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Tata Consultancy Services Ltd . Large Cap

BSE: 532540 | NSE: TCS
IT - Software
Live
20/04/2021 4:00:00 PM
3144.10 -19.00   (-0.60%)
BSE: price shown with 5 mins delayed.
Prev. Close 3163.10
Open Price 3215.00
Volume Traded 108317.00

Fundamentals

Mar'12 Mar'13 Mar'14 Mar'15 Mar'16 Mar'17 Mar'18 Mar'19 Mar'20 Mar'21
Ajusted EPS(Rs.) 49.53 68.1 94.49 88.96 116 124.73 135.5 84.17 86.53
Net Sales (Rs. Cr.) 48893.83 62989.48 81809.36 94648.41 108646 117966 123104 146463 156949
Adjusted Net Profit 10500.77 14044.18 19194.47 19507.42 23978.83 26347.9 25711.05 31499.49 32402.1
Book Value/ Share(Rs.) 150.62 196.94 251.16 258.51 360.77 434.9 446.14 238.01 222.21
Cash Flow 444.90 -152.13 -373.50 394.03 4433.00 -2698.00 1286.00 2341.00 1422.00
Debt to Cash Flow from Operations 0.02 0.02 0.02 0.02 0.01 0.01 0.01 0.00 0.21
RONW 38.26 40.58 43.65 40.19 39.99 33.63 30.29 36.18 37.60
ROCE % 49.68 50.99 55.92 51.40 51.14 43.27 39.18 46.83 47.23
Net Operating Profit Margin % 30.35 30.43 32.70 29.68 31.04 30.94 29.33 29.78 29.17
Net Profit Margin % 21.52 22.35 23.63 21.19 22.40 22.34 21.02 21.55 20.67
Debt / Equity 0.00 0.01 0.01 0.01 0.00 0.00 0.00 0.00 0.04
Dividend Yield % 2.14 1.40 1.50 3.10 1.73 1.68 0.69 1.75 2.23
Mar'12 Mar'13 Mar'14 Mar'15 Mar'16 Mar'17 Mar'18 Mar'19 Mar'20 Mar'21
Ajusted EPS(Rs.) 51.89 61.59 90.15 85.08 109.59 120.07 132.15 80.17 88.69 83.68
Net Sales (Rs. Cr.) 38104.23 48426.14 64672.93 73578.06 85864 92693 97356 123170 131306 135963
Adjusted Net Profit 10965.95 12769.76 18342.77 18662.65 22718.10 23648.35 25067.43 30000.33 33210.64 31854.02
Book Value/ Share(Rs.) 126.49 165.86 224.9 231.87 329.74 393.32 397.3 209.71 195.96 199.67
Cash Flow -258.21 4.88 114.52 -8.59 3922.00 -3593.00 488.00 2049.00 525.00 -2740.00
Debt to Cash Flow from Operations 0.03 0.02 0.01 0.02 0.01 0.01 0.01 0.00 0.20 0.15
RONW 0.00 44.63 48.22 43.05 41.81 33.21 32.92 38.91 43.73 42.02
ROCE % 59.29 53.73 60.13 53.73 52.25 41.71 41.19 52.14 53.51 52.03
Net Operating Profit Margin % 36.88 34.08 38.07 35.26 35.87 34.14 34.49 34.44 34.04 32.33
Net Profit Margin % 28.80 26.40 28.57 26.17 26.87 25.52 25.93 24.41 25.33 22.77
Debt / Equity 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.03 0.07
Dividend Yield % 2.14 1.40 1.50 3.10 1.73 1.68 1.26 1.75 2.28 1.20

Year on Year Growth Rate (%)

Ajusted EPS Sales Adjusted Net Profit

Latest Financials

Standalone Consolidated
TTM EPS (Rs) 86.11 90.06
TTM Sales (Rs. Cr.) 135963 164177
BVPS (Rs.) 199.72 231.42
Reserves (Rs. Cr.) 73508 85235
P/BV 15.74 13.59
PE 36.73 35.12214
From the Market
52 Week High / Low (Rs) 3358.8/1720.35
All Time High / Low (Rs) 2012/104.5
Volume Traded 108317
Market Cap (Rs. Cr.) 1170046.94
Equity (Rs. Cr.) 369.9051373
Face Value (Rs) 1
Industry PE 0

