MIRA INFORM REPORT

Report Date :

03.06.2014

IDENTIFICATION DETAILS

Name :	TATA CONSULTANCY SERVICES LIMITED

Registered Office :	9^th Floor, Nirmal Building, Nariman Point, Mumbai - 400021, Maharashtra

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	19.01.1995

Com. Reg. No.:	11-084781

Capital Investment / Paid-up Capital :	Rs.1958.700 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 :	Not Divulged

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 1762070000

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 – March 31, 2014

Country Name

Previous Rating

(31.12.2013)

Current Rating

(31.03.2014)

India

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

INDIAN ECONOMIC OVERVIEW

US investment bank Goldman Sachs has upgraded its outlook on Indian markets as it expects positive impact of the election cycle.

India’s economy may grow 4.7 % in the current financial year, lower than the official estimate of 4.9 %, Fitch Rating said. The global rating agency expects the economy to pick up in the next two financial years.

Global ratings agency Standard & Poor said increasing focus by India Inc on lowering debt is likely to improve their credit profiles.

Singapore (1.1 million Indian tourists in 2012), Thailand (one million), the United Arab Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred holidays hotspots for Indians. The total figure is expected to increase to 1.93 million by 2017, according to the latest Eurmonitor international report.

There is a $29.34 bn outward foreign direct investment by domestic companies between April and January of 2013/14 which has seen some signs of recovery according to a Care Ratings report.

There are 264 number of new companies being set up every day on average during 2014. Most of them are registered in Mumbai. India had 1.38 million registered companies at the end of January, 2014.

Twitter like messaging service Weibo Corporation has filed to raise $ 500 million via a US initial public offering. Alibaba, which owns a stake in Weibo is expected to raise about $ 15 billion New York this year in the highest profile Internet IPO since Facebook’s in 2012.

Bharti Airtel has raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at a coupon rate of three per cent and maturing in 2020. This is the largest ever bond offering by an Indian company in Swiss Francs. Bharat Petroleum Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98 % coupon rate in February.

Indian Oil Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex at its almost complete Paradip refinery in Odhisha in three to four years. The company board is set to consider the setting up of a 700000 tonne per annum polypropylene plant at an estimated cost at Rs.3150 crore.

Global chief information officers at gathering in Bangalore in April to meet Indian startups at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in the making.

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 DENIED

MANAGEMENT NON CO-OPERATIVE (91-22-67789595)

LOCATIONS

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

Corporate Office / Regional Office 1 :	TCS House, Raveline Street, Fort, Mumbai – 400001, Maharashtra, India
Tel. No.:	91-22-67789999
Fax No.:	91-22-67789000
E-Mail :	Inves.relations@tcs.com

Regional Office 2 :	Vidyasagar Building, Raheja Township, Near Sai Baba Mandir, Malad (East), Mumbai - 400 097, Maharashtra, India
Tel. No.:	91-22-6779 8585
Fax No.:	91-22-6779 8546

DIRECTORS

As on 31.03.2014

Name :	Mr. Cyrus Mistry
Designation :	Chairman
Date of Birth/Age :	04.07.1968
Qualification :	Graduate degree in Civil Engineering from Imperial College, UK, M.Sc. in Management from London Business School.
Date of Appointment :	02.04.2012
Other Directorship:	Tata Sons Limited Tata Industries Limited The Tata Power Company Limited Tata Teleservices Limited Tata Steel Limited

Name :	Mr. S Ramadorai
Designation :	Vice Chairman
Date of Birth/Age :	06.10.1944
Qualification :	Bachelor’s degree in Physics from Delhi University, Bachelor’s degree in Electronics and Telecommunications from Indian Institute of Science, Bangalore, Master’s degree in Computer Science from University of California, USA and Executive MBA from Sloan School of Management, Massachusetts Institute of Technology(MIT).
Date of Appointment :	05.05.2004
Other Directorship:	Tata Industries Limited Tata Elxsi Limited Tata Technologies Limited CMC Limited Hindustan Unilever Limited Piramal Healthcare Limited Tata Teleservices (Maharashtra) Limited Tata Communications Limited Computational Research Laboratories Limited Asian Paints Limited Tata Advanced Systems Limited BSE Limited Tata Lockheed Martin Aerostructures Limited Tara Aerospace Systems Limited

