MIRA INFORM REPORT
|
Report Date : |
19.12.2014 |
IDENTIFICATION DETAILS
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Name : |
TATA CONSULTANCY
SERVICES LIMITED |
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Registered
Office : |
9th Floor, |
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Country : |
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Financials (as
on) : |
30.09.2014 (Six Months) |
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Date of
Incorporation : |
19.01.1995 |
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Com. Reg. No.: |
11-084781 |
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Capital
Investment / Paid-up Capital : |
Rs.1958.700 Millions |
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CIN No.: [Company Identification
No.] |
L22210MH1995PLC084781 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMT00681C MUMT11446B |
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PAN No.: [Permanent Account No.] |
AAACR4849R |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Providing Information Technology (IT) and Consultancy Services
including systems, hardware and software, communications and networking,
hardware sizing and capacity planning, software management solutions,
technology education services and business process outsourcing. |
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No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
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MIRA’s Rating : |
Aaa (87) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
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Rating |
Commercial Paper = A1+ |
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Rating Explanation |
Very strong degree of safety and lowest
credit risk |
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Date |
July 2014 |
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
31-03-2014.
INFORMATION DENIED BY
|
Name : |
Mr. Milvin Kanda |
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Designation : |
Export Department |
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Contact No.: |
91-22-67322525 |
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Date : |
16.12.2014 |
LOCATIONS
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Registered Office : |
9th Floor, Nirmal Building, Nariman Point, Mumbai – 400
021, Maharashtra, India |
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Tel. No.: |
91-22-67789595 |
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Fax No.: |
91-22-67509333 / 67789660 |
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E-Mail : |
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Website : |
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Corporate Office / Regional Office 1 : |
TCS House, |
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Tel. No.: |
91-22-67789999 |
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Fax No.: |
91-22-67789000 |
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E-Mail : |
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Regional Office 2 : |
Vidyasagar Building, Raheja Township, Near Sai
Baba Mandir, Malad (East), |
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Tel. No.: |
91-22-6779 8585 |
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Fax No.: |
91-22-6779 8546 |
DIRECTORS
As on 31.03.2014
|
Name : |
Mr. Cyrus Mistry |
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Designation : |
Chairman |
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Date of Birth/Age : |
04.07.1968 |
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Qualification : |
Graduate degree in
Civil Engineering from Imperial College, UK, M.Sc. in Management from London
Business School. |
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Date of Appointment : |
02.04.2012 |
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Other Directorship: |
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Name : |
Mr. S Ramadorai |
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Designation : |
Vice Chairman |
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Date of Birth/Age : |
06.10.1944 |
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Qualification : |
Bachelor’s
degree in Physics from Delhi University, Bachelor’s degree in Electronics and
Telecommunications from Indian Institute of Science, Bangalore, Master’s
degree in Computer Science from University of California, USA and Executive
MBA from Sloan School of Management, Massachusetts Institute of
Technology(MIT). |
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Date of Appointment : |
05.05.2004 |
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Other Directorship: |
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Name : |
Mr. Aman Mehta |
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Designation : |
Director |
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Date of Birth/Age : |
01.09.1946 |
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Qualification : |
Bachelors degree in Economics from Delhi University |
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Date of Appointment : |
06.05.2004 |
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Directorship held in other Public Companies (excluding foreign
companies) : |
·
Wockhardt Pharmaceuticals Limited ·
Jet Airways Limited ·
Max Healthcare Institute Limited ·
Godrej Consumer ·
Products limited ·
Cairn India limited |
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Name : |
Mr. V Thyagarajan |
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Designation : |
Director |
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Date of Birth/Age : |
19.04.1946 |
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Qualification : |
B. Tech [Elec] and M.B.A. from the Indian Institute of Management
Ahmedabad |
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Date of Appointment : |
05.09.2005 |
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Other Directorship: |
Glaxo Smithkline Pharmaceuticals Limited |
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Name : |
Mr. Clayton M Christensen |
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Designation : |
Director |
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Date of Birth/Age : |
06.04.1952 |
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Qualification : |
B.A.
