TCS

₹3132.4 12.3 | 0.4%

WEBSITE BSE:532540 NSE : TCS LTD. 28 Mar, 11:19

Market Cap ₹1146143 Cr.

Stock P/E 28.2

P/B 10.6

Current Price ₹3132.4

Book Value ₹ 294.7

Face Value 1

52W High ₹3835.6

Dividend Yield 1.37%

52W Low ₹ 2926

Edit Ratio

TCS Research see more...

Equity Research Report: TCS -Q3FY23

Tata Consultancy Services Ltd

Equity Research Report: TCS

Overview Inc. Year: 1995Industry: IT - Software

Tata Consultancy Services Ltd (TCS) is an India-based company engaged in providing IT offerings, virtual and enterprise solutions. The Company's segments are Banking, Financial Services and Insurance, Manufacturing, Retail and Consumer Business, Communication, Media and Technology, Life Sciences and Healthcare and Others. The Company's merchandise includes TCS BaNCS, TCS Connected Intelligence Platform, ignio, TCS iON, TCS MasterCraft, TAP, CHROMA, TCS Customer Intelligence & Insights, TCS Intelligent Urban Exchange, Jile, TCS OmniStore, Quartz and The Smart Ledgers. Its systems include TCS ADD TCS BFSI Platforms ERP on Cloud and TCS HOBS. Its services portfolio consists of IT and assurance services, enterprise intelligence and overall performance management, commercial enterprise system offerings, cloud services, linked advertising solutions, mobility products and services and platform solutions. It serves industries, inclusive of insurance, healthcare, retail, telecom and others.

Quarterly Price

Quarterly Monthly

Show Value Show %

Peer Comparison

TCS Quarterly Results

#(Fig in Cr.)	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022
Net Sales	40135	42015	43705	45411	46867	48885	50591	52758	55309	58229
Other Income	914	691	931	721	1111	1205	981	789	965	520
Total Income	41049	42706	44636	46132	47978	50090	51572	53547	56274	58749
Total Expenditure	28622	29807	30904	32748	33751	35452	36746	39342	40793	42676
Operating Profit	12427	12899	13732	13384	14227	14638	14826	14205	15481	16073
Interest	174	183	138	146	142	251	245	199	148	160
Depreciation	998	1024	1067	1075	1116	1196	1217	1230	1237	1269
Exceptional Income / Expenses	-1218	0	0	0	0	0	0	0	0	0
Profit Before Tax	10037	11692	12527	12163	12969	13191	13364	12776	14096	14644
Provision for Tax	2533	2965	3245	3132	3316	3385	3405	3257	3631	3761
Profit After Tax	7504	8727	9282	9031	9653	9806	9959	9519	10465	10883
Adjustments	-29	-26	-36	-23	-29	-37	-33	-41	-34	-37
Profit After Adjustments	7475	8701	9246	9008	9624	9769	9926	9478	10431	10846
Adjusted Earnings Per Share	19.9	23.2	25	24.3	26	26.4	27.1	25.9	28.5	29.6

TCS Profit & Loss

#(Fig in Cr.)	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	TTM
Net Sales	48894	62989	81809	94648	108646	117966	123104	146463	156949	164177	191754	216887
Other Income	881	1178	1643	3230	3084	4221	3642	4311	4592	3134	4027	3255
Total Income	49775	64168	83452	97878	111730	122187	126746	150774	161541	167311	195781	220142
Total Expenditure	34912	44950	56662	70167	77969	85655	90588	106957	114840	117631	138706	159557
Operating Profit	14863	19218	26790	27712	33761	36532	36158	43817	46701	49680	57075	60585
Interest	22	48	39	104	33	32	52	198	924	637	784	752
Depreciation	918	1080	1349	1799	1888	1987	2014	2056	3529	4065	4604	4953
Exceptional Income / Expenses	0	0	0	490	0	0	0	0	0	-1218	0	0
Profit Before Tax	13923	18090	25402	26298	31840	34513	34092	41563	42248	43760	51687	54880
Provision for Tax	3400	4014	6070	6239	7502	8156	8212	10001	9801	11198	13238	14054
Profit After Tax	10523	14076	19332	20060	24338	26357	25880	31562	32447	32562	38449	40826
Adjustments	-110	-158	-168	-208	-68	-68	-54	-90	-107	-132	-122	-145
Profit After Adjustments	10413	13917	19164	19852	24270	26289	25826	31472	32340	32430	38327	40681
Adjusted Earnings Per Share	26.5	35.5	48.8	50.7	61.6	66.7	67.6	83.9	86.2	87.6	104.7	111.1

