Tata Consultancy Services Financial Statements

Tata Consultancy Services Half Yearly 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 Sep-2020 Mar-2020 Sep-2019 Mar-2019
Gross Sales 85,720 78,457 79,800 77,149 75,348
Excise Duty -- -- -- -- --
Net Sales 85,720 78,457 79,800 77,149 75,348
Other Operating Income -- -- -- -- --
Other Income 1,622 1,512 1,556 3,036 2,356
Total Income 87,342 79,969 81,356 80,185 77,704
Total Expenditure ** 60,711 58,138 57,953 56,887 55,191
PBIDT 26,631 21,831 23,403 23,298 22,513
Interest 321 316 474 450 44
PBDT 26,310 21,515 22,929 22,848 22,469
Depreciation 2,091 1,974 1,848 1,681 1,056
Minority Interest Before NP -- -- -- -- --
Tax 6,121 5,514 5,657 4,721 5,671
Deferred Tax 89 (526) (812) 235 (531)
Reported Profit After Tax 18,009 14,553 16,236 16,211 16,273
Minority Interest After NP 62 70 69 38 42
Net Profit after Minority Interest 17,947 14,483 16,167 16,173 16,231
Extra-ordinary Items -- (874) -- -- --
Adjusted Profit After Extra-ordinary item 17,947 15,357 16,167 16,173 16,231
EPS (Unit Curr.) 48.50 38.60 43.10 43.10 43.30
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- 1,700 -- 5,000 --
Equity 370 375 375 375 375
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(%) 31.10 27.80 29.30 30.20 29.90
PBDTM(%) -- -- -- -- --
PATM(%) 21 18.50 20.30 21 21.60
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