Quarterly Results

Jun'2020 Sep'2020 Dec'2020 Mar'2021
Net Sales (Cr) 31624.00 33365.00 34957.00 36017.00
Adjusted EPS (Rs) 16.26 22.26 24.65 22.09
Net Profit Margin % 19.28 25.02 26.44 22.69
Jun'2020 Sep'2020 Dec'2020 Mar'2021
Net Sales (Cr) 38322.00 40135.00 42015.00 43705.00
Adjusted EPS (Rs) 18.69 22.26 23.20 24.66
Net Profit Margin % 18.29 20.80 20.71 21.16

Quarterly Growth Rate (%)

Ajusted EPS Sales Net Profit Margin

Peers Data

Name Current Price(Rs) Market Cap. (Rs. cr.) Net Profit(Rs. cr.) Sales Growth(%)
California Software Company Ltd 8.75 12.95 0 23.73
Mindtree Ltd 2043.5 34498.08 0 2.62
Wipro Ltd 469.95 258971.61 0 -0.18
Infosys Ltd 1350.7 580574.85 0 8.68
Tata Consultancy Services Ltd 3144.1 1170046.94 30960 3.55

Technical

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News

2021/04/20 12:36

TCS ADD Safety wins award for 'Best Technical Implementation for AI'

Tata Consultancy Services announced that TCS ADD Safety, part of the TCS ADD platform that digitally transforms the entire clinical R&D value chain, has won the award for 'Best Technical Implementation for AI' at the 5th Global Annual Achievement Awards for Artificial Intelligence.

TCS ADD Safety received the award for re-imagining pharmacovigilance by applying machine vision, artificial intelligence, smart analytics and IoT to automate the intake, processing and analysis of safety cases. Powered by TCS Decision Fabric�, TCS' proprietary AI engine, the platform significantly reduces the time taken to process safety cases and increases throughput with consistently high levels of accuracy.

Some of the world's leading life sciences companies which have implemented TCS ADD Safety have realized up to 40% reduction in case processing efforts, improved data quality and oversight, and meaningful insights and predictive models.

Part of TCS ADD platform, TCS ADD Safety is an Artificial Intelligence driven solution that integrates data from different sources, and enables automated intake, processing, analysis, and reporting of high safety case volume with quality and consistency. With its unique decision traceability and learning management capabilities to map new ontologies, it leverages natural language processing and artificial intelligence while maintaining regulatory compliance requirements.

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2021/04/15 11:45

TCS positioned as a Leader in Managed Workplace Services, North America By Gartner

Tata Consultancy Services has been positioned as a Leader in the Gartner Magic Quadrant for Managed Workplace Services, North America, for the fifth year in a row.

The report evaluates 20 vendors to enable sourcing, procurement and vendor management leaders to select the best provider for managed workplace services. MWS is centered on delivering a digital workplace experience to end users so that organizations can leverage their digital dexterity in the development of new digital business services.

TCS offers a comprehensive portfolio of consulting-led services across the workplace services value chain and leverages Secure Borderless Workspaces� (SBWS�), its transformative operating model to enable touchless, intelligent, agile, and digital operations that deliver superior business outcomes.

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2021/04/13 10:15

Board of Tata Consultancy Services recommends final dividend Of Rs 15 per share

Tata Consultancy Services announced that the Board of Directors of the Company at its meeting held on 12 April 2021, inter alia, have recommended the final dividend of Rs 15 per equity Share (i.e. 1500%) , subject to the approval of the shareholders.

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2021/04/07 14:52

TCS positioned as Leader for Managed Workplace Services, Europe By Gartner

Tata Consultancy Services has been named a Leader in the Gartner Magic Quadrant for Managed Workplace Services, Europe, for the second consecutive year.

TCS offers a comprehensive portfolio of consulting-led services across the workplace services value chain and leverages Secure Borderless Workspaces� (SBWS�), its transformative operating model to enable touchless, intelligent, agile, and digital operations that deliver superior business outcomes.

