MIRA INFORM REPORT
|
Report Date : |
07.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
TATA CONSULTANCY SERVICES LIMITED TCS E-SERVE LIMITED AMALGAMATED WITH TATA CONSULTANCY SERVICES LIMITED |
|
|
|
|
Registered
Office : |
9th Floor, Nirmal Building, Nariman Point, Mumbai - 400021,
Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
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 : |
AAA (87) |
|
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 |
|
Maximum Credit Limit : |
USD 1302490000 |
|
|
|
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
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.
Financial position of the company appears to be strong and healthy. Trade relation reported to be trustworthy. Business is active.
Payments are reported to be regular and as per commitment. The company can be considered good for business dealing at usual trade
terms and conditions. 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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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
The worst is over for India’s economy with gross domestic product likely
to expand 5 %to 5.5 % this year and more than 6 % in 2015, according to Moody’s
Analytics. Concerns over the rupee and current account deficit are under control,
said the agency. Ratings firm Crisil has forecast 6 % growth for 2014/15 up
from the estimated 4.8 % for 2013/14. Total economic growth,
infrastructure bottlenecks and lack of transparency and consistency in foreign
direct investment policies seem to have taken a toll on India’s attractiveness
as an investment destination, says an Ernst & Young survey. Projects
with FDI component fell 16.4 % across the globe in 2012 from the previous
year. The drop in India was steeper at 21 %. State run carrier Air India
is doling out free tickets to its 24000 employees, even as it expects to incur
a loss of Rs 39000 mn this financial year and has a debt of Rs 350000 mn.
550000 number of jobs generated across India in 2013, a fall of 0.4 % as
compared to with a year earlier. The National Capital Region has a
one-fourth share in total jobs created, according to a study by industry lobby
group Assochem, Banks, real estate, automobile and telecommunications sectors
are showing a rise of job creation. $ 805 mn investments by venture capital
firms in India during 2013, registering a drop of about 18 % over the previous
year. The Information Technology and IT-Enabled Services Industry
retained its status as the favourable venture capital investors in 2013.
Pakistan has temporarily banned gold imports for the second time in six months,
as it tries to stem smuggling into India. India’s import duty on gold is 10 %
and curbs on purchases have dried up legal imports into what used to be the
world’s biggest bullion buyers. The World Gold Council puts the amount smuggled
into India at upto 200 tonnes in 2013. The Reserve Bank of India has proposed
that unclaimed bank deposits estimated to be about Rs 35000 mn be used for
education and awareness among depositors. According to the plan, deposits
that have not been claimed for at least 10 years will be transferred to the
scheme.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
AAA (Fund Based Limit) |
|
Rating Explanation |
Highest credit quality and lowest credit risk
|
|
Date |
October, 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
A1+ (Non-Fund Based Limit) |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk. |
|
Date |
October, 2013 |
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 DECLINED BY
|
Name : |
Mr. Harshad Pawar |
|
Designation : |
Account Manager |
|
Contact No.: |
91-22-61327902 |
|
Date : |
