HCL Technologies Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2018

1. The consolidated and the standalone financial results for the quarter and year ended 31 March 2018 were approved by the Audit Committee and have been approved and taken on record by the Board of Directors at its meeting held on 2 May 2018.
2. The Board of Directors at its meeting held on 2 May 2018 has declared an interim dividend of Rs. 2 per share.
3. Financial results for all the periods presented have been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (as amended from time to time) prescribed under Section 133 of the Companies Act, 2013 and other recognised accounting practices and policies to the extent applicable.
4. As per Ind AS 108 'Operating Segments’, the Company has disclosed the segment information only as part of the consolidated financial results.
5. Tax expense for the quarter and year ended 31 March 2017 is after taking effect of reversal of tax provisions of Rs. 334 crores and Rs. 229 crores in consolidated and standalone statement of profit and loss respectively relating to prior years primarily on account of completion of review by tax authorities in certain jurisdictions and is not comparable with current quarter.

6. a) On 6 April 2018, the Company through a wholly owned subsidiary has entered into an agreement to acquire 100% shareholding of Telerx Marketing, Inc. (doing business as C3i Solutions), a provider of Multi-channel customer engagement services for the life sciences and consumer packaged goods (CPG) industries for the purchase consideration of Rs. 391 crores (USD 60 million) payable in cash. With this acquisition, the Company will complement its broad-based IT and business services capability with the additional depth that C3i has in the life sciences and CPG verticals.

b) On 12 April 2018, the Company and Sumeru Equity Partners (SEP), a technology and growth-focused private equity firm, have signed a definitive agreement to acquire Actian Corporation, a provider of a hybrid data management. The all-cash deal is valued at Rs. 2151 crores (USD 330 million). The Company will own 80% and SEP will own 19.5% stake of Actian Corporation while balance 0.5% stake will be held by Actian CEO. The acquisition is proposed to be funded through mix of Equity and Debt where the Company, SEP and Actian CEO will be contributing Rs. 1,069 crores (USD 164 million), Rs. 261 crores (USD 40 million) and Rs. 6 crores (USD 1 million) respectively and balance amount through debt of Rs. 815 crores (USD 125 million) to be contributed by the Company. The acquisition is part of the Company’s strategy to augment its capabilities in the data management products and platforms."
7. The figures of the last quarter are the balancing figures between audited figures in respect of the full financial year up to 31 March 2018 and the unaudited published year-to-date figures up to 31 December 2017 being the date of the end of the third quarter of the financial year which were subjected to a limited review.

8. The Company has changed its presentation from “Rs. in crores upto two decimals” to “Rs. in crores”. Accordingly, the figures of previous periods/year have been rearranged to conform to the current period presentation.