On consolidated basis
Quarter
ended March 2024 compared with Quarter ended December 2023.
Net sales (including other operating income) of Tata Consultancy Services has
increased 1.08% to Rs 61237 crore.
Operating profit margin has jumped
from 27.05% to 28.03%, leading to 4.74% rise in operating profit to Rs
17,164.00 crore. Employee cost increased from 57.31% to 57.38%.
Other expenses fell from 15.64% to 14.59%. Software
technology development services cost rose from 1.94% to 2.55%.
Other income rose 34.22% to Rs 1157
crore. PBIDT rose 6.21% to Rs 18321 crore. Provision for
interest fell 1.74% to Rs 226 crore. Loan funds remained
nil.
PBDT rose 6.32% to Rs 18095
crore. Provision for depreciation rose 1.05% to Rs 1246
crore.
Profit before tax grew 6.73% to Rs
16,849.00 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 4347 crore, compared to
Rs 3732 crore. Effective tax rate was 25.80% compared to 25.17%.
Minority interest increased 74.36%
to Rs 68.00 crore. Net profit attributable to owners of the company
increased 12.44% to Rs 12,434.00 crore.
Promoters’ stake was 72.41% as of 31
March 2024 ,compared to 72.41% as of 31 December 2023 . Promoters
pledged stake was 0.48% as of 31 March 2024 ,compared to 0.48% as of 31
December 2023 .
Quarter ended March 2024 compared with Quarter ended March 2023.
Net sales (including other operating income) of Tata Consultancy Services has
increased 3.51% to Rs 61237 crore. Sales of Banking Finance
Insurance segment has gone up 0.58% to Rs 22,759.00 crore (accounting for
37.17% of total sales). Sales of Manufacturing segment has gone up
10.58% to Rs 6,137.00 crore (accounting for 10.02% of total
sales). Sales of Communication, Media and Technology segment has
gone up 6.14% to Rs 10,291.00 crore (accounting for 16.81% of total
sales). Sales of Others segment has gone up 9.55% to Rs 5,401.00
crore (accounting for 8.82% of total sales). Sales of Retail and
Consumer Packing Goods segment has gone up 1.21% to Rs 9,891.00 crore
(accounting for 16.15% of total sales). Sales of Life Sciences and
Healthcare segment has gone up 2.63% to Rs 6,758.00 crore (accounting for
11.04% of total sales).
Profit before interest, tax and
other unallocable items (PBIT) has jumped 8.81% to Rs 17,164.00
crore. PBIT of Banking Finance Insurance segment rose 7.43% to Rs
6,305.00 crore (accounting for 36.73% of total PBIT). PBIT of
Manufacturing segment rose 37.98% to Rs 2,100.00 crore (accounting for 12.23%
of total PBIT). PBIT of Communication, Media and Technology segment
fell 7.62% to Rs 2,669.00 crore (accounting for 15.55% of total
PBIT). PBIT of Others segment rose 19.85% to Rs 1,304.00 crore
(accounting for 7.60% of total PBIT). PBIT of Retail and Consumer
Packing Goods segment rose 5.59% to Rs 2,719.00 crore (accounting for 15.84% of
total PBIT). PBIT of Life Sciences and Healthcare segment rose
12.89% to Rs 2,067.00 crore (accounting for 12.04% of total PBIT).
PBIT margin of Banking Finance
Insurance segment rose from 25.94% to 27.70%. PBIT margin of
Manufacturing segment rose from 27.42% to 34.22%. PBIT margin of
Communication, Media and Technology segment fell from 29.80% to 25.94%. PBIT
margin of Others segment rose from 22.07% to 24.14%. PBIT margin of
Retail and Consumer Packing Goods segment rose from 26.35% to
27.49%. PBIT margin of Life Sciences and Healthcare segment rose
from 27.81% to 30.59%. Overall PBIT margin rose from 26.66% to 28.03%.
Operating profit margin has jumped
from 26.66% to 28.03%, leading to 8.81% rise in operating profit to Rs
17,164.00 crore. Employee cost increased from 56.94% to 57.38%.
Other expenses fell from 16.40% to 14.59%. Software
technology development services cost rose from 1.05% to 2.55%.
Other income fell 1.53% to Rs 1157
crore. PBIDT rose 8.09% to Rs 18321 crore. Provision for
interest fell 16.91% to Rs 226 crore. Loan funds rose to Rs 8,021.00
crore as of 31 March 2024 from Rs 7,688.00 crore as of 31 March
2023. Inventories stood at Rs 28.00 crore as of 31 March 2024 to Rs
28.00 crore as of 31 March 2023. Sundry debtors were higher at Rs
44,434.00 crore as of 31 March 2024 compared to Rs 41,049.00 crore as of 31
March 2023. Cash and bank balance rose to Rs 13,286.00 crore as of
31 March 2024 from Rs 11,032.00 crore as of 31 March
2023. Investments declined from Rs 37,163.00 crore as of 31 March
2023 to Rs 31,762.00 crore as of 31 March 2024.