01.04.2014 |
LOCATIONS
|
Registered Office : |
9th Floor, Nirmal Building, Nariman Point, Mumbai – 400
021, Maharashtra, India |
|
Tel. No.: |
91-22-67789595 |
|
Fax No.: |
91-22-67509333 / 67789660 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office / Regional Office 1 : |
TCS House, |
|
Tel. No.: |
91-22-67789999 |
|
Fax No.: |
91-22-67789000 |
|
E-Mail : |
|
|
|
|
|
Regional Office 2 : |
Vidyasagar Building, Raheja Township, Near Sai
Baba Mandir, Malad (East), |
|
Tel. No.: |
91-22-6779 8585 |
|
Fax No.: |
91-22-6779 8546 |
|
|
|
|
Regional Office 3 : |
Rajiv Gandhi, Salai No. 11, Thoraipakkam, Chennai - 600096, Tamilnadu, India |
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: |
|
|
|
|
|
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: |
|
|
|
|
|
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: |
|
|
|
|
|
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: |
|
|
|
|
|
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: |
|
KEY EXECUTIVES
|
Name : |
Mr. Suprakash Mukhopadhyay |
|
Designation : |
Company Secretary |
|
|
|
|
Name : |
Mr. Nishit Marwah |
|
Designation : |
Vice President of Finance |
|
|
|
|
Management Team: |
|
|
Corporate: |
|
|
|
|
|
Geography Heads: |
|
|
|
|
|
Marketing : |
Mr. John Lenzen |
|
|
|
|
Corporate
Communication : |
Ms. Pradipta Bagchi |
|
|
|
|
Research and
Development : |
Mr. K. Ananth Krishnan |
|
|
|
|
Human Resources
: |
|
|
|
|
|
Legal : |
Mr. Satya Hegde |
|
|
|
|
Finance : |
|
|
|
|
|
Chief Compliance
Officer : |
Mr. Ravindra J Shah |
|
|
|
|
Security : |
Mr. R. K. Raghavan |
|
|
|
|
Industry Service
Units: |
|
|
|
|
|
Banking and
Financial Services : |
|
|
|
|
|
|
|
|
Insurance and
Healthcare |
|
|
|
|
|
Life Sciences, Energy,
Resources and Utilities and Manufacturing : |
|
|
|
|
|
Telecom, Media and
Hi-Tech : |
|
|
|
|
|
Retail and CPG and
Travel and Hospitality : |
|
|
|
|
|
Government : |
Tanmoy Chakrabarty |
|
|
|
|
Strategic Growth
Units: |
|
|
|
|
|
TCS Financial
Services, iON, Small and Medium Business and Platform BPO : |
|
|
|
|
|
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 31.12.2013
|
Category of
Shareholder |
No. of Shares |
% of No. of
Shares |
|
|
(A) Shareholding of Promoter and Promoter Group |
|||
|
|
|
|
|
|
|
1445833486 |
73.81 |
|
|
|
1607624 |
0.08 |
|
|
|
1607624 |
0.08 |
|
|
|
1447441110 |
73.90 |
|
|
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
1447441110 |
73.90 |
|
|
(B) Public Shareholding |
|||
|
|
|
|
|
|
|
23251013 |
1.19 |
|
|
|
451753 |
0.02 |
|
|
|
277560 |
0.01 |
|
|
|
79114898 |
4.04 |
|
|
|
319866373 |
16.33 |
|
|
|
422961597 |
21.59 |
|
|
|
|
|
|
|
|
8090998 |
0.41 |
|
|
|
|
|
|
|
|
64223979 |
3.28 |
|
|
|
14047714 |
0.72 |
|
|
|
1962581 |
0.10 |
|
|
|
878885 |
0.04 |
|
|
|
1083668 |
0.06 |
|
|
|
28 |
0.00 |
|
|
|
88325272 |
4.51 |
|
|
Total Public shareholding (B) |
511286869 |
26.10 |
|
|
Total (A)+(B) |
1958727979 |
100.00 |
|
|
(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) |
1958727979 |
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 : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
Document processing systems |
45000 |
4314 |
GENERAL INFORMATION
|
Customers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
No. of Employees : |
238583 (Approximately) |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||||||||
|
|
|
|
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.2958.728 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 |
a) 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.
b) 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 |
c) 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% |
d)
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.
