HCL TECHNOLOGIES LIMITED
 |
| ANANT GUPTA, PRESIDENT & CEO |
RESULTS FOR THE
QUAERTER (Q2) ENDING DEC,2012
Ø Revenues at
US$ 1,154 mn; Up 13.0% YoY & 3.6% QoQ
Ø Net Income
at US$ 177 mn; Up 59.1% YoY & 9.7% QoQ
Ø Revenue at Rs.6,274 crores; Up 19.6% YoY & 3.0%
QoQ
Ø Net Income
at Rs.965 crores; Up 68.5%
YoY & 9.0% QoQ
· Anant Gupta
elevated to the position of President and CEO.
· Vineet Nayar
continues as Vice Chairman.
·
TCV of deals won aggregate US$ 1 Billion
Results
for Calendar Year(CY) ended 31st Dec,
2012
Ø
Revenue
at Rs.23,499 crores; Up 28.2% YoY
Ø
Net
Income at Rs.3,306 crores; Up 61.4% YoY
FINANCIAL HIGH LIGHTS
• Announces dividend of Rs. 2.0 per
share, 40th consecutive quarter of dividend payout thus completing 10 Years of
consistent Quarterly Dividend track record
• Total headcount at 85,194
High
Lights for the Q2 ending Dec,2012.
• Revenue at `Rs. 6,274 crores; up
19.6% YoY & 3.0% sequentially
• Volume growth of 3.0%
sequentially at company level
•
EBIT at Rs. 1,244 crores; up
49.8% YoY & 5.3% sequentially
•
Net Income at Rs.965 crores; up
68.5% YoY & 9.0% sequentially
•
GAAP EPS (Diluted) at Rs. 53.6;
up 69.4% YoY
HIGH
LIGHTS FOR CALENDAR YEAR ENDED DEC, 2012
·
Revenue at Rs. 23,499 crores; up 28.2% YoY
• EBIT at Rs. 4,393 crores; up 59.3% YoY
• Net Income at Rs. 3,306 crores; up 61.4% YoY
CORPORATE
OVERVIEW
The growth momentum of HCL
Technologies continues with an exceptional Calendar Year and Quarter
performance.
"Calendar 2012 has been an
exceptional year for HCL. While the entire Industry saw a very difficult year,
HCL fired on all cylinders. Our revenues grew 13%, profits grew 41% and
operating margin expanded by 360 bps.
“On the back of this exceptional
Calendar Year performance, our quarterly results demonstrate increasing
momentum. In the SECOND quarter we grew 3.6% QoQ, our highest over the last 5
quarters and 13% year on year. Our EBIT Margin improved 400 bps over the year
to reach 19.8%. Our net margin has improved for five straight quarters to reach
15.4%, and net income grew 59% YoY and 9.7% sequentially. All in all, this has
been a quarter of great impetus which has placed HCL in a position of advantage
for leveraging the changing market dynamics.”, said Vineet Nayar, Vice
Chairman, HCL Technologies.
“Our growth this quarter was driven
by Infrastructure and Financial Services, both growing in excess of 10%
sequentially. Six large transformational deals have once again given us a
billion dollar booking quarter. On the back of this industry-leading performance
HCL is now ready to redefine
the market with its Alternative Outsourcing (AO) model. The AO approach
consists of business-outcome aligned IT
services delivered through alternate delivery models like XaaS.”, said Anant
Gupta, President & CEO, HCL Technologies.
KEY
CATALYSTS FOR GROWTH
QoQ
Revenue Growth in Constant Currency
• Revenues grow by 3.1%
• Europe and Americas grow 4.2% and 3.4% respectively
• Growth witnessed across key Service Offerings led by Infrastructure
Services at 10.0%, Custom Application Services at 1.7% and BPO Services at 0.7%
• Broad based growth across Verticals led by Financial
Services at 10.1%, Energy-Utilities-Public Services at 4.7% and Media
Publishing & Entertainment at 4.2%
YoY
Revenue Growth (on CY basis)
• Europe and Americas grow 17.3% and 14.5% respectively
• Growth posted by Infrastructure Services at 22.2%,
Engineering and R&D Services at 12.3%, Enterprise Application Services 9.7%
and Custom Application Services at 8.9%
• Growth led by Healthcare at 53.9%, Retail & CPG at
18.1%, Media Publishing & Entertainment at 15.1% and Manufacturing at 10.9%
respectively
BLUE
CHIP CUSTOMER ACQUISITION :
HCL has won 12 multi-year, multi-million dollar deals with
Fortune500/Global 2000 corporations this quarter, six of which are large
integrated engagements. A majority of these engagements are from Americas and
Europe.