(Economics), M.Phil. (Economics), MBA and DBA from Harvard Business School |
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Date of Appointment : |
12.01.2006 |
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Name : |
Mr. Ron Sommer |
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Designation : |
Director |
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Date of Birth/Age : |
29.07.1949 |
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Qualification : |
Ph .D in mathematics |
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Date of Appointment : |
05.09.2006 |
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Other Directorship: |
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Name : |
Dr. Vijay Kelkar |
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Designation : |
Director |
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Name : |
Mr. Ishaat Hussain |
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Designation : |
Director |
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Name : |
Mr. N. Chandrasekaran |
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Designation : |
Managing Director and Chief Executive Officer |
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Name : |
Mr. Phiroz Vandrevala |
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Designation : |
Executive Director |
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Name : |
Mr. O P Bhatt |
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Designation : |
Director |
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Date of Birth/Age : |
07.03.1951 |
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Qualification : |
Graduate degree in Science, Post Graduate degree in English Literature
(Gold Medal). |
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Date of Appointment : |
02.04.2012 |
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Other Directorship: |
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KEY EXECUTIVES
|
Name : |
Mr. Suprakash Mukhopadhyay |
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Designation : |
Company Secretary |
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Name : |
Mr. Nishit Marwah |
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Designation : |
Vice President of Finance |
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MANAGEMENT TEAM: |
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Corporate: |
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Geography Heads: |
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Human Resources
: |
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Finance : |
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Chief Compliance
Officer : |
Mr. Ravindra J Shah |
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Security : |
Mr. R. K. Raghavan |
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INDUSTRY SERVICE UNITS: |
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Banking and
Financial Services : |
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Insurance and
Healthcare |
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Life Sciences, Energy, Resources and
Utilities and Manufacturing : |
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Telecom, Media and Hi-Tech : |
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Retail and CPG and Travel and Hospitality : |
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Government : |
Tanmoy
Chakrabarty |
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STRATEGIC GROWTH UNITS: |
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TCS Financial Services, iON, Small and
Medium Business and Platform BPO : |
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SERVICE UNITS: |
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Global Consulting Practice: |
Mr. J Rajagopal |
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Engineering and
Industrial Services : |
Mr. Regu Ayyaswamy |
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Infrastructure
Services : |
Mr. P R Krishnan |
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Business Process
Services : |
Mr. Abid Ali Neemuchwala |
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Assurance Services
: |
Mr. Siva Ganesan |
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Enterprise
Solutions : |
Mr. Krishnan Ramanujam |
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Alliances : |
Mr. Raman Venkatraman |
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Digital
Solutions : |
Mr. Satya Ramaswamy |
SHAREHOLDING PATTERN
As on 30.09.2014
|
Category of Shareholder |
Total No. of
Shares |
% of Total No.
of Shares |
|
(A) Shareholding of Promoter and Promoter Group |
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|
1445813486 |
73.81 |
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|
1607624 |
0.08 |
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|
1607624 |
0.08 |
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|
1447421110 |
73.90 |
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Total shareholding of Promoter and Promoter Group (A) |
1447421110 |
73.90 |
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(B) Public Shareholding |
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|
18356810 |
0.94 |
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|
724159 |
0.04 |
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|
349927 |
0.02 |
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|
74569537 |
3.81 |
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|
329775674 |
16.84 |
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|
423776107 |
21.64 |
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|
7412484 |
0.38 |
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|
63973548 |
3.27 |
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|
14218914 |
0.73 |
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|
1925816 |
0.10 |
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|
1043219 |
0.05 |
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|
882569 |
0.05 |
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28 |
0.00 |
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|
87530762 |
4.47 |
