On consolidated basis
Quarter ended June 2024 compared
with Quarter ended March 2024.
Net sales (including other operating income) of HCL Technologies has declined
1.55% to Rs 28057 crore.
Operating profit margin has declined
from 21.46% to 20.65%, leading to 5.30% decline in operating profit to Rs
5,793.00 crore. Purchase of finished goods cost fell from 1.73% to
1.44%. Employee cost increased from 57.41% to 58.54%.
Other expenses fell from 19.38% to 19.35%. Contract job
process charges fell from 13.03% to 12.63%.
Other income rose 165.14% to Rs 1103
crore. PBIDT rose 5.56% to Rs 6896 crore. Provision for
interest rose 11.70% to Rs 191 crore.
PBDT rose 5.39% to Rs 6705
crore. Provision for depreciation fell 8.69% to Rs 998
crore.
Profit before tax grew 8.31% to Rs
5,707.00 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 1448 crore, compared to
Rs 1274 crore. Effective tax rate was 25.37% compared to 24.18%.
Minority interest decreased 77.78%
to Rs 2.00 crore. Net profit attributable to owners of the company
increased 6.80% to Rs 4,257.00 crore.
Promoters’ stake was 60.81% as of 30
June 2024 ,compared to 60.81% as of 31 March 2024 .
Quarter ended June 2024 compared
with Quarter ended June 2023.
Net sales (including other operating income) of HCL Technologies has increased
6.70% to Rs 28057 crore. Sales of Engineering and R&D Services
segment has gone up 9.51% to Rs 4,455.00 crore (accounting for 15.83% of total
sales). Sales of IT & Business Services segment has gone up
6.40% to Rs 20,905.00 crore (accounting for 74.27% of total
sales). Sales of HCL Software segment has gone up 4.34% to Rs
2,789.00 crore (accounting for 9.91% of total sales). Inter-segment
sales came down from Rs 93.00 crore to Rs 92.00 crore.
Profit before interest, tax and
other unallocable items (PBIT) has jumped 7.51% to Rs 4,795.00
crore. PBIT of Engineering and R&D Services segment rose 8.77%
to Rs 744.00 crore (accounting for 15.52% of total PBIT). PBIT of IT
& Business Services segment rose 9.96% to Rs 3,478.00 crore (accounting for
72.53% of total PBIT). PBIT of HCL Software segment fell 6.53% to Rs
573.00 crore (accounting for 11.95% of total PBIT).
PBIT margin of Engineering and
R&D Services segment fell from 16.81% to 16.70%. PBIT margin of
IT & Business Services segment rose from 16.10% to 16.64%. PBIT
margin of HCL Software segment fell from 22.93% to 20.54%. Overall
PBIT margin rose from 16.90% to 17.03%.
Operating profit margin has jumped
from 20.40% to 20.65%, leading to 7.98% rise in operating profit to Rs 5,793.00
crore. Purchase of finished goods cost fell from 1.78% to 1.44%.
Employee cost increased from 57.24% to 58.54%. Other
expenses fell from 20.52% to 19.35%. Contract job process charges
fell from 13.83% to 12.63%.
Other income rose 220.64% to Rs 1103
crore. PBIDT rose 20.79% to Rs 6896 crore. Provision for
interest rose 122.09% to Rs 191 crore.
PBDT rose 19.24% to Rs 6705
crore. Provision for depreciation rose 7.66% to Rs 998 crore.
Profit before tax grew 21.53% to Rs
5,707.00 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 1448 crore, compared to
Rs 1165 crore. Effective tax rate was 25.37% compared to 24.81%.
Net profit attributable to owners of
the company increased 20.46% to Rs 4,257.00 crore.
Promoters’ stake was 60.81% as of 30
June 2024 ,compared to 60.81% as of 30 June 2023 .
Full year results analysis.
Net sales (including other operating income) of HCL Technologies has increased
8.34% to Rs 109913 crore. Sales of Engineering and R&D Services
segment has gone up 5.15% to Rs 17,667.00 crore (accounting for 16.02% of total
sales). Sales of IT & Business Services segment has gone up
9.68% to Rs 81,179.00 crore (accounting for 73.60% of total
sales). Sales of HCL Software segment has gone up 7.66% to Rs
11,454.00 crore (accounting for 10.38% of total
sales). Inter-segment sales came down from Rs 470.00 crore to Rs
387.00 crore.
