NY-HCLTECH
26.4.2024 22:07:31 CEST | Business Wire | Press release
HCLTech, a leading global technology company, today reported financial results for the fourth quarter and the full year ended March 31, 2024.
The company reported full year revenue of $13.3 billion, up 5.4% YoY. Digital Services revenue grew by 5.3% (CC) and now contributes to 37.3% of IT Services revenue. HCLSoftware’s Annual Recurring Revenue came in at $1.02 billion. During FY24, the company won 73 large deals – 36 in Services and 37 in Software - that translated into TCV (new deal wins) of $9.76 billion, up 10% YoY.
For the quarter, revenue came in at $3.43 billion, up 6% YoY. HCLTech won 21 large deals – 13 in Services and eight in Software, with a TCV of $2.29 billion during the quarter.
In terms of geographies, Americas was the fastest growing region with 6.8% YoY (CC) growth followed by Europe, which grew by 5.5% YoY (CC).
Industry vertical growth was led by Financial Services and Telecommunications, Media, Publishing & Entertainment. While Financial Services grew at 12.1% YoY CC for the full year, the Telecommunications, Media, Publishing & Entertainment vertical recorded 39.2% growth (YoY) during the quarter.
The company announced a dividend of ₹18/share for the quarter, bringing the total to ₹52/share for FY24.
HCLTech’s total people count at the end of the quarter stood at 227,481. The company hired a total of 12,141 freshers during the full year. LTM attrition further moderated to 12.4% from 19.5%.
“HCLTech continues to lead the industry in FY24 with good USD revenue growth of 5.4% YoY during challenging times through our strong commitment to our clients and our people. More importantly, we have translated this growth into even higher value creation for our shareholders with our OCF (operating cashflow) coming at $2,711 million, up 21.6% YoY and FCF (free cashflow) at $2,584 million, up 27.7% YoY. As we look ahead, global enterprise technology spend will only grow with adoption of AI. We are well positioned to capitalize with our AI-led propositions, global delivery model and ideal mix of technology services and products,” said C Vijayakumar, CEO & Managing Director, HCLTech.
For FY25, the company has given a guidance of 3%-5% revenue growth YoY (CC) and EBIT margin at 18%-19%.
“HCLTech’s FY24 performance underlines the resilience of our business model with revenue at ₹109,913 crore, growing 8.3%. We delivered this industry-leading growth with EBIT at ₹20,027 crore, up 8.4%. Net Income (NI) for the year came in at ₹15,702 crore, up 5.7%, translating to an EPS of ₹57.86,” added Prateek Aggarwal, Chief Financial Officer, HCLTech.
HCLTech is witnessing strong growth in cloud and cybersecurity. AI and GenAI are key areas of focus and the company recently launched HCLTech AI Force, an innovative GenAI platform that accelerates time-to-value by transforming the software development and engineering lifecycle, delivering greater productivity, improved quality and faster release timelines. It is system agnostic and offers a highly customizable suite of GenAI-based solutions that inject intelligence into software development and engineering workflows to improve efficiency and developer experience.
Among the select GenAI deals that HCLTech won in the quarter are:
- A US-based biopharmaceutical company selected HCLTech to leverage GenAI and data engineering to automate the extraction of structured and unstructured data from diverse sources.
- A US-based financial services provider selected HCLTech to migrate its existing machine learning models to new-age GenAI platforms for greater agility, improvement and innovation in service delivery.
HCLTech was recognized by Ethisphere as one of the World’s Most Ethical Companies in 2024. Other key recognitions that HCLTech received in Q4 FY24 are:
- Rated AA in the MSCI ESG ratings for the second consecutive year
- Included in the S&P Global Sustainability Yearbook 2024 for the second year in a row
- Rated as the fastest-growing IT services brand with 15.9% YoY growth in brand value among the top 10 IT companies globally, as per the 2024 Brand Finance Global 500 and IT Services Top 25 Report.
