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HCL Annual Report

Analysis
Mansi Saini
Mehak Jain
M d . Ta r i q
Harsh

Company Profile
Company Name

HCL Technologies Ltd.

Corporate Identity No.

L74140DL1991PLC046369

Company Type

Global IT Company

Service Areas

Software, Infrastructure and BPO

Date of Establishment

November 12, 1991

Chairman and Chief Strategy Officer

Shiv Nadar

President & CEO

Anant Gupta

CFO

Anil Chanana

Employee Strength

107,968 on 30thJune 2016

Offices

Offices in 32countries

Geographies

USA, Europe, Asia Pacific and Japan

Consolidated Revenues

US$ 6.4 bn, for 12 Months Ended 30th


June, 2016

Balance sheet

s.n
o

(Assets)

PARTICULAR

1.

Non-current assets

Note
No.

As at
June 30,
2015

S.n
o

(Liabilities)

1.

Shares holders funds

(A) Fixed Assets


(1) Tangible Assets

2.10

3,403.69

(2) Intangible Assets

2.10

4,871.58

(3) Capital work in progress

PARTICULAR

Note no.

As at
June 30,
2015

(A) Share capital

2.1

281.20

(B) Reserves and surplus

2.2

23,943.19
24,224.36
9

551.52

2.

Share application money pending allotment

8,826.7
9

3.

Minoity interest

4.

Non current liabilities

2.3

82.11

(B) Non-current Investment

2.11

106.81

(C) Deferred tax Assets (net)

2.12

789.71

(A) Long term borrowings

2.4

167.89

(D) Long Term Loans and Advances

2.13

1,442.19

(B) Other long term liabilities

2.5

614.57

(E) Other Non- current assets

2.14

1,032.37

(C) Long term provisions

2.6

210.64

12,197.
87
2.

0.02

Current Assets

993.10
5.

Current liabilities

(A) Current Investment

2.11

762.58

(A) Short term borrowings

2.7

355.48

(B) Inventories

2.15

157.61

(B) Trade payables

2.8

625.41

Cash Flow

PARTICULAR

Year Ended
30 June
2015

(A) Cash Flow from operating activities


Net Cash flow from operating activities (A)

5,539.20

(B) Cash Flow from investing activities


Net Cash flow used in investing activities (B)

(2,013.51)

(C) Cash Flow from Financing Activities


Net Cash flows used in Financing Activities (C)
Net Increase in cash and cash equivalents (A+B+C)

(3,140.34)
385.35

Effect of exchange differences on cash equivalents held in foreign


currency

(74.06)

Cash and cash equivalents at the beginning of the year

1,027.23

Cash and cash equivalents at the year as per note 2.17 (a) (refer
note below)

1,338.52

Profit and Loss


Statement

PARTICULAR

NOTE
NO.

PARTICULAR

(EXPENSES)

Year Ended
JUNE 30,
2015

Purchase of traded goods

13, 306.38

Change in inventories of traded goods

2.22

(35.65)

Employee benefits expense

2.23

17,726.43

Finance costs

2.24

91.23

Depreciation and amortization expense

2.10

403.75

Other expenses

2.25

9,231.48

Total expenses

28,723.62

Profit before tax

9,117.06

Tax expense
Current tax

2,128.42

MAT credit entitlement

(311.95)

Deferred Tax credit

(1.36)

Total tax expense

1,815.11

Profit after tax & before minority interest / share of profit (loss) of
associates

7,301.95

Share of profit of associates

39.90

NOT
E NO.

Year Ended
JUNE 30,
2015

Revenue from Operations

2.20

36,701.22

Other Income

2.21

1,139.46

(INCOME)

Policies
I N V E N T O RY
D E P R E C I AT I O N
REVENUE RECOGNITION

1. Inventories
Stock in trade, stores and spares are valued at the lower of the cost or net realizable value. Net realizable value.
Net realizable value is the estimated selling price in the ordinary course of business, less estimated costs of
completion and estimated costs necessary to make the sale.
Cost of stock in trade procured for specific projects is assigned by identification of individual costs of each item.
Cost of stock in trade, that are interchangeable and not specific to any project and costs of stores and spare parts
are determined using the weighted average cost formula.

2. Revenue recognition
Revenue is recognized to the extent that it is probable that the economic benefits will flow to the group and the
revenue can be reliably measured. Revenue from sale of goods and rendering of services is recognized when risk
and reward of ownership have been transferred to the customer, the sale price is fixed or determinable and
collectability is reasonably assured.

Depreciation on Tangible Fixed Assets.


Depreciation on tangible assets is provided on the straight line method over their estimated useful life as determined by
the management. Depreciation charge on a pro-rata basis for assets purchased/sold during the year. The management
estimate of the useful life of various tangible fixed assets for computing depreciation are as follow:

Life (in year)


Land-leasehold

Over the period of lease


(up
to maximum of 99 years)

Building
Plant & machinery (including air
conditioners,
Electrical installations and aircraft)
Office equipment
Computers

20
10 to 17

5
4-5

Furniture and fixtures

Vehicle owned

Vehicle leased

over the period of lease or 5 years, whichever is lower

Leasehold improvements

over the remaining period of lease or 4 years, whichever is


lower

Components of
Annual Report

Director
On a standalone basis, the company achieved revenue of Rs. 18,352.94 cr in the financial year 2014-15 as
compared to Rs. 17,156.49 cr in the financial year 2013-14, registering a growth of 6.97%. The profit for the
financial year 2014-15 is Rs. 6,345.95 cr as compared to Rs. 5,984.62 cr in financial year 2013-14,
registering a growth of 6.04%.
On a consolidated basis, the company achieved revenue of Rs. 37,840.68 cr in the financial year 2014-15 as
compared to Rs. 32,821.06 cr in the financial year 2013-14, registering a growth of 15.29%. The profit for
the financial year 2014-15 is Rs. 7,317.07 cr as compared to Rs. 6,509.51 cr in financial year 2013-14,
registering a growth of 12.41%.
The state of affairs of the company is presented as part of management Discussion and Analysis Report
forming forming part of this Report.
In accordance with the companies Act, 2013 (the Act) and Accounting Standard (AS) 21 on consolidated
Financial Statements read with AS-23 on Accounting for investments in Associates and AS-27 on financial
Reporting of interest in Joint Venture, the audited consolidated financial statement is provided in the Annual
Report.

Learnings from Report


Contingent liabilities
A contingent liability is a possible obligation that may arise from past events
whose existence will be confirmed only by the occurrence or non-occurrence
of one or more uncertain future events beyond the control of the company or
a present obligation that is not recognized because it is not probable that an
outflow of resources will be required to settle the obligation. A contingent
liability also arise in extremely rare cases where there is a liability that
cannot be recognized because it cannot be measured reliably; the company
does not recognize a contingent liability but discloses its existence in the
financial statements.

Foreign currency translation


1. Initial Recognition
Foreign currency transactions are recorded in the reporting in the reporting currency, by
applying to the foreign currency amount, the exchange rate between the reporting currency
and the foreign currency, at the date of the transaction.
2. Conversion
Foreign currency monetary items are reported using the closing rate. Non-monetary items
which are carried in terms of historical cost denominated in a foreign currency are reported
using the exchange rate at the date of the transaction.
3. Exchange Differences
Exchange differences arising on the settlement of monetary items, or on reporting such
monetary items at rate different from those at which they were initially recorded during the
year, or reported in previous financial statements are recognized as income or expense in the
statement of profit and loss in the year in which they arise.

Thank You