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Corporation
COMPUTER HARDWARE & SERVICES | IT Services / IT Solutions & Software Development
hcltech.com

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Investments

4

Portfolio Exits

2

Partners & Customers

10

About HCLTech

HCLTech (NSE: HCLTECH) is a global IT services company that offers an integrated portfolio of services including software-led IT solutions, remote infrastructure management, engineering and R&D services, and business process outsourcing. The company operates across a number of sectors including aerospace & defense, automotive, consumer electronics, energy & utilities, financial services, government, industrial manufacturing, life sciences & healthcare, media & entertainment, mining & natural resources, public services, retail & consumer, semiconductor, server & storage, telecom, and travel, transportation, logistics, & hospitality. It was formerly known as HCL Technologies. The firm was founded in 1981 and is based in Noida, India.

HCLTech Headquarters Location

Technology Hub, SEZ Plot No. 3A, Sector 126

Noida, 201304,

India

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HCLTech Web Traffic

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Page Views per Million (PVPM)
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HCLTech Rank

Latest HCLTech News

Demand wave keeps auto, finance sectors upbeat, slowdown batters tech, metal stocks

Oct 1, 2022

Pent-up demand continues to propel auto stocks, while rising interest rates auger well for financials. However, the anticipated global slowdown is spoiling the party for IT and metal companies Trade × Shares of financial and automobile companies continue to hog the limelight in the Indian equity market as the rising interest rate regime auger well for the financial sector and the auto sector ride on pent-up demand and easing of supply chain pressure. Indian auto companies have launched a slew of models both in the ICE (internal combustion engines) as well as EV (electric vehicle) segment which have been accepted well and there are strong bookings. It is not surprising then that the companies from these two sectors have witnessed the highest number of upgrades from the sell-side analysts over the past one year. This is as per the data sourced from Bloomberg. Bloomberg tracks recommendations of sell-side analysts regularly. But sharing of reports and recommendation is voluntary; to that extent it is not fully representative of the market. Maximum Upgrades in the past year Like in August, Eicher Motors , the maker of iconic Royal Enfield motorcycles, continues to attract both customers as well as analysts to its counters. Its recent launches have been successful and well accepted, while its older models continue to see strong demand. The companies joint venture with Volvo, the Volvo Eicher Commercial Vehicles has been performing well as the demand for commercial vehicles and buses in the country is now on an uptrend. Consequently, as many as 35 analysts and brokerages have a ‘buy’ rating for the stock as at the end of September 2022 compared to just 18 ‘buys’ a year ago. One of India’s largest private life insurers, HDFC Life Insurance Company , occupied the second spot amongst the stocks that received the maximum upgrades in the past one year. Its annual premium equivalent (APE) and value of new business (VNB) are showing a healthy growth while the execution of Exide Life Insurance will provide additional tailwinds. As a result, 32 analysts have a ‘buy’ on this company compared to 27 a year ago. FMCG and cigarette giant  ITC is riding a strong wave across its business segments. “The key growth drivers for the company are its focus on de-risking business model by reducing dependence on the core cigarette business (affected by regulatory and tax hurdles) and scaling up FMCG business; ITC Infotech business exhibiting notable potential; PLI linked incentives to help grow Agri business & drive exports and its high dividend yield and reasonable valuations compared to peers,” Axis Securities said in a note. The Kolkata-based company occupied the third spot as it now has 35 ‘buys’ compared to 28 a year ago. Riding the auto theme, the other two big companies from the space – Tata Motors and Maruti Suzuki  - also received the most number of ‘buy’ calls. Reliance Industries , which is also the biggest Indian company by market capitalization along with the jewellery maker, Titan Company Limited occupied the fifth and sixth spots. Maximum upgrades in the past one quarter Reliance Industries received the most upgrades in the last one quarter driven by its renewable energy, 5G and retail push. “The growth momentum and improved margin profile across the sector will drive RIL’s revenue growth of 25 percent and EBITDA growth of 32 percent in FY23”, said the analysts at Motilal Oswal Financial Service. These, however, do not factor in any incremental growth from 5G capex, new energy and other segments. According to a note from Motilal Oswal, “Over the next two-to-three years, RIL is likely to create the next engine of growth but it could put pressure on its near-term return ratios”. Reliance received 7.2 percent upgrades during the quarter and was followed by ITC Ltd and HDFC Life Insurance for which the upgrades in percentage terms stood at 5.6 and 5.2 percent respectively. The other two companies that received the most rating upgrades during the quarter were Eicher Motors and Titan Company Ltd. “Titan is well placed to capitalize on long term growth opportunities led by jewellery share gains due to network expansion, regional thrust and hallmarking benefits; Omni-channel strategy across jewellery, watches and eyewear; new growth drivers like Caratlane, Titan Eye+, Taneira and entry into high growth segments like wearables such as smart watches, over the head headphones and Truly Wireless earphones,” research firm Prabhudas Liladhar said in a report. Maximum Upgrades in the past month HDFC Life Insurance garnered maximum rating upgrades in the past one month amounting to 5.9 percent growth over the previous month. It was followed by Reliance Industries and Eicher Motors which managed an increase of 2.1 percent each over the month of August 2022. Bajaj Finance , Tata Consumer Products followed Eicher Motors with close 1 percent jump in ‘buy’ ratings. According to analysts at Incred Equities, “Bajaj Finance’s digital transformation is visible in the form of superior client addition and improved turnaround time with almost zero manual intervention and, this will result in a gradual improvement in operating leverage and lower credit cost (below ~2%), resulting in superior return ratios”. Maximum downgrades in the year The commodity prices saw their dream run end as the world economy braces for a slowdown. The experts are apprehensive of the demand revival especially in the steel sector and the revival of production in China will be an added negative for Indian steel producers. Consequently, JSW Steel tops the list of maximum downgrades during the past one year. It saw a 35 percent increase in its ‘downgrades', while India’s largest steel producer, Tata Steel , saw a reduction of 14.7 percent in its ‘buy’ calls. At the same time, the uncertainty surrounding the growth of global economy, has also dimmed the prospects of Indian IT companies. The tech giants of India, namely, HCL Technologies , Tech Mahindra and Tata Consultancy Services saw their downgrades increase by 29.8, 18.4 and 16 percent respectively.

