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    HCLTECH   INE860A01027

HCL TECHNOLOGIES LIMITED

(HCLTECH)
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Delayed NSE India Stock Exchange  -  07:27 2022-08-16 am EDT
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HCL Technologies : Date of payment of dividend

01/14/2022 | 08:52am EDT

January 14, 2022

The General Manager

The Manager

BSE Limited

National Stock Exchange of India Limited

Corporate Relationship Department

Listing Department

Phiroze Jeejeebhoy Towers

Exchange Plaza

Dalal Street

5th Floor, Plot No. C-1,Block-G

Mumbai- 400 001

Bandra-Kurla Complex, Bandra(E)

Mumbai-400 051

BSE Scrip Code: 532281

NSE Scrip Code: HCLTECH

Sub.: Board meeting - Unaudited Financial Results for the quarter and nine months ended December 31, 2021

Dear Sir,

  1. The Board of Directors has today approved the Unaudited (Consolidated & Standalone) Financial results of the Company for the quarter and nine months ended December 31, 2021. The Financial Results under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 are enclosed at Annexure- A.
  2. The Limited Review Reports of the Statutory Auditors on the aforesaid Consolidated & Standalone Financial results of the Company are enclosed at Annexure- B.
  3. The Board of Directors has declared an Interim Dividend of Rs. 10/- per equity share of Rs.2/- each of the Company for the Financial Year 2021-22.
    The Record date of January 22, 2022 fixed for the payment of the aforesaid interim dividend has been confirmed by the Board of Directors. The Payment date of the said interim dividend shall be February 4, 2022.
  4. An Investor Release dated January 14, 2022 on the financial results is enclosed at Annexure- C.

Thanking you,

For HCL Technologies Limited

Manish Anand

Company Secretary

Encl: a/a

HCL TECHNOLOGIES LIMITED

Corporate Identity Number : L74140DL1991PLC046369

Registered Office : 806, Siddharth, 96 Nehru Place, New Delhi, 110 019

Corporate Office : Plot No. 3A, Sector 126, Noida 201 304, U.P., India

Website: www.hcltech.com; Telephone: +91 11 26436336

Consolidated Statement of Financial Results of HCL Technologies Limited as per Ind AS:

(` in crores)

Three months ended

Nine months ended

Previous year

ended

Particulars

31 December

30 September

31 December

31 December

31 December

31 March

2021

2021

2020

2021

2020

2021

(Unaudited)

(Unaudited)

(Unaudited)

(Unaudited)

(Unaudited)

(Audited)

I

Revenue

22,331

20,655

19,302

63,054

55,738

75,379

Revenue from operations

Other income

255

240

189

750

683

927

Total income

22,586

20,895

19,491

63,804

56,421

76,306

II

Expenses

428

273

556

1,025

1,364

1,698

Purchase of stock-in-trade

Changes in inventories of stock-in-trade

(18)

17

(47)

(26)

(62)

(3)

Employee benefits expense

11,802

11,017

9,447

33,527

27,982

38,853

Finance costs

82

83

147

254

352

511

Depreciation, amortization and impairment expense

1,136

1,078

1,187

3,342

3,344

4,611

Outsourcing costs

3,338

3,081

2,616

9,305

7,514

10,158

Other expenses

1,388

1,245

1,106

3,746

3,441

4,625

Total expenses

18,156

16,794

15,012

51,173

43,935

60,453

III

Profit before tax

4,430

4,101

4,479

12,631

12,486

15,853

IV

Tax expense

988

827

930

2,724

2,550

3,719

Current tax

Deferred tax charge/(credit)

(6)

11

(428)

(17)

(122)

965

Total tax expense

982

838

502

2,707

2,428

4,684

V

Profit for the period / year

3,448

3,263

3,977

9,924

10,058

11,169

VI

Other comprehensive income (loss)

-

(A)

(i) Items that will not be reclassified to statement of profit and loss

3

-

3

(6)

33

(ii) Income tax on items that will not be reclassified to statement of profit

-

1

5

1

6

(10)

and loss

(B)