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2021/04/05 17:59

TCS Optunique? and TCS Optumera? win 2021 AI Excellence Awards

Tata Consultancy Services has won two awards at the 2021 Artificial Intelligence Excellence Awards. TCS Optunique�, its AI-powered enterprise personalization solution, was named the Best Theory of Mind Machine Learning Product while TCS Optumera�, its AI-powered retail optimization suite was declared the Best Self Aware Strategic Planning Product

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2021/04/01 10:45

Tata Consultancy Services to conduct board meeting On 12 April 2021

Tata Consultancy Services will hold a meeting of the Board of Directors of the Company on 12 April 2021..

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2021/03/31 18:47

TCS financial results to be declared on 12 April

The Board of Tata Consultancy Services will approve financial results for year ending 31 March 2021 on 12 April 2021.

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2021/03/30 15:13

TCS unveils new brand vision 'Building on Belief'

Tata Consultancy Services unveiled a new brand statement, 'Building on Belief', to articulate its mission and relationship with customers as it embarks on its next decade of transformation-led growth.

The new brand vision encapsulates the active and collaborative role that TCS plays in partnering with customers over the long term, leveraging its contextual knowledge, investments in research and innovation, and technology expertise to help them grow, and achieve their purpose-led transformation goals. It also reflects TCS' own belief that it, along with its customers, can harness collective knowledge to innovate in ways that result in better futures for individuals, communities and the planet.

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2021/03/30 18:23

TCS renews strategic partnership with Nationwide Building Society, UK

Tata Consultancy Services announced that it has renewed its strategic partnership and services footprint with Nationwide Building Society, the world's largest building society and one of the largest savings and mortgage providers in the UK, to help strengthen the latter's enterprise agility and operational resilience.

Over the past 10 years, TCS has been collaborating with Nationwide in the transformation of its core technology stack to help drive faster innovation, newer services, and superior experiences for its members. Through the continued partnership, Nationwide will be able to more fully leverage TCS' complete range of services to transform its strategic applications and IT infrastructure. Additionally, TCS will support the Building Society's move to new Agile ways of working, with DevSecOps at its heart, as it embraces newer technologies.

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2021/03/26 13:40

TCS ranks #1 in customer satisfaction in the Nordics In a survey conducted by Whitelane Research

Tata Consultancy Services has been ranked Number One in customer satisfaction in the Nordics in an independent survey of CxOs of top IT spending organizations by Whitelane Research, for the 12th consecutive year. Among the individual country rankings, TCS was placed at Number One in Sweden, Norway and Finland and at second place in Denmark

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2021/03/25 12:31

TCS deployes TCS BaNCS for Societe Generale Securities Services

Tata Consultancy Services announced that Societe Generale Securities Services (SGSS), a recognized global custodian, has successfully deployed TCS BaNCS as its nextgeneration, multi-entity asset servicing platform in Germany, UK, France, Ireland and Luxembourg.

SGSS was looking for a platform that met its strategic objectives of providing standardized corporate actions processing and cash management services, and consistent customer experiences across their multiple locations in Europe. It selected the Corporate Actions and Account Management components of TCS BaNCS to build an integrated, innovative platform to deliver real-time customer experience across the custody lifecycle.

The new platform is one of Europe's first real-time and true multi-entity, unified platforms for corporate actions and securities-based cash operations. It has enabled a hub and spoke model, where the core processing is carried out in a highly automated fashion in the central hub, while the spokes are client facing and local. TCS BaNCS for Corporate Actions offers SGSS the ability to handle processing across custody and investment banking on the same platform and enhances cash payment services via exhaustive real-time position keeping and liquidity management. This further improves the quality of its customer experience.

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2021/03/24 12:04

TCS launches Connected Consumer Home solution based on RDK To allow media and communication service provides to offer connected consumer experiences

Tata Consultancy Services has launched the TCS Connected Consumer Home solution based on RDK, to enable media and communication service providers (CSPs) to offer intuitive and exciting connected consumer experiences.

