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,
- 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.
- The Limited Review Reports of the Statutory Auditors on the aforesaid Consolidated & Standalone Financial results of the Company are enclosed at Annexure- B.
-
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. - 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 :
- 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.
- The Board of Directors have declared an interim dividend of ` 10 /- per share at its meeting held on 14 January 2022 .
- 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.
-
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. - 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.
- 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.
- 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.
- 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 |
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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.