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Follow UsPresident and CEO Anant Gupta www.hcltech.com
Remarkable Performance: One of the key milestones in fiscal 2013 (July to June) is crossing the `25,000 crore mark with earnings before tax in excess of `5,000 crore and net income of `4,000 crore. The company's performance is laudable with seven successive quarters of net income margin expansion marking a 62% growth in net margin. During the year, managed services and fixed price contracts outstripped time and material contracts at 52 and 48% respectively. HCL Technologies boasts of a well diversified client portfolio with Top 20 clients accounting for nearly 33% of revenue. This suggests a highly de-risked model in terms of client concentration.
Growth Spots: The high growth spots during the year included 13% growth in Americas and 20% growth in Europe. In terms of services, infrastructure services, accounting for 29% of the revenues, continued to be the stronghold with 36% growth. Compared to the previous year, growth rate here increased from 25%. The company believes that there is a huge potential left in the infrastructure services market so much so that it is of the opinion that all the Indian outsourcing providers put together caters to only 5% of the market. All other practices showed mid single digits growth.
Amongst verticals, the highest growth area was life sciences and healthcare at 45%. Financial services, retail and CPG, media and entertainment, and public services showed strong double-digit growth rates.
Services Innovation: HCL's application rationalization and modernization services have evolved over the past few years. The company developed its own IP such as application portfolio management tool ‘Prizm' and integrated various application modernization services under ‘ Business Operations Platform Transformation' service.
New Leader: The year saw a change of guard from Vineet Nayar to Anant Gupta. Anant Gupta, who has been with HCL Group since 1993, took over as the President and CEO of HCL Technologies.
Key Wins: HCL Tech's key wins during the year include a landmark five year, multi-million dollar infrastructure transformation deal with Freescale Semiconductor; a long-term, global IT infrastructure management outsourcing services agreement with Nokia, and a global engineering partnership with The Manitowoc Company, a leading multi-industry, capital goods manufacturer. HCL Technologies also partnered with Siemens PLM Software for the Indian market aimed at accelerating adoption of PLM software.