MIRA INFORM REPORT

Report Date :

09.10.2013

IDENTIFICATION DETAILS

Name :	TATA CONSULTANCY SERVICES LIMITED
Registered Office :	9^th Floor, Nirmal Building, Nariman Point, Mumbai - 400021, Maharashtra
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	19.01.1995
Com. Reg. No.:	11-084781
Capital Investment / Paid-up Capital :	Rs. 2957.200 Millions
CIN No.: [Company Identification No.]	L22210MH1995PLC084781
TAN No.: [Tax Deduction & Collection Account No.]	MUMT00681C MUMT11446B
PAN No.: [Permanent Account No.]	AAACR4849R
Legal Form :	A Public Limited Liability company. The company’s Shares are Listed on the Stock Exchanges.
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.
No. of Employees :	238583 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Aa (81)

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	USD 1302490000
Status :	Excellent
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well established and reputed company having excellent track record. 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 – March 31^st, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

INDIAN ECONOMIC OVERVIEW

We are living in a world where volatility and uncertainty have become the New Normal. We saw a change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once powerful countries in Europe are now fighting for bankruptcy. We have taken growth in the developing part of the world for granted but economic growth in China and India has begun to slow. Companies that were synonymous with their product categories just a few years ago are now no longer in existence. Kodak, the inventor of the digital camera had to wind up its operations, HMV, the British entertainment retailing company and Borders, once the second largest bookstore have shut down due to their inability to evolve their business models with the changing time. Readers’ Digest, Thomson Register are no more !

There is another megatrend happening. The World order is changing as economic power shifts from West to East. According to McKinsey study, it took Britain more than 100 years to double its economic output per person during its industrial revolution and the US later took more than 50 years to do the same. More than a century later, China and India have doubled their GDP per capital in 12 and 18 years respectively. By 2020, emerging Asia will become the world’s largest consuming block, overtaking North America.

The years after the outbreak of the global financial crisis, the world economy continues to remain fragile. The Indian economy demonstrated remarkable resilience in the initial years of the contagion but finally lost ground last year. GDP growth slowed down. Currency has been weakening. There is a marked deceleration in agriculture, industry and services. Dampening sentiment led to a cut-back in investment as well as private consumption expenditure.  Inflation remained at high levels fuelled by the pressure from the food and fuel sectors. The large fiscal and current account deficit s continued to cause grave concern. It is imperative that India regains its growth trajectory of 8-9 % sooner than later. This is crucially important given the need to create gainful livelihood opportunities for the millions living in poverty as also the large contingent of young people joining the job market every year.

EXTERNAL AGENCY RATING

Rating Agency Name	ICRA
Rating	AAA (Fund Based Limit)
Rating Explanation	Having highest degree of safety regarding timely servicing of financial obligations. It carry lowest credit risk.
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.

INFORMATION DENIED

Management Non Co-Operative (91-22-67789595)

LOCATIONS

Registered Office :	9^th Floor, Nirmal Building, Nariman Point, Mumbai – 400 021, Maharashtra, India
Tel. No.:	91-22-67789595
Fax No.:	91-22-67509333 / 67789660
E-Mail :	suprakash.mukhopadhyay@tcs.com investor.relations@tcs.com sh.rajadhyaksha@tcs.com tcs@tata.com suprakash.mukhopadhay@tcs.com
Website :	www.tcs.com
Corporate Office / Regional Office :	TCS House, Raveline Street, Fort, Mumbai – 400001, Maharashtra, India
Tel. No.:	91-22-67789999
Fax No.:	91-22-67789000
E-Mail :	Inves.relations@tcs.com

DIRECTORS

AS ON 31.03.2012

Name :	Mr. R N Tata
Designation :	Chairman
Date of Birth/Age :	28.12.1937
Qualification :	Bachelor of Science degree in Architecture from Cornell University. Completed the Advanced Management Program Conducted by Harvard University
Date of Appointment :	05.05.2004
Other Directorship:	Tata Sons Limited Tata Industries Limited Tata Steel Limited Tata Motors Limited Tata Chemicals Limited The Indian Hotels Company Limited The Tata Power Company Limited Tata Tea Limited Tat Autocomp Systems Limited The Bombay Dyeing and Manufacturing Company Limited Tata Teleservices Limited Tata Teleservices [Maharashtra] Limited Hindustan Aeronautics Limited
Name :	Mr. S Ramadorai
Designation :	Vice Chairman
Date of Birth/Age :	06.10.1944
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).
Date of Appointment :	05.05.2004
Other Directorship:	Tata Industries Limited Tata Elxsi Limited Tata Technologies Limited CMC Limited Hindustan Unilever Limited Piramal Healthcare Limited Tata Teleservices (Maharashtra) Limited Tata Communications Limited Computational Research Laboratories Limited Asian Paints Limited Tata Advanced Systems Limited BSE Limited Tata Lockheed Martin Aerostructures Limited Tara Aerospace Systems Limited
Name :	Mr. Aman Mehta
Designation :	Director
Date of Birth/Age :	01.09.1946
Qualification :	Bachelors degree in Economics from Delhi University
Date of Appointment :	06.05.2004
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
Name :	Mr. V Thyagarajan
Designation :	Director
Date of Birth/Age :	19.04.1946
Qualification :	B. Tech [Elec] and M.B.A. from the Indian Institute of Management Ahmedabad
Date of Appointment :	05.09.2005
Other Directorship:	Glaxo Smithkline Pharmaceuticals Limited
Name :	Mr. Clayton M Christensen
Designation :	Director
Date of Birth/Age :	06.04.1952
Qualification :	B.A. (Economics), M.Phil. (Economics), MBA and DBA from Harvard Business School
Date of Appointment :	12.01.2006
Name :	Mr. Ron Sommer
Designation :	Director
Date of Birth/Age :	29.07.1949
Qualification :	Ph .D in mathematics
Date of Appointment :	05.09.2006
Other Directorship:	Sistema Shyam Teleservices Limited
Name :	Mr. Laura M. Cha
Designation :	Director
Date of Birth/Age :	05.12.1949
Qualification :	B A JD (Juris Doctor i.e, doctor of law)
Date of Appointment :	02.11.2006
Name :	Dr. Vijay Kelkar
Designation :	Director
Name :	Mr. Ishaat Hussain
Designation :	Director
Name :	Mr. N. Chandrasekaran
Designation :	Managing Director and Chief Executive Officer
Name :	Mr. S. Mahalingam
Designation :	Chief Finance Officer and Executive Director
Name :	Mr. Phiroz Vandrevala
Designation :	Executive Director
Name :	Mr. O P Bhatt
Designation :	Director
Date of Birth/Age :	07.03.1951
Qualification :	Graduate degree in Science, Post Graduate degree in English Literature (Gold Medal).
Date of Appointment :	02.04.2012
Other Directorship:	Oil and Natural Gas Corporation Limited Hindustan Unilever Limited
Name :	Prof. Cyrus P Mistry
Designation :	Director
Date of Birth/Age :	04.07.1968
Qualification :	Graduate degree in Civil Engineering from Imperial College, UK, M.Sc. in Management from London Business School.
Date of Appointment :	02.04.2012
Other Directorship:	Tata Sons Limited Tata Industries Limited The Tata Power Company Limited Tata Teleservices Limited Tata Steel Limited