TCS Connected Consumer Home is a scalable, intelligent, and secure solution that simplifies customization,enables comprehensive device management, enhances the service provider's control over software roadmaps, and helps build a rich and consistent customer experience across apps, devices and channels. Itprovides non-invasive device telemetry-enabled data analytics to generate insights for improving services,and introducing new features based on user behavior data within the connected home ecosystem, across next-gen video, OTT, internet gateway and IoT connected devices.

Further, the company recently launched the TCS EngineeringtheFuture-Media Lab to build and showcase world class solutions on the RDK platform. The lab is an advanced product research and design facility that helps customers innovate, rapidly prototype and create ready to deploy solutions.

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2021/03/23 12:36

Skanska selects TCS for its cloud transformation and process automation

Tata Consultancy Services has been selected by Skanska, one of the world's leading project development and construction groups, as a strategic partner to help achieve its ambition of becoming the most digitally advanced company in the construction industry.

As a part of this multi-year partnership, TCS will leverage its Machine First� Delivery Model (MFDM�) framework to streamline Skanska's journey to the cloud and help it transition to a more proactive IT model with automated processes, such as a chatbot for support services. TCS will also be responsible for the application management of the company's Oracle Cloud applications across finance, projects, procurement, supply chain, human capital management and analytics planning functions. By moving IT operations to the cloud and driving automation, Skanska's IT employees will be freed up from routine support activities and can focus on more sophisticated, value-adding tasks.

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2020/04/20 17:34

TCS to provide global IT infrastructure transformation for Amway

Tata Consultancy Services and Amway, a global leader in direct selling, have entered into a strategic partnership to transform the latter's global technology operations.

Amway was looking to transform its IT infrastructure and operations and its global service desk in order to improve agility, accelerate speed to market, and enhance customer experience. TCS will leverage its Business 4.0� framework to deliver a new operating model by consolidating and standardizing IT operations, implementing TCS' Machine First� Delivery Model (MFDM�), powered by ignio�, its cognitive automation software, continuing Amway's journey from a reactive to a proactive and predictive model.