(i) Items that will be reclassified subsequently to statement of profit and

115

(133)

427

441

870

913

loss

(ii) Income tax on items that will be reclassified to statement of profit and

57

(80)

(32)

(1)

(110)

(178)

loss

Total other comprehensive income (loss)

172

(209)

400

444

760

758

VII

Total comprehensive income for the period / year

3,620

3,054

4,377

10,368

10,818

11,927

Profit for the period / year attributable to

Shareholders of the Company

3,442

3,259

3,969

9,906

10,043

11,145

Non-controlling interest

6

4

8

18

15

24

3,448

3,263

3,977

9,924

10,058

11,169

Other comprehensive income (loss) for the period / year attributable to

Shareholders of the Company

172

(209)

401

441

763

763

Non-controlling interest

-

-

(1)

3

(3)

(5)

Total comprehensive income for the period / year attributable to

172

(209)

400

444

760

758

Shareholders of the Company

3,614

3,050

4,370

10,347

10,806

11,908

Non-controlling interest

6

4

7

21

12

19

3,620

3,054

4,377

10,368

10,818

11,927

Earnings per equity share of ₹ 2 each

Basic (in `)

12.69

12.01

14.63

36.51

37.01

41.07

Diluted (in `)

12.69

12.01

14.63

36.51

37.01

41.07

Dividend per equity share of ₹ 2 each

Interim dividend paid (in `)

10

6

4

22

6

10

Special interim dividend paid (in `)

-

-

-

10

-

-

Final dividend paid (in `)

-

-

2

-

2

2

Total dividend paid (in `)

10

6

6

32

8

12

HCL TECHNOLOGIES LIMITED

Corporate Identity Number : L74140DL1991PLC046369

Registered Office : 806, Siddharth, 96 Nehru Place, New Delhi, 110 019

Corporate Office : Plot No. 3A, Sector 126, Noida 201 304, U.P., India

Website: www.hcltech.com; Telephone: +91 11 26436336

Segment Information of Consolidated Financial Results as per Ind AS :

(` in crores)

Three months ended

Nine months ended

Previous year

ended

31 December

30 September

31 December

31 December

31 December

31 March

Particulars

2021

2021

2020

2021

2020

2021

(Unaudited)

(Unaudited)

(Unaudited)

(Unaudited)

(Unaudited)

(Audited)

(Refer note "a"

(Refer note "a"

(Refer note "a"

below )

below )

below )

Segment revenue

IT and Business services

15,775

15,005

13,596

45,150

39,279

53,401

Engineering and R&D services

3,547

3,242

2,931

9,865

8,634

11,546

Products & Platforms

3,014

2,413

2,775

8,054

7,825

10,442

Total

22,336

20,660

19,302

63,069

55,738

75,389

Less : Inter-segment revenue

IT and Business services

-

-

-

-

-

-

Engineering and R&D services

-

-

-

-

-

-

Products & Platforms

(5)

(5)

-

(15)

-

(10)

Total

(5)

(5)

-

(15)

-

(10)

Net revenue of operations from external customers

IT and Business services

15,775

15,005

13,596

45,150

39,279

53,401

Engineering and R&D services

3,547

3,242

2,931

9,865

8,634

11,546

Products & Platforms

3,009

2,408

2,775

8,039

7,825

10,432

Total

22,331

20,655

19,302

63,054

55,738

75,379

Segment results

IT and Business services

2,628

2,849

2,861

8,163

7,836

10,194

Engineering and R&D services

655

620

748

1,893

1,988

2,471

Products & Platforms

974

475

826

2,079

2,332

2,772

Total

4,257

3,944

4,435

12,135

12,156

15,437

Add (less) :

Finance cost

(82)

(83)

(147)

(254)

(352)

(511)

Exchange differences (net)

73

79

2

193

(1)

46

Other income

182

161

189

557

683

881

Profit before tax

4,430

4,101

4,479

12,631

12,486

15,853

Less : Tax expense

(982)

(838)

(502)

(2,707)

(2,428)