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	17%	9%	10%	15%
Operating Profit CAGR	15%	9%	9%	14%
PAT CAGR	18%	7%	8%	14%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	-16%	21%	17%	15%
ROE Average	44%	40%	37%	39%
ROCE Average	60%	54%	50%	51%

TCS Balance Sheet

#(Fig in Cr.)	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Shareholder's Funds	29579	38646	49195	50635	71072	86214	85128	89446	84126	86433	89139
Minority's Interest	559	695	708	1128	355	366	402	453	623	675	707
Borrowings	115	131	127	114	83	71	54	0	0	0	0
Other Non-Current Liabilities	432	721	1017	872	-661	-739	-565	304	6262	5565	5609
Total Current Liabilities	10389	11665	15670	20318	15569	14512	17828	22084	27060	34155	42351
Total Liabilities	41074	51858	66718	73067	86418	100424	102847	112287	118071	126828	137806
Fixed Assets	8662	9828	9544	11638	11774	11701	11973	12290	20928	21021	21298
Other Non-Current Assets	9351	10631	14267	12616	11431	8407	9650	7866	6906	6527	8198
Total Current Assets	23062	31398	42898	48813	63213	80316	81224	92131	90237	99280	108310
Total Assets	41074	51858	66718	73067	86418	100424	102847	112287	118071	126828	137806

TCS Cash Flow

#(Fig in Cr.)	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Opening Cash & Cash Equivalents	1549	1993	1841	1468	1862	6295	3597	4883	7224	8646	6858
Cash Flow from Operating Activities	6977	11615	14751	19369	19109	25223	25067	28593	32369	38802	39949
Cash Flow from Investing Activities	-2727	-6086	-9667	-1701	-5150	-16732	2886	1596	8565	-8129	-897
Cash Flow from Financing Activities	-3955	-5729	-5673	-17168	-9666	-11026	-26885	-27897	-39915	-32634	-33581
Net Cash Inflow / Outflow	295	-200	-589	500	4293	-2535	1068	2292	1019	-1961	5471
Closing Cash & Cash Equivalent	1993	1841	1468	1862	6295	3597	4883	7224	8646	6858	12488

