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Technology Services

Tata Consultancy Services Ltd.

Company Background

Tata Consultancy Services is a leader in India's information technology services sector and has the highest market capitalization among the country's listed companies. The key unit of the Tata group, one of India's three iconic business groups, has 300,000 employees and serves clients in more than 40 countries. It generates over 90% of its consolidated revenue abroad. Tata Sons, the Tata group holding company, is the consultancy's largest shareholder, with a stake exceeding 70%.


Tata Consultancy Services is also something of a cash cow -- one whose earnings are poured into the group's coffers. It first began tasting success before the turn of the century, back when India was transforming itself into an IT services powerhouse. In the late 1990s, computer users -- companies, governments and individuals alike -- began worrying about something that became known as the Y2K problem. It was thought that when the calendar turned over to 2000, Windows computers would default to 1900 and financial calculations would go haywire. Indian IT and outsourcing companies began receiving floods of orders from foreign companies at this time.


Tata Consultancy Services has seen more than an eightfold increase in consolidated revenues since 2004, when the company went public. It has recently shifted its focus to upgrading its main services, such as developing specialized software for clients and taking on business process outsourcing work. It is also strengthening its development systems for a new generation of information technologies, including cloud services as well as social media and big data analysis.

Business Summary

Tata Consultancy Services Ltd. is an information technology services, consulting, and business solutions organization. The firm offers a consulting-led, cognitive powered, portfolio of business, technology, and engineering services and solutions. It operates through the following segments: Banking, Financial Services, and Insurance; Manufacturing; Retail and Consumer Business; Communication; Media and Technology; and Others, such as energy, resources and utilities, life sciences and healthcare, s-governance, and products. The company was founded in April 1968 and is headquartered in Mumbai, India.

Financial Highlights

Mar 2023 INRUSD
Gross Profit910,330M11,327.29M
Operating income542,370M6,748.74M
Income before tax569,070M7,080.97M
Net income421,470M5,244.37M
Diluted EPS115.191.43
Dividends Per Share----
Total Assets1,436.51B17,479.51M
Total liabilities524,450M6,381.52M
Total equity904,240M11,002.82M
Operating cash flow442,790M5,509.66M
Currency in INRCurrency in USD

Historical Data

 Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Revenue 1,464.63B 1,569.49B 1,641.77B 1,917.54B 2,254.58B
Gross Profit 525,610M 526,260M 536,220M 610,240M 910,330M
Operating income 376,700M 385,800M 424,810M 484,530M 542,370M
Income before tax 415,630M 422,480M 437,600M 516,870M 569,070M
Net income 314,720M 323,400M 324,300M 383,270M 421,470M
EBITDA 397,260M 421,090M 465,460M 530,570M 592,590M
Diluted EPS 83.04 86.18 86.70 103.61 115.19
Dividends Per Share 30 33 38 43 --
Total Assets 1,149.43B 1,208.99B 1,307.59B 1,415.14B 1,436.51B
Total liabilities 250,440M 361,500M 436,510M 516,680M 524,450M
Total equity 894,460M 841,260M 864,330M 891,390M 904,240M
Operating cash flow 310,440M 351,820M 409,060M 419,550M 442,790M
 Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Revenue 20,940.42M 22,134.80M 22,115.84M 25,735.46M 28,053.87M
Gross Profit 7,514.86M 7,421.93M 7,223.27M 8,190.08M 11,327.29M
Operating income 5,385.83M 5,441.00M 5,722.50M 6,502.91M 6,748.74M
Income before tax 5,942.43M 5,958.31M 5,894.79M 6,936.95M 7,080.97M
Net income 4,499.68M 4,560.96M 4,368.55M 5,143.89M 5,244.37M
EBITDA 5,679.79M 5,938.70M 6,270.08M 7,120.82M 7,373.63M
Diluted EPS 1.18 1.21 1.16 1.39 1.43
Dividends Per Share 0.42 0.46 0.51 0.57 --
Total Assets 16,592.27M 15,981.09M 17,884.32M 18,675.55M 17,479.51M
Total liabilities 3,615.15M 4,778.50M 5,970.28M 6,818.60M 6,381.52M
Total equity 12,911.72M 11,120.23M 11,821.71M 11,763.64M 11,002.82M
Operating cash flow 4,438.49M 4,961.78M 5,510.33M 5,630.81M 5,509.66M

Valuation Measures

Mar 2023
Operating margin24.05%
Profit margin18.69%

Key executives

  • CEO, MD & Non-Independent Executive Director: Rajesh Gopinathan
  • COO & Non-Independent Executive Director: N. Ganapathy Subramaniam
  • Chief Financial Officer: Samir Seksaria
  • Chief Technology Officer: K. Ananth Krishnan
  • Secretary & Compliance Officer: Pradeep Manohar Gaitonde


  • Tata Sons Pvt Ltd. (72.2%)
  • Life Insurance Corporation of India (Investment Portfolio) (4.4%)
  • SBI Funds Management Pvt Ltd. (0.9%)
  • Invesco Advisers, Inc. (0.8%)
  • The Vanguard Group, Inc. (0.8%)
  • BlackRock Fund Advisors (0.6%)
  • Axis Asset Management Co. Ltd. (0.5%)
  • UTI Asset Management Co. Ltd. (Investment Management) (0.3%)
  • First Sentier Investors (Australia) IM Ltd. (0.3%)
  • Norges Bank Investment Management (0.2%)

Contact Details

  • Website:
  • Address: Nirmal Building, Nariman Point, Mumbai, 400021, India
  • Phone: +91.22.67789595

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Last Updated on 31 May, 2023

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