TCS

₹3537.3 -50.4 | 1.4%

WEBSITE BSE:532540 NSE : TCS LTD. 28 Sep, 16:01

Market Cap ₹1294298 Cr.

Stock P/E 29.6

P/B 12.8

Current Price ₹3537.3

Book Value ₹ 277.4

Face Value 1

52W High ₹3633.1

Dividend Yield 3.25%

52W Low ₹ 2950.1

Edit Ratio

TCS Research see more...

TCS Q1FY24 Earning Highlights

Equity Research Report: TCS -Q4FY23

TCS Quarterly Earnings

Equity Research Report: TCS -Q3FY23

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.

TCS Share Price

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Peer Comparison

TCS Quarterly Results

#(Fig in Cr.)	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023
Net Sales	43705	45411	46867	48885	50591	52758	55309	58229	59162	59381
Other Income	931	721	1111	1205	981	789	965	520	1175	1397
Total Income	44636	46132	47978	50090	51572	53547	56274	58749	60337	60778
Total Expenditure	30904	32748	33751	35452	36746	39342	40793	42676	43388	44383
Operating Profit	13732	13384	14227	14638	14826	14205	15481	16073	16949	16395
Interest	138	146	142	251	245	199	148	160	272	163
Depreciation	1067	1075	1116	1196	1217	1230	1237	1269	1286	1243
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	12527	12163	12969	13191	13364	12776	14096	14644	15391	14989
Provision for Tax	3245	3132	3316	3385	3405	3257	3631	3761	3955	3869
Profit After Tax	9282	9031	9653	9806	9959	9519	10465	10883	11436	11120
Adjustments	-36	-23	-29	-37	-33	-41	-34	-37	-44	-46
Profit After Adjustments	9246	9008	9624	9769	9926	9478	10431	10846	11392	11074
Adjusted Earnings Per Share	25	24.3	26	26.4	27.1	25.9	28.5	29.6	31.1	30.3

TCS Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	62989	81809	94648	108646	117966	123104	146463	156949	164177	191754	225458	232081
Other Income	1178	1643	3230	3084	4221	3642	4311	4592	3134	4027	3610	4057
Total Income	64168	83452	97878	111730	122187	126746	150774	161541	167311	195781	229068	236138
Total Expenditure	44950	56662	70167	77969	85655	90588	106957	114840	117631	138706	166360	171240
Operating Profit	19218	26790	27712	33761	36532	36158	43817	46701	49680	57075	62708	64898
Interest	48	39	104	33	32	52	198	924	637	784	779	743
Depreciation	1080	1349	1799	1888	1987	2014	2056	3529	4065	4604	5022	5035
Exceptional Income / Expenses	0	0	490	0	0	0	0	0	-1218	0	0	0
Profit Before Tax	18090	25402	26298	31840	34513	34092	41563	42248	43760	51687	56907	59120
Provision for Tax	4014	6070	6239	7502	8156	8212	10001	9801	11198	13238	14604	15216
Profit After Tax	14076	19332	20060	24338	26357	25880	31562	32447	32562	38449	42303	43904
Adjustments	-158	-168	-208	-68	-68	-54	-90	-107	-132	-122	-156	-161
Profit After Adjustments	13917	19164	19852	24270	26289	25826	31472	32340	32430	38327	42147	43743
Adjusted Earnings Per Share	35.5	48.8	50.7	61.6	66.7	67.6	83.9	86.2	87.6	104.7	115.2	119.5

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	18%	13%	13%	14%
Operating Profit CAGR	10%	10%	12%	13%
PAT CAGR	10%	9%	10%	12%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	16%	13%	10%	14%
ROE Average	47%	43%	41%	39%
ROCE Average	64%	59%	55%	52%

TCS Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	38646	49195	50635	71072	86214	85128	89446	84126	86433	89139	90424
Minority's Interest	695	708	1128	355	366	402	453	623	675	707	782
Borrowings	131	127	114	83	71	54	0	0	0	0	0
Other Non-Current Liabilities	721	1017	872	-661	-739	-565	304	6262	5565	5609	5580
Total Current Liabilities	11665	15670	20318	15569	14512	17828	22084	27060	34155	42351	43558
Total Liabilities	51858	66718	73067	86418	100424	102847	112287	118071	126828	137806	140344
Fixed Assets	9828	9544	11638	11774	11701	11973	12290	20928	21021	21298	20515
Other Non-Current Assets	10631	14267	12616	11431	8407	9650	7866	6906	6527	8198	9559
Total Current Assets	31398	42898	48813	63213	80316	81224	92131	90237	99280	108310	110270
Total Assets	51858	66718	73067	86418	100424	102847	112287	118071	126828	137806	140344

TCS Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	1993	1841	1468	1862	6295	3597	4883	7224	8646	6858	12488
Cash Flow from Operating Activities	11615	14751	19369	19109	25223	25067	28593	32369	38802	39949	41965
Cash Flow from Investing Activities	-6086	-9667	-1701	-5150	-16732	2886	1596	8565	-8129	-897	39
Cash Flow from Financing Activities	-5729	-5673	-17168	-9666	-11026	-26885	-27897	-39915	-32634	-33581	-47878
Net Cash Inflow / Outflow	-200	-589	500	4293	-2535	1068	2292	1019	-1961	5471	-5874
Closing Cash & Cash Equivalent	1841	1468	1862	6295	3597	4883	7224	8646	6858	12488	7123

