How do you see the pace of disruption of artificial intelligence that affects the IT industry, and what steps that you think are decisive to institutions to take to remain at the top of the curve and ensure that it does not protect only the base of its current revenue, but also adopts the transformative capabilities of Amnesty International?
C Vijayacomar: This is in fact not a time to be satisfied with it and say that we have seen the wave of the cloud, and we have seen the digital wave, and now there is an Amnesty International wave and we will transfer it because the pace of change and the importance of what artificial intelligence can do, and a lot of work. All service industry is very disrupted. Therefore, I really think that the IT industry is at a turning point and we should not be satisfied. If we are able to be more active in relying on changes, talk to our customers about what is possible art and we really walk in this path with this type of mentality and not mindset to protect your revenue base and protect your current imprint because if you do not, a person will do Another that.
You should be proactive about what this technology can offer to customers and this will not happen overnight. It will be a journey, but you have the correct proof points to build condemnation and you are going through this trip.
Then, it is the issue of managing change. How do you really lead this change within your organization and in your client organization to pay adoption and finally, the results of technology.
The next spirit of my question will be that if I look at the last waves, which are from centralization to the institution and from the institution to Smac and Smac to digital, and now, these transformations have lasted for three to four years and published this clarity in the sense appeared. The wave of artificial intelligence has already continued for three years, however there is no clarity. Is this wave different because the previous waves are focused on technology, and this wave focuses on the workforce?
C Vijayacomar: No, this is more intense technology. It is already a kind of taking a lot of productivity and I think this wave is completely different, more important and deep than any other waves we have seen. For example, you can classify it as an internet, you can say the cloud, then you can say it, you have digitization and now artificial intelligence. The comparison should be more towards the Internet and instead of digitization and cloud, because it was gradually benefiting for technology for commercial models and building pivotal business models on technology. But here, I mean, someone compared it to electricity. What electricity can do is unimaginable. Therefore, it is a long -term change that is complicated, it will expand, but humans, people can simplify it because in the end when you start consuming everything, it should be in a simple way and this is the journey of this industry needs to pass.
HCLTECH for the longest time the victory was on market estimates. They were growing at a rate higher than the average industry. It may not be your best hall in the industry, but your growth is the highest in the industry. Any change in this template or that policy will continue?
C Vijayacomar: Certainly we are all in the same industry and some change of business mix may mean different margin profiles. But the way we see is to offer low percentage points higher growth on stable margins that create a much larger value than the margin increase by 1 % or 2 % and provide lower growth. If you do mathematics, you will always discover that growth has a bonus, of course, on stable margins, I think this is the template that we followed and allows us to invest in what is true.
What is the right to remain relevant to your customers? Even today, I am sure that many investors always want to offer higher margins, but we do not offer higher margins, but we re -invest our sales or invest in all the right capabilities. Therefore, it is a balance that we must always achieve.
But every company like a traditional engineering company or a manufacturer will say that we are going through a Capex course. In the terms of information technology and HCLTECH, how long will this investment cycle continue? Is there a time frame you can present?
C Vijayacomar: It is not a CAPEX course because most of our ability and solution, all this is in fact, all of this is part of our operating expenses, and now there is a great opportunity that we all must create. Therefore, perhaps at least during the next three years, we will have to invest in all areas appropriate to survive.
It is more than growth and margins. You should be the biggest look at any leadership in this industry, are we relevant? Is our importance be interrogated? How can you remain related to all changes? If you approach it, you will end up doing the right thing in the long run.
With what rate do you think the total cultivated market for Indian IT companies such as Tam grows?
C Vijayacomar: See, if you take Gartner’s expectations in FY24, this was approximately 4-4.5 %. Gartner expects to go to 5 % or 6 %, depending on the service line you are talking about, so that the increase in total spending is. Now, you may ask why Indian companies have not growed much. There is some shrinkage in some markets and each company has its own challenges. But if you ask me, is there a great opportunity there? I would like to say yes. We only need to see how to translate it into growth.
The markets always vote for something simple, the change rate. If the rate of change in the past two years is from good to bad, the shares have decreased. When it becomes good bad, the markets will begin to reward it. Can I say that gradually and continuing now, we will see an improvement in your performance. It may not be marked, but in terms of path, slow but fixed. You will rise instead of survival or descending. Can I get a feeling?
C Vijayacomar: Yes, the way to view it is the total and second growth is the basic growth. Sometimes there may be some transformations in your wallet. There is a large contract transferred from the Bonn model to the marine model. There can be some shrinkage. But if you just peel the onions and look at the basic growth, this is already improving with every quarter.
So, will it be a long thing to imagine that Indian information technology companies or the Indian IT sector in itself will return to the growth of numbers?
C Vijayacomar: It is not a direct answer. But is there an opportunity? Yes. Can you be relevant? Can you be more aggressive in adopting new techniques and working with your customers, which shows them the art of possible? I think there is an opportunity for this industry.
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