COVID-19 impact on demand has stabilised, co back on ‘good’ growth trajectory: HCL Tech

By: |
September 29, 2020 6:34 PM

Speaking at the company's 28th Annual General Meeting (AGM), Malhotra said the company has seen growth in several areas, including infrastructure and cybersecurity services, e-commerce, digital marketing and digital experience.

"Our business practices will be sustainable and our growth will continue to be inclusive and diverse. Digital transformation for our clients and within our enterprise will continue to drive our business agenda."Our business practices will be sustainable and our growth will continue to be inclusive and diverse. Digital transformation for our clients and within our enterprise will continue to drive our business agenda.

HCL Technologies has moved to a “positive good” growth trajectory after the initial impact of the COVID-19 pandemic, and it will continue to invest appropriately in enhancing capabilities, attracting top talent, and innovating for the future, chairperson Roshni Nadar Malhotra said on Tuesday.

Speaking at the company’s 28th Annual General Meeting (AGM), Malhotra said the company has seen growth in several areas, including infrastructure and cybersecurity services, e-commerce, digital marketing and digital experience.

“The impact from COVID-19 on customer demand has stabilised after the early days of the pandemic. We have managed our business with operational discipline, and we believe the initial revenue decline has turned the corner to a positive good growth trajectory going forward,” she said.

HCL Technologies is positioned as the leading global technology company, primed to help businesses around the world become resilient, scalable and powerful digital enterprises, ready to redefine their industries and reach their maximum human and technology potential, she added.

In July this year, Malhotra was appointed as the chairperson of HCL Technologies, taking over the reins of the USD 8.9 billion company from her father and billionaire Shiv Nadar. She is the first woman to head a listed Indian IT company as chairperson.

Malhotra, who is the country’s richest woman, had joined HCL Technologies’ board in 2013 and was vice chairperson earlier. She continues to be the CEO of HCL Corporation, the holding company for all the group entities.

“Our business practices will be sustainable and our growth will continue to be inclusive and diverse. Digital transformation for our clients and within our enterprise will continue to drive our business agenda.

“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. Malhotra said the challenges in the external environment have created new demand for the company’s products and services.

“…we have seen growth in several areas, including infrastructure and cybersecurity services, e-commerce, digital marketing, and digital experience…We are very well positioned to capitalise on these opportunities…,” she added.
The company will continue to invest appropriately in enhancing capabilities, attracting top talent, and innovating for the future, she said.

“I believe that the year 2020 will leave an indelible imprint on the way we view the world and experience life in the coming decade and beyond.

“There will be large challenges but even larger opportunities in front of us…As we gear up for this massive transformation, we cannot ignore the power of collaboration with our technology peers, knowledge partners, governments, universities and other key members of our ecosystem,” she noted.

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