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Total Public shareholding (B) |
511306869 |
26.10 |
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Total (A)+(B) |
1958727979 |
100.00 |
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(C) Shares held by Custodians and against which Depository
Receipts have been issued |
0 |
0.00 |
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|
0 |
0.00 |
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|
0 |
0.00 |
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0 |
0.00 |
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Total (A)+(B)+(C) |
1958727979 |
100.00 |
Shareholding of securities (including shares, warrants,
convertible securities) of persons belonging to the category Promoter and
Promoter Group
|
SR. No. |
Name of the Shareholder |
Details of Shares held |
Total shares (including underlying shares
assuming full conversion of warrants and convertible securities) as a % of
diluted share capital |
|
|
No. of Shares held |
As a % |
|
||
|
1 |
Tata Sons Limited |
1,44,34,51,698 |
73.69 |
73.69 |
|
2 |
Jamsetji Tata Trust |
11,60,280 |
0.06 |
0.06 |
|
3 |
Tata Industries Limited |
10,29,700 |
0.05 |
0.05 |
|
4 |
AF-Taab Investment Company Limited |
6,33,352 |
0.03 |
0.03 |
|
5 |
Tata Investment Corporation Limited |
5,90,452 |
0.03 |
0.03 |
|
6 |
Navajbai Ratan Tata Trust |
4,47,344 |
0.02 |
0.02 |
|
7 |
Tata International Limited |
83,232 |
0 |
0 |
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8 |
Tata Steel |
24,400 |
0 |
0 |
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9 |
Tata Power Company Limited |
452 |
0 |
0 |
|
10 |
Tata Capital Limited |
200 |
0 |
0 |
|
|
Total |
1,44,74,21,110 |
73.9 |
73.9 |
Shareholding of securities (including shares, warrants,
convertible securities) of persons belonging to the category Public and holding
more than 1% of the total number of shares
|
SR. No. |
Name of the Shareholder |
No. of Shares held |
Shares as % of Total No. of Shares |
|
|
1 |
Life Insurance Corporation of India |
43420561 |
2.22 |
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2 |
Franklin Templeton Investment Funds |
22989529 |
1.17 |
|
|
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Total |
66410090 |
3.39 |
BUSINESS DETAILS
|
Line of Business : |
Providing Information Technology (IT) and Consultancy
Services including systems, hardware and software, communications and networking,
hardware sizing and capacity planning, software management solutions,
technology education services and business process outsourcing. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
Not Divulged |
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Customers : |
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No. of Employees : |
Information denied by the management |
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Bankers : |
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Facilities : |
SECURED LOANS
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. |
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Banking
Relations : |
--- |
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Auditors : |
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Name : |
Deloitte Haskins and Sells Chartered Accountants |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company : |
Tata Sons Limited |
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Fellow Subsidiaries : |
Ø
Infiniti
Retail Limited Ø
Panatone
Finvest Limited Ø
Tata AIG General Insurance Company Limited Ø
Tata AIA Life Insurance Company Limited Ø
Tata
Investment Corporation Limited Ø
Tata Limited Ø
Tata Asset
Management Limited Ø
Tata Business Support Services Limited Ø
Tata
Capital Limited Ø
Tata Housing Development Company Limited Ø
Tata
Consulting Engineers Limited Ø
Tata Sky
Limited Ø
Tata Realty And Infrastructure Limited Ø
e-Nxt
Financials Limited Ø
Tata
Industries Limited Ø
Tata
International Limited Ø
Tata
Autocomp Systems Limited Ø
Drive India Enterprise Solutions Limited Ø
Nova
Integrated Systems Limited Ø
Tata Lockheed Martin Aerostructures Limited Ø
Tata Capital Housing Finance Limited Ø
TC Travel And Services Limited Ø
Tata
Securities Limited Ø
Tata Capital Forex Limited (formerly TT Holdings
& Services Limited) Ø
Tata Capital Financial Services Limited Ø
Tata
Interactive Systems GmbH Ø
TATA Africa Holdings (Kenya) Limited Ø
Tata
Zambia Limited Ø
Tata
Interactive Systems AG Ø
Tata Africa Services (Nigeria) Limited Ø
Tata International Singapore Pte Limited Ø
Tata
Advanced Materials Limited Ø
MMP Mobi Wallet Payment Systems Limited (upto
25.03.2013) Ø
VIOM Networks Limited (upto 25.03.2013) Ø
Tata Teleservices (Maharashtra) Limited (upto
25.03.2013) Ø Tata
Teleservices Limited (upto 25.03.2013) |
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CAPITAL STRUCTURE
After 30.09.2014
Authorised Capital : Rs. 5250.750 Millions
Issued, Subscribed & Paid-up Capital : Rs. 1958.728
Millions
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4200500000 |
Equity Shares |
Rs.1/- each |
Rs.4200.500 Millions |
|
1050250000 |
Redeemable Preference Shares |
Rs.1/- each |
Rs.1050.300 Millions |
|
|
Total |
|
Rs.5250.800
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1958727979 |
Equity Shares |
Rs.1/- each |
Rs. 1958.700 Millions |
|
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|
144,34,51,698 equity shares (March 31, 2013 : 144,34,51,698 equity shares)
are held by Tata Sons Limited, the holding company.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
30.09.2014 (Six Months) |
31.03.2014 |
31.03.2013 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
1958.700 |
1958.700 |
2957.200 |
|
(b) Reserves & Surplus |
424736.200 |
438560.100 |
322665.300 |
|
(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) |
426694.900 |
440518.800 |
325622.500 |
|
|
|
|
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|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
771.700 |
896.900 |
831.000 |
|
(b) Deferred tax liabilities (Net) |
2507.800 |
2268.700 |
1684.900 |
|
(c) Other long term
liabilities |
7000.200 |
6904.400 |
2518.700 |
|
(d) long-term
provisions |
3470.500 |
2796.100 |
2695.200 |
|
Total Non-current
Liabilities (3) |
13750.200 |
12866.100 |
7729.800 |
|
|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
