HCL Technologies

HCL Technologies Limited is one of the largest Indian IT services and consulting firms and a leading player in the industry globally. Initially founded as Hindustan Computers Limited the company has emerged as an Indian giant in the Information Technology sector. The company provides various services, including software development, business process outsourcing (BPO) and IT infrastructure management.

The company was founded in 1976 as one of the original tech startups by a group of 8 entrepreneurs. Within two years, its indigenously designed, 8-bit microcomputer hit the market, much ahead of the first IBM PC.

In 1993, HCL was at the forefront of remote infrastructure management, having won a landmark contract for the newly established National Stock Exchange's (NSE) digitalisation.

By 2016, HCL Tech expanded its offering in next-generation technologies by introducing new business solutions in AI automation, IoT, cyber security, cloud computing and digital platforms.

In 2021, the company became the fastest-growing technology services company, surpassing the $10 billion sales milestone.

HCL Technology Limited’s market capitalisation stood at over ₹4.2 lakh crore as of January 16, 2024. HCL share price has surged more than 57% in the last three years.

Business Operations

HCL Technologies Limited provides its products and services in three broad divisions- products and platforms (HCL Software), engineering and R&D services (ERS), and IT and Business Services (ITBS). The company caters to the traditional, transformative and future needs of its clients through these divisions.

HCLTech uses its experience to offer solutions that meet the current and future demands of its clients and their conventional needs. The company has expanded its footprints in 60 countries with 225,944 employees. The company operates more than 150 engineering labs and over 210 delivery centres across the globe.

Using HCLTech's Engineering and R&D Services (ERS), customers can increase return on innovation, accelerate product development, and shorten the time to profit. The CloudSMART services and products maximise cloud utilisation to boost innovation and agility on a large scale.

Businesses are beginning to reap more benefits from HCLTech's AI expertise, particularly in developing Generative AI skills in tandem with new market trends. Software for digital transformation, data analytics and insights, AI, automation and corporate security are all developed, marketed and supported by the HCLSoftware division.

Financial Operations

The company’s consolidated income increased to ₹1,02,814 crore in FY23 from ₹86,718 crore in FY22. Its Profit after Tax (PAT) increased to ₹14,845 crore in FY23 as against ₹13,523 crore in FY22, registering a growth of 9.77% year-on-year. Its earnings per share (EPS) for FY23 stood at ₹54.85 in FY23.