PBDT rose 8.50% to Rs 18095
crore. Provision for depreciation fell 3.11% to Rs 1246
crore. Fixed assets declined from Rs 19,024.00 crore as of 31 March
2023 to Rs 18,826.00 crore as of 31 March 2024. Intangible assets
declined from Rs 2,725.00 crore to Rs 2,342.00 crore.
Profit before tax grew 9.47% to Rs
16,849.00 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 4347 crore, compared to
Rs 3955 crore. Effective tax rate was 25.80% compared to 25.70%.
Minority interest increased 54.55%
to Rs 68.00 crore. Net profit attributable to owners of the company
increased 9.15% to Rs 12,434.00 crore.
Equity capital decreased from Rs
366.00 crore as of 31 March 2023 to Rs 362.00 crore as of 31 March 2024
. Per share face Value remained same at Rs 1.00.
Promoters’ stake was 72.41% as of 31
March 2024 ,compared to 72.30% as of 31 March 2023 . Promoters
pledged stake was 0.48% as of 31 March 2024 ,compared to 0.48% as of 31 March
2023 .
Full year results analysis.
Net sales (including other operating income) of Tata Consultancy Services has
increased 6.85% to Rs 240893 crore. Sales of Banking Finance
Insurance segment has gone up 5.57% to Rs 90,928.00 crore (accounting for
37.75% of total sales). Sales of Manufacturing segment has gone up
10.62% to Rs 23,491.00 crore (accounting for 9.75% of total
sales). Sales of Communication, Media and Technology segment has
gone up 4.62% to Rs 39,391.00 crore (accounting for 16.35% of total
sales). Sales of Others segment has gone up 14.46% to Rs 20,981.00
crore (accounting for 8.71% of total sales). Sales of Retail and
Consumer Packing Goods segment has gone up 4.94% to Rs 39,357.00 crore
(accounting for 16.34% of total sales). Sales of Life Sciences and
Healthcare segment has gone up 8.70% to Rs 26,745.00 crore (accounting for
11.10% of total sales).
Profit before interest, tax and
other unallocable items (PBIT) has jumped 8.50% to Rs 64,296.00
crore. PBIT of Banking Finance Insurance segment rose 5.50% to Rs
23,574.00 crore (accounting for 36.66% of total PBIT). PBIT of
Manufacturing segment rose 24.41% to Rs 7,268.00 crore (accounting for 11.30%
of total PBIT). PBIT of Communication, Media and Technology segment
rose 2.35% to Rs 10,918.00 crore (accounting for 16.98% of total
PBIT). PBIT of Others segment rose 20.59% to Rs 4,673.00 crore
(accounting for 7.27% of total PBIT). PBIT of Retail and Consumer
Packing Goods segment rose 6.39% to Rs 10,252.00 crore (accounting for 15.95%
of total PBIT). PBIT of Life Sciences and Healthcare segment rose
10.40% to Rs 7,611.00 crore (accounting for 11.84% of total PBIT).
PBIT margin of Banking Finance
Insurance segment fell from 25.94% to 25.93%. PBIT margin of
Manufacturing segment rose from 27.51% to 30.94%. PBIT margin of
Communication, Media and Technology segment fell from 28.33% to 27.72%. PBIT
margin of Others segment rose from 21.14% to 22.27%. PBIT margin of
Retail and Consumer Packing Goods segment rose from 25.69% to
26.05%. PBIT margin of Life Sciences and Healthcare segment rose
from 28.02% to 28.46%. Overall PBIT margin rose from 26.28% to
26.69%.
Operating profit margin has jumped
from 26.28% to 26.69%, leading to 8.50% rise in operating profit to Rs
64,296.00 crore. Employee cost increased from 56.56% to 58.17%.
Other expenses fell from 17.15% to 15.14%. Software technology
development services cost rose from 0.83% to 1.54%.
Other income rose 28.21% to Rs 4422
crore. PBIDT rose 9.58% to Rs 68718 crore. Provision for
interest fell 0.13% to Rs 778 crore. Loan funds rose to Rs 8,021.00
crore as of 31 March 2024 from Rs 7,688.00 crore as of 31 March
2023. Inventories stood at Rs 28.00 crore as of 31 March 2024 to Rs
28.00 crore as of 31 March 2023. Sundry debtors were higher at Rs
44,434.00 crore as of 31 March 2024 compared to Rs 41,049.00 crore as of 31
March 2023. Cash and bank balance rose to Rs 13,286.00 crore as of
31 March 2024 from Rs 11,032.00 crore as of 31 March
2023. Investments declined from Rs 37,163.00 crore as of 31 March
2023 to Rs 31,762.00 crore as of 31 March 2024.
