HCL is a name we all recognise when it comes to the IT industry. Founded in 1976, this global IT services giant has come a long way – from creating India’s first 8-bit microcomputer to leading innovations in AI, cloud computing, and automation. Today, HCL Tech has a presence in over 60 countries. With a market cap of ₹5.34 lakh crore, it stands as the 3rd largest company in the Nifty IT Index. But what exactly is the story behind HCL’s success and what is the HCL full form?
Let’s dive into the HCL history!
HCL Tech History
The story of HCL Technologies Ltd kickstarted back in 1976 when eight engineers, led by Shiv Nadar, founded it as Microcomp Limited. The company’s goal was to make personal computers.
Let us take a look at the ‘great HCL History’, the company that has been ranked 3rd among the top 10 constituents of the Nifty IT Index.
In 1976, HCL was born when eight ambitious entrepreneurs decided to challenge the norms of their time. They envisioned a future where computing could transform the world, and thus, they thought of making personal computers.
By 1978, HCL had already achieved something remarkable. They launched their indigenously designed 8-bit microcomputer. This was a great move in the HCL Tech history, which came three years before the IBM PC and at the same time as Apple’s first release. This made computing more accessible to people in India.
In the year 1993 HCL started working on remote infrastructure management. They began with a groundbreaking contract to digitise the National Stock Exchange, which was the largest in Asia at that time.
In 1999, HCL boldly moved into the software services space, founding HCL Technologies. The public was quick to notice, as their IPO saw a massive 27X demand for shares.
2016 was a year of expansion, as HCLTech launched new business offerings across technologies like AI, automation, IoT, cybersecurity, cloud, and digital.
By 2018, HCLTech made another significant leap by returning to the products business. They acquired iconic IBM software brands like BigFix and AppScan. This was certainly another step in HCL’s history that made the company the fastest to hit $1 billion in product revenue.
In 2020, the company earned a spot on Forbes’ list of the World’s Best Employers, ranking at #30.
The next year, 2021, HCLTech made headlines for breaking a Guinness World Record. Their Better Health Hackathon, #CodeForCovid19, became the largest healthcare technology competition ever held.
In 2022, HCLTech received a major honour when The Economic Times named them Corporate Citizen of the Year.
2024 brought even more powerful strides for HCLTech. In October, they helped several global companies transform their businesses. A top global tech company chose HCLTech’s GenAI platform, AI Force, to streamline its operations and enhance customer experiences. Meanwhile, a leading biopharma company trusted HCLTech to manage its SAP services, with automation and GenAI playing a key role in improving efficiency and reducing costs.
In the financial sector, two major U.S. companies turned to HCLTech for cloud migration and enhanced risk management systems. Another company worked with HCLTech to upgrade its digital workplace, using AI to make services smarter and more efficient.
HCLTech also strengthened its relationship with a Fortune 50 telecom company, offering network services across 17 countries. Their expanded partnership with Xerox brought AI-driven engineering services, further driving continuous innovation.
In healthcare, HCLTech helped a top medical technology company modernise its software platforms and manage its digital engineering hub. They also partnered with a global semiconductor company to ensure the creation of high-performance chips.
Meanwhile, in the energy sector, HCLTech worked with a North American power company to transform its IT, finance, and customer services using advanced technology and automation. A European access management company also turned to HCLTech to improve its IT operations, cutting costs with automation and GenAI.
October 2024 proved once again that HCLTech is helping companies across the world scale up with smart technology and expert solutions.
About HCL Technologies Ltd
HCL full form is Hindustan Computers Limited
It is a leading global IT services company, ranked among the top five Indian IT firms by revenue. Since its global debut with an IPO in 1999, HCL Tech has been dedicated to transformational outsourcing.
HCL Technologies Limited offers software-driven IT solutions, remote infrastructure management, engineering and R&D services, and business process outsourcing (BPO).
Today, HCL Tech operates in over 60 countries and has a passionate team of more than 218,000 people. They specialise in areas like Digital, Engineering, Cloud, and Artificial Intelligence (AI), which help businesses deal with both today’s problems and future challenges.