Name :	Mr. Aman Mehta
Designation :	Director
Date of Birth/Age :	01.09.1946
Qualification :	Bachelors degree in Economics from Delhi University
Date of Appointment :	06.05.2004
Directorship held in other Public Companies (excluding foreign companies) :	· Wockhardt Pharmaceuticals Limited · Jet Airways Limited · Max Healthcare Institute Limited · Godrej Consumer · Products limited · Cairn India limited

Name :	Mr. V Thyagarajan
Designation :	Director
Date of Birth/Age :	19.04.1946
Qualification :	B. Tech [Elec] and M.B.A. from the Indian Institute of Management Ahmedabad
Date of Appointment :	05.09.2005
Other Directorship:	Glaxo Smithkline Pharmaceuticals Limited

Name :	Mr. Clayton M Christensen
Designation :	Director
Date of Birth/Age :	06.04.1952
Qualification :	B.A. (Economics), M.Phil. (Economics), MBA and DBA from Harvard Business School
Date of Appointment :	12.01.2006

Name :	Mr. Ron Sommer
Designation :	Director
Date of Birth/Age :	29.07.1949
Qualification :	Ph .D in mathematics
Date of Appointment :	05.09.2006
Other Directorship:	Sistema Shyam Teleservices Limited

Name :	Dr. Vijay Kelkar
Designation :	Director

Name :	Mr. Ishaat Hussain
Designation :	Director

Name :	Mr. N. Chandrasekaran
Designation :	Managing Director and Chief Executive Officer

Name :	Mr. Phiroz Vandrevala
Designation :	Executive Director

Name :	Mr. O P Bhatt
Designation :	Director
Date of Birth/Age :	07.03.1951
Qualification :	Graduate degree in Science, Post Graduate degree in English Literature (Gold Medal).
Date of Appointment :	02.04.2012
Other Directorship:	Oil and Natural Gas Corporation Limited Hindustan Unilever Limited

KEY EXECUTIVES

Name :	Mr. Suprakash Mukhopadhyay
Designation :	Company Secretary

Name :	Mr. Nishit Marwah
Designation :	Vice President of Finance

MANAGEMENT TEAM:
Corporate:	Mr. N. Chandrasekaran (Chief Executive Officer) Mr. S Mahalingam (Chief Finance Officer) Mr. Ajoyendra Mukherjee (Global Human Resources) Suprakash Mukhopadhyay (Company Secretary and Treasury) John Lenzen (Marketing) Mr. Pradipta Bagchi (Communication) Mr. K Ananth Krishnan (Research & Development) Mr. Satya Hegde (Legal) Mr. Ravindra J Shah (Compliance)

Geography Heads:	Mr. Surya Kant (North America, UK and Europe) Mr. Henry Manzano (Latin America) Ravi Viswanathan (India, APAC, Middle-East and Africa)

Human Resources :	Ms. Ritu Anand Mr. Ashok Mukherjee Mr. K. Ganesan Mr. Thomas Simon Mr. S. Narasimhan

Finance :	Mr. B. Sanyal Mr. V. Ramakrishnan Mr. Pauroos Karkaria Mr. G.S. Lakshminathan Mr. Rajesh Gopinathan Mr. Dharmesh Gandhi

Chief Compliance Officer :	Mr. Ravindra J Shah

Security :	Mr. R. K. Raghavan

INDUSTRY SERVICE UNITS:

Banking and Financial Services :	Mr. K Krithivasan Mr. Ramanamurthy Magapu Mr. Susheel Vasudevan

Insurance and Healthcare :	Mr. Suresh Muthuswami Ms. Syama Sundar

Life Sciences, Energy, Resources and Utilities and Manufacturing :	Mr. Debashis Ghosh Mr. Milind Lakkad Ms. Jayanta Banerjee