PBDT rose 9.71% to Rs 67940
crore. Provision for depreciation fell 0.74% to Rs 4985
crore. Fixed assets declined from Rs 19,024.00 crore as of 31 March
2023 to Rs 18,826.00 crore as of 31 March 2024. Intangible assets
declined from Rs 2,725.00 crore to Rs 2,342.00 crore.
Profit before tax grew 10.63% to Rs
62,955.00 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 15898 crore, compared
to Rs 14604 crore. Effective tax rate was 25.64% compared to 25.66%.
Minority interest increased 22.44%
to Rs 191.00 crore. Net profit attributable to owners of the company
increased 8.92% to Rs 45,908.00 crore.
Equity capital decreased from Rs
366.00 crore as of 31 March 2023 to Rs 362.00 crore as of 31 March 2024
. Per share face Value remained same at Rs 1.00.
Promoters’ stake was 72.41% as of 31
March 2024 ,compared to 72.30% as of 31 March 2023 . Promoters
pledged stake was 0.48% as of 31 March 2024 ,compared to 0.48% as of 31 March
2023 .
Cash flow from operating activities
increased to Rs 44,338.00 crore for year ended March 2024 from Rs 41,965.00
crore for year ended March 2023. Cash flow used in acquiring fixed
assets during the year ended March 2024 stood at Rs 2,674.00 crore, compared to
Rs 3,100.00 crore during the year ended March 2023.
Others:
Dividend: The board has declared dividend of Rs 28 per equity
share.
TCV (Total Contract Value) : The Company recorded order book of TCV
(total Contract Value) of US $ 13.2 in Q4FY2024. TCV for FY2024 stood at 42.7
billion.
Management Commentary:
K Krithivasan, Chief Executive Officer and Managing
Director, said: “We are very pleased to
close Q4 and FY24 on a strong note with the highest ever order book and a 26%
operating margin, validating the robustness of our business model and execution
excellence. In an environment of global macro uncertainty, we are staying close
to our customers and helping them execute on their core priorities with TCS’
portfolio of offerings, innovation capabilities and thought leadership.”
N Ganapathy Subramaniam, Chief Operating Officer and
Executive Director, said: “Our Q4 performance is robust, with broad based deal
wins across industries and geographies. Our products and platforms business
sparkled with the mega deal win at Aviva and emerging markets had another
stellar growth quarter demonstrating the power of TCS’ diversified
portfolio.”
Mr Samir Seksaria, Chief Financial Officer, said: “In FY
2024, our disciplined approach to operations have helped us expand our
industry-leading margins. In a challenging environment, we persisted with our
long-term investments in workforce reskilling, research and innovation. We will
continue to drive efficiencies and competitiveness to capture opportunities for
growth with profitability.”
Mr Milind Lakkad, Chief HR Officer, said: “We are pleased to
announce the annual increments for our workforce, as we have done consistently
every year, with top performers receiving double digit hikes. The reduced
attrition at 12.5%, enthusiastic response to our campus hiring, increased
customer visits and employees returning to the office have resulted in great
vibrancy in our delivery centres and elevated morale of our associates."
| Tata Consultancy Services : Consolidated Results | | | Quarter ended | Year ended |
|---|
| Particulars | 202403 | 202303 | Var.(%) | 202403 | 202303 | Var.(%) |
|---|
