The Noida-based information technology major does not expect the outbreak of the virus to have a 'significant' impact on its business. Its sales are a mix of recurring product revenues, managed services and discretionary spend-led professional services, which will limit the impact.
Exposure to verticals such as oil and gas, travel and hospitality, and high-end retail--which are among the most impacted--is in single digits, the company said. "We recognize our investments in risk management systems and processes over the last several years are helping us to minimise the short-term impact and to be adequately prepared for the medium term, if it gets worse," it said in a statement on Monday.
About 76% of the company's employees are based in the country, and 92% of its employees in other countries have been enabled to work from their homes. "It is noteworthy that we have not witnessed any outages or major disruption in operations with this newer format of work from home delivery," the company said. Reacting to the statement, shares of HCL Technologies briefly extended gains.