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 33.13%
Company has been maintaining a healthy dividend payout of 35.98%
Cons:
Stock is trading at 8.71 times its book value

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

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Quarterly Results Consolidated Figures in Rs. Crores / View Standalone

Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
29,284 29,735 29,642 29,584 30,541 30,904 32,075 34,261 36,854 37,338 38,010 38,172
21,171 21,506 21,510 22,171 22,377 22,617 23,423 25,190 26,576 27,255 27,936 28,135
Operating Profit 8,113 8,229 8,132 7,413 8,164 8,287 8,652 9,071 10,278 10,083 10,074 10,037
OPM % 28% 28% 27% 25% 27% 27% 27% 26% 28% 27% 26% 26%
Other Income 1,057 1,192 997 959 819 870 994 1,225 730 1,163 1,193 1,675
Interest 5 7 8 27 7 6 12 17 137 16 28 257
Depreciation 496 496 505 499 504 506 505 493 507 519 537 817
Profit before tax 8,669 8,918 8,616 7,846 8,472 8,645 9,129 9,786 10,364 10,711 10,702 10,638
Tax % 24% 24% 23% 24% 24% 24% 24% 25% 24% 24% 24% 23%
Net Profit 6,603 6,778 6,608 5,945 6,446 6,531 6,904 7,340 7,901 8,105 8,126 8,131
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

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

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
22,620 27,813 30,029 37,325 48,894 62,989 81,809 94,648 108,646 117,966 123,104 146,463 150,374
16,910 21,424 21,334 26,146 34,459 44,950 56,657 70,167 77,969 85,655 90,588 106,957 109,902
Operating Profit 5,710 6,388 8,695 11,178 14,435 18,040 25,153 24,482 30,677 32,311 32,516 39,506 40,472
OPM % 25% 23% 29% 30% 30% 29% 31% 26% 28% 27% 26% 27% 27%
Other Income 730 354 272 604 428 1,178 1,637 3,720 3,084 4,221 3,642 4,311 4,761
Interest 30 29 16 26 22 48 39 104 33 32 52 198 438
Depreciation 564 564 661 735 918 1,080 1,349 1,799 1,888 1,987 2,014 2,056 2,380
Profit before tax 5,846 6,150 8,290 11,021 13,923 18,090 25,402 26,298 31,840 34,513 34,092 41,563 42,415
Tax % 13% 14% 14% 17% 24% 22% 24% 24% 24% 24% 24% 24%
Net Profit 5,026 5,256 7,001 9,068 10,413 13,917 19,164 19,852 24,270 26,289 25,826 31,472 32,263
EPS in Rs 12.24 12.81 16.15 21.96 24.48 33.65 46.82 43.95 57.83 62.20 67.61 83.93
Dividend Payout % 27% 26% 56% 30% 47% 31% 33% 78% 35% 35% 37% 36%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:18.07%
5 Years:12.35%
3 Years:10.47%
TTM:17.68%
Compounded Profit Growth
10 Years:19.68%
5 Years:10.55%
3 Years:9.52%
TTM:18.52%
Return on Equity
10 Years:36.71%
5 Years:34.92%
3 Years:33.13%
Last Year:35.98%

Balance Sheet Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
198 198 296 296 296 296 196 196 197 197 191 375
Reserves 12,102 15,502 18,171 24,209 29,284 38,350 48,999 50,439 70,875 86,017 84,937 89,071
Borrowings 455 564 103 75 127 232 297 358 245 289 247 62
4,928 6,473 8,924 8,201 11,725 13,390 17,646 22,668 17,814 17,056 20,922 25,596
Total Liabilities 17,583 22,637 27,394 32,681 41,330 52,168 67,138 73,661 89,131 103,559 106,297 115,104
3,935 6,746 6,738 7,479 8,662 9,828 9,544 11,638 11,774 11,701 11,973 12,290
CWIP 907 705 1,017 1,194 1,446 1,895 3,168 2,766 1,670 1,541 1,278 963
Investments 2,606 1,614 3,682 1,763 1,350 1,897 3,434 1,662 22,822 41,980 36,008 29,330
10,135 13,572 15,957 22,245 29,872 38,547 50,991 57,595 52,865 48,337 57,038 72,521
Total Assets 17,583 22,637 27,394 32,681 41,330 52,168 67,138 73,661 89,131 103,559 106,297 115,104

Cash Flows Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
3,881 5,498 7,359 6,614 7,127 11,615 14,751 19,369 19,109 25,223 25,067 28,593
-2,363 -3,435 -5,413 -1,431 -2,727 -6,038 -9,452 -1,807 -5,010 -16,895 3,104 1,645
-1,442 -1,672 -2,381 -4,659 -3,955 -5,729 -5,673 -17,168 -9,666 -11,026 -26,885 -27,897
Net Cash Flow 76 392 -435 524 445 -152 -374 394 4,433 -2,698 1,286 2,341

Ratios Consolidated Figures in Rs. Crores / View Standalone

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 % 53% 42% 47% 51% 51% 53% 57% 51% 51% 44% 39% 48%
Debtor Days 87 80 71 80 86 82 81 79 81 70 74 68
Inventory Turnover 538.37 703.86 1,104.21 1,838.19 2,409.16 3,236.87 4,499.96 6,051.69 6,775.55 6,376.54 5,238.47 8,136.83