This quarter saw many significant engagements :
• entered into a multi-year, multi-regional end-to-end IT Infrastructure management outsourcing services agreement
with a leading Fortune 500 mobile and communication services provider.
• signed a large
IT infrastructure services engagement with a US based market
research and business information services company.
• signed a multi-year application services engagement with a Fortune
500 provider of diagnostic testing
services to provide application development, testing & support services.
• won a multi-year contract
from a Fortune 500 Consumer packaging company
for supporting its Oracle Deployment rollout
among various plant locations in US.
• selected by a US based financial
services company for a strategic
SAP deployment initiative that will improve efficiencies and enhance analytical capability, reduce system
life-cycle costs through
minimal customization among other efforts.
• entered into a strategic product engineering and R&D
engagement with one of the largest Automotive Infotainment supplier in Japan to support its Asia Pacific customer
base. HCL is building next generation navigation prototypes for leading automotive majors through this engagement and is
on course to build a multi-year ODC partnership to support
all
infotainment initiatives in the region.
• selected by a leading US based beverage company for a large transformation program
for their legacy
applications migration.
• chosen by a leading US based Healthcare
products and services provider to customize its Electronic Health Record product,
enhance flagship Practice
Management product and
provide maintenance support
to two of its legacy
products through end-of-life.
• chosen by a leading provider
of unit-linked life insurances in Europe for providing testing services for its entire applications suite
as
well as setting up of a dedicated Test Factory.
• chosen by a US based Fortune
500 provider of transportation, logistics
and supply chain management solutions for Application Management and Support Services.
• signed a deal with one of the largest US headquartered healthcare companies for Service cloud implementation. The deal involves extensive
data migration, system upgrades and multiple languages support.
|
Number of Million Dollar Clients
(LTM)
|
31-Dec-11
|
30-Sep-12
|
31-Dec-12
|
QoQ Change
|
YoY Change
|
|
100 Million dollar +
|
3
|
5
|
5
|
-
|
2
|
|
50 Million dollar +
|
9
|
10
|
10
|
-
|
1
|
|
40 Million dollar +
|
12
|
14
|
15
|
1
|
3
|
|
30 Million dollar +
|
23
|
29
|
29
|
-
|
6
|
|
20 Million dollar +
|
42
|
49
|
50
|
1
|
8
|
|
10 Million dollar +
|
84
|
98
|
98
|
-
|
14
|
|
5 Million dollar +
|
144
|
173
|
178
|
5
|
34
|
|
1 Million dollar +
|
362
|
401
|
418
|
17
|
56
|
CONSOLIDATED
INCOME STATEMENT (AMT IN Rs.Cr)
|
Income Statement
|
Quarter ended
|
Growth
|
|||
|
31-12-11
|
30-9-12
|
31-12-12
|
%YoY
|
%QoQ
|
|
|
Revenues
|
5,245
|
6,091
|
6,274
|
20%
|
3%
|
|
Direct Costs
|
3,514
|
3,946
|
4,026
|
||
|
Gross Profits
|
1,731
|
2,145
|
2,248
|
30%
|
5%
|
|
SG & A
|
761
|
794
|
831
|
||
|
EBITDA
|
970
|
1,351
|
1,417
|
46%
|
5%
|
|
Depreciation
|
128
|
157
|
160
|
||
|
Amortisation
|
12
|
12
|
12
|
||
|
EBIT
|
831
|
1,182
|
1,244
|
50%
|
5%
|
|
Foreign Exchange
Gains/(loss)
|
-76
|
-61
|
-13
|
||
|
Other Income, net
|
9
|
36
|
28
|
||
|
Provision for Tax
|
191
|
272
|
295
|
||
|
Share of income /
|
|||||
|
Net Income
|
573
|
885
|
965
|
69%
|
9%
|
|
Gross Margin
|
33%
|
35%
|
36%
|
||
|
EBITDA Margin
|
19%
|
22%
|
23%
|
||
|
EBIT Margin
|
16%
|
19%
|
20%
|
||
|
Net Income Margin
|
11%
|
15%
|
15%
|
||
|
EPS
|
|||||
|
Annualized in US $
|
|||||
|
Basic
|
33
|
51
|
56
|
68%
|
|
|
Diluted
|
33
|
50
|
55
|
67%
|
|
|
Earnings Per Share (EPS) - GAAP*
|
|||||
|
Annualized in US $
|
|||||
|
Basic
|
32
|
50
|
54
|
70%
|
|
|
Diluted
|
32
|
49
|
54
|
69%
|
|
*
* * E
N D *
* *
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