Geopolitical and macro uncertainty could impact discretionary spending
Management cited geopolitical factors and global economic conditions as potential headwinds, and noted that discretionary spending can turn quickly.
HCLTECH / Q2-FY25 / risks
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HCLTech · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
high
Pressure in automotive and aerospace verticals
Automotive, especially in Europe, is under stress with program cancellations; aerospace may also see impact from client-specific issues.
Furloughs and seasonal weakness in H2
Management assumes similar furloughs as last year, which could limit sequential growth in Q3 and Q4.
Headcount decline despite revenue growth
Net headcount declined even as revenue grew, raising questions about scalability and future hiring needs.