The Economic Times
English EditionEnglish Editionहिन्दी
| E-Paper
Search
+

    HCL expects positive good growth trajectory going forward: Chairman Roshni Nadar-Malhotra

    Synopsis

    Nadar-Malhotra said that the challenges in the external environment have created new demand for products and services such as infrastructure and cybersecurity services, eCommerce, digital marketing, and digital experience.

    The company will continue to invest appropriately in enhancing capabilities, attracting top talent, and innovating for the future, Roshni Nadar said.
    New Delhi: Addressing HCL Technologies first annual general meeting after taking over as Chairman earlier this year, Roshni Nadar Malhotra said that the impact from Covid-19 on customer demand has stabilized after the early days of the pandemic adding that the initial revenue decline has turned the corner to a positive good growth trajectory going forward.

    Nadar-Malhotra who took over as Chairman of the Board of the country’s third largest software services firm also said that HCL has been delivering industry leading growth consistently for the last four years.

    “If you look at the top 10 global industry players in technology, we have had the highest growth and highest CAGR over the last four years with an exceptional performance across all metrics in FY20,” she said.

    Earlier this month, HCL said that the company will exceed its forecast in the quarter to September on the back of better execution and growing business from clients in life sciences and healthcare, telecom & media and financial services verticals. The revenue growth for the current quarter is expected to exceed 3.5% quarter on quarter in constant currency, while margins are expected to be in the between 20.5% and 21% in the quarter .

    Nadar-Malhotra said that the challenges in the external environment have created new demand for products and services such as infrastructure and cybersecurity services, eCommerce, digital marketing, and digital experience.

    “Retailers are now looking to accelerate and scale their eCommerce model to quickly move away from remaining brick and mortar structures. Similarly, work from home arrangements have highlighted the need for ensuring Cybersecurity in the last mile between office and home. We are very well positioned to capitalize on these opportunities…”

    In a recent interview to ET, HCL CEO C Vijayakumar said that he expects the industry to grow faster in the coming five years than it has in the previous five years. “We forecast roughly 2% growth per quarter in the next three quarters as a guidance. If I take a slightly longer-term view, while the pandemic has slowed economies globally, it has not impacted the tech sector so much. We are in the midst of what I would call the most intense period of technology and digital proliferation in the history of digital or global commerce,”

    Nadar-Malhotra added that FY20 is a tale of two chapters - wherein the first three quarters the strength of its core business verticals such as banking and financial services, technology, lifesciences & healthcare, telecommunications, media, publishing & entertainment, retail & CPG and public services was increased. In the second chapter, or last quarter is when Covid-19 swept across the world.

    “This was a period of immense learning and testing for us. I am proud that we stood tall – humble yet unwavering, and displayed the agility, vitality, empathy and capabilities to create new ways of working and new opportunities while continuing to be a good corporate citizen.”

    1 Comment on this Story

    Pankaj Sharma60 days ago
    Seen first time, as the MD, of HCL commenting of the situation, like it, we wish, Roshniji, proves herself, another SHIV NADAR, so far as business leader role is considered.
    A bold statement with a challenging courage.
    ALL THE VERY BEST.
    The Economic Times