HCL Technologies - Hcl Technologies

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. HCL Technologies (an acronym for Hindustan Computers Limited) offers services including IT consulting, enterprise transformation, remote infrastructure management, engineering and R&D, and business process outsourcing (BPO).

The company has offices in 34 countries including the United States, European countries like France and Germany, and Northern Ireland 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.

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

History

Formation and early years

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.

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. HCL TalentCare is the fourth and latest venture of HCL Corporation.

HCL Technologies began as the R&D Division of HCL Enterprise, 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, and a networking OS and client-server architecture in 1983. 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. The name was changed to HCL Consulting Limited on 14 July 1994. On 6 October 1999, the company was renamed 'HCL Technologies Limited' for a better reflection of its activities. Between 1991 and 1999, the company expanded its software development capacities to the US, European and APAC markets.

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

Acquisitions

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.

Operations

Most HCL Technologies offices are not in the USA, but it does operate in 34 countries, 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, 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

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

HCL in United Kingdom and Northern Ireland

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. HCL BPO services in Ireland are carried out through its main delivery centres in Armagh and Belfast. 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.

Corporate social responsibility

Community initiatives

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

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

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

Environment initiatives

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

In addition, it is also:

• the first Indian ICT manufacturer to launch RoHS compliant laptops.
• the first to launch a PVC & BFR free laptop in India.
• the first Indian company to offer Antimony and Beryllium free laptop.
• the first Indian ICT company to initiate a green bag Campaign and voluntarily recycle the accumulated e-waste in an environmentally friendly manner.
• an active member of India Council for Sustainable Development (ICSD).
• one of the strategic partners of the World Economic Forum (WEF), contributing to WEF's Strategy and Government Affairs meetings on the contribution of the Information and communications industry to managing climate change.

Honours

Awards

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

Recognition

• 2015 â€" Among the Top 10 Indian Brands by Brand Finance
• 2015 â€" Among The World's Most Influential Companies by Bloomberg Businessweek
• 2009 â€" Top 10 Outsourcers by The Wall Street Journal
• 2008 â€" 2012 â€" Among the Most Democratic Workplaces in the world by WorldBlu