Investments in Digital, Platforms, Automation provides ideal growth springboard for FY16
Annual Highlights for 2014-15 |
Highlights for 4th Quarter 2014-15 |
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MUMBAI, April 16, 2015: Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS), a leading IT services, consulting and business solutions firm reported its consolidated financial results according to IFRS for the quarter and financial year ended March 31, 2015.
Commenting on the performance in 2014-15, N Chandrasekaran, CEO and MD said: “We are living in a world where technology is not just becoming integral to business but to our daily lives. TCS is playing a leading role in this ongoing revolution, helping our clients navigate and leverage Digital to help grow their businesses. Our deep relationships with our customers, our domain expertise and strong rigor in operations have helped us continue to show growth leadership in FY15.”
Looking forward to financial year 2015-16, Mr Chandrasekaran added: “We have laid a strong foundation for growth in FY16. Our investments in Platforms, Digital and Automation are gaining traction with clients and together with our market investments in USA, Europe and Japan, we are upbeat that the coming quarters will bring more opportunities to partner with customers across multiple industries. We remain focused on remaining relevant to our customers, our employees and the community.”
Rajesh Gopinathan, Chief Financial Officer, said: “We have maintained our profitability in a challenging operating environment, where currency has been a strong headwind for some time. Despite these and other macro challenges, our goal has been to support business growth while ensuring we continue to invest in a calibrated fashion for the future.”
There was holistic growth across markets and industries during the financial year. Europe led growth in major markets, while UK and North America continue to grow in line with the company average. All major industry verticals grew in double digits led by Retail, Manufacturing, Life Sciences & Healthcare and BFSI during FY15.
Key Digital Wins in Q4
Key Wins in Q4
Human Resources:
“During FY15, we have trained and integrated over 67,000 professionals who joined and with business demand continuing to be robust, we have made 25,000 offers on engineering campuses for trainees who will join us from the second quarter of the new fiscal year.” said Ajoy Mukherjee, Executive Vice President, Head, Global Human Resources. “Our attempts to build a next-gen organization that is social, mobile, engaged and collaborative continues at great speed and we are extending the model of using social and platform based collaboration tools to connect with students from colleges across India and globally.”
TCS also crossed the milestone of employing over 100,000 women in FY15 with gender diversity of 33% as well as 122 nationalities represented in its global workforce.
Innovation and Intellectual Property:
As of March 31, 2015, the company has applied for 2277 patents including 173 applied during the quarter. Till date, the company has been granted 206 patents.
Awards and Recognition
Business Leadership:
Partner:
Sustainability:
TCS received Top IT/ITES Exporter and CSR award for Community Development & Environment Protection from HYSEA (Hyderabad Software Enterprises Association)
Leadership:
N Chandrasekaran:
Unaudited Condensed Consolidated Statements of Comprehensive Income
For the years ended March 31, 2014 and 2015
(In millions of USD, except per share data)
|
Year ended March 31, 2014 |
Year ended March 31, 2015 |
|
Ex Adj* |
Reported |
||
Revenue |
13,442 |
15,454 |
15,454 |
Cost of revenue |
7,079 |
8,577 |
8,894 |
Gross margin |
6,363 |
6,877 |
6,560 |
SG & A expenses |
2,457 |
2,727 |
2,833 |
Operating income |
3,906 |
4,150 |
3,727 |
Other income (expense),net |
264 |
512 |
512 |
Income before income taxes |
4,170 |
4,662 |
4,240 |
Income taxes |
996 |
1,086 |
994 |
Income after income taxes |
3,174 |
3,576 |
3,246 |
Minority interest |
35 |
35 |
33 |
Net income |
3,139 |
3,541 |
3,212 |
Earnings per share in $ |
1.60 |
1.81 |
1.64 |
Unaudited Condensed Consolidated Statements of Comprehensive Income
For the three-month periods ended
March 31, 2014, December 31, 2014 and March 31, 2015
(In millions of USD, except per share data)
|
Three-month period ended March 31, 2014 |
Three-month period ended December 31, 2014 |
Three-month period ended March 31, 2015 |
|
Ex Adj* |
Reported |
|||
Revenue |
3,503 |
3,931 |
3,900 |
3,900 |
Cost of revenue |
1,863 |
2,168 |
2,179 |
2,496 |
Gross m argin |
1,640 |
1,763 |
1,722 |
1,404 |
SG & A expenses |
619 |
700 |
660 |
766 |
Operating income |
1,021 |
1,063 |
1,061 |
638 |
Other income (expense), net |
114 |
101 |
182 |
182 |
Income before income taxes |
1,135 |
1,164 |
1,243 |
820 |
Income taxes |
265 |
280 |
286 |
194 |
Income after income taxes |
870 |
884 |
957 |
627 |
Minority interest |
9 |
11 |
6 |
5 |
Net income |
861 |
873 |
951 |
621 |
Earnings per share in $ |
0.44 |
0.45 |
0.49 |
0.32 |
Unaudited Condensed Consolidated Statements of Financial Position
As of March 31, 2014 and March 31, 2015
(In millions of USD)
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As of March 31, 2014 |
As of March 31, 2015 |
|
Ex Adj* |
Reported |
||
Property and equipment |
1,726 |
1,849 |
1,849 |
Intangible assets and Goodwill |
692 |
628 |
628 |
Accounts Receivable |
3,035 |
3,266 |
3,266 |
Unbilled Revenues |
667 |
612 |
612 |
Investments |
576 |
280 |
280 |
Cash and Cash equivalents |
245 |
298 |
298 |
Other current assets |
3,012 |
3,399 |
3,399 |
Other non current assets |
1,520 |
1,619 |
1,645 |
Total Assets |
11,473 |
11,951 |
11,978 |
Shareholders' Funds |
9,213 |
9,515 |
9,185 |
Long term borrowings |
21 |
18 |
18 |
Short term borrowings |
28 |
39 |
39 |
Other current liabilities |
1,816 |
1,947 |
2,306 |
Other non-current liabilities |
280 |
286 |
284 |
Minority Interest |
115 |
147 |
146 |
Total Liabilities |
11,473 |
11,951 |
11,978 |
About Tata Consultancy Services Ltd (TCS)
Tata Consultancy Services is an IT services, consulting and business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT, BPS, infrastructure, engineering and assurance services. This is delivered through its unique Global Network Delivery Model™, recognized as the benchmark of excellence in software development. A part of the Tata group, India’s largest industrial conglomerate, TCS has over 310,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $13.4 billion for year ended March 31, 2014 and is listed on the National Stock Exchange and Bombay Stock Exchange in India. For more information, visit us at www.tcs.com.
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