HCL Technologies

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HCL Technologies Ltd
Public company
Traded as BSE532281
Industry IT services, IT consulting
Founded 11 August 1976; 40 years ago (1976-08-11)[1]
Founder Shiv Nadar
Headquarters Noida, India
Area served
Key people
Shiv Nadar (Chairman & CSO)[2]
C Vijayakumar (President & CEO)[3]
Anant Gupta (Ex-President & Ex-CEO)[4]
Services IT, business consulting, and outsourcing services[2]
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
107,968 (June 2016)[2]
Parent HCL Enterprise
Website HCLTech.com

HCL Technologies Limited is an Indian multinational IT services company, headquartered in Noida, Uttar Pradesh, India. It is a subsidiary of HCL Enterprise. Originally a research and development division of HCL, it emerged as an independent company in 1991 when HCL ventured into the software services business.[7] HCL Technologies (an acronym for Hindustan Computers Limited)[8] 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 34 countries including the United States, European countries like France and Germany, and Northern Ireland[10] in the United Kingdom. It operates across a number of sectors including aerospace and defense, automotive, consumer electronics, energy and utilities, financial services, government, industrial manufacturing, life sciences and healthcare, media and entertainment, mining and natural resources, public services, retail and consumer, semiconductor, server and storage, telecom, and travel, transportation, logistics, and hospitality.[11][12]

HCL Technologies is on the Forbes Global 2000 list.[13] It is among the top 20 largest publicly traded companies in India with a market capitalisation of $22.1 billion as of May 2015.[14] As of August 2015, the company, along with its subsidiaries, had a consolidated revenue of $6.0 billion.[5]


Formation and early years[edit]

In the summer of 1976, a group of six engineers, all former employees of Delhi Cloth & General Mills, led by Shiv Nadar, started a company that would make personal computers. Initially floated as Microcomp Limited, Nadar and his team started selling teledigital calculators to gather capital for their main product. On 11 August 1976, the company was renamed to HCL.[15]

On 12 November 1991, a company called HCL Overseas Limited was incorporated as a provider of technology development services. It received the certificate of commencement of business on 10 February 1992 after which it began its operations. Two years later, in July 1994, the company name was changed to HCL Consulting Limited and eventually to HCL Technologies Limited in October 1999. HCL is an acronym for Hindustan Computers Limited.

HCL Technologies is one of the four companies under HCL Corporation, the second company being HCL Infosystems. In February 2014 HCL launched HCL Healthcare.[16] HCL TalentCare is the fourth and latest venture of HCL Corporation.[17]

HCL Technologies began as the R&D Division of HCL Enterprise,[18] a company which was a contributor to the development and growth of the IT and computer industry in India. HCL Enterprise developed an indigenous microcomputer in 1978,[19] and a networking OS and client-server architecture in 1983.[20] On 12 November 1991, HCL Technologies was spun off as a separate unit to provide software services.

HCL Technologies was originally incorporated as HCL Overseas Limited.[21] The name was changed to HCL Consulting Limited on 14 July 1994.[22] On 6 October 1999, the company was renamed 'HCL Technologies Limited' for a better reflection of its activities.[21] Between 1991 and 1999, the company expanded its software development capacities to the US, European and APAC markets.[21]

IPO and subsequent expansion[edit]

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.[23] During 2000, the company set up an offshore development centre in Chennai, India, for KLA-Tencor Corporation.[23] In 2002, it acquired Gulf Computers Inc.[23]


Number Acquisition date Company Business Country References
1 20 February 2008 Capital Stream Inc. Automation solutions United States [24]
2 16 July 2008 Liberata Financial Service Business process outsourcing United Kingdom [25]
3 25 August 2008 Control Point Solutions, Inc. Telecom solutions United States [26]
4 15 December 2008 Axon Group Plc. SAP Consulting United Kingdom [27]
5 16 July 2009 UCS Group's Enterprise Solutions SAP Practice SAP SA [28]
6 1 April 2016 Part of Volvo IT Information technology Sweden [29]
7 19 October 2015 Concept to Silicon Systems (C2SiS) Semi-Conductors India [30]
8 29 October 2015 PowerObjects CRM Consulting United States [31]
9 2016 Geometric Ltd PLM & Engineering Services India [32]

On 23 July 2015,CSC (NYSE: CSC) and HCL Technologies (BSE: HCLTECH) announced a joint venture agreement to form a banking software and services company, Celeriti FinTech.[33][34]


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

Most HCL Technologies offices are not in the USA, but it does operate in 34 countries,[35] including its headquarters in Noida in India. 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,[36] 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[edit]

  1. Applications Services[37]
  2. BPO/Business Services: This division has "delivery centers" in India, the Philippines, Latin America, USA, HCL BPO Northern Ireland, and Europe.[10][38][39][40]
  3. Engineering and R&D Services (ERS)[41][42]
  4. Infrastructure Management Services (IMS)

HCL in United Kingdom and Northern Ireland[edit]

