HCL TECHNOLOGIES - FIRST QUARTER RESULTS - SEPTEMBER 2014 - Revenue up 10%YoY;Net Income up 32% YoY

HCL TECHNOLOGIES

FIRST QUARTER RESULTS

SEPTEMBER 2014

SHIV NADAR, CHAIRMAN

HIGHLIGHTS

f i r s t QUAR T E R - F Y 2 01 5 R ESULT S

·       Revenue at Rs.8,735 crores; up 3.7% QoQ & 10% YoY

·       Net Income at Rs.1,873 crores; up 2.1% QoQ & 32% YoY

·    Revenue growth (excluding India) in Constant Currency at 3.7% & 14.3% YoY

·       Revenue growth in Constant Currency at 3.2% QoQ & 13% YoY

·       Announces dividend of Rs.6 per share

·       Total Headcount at 95,522. Gross & Net addition of 35,957 & 8,326 for LTM Sep'14 and 11,631 & 3,831 for Q1'15

·       EBIT Rs.2,088 Cr.  2.4% up QoQ; 10.2% up YoY

The company follows July-June as its financial year.

Read more at: http://www.moneycontrol.com/news/results/hcl-tech-q1-net2-to-rs-1873-cr-revenue-below-forecast_1205854.html?utm_source=ref_article

The company follows July-June as its financial year.

Read more at: http://www.moneycontrol.com/news/results/hcl-tech-q1-net2-to-rs-1873-cr-revenue-below-forecast_1205854.html?utm_source=ref_article

“We have posted another healthy quarter of broad-based growth led by a revenue increase of 3.2% QoQ in constant currency. Our customer acquisition momentum continues with yet another billion dollar quarter driven by strong growth in Global Infrastructure Services at 16.9% YoY & Engineering and R&D Services at 14.1% YoY. We have also added 15 Fortune 500/Global 2000 clients this quarter,” said ANANT GUPTA, CEO, HCL Technologies.

“Going forward our investments will continue in the three strategic markets of ITO, Engineering Services Outsourcing and the emerging Digitalization space which will enable a continued balanced business portfolio performance for the company”, he added.

"Our broad based growth has enabled us to deliver industry-leading Net Income performance of 36.1% YoY. We remain focused on working capital management and free cash flow generation with ~70% of EBITDA converted into free cash flows in the last 12 months”, said ANIL CHANANA, CFO, HCL Technologies.

HCL has signed 15 Transformational engagements with more than US$ 1bn of Total Contract Value in this quarter. We recorded broad-based bookings led by Global Infrastructure Services, Engineering and R&D Services, Application Services and the Digitalization suite across Software Product and Platform Engineering. Manufacturing and Consumer Services led the wins in verticals and US in geographies.

Income Stt  : QE SEP13 : QE JUN14  : QE SEP14 :YoY : QoQ

Revenues : 7,961 :  8,424   8,735 : 9.7% : 3.7%

Direct Costs : 4,858 : 5,215 : 5,522

Gross Profits : 3,103 : 3,208 : 3,213 : 3.5% : 0.1%

SG & A   : 1,010 : 992 : 1,021

EBITDA : 2,093 : 2,216 : 2,192 : 4.7% : -1.1%

Depreciation : 185 : 165 : 92

Amortisation : 13 : 12 : 12

EBIT : 1,895 : 2,038 : 2,088 :  10.2% :  2.4%

Forex Gains/(loss) : (236) : (53) : (53)

Other Income, net : 116 : 211 : 358

Provision for Tax : 359 : 362 : 519

Minority Interest : 0.20 : 0.05 : 0.05

Net Income : 1,416 : 1,834 : 1,873 : 32.3% : 2.1%

Gross Margin : 39.0% : 38.1% : 36.8%

EBITDA Margin : 26.3% : 26.3% : 25.1%

EBIT Margin : 23.8% : 24.2% : 23.9%

Net Income Margin : 17.8% : 21.8% : 21.4%

Earnings Per Share

Annualized in Rupees

Basic : 81 : 105 : 107 : 31.7%

Diluted : 80 : 104 : 106 : 32.5%

Note : The Company follows July-June Year

ABOUT HCL TECH

HCL Technologies is a leading global IT services company working with clients in the areas that impact and redefine the core of their businesses. Since its emergence on global landscape after its IPO in 1999, HCL has focused on 'transformational outsourcing', underlined by innovation and value creation, offering an integrated portfolio of services including software-led IT solutions, remote infrastructure management, engineering and R&D services and Business services. HCL leverages its extensive global offshore infrastructure and network of offices in 31 countries to provide holistic, multi-service delivery in key industry verticals including Financial Services, Manufacturing, Consumer Services, Public Services and Healthcare & Life sciences. HCL takes pride in its philosophy of 'Employees First, Customers Second' which empowers its 95,522 transformers to create real value for the customers. HCL Technologies, along with its subsidiaries, had consolidated revenues of US$ 5.5 billion, as on 30th September 2014 (on LTM basis). 