KEY EXECUTIVES

Name :	Mr. Suprakash Mukhopadhyay
Designation :	Company Secretary
Management Team:
Corporate:	Mr. N. Chandrasekaran (Chief Executive Officer) Mr. S Mahalingam (Chief Finance Officer) Mr. Ajoyendra Mukherjee (Global Human Resources)
Geography Heads:	Mr. Surya Kant (North America, UK and Europe) Mr. Henry Manzano (Latin America) Ravi Viswanathan (India, APAC, Middle-East and Africa) Srinivasa G Raghavan Girija Pande Vish Iyer Qi Qi Dong Masahiko Kaji Varun Kapur
Marketing :	Mr. John Lenzen
Corporate Communication :	Ms. Pradipta Bagchi
Research and Development :	Mr. K. Ananth Krishnan
Human Resources :	Ms. Ritu Anand Mr. Ashok Mukherjee Mr. K. Ganesan Mr. Thomas Simon Mr. S. Narasimhan
Legal :	Mr. Satya Hegde
Finance :	Mr. B. Sanyal Mr. V. Ramakrishnan Mr. Pauroos Karkaria Mr. G.S. Lakshminathan Mr. Rajesh Gopinathan Mr. Dharmesh Gandhi
Chief Compliance Officer :	Mr. Ravindra J Shah
Security :	Mr. R. K. Raghavan
Industry Service Units:
Banking and Financial Services :	Mr. K Krithivasan Mr. Ramanamurthy Magapu Mr. Susheel Vasudevan
Insurance and Healthcare :	Mr. Suresh Muthuswami Ms. Vijaya Deepti Ms. Syama Sundar
Life Sciences, Energy, Resources and Utilities and Manufacturing :	Mr. Debashis Ghosh Mr. Hasit Kaji Mr. Milind Lakkad Mr. Sudheer Warrier
Telecom, Media and Hi-Tech :	A S Lakshminarayanan Kamal Bhadada Nagaraj Ijari N Sivasamban
Retail and CPG and Travel and Hospitality :	Pratik Pal S Sukanya
Government :	Tanmoy Chakrabarty
Strategic Growth Units:
TCS Financial Services, iON, Small and Medium Business and Platform BPO :	N G Subramaniam Venguswamy Ramaswamy Raj Agrawal
Service Units:
Global Consulting Practice:	Mr. J Rajagopal
Engineering and Industrial Services :	Mr. Regu Ayyaswamy
Infrastructure Services :	Mr. P R Krishnan
BPO :	Mr. Abid Ali Neemuchwala
Assurance Services :	Mr. Siva Ganesan
Enterprise Solutions :	Mr. Krishnan Ramanujam
Alliances :	Mr. K Jayaramakrishnan
Internal IT :	Mr. Alok Kumar

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.06.2013

Category of Shareholder	No. of Shares	% of No. of Shares
(A) Shareholding of Promoter and Promoter Group
(1) Indian
Bodies Corporate	1445942086	73.88
Any Others (Specify)	1607624	0.08
Trusts	1607624	0.08
Sub Total	1447549710	73.96
(2) Foreign
Total shareholding of Promoter and Promoter Group (A)	1447549710	73.96
(B) Public Shareholding
(1) Institutions
Mutual Funds / UTI	22495209	1.15
Financial Institutions / Banks	550269	0.03
Central Government / State Government(s)	225107	0.01
Insurance Companies	92300269	4.72
Foreign Institutional Investors	306690107	15.67
Sub Total	422260961	21.57
(2) Non-Institutions
Bodies Corporate	5706165	0.29
Individuals
Individual shareholders holding nominal share capital up to Rs. 0.100 Million	65317572	3.34
Individual shareholders holding nominal share capital in excess of Rs. 0.100 Million	14222034	0.73
Any Others (Specify)	2164554	0.11
Trusts	436538	0.02
Clearing Members	1727988	0.09
Foreign Corporate Bodies	28	0.00
Sub Total	87410325	4.47
Total Public shareholding (B)	509671286	26.04
Total (A)+(B)	1957220996	100.00
(C) Shares held by Custodians and against which Depository Receipts have been issued	0	0.00
(1) Promoter and Promoter Group	0	0.00
(2) Public	0	0.00
Sub Total	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.

Products :

Product Description	Item Code (ITC Code)
Computer Software	85249009

Exports :

Not Divulged

Imports :

Not Divulged

PRODUCTION STATUS (AS ON 31.03.2011)

Particulars	Installed Capacity	Actual Production
Document processing systems	45000	4314

GENERAL INFORMATION

Suppliers :

Not Divulged

Customers :

Not Divulged

No. of Employees :

238583 (Approximately)

Bankers :

• Standard Chartered Grindlays Bank Limited
• Citibank N.A.
• The National Bank of Bahrain
• ABN Amro, U.S.A.
• Credit Suisse, Switzerland
• Bank Tejarat, Iran
• Nepal Arab Bank Limited, Nepal
• ABN Amro, Malaysia
• UNI Bank, Denmark
• CIBC Bank, Canada
• DBS, Singapore
• Kotak Mahindra Bank, Fort, Mumbai, Maharashtra, India

Facilities :

Secured Loan	Rs. In Millions 31.03.2013	Rs. In Millions 31.03.2012
LONG TERM BORROWINGS
Long term maturities of obligations under finance lease	815.900	934.700
SHORT - TERM BORROWINGS
From Banks	0.000	0.000
Overdraft	800.200	0.000
TOTAL	1616.100	934.700
NOTE LONG TERM BORROWINGS Obligations under finance lease are secured against fixed assets obtained under finance lease arrangements. SHORT - TERM BORROWINGS Bank Overdrafts are secured against book debts.