HCLTech Investments

4 Investments

HCLTech has made 4 investments. Their latest investment was in Kalido as part of their Corporate Minority on August 8, 2019.

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HCLTech Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

8/8/2019

Corporate Minority

Kalido

$2M

Yes

3

3/13/2018

Series D

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$99M

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10

6/3/2016

Series C

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$99M

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10

6/13/2000

Series C

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$99M

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0

Date

8/8/2019

3/13/2018

6/3/2016

6/13/2000

Round

Corporate Minority

Series D

Series C

Series C

Company

Kalido

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Amount

$2M

$99M

$99M

$99M

New?

Yes

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Co-Investors

Sources

3

10

10

0

HCLTech Portfolio Exits

2 Portfolio Exits

HCLTech has 2 portfolio exits. Their latest portfolio exit was Liberata Financial on August 02, 2016.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

8/2/2016

Acquired - II

$99M

1

10/11/2002

Acquired

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$99M

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0

Date

8/2/2016

10/11/2002

Exit

Acquired - II

Acquired

Companies

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Valuation

$99M

$99M

Acquirer

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Sources

1

0

HCLTech Acquisitions

30 Acquisitions

HCLTech acquired 30 companies. Their latest acquisition was Quest Informatics on May 09, 2022.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

5/9/2022

$99M

Acquired

2

5/9/2022

$99M

Acquired

6

1/14/2022

Other Venture Capital

$99M

$5M

Acquired

3

12/8/2021

Other

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$99M

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10

9/29/2021

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$99M

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10

Date

5/9/2022

5/9/2022

1/14/2022

12/8/2021

9/29/2021

Investment Stage

Other Venture Capital

Other

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Total Funding

$5M

Note

Acquired

Acquired

Acquired

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Sources

2

6

3

10

10

HCLTech Partners & Customers

10 Partners and customers

HCLTech has 10 strategic partners and customers. HCLTech recently partnered with UPLINK on September 9, 2022.

Date

Type

Business Partner

Country

News Snippet

Sources

9/20/2022

Partner

Germany

HCL and UpLink Call for Applications Globally for Aquapreneur Innovation Initiative

HCL Technologies , through its large network and partnership with the World Economic Forum 's UpLink , is keen to ensure that these entrepreneurs are identified and supported . ''

3

9/13/2022

Partner

United States

HCL Technologies, Intel launch hub for hybrid workplace solutions

India-based software firm HCL Technologies has expanded its partnership with Intel by launching a center of excellence to develop technology solutions for connected and secure hybrid workplaces .

1

8/8/2022

Partner

HCL and SQA to Collaborate on Quantum Technology Ecosystem Development

Through this industry-academia partnership , HCL Technologies and SQA aim to bring together their capabilities to create education and development opportunities for students within the realm of quantum technology .

1

7/19/2022

Partner

United States

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10

7/18/2022

Client

Netherlands

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10

Date

9/20/2022

9/13/2022

8/8/2022

7/19/2022

7/18/2022

Type

Partner

Partner

Partner

Partner

Client

Business Partner

Country

Germany

United States

United States

Netherlands

News Snippet

HCL and UpLink Call for Applications Globally for Aquapreneur Innovation Initiative

HCL Technologies , through its large network and partnership with the World Economic Forum 's UpLink , is keen to ensure that these entrepreneurs are identified and supported . ''

HCL Technologies, Intel launch hub for hybrid workplace solutions

India-based software firm HCL Technologies has expanded its partnership with Intel by launching a center of excellence to develop technology solutions for connected and secure hybrid workplaces .

HCL and SQA to Collaborate on Quantum Technology Ecosystem Development

Through this industry-academia partnership , HCL Technologies and SQA aim to bring together their capabilities to create education and development opportunities for students within the realm of quantum technology .

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Sources

3

1

1

10

10

HCLTech Team

36 Team Members

HCLTech has 36 team members, including current Chief Executive Officer, Vineet Nayar.

Name

Work History

Title

Status

Vineet Nayar

Chief Executive Officer

Current

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Name

Vineet Nayar

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Work History

Title

Chief Executive Officer

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Status

Current

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