29.200 |
0.000 |
800.200 |
|
(b) Trade
payables |
46659.200 |
39775.500 |
33499.400 |
|
(c) Other
current liabilities |
27171.200 |
24603.200 |
21727.100 |
|
(d) Short-term
provisions |
27853.600 |
58278.300 |
38961.400 |
|
Total Current
Liabilities (4) |
101713.200 |
122657.000 |
94988.100 |
|
|
|
|
|
|
TOTAL |
542158.300 |
576041.900 |
428340.400 |
|
|
|
|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
72686.900 |
58870.900 |
50594.800 |
|
(ii)
Intangible Assets |
358.700 |
421.000 |
448.000 |
|
(iii)
Capital work-in-progress |
28482.000 |
30475.300 |
17638.500 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
26978.000 |
50985.500 |
59757.300 |
|
(c) Deferred tax assets (net) |
2819.900 |
2735.800 |
1482.300 |
|
(d) Long-term Loan and Advances |
59211.800 |
68755.400 |
46302.100 |
|
(e) Other
Non-current assets |
4246.100 |
15449.900 |
18812.000 |
|
Total Non-Current
Assets |
194783.400 |
227693.800 |
195035.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
60.000 |
7338.700 |
3486.500 |
|
(b) Inventories |
164.900 |
85.700 |
63.400 |
|
(c) Unbilled revenues |
28368.300 |
26260.800 |
23033.500 |
|
(d) Trade receivables |
160795.800 |
144718.900 |
112023.200 |
|
(e) Cash and cash equivalents |
106958.000 |
125662.600 |
40541.600 |
|
(f) Short-term loans and advances |
41674.800 |
36881.200 |
47333.800 |
|
(g) Other current assets |
9353.100 |
7400.200 |
6823.400 |
|
Total
Current Assets |
347374.900 |
348348.100 |
233305.400 |
|
|
|
|
|
|
TOTAL |
542158.300 |
576041.900 |
428340.400 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
30.09.2014 (Six Months) |
31.03.2014 |
31.03.2013 |
|
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SALES |
|
|
|
|
|
|
|
Income |
358434.800 |
646729.300 |
484261.400 |
|
|
|
Other Income |
16641.300 |
31147.100 |
22303.900 |
|
|
|
TOTAL |
375076.100 |
677876.400 |
506565.300 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employees benefits expense |
122855.100 |
214665.600 |
170817.200 |
|
|
|
Other expenses and Operation |
121683.800 |
216726.500 |
170381.500 |
|
|
|
|
(5277.600) |
0.000 |
0.000 |
|
|
|
TOTAL |
239261.300 |
431392.100 |
341198.700 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
135814.800 |
246484.300 |
165366.600 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
618.700 |
234.100 |
306.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
135196.100 |
246250.200 |
165060.400 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
6759.700 |
10805.500 |
8028.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
128436.400 |
235444.700 |
157031.800 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
27550.900 |
50695.500 |
29168.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
100885.500 |
184749.200 |
127863.400 |
|
|
|
|
|
|
|
|
|
Less/ Add |
TRANSFER TO
AMALGAMATION |
0.000 |
23752.200 |
(1030.000) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
364204.500 |
246028.500 |
182352.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Interim dividends on equity shares |
97935.600 |
23498.700 |
17614.900 |
|
|
|
Proposed final dividend on equity shares |
0.000 |
39174.600 |
25443.900 |
|
|
|
Dividend on redeemable preference shares |
0.000 |
287.600 |
190.000 |
|
|
|
Tax on dividend |
16681.700 |
7889.600 |
7121.800 |
|
|
|
Write back on dividend |
(209.700) |
0.000 |
0.000 |
|
|
|
General reserve |
0.000 |
18474.900 |
12786.300 |
|
|
|
Capital redemption reserves |
0.000 |
1000.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
35682.400 |
364204.500 |
246028.500 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Consultancy services |
|
603738.100 |
447212.200 |
|
|
|
FOB value of exports of equipment and licenses |
|
2611.500 |
1300.200 |
|
|
|
Interest income |
|
67.600 |
104.600 |
|
|
|
Dividend income |
|
15823.800 |
10490.500 |
|
|
|
Other income (net) |
|
367.400 |
318.100 |
|
|
TOTAL EARNINGS |
NA |
622608.400 |
459425.600 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
329.600 |
203.500 |
|
|
|
Stores & Spares |
|
0.000 |
0.100 |
|
|
|
Capital Goods |
|
5896.000 |
3524.200 |
|
|
TOTAL IMPORTS |
|
6225.6 |
3727.800 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
51.51 |
94.15 |
65.22 |
|
KEY RATIOS
|
PARTICULARS |
|
30.09.2014 (Six Months) |
31.03.2014 |
31.03.2013 |
|
PAT / Total Income |
(%) |
28.15 |
28.57 |
26.40 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
37.89 |
38.11 |
34.15 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
26.54 |
47.87 |
44.94 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.30 |
0.53 |
0.48 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.42 |
2.84 |
2.46 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
30.09.2014 (Six Months) |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
2957.200 |
1958.700 |
1958.700 |
|
Reserves & Surplus |
322665.300 |
438560.100 |
424736.200 |
|
Net
worth |
325622.500 |
440518.800 |
426694.900 |
|
|
|
|
|
|
long-term borrowings |
831.000 |
896.900 |
771.700 |
|
Short term borrowings |
800.200 |
0.000 |
29.200 |
|
Total
borrowings |
1631.200 |
896.900 |
800.900 |
|
Debt/Equity
ratio |
0.005 |
0.002 |
0.002 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
30.09.2014 (Six Months) |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
484261.400 |
646729.300 |
358434.800 |
|
|
|
33.550 |
-44.577 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
30.09.2014 (Six Months) |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
484261.400 |
646729.300 |
358434.800 |
|
Profit |
127863.400 |
184749.200 |
100885.500 |
|
|
26.40% |
28.57% |
28.15% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBTS
|
Particulars |
30.09.2014 (Six Months) (Rs. In Millions) |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
Current Maturities of Long Term Debts |
NA |
4.700 |
12.400 |
|
|
|
|
|
|
Total |
NA |
4.700 |
12.400 |
|
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 |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
two years and six months |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if
applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
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 |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director,
if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
LISTING DETAILS