Banking Relations :	--
Auditors :
Name :	Deloitte Haskins and Sells Chartered Accountants

CAPITAL STRUCTURE

As on: 28.06.2013

Authorised Capital : Rs.5000.750 Millions

Issued, Subscribed & Paid-up Capital : Rs.2957.221 Millions

AS ON 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
2250000000	Equity Shares	Rs.1/- each	Rs. 2250.000 Millions
1000000000	Redeemable Preference Shares	Rs.1/- each	Rs. 1000.000 Millions
	TOTAL		Rs. 3250.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1957220996	Equity Shares	Rs.1/- each	Rs. 1957.200 Millions
1000000000	Redeemable Preference Shares	Rs.1/- each	Rs. 1000.000 Millions
	TOTAL		Rs. 2957.200 Millions

NOTES

a) Reconciliation of number of shares

	As at March 31, 2013
	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 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, its subsidiaries and associates

(Rs. in millions)

	As at March 31, 2012
Equity shares
Holding Company
144,34,51,698 equity shares (March 31, 2012 : 144,34,51,698 equity shares) are held by Tata Sons Limited	1443.500
Subsidiaries and associates of Holding Company
10,29,700 equity shares (March 31, 2012 : 10,29,700 equity shares) are held by Tata Indus tries Limited	1.000
NIL equity shares (March 31, 2012 : 20,70,735 equity shares) are held by Tata AIG Life Insurance Company Limited	--
5,90,452 equity shares (March 31, 2012 : 5,90,452 equity shares) are held by Tata Investment Corporation Limited	0.600
200 equity shares (March 31, 2012 : 200 equity shares) are held by Tata Capital Limited	--
NIL equity shares (March 31, 2012 : 3,91,200 equity shares) are held by Tata Global Beverages Limited	--
83,232 equity shares (March 31, 2012 : 83,232 equity shares) are held by Tata International Limited	0.100
452 equity shares (March 31, 2012 : 452 equity shares) are held by The Tata Power Company Limited	--
TOTAL	1445.200
Preference shares
Holding Company
100,00,00,000 redeemable preference shares (March 31, 2012 : 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, 2013
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, 2013)

The Company allotted 97,86,10,498 equity shares as fully paid up bonus shares by utilization of Securities premium reserve on June 18, 2009 pursuant to a shareholder’s resolution passed by postal ballot on June 12, 2009.

LISTING DETAILS

Subject Stock Code :	BSE : 532540 NSE : TCSEQ
Stock Exchange Place :	The Stock Exchange, Mumbai National Stock Exchange of India Limited
Listed Date :	25.08.2004

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	2957.200	2957.200	2957.200
(b) Reserves & Surplus	322665.300	245609.100	192837.700
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	325622.500	248566.300	195794.900
(3) Non-Current Liabilities
(a) long-term borrowings	831.000	962.300	363.300
(b) Deferred tax liabilities (Net)	1684.900	1181.000	693.200
(c) Other long term liabilities	2518.700	1975.900	1299.100
(d) long-term provisions	2695.200	1547.800	761.700
Total Non-current Liabilities (3)	7729.800	5667.000	3117.300
(4) Current Liabilities
(a) Short term borrowings	800.200	0.000	0.000
(b) Trade payables	35280.400	28479.100	21533.800
(c) Other current liabilities	21727.100	15985.600	15842.700
(d) Short-term provisions	38961.400	43890.100	24139.400
Total Current Liabilities (4)	96769.100	88354.800	61515.900
TOTAL	430121.400	342588.100	260428.100
ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	50594.800	40121.600	33637.800
(ii) Intangible Assets	448.000	514.600	584.000
(iii) Capital work-in-progress	17638.500	13998.200	10728.600
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	59757.300	51470.600	54579.100
(c) Deferred tax assets (net)	1482.300	1397.400	520.300
(d) Long-term Loan and Advances	46302.100	43328.100	28640.900
(e) Other Non-current assets	18812.000	26368.800	26032.600
Total Non-Current Assets	195035.000	177199.300	154723.300
(2) Current assets
(a) Current investments	3486.500	5413.300	3375.800
(b) Inventories	63.400	41.400	53.700
(c) Unbilled revenue	23033.500	15674.700	8363.700
(d) Trade receivables	112023.200	91077.200	48066.700
(e) Cash and cash equivalents	40541.600	32800.700	31205.200
(f) Short-term loans and advances	49114.800	16497.400	13690.500
(g) Other current assets	6823.400	3884.100	949.200
Total Current Assets	235086.400	165388.800	105704.800
TOTAL	430121.400	342588.100	260428.100

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	484261.400	381042.300	292754.100
		Other Income	22303.900	26851.800	4947.300
		TOTAL (A)	506565.300	407894.100	297701.400
Less	EXPENSES
		Employee benefit expenses	170817.200	135726.800	102218.500
		Operation and other expenses	170381.500	131458.300	102900.300
		TOTAL (B)	341198.700	267185.100	205118.800
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		165366.600	140709.000	92582.600
Less	FINANCIAL EXPENSES (D)		306.200	164.000	200.100
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		165060.400	140545.000	92382.500
Less/ Add	DEPRECIATION/ AMORTISATION (F)		8028.600	6881.700	5378.200
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		157031.800	133663.300	87004.300
Less	TAX (H)		29168.400	23903.500	11304.400
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		127863.400	109759.800	75699.900
Less	ADJUSTMENT FOR AMALGAMATION OF RETAIL FULL SERVE LIMITED AND COMPUTATIONAL RESEARCH LABORATORIES LIMITED		(1030.000)	0.000	0.000
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		182352.000	140692.000	104581.300
Less	APPROPRIATIONS
		Interim dividends on equity shares	17614.900	17614.900	11743.200
		Proposed final dividend on equity shares	25443.900	31315.500	15657.800
		Dividend on redeemable preference shares	190.000	220.000	110.000
		Tax on dividend	7121.800	7973.400	4508.200
		General reserve	12786.300	10976.000	7570.000
	BALANCE CARRIED TO THE B/S		246028.500	182352.000	140692.000
	EARNINGS IN FOREIGN CURRENCY
		FOB value of exports	NA		1140.800
		Consultancy services	NA		265351.800
		Interest income	NA		165.700
	TOTAL EARNINGS		NA	380988.600	266658.300
	IMPORTS
		Raw Materials	203.500	81.900	140.400
		Stores & Spares	0.100	0.100	0.100
		Capital Goods	3524.200	2274.900	3618.200
	TOTAL IMPORTS		3727.800	2356.900	3758.700
	Earnings Per Share (Rs.)		65.22	55.95	38.61

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	25.24	26.91	25.43
Net Profit Margin (PBT/Sales)	(%)	32.43	35.08	29.72
Return on Total Assets (PBT/Total Assets}	(%)	44.71	48.48	44.71
Return on Investment (ROI) (PBT/Networth)		0.48	0.54	0.44
Debt Equity Ratio (Total Debt /Networth)		0.01	0.00	0.00
Current Ratio (Current Asset/Current Liability)		2.43	1.87	1.72

