Held on Monday, February 02, 2009 at the Taj Krishna in Hyderabad, India
S. Mahalingam, Executive Director and Chief Financial Officer and Kedar Shirali, Director - Investor Relations, Tata Consultancy Services, met with investors at the DSP Merrill Lynch 13th India Investors' Conference held at the Taj Krishna in Hyderabad, India. Later that day, Mr Mahalingam gave a presentation on TCS' strategies for long-term growth to a gathering of over 60 investors followed by a Q&A session.
The next afternoon, S. Ramadorai, Chief Executive Officer and Managing Director, delivered the keynote address. Assuring investors of the continued soundness of investing in India, particularly in the context of a global slowdown with only a few economies - India and China for instance - continuing to show good growth, Mr Ramadorai spoke about how the Indian IT industry has been at the forefront in transparency, disclosure and adoption of global accounting standards - ahead of their MNC counterparts - and the need to reiterate these facts to investors shaken by recent events. He then covered at length the corporate governance at TCS and the core values of the Tata group on which they are based.
Speaking on the difficult business environment at present, Mr Ramadorai reassured investors that these are the normal ups and downs of business cycles and went on to describe various growth avenues even in this bleak economic environment. "The downturn has brought back into fashion the need to go back to basics, to focus on operational efficiency, building people, building excellence," he said and predicted that the Indian IT industry would come out of this period stronger, leaner and more efficient.
Click here for the full text of Mr Ramadorai's speech.