most of these deals have been won from our existing customers across all services lines and verticals. New wins include leading names viz.Bank of Ireland, bioMérieux SA, a leading women’s fashion apparel retailer headquartered in the USA and a leading commercial airline in North America.

Stand Alone results

HCL TECHNOLOGIES  has produced very good  Stand Alone  results also for the Q2 ending Dec,2010.

Net Sales is Rs.1649 cr – up by 10.06% from Q1; and up by 35.87% from Q2 of  Last year

Profit from operation is Rs. 296 Cr – up by 44.26 from Q1 and up by 13.75% from Q2 of last year.

Net Profit is Rs.286 Cr – up by 46.74% from previous qtr and  up by 11.95% from corresponding Qtr of last year.

Basic EPS has grown significantly to Rs.4.19 from Rs.2.87 in previous qtr and  Rs.3.8 in corresponding qtr of last year.

STANDALONE RESULTS IN NUMBERS :

HCL TECH	31-Dec-10	30-Sep-10	30-Jun-10	31-Mar-10	31-Dec-09
Net Sales	164906	149832	133061	128711	121371
Dif %1	1649	10.06	23.93	28.12	35.87
Raw Materials	17	438	1620	11590	11556
Employees Cost	83023	76682	61988	59213	47892
Depreciation	7215	7343	7343	6473	6740
Other Expenditure	45094	44880	38156	23507	29198
Total Expenditure	135349	129343	109107	100783	95386
Profit from Operations	29557	20489	23954	27928	25985
Dif %2	296	44.26	23.39	5.83	13.75
Other Income	3853	4202	3561	3406	4551
Profit before Interest & Exceptional Items	33410	24691	27515	31334	30536
Interest6	2541	2629	2545	2461	3607
Tax expense	2272	2574	1188	2616	1385
Net Profit	28597	19488	23782	26257	25544
Dif %3	286	46.74	20.25	8.91	11.95
Dividend (%)	-	75	50	50	50
Face Value (In Rs	2	2	2	2	2
Paid Up Equity	13681	13600	13576	13522	13470
Basic EPS	4.19	2.87	3.51	3.89	3.8
Diluted EPS	4.1	2.81	3.43	3.79	3.7
Public Shareholding (%)	35.19	34.8	34.68	31.95	31.68

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Consolidated Income Statement

22