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	No
17]	Major suppliers	No
18]	Major customers	Yes
19]	Payments terms	No
20]	Export / Import details (if applicable)	Yes
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	No
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 31.03.2013	Rs. In Millions 31.03.2012
LONG TERM BORROWINGS
Other loans and advances (from entities other than banks )	15.100	27.600
TOTAL	15.100	27.600

SUNDRY CREDITORS DETAILS

(Rs. In Millions)

Particulars	31.03.2013	31.03.2012	31.03.2011
Sundry Creditors	35280.400	28479.100	21533.800
TOTAL	35280.400	28479.100	21533.800

MANAGEMENT DISCUSSION AND ANALYSIS

ECONOMY AND INDUSTRY OVERVIEW

The global economic environment in calendar year 2012 continued to remain uncertain with signs of concern and slow growth (1%-2%). Improving consumer confidence and structural policy decisions in the developed markets are providing the required momentum to kick-start the economy on to the path of recovery. In the emerging markets, strong consumer spending and upbeat investment sentiment continue to drive economic growth (5%-8%).

.

Across markets, technology and innovation are being seen as growth drivers. Investment in innovation has emerged as a differentiator in the market place. Investment in technology has been enabling companies to connect with customers and influence their purchase decisions on a real-time basis. As a result, spending on technology and related services grew at a rate faster than the GDP growth. The worldwide spending on technology and related services in 2012 was USD 1.9 trillion2, a growth of 4.8% over 2011. Spend on IT, BPO and software products, continued to have the majority share of 58% of total IT spend, standing at USD 1 trillion2. The global sourcing market reached a volume of USD 124-130 billion in 2012 with a growth of 9% over 2011, which was twice the growth rate of the global IT spend.

While banking, financial services and insurance (BFSI) and manufacturing remained the largest verticals in terms of total share in IT spending, emerging verticals such as healthcare, retail, government and utilities were the drivers of incremental growth in 2012.

The large North American IT market continues to expand at a faster pace (5%) than the economy. Investments by American corporations in innovation and digital technologies is driving the growth in technology spend. IT spend in emerging markets like Asia-Pacific continues to grow at a faster pace than in mature geographies on account of investments by corporations to bring their IT infrastructure on par with global standards. Despite the changing and volatile economic environment, the global market offers substantial opportunities and TCS is fully geared to navigate through the changing technology demands and customer expectations.

OVERVIEW

TCS is an Information Technology (IT) services, consulting and business solutions company. The Company provides end-to-end technology and technology related services to global enterprises. TCS’ domain knowledge and technology expertise helps global corporations to focus on their core business, while TCS manages their investments in technology and helps transform their business processes.

The breadth and depth of TCS’ domain and technology expertise has been built over the last 45 years through a unique combination of investments in people and new technologies supported by long standing client relationships.

The Company has been registering steady all round growth in its customer base, presence in geographies, domain expertise and service offerings, which reflect in the steady upward trend in its financial outcome over the

years. TCS has the distinction of being one of the most valuable companies in India and one of the top ten IT services companies in the world.

CORPORATE INFORMATION

Subject 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, 2013, 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.

NATURE OF BUSINESS OF AMALGAMATING COMPANIES

Retail Full Serve Limited is engaged in the business of providing information technology and business process outsourcing services.

Computational Research Laboratories Limited is engaged in the business of conducting research and development relating to high performance computing and allowing usage of computers, including providing consultation services in the field of information technology. On August 16 2012, the company has acquired 100% equity share capital of Computational Research Laboratories Limited.

CONTINGENT LIABILITIES

(Rs. In Millions)

Particular	As at March 31, 2013	As at March 31, 2012
Claims against the Company not acknowledged as debts	236.700	214.900
Income Tax demands	25897.300	13819.700
Indirect Tax demands	616.300	614.400
Guarantees given by the Company on behalf of subsidiaries	46274.200	33899.000
NOTES (a) TCS e-Serve Limited has received demands aggregating Rs. 5592.700 Millions (March 31, 2012: Rs. 3300.700 Millions) in respect of income tax matters in dispute. TCS e-Serve Limited has paid advance taxes aggregating to Rs. 3443.500 Millions (March 31, 2012: Rs. 3218.500 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 monies received by TCS e-Serve Limited, on all such claims, as an adjustment to the purchase price consideration. (b) The Company has provided guarantees aggregating to Rs. 29108.800 Millions (GBP 353.65 million) (March 31, 2012: Rs. 30685.500 Millions) (GBP 376.75 million) to third parties on behalf of its subsidiary Diligenta Limited. The Company does not expect any outflow of resources in respect of the above.

FIXED ASSETS

• Freehold Land
• Leasehold Land
• 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

WEBSITE DETAILS

Press Release

NYRR AND TCS SIGN PREMIER PARTNERSHIP AND TITLE SPONSORSHIP OF NEW YORK CITY MARATHON

Partnership includes naming rights of TCS New York City Marathon, beginning in 2014, and support of multiple races and community initiatives throughout the five boroughs

Eight-year partnership with TCS to provide unprecedented support for NYRR’s mission to help and inspire people through running

October 02, 2013

New York, October 2, 2013--New York Road Runners (NYRR) and Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading IT services, consulting, and business solutions organization, today announced an eight-year partnership, with TCS taking on the role of Title Sponsor in 2014 of the premier long-distance athletic event in the world – the New York City Marathon. Beginning in 2014, the prestigious race will be called the TCS New York City Marathon and is a part of a year-round premier partnership between TCS and NYRR to provide support for the NYRR 5-Borough Series and key heritage events, as well as year-round youth and community-focused events and programs, starting November 5, 2013.

The new global partnership—fueled by movement and empowered by technology—is built on a shared commitment to elevating the health and well-being of individuals and embodies TCS’s historical dedication to strongly supporting the communities in which it operates. The spark of this joint “movement” starts today in New York City, driven by TCS’s digital, financial, strategic, and marketing support of NYRR events and programs, most notably a goal to make the New York City Marathon the most technologically advanced and socially engaged marathon in the world.

“We are thrilled that TCS will be joining NYRR as our premier partner and title sponsor of the NYC Marathon,” said Mary Wittenberg, president and CEO of New York Road Runners. “TCS won us over with their commitment to our sport and to elevating the health and well-being of our community, their technological excellence and their belief in the infinite potential in front of us to jointly help and inspire people through running.”

“We are delighted to be the title sponsor of the New York City Marathon from 2014. This partnership presents a great way for us to accelerate our engagement with communities in the New York area and across North America to raise awareness about health and fitness. Starting in 2014, we also aspire to make the TCS New York City Marathon a more technology-enriched and socially engaged experience for all its participants and fans across the world, using our core technology skills,” said Natarajan Chandrasekaran, CEO and managing director of TCS.

