HCL Tech’s 5-yr plan: Double-digit growth and larger global footprint
It’s very rare to see Roshni Nadar, chairperson HCL Technologies, talking about the group’s IT services business.
At a media conference in Mumbai on Thursday she said her vision for the company was that it should keep growing in double digits. When asked what her five-year vision of the company was, she said: “Five years from now we will grow in more geographies and business lines. North Asia, Central America, Eastern Europe and Africa are newer geographies for the company.”
Nadar who took over as chairperson from her father, Shiv Nadar, in 2020, said the demand environment for technology continued to be robust. “Global clients have a razorsharp focus on accelerating digital transformation with efficiency,” she added. “... Tuck in acquisitions, specialised acquisitions, which give us certain domain expertise and a certain strength in different business lines is something that we will do, but the focus has been organic growth.”
Nadar, while agreeing that though HCL Technologies was the largest group company, HCL Healthcare could also emerge as a significant player. “It’s a corporate health care solutions provider. Today I think it’s one of the largest, in terms of numbers, corporate health care providers in the country. HCL Tech is a large customer, we’ve got other customers as well. So, I see that evolving and growing within India as health care is becoming a priority for organisations all over the world,” she added.
HCL Technologies is the largest contributor to philanthropic activities that the promoters have.
C Vijayakumar, chief executive officer and managing director, HCL Technologies, chalked out five strategic objectives that would drive value creation for customers and shareholders in the long term. “We have over the years conceptualised and pioneered innovation. We want to be a differentiated leader in the market through innovation, cloud capabilities, integrated solutions and accelerators. Two, we want to be an employer of choice in our chosen markets,” said Vijayakumar.
The third objective is to be a preferred digital partner for the Fortune 2000 companies, and fourth one is to weave ESG (environmental, social and government) practices into the business strategy. “Lastly we want to continue delivering industryleading TSR (total shareholder returns) for our shareholders.”
HCL Technologies reported dollar revenue growth of 11 per cent year-on-year at $2.99 billion for FY22. The company has given a revenue growth guidance of 1214 per cent in constant currency for FY23.