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 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2013 |
30.09.2013 |
31.12.2013 |
|
Type |
1st Quarter |
2nd Quarter |
3rd Quarter |
|
Net Sales |
139440.800 |
166077.200 |
166926.500 |
|
Total Expenditure |
97742.500 |
108592.700 |
109134.600 |
|
PBIDT (Excl OI) |
41698.300 |
57484.500 |
57791.900 |
|
Other Income |
2750.800 |
15136.300 |
6531.300 |
|
Operating Profit |
44449.100 |
72620.800 |
64323.200 |
|
Interest |
50.200 |
98.300 |
40.000 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
PBDT |
44398.900 |
72522.500 |
64283.200 |
|
Depreciation |
2264.300 |
2617.400 |
2803.600 |
|
Profit Before Tax |
42134.600 |
69905.100 |
61479.600 |
|
Tax |
9157.100 |
13827.600 |
13712.000 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
32977.500 |
56077.500 |
47767.600 |
|
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 |
32977.500 |
56077.500 |
47767.600 |
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 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
2957.200 |
2957.200 |
2957.200 |
|
Reserves & Surplus |
192837.700 |
245609.100 |
322665.300 |
|
Net
worth |
195794.900 |
248566.300 |
325622.500 |
|
|
|
|
|
|
long-term borrowings |
363.300 |
962.300 |
831.000 |
|
Short term borrowings |
0.000 |
0.000 |
800.200 |
|
Total
borrowings |
363.300 |
962.300 |
1631.200 |
|
Debt/Equity
ratio |
0.002 |
0.004 |
0.005 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
292754.100 |
381042.300 |
484261.400 |
|
|
|
30.158 |
27.089 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
292754.100 |
381042.300 |
484261.400 |
|
Profit |
75699.900 |
109759.800 |
127863.400 |
|
|
25.86% |
28.81% |
26.40% |
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 |
Yes |
|
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 |
|
LITIGATION DETAILS |
|||||||
|
Bench:- Bombay |
|||||||
|
Lodging No.: |
ITXAL/318/2013 |
Failing Date:- |
20/02/2013 |
Reg. No.:- |
ITXA/1132/2013 |
Reg. Date:- |
10/05/2013 |
|
Petitioner:- |
THE COMMISSIONER OF INCOME TAX |
Respondent:- |
TATA CONSULTANCY SERVICES LIMITED |
||||
|
Petn.Adv:- |
PADWA DIVAKAR |
Resp. Adv : |
|
||||
|
District:- |
MUMBAI |
||||||
|
Bench:- |
DIVISION |
Category:- |
Tax Appeals |
||||
|
Status:- |
Pre-Admission |
Stage:- |
FOR DIRECTION |
||||
|
Next Date:- |
11/04/2014 |
|
|
||||
|
Coram:- |
ACCORDING TO SITTING LIST ACCORDING TO SITTING LIST |
||||||
|
Last Date:- |
19/03/2013 |
||||||
|
Last Coram:- |
HON’BLE SHRI JUSTICE J.P. DEVADHAR HON’BLE SHRI JUSTICE M.S. SANKLECHA |
||||||
|
Act:- |
Income Tax Act, 1961 |
Under Section : 260 A |
|||||
|
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 |
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. |
||
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
90160634 |
30/08/2004 |
10,000,000,000.00 |
STATE BANK OF INDIA |
CORPORATE ACCOUNT GROUP BRANCH, VOLTAS HOUSE; J N HEREDIA MARG;
BALLARD ESTATE, MUMBAI, MAHARASHTRA |
- |
|
2 |
90160638 |
08/04/2004 |
3,000,000,000.00 |
THE HONGKONG AND SHANGHAI BANKING CO.LTD. |
52/60; MAHATMA GANDHI ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
- |
|
3 |
90214082 |
08/04/2004 |
3,000,000,000.00 |
THE HONG KONG AND SHANGHAI BANKING CORP. LTD.; |
MAHATMA GANDHI ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
- |
|
4 |
90160637 |
02/05/2003 |
3,500,000,000.00 |
STANDERD CHARTERED BANK |
23;25; M.G. ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
- |
|
5 |
90213963 |
15/03/2010 * |
4,200,000,000.00 |
STANDARD CHARTERED BANK |
90, M G ROAD,, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
A85014686 |
|
6 |
90214923 |
16/04/2012 * |
20,000,000,000.00 |
STATE BANK OF INDIA |
NEVILLE HOUSE, 3RD FLOOR, J. N. HEREDIA MARG, BALLARD
ESTATE, MUMBAI 400 001, MUMBAI, MAHARASHTRA |
B39026745 |
|
7 |
90198239 |
27/01/2003 |
5,000,000.00 |
STANDARAD CHARTERED BANK |
NO. 14; GENEVA HOUSE, CHINIGHAM ROAD, BANGALORE, KARNATAKA - 560052, INDIA |
- |
|
8 |
90199603 |
27/01/2003 |
50,000,000.00 |
STANDERD CHARTED BANK |
NO.14; GNEVA HOUSE, CUNNINGHAM ROAD, BANGALORE, KARNATAKA, INDIA |
- |
|
9 |
90213917 |
15/01/2003 |
2,800,000,000.00 |
ABN AMRO BANK |
14; VER NARIMAN ROAD, MUMBAI, MAHARASHTRA - 400023, INDIA |
- |
|
10 |
90160636 |
04/02/2009 * |
2,300,000,000.00 |
ABN AMRO BANK |
HANSALAYA BUILDING, 15 BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA |
A57408304 |
* Date of charge modification
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
TCS UK WINS GOLD
AWARD FOR ‘INNOVATION IN LEARNING’
London | Mumbai, February 25, 2014: Tata Consultancy Services (BSE: 532540, NSE: TCS), a leading IT services, consulting and business solutions organization, has been awarded the Gold Award in the ‘Innovation in Learning’ category at this year’s Learning Awards. TCS UK and Ireland won the accolade for showcasing the prototype of its mobile learning program, Project Midnight Sun, which was piloted in the UK.
