Tata Consultancy Services Ltd

Tata Consultancy Services its provides consulting-led integrated portfolio of information technology (IT) and IT-enabled services delivered through a network of delivery centers around the globe.

Pros:
Company has reduced debt.
Company is virtually debt free.
Company has a good return on equity (ROE) track record: 3 Years ROE 34.85%
Company has been maintaining a healthy dividend payout of 38.13%
Cons:
Stock is trading at 8.99 times its book value

Peer Comparison Sector: IT - Software // Industry: Computers - Software - Large

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019
23,184 23,406 23,476 24,032 24,278 25,570 29,368 30,792 30,964 32,046 32,657 32,387
16,436 16,691 17,190 17,119 17,161 18,081 20,980 21,810 22,412 23,004 22,996 23,393
Operating Profit 6,748 6,715 6,286 6,913 7,117 7,489 8,388 8,982 8,552 9,042 9,661 8,994
OPM % 29% 29% 27% 29% 29% 29% 29% 29% 28% 28% 30% 28%
Other Income 1,360 1,054 2,414 807 1,043 1,539 2,381 1,725 1,873 1,648 2,205 2,638
Interest 3 4 21 4 2 3 12 130 8 20 233 99
Depreciation 394 399 396 412 419 420 415 424 430 447 636 664
Profit before tax 7,711 7,366 8,283 7,304 7,739 8,605 10,342 10,153 9,987 10,223 10,997 10,869
Tax % 21% 21% 19% 21% 22% 21% 31% 25% 25% 23% 21% 21%
Net Profit 6,084 5,833 6,670 5,746 6,069 6,756 7,136 7,620 7,486 7,823 8,714 8,636
EPS in Rs 15.44 14.80 17.06 15.01 15.85 17.65 18.64 19.92 19.95 20.85 23.22 23.02
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
18,290 22,404 23,044 29,275 38,104 48,426 64,673 73,578 85,864 92,693 97,356 123,170 128,054
13,514 17,129 16,373 20,512 26,719 34,120 43,139 52,550 58,810 65,604 69,551 88,206 91,805
Operating Profit 4,776 5,275 6,672 8,764 11,386 14,306 21,534 21,028 27,054 27,089 27,805 34,964 36,249
OPM % 26% 24% 29% 30% 30% 30% 33% 29% 32% 29% 29% 28% 28%
Other Income 690 290 178 495 2,685 2,230 3,115 4,995 3,757 4,568 5,803 7,627 8,364
Interest 3 7 10 20 16 31 23 80 13 16 30 170 360
Depreciation 459 417 469 538 688 803 1,081 1,394 1,459 1,575 1,647 1,716 2,177
Profit before tax 5,004 5,140 6,370 8,700 13,366 15,703 23,544 24,550 29,339 30,066 31,931 40,705 42,076
Tax % 10% 9% 12% 13% 18% 19% 22% 22% 21% 21% 21% 26%
Net Profit 4,509 4,696 5,619 7,570 10,976 12,786 18,475 19,257 23,075 23,653 25,241 30,065 32,659
EPS in Rs 10.92 11.38 12.63 18.16 25.95 30.80 45.08 42.54 54.80 55.51 66.08 80.17 87.04
Dividend Payout % 30% 29% 70% 36% 45% 34% 34% 80% 37% 39% 38% 37%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:18.58%
5 Years:13.75%
3 Years:12.78%
TTM:16.40%
Compounded Profit Growth
10 Years:20.50%
5 Years:10.34%
3 Years:9.71%
TTM:18.41%
Stock Price CAGR
10 Years:20.59%
5 Years:11.17%
3 Years:19.77%
1 Year:7.53%
Return on Equity
10 Years:39.22%
5 Years:36.86%
3 Years:34.85%
Last Year:38.77%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Sep 2019
198 198 296 296 296 296 196 196 197 197 191 375 375
Reserves 10,807 13,248 14,821 19,284 24,561 32,267 43,856 45,221 64,816 77,825 75,675 78,523 85,496
Borrowings 18 41 36 41 104 172 115 273 178 250 225 39 0
3,801 5,046 7,379 6,522 9,398 10,200 13,437 17,376 12,262 11,839 14,965 20,563 25,814
Total Liabilities 14,724 18,433 22,432 26,043 34,259 42,834 57,604 63,065 77,453 90,111 91,056 99,500 111,685
1,941 2,669 2,761 3,422 4,064 5,104 5,929 7,996 9,080 9,231 9,440 9,661 14,224
CWIP 890 685 941 1,073 1,400 1,764 3,048 2,707 1,640 1,477 1,238 834 888
Investments 4,509 5,936 7,893 5,795 5,688 6,324 5,832 3,399 24,159 42,930 37,259 30,470 31,437
7,384 9,143 10,837 15,752 23,107 29,642 42,795 48,963 42,574 36,473 43,119 58,535 65,136
Total Assets 14,724 18,433 22,432 26,043 34,259 42,834 57,604 63,065 77,453 90,111 91,056 99,500 111,685

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
3,800 4,932 6,279 5,720 3,206 9,157 12,942 16,320 17,986 23,132 21,587 23,998
-2,405 -3,185 -4,557 -830 433 -3,496 -7,143 586 -4,478 -15,834 5,728 5,876
-1,426 -1,604 -1,970 -4,606 -3,897 -5,656 -5,684 -16,914 -9,586 -10,891 -26,827 -27,825
Net Cash Flow -31 142 -247 284 -258 5 115 -9 3,922 -3,593 488 2,049

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 52% 42% 44% 50% 60% 54% 61% 53% 52% 42% 41% 53%
Debtor Days 75 61 53 60 87 84 82 85 81 65 71 71
Inventory Turnover 1,250.59 1,312.48 1,942.22 4,819.00 8,013.51 9,241.63 8,675.11 7,037.60 8,047.24 6,179.53 4,232.87 7,038.29