TCS Ratios

#	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Earnings Per Share (Rs)	26.55	35.51	48.85	50.68	61.6	66.72	67.61	83.93	86.24	87.65	104.72
CEPS(Rs)	29.23	38.72	52.79	55.8	66.56	71.94	73.02	89.65	95.94	98.99	117.63
DPS(Rs)	25	22	32	79	43.5	47	50	30	73	38	43
Book NAV/Share(Rs)	75.31	98.47	125.56	129.26	180.25	217.45	223.07	238.01	222.21	231.36	242.22
Core EBITDA Margin(%)	28.6	28.64	30.74	25.86	28.24	27.39	26.41	26.97	26.83	28.35	27.66
EBIT Margin(%)	28.52	28.8	31.1	27.89	29.34	29.28	27.74	28.51	27.51	27.04	27.36
Pre Tax Margin(%)	28.48	28.72	31.05	27.78	29.31	29.26	27.69	28.38	26.92	26.65	26.95
PAT Margin (%)	21.52	22.35	23.63	21.19	22.4	22.34	21.02	21.55	20.67	19.83	20.05
Cash Profit Margin (%)	23.4	24.06	25.28	23.09	24.14	24.03	22.66	22.95	22.92	22.31	22.45
ROA(%)	28.6	30.29	32.61	28.7	30.52	28.21	25.46	29.34	28.17	26.59	29.06
ROE(%)	39.06	41.38	44.07	40.19	40.01	33.64	30.29	36.18	37.6	38.55	44.13
ROCE(%)	51.38	52.89	57.58	52.56	52.14	43.94	39.84	47.8	50.02	52.56	60.22
Receivable days	87.01	89.83	88.05	89.66	87.9	86.46	88.14	79.91	79.96	81.06	74.68
Inventory Days	0.15	0.11	0.08	0.06	0.05	0.06	0.07	0.04	0.02	0.01	0.03
Payable days	0	0	0	0	0	0	0	0	0	0	0
PER(x)	22	22.13	21.79	25.13	20.42	18.22	21.07	23.84	21.14	36.25	35.7
Price/Book(x)	7.75	7.98	8.48	9.85	6.98	5.59	6.39	8.4	8.2	13.73	15.44
Dividend Yield(%)	2.14	1.4	1.5	3.1	1.73	1.93	1.75	1.5	4	1.2	1.15
EV/Net Sales(x)	4.56	4.78	4.92	5.08	4.5	4.03	4.36	5.03	4.29	7.1	7.04
EV/Core EBITDA(x)	15	15.67	15.03	17.35	14.49	13	14.86	16.83	14.43	23.48	23.66
Net Sales Growth(%)	31	28.83	29.88	15.69	14.79	8.58	4.36	18.98	7.16	4.61	16.8
EBIT Growth(%)	26.24	30.06	40.26	3.78	20.72	8.38	-1.16	22.31	3.38	2.84	18.19
PAT Growth(%)	14.51	33.76	37.34	3.76	21.33	8.3	-1.81	21.96	2.8	0.35	18.08
EPS Growth(%)	14.73	33.75	37.57	3.75	21.55	8.32	1.32	24.14	2.76	1.63	19.48
Debt/Equity(x)	0	0.01	0.01	0.01	0	0	0	0	0	0	0
Current Ratio(x)	2.22	2.69	2.74	2.4	4.06	5.53	4.56	4.17	3.33	2.91	2.56
Quick Ratio(x)	2.22	2.69	2.74	2.4	4.06	5.53	4.55	4.17	3.33	2.91	2.56
Interest Cover(x)	627.33	374.06	660.45	253.41	965.85	1079.53	656.62	210.91	46.72	69.7	66.93
Total Debt/Mcap(x)	0	0	0	0	0	0	0	0	0	0	0

TCS Shareholding Pattern

#	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022
Promoter	72.05	72.05	72.19	72.19	72.19	72.19	72.3	72.3	72.3	72.3
FII	16	15.88	15.62	15.43	15.37	14.98	14.15	13.5	13.05	12.94
DII	7.92	7.78	7.89	8.01	7.94	7.97	7.85	8.4	8.58	9.31
Public	4.03	4.29	4.31	4.38	4.51	4.86	5.7	5.8	6.07	5.45
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022
Promoter	270.35	270.35	267.02	267.02	267.02	267.02	264.54	264.54	264.54	264.54
FII	60.04	59.58	57.79	57.07	56.85	55.41	51.77	49.39	47.76	47.36
DII	29.71	29.19	29.17	29.63	29.36	29.49	28.73	30.75	31.41	34.07
Public	15.14	16.12	15.93	16.19	16.67	17.99	20.87	21.23	22.19	19.94
Others	0	0	0	0	0	0	0	0	0	0
Total	375.24	375.24	369.91	369.91	369.91	369.91	365.91	365.91	365.91	365.91