The mobile-based learning program aims to help TCS employees prepare for a move to work in one of the company’s international offices. Country-specific interactive content teaches users about cultural nuances and the ‘dos and don’ts’ for the region. This helps them become effective ambassadors for TCS and their home country. The user-friendly program is available anytime, anywhere and includes offline content to ensure employees are able to access information consistently.
Nupur Singh Mallick, Head, HR, TCS UK and Ireland, commented, “TCS is a global company. We actively encourage our employees to get global exposure in a different geographies and this program helps them prepare for their move. Our team is crucial to TCS’ on-going success and growth, and supporting employee development is one of our primary objectives. The Gold Award from the Learning and Performance Institute is great recognition and we look forward to continuing the development of Project Midnight Sun and implementing it in more countries.”
“We encourage our employees to experience working in one of our international offices, and this program helps them to prepare to move to (a new) another country of which they may have no prior knowledge or acquaintance,” she added.
The annual awards ceremony was organized by the Learning and Performance Institute. The awards celebrate and honor progressive thinking in the learning sector and recognize companies and individuals that have demonstrated outstanding examples of high standards, best practice, innovation and excellence in developing learning solutions with a proven business impact.
About Tata
Consultancy Services Limited. (TCS)
Tata Consultancy Services is an IT services, consulting and
business solutions organization that delivers real results to global business,
ensuring a level of certainty no other firm can match. TCS offers a
consulting-led, integrated portfolio of IT, BPS,infrastructure, engineering and assurance
services. This is delivered through its unique Global Network Delivery
Model™,recognized as the benchmark of excellence in software development. A
part of the Tata group, India’s largest industrial conglomerate, TCS has over
290,000 of the world’s best-trained consultants in 46 countries.
TCS RANKED #1
MANUFACTURING INDUSTRY IT SERVICE PROVIDER IN EUROPE
London | Mumbai, February 24, 2014: Tata Consultancy Services (BSE: 532540, NSE: TCS), a leading IT services, consulting and business solutions organization, has been ranked top for overall capabilities in EMEA for manufacturing-specific outsourcing services. The study, conducted by leading analyst firm IDC, praised TCS for its ability to provide holistic support for large and diverse IT initiatives.
The report recognized TCS’ proven track record to design and implement systems for some of the region’s leading companies. TCS partners with manufacturers from a range of industries to help transform their existing business models and implement technology solutions. These solutions improve operations by reducing operational expenditure, utilizing existing capacity optimally, improving operating efficiencies across the value chain and improving the time-to-market for new product releases. Each solution is tailored to the partner company, ensuring each business can meet its objectives within the usual safety and regulatory parameters.
Milind Lakkad, Vice President and Global Head, Manufacturing Industry Solutions, TCS, commented, “Manufacturers are under growing pressure to reduce operational expenditure and increase efficiencies, while maintaining product quality and meeting safety and regulatory norms. The advent of next generation technologies is reshaping the nature and context of the industry, making it necessary for us to assess the content, structure and model of the current IT services space. We are devising innovative technological approaches to help businesses deliver process improvements, thus making the most of existing capacity and resources. We are delighted to be ranked as overall leader for capabilities in EMEA for manufacturing-specific IT services. IDC’s assessment demonstrates TCS’ strength for helping companies successfully transform entire IT operations to help make them more efficient.”