Telecom, Media and Hi-Tech :	A S Lakshminarayanan Kamal Bhadada Nagaraj Ijari N Sivasamban V Rajanna Sudheer Warrier

Retail and CPG and Travel and Hospitality :	Pratik Pal S Sukanya

Government :	Tanmoy Chakrabarty

STRATEGIC GROWTH UNITS:

TCS Financial Services, iON, Small and Medium Business and Platform BPO :	N G Subramaniam Venguswamy Ramaswamy Raj Agrawal

SERVICE UNITS:

Global Consulting Practice:	Mr. J Rajagopal

Engineering and Industrial Services :	Mr. Regu Ayyaswamy

Infrastructure Services :	Mr. P R Krishnan

Business Process Services :	Mr. Abid Ali Neemuchwala

Assurance Services :	Mr. Siva Ganesan

Enterprise Solutions :	Mr. Krishnan Ramanujam

Alliances :	Mr. Raman Venkatraman

Digital Solutions :	Mr. Satya Ramaswamy

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 31.03.2014

Category of Shareholder	Total No. of Shares	% of Total No. of Shares
(A) Shareholding of Promoter and Promoter Group
(1) Indian
Bodies Corporate	1445813486	73.81
Any Others (Specify)	1607624	0.08
Trusts	1607624	0.08
Sub Total	1447421110	73.90
(2) Foreign
Total shareholding of Promoter and Promoter Group (A)	1447421110	73.90
(B) Public Shareholding
(1) Institutions
Mutual Funds / UTI	24603469	1.26
Financial Institutions / Banks	414592	0.02
Central Government / State Government(s)	378954	0.02
Insurance Companies	79667652	4.07
Foreign Institutional Investors	315454993	16.11
Sub Total	420519660	21.47
(2) Non-Institutions
Bodies Corporate	8733013	0.45
Individuals
Individual shareholders holding nominal share capital up to Rs. 0.100 million	65065913	3.32
Individual shareholders holding nominal share capital in excess of Rs. 0.100 million	13974714	0.71
Any Others (Specify)	3013569	0.15
Trusts	971612	0.05
Clearing Members	2041929	0.10
Foreign Corporate Bodies	28	0.00
Sub Total	90787209	4.64
Total Public shareholding (B)	511306869	26.10
Total (A)+(B)	1958727979	100.00
(C) Shares held by Custodians and against which Depository Receipts have been issued	0	0.00
(1) Promoter and Promoter Group	0	0.00
(2) Public	0	0.00
Sub Total	0	0.00
Total (A)+(B)+(C)	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 :

Item Code No. (ITC Code)	Product Description
85249009	Computer Software

GENERAL INFORMATION

Customers :

ABB
ABN
Allianz Life
Boots UK Limited
Commerzbank
Deutsche Borse Group
Eaton
Electronic Arts
EMD
Ferrari Scuderia
Harmony Gold
Hays
HP
Hutchinson 3G
Hyundai
Infineon
ING Group
Microsoft

No. of Employees :

Not Divulged

Bankers :

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

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Millions)	31.03.2013 (Rs. In Millions)
LONG TERM BORROWINGS
Long term maturities of obligations under finance lease	886.400	815.800

SHORT TERM BORROWINGS
From Banks
Overdraft	0.000	800.200
Total	886.400	1616.000

NOTE:

LONG TERM BORROWINGS

Obligations under finance lease are secured against fixed assets obtained under finance lease arrangements.

SHORT TERM BORROWINGS

Bank Overdrafts are secured against book debts.

