Stockholm – July 27th, 2011 – HCL Technologies Ltd. (HCL), a leading global IT services provider, today announced results for the year and quarter ended June 30 2011. For the full year, HCL’s global revenues increased by 31.1% YoY to US$ 3,545 mn. During the quarter, HCL posted strong growth with global revenues increasing by 30.5% YoY to US$ 963 mn.

 

HCL’s European business posted a revenue increase of 28.9% YoY in FY 2010-11 and 5.9%  QoQ in the fourth quarter of FY 2011. This geography contributed 27.1% to HCL Technologies’ revenues in the quarter. HCL’s continued commitment to the region has resulted into several significant multi-million dollar wins across Europe this quarter including Mecom, Deutsche Bank, Ikea and Danfoss amongst others.  

 

These wins come on the steam of HCL’s increased micro-vertical focus in the region and a strong positioning in the swiftly expanding Continental Europe market.

 

Commenting on the results, Rajeev Sawhney, President for HCL Europe, said ”HCL’s Go-To-Market (GTM) strategy in the region continues to be validated by demonstrating the increase in market recognition of the value HCL delivers to its current and new customers in Europe.  By encompassing specific integrated horizontal, sector and geographic focus and we have gained momentum in ensuring HCL’s success in a dynamic market especially in the Nordics and the rest of Continental Europe. We are now better geared to deliver a balanced growth, going forward. This winning strategy combined with our continued commitment in endorsing our ground-breaking philosophy and principles around Employees First, Customers Second, has put HCL on the map in Europe.”

 

Europe highlights for Q4 FY 2011:

 

The French translation of the Harvard Business Press bestseller ‘Employees First, Customers Second: Turning Conventional Management Upside Down’ titled ‘Les employés d’abord, Les clients ensuite: comment renverser les règles du management’ was launched in Paris and within a few weeks of its launch in France the book authored by Vineet Nayar, Vice Chairman & CEO, HCL Technologies became the No.1 Management bestseller on Amazon France website.

 

• HCL has signed a 5-year multimillion dollar Application Support Transformation deal with Deutsche Bank.

 

• HCL has entered into an agreement with Mecom Group plc for outsourcing a significant portion of Mecom’s IT operations. HCL will initially provide Mecom with infrastructure and, in certain cases, applications management services to Mecom.

 

• Danfoss, a global leader within energy efficient solutions for refrigeration, air conditioning, heating and electrical motor control, has selected HCL as Engineering and Development partner to setup an India Design Centre to cater for global projects and developing new products for the global markets. This is one of the largest deals for Indian Engineering Services Outsourcing industry in Europe. HCL has also signed a five-year strategic IT and SAP Offshore Delivery Center Agreement in Europe with

Danfoss.

 

• HCL has been selected to provide application management services to IKEA, the world’s leading home furnishing retailer.

 

• One of the largest banks in the UK has selected HCL as a strategic vendor. As part of this engagement, HCL will be providing IT outsourcing services for the bank’s core systems that support its various business units.

 

• HCL has been awarded the Payroll Giving Award (Bronze) towards fostering a culture of philanthropy at the workplace. This award recognizes employers who have succeeded in generating sustainable income sources for UK charities through payroll giving.

 

HCL Technologies – Financial Highlights

• Q4 Revenues at US$  963 mn; up 5.3% QoQ
• Annual Revenues at US$ 3,545 mn; up 31.1% YoY
• Net Income at US$ 378 mn; up 34.9% YoY
• Gross Employee addition of 9,572  during the quarter taking total headcount to 77,046

 

Europe – Financial Highlights

• Q4 Revenues at US$ 261 mn, up 5.9% QoQ
• Annual Revenues at US$ 952 mn, up 28.9% YoY

 

You can view the full details of the Financial Results On;
http://www.hcltech.com/investors/Downloads/FR/HCLT-Q4-2011-AMJ%2711-IR_Release.pdf

 

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