|
HIGH COURT OF
BOMBAY |
|
CASE DETAILS BENCH: BOMBAY |
|
Presentation
Date :- 02/09/2014 |
|
Lodging No.:- ITXAL/1600/2014 Filing Date:- 02/09/2014
|
|
Petitioner: THE
COMMISSIONER OF INCOME TAX-LTU Respondent: TATA CONSULTANCY
SERVICES LIMITED Petn. Adv : PADWA
DIVAKAR (0) District: MUMBAI |
|
Bench: DIVISION Status: Pre-Admission
Category: TAX APPEALS Last Date:- 09/09/2014 Stage :- Last Coram: REGISTRAR(OS)/PROTHONOTARY AND SR. MASTER |
|
Act: Income Tax Act, 1961 UNDER SECTION: 260A |
UNSECURED LOANS
|
PARTICULAR |
30.09.2014 (Six Months)
(Rs. In Millions) |
31.03.2014 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Other borrowings (from entities other than banks) |
5.800 |
10.500 |
|
Total |
5.800 |
10.500 |
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 NHEREDIA MARG; BALLARD
ESTATE, MUMBAI, MAHARASHTRA |
- |
|
2 |
90160638 |
08/04/2004 |
3,000,000,000.00 |
THE HONG KONG AND SHANGHAI BANKING CORPORATE LIMITED |
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 CORPORATE LIMITED |
MAHATMA GANDHI ROAD, FORT, MUMBAI, MAHARASHTRA - |
- |
|
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, MAHARASHTRA - 400001, INDIA |
B39026745 |
|
7 |
90198239 |
27/01/2003 |
5,000,000.00 |
STANDARAD CHARTERED BANK |
NO. 14; GENEVA HOUSE, CHINIGHAM ROAD, BANGALORE, |
- |
|
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 - 110001, INDIA |
A57408304 |
|
11 |
90160635 |
27/03/1998 |
700,000,000.00 |
BANK OF AMERICA |
EXPRESS TOWERS, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
- |
|
12 |
90213172 |
27/03/1998 |
700,000,000.00 |
BANK OF AMERICA |
EXPRESS TOWER, MUMBAI, MAHARASHTRA - 400021, INDIA |
- |
|
13 |
90187573 |
17/11/1992 |
150,000,000.00 |
CITI BANK |
DR. D. N. ROAD, FORT, BOMBAY, MAHARASHTRA - 400001, INDIA |
- |
|
14 |
90185479 |
09/01/1991 * |
5,500,000.00 |
CANARA BANK |
B. S. MARG, BOMBAY, MAHARASHTRA - 400023, INDIA |
- |
|
15 |
90185370 |
29/09/1988 |
1,117,725.00 |
INDIAN BANK |
UNIKTED INDIA BUILD, SIR. P. M. ROAD; FORT, BOMBAY, MAHARASHTRA -
400001, INDIA |
- |
* Date of charge modification
CONTINGENT LIABILITIES:
|
Particular |
30.09.2014 (Six Months)
(Rs. In Millions) |
31.03.2014 (Rs.
In Millions) |
|
Claims against the Company not acknowledged as debts |
573.200 |
295.700 |
|
Income Tax demands |
38902.000 |
38275.800 |
|
Indirect Tax demands |
570.300 |
632.700 |
|
Guarantees given by the Company on behalf of subsidiaries |
35533.400 |
40823.100 |
|
NOTES a) In respect of income tax demands of Rs. 3182.000 millions (March 31, 2014: Rs. . 3182.000 millions), not included above, the Company is entitled to an indemnification from the seller of TCS e-Serve Limited, which has been amalgamated with the Company effective April 1, 2013. b) In respect of indirect tax demands of Rs. 85.300 millions (March 31, 2014: Rs. . 85.300 millions), not included above, the Company is entitled to an indemnification from the seller of TCS e-Serve Limited, which has been amalgamated with the Company effective April 1, 2013. c) The Company has provided guarantees aggregating to Rs. 26476.500 millions (GBP 2646.700 million) (March 31, 2014: Rs. 31670.200 millions) (GBP 3172.000 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. d)
The Company has provided guarantees
aggregating to Rs. 862.100 millions (USD 13.97 million) (March 31, 2014: Rs.
839.100 millions) (USD 222.42 million) to third parties on behalf of its
subsidiary Tata America Corporation Limited. The Company does not expect any
outflow of resources in respect of the above. |
||
CORPORATE INFORMATION
Tata Consultancy Services Limited (referred to as “TCS Limited” or “the Company”) provide consulting-led integrated portfolio of Information technology (IT) and IT-enabled services delivered through a network of multiple locations around the globe. The Company’s full services portfolio consists of IT and Assurance Services, Business Intelligence and Performance Management, Business Process Services, Cloud Services, Connected Marketing Solutions, Consulting, Eco-sustainability Services, Engineering and Industrial Services, Enterprise Security and Risk Management, Enterprise Solutions, iON-Small and Medium Businesses, IT Infrastructure Services, Mobility Products and Services and Platform Solutions.
As at September 30, 2014, Tata Sons Limited owned 73.69% 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 62 subsidiaries across the globe.
MANAGEMENT DISCUSSION AND ANALYSIS
OVERVIEW OF ECONOMY
The revitalisation
of global economy continued during the calendar year 2013 and the global
economy ended the year on a better footing as compared to the start of the
year. The growth momentum is expected to be carried forward during the year
2014. The International Monetary Fund forecasts that world output will grow
3.6% in 2014, compared to 2.9% during 2013.
The US economy grew
at an annual rate of 2.6% in the last quarter of 2013 with better growth
forecast for 2014. The UK economy strengthened steadily with GDP showing 1.9%
growth during 2013 and it is expected to maintain the revival momentum through
2014. Eurozone continued to show mixed signs of recovery and growth concerns.
However, policy action by specific countries is expected to deliver better
performance during 2014.
While the global
economic recalibration is playing out in a relatively measured way, global
business leaders are becoming increasingly confident about the sustained
economic and business growth than they were last year. Global corporations’
performance and investors’ confidence were reflected in the sharp movement of
world capital markets during 2013.
OVERVIEW OF
INDUSTRY
Increased
confidence of business leaders in their companies’ performance and improved
sentiment of consumers drove spending in technology products. Investment in
technology is among top three priorities of companies across the world.
Worldwide interactions wit business leaders reveal that role of technology will
create biggest impact on their business. An increasing acceptance of the fact
that digital technologies will impact business
models, processes, new products and services offerings, access to new
markets, new customer base and will open up completely new set of opportunities
for their companies, is a common feature across industries and markets.
