Founder of HCL Technologies, Shiv Nadar is the 3rd richest person in India
Shiv Nadar is the world’s 47th richest person
Shiv Nadar has a net worth of $ 24.1 Billion, according to Forbes. He is a founder of HCL Technologies Limited which is India’s 3rd largest IT company after TCS and Infosys. The company has a market capitalisation of Rs 2,70,281 crore. The company is listed on both major exchanges, NSE and BSE.
Shiv founded the company in 1976. He initially started HCL technologies as an IT hardware firm and then soon transformed it into an IT enterprise service provider. The company operates in 52 different countries with 208,000 plus employees.
Shiv Nadar left his position as a chairman of the company two years back in 2020 to let his daughter, Roshni Nadar Malhotra be the current chairperson of the company.
Back in 2008, Shiv Nadar was awarded by the Government of India the ‘Padma Bhushan’ award for being the pioneer in the IT industry in the country.
Talking about the recent news about the company, HCL Technologies opened a new global delivery centre in Vancouver, Canada. The new facility will employ 2,000 new people.
The company has excellent financials. The company reported revenue and a net profit of Rs 85,650 crore and Rs 13,500 crore, respectively, for FY22. The company has delivered 10-year median revenue growth of 16.96%. The company also has a strong balance sheet. HCL has zero debt and has an ROE and ROCE of 22.2% and 25.6%, respectively, as of the FY22 period ending.
In the last 9 months, the stock has underperformed the market, falling almost twice the market. S&P BSE Sensex dropped by 14.6%, while the stock fell more than 27% from its 52-week high of Rs 1377 which is set back in September 2021.
Talking about the valuations, the stock is trading at 20.2x PE. The shares of HCL Technologies were trading 1.08%, up and closed at Rs 1002.55 on June 28.
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