TCS

₹4170.3 -101.2 | 2.4%

WEBSITE BSE:532540 NSE : TCS LTD. 20 Dec, 16:02

Market Cap ₹1508851 Cr.

Stock P/E 32.7

P/B 18.1

Current Price ₹4170.3

Book Value ₹ 230.5

Face Value 1

52W High ₹4585.9

Dividend Yield 1.75%

52W Low ₹ 3593.3

Edit Ratio

TCS Research see more...

Research Report: TCS

Tata Consultancy Services Ltd. (Q2FY24 Result Analysis)

TCS Q1FY24 Earning Highlights

Equity Research Report: TCS -Q4FY23

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.)
Net Sales
Other Income
Total Income
Total Expenditure
Operating Profit
Interest
Depreciation
Exceptional Income / Expenses
Profit Before Tax
Provision for Tax
Profit After Tax
Adjustments
Profit After Adjustments
Adjusted Earnings Per Share

TCS Profit & Loss

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Net Sales	64673	73578	85864	92693	97356	123170	131306	135963	160341	190354	202359
Other Income	3115	4480	3757	4568	5803	7627	8082	5400	7486	5504	7273
Total Income	67788	78058	89621	97261	103159	130797	139388	141363	167827	195858	209632
Total Expenditure	43139	52563	58810	65604	69551	88206	93953	95653	114096	139533	146512
Operating Profit	24648	25495	30811	31657	33608	42591	45435	45710	53731	56325	63120
Interest	23	80	13	16	30	170	743	537	486	695	673
Depreciation	1081	1394	1459	1575	1647	1716	2701	3053	3522	3940	3887
Exceptional Income / Expenses	0	528	0	0	0	0	0	-1218	0	0	-958
Profit Before Tax	23544	24550	29339	30066	31931	40705	41991	40902	49723	51690	57602
Provision for Tax	5070	5293	6264	6413	6690	10640	8731	9942	11536	12584	14043
Profit After Tax	18475	19257	23075	23653	25241	30065	33260	30960	38187	39106	43559
Adjustments	0	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	18475	19257	23075	23653	25241	30065	33260	30960	38187	39106	43559
Adjusted Earnings Per Share	47.1	49.2	58.6	60	66.1	80.2	88.7	83.7	104.3	106.8	120.3

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	6%	14%	10%	12%
Operating Profit CAGR	12%	11%	8%	10%
PAT CAGR	11%	12%	8%	9%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	10%	5%	13%	13%
ROE Average	60%	54%	50%	44%
ROCE Average	80%	72%	66%	58%

TCS Balance Sheet

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Shareholder's Funds	44052	45416	65013	78022	75866	78898	74368	74794	77173	74538	72120
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Borrowings	90	65	50	44	39	0	0	0	0	0	0
Other Non-Current Liabilities	923	817	-1255	-1456	-1958	-391	4362	2902	3410	3501	3443
Total Current Liabilities	12266	16464	11309	10701	14058	18896	24026	28525	37901	39324	43061
Total Liabilities	57331	62762	75117	87311	88005	97403	102756	106221	118484	117363	118624
Fixed Assets	5929	7996	9080	9231	9440	9661	16122	16059	16524	15690	14953
Other Non-Current Assets	16567	14335	12660	9638	10343	8710	7440	7002	7768	8889	8753
Total Current Assets	34835	40430	53377	68442	68222	79032	79194	83160	94192	92784	94918
Total Assets	57331	62762	75117	87311	88005	97403	102756	106221	118484	117363	118624

TCS Cash Flow

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Opening Cash & Cash Equivalents	324	438	461	4383	790	1278	3327	3852	1112	8197	1462
Cash Flow from Operating Activities	12942	16320	17986	23132	21587	23998	26603	33822	36127	37029	39142
Cash Flow from Investing Activities	-7189	611	-4518	-15782	5634	5883	12829	-4576	3642	3250	10807
Cash Flow from Financing Activities	-5684	-16914	-9586	-10891	-26827	-27825	-39045	-32023	-32797	-47224	-47793
Net Cash Inflow / Outflow	68	17	3882	-3541	394	2056	387	-2777	6972	-6945	2156
Closing Cash & Cash Equivalent	438	430	4383	790	1278	3327	3852	1112	8197	1462	3644