He added: “As a marathoner myself, I’m personally proud to partner with the NYRR team to support the world’s most prestigious marathon as well as many year-round events and community programs across the five boroughs of New York. This partnership will also help us project the awareness and understanding of the TCS brand and its values beyond our core audiences and into the communities where we operate, not only in North America but globally.”

With TCS, NYRR unveiled today the new logo for the 2014 Marathon, designed to commemorate the unprecedented new partnership and to provide an iconic uplifting symbol for the race. The new logo represents both organizations' forward-thinking, community-focused vision.

NYRR’s “Run for Life” manifesto champions the benefits of a lifetime of running, and is closely aligned with TCS’ Fit4Life program, which is built on the philosophy that “healthy individuals make healthy organizations.” Fit4Life, in natural alignment with NYRR’s “Run for Life” philosophy, is realized through the active engagement of employees and their families with local charities.

TCS has been a technology consulting partner for NYRR since 2010. It previously developed mobile apps for the 2013 NYC Half and will create a new app for the 2013 Marathon, helping participants to track runners and to receive race results, information on the event, and tips for training. As part of the new partnership, beginning on November 5, 2013, TCS will be a principal sponsor of each of NYRR’s major five borough events and its key heritage events, including the Oakley New York Mini 10K, the Fifth Avenue Mile, and the Midnight Run, and will support NYRR’s youth and community programs.

INTERNAL COLLABORATION WITHIN ENTERPRISES DRIVES GREATER BENEFITS FROM PUBLIC SOCIAL MEDIA INVESTMENTS

Organizational silos are limiting the business benefits of social media, according to TCS Global Trend Report

Since 2010, 64% of enterprises1 have assigned at least one full-time equivalent (FTE) to use public social networks – such as Facebook, Twitter and LinkedIn.

Despite investment, only about 10% of enterprises have generated significant improvements2 in multiple areas of their business.

Marketing most often3 owns social media; but only 42% of enterprises say their organizational structure for social media is effective or highly effective.

Leaders4 in social media invest in producing their own digital content; 81% have corporate blogs, 77% have mobile apps for consumers who use social media, and 61% have online video channels.

Mumbai, October 1, 2013: Only 10% of the enterprises are realizing significant improvements to their business as a result of social media investments. Despite the hype and increased investments, it seems that enterprises are still struggling to make the most of social media, according to a global trend report published today by Tata Consultancy Services (BSE: 532540, NSE: TCS), a leading IT services, consulting and business solutions organization.

Titled Mastering Digital Feedback: How the Best Consumer Companies Use Social Media, the research shows that while social media is being taken seriously by most enterprises – more than two thirds have at least one FTE committed to social media, and the average company will spend $19 million on it and employ 56 people – significant benefits are not being achieved, most commonly with information not reaching the right functions.

Satya Ramaswamy, Vice President and Global Head, Digital Enterprise, TCS, comments, “Despite the ready availability of digitized consumer-to-consumer interactions in social media, its use by companies is today largely limited to being a mechanism for B2C marketing. It is time enterprises took a multi-layered approach to social media and learnt to harness its power across the enterprise in critical revenue drivers such as new product design by incorporating feedback from social media in these important business functions. Breaking down the organizational silos is key to realizing the full power of social media. In other words, organizations need to be social and share internally to really use the power of social media externally.

Other significant findings from the research include the following:

Only 27% of R and D/product development and 37% of product management departments regularly view social media comments from consumers. This is partly because the social media activity is most commonly owned by marketing, customer services and sales. The result of siloed ownership is that only 42% of the enterprises view their organizational structure for social media activities as effective or highly effective.

Leaders spend an average of $28 million on social media activity; twice as much as followers5. Leaders also go beyond just having company pages on social networks; 81% have corporate blogs, 77% have mobile apps for consumers who use social media, and 61% have online video channels.

Despite only a small percentage of the enterprises seeing significant business benefits, businesses are often getting a positive ROI for social media activity, 38%; that is more than double the number of companies with a negative ROI. However, 44% of enterprises have not measured ROI at all.

The media and entertainment industry has the highest percentage of companies that have been using social media the longest to engage with consumers; most insurance companies are relatively new to social media.

Maturity correlates with how effective enterprises are at breaking down silos, a key factor in successful social media activity. Media and entertainment enterprises are least likely to centralize activity; whereas new comers to social media like travel, high-tech and telecoms enterprises are most likely to decentralize their social media activity.

The TCS Global Trend Report on social media surveyed 655 enterprises globally with average revenues of $15.6 billion and is the fourth TCS global trend report in the series.

Footnotes:

1 Average revenue of $15.6 billion; a median of $4.9 billion.

2 The way they market, sell, provide customer service after the sale, develop new products and services, and identify and make corrections to their current offerings, to name a few.

3 In about one-third of companies, marketing controls social media activities – a much higher percentage than any other function.

4 Respondents whose answers to a question asking them to evaluate the benefits they’ve achieved in 16 domains (marketing, sales, service, product innovation and others) put them in the top third in terms of total benefits.

5 Respondents whose total benefits in the 16 areas landed them in the bottom third of benefits achieved.

TCS RECOGNIZED AMONG GLOBAL LEADERS IN 2013 DOW JONES SUSTAINABILITY WORLD INDEX

TCS ranked in the 90th percentile, as rated by S and P Dow Jones and RobecoSAM

Mumbai, September 30, 2013: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading IT services, consulting, and business solutions organization, today, announced further global recognition of its corporate sustainability practices, being ranked in the 90th percentile of the 2013 Dow Jones Sustainability World Index (DJSI World). The DJSI analyses the top 10% of global organizations leading the field in sustainability, specifically assessing their economic, environmental and social business performance.

“DJSI is an internationally recognized indicator of sustainability for all stakeholders. TCS’ inclusion in the DJSI highlights our company’s commitment toward sustainability,” said Dr. Joy Deshmukh Ranadive, Global Head, Corporate Social Responsibility, TCS.

Established in 1999, as the first ever family of global sustainability benchmarks, the Dow Jones Sustainability Indices (DJSI) have become a reference point in Sustainability Investing. Launched jointly between SandP Dow Jones Indices and RobecoSAM, DJSI World tracks the performance of the top 10% of the 2500 largest companies in the S and P Global Broad Market IndexSM that lead the field in terms of sustainability. These 2500 companies represent the eligible universe for the DJSI World and are assessed using the Corporate Sustainability Assessment on an annual basis.

“Sustainability is the cornerstone of business culture in TCS. We are delighted to receive this global recognition from DJSI,” said Ajoy Mukherjee, Global Head and VP, Human Resources, TCS.