As a result,
spending on technology and technology services grew at a faster pace (4.5%)
than global economic growth in 2013. World’s largest IT market US grew at 5.6%,
while continuing to lead investments in digital technologies. The need to find
new ways to reach out to consumers prompted the European companies to invest in
technology for optimisation and innovation, which led to 3% growth in IT
spending during 2013, as compared to a decline in the previous year.
While the global
IT spend grew at 4.5%, TCS delivered a growth of 16.2% in fiscal 2014.
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 corporations all over the world. 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 last 46 years through a unique combination of long
standing customer relationships, investments in people and through continuous
investments in new technologies. The Company has been steadily expanding its
global customer base, global infrastructure, service lines and industries.
The growth
momentum of the Company continues to deliver strong financial results, attract
top global talent and win new customers and strengthen existing customer
relationships. TCS now is India’s most valuable company and among world’s most
valuable IT services companies.
TALENT ACQUISITION
In FY14, TCS
remained the highest recruiter in the industry with a gross addition of
61,200 employees out of which 46,880 were in India and the remaining 14,320 were outside India.
TCS continues to
remain the employer of choice at the engineering campuses in India. TCS visited
371 campuses in India, and made 24,859 offers to engineering trainees and 575
offers to management trainees for FY15. The Company also continued its effort
to recruit from colleges outside India especially in Latin America, USA,
Canada, China and Hungary.
This year the
talent acquisition process was revamped to make it more efficient, simple and
green. The Company has been using social networking sites to attract lateral
talent.
AWARDS AND RECOGNITION
BUSINESS LEADERSHIP:
² Recognised as world's
Fastest Growing Global IT Services brand by Brand Finance, the world’s leading
brand valuation firm
² Recognized as one of
the 'Achievers 50 Most Engaged Workplaces' in United States for second year in
a row
² TCS won RASBIC awards
for sixth year in a row at the World HRD Congress:
Ø
Best
Overall Recruiting and Staffing Organization of the Year
Ø
Recruiting
and Staffing Industry Leader of the Year
Ø Best Use of
Technology for Recruiting
Ø Innovation in
Recruitment
Ø Best Social
Networking Recruitment Effort
Ø
Best
Employee Referral Program
TCS BPS grabbed four awards at the ‘BPO Excellence Awards
2014:
Ø BPO Organisation of
the Year
Ø Operational
Excellence and Quality
Ø Best Employer Brand
of the Year
Ø
‘Social
Change’ Agent
²
Won
Indian MAKE Award for 2013 for a second consecutive year
²
TCS
UK wins Gold Award for ‘Innovation in Learning’
² TCS China won two
awards at the 2014- 22nd Global HR Excellence and Benny Awards
Ø Compensation Benefits
Insurance Program
Ø
Talent
Management
4
awards at World HRD Congress 2014
Ø Talent Management
Ø Innovation in
Recruitment
Ø Contribution to cause
of education
Ø
Fun
at Work Initiatives
Winner of Service Now's most significant
Education and Enablement Partner Award 2013
²
TCS
China recognised in ‘Deloitte Technology Fast 500 Asia Pacific 2013’ ranking
²
Ranked
as the No. 1 Employer in Europe by Top Employers Institute
Ø
Certified
as leading employer in eight European countries - Belgium, Denmark, France,
Germany, Netherlands, Sweden, Switzerland and the United Kingdom
²
Recognised
for distinction in Assurance and Software Test Automation at Fifth Annual ATI
Automation Honors
²
LegalEra Awards 2014
Ø
Best
Global In-House Legal Team of the Year
Ø
Best
General Counsel of the Year
²
Finance Asia
Ø
Best
Managed Company
Ø
Best
Investor Relations
Ø Most Committed to
a Strong Dividend Policy
AMALGAMATION OF
COMPANIES
a) Nature of
business
TCS e-Serve
Limited is engaged in the business of providing information technology enabled
services, business process outsourcing services (BPO) for its customers
primarily in the Banking, Financial services and Insurance domain. The Company
holds 96.26% of the voting power of TCS e-Serve limited. TCS e-Serve Limited
has two wholly owned subsidiaries: TCS e-Serve International Limited and TCS
e-Serve America Inc.
b) TCS e-Serve
Limited has been amalgamated with the Company with effect from April 1, 2013 in
terms of the
composite scheme
of amalgamation (Scheme) sanctioned by the High Court of Judicature at Bombay
vide their Order dated September 6, 2013. The Scheme came into effect on
October 1, 2013 and pursuant thereto all assets, unbilled revenue, debts,
outstandings, credits, liabilities, benefits under income tax, service tax,
excise, value added tax, sales tax (including deferment of sales tax), benefits
for and under Software Technology Parks of India (STPI), duties and obligations
of the TCS e-Serve Limited, have been transferred to and vested in the Company
retrospectively with effect from April 1, 2013.