TCS Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	35.51	48.85	50.68	61.6	66.72	67.61	83.93	86.24	87.65	104.72	115.16
CEPS(Rs)	38.72	52.79	55.8	66.56	71.94	73.02	89.65	95.94	98.99	117.63	129.3
DPS(Rs)	22	32	79	43.5	47	50	30	73	38	43	115
Book NAV/Share(Rs)	98.47	125.56	129.26	180.25	217.45	223.07	238.01	222.21	231.36	242.22	246.95
Core EBITDA Margin(%)	28.64	30.74	25.86	28.24	27.39	26.41	26.97	26.83	28.35	27.66	26.21
EBIT Margin(%)	28.8	31.1	27.89	29.34	29.28	27.74	28.51	27.51	27.04	27.36	25.59
Pre Tax Margin(%)	28.72	31.05	27.78	29.31	29.26	27.69	28.38	26.92	26.65	26.95	25.24
PAT Margin (%)	22.35	23.63	21.19	22.4	22.34	21.02	21.55	20.67	19.83	20.05	18.76
Cash Profit Margin (%)	24.06	25.28	23.09	24.14	24.03	22.66	22.95	22.92	22.31	22.45	20.99
ROA(%)	30.29	32.61	28.7	30.52	28.21	25.46	29.34	28.17	26.59	29.06	30.42
ROE(%)	41.38	44.07	40.19	40.01	33.64	30.29	36.18	37.6	38.55	44.13	47.26
ROCE(%)	52.89	57.58	52.56	52.14	43.94	39.84	47.8	50.02	52.56	60.22	64.44
Receivable days	89.83	88.05	89.66	87.9	86.46	88.14	79.91	79.96	81.06	74.68	74.28
Inventory Days	0.11	0.08	0.06	0.05	0.06	0.07	0.04	0.02	0.01	0.03	0.04
Payable days	0	0	0	0	0	0	0	0	0	0	0
PER(x)	22.13	21.79	25.13	20.42	18.22	21.07	23.84	21.14	36.25	35.7	27.84
Price/Book(x)	7.98	8.48	9.85	6.98	5.59	6.39	8.4	8.2	13.73	15.44	12.98
Dividend Yield(%)	1.4	1.5	3.1	1.73	1.93	1.75	1.5	4	1.2	1.15	3.59
EV/Net Sales(x)	4.78	4.92	5.08	4.5	4.03	4.36	5.03	4.29	7.1	7.04	5.16
EV/Core EBITDA(x)	15.67	15.03	17.35	14.49	13	14.86	16.83	14.43	23.48	23.66	18.53
Net Sales Growth(%)	28.83	29.88	15.69	14.79	8.58	4.36	18.98	7.16	4.61	16.8	17.58
EBIT Growth(%)	30.06	40.26	3.78	20.72	8.38	-1.16	22.31	3.38	2.84	18.19	9.94
PAT Growth(%)	33.76	37.34	3.76	21.33	8.3	-1.81	21.96	2.8	0.35	18.08	10.02
EPS Growth(%)	33.75	37.57	3.75	21.55	8.32	1.32	24.14	2.76	1.63	19.48	9.97
Debt/Equity(x)	0.01	0.01	0.01	0	0	0	0	0	0	0	0
Current Ratio(x)	2.69	2.74	2.4	4.06	5.53	4.56	4.17	3.33	2.91	2.56	2.53
Quick Ratio(x)	2.69	2.74	2.4	4.06	5.53	4.55	4.17	3.33	2.91	2.56	2.53
Interest Cover(x)	374.06	660.45	253.41	965.85	1079.53	656.62	210.91	46.72	69.7	66.93	74.05
Total Debt/Mcap(x)	0	0	0	0	0	0	0	0	0	0	0

TCS Shareholding Pattern

#	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023
Promoter	72.19	72.19	72.19	72.19	72.3	72.3	72.3	72.3	72.3	72.3
FII	15.62	15.43	15.37	14.98	14.15	13.5	13.05	12.94	12.72	12.46
DII	7.89	8.01	7.94	7.97	7.85	8.4	8.58	9.31	9.63	9.86
Public	4.31	4.38	4.51	4.86	5.7	5.8	6.07	5.45	5.35	5.38
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023
Promoter	267.02	267.02	267.02	267.02	264.54	264.54	264.54	264.54	264.54	264.54
FII	57.79	57.07	56.85	55.41	51.77	49.39	47.76	47.36	46.53	45.59
DII	29.17	29.63	29.36	29.49	28.73	30.75	31.41	34.07	35.25	36.08
Public	15.93	16.19	16.67	17.99	20.87	21.23	22.19	19.94	19.59	19.7
Others	0	0	0	0	0	0	0	0	0	0
Total	369.91	369.91	369.91	369.91	365.91	365.91	365.91	365.91	365.91	365.91

Pros

Company has a good return on equity (ROE) track record: 3 Years ROE 43%
Company is almost debt free.

Cons

Stock is trading at 12.8 times its book value.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.