TCS Ratios

#	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Earnings Per Share (Rs)	47.09	49.16	58.57	60.03	66.08	80.17	88.69	83.68	104.34	106.85	120.33
CEPS(Rs)	49.92	52.72	62.27	64.03	70.39	84.75	95.9	91.93	113.96	117.61	131.07
DPS(Rs)	32	79	43.5	47	50	30	73	38	43	115	73
Book NAV/Share(Rs)	112.45	115.94	164.87	196.66	198.65	209.71	195.96	199.67	209.27	203.28	198.29
Core EBITDA Margin(%)	33.29	28.56	31.51	29.22	28.56	28.39	28.45	29.65	28.84	26.7	27.6
EBIT Margin(%)	36.44	33.47	34.18	32.45	32.83	33.19	32.55	30.48	31.31	27.52	28.8
Pre Tax Margin(%)	36.4	33.36	34.17	32.44	32.8	33.05	31.98	30.08	31.01	27.15	28.47
PAT Margin (%)	28.57	26.17	26.87	25.52	25.93	24.41	25.33	22.77	23.82	20.54	21.53
Cash Profit Margin (%)	30.24	28.06	28.57	27.22	27.62	25.8	27.39	25.02	26.01	22.61	23.45
ROA(%)	36.94	32.07	33.47	29.12	28.79	32.43	33.23	29.63	33.99	33.16	36.92
ROE(%)	48.29	43.05	41.81	33.21	32.92	38.91	43.73	42.02	50.76	51.8	59.6
ROCE(%)	61.29	54.82	52.97	42.11	41.55	52.83	56.18	56.24	66.74	69.39	79.73
Receivable days	86.36	90.71	87.67	83.63	84.2	77.98	85.95	85.96	75.94	75.64	80.14
Inventory Days	0.04	0.05	0.05	0.06	0.09	0.05	0.02	0.02	0.03	0.04	0.05
Payable days	0	0	0	0	0	0	0	0	0	0	0
PER(x)	22.6	25.91	21.48	20.25	21.56	24.95	20.55	37.98	35.83	30	32.27
Price/Book(x)	9.46	10.98	7.63	6.18	7.17	9.54	9.3	15.91	17.87	15.77	19.59
Dividend Yield(%)	1.5	3.1	1.73	1.93	1.75	1.5	4	1.2	1.15	3.59	1.88
EV/Net Sales(x)	6.25	6.56	5.72	5.16	5.56	6.02	5.17	8.62	8.45	6.14	6.91
EV/Core EBITDA(x)	16.41	18.93	15.94	15.09	16.1	17.4	14.94	25.65	25.21	20.75	22.17
Net Sales Growth(%)	33.55	13.77	16.7	7.95	5.03	26.52	6.61	3.55	17.93	18.72	6.31
EBIT Growth(%)	49.79	4.5	19.17	2.49	6.25	27.89	4.55	-3.03	21.16	4.33	11.24
PAT Growth(%)	44.49	4.23	19.83	2.5	6.71	19.11	10.63	-6.92	23.34	2.41	11.39
EPS Growth(%)	44.37	4.4	19.14	2.5	10.07	21.34	10.63	-5.66	24.69	2.41	12.62
Debt/Equity(x)	0	0.01	0	0	0	0	0	0	0	0	0
Current Ratio(x)	2.84	2.46	4.72	6.4	4.85	4.18	3.3	2.92	2.49	2.36	2.2
Quick Ratio(x)	2.84	2.45	4.72	6.39	4.85	4.18	3.3	2.92	2.48	2.36	2.2
Interest Cover(x)	1006.74	309.53	2257.85	1880.13	1065.37	240.44	57.52	77.17	103.31	75.37	86.59
Total Debt/Mcap(x)	0	0	0	0	0	0	0	0	0	0	0

TCS Shareholding Pattern

#	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Promoter	72.3	72.3	72.3	72.3	72.3	72.3	72.41	71.77	71.77	71.77
FII	13.5	13.05	12.94	12.72	12.46	12.47	12.47	12.7	12.36	12.66
DII	8.4	8.58	9.31	9.63	9.86	10.06	10.09	10.67	11.06	10.91
Public	5.8	6.07	5.45	5.35	5.38	5.17	5.03	4.87	4.82	4.67
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Promoter	264.54	264.54	264.54	264.54	264.54	264.54	262	259.66	259.66	259.66
FII	49.39	47.76	47.36	46.53	45.59	45.63	45.12	45.95	44.71	45.79
DII	30.75	31.41	34.07	35.25	36.08	36.82	36.5	38.59	40	39.47
Public	21.23	22.19	19.94	19.59	19.7	18.92	18.2	17.61	17.45	16.89
Others	0	0	0	0	0	0	0	0	0	0
Total	365.91	365.91	365.91	365.91	365.91	365.91	361.81	361.81	361.81	361.81

Pros

Company has a good return on equity (ROE) track record: 3 Years ROE 54%
Company is almost debt free.

Cons

Stock is trading at 18.1 times its book value.
The company has delivered a poor profit growth of 7% over past five years.

* 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.