(4,684)

Profit for the period / year

3,448

3,263

3,977

9,924

10,058

11,169

Notes :

a. Segment reclass

Effective 1 April 2021, the Group has changed the segment classification for certain products business which were earlier reported as part of Engineering and R&D Services to Products & Platforms segment. Impact of this change is immaterial for operating results of both the segments. Prior period figures have also been restated to conform to current period composition of the operating segments.

b. Segmental capital employed

Assets and liabilities are not identified to any reportable segments, since these are used interchangeably across segments and consequently, the management believes that it is not practicable or meaningful to provide segment disclosures relating to total assets and liabilities.

HCL TECHNOLOGIES LIMITED

Corporate Identity Number : L74140DL1991PLC046369

Registered Office : 806, Siddharth, 96 Nehru Place, New Delhi, 110 019

Corporate Office : Plot No. 3A, Sector 126, Noida 201 304, U.P., India

Website: www.hcltech.com; Telephone: +91 11 26436336

Standalone Statement of Financial Results of HCL Technologies Limited as per Ind AS:

(` in crores)

Three months ended

Nine months ended

Previous year

ended

Particulars

31 December

30 September

31 December

31 December

31 December

31 March

2021

2021

2020

2021

2020

2021

(Unaudited)

(Unaudited)

(Unaudited)

(Unaudited)

(Unaudited)

(Audited)

I

Revenue

9,786

9,404

30,004

26,424

35,673

Revenue from operations

10,662

Other income

187

177

218

625

715

965

Total income

10,849

9,963

9,622

30,629

27,139

36,638

II

Expenses

34

60

122

125

142

Purchase of stock-in-trade

59

Changes in inventories of stock-in-trade

(7)

6

1

(14)

(10)

(3)

Employee benefits expense

4,200

3,751

2,886

11,391

8,371

11,749

Finance costs

28

25

64

83

157

177

Depreciation, amortization and impairment expense

728

644

719

2,032

2,029

2,813

Outsourcing costs

1,873

1,822

1,802

5,574

5,213

7,515

Other expenses

637

529

448

1,645

1,303

1,835

Total expenses

7,518

6,811

5,980

20,833

17,188

24,228

III

Profit before tax

3,331

3,152

3,642

9,796

9,951

12,410

IV

Tax expense

568

657

1,865

1,723

2,480

Current tax

659

Deferred tax charge/ (credit)

35

22

(412)

60

(59)

1,187

Total tax expense

694

590

245

1,925

1,664

3,667

V

Profit for the period / year

2,637

2,562

3,397

7,871

8,287

8,743

VI

Other comprehensive income (loss)

(A)

(i) Items that will not be reclassified to statement of profit and loss

-

2

-

2

(6)

43

(ii) Income tax on items that will not be reclassified to statement of

-

-

5

-

6

(11)

profit and loss

(B)

(i) Items that will be reclassified subsequently to statement of

150

210

71

316

523

652

profit and loss

(ii) Income tax on items that will be reclassified to statement of

56

(79)

(30)

(1)

(107)

(164)

profit and loss

Total other comprehensive income

206

133

46

317

416

520

VII

Total comprehensive income for the period / year

2,843

2,695

3,443

8,188

8,703

9,263

Earnings per equity share of ₹ 2 each

Basic (in `)

9.72

9.44

12.52

29.01

30.54

32.22

Diluted (in `)

9.72

9.44

12.52

29.01

30.54

32.22

Dividend per equity share of ₹ 2 each

-

-

Interim dividend paid (in `)

10

6

4

22

6

10

Special interim dividend paid (in `)

-

-

-

10

-

-

Final dividend paid (in `)

-

-

2

-

2

2

Total dividend paid (in `)

10

6

6

32

8

12

HCL TECHNOLOGIES LIMITED

Corporate Identity Number : L74140DL1991PLC046369

Registered Office : 806, Siddharth, 96 Nehru Place, New Delhi, 110 019

Corporate Office : Plot No. 3A, Sector 126, Noida 201 304, U.P., India

Website: www.hcltech.com; Telephone: +91 11 26436336

Notes :