Banking Relations :

Auditors :

Name :

Deloitte Haskins and Sells

Chartered Accountants

Holding Company :

Tata Sons Limited

(A) Subsidiaries (Direct holding)	(B) Subsidiaries (Indirect holding)
1. CMC Limited	i.CMC Americas Inc. ii. CMC e-Biz Inc
2. Tata Consultancy Services Sverige AB
3. Tata Consultancy Services Asia Pacific Pte Limited	i. Tata Consultancy Services Japan Limited ii. Tata Consultancy Services Malaysia Sdn Bhd iii. Tata Consultancy Services (China) Company, Limited iv. PT Tata Consultancy Services Indonesia v. Tata Consultancy Services (Thailand) Limited vi.Tata Consultancy Services (Philippines) Inc. vii. Nippon TCS Solution Center Limited viii. Tata Information Technology (Shanghai) Company Limited (Amalgamated with Tata Consultancy services (China) Co., Limited w.e.f. November 5, 2013)
4. TCS Iberoamerica SA	i. TCS Solution Center S.A. ii. Tata Consultancy Services Argentina S.A. iii. Tata Consultancy Services De Mexico S.A., De C.V. iv. TCS Inversiones Chile Limited v. Tata Consultancy Services Do Brasil Ltda vi. Tata Consultancy Services Chile S.A. vii TATASOLUTION CENTER S.A viii. TCS Uruguay
5. Tata Consultancy Services Netherlands BV	i. Tata Consultancy Services Luxembourg S.A ii. Tata Consultancy Services Switzerland Limited iii. Tata Consultancy Services France SAS iv. TCS Italia SRL v. Tata Consultancy Services Osterreich GmbH vi. Tata Consultancy Services Danmark ApS vii. Tata Consultancy Services De Espana S.A. viii. Tata Consultancy Services Portugal Unipessoal Limitada ix. Alti S.A. (w.e.f. June 28, 2013) x. Planaxis Technologies Inc. (w.e.f. June 28, 2013) xi. Alti HR S.A.S. (w.e.f. June 28, 2013) xii. Alti Infrastructures Systemes & Reseaux S.A.S. (w.e.f. June 28, 2013) xiii. Alti NV (w.e.f. June 28, 2013) xiv. TESCOM (France) Software Systems Testing S.A.R.L. (w.e.f June 28, 2013) xv. Alti Switzerland S.A. (w.e.f. June 28, 2013) xvi. Teamlink (w.e.f. June 28, 2013)
6. TCS FNS Pty Limited	i. TCS Financial Solutions Australia Holdings Pty Limited ii. TCS Financial Solutions Australia Pty Limited iii. PT Financial Network Services iv. TCS Management Pty Limited v. TCS Financial Solution (Beijing) Company Limited
7. APOnline Limited
8. Tata America International Corporation	i. MS CJV Investments Corporation
9. Tata Consultancy Services Belgium S.A.
10. Tata Consultancy Services Deutschland GmbH
11. WTI Advanced Technology Limited
12. Tata Consultancy Services Canada Inc.
13. Diligenta Limited	i. Diligenta 2 Limited
14. C-Edge Technologies Limited
15. MP Online Limited
16. Tata Consultancy Services Morocco SARL AU
17. Tata Consultancy Services (Africa)(PTY) Limited	i. Tata Consultancy Services (South Africa) (PTY) Limited
18. TCS e-Serve International Limited	i. TCS e-Serve America, Inc
19. TCS e-Serve Limited (Amalgamated w.e.f. April 1, 2013)
20. MahaOnline Limited
21. Tata Consultancy Services Qatar S. S. C.
22. Computational Research Laboratories Inc.
23. Computational Research Laboratories Limited (w.e.f.16.08.2012 upto 30.09.2012)

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)

CAPITAL STRUCTURE

After 28.06.2013

Authorised Capital : Rs. 5250.700 Millions

Issued, Subscribed & Paid-up Capital : Rs. 2958.728 Millions

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

4200500000	Equity Shares	Rs.1/- each	Rs.4200.500 Millions
	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

1957220996	Equity Shares	Rs.1/- each	Rs.1957.200 Millions
1506983	Redeemable Preference Shares	Rs.1/- each	Rs.1.500 Millions

	Total		Rs.1958.700 Millions

The Authorised Share Capital was increased to 420,05,00,000 equity shares of Rs. 1 each and 105,02,50,000 redeemable preference shares of Rs. 1 each pursuant to the amalgamation of two wholly-owned subsidiaries, Retail Full Serve Limited and Computational Research Laboratories Limited vide Order dated March 22, 2013 and TCS e-Serve limited vide Order dated September 6, 2013 of the Hon’ble High Court of Judicature at Bombay.