Profit before interest, tax and
other unallocable items (PBIT) has jumped 8.35% to Rs 20,027.00
crore. PBIT of Engineering and R&D Services segment rose 0.97%
to Rs 3,422.00 crore (accounting for 17.09% of total PBIT). PBIT of
IT & Business Services segment rose 12.08% to Rs 13,789.00 crore (accounting
for 68.85% of total PBIT).
PBIT margin of Engineering and
R&D Services segment fell from 20.17% to 19.37%. PBIT margin of
IT & Business Services segment rose from 16.62% to
16.99%. Overall PBIT margin fell from 18.22% to 18.16%.
Operating profit margin has declined
from 22.30% to 22.02%, leading to 6.94% rise in operating profit to Rs
24,198.00 crore. Purchase of finished goods cost fell from 2.04% to
1.60%. Employee cost increased from 54.45% to 56.87%. Other
expenses fell from 21.22% to 19.51%. Contract job process charges
fell from 14.73% to 13.27%.
Other income rose 10.09% to Rs 1495
crore. PBIDT rose 7.12% to Rs 25693 crore. Provision for
interest rose 56.66% to Rs 553 crore. Loan funds rose to Rs 5,756.00
crore as of 31 March 2024 from Rs 4,786.00 crore as of 31 March
2023. Inventories declined from Rs 228.00 crore as of 31 March 2023
to Rs 185.00 crore as of 31 March 2024. Sundry debtors were lower at
Rs 19,483.00 crore as of 31 March 2024 compared to Rs 19,572.00 crore as of 31
March 2023. Cash and bank balance rose to Rs 20,150.00 crore as of
31 March 2024 from Rs 14,724.00 crore as of 31 March
2023. Investments rose to Rs 7,137.00 crore as of 31 March 2024 from
Rs 5,495.00 crore as of 31 March 2023 .
PBDT rose 6.38% to Rs 25140
crore. Provision for depreciation rose 0.68% to Rs 4173
crore. Fixed assets declined from Rs 16,092.00 crore as of 31 March
2023 to Rs 7,909.00 crore as of 31 March 2024. Intangible assets
increased from Rs 18,567.00 crore to Rs 27,262.00 crore.
Profit before tax grew 7.59% to Rs
20,967.00 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 5257 crore, compared to
Rs 4643 crore. Effective tax rate was 25.07% compared to 23.82%.
Net profit attributable to owners of
the company increased 5.73% to Rs 15,702.00 crore.
Equity capital stood at Rs 543.00
crore as of 31 March 2024 to Rs 543.00 crore as of 31 March
2023. Per share face Value remained same at Rs 2.00.
Promoters’ stake was 60.81% as of 31
March 2024 ,compared to 60.81% as of 31 March 2023 .
Cash flow from operating activities
increased to Rs 22,448.00 crore for year ended March 2024 from Rs 18,009.00
crore for year ended March 2023. Cash flow used in acquiring fixed
assets during the year ended March 2024 stood at Rs 1,048.00 crore, compared to
Rs 1,661.00 crore during the year ended March 2023.
Others:
For FY2025, total revenue growth is expected to be in the range of 3-5%
YoY in CC.
The company continues to maintain its guidance for EBIT margin for FY25
that is between 18-19%.
Dividend: The
board has declared interim dividend of Rs 12 per equity share of Rs 5 each.