On 7 September 2005, HCL Technologies expanded its operations base in the counties of Armagh and Belfast in Northern Ireland. At the 2006 UK Trade and Investment India Business Awards in New Delhi, the then UK Prime Minister Tony Blair announced the expansion, which is aimed at creating more IT and BPO jobs in the area. HCL Armagh and HCL Northern Ireland acquired the Armagh-based Answerall Direct earlier in 2005.[43] HCL BPO services in Ireland are carried out through its main delivery centres in Armagh and Belfast.[44] In November 2011, after HCL revealed an expansion plan in the Irish Republic county of Kilkenny, its Business Process Outsourcing (BPO) division in Northern Ireland won a contract for back-office services from the Department of Health. It was aimed at increasing the number of jobs and other employment opportunities in the region.[45]

Corporate social responsibility[edit]

Community initiatives[edit]

Power of One is an employee-driven, management supported initiative that focuses on transforming social projects and activities.[46] 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.[47]
  • Association with Udayan Ghar[48] and over 55 other NGOs, to promote all-round community development and growth.[49]

Additionally, since 2006, the company conducts monthly and biennial concerts to provide a platform for upcoming young Indian classical artists to showcase their talent.[50]

Environment initiatives[edit]

HCL runs a multi-layered program Go Green as a part of its continued sustainability initiatives.[51]

In addition, it is also:



  • 2015 – Aecus Innovation Award for implementing an operational control centre for Unilever[59]
  • 2014 – Best Governed Company by the Asian Centre for Corporate Governance & Sustainability[60]
  • 2014 – Outstanding Company of the Year at CNBC-TV18's India Business Leader Awards[61]


See also[edit]


