HCL Technologies

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HCL Technologies Ltd.
Public
Traded as BSE: 532281
NSE: HCLTECH
Industry IT services, IT consulting
Founded 12 November 1991; 33 years ago (1991-11-12)[1]
Founder Shiv Nadar
Headquarters Noida, India
Area served
 Worldwide
Key people
 Shiv Nadar (Chairman & CSO)[2]
Anant Gupta (President & CEO)[3]
Services IT, business consulting and outsourcing services[4]
Revenue Increase US$ 6.1 billion (FY'15)[5]
Increase US$ 1.324 billion (FY'15)[5]
Profit Increase US$ 1.164 billion (FY'15)[5]
Number of employees
 104,896 (March 2016)[6]
Parent HCL Enterprise
Slogan Relationship Beyond the Contract.[7]
Website HCLTech.com

HCL Technologies Limited is a multinational IT services company, headquartered in Noida, Uttar Pradesh, India. It is a subsidiary of HCL Enterprise. Originally the research and development division of HCL Limited, it emerged as an independent company in 1991 when HCL Limited ventured into the software services business.[8] HCL Technologies (often called Hindustan Computers Limited) offers services including IT consulting, enterprise transformation, remote infrastructure management, engineering and R&D, and business process outsourcing (BPO).[9]

The company has offices in 32 countries, and operates across a number of industry verticals including aerospace and defense, automotive, consumer electronics, energy and utilities, financial services, government, independent software vendors, industrial manufacturing, life sciences and healthcare, media and entertainment, mining and natural resources, oil and gas, public services, retail and consumer, semiconductor, server and storage, telecom, and travel, transportation, logistics and hospitality.[10][11]

HCL Technologies is on the Forbes Global 2000 list and is one of Asia’s Fab 50 Companies.[12][13] It is among the top 20 largest publicly traded companies in India and had a market capitalization of $22.1 billion as of May 2015.[14] HCL Technologies, along with its subsidiaries, had consolidated revenues of $6.0 billion as of August 2015.[5]

History

HCL Technologies Limited is a global IT services company, headquartered in Noida, Uttar Pradesh, India. Originally the research and development division of HCL Limited, it emerged as an independent company in 1991 when HCL Limited ventured into the software services business.[15] HCL Technologies (often called Hindustan Computers Limited) offers services including IT consulting, enterprise transformation, remote infrastructure management, engineering and R&D, and business process outsourcing (BPO).[16]

The company has offices in 32 countries, and operates across a number of industry verticals including aerospace and defense, automotive, consumer electronics, energy and utilities, financial services, government, independent software vendors, industrial manufacturing, life sciences and healthcare, media and entertainment, mining and natural resources, oil and gas, public services, retail and consumer, semiconductor, server and storage, telecom, and travel, transportation, logistics and hospitality.[17][18]

HCL Technologies is on the Forbes Global 2000 [19][20] It is among the top 20 largest publicly traded companies in India and had a market capitalization of $22.1 billion as of May 2015.[21] HCL Technologies, along with its subsidiaries, had consolidated revenues of $6.0 billion as of August 2015.[5]

History

Formation and early years

HCL Technologies is one of the four companies under HCL Corporation, the second company being HCL Infosystems. In February, 2014 HCL forayed into healthcare with the launch of a new venture, HCL Healthcare.[22] HCL TalentCare is the fourth and latest venture of HCL Corporation.[23]

HCL Technologies began as the R&D Division of HCL Enterprise,[24] a company which was a major contributor in the development and growth of the IT and computer industry in India. HCL Enterprise like the most delivered several firsts – an indigenous microcomputer in 1978,[25] a Relational Database Management System (RDBMS), a networking OS and a client-server architecture in 1983,[26] and a fine-grained multiprocessor UNIX installation in 1989. On 12 November 1991, HCL Technologies was spun off as a separate unit to mark the company’s arrival in the software services arena.