Pierfrancesco Manenti, Head - EMEA, IDC Manufacturing Insights, commented, “This report aims to help decision makers in the manufacturing industry best achieve their business goals by providing an independent view of the current performance of the leading IT vendors operating in EMEA. Throughout the research TCS has demonstrated an ability to deliver a complete range of services to European manufacturing enterprises, as also confirmed by TCS key manufacturing clients we interviewed.”
TCS is recognized as the overall leader when measured against five key processes and is the outstanding leader in manufacturing operations management. The report gathered insights through a combination of questionnaires and interviews with end-users and IT vendors. The assessment focused on the processes of most importance to the manufacturing industry in order to generate a sector-specific analysis to help manufacturers make more informed decisions. These key processes include supply chain management, product lifecycle management and engineering, manufacturing operations management, enterprise resource planning and customer relationship management.
TCS BELGIUM N.V./S.A
RANKED AS “TOP EMPLOYER 2014” FOR SECOND CONSECUTIVE YEAR IN BELGIUM
TCS Belgium NV / SA was rated among the top five employers in Belgium (out of 53 certified companies).
TCS was recognised by the Top Employer Institute for its exceptional performance across HR areas: Primary Benefits, Secondary Benefits, Working Conditions, Training and Development, Career development and Culture Management.
Amit Kapur, Regional Director of TCS Benelux: ”We are delighted to be ranked as the Top Employer for the second consecutive year. It’s been our continuous endeavour to invest in our employees who are the most valuable asset and provide them with a great work environment to excel. Additionally we push the envelope to match the global benchmarks in the areas Human Resources.”
TCS PARTNERS WITH
FINNISH WHEELCHAIR CURLING TEAM TOWARD SOCHI PARALYMPIC GAMES
- Finland has qualified for the first time in this category at the Paralympic Winter Games
- Part of TCS’ continuing community development program in Finland and across Europe
Helsinki | Mumbai, February 20, 2014: Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) the leading IT services, consulting, and business solutions organization, announced that it has partnered with the Finnish Wheelchair Curling Team, supporting the team in their quest for Olympic glory at the Paralympic Winter Games in Sochi (March 7-16, 2014). TCS will serve as partner to the team for a period of one year and provide support for the team toward their equipment, logistics and digital devices such as smartphones at Sochi.
The Finnish national team qualified for the 2014 Paralympics based on its performance at the 2013 World Wheelchair Curling Championships. This is the first time that Finland has qualified in this category at the Paralympics, making it one amongst the top 10 teams in the world vying for a medal at Sochi.
Team Captain Markku Karjalainen comments, “We were so pleased when we qualified back in 2013 and since then the team has worked even harder to ensure that we will deliver when it counts in Sochi. We are really excited about going and plan on making Finland proud! I am grateful to TCS (Incidentally also my employer) for their support at a crucial time in our preparations.”
TCS supports several worldwide community programs that promote skill development, sustainability, wellness and health. In Europe, it serves as the main partner to the Berlin Marathon and the TCS Amsterdam Marathon, helping raise crucial funds for cancer research. The company has recently launched another initiative in Finland to globalize Finnish innovation, by promoting five Finnish companies to showcase disruptive technologies in the Silicon Valley.
Ruchikar Dalela, Country Manager, TCS Finland, said, “It is an important part of our company’s values to support crucial community programs, hand in hand with the growth of our business presence in Finland. The Finnish wheelchair curling team is a great example of how it is possible to channelize your energies in the right direction, excelling in spite of great odds. It represents the very Finnish spirit called Sisu and it is TCS’ privilege to support this team as they head to Sochi. On behalf of the entire TCS community in Finland – our employees, clients and partners – we wish the team great success at Sochi and beyond.”