* 100,00,00,000 Redeemable Preference Shares of Rs. 1 each , held by Tata Sons Limited were redeemed on March 28, 2014. Consequently, an amount of Rs. 1000.000 millions has been transferred from the surplus in the statement of profit and loss to Capital redemption reserve on that date. The fixed cumulative dividend of 1 % per annum and the variable non-cumulative dividend on the shares so redeemed will be paid consequent to the shareholder’s approval in a general meeting.

a) Reconciliation of number of shares

Particular	31^st March, 2014
Particular	Number of shares	Rs. In Millions
EQUITY SHARES
Opening balance	195,72,20,996	1957.200
Changes during the year	1506983	1.500
Closing balance	1958727979	1958.700

PREFERENCE SHARES
Opening balance	100,00,00,000	1000.000
Changes during the year	(100,00,00,000)	(1000.000)
Closing balance	--	--

b) Rights, preferences and restrictions attached to shares

Equity shares

The Company has one class of equity shares having a par value of Rs.1 each. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.

Preference shares

Preference shares carried a fixed cumulative dividend of 1% per annum and a variable non-cumulative dividend of 1% of the difference between the rate of dividend declared during the year on the equity shares of the Company and the average rate of dividend declared on the equity shares of the Company for three years preceding the year of issue of the redeemable preference shares.

c) Shares held by holding company, its subsidiaries and associates

Particular	31^st March, 2014 (Rs. In Millions)
Equity shares
Holding Company
144,34,51,698 equity shares (March 31, 2013 : 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, 2013 : 10,29,700 equity shares) are held by Tata Industries Limited	1.000
5,90,452 equity shares (March 31, 2013 : 5,90,452 equity shares) are held by Tata Investment Corporation Limited	0.600
200 equity shares (March 31, 2013 : 200 equity shares) are held by Tata Capital Limited	--
83,232 equity shares (March 31, 2013 : 83,232 equity shares) are held by Tata International Limited	0.100
452 equity shares (March 31, 2013 : 452 equity shares) are held by The Tata Power Company Limited	--
TOTAL	1445.200
Preference shares
Holding Company
Nil redeemable preference shares (March 31, 2013 : 100,00,00,000 redeemable preference shares) are held by Tata Sons Limited	--
TOTAL	--

d) Details of shares held by shareholders holding more than 5% of the aggregate shares in the Company

Particular	31^st March, 2014 (Rs. In Millions)
Equity shares
Tata Sons Limited, the Holding Company	144,34,51,698
	73.69%
Preference shares
Tata Sons Limited, the Holding Company	--
	--

e) Equity shares allotted as fully paid up (during 5 years preceding March 31, 2014) include equity shares issued:

(i) Pursuant to contract without payment being received in cash

15,06,983 equity shares issued to the shareholders of TCS e-Serve Limited in terms of the composite scheme of arrangement (Scheme) sanctioned by the High Court of Judicature at Bombay vide their Order dated September 6, 2013.

(ii) Bonus shares

The Company allotted 97,86,10,498 equity shares as fully paid up bonus shares by utilisation of Securities premium reserve on June 18, 2009 pursuant to 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	31.03.2014	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	1958.700	2957.200	2957.200
(b) Reserves & Surplus	438560.100	322665.300	245609.100
(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)	440518.800	325622.500	248566.300

(3) Non-Current Liabilities
(a) long-term borrowings	896.900	831.000	962.300
(b) Deferred tax liabilities (Net)	2268.700	1684.900	1181.000
(c) Other long term liabilities	6904.400	2518.700	1975.900
(d) long-term provisions	2796.100	2695.200	1547.800
Total Non-current Liabilities (3)	12866.100	7729.800	5667.000