  1. The consolidated and the standalone financial results for the three and nine months ended 31 December 2021 were reviewed by the Audit Committee and have been approved and taken on record by the Board of Directors at its meeting held on 14 January 2022. The statutory auditors have issued unmodified review report on these results.
  2. The Board of Directors have declared an interim dividend of ` 10 /- per share at its meeting held on 14 January 2022 .
  3. Financial results for all the periods presented have been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (as amended from time to time) prescribed under Section 133 of the Companies Act, 2013 and other recognised accounting practices and policies to the extent applicable.
  4. In November 2021, the Company instituted the Restricted Stock Unit Plan 2021 to provide equity-based incentives to all eligible employees of the Company and its subsidiaries. The Plan is administered by the Nomination and Remuneration Committee (NRC) of the Company through a controlled Trust. A maximum of 11,100,000 restricted stock units (RSU) may be granted under the Plan. Each RSU granted under the plan entitles the holder to one equity share of the Company at an exercise price, which is approved by the Nomination and Remuneration Committee.
    On 20 December 2021, NRC has granted 7,970,783 RSUs to the eligible employees of the Company and its subsidiaries under the Plan. Subsequent to this grant, on 24 December 2021, the Trust acquired 5,500,000 shares from secondary market for the purpose of implementation of the Plan.
  5. Employee benefit expenses for the year ended 31 March 2021 for the Company and the Group includes ` 243 crores and ` 728 crores respectively, being the one-time special bonus paid to employees in recognition of achieving the $10 Billion revenue mark in year ended 31 March 2021.
  6. Tax expense for the three and nine months period ended 31 December 2020 is lower primarily due to reversal of reserve for uncertain tax position set up in prior years and reduction in tax liability attributable to change in the method of calculating a tax deduction under stipulated provisions of tax laws, basis evaluation of recent judicial rulings.
  7. Deferred tax expense for the year ended 31 March 2021 includes ` 1,222 crores being the Deferred Tax Liabilities created by the Company on difference between book basis and tax basis of goodwill taken out of purview of tax depreciation w.e.f. 1 April 2020 by Finance Bill enacted in March 2021.
  8. As per Ind AS 108 'Operating Segments', the Company has disclosed the segment information only as part of the consolidated financial results.

By the order of the Board of Directors for HCL Technologies Limited

ROSHNI

Digitally signed by

VIJAYAKUMA

Digitally signed

PRATEEK

ROSHNI NADAR

R

by VIJAYAKUMAR

AGGARW

NADAR

CHINNASWAMY

MALHOTRA

CHINNASWA

Date: 2022.01.14

Date: 2022.01.14

AL

MALHOTRA 17:42:27 +05'30'

MY

07:27:14 -05'00'

Digitally signed by PRATEEK AGGARWAL Date: 2022.01.14 17:45:26 +05'30'

Roshni Nadar Malhotra

C. Vijayakumar

Prateek Aggarwal

Chairperson

Chief Executive Officer and

Chief Financial Officer

Managing Director

Noida (UP), India

14 January 2022

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

HCL Technologies Limited published this content on 14 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 January 2022 13:51:04 UTC.


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Financials
Sales 2023 983 B 12 366 M 12 366 M
Net income 2023 140 B 1 764 M 1 764 M
Net cash 2023 174 B 2 189 M 2 189 M
P/E ratio 2023 18,5x
Yield 2023 4,33%
Capitalization 2 594 B 32 705 M 32 630 M
EV / Sales 2023 2,46x
EV / Sales 2024 2,21x
Nbr of Employees 210 966
Free-Float 38,7%
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Mean consensus OUTPERFORM
Number of Analysts 43
Last Close Price 958,20 INR
Average target price 1 094,33 INR
Spread / Average Target 14,2%
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C. Vijayakumar President, Chief Executive Officer & MD
Prateek Solek Aggarwal Chief Financial Officer
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Hanumantha Rao Gade President-Engineering, R&D Services
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