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    TCS is here to make a difference through technology.

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      15 May 2025 TCS Recognized as One of the World’s Top 50 Brands by Kantar BrandZ; Brand Value Soars 28% YoY to $57.3Bn
      14 May 2025 TCS Partners with Khan Bank to Future-Proof its Operations, Enhance Customer Experience and Propel Innovation leveraging AI and ML
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      TCS is here to make a difference through technology.

      Leading the way in innovation for over 55 years, we build greater futures for businesses across multiple industries and 55 countries.

      Discover all solutions
    • Industries
      • Banking
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      • Consumer Packaged Goods and Distribution
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      22 May 2025 TCS to Steer Cloud Migration Program for Finnish Telecom Leader DNA in a Five-Year Partnership
      15 May 2025 TCS Recognized as One of the World’s Top 50 Brands by Kantar BrandZ; Brand Value Soars 28% YoY to $57.3Bn
      14 May 2025 TCS Partners with Khan Bank to Future-Proof its Operations, Enhance Customer Experience and Propel Innovation leveraging AI and ML
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      02 May 2025 TCS Ranked Denmark’s #1 IT Service Provider for Customer Satisfaction in 2025
      23 Apr 2025 TCS Partners with Google Cloud on Agent-to-Agent Interoperability Protocol to Drive Future-Ready Enterprises
      11 Apr 2025 TCS Partners with Google Cloud to Accelerate AI-led Transformation in the Retail Sector
      View all
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      16 May 2025 TCS Recognized as a Leader in Custom Application Development Services by Everest Group
      16 May 2025 TCS Named a Leader in Application Management Services by Everest Group
      22 Apr 2025 TCS Ranked #6 Amongst Banking Technology Providers and Recognized as a Regional Leader across all Geographies by Everest Group
      View all
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      11 Jun 2025 TCS and PTC Present the North America Leadership Forum 2025
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    • PRESS RELEASE

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    TCS Closes FY20 with Strong Deal Wins: Augurs Long Term Resilience Amidst Near Term Challenges

     

    • Annual Revenue $22.031 Bn, +5.3% YoY (+7.1% in CC)

    • Full Year Growth led by Life Sciences & Healthcare (+16.8% YoY), Europe (+14.6% YoY) and UK (+10.4% YoY)

    • Full Year Net Income: $4.541 Bn, +1.1% YoY

    • Q4 Total Contract Value: $8.9 Bn

    MUMBAI, April 16, 2020: Tata Consultancy Services (BSE: 532540, NSE: TCS), the leading global IT services, consulting and business solutions organization, reported its consolidated financial results according to Ind AS and IFRS, for the quarter and financial year ending March 31, 2020.

    Annual Highlights for 2019-20

    Q4 FY 2020 Highlights

    • Operating Margin: 24.6%; Net Margin: 20.6%

    • Robust Client Additions:

    $100M+ band: 49 (+5 YoY)

    $50M+ band: 105 (+6 YoY)

    $20M+ band: 240 (+25 YoY)

    • Employee Metrics:

      • Net addition: 24,179 employees

      • Employee headcount: 448,464

      • LTM IT Services Attrition: 12.1%

    • Free Cash Flow: $4.54 Bn

    • Over $5.294 Bn of cash returned to shareholders in dividends

    • Revenue of $5.444 Bn, +0.9% YoY (+3% in CC)

    • Operating Margin: 25.1%

    • Net Income: $1.096 Bn; Net Margin: 20.2%

    • Cash conversion: Operating Cash Flow 109.4% of Net Income

    • Net Addition: 1,789 employees

    • Final Dividend per share (proposed): ` 6

     


    Rajesh Gopinathan, Chief Executive Officer and Managing Director, said: “Amidst the tumult of the last few weeks, our priority has been to safeguard the health and well-being of our employees while continuing to support our customers’ mission critical activities globally. The agility, resilience and adaptability of our operating model were put to the test, and it has emerged stronger and more proven than ever before. This has further strengthened our customers’ confidence in TCS. Many of them have reached out to us to express their appreciation, and gratitude for how our teams went above and beyond to help them keep their businesses running under very difficult circumstances. I want to thank all the TCSers who showed immense grit, resolve and ingenuity, in the true spirit of TCS, to make this possible.”

    He added: “The pandemic completely reversed the positive momentum that we had started seeing in some of our biggest verticals in the first half of the quarter. On the positive side, we had very strong deal closures during the quarter. In fact, our order book this quarter is the largest ever, from the time we started reporting the metric. Organizations across the world are realizing the need for operational and systems resilience. Many of the large deals we signed during the quarter address precisely that need. They are core transformation programs that leverage the power of technology to make our customers’ operations leaner, faster, and more resilient.”

    N Ganapathy Subramaniam, Chief Operating Officer & Executive Director, said: “Covid 19 presented us an operational challenge of scale, speed and complexity. Although we have been the pioneers of the Location Independent Agile model, switching a long-established infrastructure model of an organization of over 448,000 employees in a matter of days is pushing the boundaries of location independence as well as agility to their limits. It also required recalibrating the project management methodology and the security posture. The outcome was our Secure Borderless Workspaces framework, which has now enabled close to 90% of our employees to work remotely and securely. Despite the lockdowns, I am pleased that our customers continue to experience the same energy and delivery certainty from TCS as before. All in all, we managed to not only maintain all essential services for our customers, but also continue the journey in their growth and transformation programs. As for the operating metrics, I am particularly happy with the robust client metrics this quarter, with strong additions across most revenue buckets.”

    V Ramakrishnan, Chief Financial Officer, said: “The speed with which we were able to switch from a highly centralized delivery to a fully distributed model is also on account of the investments we have been making over the years in building an agile and resilient core. We have digitized virtually all our processes and invested in cutting edge infrastructure and collaboration tools to support our Location Independent Agile delivery model and Secure Borderless Workspaces. As we enter a difficult and uncertain period, our strong balance sheet, best-in-class profitability and the inherent resilience of our business model position us well to navigate the challenges ahead and gain share.”

     

    IFRS Financial Statements

    Consolidated Statements of Comprehensive Income

    For the Year ended March 31, 2019, and March 31, 2020

    (In millions of $, except per share data)

     

     

    Year ended

    March 31, 2019

    Year ended

    March 31, 2020

    Revenue

    20,913

    22,031

    Cost of revenue

    12,160

    12,962

    Gross margin

    8,753

    9,069

    SG & A expenses

    3,406

    3,655

    Operating income

    5,347

    5,414

    Other income (expense), net

    589

    519

    Income before income taxes

    5,936

    5,933

    Income taxes

    1,428

    1,377

    Income after income taxes

    4,508

    4,556

    Minority interest

    14

    15

    Net income

    4,494

    4,541

    Earnings per share in $

    1.19

    1.21

     

    Consolidated Statements of Comprehensive Income

    For the three-month periods ended March 31, 2019, and March 31, 2020

    (In millions of $, except per share data)

     

     

    Three-month period ended

    March 31, 2019

    Three-month period ended

    March 31, 2020

    Revenue

    5,397

    5,444

    Cost of revenue

    3,144

    3,158

    Gross margin

    2,253

    2,286

    SG & A expenses

    899

    920

    Operating income

    1,354

    1,366

    Other income (expense), net

    165

    66

    Income before income taxes

    1,519

    1,432

    Income taxes

    362

    330

    Income after income taxes

    1,157

    1,102

    Minority interest

    3

    6

    Net income

    1,154

    1,096

    Earnings per share in $

    0.31

    0.29

     

    Consolidated Statements of Financial Position

    As of March 31, 2019, and March 31, 2020

    (In millions of $)

     

    As of March 31, 2019

    As of March 31, 2020

    Assets

    Property and equipment

    1,685

    1,583

    Right-of-use Assets

    0

    1,060

    Intangible assets and Goodwill

    581

    547

    Accounts Receivable

    3,969

    4,057

    Unbilled Revenues

    1,298

    1,398

    Investments

    4,243

    3,494

    Cash and Cash equivalents

    1,045

    1,146

    Other current assets

    2,908

    1,976

    Other non current assets

    1,207

    1,048

    Total Assets

    16,936

    16,309

     

    Shareholders' Funds

    13,243

    11,433

    Long term borrowings

    6

    0

    Short term borrowings

    3

    0

    Other current liabilities

    3,192

    3,587

    Other non-current liabilities

    423

    1,204

    Minority Interest

    69

    85

    Total Liabilities

    16,936

    16,309

     

    About Tata Consultancy Services Ltd (TCS)

    Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for the last fifty years. TCS offers a consulting-led, cognitive powered, integrated portfolio of business, technology and engineering services and solutions. This is delivered through its unique Location Independent Agile delivery model, recognized as a benchmark of excellence in software development.

    A part of the Tata group, India's largest multinational business group, TCS has over 448,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $22 billion in the fiscal year ended March 31, 2020, and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) in India. TCS' proactive stance on climate change and award-winning work with communities across the world have earned it a place in leading sustainability indices such as the Dow Jones Sustainability Index (DJSI), MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit us at www.tcs.com.

    To stay up-to-date on TCS global news, follow @TCS_News. 

    For more information please contact:

    Media: +91 22 6778 9999

    Investor Relations: 91 22 6778 9999

    arushie.sinha@tcs.com

    Kedar.shirali@tcs.com

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