In first AGM as HCL Tech chairperson, Roshni Nadar Malhotra bets on digital transformation

The Covid-19 pandemic has changed the way entities operate, with organisations embracing technology like never before, said Roshni Nadar Malhotra in the first annual general meeting (AGM) held since she took over as chairperson of HCL Technologies in July. 

“The challenges in our external environment have created new demand for our products and services and we have seen growth in several areas, including infrastructure and cybersecurity services, ecommerce, digital marketing, and digital experience,” Malhotra said.

Digital transformation for our clients and within our enterprise will continue to drive our business agenda, the 38-year-old, who took over the position from her father Shiv Nadar to become the first woman to head a publicly traded Indian software company, said. 

Recounting 2019-2020 as a tale of two chapters, she said the first three quarters strengthened the company’s core business verticals such as banking and financial services, technology, life sciences and healthcare, while the second chapter was led by the Covid-19 pandemic, which accelerated digital transformation and led to new ways of working and opportunities. 

Going forward, the company will invest in improving its capabilities, attracting top talent and innovating for the future as it addresses the challenges and opportunities of a new world order, she said.

HCL has had the highest growth and CAGR over the past four years, with exceptional performance across all metrics in financial year 2019-20, she said.

Read: HCL revenue rises 1% in constant currency, Q1 profit up 32%

HCL’s Mode 1-2-3 strategy has been the “north star” in delivering balanced growth across their service line, vertical and geographical businesses and enabled it to perform at the top end of its revenue guidance and exceed the top end of its margin guidance for the year, she said.

As per the HCL website, the Mode 1-2-3 strategy helps the company future proof its customers’ businesses by deploying a three-point spotlight on the existing core of their business, new growth areas and the ecosystems of the future. 

In the current financial year, HCL has signed 53 transformational deals, while the number of clients in the $100 million-plus bracket has increased to 15, up from 10 in the previous year.

As part of her AGM speech, Malhotra highlighted that the headcount of employees in HCL’s New Vistas programme, under which the company has set up centres in cities such as Lucknow and Madurai, has risen 34% from the previous financial year.