The DJSI annual review is based on a thorough analysis of corporate economic, environmental and social performance. The review assesses issues such as corporate governance, risk management, branding, climate-change mitigation, supply chain standards and labor practices. It accounts for general as well as industry-specific sustainability criteria for each of the 57 sectors defined according to the Industry Classification Benchmark.

TCS NAMED IN FORBES’ WORLD’S MOST INNOVATIVE COMPANIES LIST

TCS Ranked as Highest Global IT Services Company

Mumbai, September 27, 2013: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading IT services, consulting and business solutions organization, today, announced that it has been recognized by Forbes as one of the World’s Most Innovative Companies. TCS ranked 40th overall, making it not only the highest ranked IT services company to make it to the list, but also the top Indian company.

“To be included in the upper echelons of Forbes’ World’s Most Innovative Companies list is a tremendous honor for me, our employees and our company,” said N Chandrasekaran, CEO and MD, TCS. “As a global company, we pride ourselves on our ability to think creatively, deliver cutting-edge solutions and strategically customize our offerings to meet global needs on a local level.”

TCS has a longstanding history of delivering innovative solutions to its customers. The company set up its first RandD lab in 1981, when the technology industry in India was just taking shape. There is a strong culture of innovation with multiple innovation labs for every industry that TCS works with. The company has multiple academic partnerships and a global network of Innovation Labs that provide an environment for sophisticated research in leading-edge technologies, and various domains ranging from life sciences and insurance to retail and financial services.

Furthermore, TCS’ Co-Innovation Network (COIN™) provides value to its customers across the entire technology and business landscape, forging and nurturing bonds with academic institutions, start-ups, venture funds, strategic alliance partners, multilateral organizations and TCS’ customers.

TCS attracts the best talent to its labs by investing its resources in systems, software and applications research, and collaborating with technology partners and universities such as The Massachusetts Institute of Technology, University of California at Berkeley, Stanford University, Singapore Management University, Indian Institutes of Technology, and the Indian Institute of Science.

SAUDI ARAMCO, GE AND TCS ANNOUNCE THE FIRST ALL-FEMALE SERVICES CENTER FOR BUSINESS PROCESSES IN SAUDI ARABIA

Initiative supports the Kingdom’s industry localization plans and creates new jobs in finance and accounting, HR, IT and supply chain management services

Dhahran, Saudi Arabia; September 24, 2013: Saudi Aramco, GE and Tata Consultancy Services (TCS) announced today the launch of the first all-female business process services center in Riyadh, Kingdom of Saudi Arabia. The center will be staffed by Saudi females with TCS and GE owning 76% and 24% equity in the new venture, which will initially serve Saudi Aramco and GE as anchor clients.

The collaboration of the three companies underscores their strong commitment to support Saudi Arabia’s localization strategies to diversify the Kingdom’s economy and enable the growth of a viable employment sector.

The new business process services center will serve as a building block to localize the Business Process Outsourcing (BPO) industry in the Kingdom. The three partners will work together with the intention of scaling up the new venture to create up to 3,000 jobs for Saudi professional females. GE will create up to 1,000 employment opportunities for this initiative.

HE Abdullatif A Al-Othman, Governor, Saudi Arabia General Investment Authority, delivered a keynote speech at the launch ceremony in Dhahran, headquarters of Saudi Aramco. The event was also addressed by Khalid A Al-Falih, President and CEO, Saudi Aramco; Jeffrey Immelt, Chairman and CEO, GE; Cyrus Mistry, Chairman of the Tata Group, and N Chandrasekaran, CEO and Managing Director, TCS.

The center brings a unique business model to Saudi Arabia and is set to become a rich training ground for building new capabilities, skills and careers for Saudi females. It will employ skilled graduates in the areas of finance, accounting, human resources management and supply chain management services.

In highlighting Saudi Aramco’s strategic intent, Khalid A Al Falih, President and CEO, Saudi Aramco, said, “We are helping to build the nation’s capacity as it moves toward a knowledge economy by maximizing local content, adding value through integrated industrial parks, and promoting economic diversification and entrepreneurship. In light of the demographic realities, this comprehensive framework offers a winning formula to create jobs.”

Describing the importance of business process services to the services industry, Al Falih added, “In addition to the array of manufacturing and industrial jobs, services are an even bigger creator of wide ranging employment through an extensive range of office functions. In recent decades, the world, including Saudi Arabian enterprises, has been outsourcing these functions offshore. It’s time to bring those jobs home.”

The center will help corporations in the Kingdom take advantage of a globally accepted business and operating model, which allows business to focus on core competencies. It will provide support knowledge and industry-specific services with TCS’ globally recognized integrated delivery processes and best-in-class execution.

GE’s Chairman and Chief Executive Officer, Jeffrey Immelt, said, “GE is committed to partnering with the Kingdom in helping to achieve their social and economic growth aspirations and goals. Today, Saudi Arabia is placing high emphasis on creating jobs for its youth and women and we are proud to be supporting female employment opportunities in the Kingdom, offering placement opportunities and world-class training programs.”

Initially providing services to anchor clients, Saudi Aramco and GE, the center will eventually expand its customer base to other companies and institutions across the Kingdom. In due course, GE and TCS will also work with leading Saudi universities and educational institutions to launch specialized training programs to achieve further job creation goals.

Cyrus Mistry, Chairman of the Tata Group, said, “The Tata Group has a long history of encouraging women to achieve their potential and contribute to the community and we are delighted to work with Saudi Aramco and GE to help provide careers for women in the Kingdom and enable them to contribute to its economic progress. Saudi Arabia is a focus market for the Tata Group where we have built strong partnerships and this ambitious initiative is an example of our commitment to this market.”

N Chandrasekaran, CEO and MD, TCS, said, “This unique initiative will leverage a new talent pool in the Kingdom to meet the business needs of corporations in the region. It is an example of our long-term commitment to this market. By drawing on our proven global expertise in business process services, our ability to partner with corporations as well as develop talented professionals, we will help achieve the goals of this pioneering venture.”

TCS, today, delivers business process services from 20 service locations in over 10 countries including China, Philippines, India, Hungary, United Kingdom, Chile, Ecuador, Uruguay, Mexico and the United States.

STRONG VOLUMES DRIVE ANOTHER STELLAR QUARTER

Revenue at Rs.179870.000 Millions up 9.5% Q-o-Q; up 21% Y-o-Y

• Net income at Rs.38310.000 millions up 9.5% Q-o-Q; up15.5% Y-o-Y
• Volume growth at 6.10%

Mumbai, July 18, 2013: 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 US Dollars for the quarter ended June 30, 2013.

Financial Highlights for Quarter Ended June 30, 2013

• Operating profit at Rs.48470.000 millions up 18.9% Y-o-Y; up 12.0% Q-o-Q
• Operating Margin at 26.9%
• Dividend per share of Rs.4

Business Highlights for Quarter Ended June 30, 2013

• Gross addition of 10,611 Employees
• High utilization rates at 82.7% (excluding trainees)
• Two new $100 million clients added

Commenting on the Q1 performance, Chief Executive Officer and Managing Director, N Chandrasekaran said: “We have delivered another solid quarter, driven by the highest volume growth in the past seven quarters. It has been an all-round performance with strong revenue growth across markets led by the US. Our investments in Europe continue to gain strong traction with customers and helped us deliver industry-leading growth this quarter.”

Chandrasekaran added: “Strong momentum in our business, the right cost structure, a customer-centric approach and our increasing investments in new digital solutions and services positions us well to post another year of strong business growth.”

Rajesh Gopinathan, Chief Financial Officer, said: “The current environment demands an agile operating model that can capture diverse growth opportunities. We continue to execute to plan and invest for growth, while maintaining stability in our margin profile.”

Growth in Q1 was holistic. Growth was seen across all industry segments led by Life Sciences, Retail, Telecom and BFSI. There was balanced growth across IT and other service lines led by Assurance, EiS, Global Consulting and Asset Leveraged Solutions. Major markets grew smartly led by USA, Europe and UK alongside growth in emerging markets like Latin America and Asia Pacific.

During the quarter, TCS closed the acquisition of Alti, one of the top 5 system integrators of SAP solutions in France with several top French corporations in the banking, financial services, luxury, manufacturing and utilities sectors as its key customers.

Select Key Wins

• Engaged by Department of Post as their central transformation system integrator. TCS is providing common infrastructure for eight large modernisation programs, transforming the core mail operations for DoP as well as back office operations like HR and F and A, making services easily accessible through internet and mobile devices for citizens and postal workers
• Engaged by a leading Nordic airlines in an end-to-end IT outsourcing contract to deliver IT infrastructure services, application development and management and drive innovation to help the airline in its transformational journey
• Selected by a global aerospace major as a strategic partner in the IT application services space
• Won a transformation deal in assurance services to drive efficiency and innovation in testing for a large health services organization in North America
• Chosen as a strategic partner by leading North American communications provider to provide holistic assurance solutions across their entire IT estate in a managed services mode
• A large Asia-Pacific conglomerate has awarded TCS a back-office transformation deal.
• Selected as a strategic partner and awarded a contract for application development and infrastructure support by a leading North American supplier of maintenance, repair and operating products.
• A North American based global financial services company has awarded TCS an engagement covering application development, maintenance and assurance of their core banking and enterprise systems.
• A North American based global financial services company has awarded TCS a large managed services engagement for its cards platform

Key Wins in Digital Services and Solutions

• An Asia Pacific bank has selected TCS Hy5 Presidio™ Mobile Device Management product for deployment on Android devices
• A global pharmaceutical company has selected TCS Hy5 Canvas™ Mobile Application Development Platform for development of its enterprise mobile applications
• A North American financial services company has selected TCS Hy5 Test™ Mobile Application Testing platform as the sole tool to test their mobile applications
• An Asia Pacific based financial services company has selected TCS iAgent™ mobile insurance agent solution for its agents
• Won an engagement to develop and integrate HR applications on tablet devices from a global pharmaceutical major
• Won an engagement to develop a tablet based system to optmize sales force activities from a North American medical device manufacturer
• Won an engagement to develop a mobile application for providing users with detailed information and search capability on Indian Law for a major provider of Information Services
• Won an engagement for a multi-year data warehouse transformation project using Big Data tools from a major financial services company
• Won an engagement from a major North American bank to implement a customer relationship discovery platform that enables financial advisors to manage and cross-sell and up-sell opportunities
• Won an engagement to develop a device log analytics platform using Big Data from a major computer equipment manufacturer
• Won engagements from a major North American bank, a global Consumer Packaged Goods company and a North American insurer to define their Big Data technology strategy and roadmap
• Won an engagement to transform their legacy batch processing systems using Big Data technologies for a major North American retailer
• Won an engagement to implement security for the Big Data platform for an Asia Pacific bank

Key Wins in Products/Platforms:

• A European Insurance firm selected TCS BaNCS for their integrated insurance platform
• An Asia-Pacific bank selected TCS BaNCS Corporate Actions solution
• A Latin American bank selected TCS BaNCS Corporate Actions solution
• An African financial institution selected TCS Market Infrastructure platform for additional asset classes
• TCS Analytics Platform was selected by an European airline
• TCS Sourcing platform was selected by an Asian consumer company

Innovation and Intellectual Property:

As of June 30, 2013, the company has applied for 1340 patents including 60 applied during the quarter. Till date, the company has been granted 90 patents.

Human Resources: Gross Additions 10,611 and Net Additions 1,390

The company continued to hire to support business growth. There was a total gross addition of 10,611 people (net addition of 1,390) taking the total employee strength of 277,586 on a consolidated basis. The utilization rate (excluding trainees) was at 82.7% and that including trainees was 72.5%. The attrition rate (LTM) dropped further sequentially to 10.52 per cent including BPO. The attrition rate in IT was at 9.55 per cent, while BPO attrition was higher at 15.77 per cent.

“We have been able to push our utilization rates further. The on-boarding of current year’s engineering graduate trainees will start from this quarter onwards,” said Ajoy Mukherjee, Executive Vice President and Global Head,

Human Resources.

Awards and Recognition: Business Leadership:

• Most Admired Company - Fortune India
• Business Leader in Information Technology - NDTV Profit Leadership Awards
• Top 10 Companies with the Best Business Outlook – Glassdoor
• Innovative Enterprise Solution - CA World
• IT Outsourcing Company of the Year – Belgium

Partner:

• 2013 SAP® Pinnacle Award
• System Integrator Partner of the year – Netapp
• Microsoft Supplier of the Year – 2013

Sustainability:

• Innovation and Best HR Practices in Human Capital – TCS Uruguay
• Best Volunteering Company – TCS Equador
• Business Leader in Corporate Social Responsibility - NDTV Profit Leadership Awards
• Company with Best Social Service Practices – TCS Equador

Leadership:

• N Chandrasekaran, CEO was named:

° “Business Visionary” at NDTV Profit Leadership Awards 2012

° One of STEMconnector’s “100 CEO Leaders in STEM”

° “Management Man of the Year 2013” Award -Bombay Management Association

Consolidated Statement of Profit and Loss for the quarter ended June 30, 2013, March 31, 2013 and June 30, 2012

(Rs. In Millions)

	Quarter ended June 30, 2013	Quarter ended March 31, 2013	Quarter ended June 30, 2012
INCOME
a) IT & Consultancy Services	175520.000	158510.000	145210.000
b) Manufacturing, Sale of equipment and Licences	4350.000	5790.000	3480.000
Total Income	179870.000	164300.000	148690.000
EXPENDITURE
a) Salaries & Wages	69650.000	62450.000	57070.000
b) Overseas business expenditure	24980.000	22620.000	20630.000
c) Other operating expenses	33800.000	33060.000	27750.000
Total Expenditure	128430.000	118130.000	105450.000
Profit Before Interest, Depreciation, Taxes & Other Income	51440.000	46170.000	43240.000
Interest	70.000	190.000	60.000
Depreciation	2970.000	2900.000	2470.000
Profit Before Taxes & Other Income	48400.000	43080.000	40710.000
Other income (expense), net	2590.000	4430.000	1860.000
Profit Before Taxes	50990.000	47510.000	42570.000
Provision For Taxes	12260.000	10930.000	8990.000
Profit After Taxes & Before Minority Interest	38730.000	36580.000	33580.000
Minority Interest	420.000	420.000	400.000
Net Profit	38310.000	36160.000	33180.000
Earnings per share in Rs.	19.54	18.46	16.92

Consolidated Balance Sheet as at June 30, 2013 and March 31, 2013

(Rs. In Millions)

	As at June 30, 2013	As at March 31, 2013
Source of Funds
Shareholders' Funds	418240.000	386460.000
'Minority Interest	7170.000	6950.000
Loan Funds	2960.000	2110.000
Deferred Tax Liability	2740.000	2350.000
Non Current Liabilities	6460.000	7170.000
Total Liabilities	437570.000	405040.000
Application of Funds
Fixed Assets (net)	86370.000	81420.000
Goodwill	41380.000	35820.000
Deferred Tax Asset	3390.000	3100.000
Investments	33450.000	18970.000
Cash and Bank Balance	68120.000	67690.000
Current Assets, Loans and Advances	265320.000	237000.000
Current Liabilities and Provisions	139470.000	115850.000
Net Current Assets	193970.000	188840.000
Non Current Assets	79010.000	76890.000
Total Assets	437570.000	405040.000

TCS ACQUIRES FRENCH IT SERVICES FIRM ALTI FOR RS 5300.000 MILLIONS

PTI April 10, 2013

BANGALORE: Tata Consultancy Services has bought French technology services company Alti SA for over 75 million euro (Rs 5300.000 Millions) in a deal aimed at giving India's largest software company an extra edge in the crucial European market. The all-cash deal will help TCS win more business from corporations in markets such as Germany and France as they slowly warm up to greater off shoring to cut costs, analysts said.

"This acquisition underlines our long-term, strategic commitment to France, which is the third-largest IT services market in Europe. The acquisition of Alti SA will help us serve our clients in France and across Europe more comprehensively with an expanded set of services and solutions," said N Chandrasekaran, TCS managing director and chief executive officer. Shares of TCS ended 1.1% up at Rs 1497.30 on the Bombay Stock Exchange, whose benchmark Sensex index fell by 1.15%.

France represents an opportunity of about 30 billion euro, according to TCS. After the US, Indian IT companies earn the most revenue from Europe. However, they have been unable to make sufficient inroads into markets such as Germany and Europe because of cultural and language barriers. According to sourcing advisors, none of the Indian IT companies is ranked among the top 20 in either of those markets.

Alti, which has about 1,200 employees, counts Banque de France (French central bank), BNP Paribas, Credit Agricole, and Societe Generale among its clients in banking sector besides others such as Air France, L'Oreal and telecom company Orange.

"This is a good move that will help TCS increase its visibility in those markets and win some large accounts, especially in the financial sector," said Biswajit Banerjee, senior analyst at Pierre Audoin Consultants, a French consultancy and market research firm.

Last year, Infosys acquired Swiss consulting company Lodestone for $350 million (Rs 19000.000 Millions) while Cognizant Technology Solutions Corp acquired six small IT services companies that were part of Germany's C1 Group for an undisclosed sum. Europe contributed a little under 30% of India's $76 billion software services exports in the year to March 2013, with most of it coming from the UK and the Nordic region.

TCS has been operating in France since 1992 and earns roughly 27% of its $10.2 billion revenue from the Europe market.

TCS EARNS A TOP-RANKING PLATINUM BIG TICK FOR CORPORATE RESPONSIBILITY

TCS has successfully earned Platinum Big Tick status in Business in the Community’s (BITC) 2013 Corporate Responsibility Index (CR Index). The award, the highest ranking within the index, represents TCS’ commitment to improving its corporate responsibility throughout its business operations.

London, April 22, 2013: Tata Consultancy Services (BSE: 532540, NSE: TCS), a leading IT services, consulting and business solutions company, today, announced it has successfully earned Platinum Big Tick status in Business in the Community’s (BITC) 2013 Corporate Responsibility Index (CR Index). The award, the highest ranking within the index, represents TCS’ commitment to improving its corporate responsibility throughout its business operations.

The CR Index is the UK’s leading and most in-depth voluntary benchmark of corporate responsibility. Run by BITC for over a decade, the annual index enables companies to accurately manage and measure all aspects of their social and environmental performance, as well as benchmark themselves against competitors.

The Platinum Big Tick status is a new banding introduced for this year’s index and is designed to acknowledge companies that have displayed a clear, long-term business strategy and demonstrated the contributions their company can make to create transformational change and help create a sustainable economy. Achieving the award shows that TCS has considered how global trends such as population growth and resource scarcity will affect its future business strategy and that the company is actively embedding responsible values throughout its workforce, as well as investing in new products and services to improve its environmental and social status.

Shankar Narayanan, Country Head, UK and Ireland, TCS, commented, “We are proud to have been awarded a Platinum Big Tick by the BITC. At TCS, we work hard to ensure all our practices operate in a manner that both minimizes our impact on the environment and aides local communities in the areas we work. Achieving this status in this year’s CR Index confirms our company ethos is on the right track and we will continue making the necessary investment to tackle further global trends that may impact our business.”

Stephen Howard, Chief Executive, BITC, said, “I congratulate TCS for achieving the Platinum Big Tick band because it signifies a key step on the journey, a willingness to rise to the challenge and that they are part of a movement of responsible business in which all companies have their unique part to play. We look forward on working with, supporting, and challenging TCS to build on this achievement as we, together, drive the transformational change needed to deliver a sustainable economy.”

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

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 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. 61.69
UK Pound	1	Rs. 99.20
Euro	1	Rs. 83.69

INFORMATION DETAILS

Information Gathered by :	JML
Report Prepared by :	VRN

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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	YES
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
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	--

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.