HCL Technologies was originally incorporated as HCL Overseas Limited.[27] The name was changed to HCL Consulting Limited on 14 July 1994.[28] On 6 October 1999, the company was renamed as ‘HCL Technologies Limited’ for a better reflection of its activities.[27]

The period between 1991 and 1999 saw the company expand its software development capacities, building one of the largest set-ups in India. It was also around this time that the company spread its operations to the US, European and APAC markets.[27]

IPO and subsequent expansion

Following the rebranding as ‘HCL Technologies Limited’, the company went public on 10 November 1999, with an issue of 14.2 million shares, valued at ₹4 each.[29] During 2000, the company set up a dedicated offshore development center in Chennai, India, for KLA-Tencor Corporation.[29] In 2002, it acquired Gulf Computers Inc., USA, as a part of its expansion drive.[29]

Acquisitions

Number Acquisition date Company Business Country References
1 February 20, 2008 Capital Stream Inc. Automation solutions  USA [30]
2 July 16, 2008 Liberata Financial Service Business process outsourcing  UK [31]
3 August 25, 2008 Control Point Solutions, Inc. Telecom solutions  USA [32]
4 December 15, 2008 Axon Group Plc. SAP Consulting  UK [33]
5 July 16, 2009 UCS Group’s Enterprise Solutions SAP Practice SAP  SA [34]
6 April 1, 2016 Part of Volvo IT Information technology  SWE [35]
7 October 19, 2015 Concept to Silicon Systems (C2SiS) Semi-Conductors  IND [36]

Operations

A world-map showing the countries where HCL Technologies has operations.

The company operates in 34 countries across the globe,[37] including its headquarters in Noida, Uttar Pradesh, India. In the APAC and EMEA, it has establishments in Australia, China, Hong Kong, India, Indonesia, Israel, Japan, Malaysia, New Zealand, Saudi Arabia, Singapore, South Africa, United Arab Emirates and Qatar. In Europe it covers Belgium, Czech Republic, Denmark, Estonia,[38] Finland, France, Germany, Italy, Netherlands, Norway, Poland, Sweden, Switzerland and the United Kingdom. In the Americas, the company has offices in Brazil, Canada, Mexico, Puerto Rico and the United States.

Business lines

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  1. Applications Services: This division delivers integrated transformation services for the applications portfolio of companies in consumer, manufacturing, life sciences, healthcare, public, and financial services domains.[39]
  2. Business Services: The division provides Next-Gen BPO services across industries. It consists of a team of 14,000 professionals, operating out of delivery centers spread across India, USA, Europe, Ireland, UK, Latin America and the Philippines.[40] The company uses its integrated global delivery model to ensure seamless operations across geographies.[41] It has also launched EFaaS (Enterprise Functions as a Service), aimed at transforming enterprise functions while driving significant savings on the total cost of operations.[42]
  3. Engineering and R&D Services (ERS): This division is focused on providing comprehensive engineering and R&D services and solutions in hardware and software product engineering across industry verticals with targets areas like Internet of Things (IoT), Big Data Analytics, Social Media, Digitalization and Product Intelligence.[43][44]
  4. Infrastructure Management Services (IMS)

Partnerships and alliances

Manchester United and HCL Technologies announcing their partnership at Old Trafford stadium

HCL's ecosystem consists of close to 100 companies in various technology areas with which they have formed go-to-market alliances, specialist partnerships for niche technologies, and teaming partnerships for specific customers.

Corporate social responsibility

Community initiatives

Power of One

Power of One is an employee-driven, management supported initiative that focuses on transforming social projects and activities. [45] As a part of this initiative, the company has undertaken:

  • Project Samudhay, which involves adopting 100 villages and driving transformation in five areas — water, women's welfare, education, health and malnutrition, and sanitation.[46]
  • Association with Udayan Ghar[47]> and over 55 other NGOs, to promote all-round community development and growth.[48]

Additionally, since 2006, the company has been conducting a series of monthly and biennial concerts to provide a platform for upcoming young Indian classical artists to showcase their talent.[49]

Environment initiatives

Go Green

HCL runs a multi-layered program Go Green, as a part of its continued sustainability initiatives.[50] This covers green processes across facilities, and in the areas of travel, IT and events. The company has designed and developed a comprehensive GreenEdge sustainability framework to address challenges specific to the needs of manufacturing industries.[50]

In addition, it is also:

Honours

Awards

  • 2015: HCL Technologies won the Aecus Innovation Award for implementing an operational control center for Unilever.[58]
  • 2014: The company was recognized as the Best governed company by the Asian Centre for Corporate Governance & Sustainability.[59]
  • 2014: HCL Technologies was named as the Outstanding Company of the Year at CNBC-TV18’s India Business Leader Award.[60]
  • 2014: The company won The HR Excellence Award for Most innovative deployment of HR technology.[61]

Recognition

See also

References

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External links

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