Noida, India, May 02nd, 2018


Annual Revenues cross 50,000 crores

Quarterly Revenues exceed US$ 2 bn


Revenue at 50,570 crores; up 8.2% YoY Net Income at 8,780 crores; up 3.8% YoY

Revenue at US$ 7,838 mn; up 12.4% YoY

Revenue growth in Constant Currency at 10.5% YoY Net Income at US$ 1,360 mn; up 7.7% YoY


Revenue at 13,179 crores; up 2.9% QoQ Net Income at 2,227 crores; up 1.5% QoQ

Revenue in Constant Currency; up 1.2% QoQ Revenue at US$ 2,038 mn; up 2.5% QoQ Net Income at US$ 344 mn; up 1.1% QoQ


(Amount in ` Crores)

FY’18  YoY  31-Mar-2018  QoQ 
REVENUE 50,570 8.2% 13,179 2.9%
EARNINGS BEFORE INTEREST & TAX (EBIT) 9,987 5.4% 2,583 2.9%
NET INCOME 8,780 3.8% 2,227 1.5%

(Amount in US $ Million)

FY’18  YoY  31-Mar-2018  QoQ 
REVENUE 7,838 12.4% 2,038 2.5%
EARNINGS BEFORE INTEREST & TAX (EBIT) 1,548 9.4% 399  2.6%
NET INCOME 1,360 7.7% 344  1.1%

Financial Highlights: FY’18

Revenue Milestones in FY’18 and Q4:

−  Annual Revenues cross ` 50,000 crores mark.

−  Quarterly Revenues exceed US$ 2 billion milestone.

Revenues from Mode 2 and Mode 3 offerings together grew 41.5% in 12 months period ending Mar’18. The share of Mode 2 and Mode 3 revenues together stands at 23.4% for FY’18, compared to 18.6% for FY’17.

−  Led by Digital and Analytics, Mode 2 grew by 29.4% YoY across lines of business and geographies.

−  In FY’18 Mode 3 contributed 8.7% to the revenue and grew at a healthy rate 68.3% YoY. Investments proposed in Product Management, R&D and GTM.

REVENUE MIX (YEAR ENDED)  Mar'17  Mar'18  YoY Growth 
Mode 1 81.4% 76.6% 5.7%
Mode 2 12.8% 14.7% 29.4%
Mode 3 5.8% 8.7% 68.3%

Broad based growth across Verticals driven by Manufacturing at 18.3%, Financial Services at 13.3%, Lifesciences & Healthcare at 8.1% , Retail & CPG at 7.5% and Public Services at 2.6% (on Constant Currency basis).

Strong client addition continues (on YoY basis): $5+ Mn clients up by 18, $10+ Mn clients up by 7, $20+ Mn clients up by 2, $40+ Mn clients up by 6, and $50+ Mn clients up by 3.

Net Income to Operating Cash Flow conversion at 98.9% on LTM basis. Announces dividend of ` 2 per share, 61st consecutive quarter of dividend payout. Return on Equity at 25.2%.

FY’19 Guidance

  • Revenue: FY'19 Revenues are expected to grow between 9.5% to 11.5% in Constant Currency 

*   Revenue Guidance is based on FY’18 (April to March) average exchange rates.

The above constant currency guidance translates to 10.5% to 12.5% in USD terms based on March 31, 2018 rates.

  • Operating Margin (EBIT): FY’19 expected Operating Margin (EBIT) range is from 19.5% to 20.5%. 

*  The Operating Margin guidance assumes USD-INR currency rate of $1 = 66.0 and other currencies at FY’18 average exchange rates.

“The world is changing fast with rapid evolution and shifts in geo-political, social and business landscapes, making it imperative for responsible leaders like HCL to be at the forefront of innovation, technology, solutions and people readiness. We continue to make strategic investments for readiness, in face of these imminent shifts. With the commitment to give back to the society, we continue to build sustainable and scalable models of positive social impact”, said Shiv Nadar, Chairman & Chief Strategy Officer, HCL Technologies Ltd.