| Net Sales (including other operating income) | 61,237.00 | 59,162.00 | 3.51 | 2,40,893.00 | 2,25,458.00 | 6.85 | | OPM (%) | 28.03 | 26.66 | 137 bps | 26.69 | 26.28 | 41 bps | | OP | 17,164.00 | 15,774.00 | 8.81 | 64,296.00 | 59,259.00 | 8.50 | | Other Inc. | 1,157.00 | 1,175.00 | -1.53 | 4,422.00 | 3,449.00 | 28.21 | | PBIDT | 18,321.00 | 16,949.00 | 8.09 | 68,718.00 | 62,708.00 | 9.58 | | Interest | 226.00 | 272.00 | -16.91 | 778.00 | 779.00 | -0.13 | | PBDT | 18,095.00 | 16,677.00 | 8.50 | 67,940.00 | 61,929.00 | 9.71 | | Depreciation | 1246 | 1286 | -3.11 | 4985 | 5022 | -0.74 | | PBT | 16,849.00 | 15,391.00 | 9.47 | 62955 | 56907 | 10.63 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 16849 | 15391 | 9.47 | 62955 | 56907 | 10.63 | | EO Income | 0 | 0 | - | -958 | 0 | - | | PBT after EO | 16849 | 15391 | 9.47 | 61997 | 56907 | 8.94 | | Taxation | 4347 | 3955 | 9.91 | 15898 | 14604 | 8.86 | | PAT | 12502 | 11436 | 9.32 | 46099 | 42303 | 8.97 | | Minority Interest (MI) | 68 | 44 | 54.55 | 191 | 156 | 22.44 | | Net profit | 12434 | 11392 | 9.15 | 45908 | 42147 | 8.92 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 12434 | 11392 | 9.15 | 45908 | 42147 | 8.92 | | EPS (Rs)* | 34.37 | 31.49 | 9.15 | 128.85 | 116.49 | 10.61 | | | * EPS is on current equity of Rs 361.81 crore, Face value of Rs 1, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
|
| Tata Consultancy Services : Consolidated Segment Results | | | Quarter ended | Year ended |
|---|
| % of (Total) | 202403 | 202303 | Var.(%) | % of (Total) | 202403 | 202303 | Var.(%) |
|---|
| Sales | | Banking Finance Insurance | 37.17 | 22,759.00 | 22,628.00 | 0.58 | 37.75 | 90,928.00 | 86,127.00 | 5.57 | | Manufacturing | 10.02 | 6,137.00 | 5,550.00 | 10.58 | 9.75 | 23,491.00 | 21,236.00 | 10.62 | | Retail and Distribution | 0.00 | 0.00 | 0.00 | - | | Communication, Media and Technology | 16.81 | 10,291.00 | 9,696.00 | 6.14 | 16.35 | 39,391.00 | 37,653.00 | 4.62 | | Others | 8.82 | 5,401.00 | 4,930.00 | 9.55 | 8.71 | 20,981.00 | 18,331.00 | 14.46 | | Retail and Consumer Packing Goods | 16.15 | 9,891.00 | 9,773.00 | 1.21 | 16.34 | 39,357.00 | 37,506.00 | 4.94 | | Life Sciences and Healthcare | 11.04 | 6,758.00 | 6,585.00 | 2.63 | 11.10 | 26,745.00 | 24,605.00 | 8.70 | | Total Reported Sales | 100.00 | 61,237.00 | 59,162.00 | 3.51 | 100.00 | 2,40,893.00 | 2,25,458.00 | 6.85 | | Less: Inter segment revenues | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | Net Sales | 100.00 | 61,237.00 | 59,162.00 | 3.51 | 100.00 | 2,40,893.00 | 2,25,458.00 | 6.85 | | PBIT | | Banking Finance Insurance | 36.73 | 6,305.00 | 5,869.00 | 7.43 | 36.66 | 23,574.00 | 22,345.00 | 5.50 | | Manufacturing | 12.23 | 2,100.00 | 1,522.00 | 37.98 | 11.30 | 7,268.00 | 5,842.00 | 24.41 | | Retail and Distribution | 0.00 | 0.00 | 0.00 | - | | Communication, Media and Technology | 15.55 | 2,669.00 | 2,889.00 | -7.62 | 16.98 | 10,918.00 | 10,667.00 | 2.35 | | Others | 7.60 | 1,304.00 | 1,088.00 | 19.85 | 7.27 | 4,673.00 | 3,875.00 | 20.59 | | Retail and Consumer Packing Goods | 15.84 | 2,719.00 | 2,575.00 | 5.59 | 15.95 | 10,252.00 | 9,636.00 | 6.39 | | Life Sciences and Healthcare | 12.04 | 2,067.00 | 1,831.00 | 12.89 | 11.84 | 7,611.00 | 6,894.00 | 10.40 | | Total PBIT | 100.00 | 17,164.00 | 15,774.00 | 8.81 | 100.00 | 64,296.00 | 59,259.00 | 8.50 | | Less : Interest | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | Add: Other un-allcoable | | -315.00 | -383.00 | 17.75 | | -2,299.00 | -2,352.00 | 2.25 | | PBIT Margin(%) | | Banking Finance Insurance | | 27.70 | 25.94 | 176.64 | | 25.93 | 25.94 | -1.82 | | Manufacturing | | 34.22 | 27.42 | 679.53 | | 30.94 | 27.51 | 342.96 | | Retail and Distribution | | 0.00 | 0.00 | 0.00 | | Communication, Media and Technology | | 25.94 | 29.80 | -386.05 | | 27.72 | 28.33 | -61.28 | | Others | | 24.14 | 22.07 | 207.47 | | 22.27 | 21.14 | 113.35 | | Retail and Consumer Packing Goods | | 27.49 | 26.35 | 114.15 | | 26.05 | 25.69 | 35.68 | | Life Sciences and Healthcare | | 30.59 | 27.81 | 278.04 | | 28.46 | 28.02 | 43.90 | | PBT | 100.00 | 16,849.00 | 15,391.00 | 9.47 | 100.00 | 61,997.00 | 56,907.00 | 8.94 |
|
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