Tiina Kivisaari, Secretary General, Finnish Paralympic Committee, said, “The Sochi Paralympics involves over 700 athletes across 45 nations and this year, Finland has managed to qualify in a total of 5 out of 6 sports, sending more athletes to a Paralympics that we have ever before. With new sports and athletes joining, competition is growing and we see the interest in Paralympics rising. On behalf of the FPC, we are pleased with the support that this partnership offers, giving to the Wheelchair Curling Team additional means to bring home a gold medal from Sochi.”
About Wheelchair
Curling
Often described as ‘chess on ice,’ wheelchair curling is a sport which combines tactics and throwing skills. While wheelchair curling is very similar to regular curling, the main differences are that the team is mixed gender and rocks are thrown from a stationary wheelchair. There is no sweeping or brushing like in regular curling to adapt the movement of the stone – making it a game of physical performance and tact.
TCS MAINTAINS
MOMENTUM AND DELIVERS STEADY PERFORMANCE IN Q3
- International revenues grow 3.8% in dollar terms sequentially
- Hiring Target for FY14 increased further to 55,000 from 50,000
- Net Income at $ 858 million up 31.7% Y-o-Y
MUMBAI, January 16, 2014: Tata Consultancy Services (BSE: 532540, NSE: TCS), the leading IT services, consulting and business solutions firm reported its consolidated financial results according to IFRS US Dollars for the quarter ended December 31, 2013.
Business Highlights
for Quarter Ended December 31, 2013
- Gross employee addition: 14,663
- Total headcount: 290,713
- Utilization: 84.3% (excluding trainees) and 77.5% (including trainees)
- Number of $50m+ clients increases by 2; Number of $20m+ clients increases by 4
Commenting on the Q3 performance, Chief Executive Officer and Managing Director, N Chandrasekaran said: "Strong international demand for our services and discipline in execution has helped TCS maintain its momentum and post robust growth in volumes as well as realisation. Our diversified market presence and services portfolio have helped us overcome seasonal weakness and soft demand in the Indian market."
Chandrasekaran added: "Based on initial discussions with our customers we believe 2014 will be a stronger year for us than 2013, as customers execute their business plans in a relatively stable environment. With Digital technologies rapidly changing the way an enterprise operates in multiple dimensions, our continuous investments positions us well to help customers reimagine their business."
Rajesh Gopinathan, Chief Financial Officer, said: We have been able to maintain our profitability by operating in a disciplined manner while sustaining our investments in customer-facing initiatives globally. We have also been able to significantly increase our cash generation due to efficient working capital management.
Growth in Q3 was driven by industries like Life Science and Healthcare, Manufacturing, Media, Travel and Hospitality and Telecom. The company’s broad based presence across markets and services helped overcome seasonal weakness in some markets. Europe led growth, driven by the continuous investments being made in that market, while North America and UK also grew during the quarter. Among growth markets, Latin America, APAC and MEA registered strong growth. India business suffered from volatility and declined sequentially. Among service lines, Business Process Services, Enterprise Solutions, Global Consulting were the leaders.
Select Key Wins
- Selected by a large global bank to provide ADM services for their payments and receivables functions.
- Engaged by a leading food and grocery retailer in North America as a strategic IT partner for all application development, package implementation and Digital services
- Awarded multi-year, multi-million dollar contract by a leading European pharmaceutical company to provide drug safety services leveraging global delivery
- Won multi-year engagement with a major North American telecom operator to provide comprehensive mobile application lifecycle services for the development of a series of mobile applications across all major mobile platforms integrated with network intelligence
- Chosen by a global transportation conglomerate to provide remote infrastructure managed services for its worldwide operations across its group companies
- Selected by one of the market leaders in information services industry to accelerate its ERP transformation roadmap and provide service transformation to a large portfolio of applications
- Engaged by a leading North America based diversified industrial manufacturer to transform back office operations in Finance and accounting
Key Wins in Digital
Services and Solutions
- Develop mobile interface for CRM software product for a major global Hi-Tech company
- Develop consumer mobile application for a North American airline to promote customer engagement
- Develop mobile application and associated middleware to enable settlement of claims efficiently for an Asia-Pacific insurer
- Develop tablet application for a European payments provider to simplify sales process for its field force
- Develop multi-platform mobile application to manage and track digital marketing campaigns for a global television and film production company
- Develop multiple mobile applications for enterprise users of a global Pharmaceutical manufacturer
- Develop multi-platform mobile application for human resource function of a major European retailer
- Develop workflow application on multiple platforms for use by the management of an Asia-Pacific airline
- A multi-year engagement with a major insurance company in North America for digital experience transformation of its online channels
- Revamp digital marketing platforms at a global banking and financial services company
- Develop modern user experience for new trading platform of a major European stock exchange to transform online channels for a UK based health insurance company
- Transform digital channels to enable better customer experience for a manufacturing firm in N America
- Build enterprise risk management and compliance Big Data warehouse for a leading North American bank
- Manage Big Data infrastructure for a major North American aerospace manufacturer
- Build components of Big Data architecture for risk management for a major North American banking and financial services provider
- Migrate legacy mainframe systems to Big Data systems for a US based financial services company
- Establish Big Data infrastructure and data archival solution for a North American retailer
- Provide strategy consulting services for Big Data systems for asset management to a European telematics and telecom company
- Setup Big Data based applications for retail use cases for a major UK based retailer
Innovation and
Intellectual Property:
As of December 31, 2013, the company has applied for 1535 patents including 94 applied during the quarter. Till date, the company has been granted 102 patents.
Human Resources:
The company continued to hire to support business growth. There was a total gross addition of 14,663 people (net addition of 5,463 employees) taking the total employee strength of 290,713 employees on a consolidated basis. The utilization rate (excluding trainees) was at 84.3% and that including trainees was 77.5 %. The attrition rate (LTM) was stable at 10.9% including BPS. The attrition rate in IT was at 10.3 %, while BPS attrition fell to 13.4 %.
"To support business growth, we have increased our hiring target by a further 5,000 employees for the current financial year to 55,000 professionals," said Ajoy Mukherjee,Executive vice president and Global Head, Human Resources. "Our efforts to push the utilization lever is paying dividends with utilization rates including trainees rising to 77.5% and that excluding trainees at over 84%."
Awards and Recognition:
Business Leadership:
- Ranked India's 'Most Valuable Company' in BT 500 rankings for second-year-in-a-row
- Forbes Asia 'Fabulous 50' Award 2013
- Multiple Corporate Engagement Awards in Europe
- The company was awarded two "Gold" in the Best partnership in sports and Best Program to raise brand awareness categories, as well as a "Bronze" in the Best community involvement category.
- APOnline wins "Financial Inclusion and Payment Systems" (FIPS) 2013 award
- Ranked in top two amongst IT service and outsourcing firms in China
- Ranked Best Employer in China 2013
- TCS Netherlands wins TOMMIE Award for 'The Most Innovative Sourcing Vendor 2013'
- Three Government ISU projects win CSI Nihilent Award of Recognition 2013
- TCS-Legal and General (LandG), won NOA IT Outsourcing project of the year award
Partner:
- Microsoft 'Public Sector Partner award' at Microsoft Partner Summit 2013
- SAP Customer Awards of Excellence 2013
- 'Social Innovation Partner of the Year' Award from Hitachi
Sustainability:
- Parivartan Sustainability Disclosure Leadership Award 2013
- TCS recognised by U.S. Chamber of Commerce Foundation under the Best Corporate Steward Award category.
- TCS Chile receives 'Best Company Award' for continuous support towards CSR initiatives by Fundacion Regazo
Leadership:
N Chandrasekaran, CEO and MD received the following awards:
- Business Standard: CEO of the Year for 2013
- Business Today: Best CEO for 2013
- Express IT Awards: Newsmaker of the Year
- Business India: Businessman of the year 2013
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 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. |
|
|
1 |
Rs. |
|
Euro |
1 |
Rs. |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
|
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
9 |
|
OPERATING SCALE |
1~10 |
10 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
10 |
|
--PROFITABILIRY |
1~10 |
10 |
|
--LIQUIDITY |
1~10 |
10 |
|
--LEVERAGE |
1~10 |
10 |
|
--RESERVES |
1~10 |
10 |
|
--CREDIT LINES |
1~10 |
10 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
87 |
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.