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HCL TECHNOLOGIES LTD - Q'RESULTS - Q E DEC 2013 - REVENUE UP 30.4%yYoY; Net Income up 58.4%YoY

HCL TECHNOLOGIES LTD

QUATERLY RESULTS FOR Q2 Y 2014

HCL TECH has delivered good set of results for the quarter ended December,2013. The results are in the following table :

Amount(In Cr)	31-12-12	30-09-13	31-12-13	YoY	QoQ
Revenues	6,278	7,961	8,184	30.40%	2.80%
Direct Costs	4031	4858	5040
Gross Profits	2248	3103	3145	39.90%	1.30%
SG & A	853	1010	1019
EBITDA	1395	2093	2126	52.40%	1.60%
Depreciation	160	185	166
Amortisation	12	13	19
EBIT	1222	1895	1941	58.70%	2.40%
ForeX(loss)	-13	-236	-158
Other Income, net	28	116	111
Tax Provision	293	359	398
Net Income	449	1,416	1,496	58.40%	5.70%

Gross Margin       :: 35.8% :: 39.0% :: 38.4%

EBITDA Margin    :: 22.2% :: 26.3% :: 26.0%

EBIT Margin        :: 19.5% :: 23.8% :: 23.7%

Net Income Margin ::15.0%:: 17.8% ::18.3%

Earnings Per Share (EPS)  ::  Annualized in INR

Basic          :: 54.40 :: 81.22 :: 85.67

Diluted                :: 53.55 :: 80.10 :: 84.70

Revenue for 2013 calendar Year crosses US$ 5 Bn.

Infrastructure services, Europe Geography and  Manufacturing vertical crosses US$ 1.5 Bn in CY 2013.

Return on Equity touches all time High of 35%.

Announces Dividend of Rs.4 per share, 44^th consecutive quarter of dividend Pay-out

Total head count at 88,332; Gross Addition of 7593; Net of 1136.

“As a company HCL has always differentiated itself on two key pillars – corporate excellence and governance, and trust through transparency and flexibility. Our sustained efforts in these areas continue to be recognized. ” said Shiv Nadar, Chairman & Chief Strategy Officer, HCL Technologies

“HCL continues its profitable growth trajectory with yet another stellar quarter of 4% QoQ revenues growth and 39.1% YoY net income growth. The company also crossed many milestones during the quarter, with our CY13 revenues crossing the $5bn landmark. In addition Infrastructure Services, Europe geography and Manufacturing vertical each crossed $1.5bn in revenues.” said Anant Gupta, President & CEO, HCL Technologies

“This quarter we also made significant progress in the execution of our Digital  system Integration Services strategy by signing new engagements and establishing dedicated Centers of Excellence to further strengthen our thought leadership and thrust on Gen 2 Outsourcing,” he added.

"We continue to deliver superior performance. The operating efficiencies, the scale of business in our Run-the-Business offering and the optimization of G&A spend helped in pushing the net income margin to another high of 18.3% this quarter. The asset light model reflected by our Fixed asset turnover at 10x of revenues, and efficient working capital management, continued to keep the return on equity at a historic high of 35% and operating cash flows in excess of 100% of net income", said Anil Chanana, CFO, HCL Technologies

Its momentum in the market continues with over $1bn TCV signed during the quarter. HCL signed 15 transformational deals across all service lines with Infrastructure Services constituting half of the same. Financial and Manufacturing verticals led the wins with 80% of the overall bookings originating from Fortune 500/Global 2000 customers.

About HCL TECHNOLOGIES :

HCL Technologies is a leading global IT services company working with clients in the areas that impact and redefine the core of their businesses. Since its emergence on global landscape after its IPO in 1999, HCL has focused on 'transformational outsourcing', underlined by innovation and value creation, offering an integrated portfolio of services including software-led IT solutions, remote infrastructure management, engineering and R&D services and Business services. HCL leverages its extensive global offshore infrastructure and network of offices in 31countries to provide holistic, multi-service delivery in key industry verticals including Financial Services, Manufacturing,

Consumer Services, Public Services and Healthcare & Life sciences. HCL takes pride in its philosophy of 'Employees First, Customers Second' which empowers its 88,332 transformers to create real value for the customers. HCL Technologies, along with its subsidiaries, had consolidated revenues of US$ 5.0 billion, as on 31st December 2013 (on LTM basis). 

Overall, HCL Tech has delivered and Excellent Set of Results for the Quarter ended December 2013. The future appears to be equally promising.

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