Pursuant to the
Scheme coming into effect, all the equity shares held by the Company in TCS
e-Serve Limited shall stand automatically cancelled and remaining shareholders
of TCS e-Serve Limited holding fully paid up equity shares shall be allotted
thirteen shares of Rs. 1 each in the company, credited as fully paid up, for
every four equity shares of ` 10 each fully paid up held in the capital of TCS
e-Serve Limited by adjusting the General reserve.
c) The
amalgamation has been accounted for under the “pooling of interests” method as
prescribed by Accounting Standard (AS-14) notified under Section 211(3C) of the
Companies Act, 1956. Accordingly, the assets, liabilities and reserves of TCS
e-Serve Limited as at April 1, 2013 have been taken over at their book values
and in the same form. The difference between the amounts recorded as
investments of the Company and the amount of Share Capital of the TCS e-Serve
Limited has been adjusted in the General Reserve.
d) The Scheme also
proposes the de-merger of SEZ undertaking of TCS e-Seve International Limited
(TEIL) into the Company. Upon coming into effect of this Scheme and with effect
from April 1, 2013, all assets, unbilled revenue, debts, outstandings, credits,
liabilities, benefits under income tax, service tax, excise, value added tax,
sales tax (including deferment of sales tax), benefits for and under special
economic zone (SEZ) registrations, duties and obligations of TEIL SEZ
undertaking shall vest in or deemed to be transferred to the Company as a going
concern.
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
PRESS RELAEASE
TCS STRENGTHENS GLOBAL MARKET POSITION IN FY14; GROWTH MOMENTUM
CONTINUES
Annual Revenues up 29.9% at Rs. 818090.000 Millions
FY14 Net Profit at Rs. 191640.000 Millions, up 37.7% Y-o-Y
Ø
Q4 Revenues
at Rs. 215510.000 Millions up 31.2% Y-on-Y & 1.2 % Q-on-Q
Ø
Q4 Net
Profit at Rs. 53580.000 Millions up 48.2% Y-on-Y & 0.5 % Q-on-Q
|
Annual
Highlights for 2013-14 |
Highlights
for 4th Quarter 2013-14 |
|
Ø PBIT
(before Other Income) at Rs. 238030.000 millions Ø Volume
growth at 17.39% Ø Gross
addition: 61,200 employees Ø Net
addition: 24,268 employees Ø Total
employee strength: 300,464 Ø EPS
at Rs. 97.67 Ø Total
Dividend at Rs. 32 per share including proposed ` 20 as Final Dividend |
Ø PBIT
(before Other Income) at Rs. 63140.000
millions Ø Volume
Growth: 2.59% Q-on-Q Ø Gross
addition: 18,564 professionals Ø Net
addition: 9,751 employees Ø Attrition
rate: 11.3 % LTM Ø Utilisation
Rate (excl trainees): 83.8 % Ø Utilisation
Rate (incl trainees): 77.9 % Ø EPS
at ` 27.27 in Q4 from ` 27.20 in Q3 |
MUMBAI,
April 16, 2014: Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS), a
leading IT services, consulting and business solutions firm reported its
consolidated financial results according to Indian GAAP for the quarter and
financial year ended March 31, 2014.
Commenting on the 2013-14 performance, N.
Chandrasekaran, CEO and MD said: “We have delivered strong growth and
strengthened our competitive positioning in the market. We have maintained our
momentum, improved our quality of growth, deepened our relationship with
customers and expanded our presence in newer markets like Europe during the
past 12 months. Our strategic investments including those in Digital
Technologies are providing a compelling value proposition as well as helping us
anticipate and shape new market trends successfully.”
Looking forward to financial year 2014-15, Mr.
Chandrasekaran added: “We are upbeat that the next 12 months will bring
many more opportunities for growth across multiple industries and markets. As
an organization, we remain focused on disciplined execution of our strategy as
well as on energizing 300,000 TCSers to ensure they make a difference to their
customers, their colleagues and the community.”
Rajesh Gopinathan, Chief Financial Officer,
said:
“Our focus has been to stay disciplined in operations while supporting business
growth across multiple markets, industries and technologies. We enhanced our
profitability to industry leading levels despite macro and currency volatility
through the year. We are continuously investing to stay ahead of the curve.”
There was holistic growth across markets and
industries during the financial year. Europe led growth in major markets, while
UK and North America continue to grow in line with the company average. All
major industry verticals grew in double digits led by Retail, Manufacturing,
Life Sciences & Healthcare and BFSI during FY14.
TCS’ full services capabilities continue to
be leveraged by customers with new service lines growing at a fast pace led by
Infrastructure Services, Assurance Services, Global Consulting and Enterprise
Solutions.
Among the new initiatives taken in the last
12 months by TCS were:
- Launch of a unique
all-female Business Process Service center in Kingdom of Saudi Arabia
- Inauguration of new
10,000 seat campus in Gandhinagar, Gujarat
- Launch of a new
10,000-seat Corporate Learning Center in Trivandrum
- Title sponsorship of the TCS New York City
Marathon for 8 years starting November 2014
Key Digital Wins in Q4
Ø Engaged by large
Australian retailer for multi-channel enablement of merchandising systems using
master data management
Ø Selected by a major
European Bank for a consulting engagement to define strategic roadmap leveraging
Big Data for its credit risk transformation program
Ø Chosen by a leading
merchandiser to rollout a field sales mobile application in Asia Pacific
Ø Chosen by European
supplier of photolithography systems to strategize and execute all its mobility
projects
Ø Engaged by North
American insurance firm to enhance property casualty management using Big Data
Ø Selected by a leading
US telecom service provider to create a real time ecosystem for data-driven
decision making
Ø Implementing a
customer decision platform to enhance guided behavior for a North America based
leading Telecom provider
Ø Engaged by a global
aerospace product manufacturer to develop creative user experience designs
Ø Engaged by a global
Hi-Tech Company to transform their sales and operations Business Intelligence
systems using Big Data technologies
Ø Engaged by a British
pharmaceutical and healthcare company to transform its supply chain analytics
using Big Data
Ø Define and execute
strategy for Master Data Management programs for North American aircraft engine
manufacturer
Ø Consult on
transforming order-to-cash business processes using Big Data for European
telecom manufacturer
Ø Create integrated
marketing and technology platform for large global media and information
services firm
Ø Redefining customer
interfaces for leading North American Insurance provider for all online
platforms
Ø Develop field force
solution for a direct broadcast satellite television provider in India
Ø Engaged by leading UK
Bank for developing a suite of consumer facing mobile applications
Ø Engaged by European
telecom manufacturer to perform consumer analytics using the Big Data platform
Ø Develop patient
survey mobile application for one of the largest US based pharmaceutical
companies
Ø
Engaged
by a middle-east petrochemical company for mobile application development and
testing
Key Wins in Q4
Ø Engaged by leading
European Utility to operate and transform customer service processes with an
aim to making them a leader in customer satisfaction within the industry.