About HCLTech
HCLTech is a global technology company, home to more than 227,000 people across 60 countries, delivering industry-leading capabilities centered around digital, engineering, cloud and AI, powered by a broad portfolio of technology services and products. We work with clients across all major verticals, providing industry solutions for Financial Services, Manufacturing, Life Sciences and Healthcare, Technology and Services, Telecom and Media, Retail and CPG, and Public Services. Consolidated revenues as of 12 months ending March 2024 totaled $13.3 billion. To learn how we can supercharge progress for you, visit hcltech.com.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240426991009/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Europe Launches Euro-Q-Exa Quantum Computer in Germany, Strengthening Sovereign Digital Infrastructure12.2.2026 21:15:00 CET | Press release
Euro-Q-Exa will serve the scientific community and industry across Germany and Europe, enabling hands-on quantum research and application development within Europe’s HPC ecosystem. Installed, hosted, and operated at Leibniz Supercomputing Centre (LRZ), ensuring local control, operational expertise, and long-term capability building. Developed by IQM Quantum Computers using its Radiance platform, designed to enable institutions to build, operate, and evolve their own quantum capability. Engineered for deep integration with high-performance computing, supporting scalable hybrid quantum–HPC workflows. Co-funded by the EuroHPC Joint Undertaking, the German Federal Ministry of Research, Technology and Space (BMFTR), and the Bavarian State Ministry of Science and the Arts (StWK). Euro-Q-Exa, the first EuroHPC Joint Undertaking quantum computer deployed in Germany, has been unveiled at the Leibniz Supercomputing Centre (LRZ) in Garching, Munich. This press release features multimedia. View th
Sindre Zeiner-Gundersen Joins Joi Scientific12.2.2026 20:00:00 CET | Press release
Joi Scientific is pleased to welcome Sindre Zeiner-Gundersen as the company’s Advanced Plasma & Resonant Energy Physicist. Sindre will lead Joi’s scientific activities including all aspects of Joi’s science program. Sindre is a quantum physics expert who previously served as CEO/President of Nornec AS, a Norwegian consulting and engineering services company. Nornec has been a consultant to Joi since 2024. At Nornec, Sindre provided consulting and R&D services in the areas of advanced nuclear reactor simulations, process and plant optimization, carbon capture optimization, materials selection and radiation effects, custom reactor design, muon and neutron detector systems, muon and catalyzed fusion and Hydrogen Rydberg Matter research. An applied physicist with end‑to‑end expertise in energy‑carrier gases - ammonia, methanol, hydrogen - as well as a radiation instrumentation specialist with experience in process and equipment design across the ammonia/hydrogen value chain, Sindre has aut
Angelalign Technology Inc. (6699.HK) Says a Preliminary European Court Ruling on Certain Software Features Will Have Minimal Impact on Users12.2.2026 17:58:00 CET | Press release
Angelalign Technology Inc. (6699.HK) (“Angel”) said a ruling by the Unified Patent Court of Düsseldorf, Germany that it preliminarily cease its use of certain software functions that automatically update treatment plans would have minimal impact on the orthodontists and patients who use its clear aligner products. The ruling applies to certain European countries and excludes Spain, Switzerland, United Kingdom and Ireland. Angel will launch iPlan for applicable European users, which is an upgrade feature that has the same reliability and more flexibility for users. Angel denies that the Live Now feature in its iOrtho treatment planning software infringes any valid patents of Align Technology Inc. (ALGN). Angel has already filed an opposition against the patent with the European Patent Office (EPO), arguing that the claimed invention is neither novel nor inventive over the prior art, and is seeking its permanent invalidation. Angel is confident it will overcome the first-instance, non-fi
Model ML Buys Captide to Give Financial AI Agents Citable Corporate Disclosure Data12.2.2026 17:43:00 CET | Press release
Deal follows AI workflow company’s $75m fundraise - one of the largest fintech Series As in history Model ML today announced the acquisition of Captide, the leading financial data layer that turns complex global corporate filings and disclosures into LLM-ready documents and data for AI agents. The acquisition, just weeks after the fintech raised $75m in funding from leading US and UK investors, expands Model ML’s AI workflow builder, enabling its AI agents to reliably retrieve, reason over, and cite global filings. Earlier in 2025, Model ML bought Flippr which added automated PowerPoint generation and verification agents to the platform. Founded in 2024 by Maurits Brinkman and Miquel Trafí Ruiz, Captide’s API takes SEC filings, earnings calls and more and structures them in a way AI models can easily and accurately understand at scale. Its platform already spans 2.5 million+ documents and supports 1 billion embeddings. By bringing Captide into Model ML, clients – including Big 4 accoun
i2c Named Finalist for Best Security or Anti-Fraud Development at Card & Payments Awards Middle East 202612.2.2026 15:00:00 CET | Press release
i2c’s AI-driven Fraud Risk Management solution recognized for delivering impactful results for Middle East clients i2c Inc., a global financial technology innovator, has been named a finalist in the Best Security or Anti-Fraud Development category at The Card & Payments Awards Middle East 2026. The region’s premier awards program recognizes organizations that deliver practical, high-impact innovations to strengthen payment security and protect customers in one of the world’s fastest-growing digital payments markets. i2c was recognized for its AI-driven Fraud Risk Management solution, embedded directly within its unified banking and payments platform and operating in real time at the point of transaction authorization—an increasingly critical capability as digital payments scale across Middle East markets. By evaluating risk at the moment a payment is initiated, rather than after funds are approved, the solution enables earlier detection of fraudulent activity while preserving approval
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom