MIRA
INFORM REPORT
|
Report Date : |
31.01.2013 |
IDENTIFICATION DETAILS
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Name : |
TATA CONSULTANCY SERVICES LIMITED |
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Registered
Office : |
9th Floor, Nirmal Building, Nariman Point, Mumbai - 400021,
Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
19.01.1995 |
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Com. Reg. No.: |
11-084781 |
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Capital
Investment / Paid-up Capital : |
Rs. 2957.221 millions |
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CIN No.: [Company Identification
No.] |
L22210MH1995PLC084781 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMT00681C MUMT11446B |
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PAN No.: [Permanent Account No.] |
AAACR4849R |
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Legal Form : |
A public limited liability company. The Company’s shares are listed on
the stock exchange. |
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Line of Business
: |
Providing Information Technology (IT) and Consultancy
Services including systems, hardware and software, communications and
networking, hardware sizing and capacity planning, software management
solutions, technology education services and business process outsourcing. |
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No. of Employees
: |
238583 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Aa (81) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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Maximum Credit Limit : |
USD 1661700000 |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed company having excellent track.
It is a part of Tata group, country’s premier industrial house. Fundamentals
are strong and healthy. Payments are always correct and as per commitments. The company can be considered good for any normal business dealings. It can be regarded as a promising business partner in medium to long
run. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
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Source
: CIA |
EXTERNAL AGENCY RATING
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Rating Agency Name |
ICRA |
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Rating |
AAA (Fund Based Limit) |
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Rating Explanation |
Having highest degree of safety regarding timely servicing of
financial obligations it carry lowest credit risk. |
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Date |
September 2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
9th Floor, Nirmal Building, Nariman Point, Mumbai – 400
021, Maharashtra, India |
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Tel. No.: |
91-22-67789595 |
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Fax No.: |
91-22-67509333 / 67789660 |
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E-Mail : |
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Website : |
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Corporate Office : |
TCS House, |
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Tel. No.: |
91-22-67789999 |
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Fax No.: |
91-22-67789000 |
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E-Mail : |
DIRECTORS
As on 02.04.2012
|
Name : |
Mr. R N Tata |
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Designation : |
Chairman |
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Date of Birth/Age : |
28.12.1937 |
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Qualification : |
Bachelor of Science degree in Architecture from |
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Date of Appointment : |
05.05.2004 |
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Other Directorship: |
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Name : |
Mr. S Ramadorai |
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Designation : |
Vice Chairman |
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Date of Birth/Age : |
06.10.1944 |
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Qualification : |
Bachelor’s degree
in Physics from Delhi University, Bachelor’s degree in Electronics and
Telecommunications from Indian Institute of Science, Bangalore, Master’s
degree in Computer Science from University of California, USA and Executive
MBA from Sloan School of Management, Massachusetts Institute of
Technology(MIT). |
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Date of Appointment : |
05.05.2004 |
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Other Directorship: |
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Name : |
Mr. Aman Mehta |
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Designation : |
Director |
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Date of Birth/Age : |
01.09.1946 |
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Qualification : |
Bachelors degree in Economics from |
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Date of Appointment : |
06.05.2004 |
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Directorship held in other Public Companies (excluding foreign
companies) : |
· Wockhardt Pharmaceuticals Limited · Jet Airways Limited · Max Healthcare Institute Limited · Godrej Consumer · Products limited · Cairn India limited |
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Name : |
Mr. V Thyagarajan |
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Designation : |
Director |
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Date of Birth/Age : |
19.04.1946 |
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Qualification : |
B. Tech [Elec] and M.B.A. from the Indian Institute of Management
Ahmedabad |
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Date of Appointment : |
05.09.2005 |
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Other Directorship: |
Glaxo Smithkline Pharmaceuticals Limited |
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Name : |
Mr. Clayton M Christensen |
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Designation : |
Director |
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Date of Birth/Age : |
06.04.1952 |
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Qualification : |
B.A. (Economics), M.Phil. (Economics), MBA and DBA from Harvard
Business School |
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Date of Appointment : |
12.01.2006 |
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Name : |
Mr. Ron Sommer |
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Designation : |
Director |
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Date of Birth/Age : |
29.07.1949 |
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Qualification : |
Ph .D in mathematics |
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Date of Appointment : |
05.09.2006 |
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Other Directorship: |
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Name : |
Mr. Laura M. Cha |
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Designation : |
Director |
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Date of Birth/Age : |
05.12.1949 |
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Qualification : |
B A JD (Juris Doctor i.e, doctor of law) |
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Date of Appointment : |
02.11.2006 |
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Name : |
Dr. Vijay Kelkar |
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Designation : |
Director |
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Name : |
Mr. Ishaat Hussain |
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Designation : |
Director |
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Name : |
Mr. N. Chandrasekaran |
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Designation : |
Managing Director and Chief Executive Officer |
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Name : |
Mr. S. Mahalingam |
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Designation : |
Chief Finance Officer and Executive Director |
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Name : |
Mr. Phiroz Vandrevala |
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Designation : |
Executive Director |
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Name : |
Mr. O P Bhatt |
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Designation : |
Director |
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Date of Birth/Age : |
07.03.1951 |
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Qualification : |
Graduate degree in Science, Post Graduate degree in English Literature
(Gold Medal). |
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Date of Appointment : |
02.04.2012 |
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Other Directorship: |
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Name : |
Prof. Cyrus P Mistry |
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Designation : |
Director |
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Date of Birth/Age : |
04.07.1968 |
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Qualification : |
Graduate degree in Civil Engineering from Imperial College, UK, M.Sc.
in Management from London Business School. |
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Date of Appointment : |
02.04.2012 |
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Other Directorship: |
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KEY EXECUTIVES
|
Name : |
Mr. Suprakash Mukhopadhyay |
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Designation : |
Company Secretary |
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Management Team: |
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Corporate: |
· Mr. N. Chandrasekaran (Chief Executive Officer) · Mr. S Mahalingam (Chief Finance Officer) · Mr. Ajoyendra Mukherjee (Global Human Resources) |
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Geography Heads: |
· Mr. Surya Kant (North America, UK and Europe) · Mr. Henry Manzano (Latin America) ·
Ravi
Viswanathan (India, APAC, Middle-East & Africa) ·
Srinivasa
G Raghavan ·
Girija
Pande ·
Vish
Iyer ·
Qi
Qi Dong ·
Masahiko
Kaji · Varun Kapur |
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Marketing : |
Mr. John Lenzen |
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Corporate
Communication : |
Ms. Pradipta Bagchi |
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Research and
Development : |
Mr. K. Ananth Krishnan |
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Human Resources : |
· Ms. Ritu Anand · Mr. Ashok Mukherjee · Mr. K. Ganesan · Mr. Thomas Simon · Mr. S. Narasimhan |
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Legal : |
Mr. Satya Hegde |
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Finance : |
· Mr. B. Sanyal · Mr. V. Ramakrishnan · Mr. Pauroos Karkaria · Mr. G.S. Lakshminathan · Mr. Rajesh Gopinathan · Mr. Dharmesh Gandhi |
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Chief Compliance
Officer : |
Mr. Ravindra J Shah |
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Security : |
Mr. R. K. Raghavan |
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Industry Service
Units: |
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Banking and
Financial Services : |
· Mr. K Krithivasan · Mr. Ramanamurthy Magapu · Mr. Susheel Vasudevan |
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Insurance and
Healthcare |
· Mr. Suresh Muthuswami · Ms. Vijaya Deepti · Ms. Syama Sundar |
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Life Sciences, Energy, Resources & Utilities and
Manufacturing : |
· Mr. Debashis Ghosh · Mr. Hasit Kaji · Mr. Milind Lakkad · Mr. Sudheer Warrier |
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Telecom, Media and Hi-Tech : |
·
A
S Lakshminarayanan ·
Kamal
Bhadada ·
Nagaraj
Ijari · N Sivasamban |
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Retail & CPG and Travel & Hospitality : |
·
Pratik
Pal · S Sukanya |
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Government : |
Tanmoy Chakrabarty |
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Strategic Growth
Units: |
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TCS Financial Services, iON, Small and Medium Business and
Platform BPO : |
·
N
G Subramaniam ·
Venguswamy
Ramaswamy ·
Raj
Agrawal |
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Service Units: |
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Global Consulting Practice: |
Mr. J Rajagopal |
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Engineering and Industrial
Services : |
Mr. Regu Ayyaswamy |
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Infrastructure
Services : |
Mr. P R Krishnan |
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BPO : |
Mr. Abid Ali Neemuchwala |
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Assurance Services
: |
Mr. Siva Ganesan |
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Enterprise
Solutions : |
Mr. Krishnan Ramanujam |
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Alliances : |
Mr. K Jayaramakrishnan |
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Internal IT : |
Mr. Alok Kumar |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.12.2012
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
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(A) Shareholding of Promoter and Promoter Group |
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|
1445958286 |
73.88 |
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|
1607624 |
0.08 |
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|
1607624 |
0.08 |
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|
1447565910 |
73.96 |
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Total shareholding of Promoter and Promoter Group (A) |
1447565910 |
73.96 |
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(B) Public Shareholding |
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|
22044167 |
1.13 |
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|
765134 |
0.04 |
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|
230487 |
0.01 |
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|
103217860 |
5.27 |
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292751329 |
14.96 |
|
|
685 |
0.00 |
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|
419009662 |
21.41 |
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|
6223578 |
0.32 |
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|
68653957 |
3.51 |
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|
14242234 |
0.73 |
|
|
1525655 |
0.08 |
|
|
342345 |
0.02 |
|
|
1182882 |
0.06 |
|
|
428 |
0.00 |
|
|
90645424 |
4.63 |
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Total Public shareholding (B) |
509655086 |
26.04 |
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Total (A)+(B) |
1957220996 |
100.00 |
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(C) Shares held by Custodians and against which Depository Receipts
have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
1957220996 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Information Technology (IT) and Consultancy Services
including systems, hardware and software, communications and networking,
hardware sizing and capacity planning, software management solutions,
technology education services and business process outsourcing. |
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Products : |
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PRODUCTION STATUS AS ON 31.03.2011
|
Particulars |
Installed
Capacity |
Actual
Production |
|
Document processing systems |
45000 |
4314 |
GENERAL INFORMATION
|
No. of Employees : |
238583 (Approximately) |
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Bankers : |
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Facilities : |
Note: Obligations under finance lease are secured against fixed
assets obtained under finance lease arrangements. |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Deloitte Haskins and Sells Chartered Accountants |
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Holding Company : |
Tata Sons Limited |
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Subsidiaries : |
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Fellow Subsidiaries: |
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Associate: |
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CAPITAL STRUCTURE
As on 31.03.2012
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2250000000 |
Equity Share |
Rs.1/- each |
Rs. 2250.000 Millions |
|
1000000000 |
Redeemable Preference Shares |
Rs.1/- each |
Rs. 1000.000 Millions |
|
|
|
|
|
|
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Total |
|
Rs. 3250.000
Millions |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1957220996 |
Equity Share |
Rs.1/- each |
Rs. 1957.200
Millions |
|
1000000000 |
Redeemable Preference Shares |
Rs.1/- each |
Rs. 1000.000
Millions |
|
|
|
|
|
|
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Total |
|
Rs. 2957.200 Millions |
NOTES:
a)
Reconciliation
of number of shares
|
|
As at March 31, 2012 |
|
|
Number of shares |
Amount (in millions) |
|
|
Equity shares |
|
|
|
Opening balance |
195,72,20,996 |
1957.200 |
|
Changes during the year |
- |
- |
|
Closing balance |
195,72,20,996 |
1957.200 |
|
Preference shares |
|
|
|
Opening balance |
100,00,00,000 |
1000.000 |
|
Changes during the year |
- |
- |
|
Closing balance |
100,00,00,000 |
1000.000 |
b)
Rights,
preferences and restrictions attached to shares
Equity shares
The Company has one class
of equity shares having a par value of Rs. 1 each. Each shareholder is eligible
for one vote per share held. The dividend proposed by the Board of Directors is
subject to the approval of the shareholders in the ensuing Annual General
Meeting, except in case of interim dividend. In the event of liquidation, the
equity shareholders are eligible to receive the remaining assets of the Company
after distribution of all preferential amounts, in proportion to their
shareholding.
Preference shares
Preference shares would be
redeemable at par at the end of six years from the date of allotment i.e. March
28, 2008, but may be redeemed at any time after 3 years from the date of
allotment at the option of the shareholder. These shares would carry a fixed
cumulative dividend of 1% per annum and a variable non-cumulative dividend of
1% of the difference between the rate of dividend declared during the year on
the equity shares of the Company and the average rate of dividend declared on
the equity shares of the Company for three years preceding the year of issue of
the redeemable preference shares.
c)
Shares
held by holding company and its subsidiaries and associates
(Rs. in millions)
|
|
As at March 31, 2012 |
|
Equity shares |
|
|
Holding Company |
|
|
144,34,51,698 equity shares (March 31, 2011 : 144,34,04,398
equity shares) are held by Tata Sons Limited |
1443.500 |
|
|
|
|
Subsidiaries and
associates of Holding Company |
|
|
10,29,700 equity shares (March 31,2011 : 10,29,700
equity shares) held by Tata Industries Limited |
1.000 |
|
20,70,735 equity shares (March 31,2011 : 12,29,101
equity shares) are held by Tata AIG Life Insurance Company Limited |
2.100 |
|
5,90,452 equity shares (March 31,2011 : 5,55,452
equity shares) are held by Tata Investment Corporation Limited |
0.600 |
|
200 equity shares (March 31, 2011 : 200 equity
shares) are held by Tata Capital Limited |
- |
|
3,91,200 equity shares (March 31, 2011 : 3,91,200
equity shares) are held by Tata Global Beverages Limited |
0.400 |
|
83,232 equity shares (March 31,2011 : 3,32,928
equity shares) are held by Tata International Limited |
0.100 |
|
452 equity shares (March 31, 2011 : 452 equity
shares) are held by The Tata Power Company Limited |
- |
|
Total |
1447.700 |
|
Preference shares |
|
|
Holding Company |
|
|
100,00,00,000 redeemable preference shares (March
31, 2011 : 100,00,00,000 redeemable preference shares) are held by Tata Sons
Limited |
1000.000 |
|
Total |
1000.000 |
d) Details of shares held by shareholders holding more than 5% of the aggregate shares in the Company
|
|
As at March 31, 2012 |
|
Equity shares |
|
|
Tata Sons Limited, the
Holding Company |
144,34,51,698 |
|
|
73.75% |
|
Preference shares |
|
|
Tata Sons Limited, the
Holding Company |
100,00,00,000 |
|
|
100% |
e)
Shares
allotted as fully paid up by way of bonus shares (during 5 years preceding
March 31, 2012)
The Company allotted
97,86,10,498 equity shares as fully paid-up bonus shares by utilisation of Securities
premium reserve on June 18, 2009 pursuant to shareholder's resolution passed by
postal ballot on June 12, 2009.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
2957.200 |
2957.200 |
2957.200 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
245609.100 |
192837.700 |
148209.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
248566.300 |
195794.900 |
151166.200 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
934.700 |
323.300 |
292.500 |
|
|
2] Unsecured Loans |
27.600 |
40.000 |
64.900 |
|
|
TOTAL BORROWING |
962.300 |
363.300 |
357.400 |
|
|
DEFERRED TAX LIABILITIES |
1181.000 |
693.200 |
401.000 |
|
|
|
|
|
|
|
|
TOTAL |
250709.600 |
196851.400 |
151924.600 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
40636.200 |
34221.800 |
27605.200 |
|
|
Capital work-in-progress |
13998.200 |
10728.600 |
9407.200 |
|
|
|
|
|
|
|
|
INVESTMENT |
56883.900 |
57954.900 |
78933.900 |
|
|
DEFERRED TAX ASSETS |
1397.400 |
520.300 |
531.300 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
41.400
|
53.700 |
67.800
|
|
|
Sundry Debtors |
91077.200
|
48066.700 |
33323.000
|
|
|
Cash & Bank Balances |
32800.700
|
31205.200 |
33961.600
|
|
|
Other Current Assets |
45937.800
|
35345.500 |
6636.000
|
|
|
Loans & Advances |
59815.300
|
42331.400 |
33851.100
|
|
Total
Current Assets |
229672.400
|
157002.500 |
107839.500 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
28471.800
|
21533.800 |
20282.700
|
|
|
Other Current Liabilities |
17961.500
|
17141.800 |
12843.700
|
|
|
Provisions |
45445.200
|
24901.100 |
39266.100
|
|
Total
Current Liabilities |
91878.500
|
63576.700 |
72392.500
|
|
|
Net Current Assets |
137793.900
|
93425.800 |
35447.000
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
250709.600 |
196851.400 |
151924.600 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
388585.400 |
292754.100 |
230444.500 |
|
|
|
Other Income |
26851.800 |
4947.300 |
1776.000 |
|
|
|
TOTAL (A) |
415437.200 |
297701.400 |
232220.500 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee benefit expenses |
141004.100 |
102218.500 |
78824.300 |
|
|
|
Operation and other expenses |
133724.100 |
102900.300 |
84903.500 |
|
|
|
TOTAL (B) |
274728.200 |
205118.800 |
163727.800 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
140709.000 |
92582.600 |
68492.700 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
164.000 |
200.100 |
95.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
140545.000 |
92382.500 |
68397.300 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
6881.700 |
5378.200 |
4693.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
133663.300 |
87004.300 |
63703.800 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
23903.500 |
11304.400 |
7518.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
109759.800 |
75699.900 |
56185.100 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
140692.000 |
104581.300 |
99904.100 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Interim dividends on equity shares |
17614.900 |
11743.200 |
11743.200 |
|
|
|
Proposed final dividend on equity shares |
31315.500 |
15657.800 |
27401.100 |
|
|
|
Dividend on redeemable preference shares |
220.000 |
110.000 |
170.000 |
|
|
|
Tax on dividend |
7973.400 |
4508.200 |
6575.100 |
|
|
|
General reserve |
10976.000 |
7570.000 |
5618.500 |
|
|
BALANCE CARRIED
TO THE B/S |
182352.000 |
140692.000 |
104581.300 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB value of exports |
|
1140.800 |
1289.200 |
|
|
|
Consultancy services |
|
265351.800 |
211152.800 |
|
|
|
Interest income |
380988.600 |
165.700 |
361.600 |
|
|
|
Other income |
|
0.000 |
92.100 |
|
|
TOTAL EARNINGS |
380988.600 |
266658.300 |
212895.700 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
81.900 |
140.400 |
111.100 |
|
|
|
Stores & Spares |
2274.900 |
0.100 |
0.200 |
|
|
|
Capital Goods |
0.100 |
3618.200 |
1018.400 |
|
|
TOTAL IMPORTS |
2356.900 |
3758.700 |
1129.700 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
55.95 |
38.61 |
28.61 |
|
QUARTERLY /
SUMMARISED RESULTS
|
PARTICULARS |
30.06.2012 |
30.09.2012 |
31.12.2012 |
|
|
1st Quarter |
2nd Quarter |
3rd Quarter |
|
Net Sales |
119255.600 |
114106.500 |
103717.100 |
|
Total Expenditure |
83503.500 |
79588.000 |
73314.900 |
|
PBIDT (Excl OI) |
35752.100 |
34518.500 |
30402.200 |
|
Other Income |
11486.900 |
1692.600 |
2434.600 |
|
Operating Profit |
47239.000 |
36211.100 |
32836.800 |
|
Interest |
132.900 |
42.600 |
24.300 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
PBDT |
47106.100 |
36168.500 |
32812.500 |
|
Depreciation |
1969.300 |
1817.900 |
1842.200 |
|
Profit Before Tax |
45136.800 |
34350.600 |
30970.300 |
|
Tax |
7909.200 |
6374.700 |
5386.900 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
37227.600 |
27975.900 |
25583.400 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
|
Net Profit |
37227.600 |
27975.900 |
25583.400 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
26.42
|
25.43 |
24.19
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
34.39
|
29.72 |
27.64
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
49.45
|
45.49 |
47.03
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.53
|
0.44 |
0.42
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00
|
0.00 |
0.00
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.50
|
2.47 |
1.49
|
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
---- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
---- |
|
22] |
Litigations that the firm
/ promoter involved in |
---- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---- |
|
26] |
Buyer visit details |
---- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOAN:
(Rs. in Millions)
|
Particulars |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
|
|
|
|
Other borrowings (from entities other than banks) |
27.600 |
40.000 |
|
|
|
|
|
Total |
27.600 |
40.000 |
CORPORATE
INFORMATION
Tata Consultancy
Services Limited (referred to as “TCS Limited” or the “Company”) and its subsidiaries
provide a wide range of information technology and consultancy services
including systems, hardware and software, communications and networking,
hardware sizing and capacity planning, software management solutions,
technology education services and business process outsourcing. The Company’s
full services portfolio consists of Application Development and Maintenance,
Business Intelligence, Enterprise Solutions, Assurance, Engineering and
Industrial Services, IT Infrastructure Services, Business Process Outsourcing,
Consulting and Asset Leveraged Solutions.
As of March 31,
2012, Tata Sons owned 73.75% of the Company’s equity share capital and has the
ability to control its operating and financial policies. The Company’s
registered office is in Mumbai and it has 58 subsidiaries across the globe.
COMPANY'S
PERFORMANCE:
During the financial year
2011-12, the volatility in the macroeconomic environment continued to cast its
shadow and most of the markets where TCS operates in, were impacted. Even in
this environment, the Company recorded industry leading financial performance.
The major contributing factors for such all round performance across
geographies and industry verticals were the Company's customer-centric approach
and its ability to innovate customer specific solutions, focus on pricing,
disciplined execution of complex projects and the rigor in following strong
internal processes.
In the financial year
2011-12, the Company continued its strong growth momentum across major markets.
Revenue growth in the year remained high in North America (29.62%), UK
(29.16%), Europe (41.62%), Asia Pacific (50.67%) and Middle East & Africa
(43.38%). Other geographies also witnessed double digit growth rates.
In the financial year
2011-12, most of the industry verticals registered healthy growth rates.
Revenue growth in BFSI (27.44%), Retail & Consumer Packaged Goods (45.05%)
and Manufacturing (38.11%) were significant contributors. Revenue growth in
"other industry verticals" was also significantly high at 37.27% -
the major contributors were Life Sciences and Healthcare (33.10%), Hi-Tech
(57.32%), Travel, Transport & Hospitality (42.85%).
The Company became the
first Indian IT Company to cross the US $10 billion milestone in terms of
annual revenue.
On consolidated basis,
revenue for the year 2011-12 at Rs. 488938.300 millions was higher by 31.00%
(Rs. 373245.100 millions in 2010-11), operating profit at Rs. 135173.700
millions was higher by 29.44% (Rs. 104431.000 millions in 2010-11) and the net
profit for the year at Rs. 104134.900 millions was higher by 14.84% (Rs.
90680.400 millions in 2010-11).
On unconsolidated basis,
revenue for the year 2011-12 at Rs. 388585.400 millions was higher by 32.73 %
(Rs. 292754.100 millions in 2010-11), operating profit at Rs. 106975.500
millions was higher by 30.05% (Rs. 82257.100 millions in 2010-11) and the net
profit for the year at Rs. 109759.800 millions was higher by 44.99% (Rs.
75699.900 millions in 2010-11).
The Company has been making
good progress in the strategic initiatives to drive its non-linear growth.
Software products (Asset Leveraged Solutions) have added significant new
customers during the year. Platform based BPO or process cloud have been
offered in the areas of life insurance and pensions, analytics, finance and
accounts, HR outsourcing and procurement. iON, the Company's cloud based
platform for small and medium businesses launched in early 2011 has gained
momentum in 2012.
AWARDS/RECOGNITIONS:
During the year, the Company received
various awards and recognitions, some of which are given below:
India
·
Outstanding
Company of the Year 2012 - CNBC TV18
·
Ranked #1
Employer in India - DataQuest
·
Best
Company to Work For - Business Today
·
Ranked #1
in DataQuest Top 20 IT companies
·
ICAI Award
for Excellence in Financial Reporting
·
IT Company
of the Year - NDTV Business Leadership Awards
·
Indian IT
Company of the Year- Bloomberg-UTV CXO Awards 2011
Global
·
5th in
Bloomberg Businessweek's Tech 100
·
7th in
Newsweek's Global Green Rankings
·
India's
Best Managed Company - Finance Asia
·
Forbes
Asia's Fab 50 companies
·
Gold
SABRE, USA for Executive Leadership Communications
·
Best
Architecture Trophy 2011 for TCS campus at Siruseri, Chennai at International
Property Awards
MANAGEMENT
DISCUSSION AND ANALYSIS
INDUSTRY
OVERVIEW
The world
wide spending towards information technology (IT) related products and services
has crossed USD 1.7 trillion in 2011, a growth of 5.4% over 2010. Software, IT
and BPO services, which were 63% of the total spending, grew at 4% over 2010.
Global IT
services spending have increased from USD 586 billion in 2010 to USD 605
billion in 2011. BPO services spending have increased from USD 147 billion in
to USD 153 billion in 2011. The geographic revenue break-up for IT and BPO
services in 2011 was 46.5% (43.0% in 2010) for North America, 34.1% in 2011
(39.7% in 2010) for Europe, Middle East and Africa and 19.4% in (17.3% in 2010)
for Asia Pacific.
Looking
forward, the global IT services spending is expected to grow at a CAGR1
of 4.5% over 2011-2013 while the global BPO services spending is expected to
grow at CAGR of 5.3% during the same period.
During
2011, global IT offshoring accounted for 61% of the total global sourcing
market while BPO offshoring accounted for 39%. Trends in global sourcing
continued to remain positive, showing higher growth than the global spending.
In 2011 global sourcing grew by 12% over 2010 (2010 growth over 2009 was
10.4%). The IT outsourcing market is expected to show a 3-year CAGR of 8% over
2011-2013, while BPO offshoring is expected to grow at CAGR of 7% over the same
period.
The large
size of the addressable global market and its steady expansion when viewed with
the relatively low current level of penetration suggests significant headroom
for future growth. The Company has positioned itself well for this anticipated
growth in business with an appropriate structure, strategy and capabilities.
BUSINESS
Overview:
TCS is an
Information Technology (IT) services, consulting and business solutions company
that delivers measurable results to global enterprises. The Company's full
services portfolio consists of Application Development and Maintenance,
Business Intelligence, Enterprise Solutions, Assurance Services, Engineering
and Industrial Services, IT Infrastructure Services, Business Process
Outsourcing, Consulting and Asset Leveraged Solutions. In addition, the Company
has launched several new service offerings around Mobility, Social Computing,
Big Data and Cloud.
The
Company has built strong domain capabilities in a range of industry verticals,
positioning itself as a strategic partner capable of reliably delivering
innovative technology-led solutions to business problems. Key industry
verticals serviced by the Company are Banking, Financial Services and
Insurance, Retail and Consumer Packaged Goods, Telecom, Media and
Entertainment, Hi-Tech, Manufacturing, Life Sciences and Healthcare, Energy,
Resources and Utilities, and Travel, Transportation and Hospitality.
The Company has also been steadily
expanding its geographic footprint. In addition to the traditional markets for
its services - namely, North America, United Kingdom and Continental Europe,
the Company has been expanding its presence in emerging markets like
Asia-Pacific, India, Latin America and Middle East & Africa.
In North America, the Company has
strengthened its local presence by investing and recruiting talent in local
centers such as Cincinnati, OH, Midland, MI and Troy, MI. TCS also opened a
state-of-art office facility in Santa Clara, CA, which will serve as customer
collaboration center and headquarter for mobility solutions unit and other
upcoming technologies.
As at March 31, 2012, TCS had 183
offices in 43 countries and 117 delivery centers in 21 countries.
Strategy
The Company's strategy to support
longer term growth is to continually extend the core IT services business by
expanding its geographic reach, industry coverage and service capabilities and by
deepening existing client relationships, building or acquiring emerging
businesses and adopting or creating new business models and business solutions.
Customer
centricity
Building
and maintaining deep customer relationship is the key to the Company's mission
to be a trusted business partner to global enterprises. The Company's
industry-segmented, customer-centric organisation is an important enabler to
achieve such mission. By building business units around groups of key clients
in each industry vertical and giving end-to-end sales and delivery
responsibility to the business head, TCS has ensured high levels of
accountability, superior customer service and intimacy.
Global
Network Delivery Model (GNDMTM)
The Global
Network Delivery Model (GNDMTM) of TCS is an industry benchmark that
allows the Company to seamlessly and uniformly deliver services to global
customers from multiple global locations in India, China, Europe, North America
and Latin America. The GNDM™ enables teams located in different delivery
centers across the world to collaborate on projects and leverage all of the
Company's assets while subscribing to 'One Global Service Standard'. With most
of the large global clients expanding their focus beyond their home markets,
the scale and depth of the Company's GNDM™ offering makes it the preferred
strategic partner in all those global expansion initiatives.
Strategic
acquisitions
The
Company primarily focuses on organic growth. However, the Company is also open
to selective strategic acquisitions in order to penetrate select markets,
strengthen verticals as well as enhance offerings. The strategic acquisitions
over the years have been successfully integrated and have provided value
enhancement.
Non-linear
growth
In order
to strengthen future sustainability of the business model, the Company has been
pursuing non-linear growth opportunities, which would bring in revenue growth
without commensurate growth in headcount. Non-linearity in the current IT and
IT enabled services businesses come from productivity-enhancing tools,
frameworks, solution accelerators and managed services engagements.
The
Company is pursuing three strategic initiatives to drive non-linear growth,
namely, (1) Software Products (Asset Leveraged Solutions) (2) Platform based
BPO services (Process Clouds) and (3) iON - an IT-as-a-service solution for
small and medium business.
TCS
financial solutions
TCS
financial solutions is a strategic business unit that enhances the competitive
capabilities of banking, financial services and insurance firms in over 80
countries, using the Company's best-in-class portfolio of business application
solutions marketed under the brand of TCS BaNCS.
TCS BaNCS product set is a component
repository consisting of over 30 business components covering businesses such
as core banking, insurance, payments, corporate actions, securities and
treasury. Each of these components enjoy marquee client-base and recognition as
leader in respective space by industry analysts.
TCS
financial solutions increased its substantive customer base by adding 39 new
clients during fiscal 2012. In addition, 14 clients went "live" on
TCS BaNCS solutions during fiscal 2012.
iON
iON, the TCS cloud-based comprehensive
business automation platform for small and medium businesses (SMB), launched in
February 2011, gained momentum in fiscal 2012. iON uses the very latest in
scalable cloud-computing technology to deliver a shared, centrally-hosted,
TCS-built world-class business automation suite to SMBs, eliminating the need
for them to invest in any IT assets or employ IT staff. Clients pay a monthly
rental for the software, as per usage, instead of the traditional one-time
license.
The suite includes Human Resource
Management, Customer Relationship Management, Payroll, Finance Management and
niche industry-specific solutions in the manufacturing, education, retail, and
healthcare verticals. These solutions are equipped with smart technologies like
multi-channel interaction (mobile), smartcards, and social computing.
iON is now marketed through an
augmented channel partner network of 109 cloud service providers. Penetration
of channel partners into tier two cities has been a significant development
during fiscal 2012. As on March 31, 2012, iON had 256 mid-market customers.
Some of the well known brands in India run their daily operations on iON.
iON has filed 7 patents in the area
of framework-based software development, public assessment technologies and
cloud based multi-tenant systems; these technologies are at core of iON.
STATEMENT
OF CONSOLIDATED AUDITED FINANCIAL RESULTS FOR THE QUARTER / SIX MONTHS ENDED
SEPTEMBER 30, 2012
(Rs.
in millions)
|
|
|
Quarter
ended |
Six months ended |
|
|
|
|
September 30, 2012 |
June 30, 2012 |
September 30, 2012 |
|
|
|
|||
|
1 |
INCOME FROM OPERATIONS |
|
|
|
|
|
a) Information technology and consultancy
services |
151880.500 |
145213.700 |
297094.200 |
|
|
b) Sale of equipment and software licenses (Net
of excise) |
4327.000 |
3473.400 |
7800.400 |
|
|
Total income from operations (net) |
156207.500 |
148687.100 |
304894.600 |
|
2 |
EXPENSES |
|
|
|
|
|
a) Employee benefits expense |
59465.900 |
57066.100 |
116532.000 |
|
|
b) Overseas business expense |
21826.200 |
20629.500 |
42455.700 |
|
|
c) Services rendered by business associates
and others |
9406.300 |
8274.900 |
17681.200 |
|
|
d) Depreciation and amortisation expense |
2655.800 |
2470.400 |
5126.200 |
|
|
e) Other expenses |
21128.000 |
19477.700 |
40605.700 |
|
|
Total expenses |
114482.200 |
107918.600 |
222400.800 |
|
3 |
PROFIT FROM OPERATIONS BEFORE OTHER INCOME,
FINANCE COSTS AND TAXES (1-2) |
41725.300 |
40768.500 |
82493.800 |
|
4 |
OTHER INCOME (NET) |
3283.300 |
1862.600 |
5145.900 |
|
5 |
PROFIT BEFORE FINANCE COSTS AND TAXES (3+4) |
45008.600 |
42631.100 |
87639.700 |
|
6 |
FINANCE COSTS |
151.100 |
65.500 |
216.600 |
|
7 |
PROFIT BEFORE TAXES (5-6) |
44857.500 |
42565.600 |
87423.100 |
|
8 |
TAX EXPENSE |
10160.700 |
8988.900 |
19149.600 |
|
9 |
PROFIT AFTER TAXES BUT BEFORE MINORITY
INTEREST AND SHARE OF LOSS OF ASSOCIATE (7-8) |
34696.800 |
33576.700 |
68273.500 |
|
10 |
SHARE OF LOSS OF ASSOCIATE |
- |
- |
- |
|
11 |
MINORITY INTEREST |
353.100 |
399.900 |
753.000 |
|
12 |
NET PROFIT FOR THE PERIOD (9-10-11) |
34343.700 |
33176.800 |
67520.500 |
|
13 |
Paid up equity share capital (Face Value :
Re 1 per share) |
19572 |
19572 |
19572 |
|
14 |
Reserves excluding Revaluation Reserves |
|
|
|
|
15 |
Basic and diluted earnings per share (in |
17.51 |
16.92 |
34.43 |
|
16 |
Dividend per share (par value ? 1 each) |
|
|
|
|
|
Interim dividend on equity shares ( in |
3.00 |
3.00 |
6.00 |
|
|
Final dividend on equity shares (in |
- |
- |
- |
|
|
Total dividend on equity shares (in |
3.00 |
3.00 |
6.00 |
|
|
Total equity dividend percentage |
300.00 |
300.00 |
600.00 |
|
|
Dividend on redeemable preference shares
(in |
- |
- |
- |
|
|
Preference dividend percentage |
|
|
|
SELECTED
INFORMATION FOR THE QUARTER / SIX MONTHS ENDED SEPTEMBER 30, 2012
|
|
Particulars |
Quarter ended |
Six months ended |
|
|
|
|
September 30, 2012 |
June 30, 2012 |
September 30, 2012 |
|
|
|
|||
|
1 |
Total Public Shareholding |
|
|
|
|
|
- Number of shares |
509655086 |
509280086 |
509655086 |
|
2 |
- Percentage of shareholding Promoters and promoter group Shareholding a) Pledged / Encumbered |
26.04 |
26.02 |
26.04 |
|
|
-Number of shares -Percentage of shares (as a % of the
total equity shareholding of promoter and
promoter group) |
77500000 5.35 |
79500000 5.49 |
77500000 5.35 |
|
|
- Percentage of shares (as a % of the total
equity share capital of the company) |
3.96 |
4.06 |
3.96 |
|
|
b) Non-Encumbered |
|
|
|
|
|
-Number of shares -Percentage of shares (as a % of the total equity shareholding of promoter and promoter
group) |
1370065910 94.65 |
1368440910 94.51 |
1370065910 94.65 |
|
|
- Percentage of shares (as a % of the total
equity share capital of the company) |
70.00 |
69.92 |
70.00 |
INFORMATION IN
INVESTORS COMPLAINTS FOR THE 3 MONTHS ENDED SEPTEMBER 30, 2012
|
Pending at the beginning of the quarter |
Received during the quarter |
Disposed of during the quarter |
Remaining unresolved at the end of the quarter |
|
0 |
27 |
25 |
2 |
AUDITED CONSOLIDATED STATEMENT OF ASSETS AND LIABILITIES AS AT
SEPTEMBER 30, 2012
(Rs.
in Millions)
|
|
As at September 30, 2012 |
|
EQUITY AND LIABILITIES |
|
|
Shareholder's funds |
|
|
a) Share Capital |
2957.200 |
|
b) Reserves and Surplus |
348806.300 |
|
Shareholder's funds |
351763.500 |
|
Minority Interest |
6163.500 |
|
Non- current Liabilities |
|
|
a) Long-term borrowings |
1183.600 |
|
b) Deferred tax liabilities (net) |
2123.700 |
|
c) Other long-term liabilities |
3398.700 |
|
d) Long-term provisions |
2707.900 |
|
Non- current liabilities |
9413.900 |
|
Current Liabilities |
|
|
a) Short- term borrowings |
1681.300 |
|
b) Trade payables |
38969.000 |
|
c) Other current liabilities |
25645.100 |
|
d) Short- term provisions |
20005.900 |
|
Current liabilities |
86301.300 |
|
TOTAL - EQUITY AND LIABILITIES |
453642.200 |
|
ASSETS |
|
|
Non- current assets |
|
|
a) Fixed Assets |
71512.400 |
|
b) Goodwill on consolidation |
37091.900 |
|
c) Non- current investments |
8991.800 |
|
d) Deferred tax assets (net) |
2703.400 |
|
e) Long-term loans and advances |
61092.100 |
|
f) Other non-current assets |
17400.100 |
|
Non- current assets |
183131.700 |
|
Current assets |
|
|
a) Current investments |
8843.300 |
|
b) Inventories |
226.900 |
|
c) Unbilled revenue |
31323.000 |
|
d) Trade receivables |
126077.600 |
|
e) Cash and bank balances |
70375.200 |
|
f) Short-term loans and advances |
28732.900 |
|
g) Other current assets |
4931.600 |
|
Current assets |
270510.500 |
|
TOTAL- ASSETS |
453642.200 |
NOTE:
The audited consolidated statement of assets and liabilities has been prepared in the format prescribed by the revised schedule VI to the Companies Act, 1956.
Previous year’s figures have been recast /restated to conform to the classification of the current period.
CONTINGENT
LIABILITY
Contingent Liability not provided for, in respect of: -
(Rs.
in millions)
|
PARTICULARS |
31.03.2012 |
|
|
|
|
Claims against the Group not acknowledged as debt |
1131.600 |
|
Income tax demands (See note (a) below) |
17144.100 |
|
Indirect tax demands |
1573.900 |
|
Guarantees given by the Group
(See note (b) below) |
6515.800 |
|
Unexpired letters of credit |
0.900 |
|
Other contingencies |
1.000 |
NOTES:
a)
TCS e-Serve Limited
has received demands aggregating Rs. 3300.700 millions (March 31, 2011: Rs.
2364.100 millions) in respect of income tax matters in dispute. TCS e-Serve
Limited has paid advance taxes aggregating to Rs. 3218.500 millions (March 31,
2011: Rs. 1851.300 millions) against disputed amounts for the various
assessment years. The Company is entitled to an indemnification from the
seller, of the above referred contingent claims on TCS e-Serve Limited, and
would be required to refund to the seller, amounts equal to the monies received
by TCS e-Serve Limited, on all such claims, as an adjustment to the purchase
price consideration.
b)
The Group has
provided guarantees aggregating to Rs. 6515.800 millions (GBP 80.00 million)
(March 31, 2011: Rs. 7042.100 millions) (GBP 98.100 million) to third parties
on behalf of its subsidiary Diligenta Limited. The Group does not expect any
outflow of resources in respect of the above.
c)
The Group has
examined the social security and tax aspects of contracts with legal entities
which provide services to an overseas subsidiary and, based on legal opinion,
concludes that the subsidiary is in compliance with the related statutory
requirements.
PRESS RELEASE
Everest Group PEAK Matrix
Positions TCS as a Leader in Insurance Business Process Outsourcing
Report cites TCS’ Scale and Technology Capability as the Source of its
Market Success
Mumbai, January 17, 2013: Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a
leading IT services, consulting and business solutions organization, announced,
today, that it has been designated as a Leader in Insurance BPO in the Everest
Group report “A PEAK into
the Leaders, Major Contenders and Emerging Players of Insurance BPO.”
Among the attributes that earned TCS the prominent position are its market success,
scale and strong technology capability characterized by the TCS BaNCS suite of
platforms for insurance.
In
this report, Everest Group analyzed the position of 10 service providers on the
Everest Group Performance | Experience | Ability | Knowledge (PEAK) Matrix for
Insurance BPO. The PEAK Matrix is a framework to assess the absolute
market success and overall capability of service providers. These service
providers are divided into three categories, Leaders, Major Contenders and
Emerging Players, based on market success and delivery capability.
“Beyond
cost, effective technology and platform leverage, domain expertise, ability to
delivery judgment oriented processes and a balanced shoring delivery model are
emerging as winning themes in the insurance BPO marketplace. TCS’ demonstrated
capability across several of these attributes helped it achieve the
recognition,” said Rajesh Ranjan, Vice President, Everest Group.
“TCS’
experience and expertise in delivering complex insurance business processes, risk
& actuarial work and its BaNCS insurance platform helped TCS win and
deliver some of the largest and most complex business process transformation
deals in the Insurance industry. Customers across all the insurance segments
and geographies continue to see significant improvements in efficiencies and
effectiveness as they leverage TCS’ BPO services. We are thus pleased to see
Everest Group’s ranking, which recognizes the success of our approach,” said
Abid Ali Z Neemuchwala, Global Head, BPO Services, TCS.
TCS
has over three decades of experience partnering with over 90 regional and
global insurers to achieve improved operational efficiencies, reduced costs and
customer / partner satisfaction. TCS’ services span all insurance segments -
Life, Healthcare, Property and Casualty (General Insurance) as well as
Annuities, Pensions & Retirement and the complete lifecycle. TCS’ FORE™
transformation methodology, the TCS BaNCS suite of platform solutions and its
Global Network Delivery Model (GNDM™) enables TCS to be a strategic and
proactive growth enabler for its insurance customers.
About TCS’ Business Process Services
TCS’ Business Process
Services are about managing and executing business operations. Our
domain expertise helps deliver core business processing across industries,
analytics and insights, and support processes such as accounting, HR and supply
chain management. TCS partners with customers to accelerate co-transformation
and generates business value for customers through delivery excellence, risk
management and innovative models such as Platform BPO, which deliver process as
a service. With over $1.1 billion in BPO revenues and 40,000+ employees across
11 countries delivering services to more than 200+ customers, TCS is one of the
leading global domain-based BPO providers.
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, BPO, 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 254,000 of the world’s
best-trained consultants in 44 countries. The company generated consolidated
revenues of US $10.17 billion for year ended March 31, 2012 and is listed on
the National Stock Exchange and Bombay Stock Exchange in India.
Fixed Assets:
- Freehold
Buildings
- Factory
Buildings
- Leasehold
Buildings
- Plant and
Machineries
- Computer
Equipments
- Motor Cars
- Office
Equipments
- Electrical
Installations
- Furniture and
Fixtures
- Vehicles
- Intellectual
Property / Distribution Rights
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l Anti-Money
Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.57 |
|
|
1 |
Rs.84.37 |
|
Euro |
1 |
Rs.72.23 |
INFORMATION DETAILS
|
Report Prepared
by : |
NID |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
9 |
|
OPERATING SCALE |
1~10 |
9 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
10 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
9 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
9 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
81 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.