Q1 2027 HCL Technologies Ltd Earnings Call Transcript
Key Points
- HCL Technologies Ltd (BOM:532281) reported a significant increase in advanced AI revenue, with a 10.3% QoQ and 62.1% YoY growth.
- The company achieved its highest ever Q1 bookings with net new TCV bookings of $2.4 billion, excluding a mega deal signed in early July.
- HCL Technologies Ltd (BOM:532281) completed the acquisition of JasperSoft, enhancing its data management portfolio with a visualization layer.
- The company reported a 3.3% year-over-year increase in revenue per employee, marking consistent growth over the last five quarters.
- HCL Technologies Ltd (BOM:532281) maintained a strong balance sheet with gross cash of $2.86 billion and net cash of $2.84 billion as of June 30, 2026.
- The company's revenue declined by 0.5% sequentially, and its services business declined by 0.7% sequentially in constant currency.
- HCL Software revenue declined by 5.3% year-on-year, despite a 2.2% sequential growth.
- The company experienced a decrease in its workforce, with a reduction of 3,292 employees compared to the previous quarter.
- The Engineering and R&D Services segment saw a 3.7% sequential decline.
- HCL Technologies Ltd (BOM:532281) faced challenges in the telecom and high-tech sectors, impacting its R&D segment.
(audio in progess) HCL Technologies Q1 FY27 earnings conference call. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Nitin Mohta, Head Investor Relations. Thank you and over to you, sir.
Thank you, Darwin. Good morning, and good evening, everyone. A very warm welcome to HCL Tech's Quarter 1 FY27 Earnings Conference Call. We have with us Mr. C. Vijayakumar, CEO and Managing Director at HCL Tech; Mr. Shiv Walia, Chief Financial Officer, along with the broader leadership team to discuss the performance of the company during the quarter, followed by a Q&A.
In the course of this call, certain statements that will be forward looking, which involve a number of risks, uncertainties, assumptions and other factors that could cause actual results to differ materially from those in such forward-looking statements. All forward-looking statements made herein are based upon information presently
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