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HCL grows 22% in financial year 2013

Anuradha Shukla | Aug. 1, 2013
Announces investor release for the fourth quarter and annual results for financial year 2013.

HCL Technologies recorded a growth of 22 percent during the financial year 2013.

In its investor release for the fourth quarter and annual results for financial year 2013, the company notes that it continues to excel in agility and innovation with a business model that is resilient in a dynamic environment.

The company's net income touched a five-year high of 16 percent and its return on equity for the year has been 34 percent which HCL claims is among the best in the industry. 

Earnings before interest, taxes, depreciation, and amortisation (EBITDA) to free cash flow (FCF) conversion has been at a healthy 68 percent in this financial year.

“HCL continues to lead the industry in profitable growth, with seven successive quarters of Net Income Margin expansion, having reported 62 percent growth in Net Income this year,” said Anant Gupta, president & CEO, HCL Technologies. “We have consolidated our leadership position in the Infrastructure Management Services and verticals like Financial Service and Lifesciences & Healthcare.” 

Progress in all areas

HCL Technologies has reinforced its commitment as an organisation in the financial year 2013 and has made significant progress in all areas of diversity and sustainability.

The company celebrated Asian Pacific American Heritage Month (APAHM), which encouraged many employees to share their experience of working with different cultures and traditions.

It won the Asia-Pacific Enterprise Leadership Award (APELA) 2013 for corporate social responsibility and was conferred the United Nations-Women Empowerment (UN-WEP) Leadership Award 2013.

HCL booked in excess of US$1 billion during the quarter including 12 multi-year deals from Fortune 500 that were primarily from manufacturing, financial services and lifesciences & healthcare verticals.

“Backed by another strong quarter, we closed our Financial Year on a positive note,” said Anil Chanana, CFO, HCL Technologies.

 

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