  1. ^ "Company History – HCL Technologies Ltd.". CIOL. Retrieved 14 January 2011. 
  2. ^ a b c "Fast Facts". HCL Technologies. 1 February 2014. Retrieved 1 February 2014. 
  3. ^ http://www.hcltech.com/about-us/leadership/c-vijayakumar
  4. ^ "HCL Technologies appoints Anant Gupta as CEO; Vineet Nayar to continue as Vice Chairman". The Economic Times. Retrieved 28 August 2015. 
  5. ^ a b c d "HCL Technologies Financial Statements". HCL Technologies. 3 August 2015. Retrieved 3 August 2015. 
  6. ^ "Relationship beyond the Contract". HCL Technologies. Retrieved 24 July 2015. 
  7. ^ "Company History – HCL Technologies Ltd.". The Economic Times. Retrieved 28 August 2015. 
  8. ^ HINDUSTAN COMPUTERS LIMITED (HCL) (PDF), India Brand Equity Foundation, retrieved 9 June 2016 
  9. ^ "HCL to take care of US energy firm customers". Business Standard. 4 September 2013. 
  10. ^ a b "Foster meets HCL President in Delhi", Invest Northern Ireland, 21 September 2009, retrieved 9 June 2016 
  11. ^ "HCL Technologies Ltd.". NDTV Profit. Retrieved 28 August 2015. 
  12. ^ Building a Reservoir of Strategic Competencies That Will Develop and Engage Leaders for the Future (PDF) (Report). 
  13. ^ "The World's Biggest Public Companies". Forbes. May 2013. 
  14. ^ "Top 100 Companies by Market Capitalization BSE". BSE. Retrieved 15 February 2015. 
  15. ^ "The amazing story of the birth of HCL". 
  16. ^ "HCL enters healthcare business with Rs 1,000 crore". The Times of India. 7 February 2014. Retrieved 28 August 2015. 
  17. ^ "HCL launches TalentCare to bridge supply gap in IT, Healthcare, Banking". The Economic Times. 15 May 2015. Retrieved 29 August 2015. 
  18. ^ "Heritage & Legacy". HCL. Retrieved 28 August 2015. 
  19. ^ "About HCL Enterprise". HCL Technologies. Retrieved 28 August 2015. 
  20. ^ "Milestones". HCL. Retrieved 28 August 2015. 
  21. ^ a b c "Company History – HCL Technologies Ltd.". The Economic Times. Retrieved 28 August 2015. 
  22. ^ "Company History – HCL Technologies Ltd.". The Economic Times. Retrieved 28 August 2015. 
  23. ^ a b c "Company History – HCL Technologies Ltd.". The Economic Times. Retrieved 28 August 2015. 
  24. ^ "HCL acquires Capital Stream for $40 million". The Economic Times. 21 February 2008. Retrieved 28 August 2015. 
  25. ^ "HCL Tech to acquire Liberata Financial Services". Business Standard. 16 July 2008. Retrieved 28 August 2015. 
  26. ^ "HCL Tech buys US based Control Point". The Times of India. 25 August 2015. Retrieved 28 August 2015. 
  27. ^ "HCL Technologies Completes Acquisition of AXON Group plc". Bloomberg. 15 December 2008. Retrieved 28 August 2015. 
  28. ^ "HCL Tech Division Buys UCS Group's SAP Operations". The Wall Street Journal. 17 July 2009. Retrieved 28 August 2015. 
  29. ^ "HCL Tech to buy Volvo's IT business". Business Line. 20 October 2015. Retrieved 20 October 2015. 
  30. ^ "HCL acquires privately held Engineering services firm Concept to Silicon". The Economic Times. 19 October 2015. Retrieved October 2015.  Check date values in: |access-date= (help)
  31. ^ "HCL Technologies Acquires CRM Services Provider PowerObjects | HCL Technologies". www.hcltech.com. Retrieved 22 July 2016. 
  32. ^ "HCL Technologies Signs Definitive Agreement to Acquire the Business of Geometric Limited | HCL Technologies". www.hcltech.com. 
  33. ^ "CSC and HCL Form Joint Venture to Deliver Digital Software and Services to Global Banking Clients". BusinessWire. Retrieved 23 July 2015. 
  34. ^ "CeleritiFinTech". HCLTECH. 
  35. ^ "HCL Technologies Wins Five-Year IT Managed Services Contract With SAI Global". CSO. Retrieved 28 August 2015. 
  36. ^ "HCL Opens Centre in Estonia". The Economic Times. Retrieved 4 December 2015. 
  37. ^ "HCL Tech bets big on apps business for growth". Business Line. 4 January 2015. Retrieved 28 August 2015. 
  38. ^ "We continue to strive for a margin range of 21–22 per cent: Anil Chanana, CFO, HCL Technologies". The Economic Times. 3 August 2015. Retrieved 28 August 2015. 
  39. ^ "HCL Tech: a firm whose business fundamentals are still strong". Business Line. 11 January 2015. Retrieved 28 August 2015. 
  40. ^ "HCL Technologies Q3 profit jumps 73 pc, beats estimates". The Economic Times. 17 April 2013. Retrieved 28 August 2015. 
  41. ^ "HCL Tech extends lead over its peers in engg, R&D services". Business Line. 20 March 2012. Retrieved 28 August 2015. 
  42. ^ "HCL partners Tele2 to tap IoT opportunities". The Times of India. 28 August 2015. Retrieved 28 August 2015. 
  43. ^ "Prime Minister Announces 600 New Jobs for Armagh and Belfast". Invest NI. 8 September 2005. Retrieved 29 June 2016. 
  44. ^ Ribeiro, John. "India's HCL to add 600 staff in Northern Ireland". 
  45. ^ Fitzpatrick, Jim (16 February 2012), HCL won £18m contract from Department of Health, BBC, retrieved 10 June 2016 
  46. ^ "Power of One". 
  47. ^ "Project Samudhay: HCL to transform 100 villages with scalable models in health, sanitation". The Economic Times. 5 September 2014. Retrieved 31 August 2015. 
  48. ^ "Udayan Care". udayancare.org. Retrieved 24 February 2016. 
  49. ^ "Udayan Ghars Festive Season Celebrations". Udayan Care Sunrise. Retrieved 31 August 2015. 
  50. ^ "Sangita Kalanidhi award conferred on Madurai T.N. Seshagopalan". The Hindu. 16 December 2006. 
  51. ^ "HCL – The GO GREEN Initiative". Swasti Shipra. 
  52. ^ "GreenEdge Sustainability for Manufacturing-An HCL Point of View". 
  53. ^ "HCL Infosystems (HCL) is included in the global release of the 18th edition of the Greenpeace Guide to Greener Electronics for the first time, having only been included in Indian editions previously. With a score of 3.1, HCL shares 13th position with Sharp." (PDF). Green Peace. 
  54. ^ "Producer Responsibility for Electronic Waste is an important issue, says HCL". Sustainability Outlook. 28 May 2012. Retrieved 31 August 2015. 
  55. ^ "HCL Infosystems starts 'Green Bag' campaign". The Economic Times. 5 June 2009. Retrieved 31 August 2015. 
  56. ^ "HCL spreads awareness on safe disposal of e-waste". CXO Today. CXO Today. 21 May 2010. Retrieved 31 August 2015. 
  57. ^ "HCL unveils Green Datacenter Services". Money Control. Retrieved 31 August 2015. 
  58. ^ "HCL WEF". 
  59. ^ "2015 Aecus Innovation Awards". Aecus. Retrieved 1 September 2015. 
  60. ^ "HCL Technologies receives Best Governed Company Award by Asian Centre for Corporate Governance & Sustainability". Business Line. 8 January 2014. Retrieved 1 September 2015. 
  61. ^ "HCL Tech – HCL wins CNBC-TV18's India Business Leader Award for Outstanding Company of the Year". CNBC TV18. 14 January 2014. Retrieved 1 September 2015. 
  62. ^ "Infor and HCL Technologies Enter Strategic Partnership. Bloomberg Business" (PDF). Brand Finance. 
  63. ^ "The World's Most Influential Companies". Bloomberg Business. Retrieved 1 September 2015. 
  64. ^ "Outlook for Outsourcing Spending Brightens". The Wall Street Journal. 28 May 2009. 
  65. ^ "The WorldBlu List of Most Democratic Workplaces™". WorldBlu. 

External links[edit]