From its early days, when HCL created the world’s first 8-bit computer, the company has served clients across the world.
The company is not only focused on making profits but also on creating value for communities and the world. They operate in over 210 locations and are growing quickly, especially in places like India, Eastern Europe, and Central America. With innovation labs and specialised centres, HCL Tech is helping businesses transform and providing cutting-edge solutions to clients everywhere.
- HCL Share Price- ₹1971 (As of Jan 2nd, 2024)
- HCL Owner- Shiv Nadar
- HCL Net Worth- ₹ 5,34,636 Cr. (As of Jan 2nd, 2024)
- HCL Capabilities-
| Application Management, EdTech, Cloud, Automation, Intelligent Operations, Business Process Operations, Internet of Things (IoT), Engineering, Commercial Apps / SaaS, Marketing Services, Cybersecurity, Networks, Data and AI, Operational Technology, Digital Design and Manufacturing Services, Product Engineering, Digital Engineering, Supply Chain, Digital Workplace, Unified Service Management (USM). |
- HCL Industries-
| Aerospace and Defense, Automotive, Consumer Goods, Energy and Utilities, Global Capability Center, Life Sciences and Healthcare, Manufacturing, Mining and Natural Resources, Oil and Gas, Public Sector, Retail, Technology, Telecom Media and Entertainment Services, Travel, Transport, Logistics & Hospitality, Financial Services, Banking |
- HCL Products-
| HCL Technologies offers products such as HCLTech Commerce, HCLTech Digital Experience, HCLTech Domino, HCLTech AppScan, HCLTech Accelerate, DRYiCE™, Actian, and Banking Transformation Platform, focusing on e-commerce, digital engagement, collaboration, security, automation, data management, and banking transformation. |
HCL Revenue in Q2 FY25
As per the latest data released by HCL Technologies Ld, HCL revenue reached ₹28,862 crores recently. The team had grown their earnings by 2.9% compared to the previous quarter and an impressive 8.2% year-over-year. In particular, their digital services grew by 7.8%. These digital solutions—cloud, AI, and cybersecurity—had become the lifeblood of many industries, and HCLTech was proudly leading the way.
Its EBIT (earnings before interest and tax) had climbed to ₹5,362 crores, marking an 11.8% growth from the last quarter and 8.7% from the year before. This meant that the company was not just earning more but also running its business more efficiently.
And on top of that, they earned a spot in BW Businessworld’s Top 50 Most Sustainable Companies 2024.
It isn’t just about profits—their journey continues with great contributions to society.
A Look at its CSR Efforts
HCLTech’s Corporate Social Responsibility (CSR) initiatives are all about lasting change through a combination of technology and community involvement.
Through their HCLFoundation in India, they focus on creating more equitable and sustainable communities by addressing poverty and restoring local environments. Around the globe, HCLTech employees contribute to CSR by tackling vital issues such as education, health, etc.
With over 5.5 million lives positively impacted in India, an investment of $139 million globally, and support for causes like the Global Ukraine Appeal, HCLTech is making a difference. Their CSR councils in 25 countries ensure that the company’s vision of social impact is truly a worldwide effort.
FAQs: HCL Technologies Ltd
HCL Technologies is a multinational IT services and consulting company based in India. They specialise in software, consulting, and outsourcing services to help businesses with their technology needs.
HCL stands for Hindustan Computers Limited.
HCL was founded in 1976 by Shiv Nadar and a team of engineers. It began by making personal computers and later expanded into software services.
The CEO of HCL Technologies is C Vijayakumar. He has been with the company for many years, leading its growth and expansion globally.
HCL started in 1976 when Shiv Nadar and his team sold teledigital calculators to fund their main product—personal computers, which laid the foundation for the company’s success.
Shiv Nadar’s daughter is Roshni Nadar Malhotra. She is a prominent businesswoman and philanthropist, and she plays a significant role in HCL’s future.
HCL was a startup founded in 1976. However, today, it has grown into a large multinational corporation with a major presence in the global tech market.
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