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What is the story about?
The technology industry is undergoing a “tectonic shift” as Artificial Intelligence reshapes the way work gets done, HCL Technologies’
chairperson Roshni Nadar Malhotra said, adding that the company sees AI as a key growth driver and an opportunity to accelerate business momentum.
HCLTech has always treated disruption as a catalyst for reinvention and growth, not as a threat, she said in HCLTech’s latest annual report.
“The technology industry is undergoing a tectonic shift as AI reshapes how work gets done, with its promise of agility and productivity…We see AI and its adjacent technologies as a powerful tailwind, one that will open larger opportunities and accelerate our growth,” she wrote.
HCL Group, which is celebrating its 50th anniversary this year, has evolved from founder Shiv Nadar’s vision of making India self-reliant in technology into a global institution representing the country’s technology sector, with its milestones ranging from developing India’s first indigenous 8-bit personal computer to delivering several industry-first innovations through HCLTech, she said.
The company’s story is one of “grit, conviction and resilience”.
“That resilience was tested in FY26. Against a backdrop of cautious technology services spending, macroeconomic uncertainty and geopolitical volatility, HCLTech delivered a solid operational performance,” she observed in the company’s annual report 2025-26.
For the third consecutive year, the company recorded the fastest revenue growth in constant currency among comparable peers, a result achieved in a muted demand environment and one that reflected the strength of a differentiated portfolio, ability to execute at scale and the commitment of its people.
“More importantly, we ended the year with $620 million in Advanced AI revenue, a measure of our fast-maturing AI play,” she said.
HCLTech Chairperson further noted that the company has set itself an ambitious goal of being the world’s best AI solutions provider.
“Our core engineering DNA, our early investments in intellectual property through HCLSoftware and our disciplined build-out of a full-stack AI portfolio alongside our services offerings position us well to pursue it. We are doubling down on this emerging play with conviction,” she said.
On shareholder value, she said sentiment across the sector has been cautious, and added that “near-term prices do not always reflect the fundamentals we are building”.
The underlying health of the business, be it the order book, client relationships and deal pipeline, remains strong for HCLTech, she asserted.
HCLTech CEO and Managing Director C Vijayakumar said that AI is opening up significant new business opportunities even as it transforms and reshapes old business models, and that companies leading the next decade will be those that can capitalise on AI’s potential while navigating the disruption it brings.
“We remain confident in our ability to execute our AI growth strategy and to continue creating long-term shareholder value, even as we recognise the headwinds that may arise from technology transformation and geopolitical uncertainty,” he said.
Vijayakumar highlighted that the company is optimistic about the AI-led opportunities ahead.
“The task before us is clear: to execute with speed and discipline and to earn our place among the winners in a market of this scale,” he added.
HCLTech has always treated disruption as a catalyst for reinvention and growth, not as a threat, she said in HCLTech’s latest annual report.
“The technology industry is undergoing a tectonic shift as AI reshapes how work gets done, with its promise of agility and productivity…We see AI and its adjacent technologies as a powerful tailwind, one that will open larger opportunities and accelerate our growth,” she wrote.
HCL Group, which is celebrating its 50th anniversary this year, has evolved from founder Shiv Nadar’s vision of making India self-reliant in technology into a global institution representing the country’s technology sector, with its milestones ranging from developing India’s first indigenous 8-bit personal computer to delivering several industry-first innovations through HCLTech, she said.
The company’s story is one of “grit, conviction and resilience”.
“That resilience was tested in FY26. Against a backdrop of cautious technology services spending, macroeconomic uncertainty and geopolitical volatility, HCLTech delivered a solid operational performance,” she observed in the company’s annual report 2025-26.
For the third consecutive year, the company recorded the fastest revenue growth in constant currency among comparable peers, a result achieved in a muted demand environment and one that reflected the strength of a differentiated portfolio, ability to execute at scale and the commitment of its people.
“More importantly, we ended the year with $620 million in Advanced AI revenue, a measure of our fast-maturing AI play,” she said.
HCLTech Chairperson further noted that the company has set itself an ambitious goal of being the world’s best AI solutions provider.
“Our core engineering DNA, our early investments in intellectual property through HCLSoftware and our disciplined build-out of a full-stack AI portfolio alongside our services offerings position us well to pursue it. We are doubling down on this emerging play with conviction,” she said.
On shareholder value, she said sentiment across the sector has been cautious, and added that “near-term prices do not always reflect the fundamentals we are building”.
The underlying health of the business, be it the order book, client relationships and deal pipeline, remains strong for HCLTech, she asserted.
HCLTech CEO and Managing Director C Vijayakumar said that AI is opening up significant new business opportunities even as it transforms and reshapes old business models, and that companies leading the next decade will be those that can capitalise on AI’s potential while navigating the disruption it brings.
“We remain confident in our ability to execute our AI growth strategy and to continue creating long-term shareholder value, even as we recognise the headwinds that may arise from technology transformation and geopolitical uncertainty,” he said.
Vijayakumar highlighted that the company is optimistic about the AI-led opportunities ahead.
“The task before us is clear: to execute with speed and discipline and to earn our place among the winners in a market of this scale,” he added.