| HCL Technologies : Consolidated Results | | | Quarter ended | Year ended |
|---|
| Particulars | 202406 | 202306 | Var.(%) | 202403 | 202303 | Var.(%) |
|---|
| Net Sales (including other operating income) | 28,057.00 | 26,296.00 | 6.70 | 1,09,913.00 | 1,01,456.00 | 8.34 | | OPM (%) | 20.65 | 20.40 | 24 bps | 22.02 | 22.30 | -29 bps | | OP | 5,793.00 | 5,365.00 | 7.98 | 24,198.00 | 22,628.00 | 6.94 | | Other Inc. | 1,103.00 | 344.00 | 220.64 | 1,495.00 | 1,358.00 | 10.09 | | PBIDT | 6,896.00 | 5,709.00 | 20.79 | 25,693.00 | 23,986.00 | 7.12 | | Interest | 191.00 | 86.00 | 122.09 | 553.00 | 353.00 | 56.66 | | PBDT | 6,705.00 | 5,623.00 | 19.24 | 25,140.00 | 23,633.00 | 6.38 | | Depreciation | 998 | 927 | 7.66 | 4173 | 4145 | 0.68 | | PBT | 5,707.00 | 4,696.00 | 21.53 | 20967 | 19488 | 7.59 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 5707 | 4696 | 21.53 | 20967 | 19488 | 7.59 | | EO Income | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 5707 | 4696 | 21.53 | 20967 | 19488 | 7.59 | | Taxation | 1448 | 1165 | 24.29 | 5257 | 4643 | 13.22 | | PAT | 4259 | 3531 | 20.62 | 15710 | 14845 | 5.83 | | Minority Interest (MI) | 2 | -3 | PL | 8 | -6 | PL | | Net profit | 4257 | 3534 | 20.46 | 15702 | 14851 | 5.73 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 4257 | 3534 | 20.46 | 15702 | 14851 | 5.73 | | EPS (Rs)* | 15.69 | 13.02 | 20.46 | 57.86 | 54.73 | 5.73 | | | * EPS is on current equity of Rs 542.73 crore, Face value of Rs 2, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
|
| HCL Technologies : Consolidated Segment Results | | | Quarter ended | Year ended |
|---|
| % of (Total) | 202406 | 202306 | Var.(%) | % of (Total) | 202403 | 202303 | Var.(%) |
|---|
| Sales | | Software ServicesSoftware Services | 0.00 | 0.00 | 0.00 | - | | Business Processing Outsourcing | 0.00 | 0.00 | 0.00 | - | | Networking | 0.00 | 0.00 | 0.00 | - | | Infrastructure Services | 0.00 | 0.00 | 0.00 | - | | Engineering and R&D Services | 15.83 | 4,455.00 | 4,068.00 | 9.51 | 16.02 | 17,667.00 | 16,802.00 | 5.15 | | Products & Platforms | 0.00 | 0.00 | 0.00 | - | | IT & Business Services | 74.27 | 20,905.00 | 19,648.00 | 6.40 | 73.60 | 81,179.00 | 74,015.00 | 9.68 | | HCL Software | 9.91 | 2,789.00 | 2,673.00 | 4.34 | 10.38 | 11,454.00 | 10,639.00 | 7.66 | | Total Reported Sales | 100.00 | 28,149.00 | 26,389.00 | 6.67 | 100.00 | 1,10,300.00 | 1,01,456.00 | 8.72 | | Less: Inter segment revenues | | 92.00 | 93.00 | -1.08 | | 387.00 | 470.00 | -17.66 | | Net Sales | 100.00 | 28,057.00 | 26,296.00 | 6.70 | 100.00 | 1,09,913.00 | 1,00,986.00 | 8.84 | | PBIT | | Software ServicesSoftware Services | 0.00 | 0.00 | 0.00 | - | | Business Processing Outsourcing | 0.00 | 0.00 | 0.00 | - | | Networking | 0.00 | 0.00 | 0.00 | - | | Infrastructure Services | 0.00 | 0.00 | 0.00 | - | | Engineering and R&D Services | 15.52 | 744.00 | 684.00 | 8.77 | 17.09 | 3,422.00 | 3,389.00 | 0.97 | | Products & Platforms | 0.00 | 0.00 | 0.00 | - | | IT & Business Services | 72.53 | 3,478.00 | 3,163.00 | 9.96 | 68.85 | 13,789.00 | 12,303.00 | 12.08 | | HCL Software | 11.95 | 573.00 | 613.00 | -6.53 | | Total PBIT | 100.00 | 4,795.00 | 4,460.00 | 7.51 | 100.00 | 20,027.00 | 18,483.00 | 8.35 | | Less : Interest | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | Add: Other un-allcoable | | 912.00 | 236.00 | 286.44 | | 940.00 | 1,005.00 | -6.47 | | PBIT Margin(%) | | Software ServicesSoftware Services | | 0.00 | 0.00 | 0.00 | | Business Processing Outsourcing | | 0.00 | 0.00 | 0.00 | | Networking | | 0.00 | 0.00 | 0.00 | | Infrastructure Services | | 0.00 | 0.00 | 0.00 | | Engineering and R&D Services | | 16.70 | 16.81 | -11.38 | | 19.37 | 20.17 | -80.08 | | Products & Platforms | | 0.00 | 0.00 | 0.00 | | IT & Business Services | | 16.64 | 16.10 | 53.88 | | 16.99 | 16.62 | 36.36 | | HCL Software | | 20.54 | 22.93 | -238.80 | | 24.59 | 0.00 | 2,458.53 | | PBT | 100.00 | 5,707.00 | 4,696.00 | 21.53 | 100.00 | 20,967.00 | 19,488.00 | 7.59 |
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