Ø Selected by a North
American Fortune-500 multi-specialty pharmaceutical company for a multi-year,
multi-million dollar deal in the area of core infrastructure operations
Ø Awarded multi-year
engagement by North American global leader in process manufacturing to
transform and manage its global infrastructure
Ø Selected by large
European insurer to enhance customer experience by modernizing its IT footprint
Ø Selected by Middle
East based global shipping company to establish a Shared Service Center
covering Shipping Documentation and Finance & Accounting processes
Ø Awarded a contract by
a leading retail bank in Middle East to transform & run mission critical
systems & operations, leveraging TCS BaNCS and full spectrum of managed
services.
Ø Selected by leading
Publisher to consolidate and transform technology infrastructure to accelerate
digital transformation
Ø
Selected
by a leading European apparel and general merchandize retailer to manage their
end-to-end application and infrastructure operations
TCS RECOGNIZED AS A LEADER IN INSURANCE BPO BY EVEREST
GROUP
Report Cites Tcs’ Market Share, Scale And Buyer Satisfaction
NEW YORK | MUMBAI, December 11, 2014: Tata
Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading IT services,
consulting and business solutions organization, today announced that it has
been ranked as a ‘Leader’ in Insurance Business Process Outsourcing (BPO) by
Everest Group in its report, 'Insurance BPO – Service Provider Landscape
with PEAK MatrixTM Assessment 2014', November 2014.
TCS’ ’leader' designation was driven by its 20 percent
market share (by revenue) in the insurance BPO landscape, ability to sign large
contracts, strong technology capabilities with investments in augmentation and
platform-based solutions, balanced shoring capabilities with strong prescence
in the U.S. and U.K., and strong innovation and analytics capabilities to drive
high buyer satisfaction.
“TCS is a leader due to a combination of significant market share
and high delivery capability,” said Rajesh Ranjan, Partner and Head, BPS
Research, Everest Group. “Its insurance-focused technology solutions, balanced
shore delivery model, and ability to execute large and complex deals provides a
credible option for Insurers. This is evident by high buyer satisfaction
ratings, where they cite TCS’ commitment to delivery excellence, technology
interface and integration and ability to self-identify and fix issues.”
“Everest Group’s recognition of TCS as a leader in insurance
operations reflects the investments we have made in being relevant to our
clients for their current and future business process services requirements,”
said TCS’ Abid Ali Neemuchwala, Global Head of Business Process
Services. “Globally, insurers seek partners who can help them
address the complexities of the changing business, regulatory and technology
environments. TCS has become the partner of choice for them, with our unique operations
and technology capabilities that enable insurers to simplify their processes
and significantly improve compliance.”
Today’s insurance industry is grappling with lower asset
returns than ever before while seeking to capitalize on the increasing global
opportunities and changing customer demographics. Insurers seek to create new
business models that will give them the operational agility and global reach at
a competitive cost base. Insurers globally have partnered with TCS to meet
these objectives in their existing operations and greenfield
ventures. TCS’ FORE™ simplification
methodology, Robotic Process Automation framework, TCS BaNCS platform on
the cloud, analytics and TRAPEZE™ solution ensure that insurers have
better compliance and controls, and a roadmap to business excellence and
predictability of business results.
The Everest Group report analyzed the position of 20 service
providers specific to the Insurance BPO market. They were mapped on Everest
Group’s Performance, Experience, Ability, and Knowledge (PEAK) Matrix™, a
composite range of distinct metrics that measures each provider’s capability
and market success.
About TCS Business Process Services (BPS)
Business Process Services (BPS) at TCS is about managing and
executing business operations. Our domain expertise helps deliver core business
processing across industries, analytics and insights and support processes such
as accounting, HR and supply chain management. TCS partners with customers to
accelerate co-transformation, and generates business value for customers
through delivery excellence, risk management, and innovative models such as
Platform BPS which delivers process as a service. With annual BPS revenues of
greater than US$ 1.6 billion, TCS is one of the largest BPS providers with 60,000+
employees servicing 275+ customers across the globe.
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 300,000 of the world’s best-trained consultants in
46 countries. The company generated consolidated revenues of US $13.4 billion
for year ended March 31, 2014 and is listed on the National Stock Exchange and
Bombay Stock Exchange in India.
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.63.31 |
|
|
1 |
Rs. 98.67 |
|
Euro |
1 |
Rs.78.10 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
ASH |
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 |
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 |
|
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.