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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 and NEORIS Sign Agreement for Integrated IT Services

03/22/2022 | 11:43am EDT

Companies will offer unique capabilities to clients in global markets and countries, like Mexico

HCL Technologies (HCL), a leading global technology company, has signed a collaboration agreement with NEORIS, a leading global digital accelerator that co-creates disruptive solutions for digitally aspirational companies. The agreement will bring unique capabilities to clients in global markets, including the ability to increase application usage time, business management operations and integrated IT services.

As a result of this collaboration, both companies will be able to expand their operations and access new markets, making them better positioned to explore global markets. NEORIS, with more than 20 years of experience and global presence including operations in Latin America, will strengthen HCL’s presence in territories like Mexico and South America which offer great opportunities for commercial development. With operations in 52 countries, HCL Technologies will aid NEORIS in expanding its business internationally, primarily in the United States, Europe and Asia.

Together, NEORIS and HCL Technologies can speed up digital transformation, mitigate risks, empower teams based on product development, create a zero-incident culture and save costs. The solutions that NEORIS and HCL will offer together will focus on complementing approaches and solutions, new technologies and talent development among other areas of expertise.

"HCL Technologies and NEORIS will work together to find new business opportunities in a united effort, one where NEORIS will provide the best talent with the best skills in the market to reduce costs, time and risk," said Marcelo Costa, global head of strategic alliances at NEORIS. "We have positioned our centers of excellence to scale and meet the expectations of each business and deliver value. Our partnership enables us to provide the best services and solutions to our clients while positioning them for future success."

"We are delighted to offer this unique program to our clients in Latin America who are seeking ways to optimize their teams through best-in-class technology solutions," said Ajay Bahl, corporate vice president, HCL Technologies. "Our collaboration will also contribute to our continuous effort to build a great talent pool in Mexico to deliver industry-best service and capabilities to our customers."

About NEORIS

NEORIS is a leading global digital accelerator that co-creates disruptive solutions for companies that digitally aspire to increase their connections with customers, employees and stakeholders. The company is made of creative teams with technical experience and deep knowledge of their sectors. Headquartered in Miami, Florida, NEORIS has a network of global delivery centers, design studios, and operations in the United States, Europe, Latin America and India. More information is available at www.NEORIS.com, LinkedIn, and Twitter.

About HCL Technologies

HCL Technologies (HCL) empowers global enterprises with technology for the next decade, today. HCL’s Mode 1-2-3 strategy, based on its deep-domain industry expertise, customer-centricity and entrepreneurial culture of Ideapreneurship™, enables businesses to transform into next-gen enterprises.

HCL offers its services and products through three business units: IT and Business Services (ITBS), Engineering and R&D Services (ERS) and Products & Platforms (P&P). ITBS enables global enterprises to transform their businesses through offerings in the areas of applications, infrastructure, digital process operations and next generational digital transformation solutions. ERS offers engineering services and solutions in all aspects of product development and platform engineering. P&P provides modernized software products to global clients for their technology and industry specific requirements. Through its cutting-edge co-innovation labs, global delivery capabilities and broad global network, HCL delivers holistic services in various industry verticals, categorized as Financial Services, Manufacturing, Technology & Services, Telecom & Media, Retail & CPG, Life Sciences & Healthcare and Public Services.

As a leading global technology company, HCL takes pride in its diversity, social responsibility, sustainability and education initiatives. For the 12 months ended Dec. 31, 2021, HCL had consolidated revenue of US$11.18 billion. Its nearly 198,000 ideapreneurs operate out of 52 countries.

For more information, visit www.hcltech.com

Forward–looking Statement

Certain statements in this release are forward-looking statements, which involve a number of risks, uncertainties, assumptions and other factors that could cause actual results to differ materially from those in such forward-looking statements. All statements, other than statements of historical fact are statements that could be deemed forward looking statements, including but not limited to the statements containing the words 'planned', 'expects', 'believes', 'strategy', 'opportunity', 'anticipates', 'hopes' or other similar words. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding impact of pending regulatory proceedings, fluctuations in earnings, our ability to manage growth, intense competition in IT services, Business Process Outsourcing and consulting services including those factors which may affect our cost advantage, wage increases in India, customer acceptances of our services, products and fee structures, our ability to attract and retain highly skilled professionals, our ability to integrate acquired assets in a cost effective and timely manner, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, the success of our brand development efforts, liability for damages on our service contracts, the success of the companies / entities in which we have made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property, other risks, uncertainties and general economic conditions affecting our industry. There can be no assurance that the forward-looking statements made herein will prove to be accurate, and issuance of such forward looking statements should not be regarded as a representation by the Company or any other person that the objective and plans of the Company will be achieved. All forward-looking statements made herein are based on information presently available to the management of the Company and the Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.


© Business Wire 2022
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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 32 630 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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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
Roshni Nadar Malhotra Chairman
Hanumantha Rao Gade President-Engineering, R&D Services
Kalyan Kumar B. Chief Technology Officer & Corporate VP
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