Tata Consultancy Services Financial Statements

Tata Consultancy Services Annually Results

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Y/e 31 Mar Mar-2021 Mar-2020 Mar-2019 Mar-2018
Growth matrix (%)        
Revenue growth 4.61 7.16 19 4.36
Op profit growth 10.50 6.59 21.50 0.63
EBIT growth 5.66 3.38 22.30 (1.20)
Net profit growth 0.28 2.76 21.90 (1.80)
Profitability ratios (%)        
OPM 28.40 26.80 27 26.40
EBIT margin 27.80 27.50 28.50 27.70
Net profit margin 19.80 20.60 21.50 21
RoCE 47.90 46.60 46.90 39
RoNW 9.51 9.32 9.01 7.54
RoA 8.52 8.72 8.84 7.38
Per share ratios ()        
EPS 88 86.50 84.20 136
Dividend per share 38 73 30 50
Cash EPS 76.70 76.80 78.40 124
Book value per share 234 224 238 445
Valuation ratios        
P/E 36.10 21.10 23.80 10.50
P/CEPS 41.40 23.70 25.50 11.50
P/B 13.60 8.13 8.39 3.20
EV/EBIDTA 23.60 14.60 16.80 14.90
Payout (%)        
Dividend payout -- 17.70 4.25 42.60
Tax payout (25) (23) (24) (24)
Liquidity ratios        
Debtor days 67.40 67.30 65.20 70.50
Inventory days 0.01 0.02 0.04 0.07
Creditor days (24) (22) (20) (21)
Leverage ratios        
Interest coverage (72) (47) (211) (657)
Net debt / equity -- -- (0.10) (0.10)
Net debt / op. profit -- -- (0.30) (0.20)
Cost breakup ()        
Material costs -- -- (1.50) (2.20)
Employee costs (56) (55) (53) (54)
Other costs (16) (18) (18) (17)
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Y/e 31 Mar( In .Cr) Mar-2021 Mar-2020 Mar-2019 Mar-2018
Revenue 164,177 156,949 146,463 123,104
yoy growth (%) 4.61 7.16 19 4.36
Raw materials (14) (17) (2,270) (2,700)
As % of sales 0.01 0.01 1.55 2.19
Employee costs (91,814) (85,952) (78,246) (66,396)
As % of sales 55.90 54.80 53.40 53.90
Other costs (25,803) (28,871) (26,441) (21,492)
As % of sales 15.70 18.40 18.10 17.50
Operating profit 46,546 42,109 39,506 32,516
OPM 28.40 26.80 27 26.40
Depreciation (4,065) (3,529) (2,056) (2,014)
Interest expense (637) (924) (198) (52)
Other income 3,134 4,592 4,311 3,642
Profit before tax 44,978 42,248 41,563 34,092
Taxes (11,198) (9,801) (10,001) (8,212)
Tax rate (25) (23) (24) (24)
Minorities and other (132) (107) (90) (54)
Adj. profit 33,648 32,340 31,472 25,826
Exceptional items (1,218) -- -- --
Net profit 32,430 32,340 31,472 25,826
yoy growth (%) 0.28 2.76 21.90 (1.80)
NPM 19.80 20.60 21.50 21
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Y/e 31 Mar ( In .Cr) Mar-2021 Mar-2020 Mar-2019 Mar-2018
Profit before tax 44,978 42,248 41,563 34,092
Depreciation (4,065) (3,529) (2,056) (2,014)
Tax paid (11,198) (9,801) (10,001) (8,212)
Working capital 28,113 26,397 22,068 1,643
Other operating items -- -- -- --
Operating cashflow 57,828 55,315 51,574 25,509
Capital expenditure 29,427 24,993 11,389 8,837
Free cash flow 87,255 80,308 62,963 34,346
Equity raised 77,916 80,774 96,028 117,676
Investments 27,610 25,006 27,433 32,574
Debt financing/disposal 7,801 8,075 (125) 224
Dividends paid -- -- -- 9,571
Other items -- -- -- --
Net in cash 200,583 194,162 186,299 194,393
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Y/e 31 Mar ( In .Cr) Mar-2021 Mar-2020 Mar-2019 Mar-2018
Equity capital 370 375 375 191
Preference capital -- -- -- --
Reserves 86,063 83,751 89,071 84,937
Net worth 86,433 84,126 89,446 85,128
Minority interest
Debt 7,795 8,174 62 247
Deferred tax liabilities (net) 1,276 1,259 1,192 1,171
Total liabilities 96,179 94,182 91,153 86,948
Fixed assets 21,947 21,834 13,253 13,251
Intangible assets
Investments 29,373 26,356 29,330 36,008
Deferred tax asset (net) 4,440 3,308 2,806 3,450
Net working capital 31,090 33,018 32,916 27,078
Inventories 8 5 10 26
Inventory Days 0.02 0.01 0.02 0.08
Sundry debtors 30,079 30,532 27,346 24,943
Debtor days 66.90 71 68.10 74
Other current assets 36,092 29,678 29,500 21,458
Sundry creditors (8,259) (7,242) (6,595) (5,356)
Creditor days 18.40 16.80 16.40 15.90
Other current liabilities (26,830) (19,955) (17,345) (13,993)
Cash 9,329 9,666 12,848 7,161
Total assets 96,179 94,182 91,153 86,948
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Particulars ( Rupees In Crores.) Mar-2021 Mar-2020 Mar-2019 Mar-2018 Mar-2017
Gross Sales 164,177 156,949 146,463 123,104 117,966
Excise Duty -- -- -- -- --
Net Sales 164,177 156,949 146,463 123,104 117,966
Other Operating Income -- -- -- -- --
Other Income 3,134 4,592 4,311 3,642 4,221
Total Income 167,311 161,541 150,774 126,746 122,187
Total Expenditure ** 118,849 114,840 106,957 90,588 85,655
PBIDT 48,462 46,701 43,817 36,158 36,532
Interest 637 924 198 52 32
PBDT 47,825 45,777 43,619 36,106 36,500
Depreciation 4,065 3,529 2,056 2,014 1,987
Minority Interest Before NP -- -- -- -- --
Tax 11,635 10,378 9,502 8,265 8,235
Deferred Tax (437) (577) 499 (53) (79)
Reported Profit After Tax 32,562 32,447 31,562 25,880 26,357
Minority Interest After NP 132 107 90 54 68
Net Profit after Minority Interest 32,430 32,340 31,472 25,826 26,289
Extra-ordinary Items (894) -- -- -- --
Adjusted Profit After Extra-ordinary item 33,324 32,340 31,472 25,826 26,289
EPS (Unit Curr.) 86.70 86.20 83.10 67.10 133
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) 3,800 7,300 3,000 5,000 4,700
Equity 370 375 375 191 197
Public Shareholding (Number) -- -- -- -- --
Public Shareholding (%) -- -- -- -- --
Pledged/Encumbered - No. of Shares -- -- -- -- --
Pledged/Encumbered - % in Total Promoters Holding -- -- -- -- --
Pledged/Encumbered - % in Total Equity -- -- -- -- --
Non Encumbered - No. of Shares -- -- -- -- --
Non Encumbered - % in Total Promoters Holding -- -- -- -- --
Non Encumbered - % in Total Equity -- -- -- -- --
PBIDTM(%) 29.50 29.80 29.90 29.40 31
PBDTM(%) 29.10 29.20 29.80 29.30 30.90
PATM(%) 19.80 20.70 21.50 21 22.30
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