“We conclude the fourth quarter and the financial year 2018 with an industry-leading performance backed by broad- based growth across verticals, robust client additions and accelerated revenues from Mode 2 and 3 Services. Our quarterly revenues have exceeded the $2 billion mark while our YoY revenues grew by 10.5% YoY. We remain confident of the new Fiscal in light of the increasing relevance of our business offerings coupled with our strategic investments in technologies of the future”, said C.Vijayakumar, President & CEO, HCL Technologies Ltd.


  • Revenue grew by 10.5%. 
  • Broad based growth across all revenue segments: 

−      Americas, RoW and Europe grew by 13.8%6.0% and 5.0% respectively.

−      Driven by Engineering and R&D Services at 37.6%, Infrastructure Services at 4.5% and Application Services at 4.4%.

−      Vertical growth led by Manufacturing at 18.3%, Financial Services at 13.3%, Lifesciences & Healthcare at 8.1%, Retail & CPG at 7.5% and Public Services at 2.6%.


HCL signed 15 transformational deals this quarter, spread across Mode 1, Mode 2 and Mode 3 services, led by verticals of Financial Services, Manufacturing, Public services, Lifesciences and Healthcare. These have a healthy mix of next–generation offerings including Cloud Native Services, Digital & Analytics, Internet of Things, Autonomics & AI, Cybersecurity & GRC, Products and Platforms. A total of 63 transformational deals have been signed during the year.

For the complete Investor Release, please visit: https://www.hcltech.com/investors

HCL Technologies is a $7.8 billion next-generation global technology company that helps enterprises reimagine their businesses for the digital age. Our technology products, services and engineering are built on four decades of innovation, with a world-renowned management philosophy, a strong culture of invention and risk-taking, and a relentless focus on customer relationships. With a worldwide network of R&D, innovation labs and delivery centres, and 120,081 ‘Ideapreneurs’ working in 32 countries, HCL serves leading enterprises across key industries, including 250 of the Fortune 500 and 650 of the Global 2000. We offer an integrated portfolio of products, solutions, services, and IP through our Mode 1-2-3 strategy built around Digital, IoT, Cloud, Automation, Cybersecurity, Analytics, Infrastructure Management and Engineering Services, amongst others, to help enterprises reimagine their businesses for the digital age. For more information, please visit www.hcltech.com


Certain statements in this release are forward-looking statements, which involve a number of risks, uncertainties, assumptions and other factors that could cause actual results to differ materially from those in such forward-looking statements. All statements, other than statements of historical fact are statements that could be deemed forward looking statements, including but not limited to the statements containing the words 'planned', 'expects', 'believes', 'strategy', 'opportunity', 'anticipates', 'hopes' or other similar words. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding impact of pending regulatory proceedings, fluctuations in earnings, our ability to manage growth, intense competition in IT services, Business Process Outsourcing and consulting services including those factors which may affect our cost advantage, wage increases in India, customer acceptances of our services, products and fee structures, our ability to attract and retain highly skilled professionals, our ability to integrate acquired assets in a cost effective and timely manner, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, the success of our brand development efforts, liability for damages on our service contracts, the success of the companies / entities in which we have made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property, other risks, uncertainties and general economic conditions affecting our industry. There can be no assurance that the forward looking statements made herein will prove to be accurate, and issuance of such forward looking statements should not be regarded as a representation by the Company, or any other person, that the objective and plans of the Company will be achieved. All forward looking statements made herein are based on information presently available to the management of the Company and the Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.

For details, contact:

Sanjay Mendirattasanjay.mendiratta@hcl.com +91-120-6126335 Ajay DavessarGlobal Head ajay.davessar@hcl.com +91-120-6126000
Devneeta Pahuja India devneeta.p@hcl.com +91-120-6126000

HCL Technologies Ltd., Technology 


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