(4) Current Liabilities
(a) Short term borrowings	0.000	800.200	0.000
(b) Trade payables	39775.500	33499.400	28479.100
(c) Other current liabilities	24603.200	21727.100	15985.600
(d) Short-term provisions	58278.300	38961.400	43890.100
Total Current Liabilities (4)	122657.000	94988.100	88354.800

TOTAL	576041.900	428340.400	342588.100

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	58870.900	50594.800	40121.600
(ii) Intangible Assets	421.000	448.000	514.600
(iii) Capital work-in-progress	30475.300	17638.500	13998.200
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	50985.500	59757.300	51470.600
(c) Deferred tax assets (net)	2735.800	1482.300	1397.400
(d) Long-term Loan and Advances	68755.400	46302.100	43328.100
(e) Other Non-current assets	15449.900	18812.000	26368.800
Total Non-Current Assets	227693.800	195035.000	177199.300

(2) Current assets
(a) Current investments	7338.700	3486.500	5413.300
(b) Inventories	85.700	63.400	41.400
(c) Unbilled revenues	26260.800	23033.500	15674.700
(d) Trade receivables	144718.900	112023.200	91077.200
(e) Cash and cash equivalents	125662.600	40541.600	32800.700
(f) Short-term loans and advances	36881.200	47333.800	16497.400
(g) Other current assets	7400.200	6823.400	3884.100
Total Current Assets	348348.100	233305.400	165388.800

TOTAL	576041.900	428340.400	342588.100

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	646729.300	484261.400	381042.300
		Other Income	31147.100	22303.900	26851.800
		TOTAL	677876.400	506565.300	407894.100

Less	EXPENSES
		Employees benefits expense	214665.600	170817.200	135726.800
		Other expenses and Operation	216726.500	170381.500	131458.300
		TOTAL	431392.100	341198.700	267185.100

	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		246484.300	165366.600	140709.000

Less	FINANCIAL EXPENSES		234.100	306.200	164.000

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		246250.200	165060.400	140545.000

Less/ Add	DEPRECIATION/ AMORTISATION		10805.500	8028.600	6881.700

	PROFIT/ (LOSS) BEFORE TAX		235444.700	157031.800	133663.300

Less	TAX		50695.500	29168.400	23903.500

	PROFIT/ (LOSS) AFTER TAX		184749.200	127863.400	109759.800

Less/ Add	TRANSFER TO AMALGAMATION		23752.200	(1030.000)	0.000

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		246028.500	182352.000	140692.000

Less	APPROPRIATIONS
		Interim dividends on equity shares	23498.700	17614.900	17614.900
		Proposed final dividend on equity shares	39174.600	25443.900	31315.500
		Dividend on redeemable preference shares	287.600	190.000	220.000
		Tax on dividend	7889.600	7121.800	7973.400
		General reserve	18474.900	12786.300	10976.000
		Capital redemption reserves	1000.000	0.000	0.000
	BALANCE CARRIED TO THE B/S		364204.500	246028.500	182352.000

	EARNINGS IN FOREIGN CURRENCY
		Consultancy services	603738.100	447212.200	347920.200
		FOB value of exports of equipment and licenses	2611.500	1300.200	1444.600
		Interest income	67.600	104.600	296.000
		Dividend income	15823.800	10490.500	23746.000
		Other income (net)	367.400	318.100	43.800
	TOTAL EARNINGS		622608.400	459425.600	373450.600

	IMPORTS
		Raw Materials	329.600	203.500	81.900
		Stores & Spares	0.000	0.100	0.100
		Capital Goods	5896.000	3524.200	2274.900
	TOTAL IMPORTS		6225.6	3727.800	2356.900

	Earnings / (Loss) Per Share (Rs.)		94.15	65.22	55.95

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
PAT / Total Income	(%)	27.25	25.24	26.91

Net Profit Margin (PBT/Sales)	(%)	36.41	32.43	35.08

Return on Total Assets (PBT/Total Assets}	(%)	47.87	44.94	48.48

Return on Investment (ROI) (PBT/Networth)		0.53	0.48	0.54

Debt Equity Ratio (Total Debt/Networth)		0.00	0.01	0.00

Current Ratio (Current Asset/Current Liability)		2.84	2.46	1.87

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	2957.200	2957.200	1958.700
Reserves & Surplus	245609.100	322665.300	438560.100
Net worth	248566.300	325622.500	440518.800

long-term borrowings	962.300	831.000	896.900
Short term borrowings	0.000	800.200	0.000
Total borrowings	962.300	1631.200	896.900
Debt/Equity ratio	0.004	0.005	0.002

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	381042.300	484261.400	646729.300
		27.089	33.550

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	381042.300	484261.400	646729.300
Profit	109759.800	127863.400	184749.200
	28.81%	26.40%	28.57%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	Yes
9]	Name of person contacted	No
10]	Designation of contact person	No
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	-----
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	-----
22]	Litigations that the firm / promoter involved in	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

Lodging No.:- ITXAL/318/2013 Filing 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

District: MUMBAI

Bench: DIVISION

Status: Pre-Admission Category: TAX APPEAL

Next Date: 11/04/2014 Stage: FOR DIRECTION

Coram: ACCORDING TO SITTING LIST

ACCORDING TO SITTING LIST

Last Date:- 19/03/2013 Stage :- FOR DIRECTION

Last Coram: HON’BLE SHRI JUSTICE J.P. DEVADHAR

HON’BLE SHRI JUSTICE M.S. SANKLECHA

Act: Income Tax Act, 1961 UNDER SECTION: 260A

UNSECURED LOANS

PARTICULAR	31.03.2014 (Rs. In Millions)	31.03.2013 (Rs. In Millions)
LONG TERM BORROWINGS
Other borrowings (from entities other than banks)	10.500	15.200

Total	10.500	15.200

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 - 400001, INDIA	-
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, Maharashtra - 400001, INDIA	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 - 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	31.03.2014 (Rs. In Millions)	31.03.2013 (Rs. In Millions)
Claims against the Company not acknowledged as debts	295.700	236.700
Income Tax demands	38275.800	25897.300
Indirect Tax demands	632.700	625.900
Guarantees given by the Company on behalf of subsidiaries	40823.100	46274.200
NOTES a) In respect of income tax demands of Rs. 3182.000 millions (March 31, 2013: Rs. Nil), 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, 2013: Rs. Nil), 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. 31670.200 millions (GBP 317.20 million) (March 31, 2013: Rs. 29108.800 millions) (GBP 353.65 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. 839.100 millions (USD 13.97 million) (March 31, 2013: Rs. 12084.100 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.

REVENUE FROM OPERATIONS

Total revenue increased from Rs. 48,426.14 crores in fiscal 2013 to Rs.646729.300 millions in fiscal 2014, registering a growth of 33.55% (27.09% in fiscal 2013).

Revenue from information technology and consultancy services increased from ` 46,874.72 crores in fiscal 2013 to Rs.633328.300 millions in fiscal 2014, a growth of 35.11% (27.73% in fiscal 2013).

Revenue from sale of equipment and software licenses decreased from Rs.15514.200 millions in fiscal 2013 to Rs.13401.000 millions in fiscal 2014, a decrease of 13.62% (increase of 10.42% in fiscal 2013). Sale of equipment and software licenses constituted 2.07% of total revenue in fiscal 2014 (3.20% in fiscal 2013).

CORPORATE INFORMATION

Subject 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 of March 31, 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 64 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

CMT REPORT (Corruption, Money Laundering & Terrorism]

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

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.59.14
UK Pound	1	Rs.99.02
Euro	1	Rs.80.63

INFORMATION DETAILS

Information Gathered by :	HNA

Analysis Done by :	SUM

Report Prepared by :	ANK

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	--

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