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About Company

Tata Consultancy Services Ltd is a leading global IT services, consulting and business solutions organization offering transformational as well as outsourcing services to global enterprises. We have a global presence, deep domain expertise in multiple industry verticals and a rich portfolio of services - consisting of consulting and service integration, digital transformation services, and cognitive business operations - targeting every C-suite stakeholder. The Company uses all these, and its industry leading suite of products and platforms to deliver high quality, high impact solutions leveraging the latest technologies to customers across the world. TCS's geographic footprint consists of North America, Latin America, the United Kingdom, Continental Europe, Asia-Pacific, India and Middle-East & Africa.The company is a part of Tata Group, one of India's most respected business conglomerates and most respected brands. The company headquartered in Mumbai. TCS have been operating through 285 offices in 46 countries as well as 147 delivery centers in 21 countries. The company shares are listed on the National Stock Exchange and Bombay Stock Exchange of India.Tata Consultancy Services Ltd was incorporated in the year 1968. Tata Sons Ltd established the company as division to service their electronic data processing (EDP) requirements and provide management consulting services. In the year 1971, they started their first international assignment. The company pioneered the global delivery model for IT services with their first offshore client in 1974.In the year 1981, the company set up India's first IT R&D division, the Tata Research Design and Development Centre at Pune. In the year 1985, they set up their first client-dedicated offshore development center for Compaq (then Tandem). In the year 1989, they delivered an electronic depository and trading system called SECOM for SIS SegaInterSettle, Switzerland.In the year 1997, the company opened their new corporate training facility at Trivandrum. In the year 1998, they started virtualization of business. In the year 1999, they got SEI-CMM Level 5 certification for their Qwest, HP, SEEPZ & Sholinganallur centres. Also, in the year 2000, they got SEI-CMM Level 5 certification for their Calcutta, Bangalore, Lucknow, Hyderabad, GEDC, Ambattur and Ahmedabad centres. In the year 2001, the company completed the acquisition of public sector unit, CMC Ltd. In the year 2002, they expanded their geography into new growth markets like China/ Uruguay. In 2003, TCS became the first Indian software company to cross one billion dollars in revenue. The company saw outsourcing opportunity in E-Commerce and related solutions and set up its E-Business division with ten people. By 2004, E-Business was contributing half a billion USD to the company. During the year 2004-05, the company acquired WTI Advanced Technology Ltd and TCS Business Transformation Solutions Ltd (Previously, Phoenix Global Solutions (India) Ltd), subsequently these two companies became the subsidiaries of the company. TCS tapped the capital markets in July 2004 in the largest private sector initial public offering (IPO) in the Indian market, raising nearly $1.2 billion. In August 9, 2004, the company became a publicly listed company. During the year 2005-06, the company acquired three companies Comicrom S A, Chile, Financial Network Services (Holdings) Pty Ltd, Australia (FNS) and Swedish Indian IT Resources AB (SITAR). The company made strategic alliances with Diligenta Ltd for Life Insurance business. Also, they entered into a Joint Venture Agreement with the State Bank of India. The new company was formulated and named C-Edge Technologies Ltd (C-Edge) for providing advanced technology solutions and world-class domain consulting for the banking and financial services sector.During the year, the company ventured into a new area for an Indian IT Services Company. In April 2005, Tata Infotech Ltd with their three wholly owned subsidiaries, namely Airline Financial Support Services (India) Ltd, Aviation Software Development Consultancy India Ltd and TCS Business Transformation Solutions Ltd were amalgamated with the company.During the year 2006-07, the company in partnership with the Government of Madhya Pradesh formed a company, namely MP Online Ltd, for offering a wide range of computer enabled services in the State of Madhya Pradesh. The company through their wholly owned subsidiaries Tata Consultancy Services Asia Pacific Pte Ltd and Tata Consultancy Services Malaysia Sdn Bhd, subscribed to 100% share capital of PT Tata Consultancy Services, Indonesia, a company formed for providing consulting and IT related services in IndonesiaTata Consultancy Services Netherlands B V, a wholly owned subsidiary acquired 75% equity interest in Switzerland based TKS - Teknosoft S A, for a consideration of Rs 368.06 crore. TCS FNS Pty Ltd, another subsidiary acquired 100% equity interest in an Australian based company, TCS Management Pty Ltd, for a total consideration of Rs. 15.75 crore. Also, TCS FNS Pty Ltd subscribed to 100% share capital of Financial Network Services Beijing Co Ltd to provide consulting and IT related services in China. The company, through their wholly owned subsidiaries Tata Consultancy Services BPO Chile S A and TCS Inversiones Chile Limitada, subscribed to 100 % share capital Tata solution Center S A, to provide BPO services in Ecuador. During the year 2007-08, the company opened a centre in Cincinnati, USA, and a large centre in India at Hyderabad and laid the foundation for a large centre in Pune. They launched a major brand building initiative in order to articulate and propagate its new brand positioning. Also, they signed a new multi-year contract with Chrysler LLC for providing a comprehensive portfolio of IT services. TKS Services S.A., Quartz Software Technology S.A. and Tata Consultancy Services Financial Solutions Limited merged with Tata Consultancy Services Switzerland Limited with effect from April 1, 2007. In May 25, 2007, the company through their wholly owned subsidiary, Tata Consultancy Services Do Brasil Desenvolvimento De Servicos Ltda, acquired 100% equity interest in a Brazil based Company, GT Participacoes S.A. Also, Tata Consultancy Services Do Brazil Desenvolvimento De Servicos Ltda and GT Participacoes S.A. have merged with Tata Consultancy Services Do Brazil Ltda with effect from July 1, 2007. In June 21, 2007, the company subscribed to 100% share capital of Tata Consultancy Services Morocco SARL AU, a company formed for providing a range of computer enabled services in Morocco. In July 13, 2007, the company through their wholly owned subsidiary, Tata America International Corporation, acquired 100% voting power in TCS Financial Management LLC. In October 23, 2007, the company subscribed to 60% of the share capital of Tata Consultancy Services (Africa) (Pty) Limited, a Company formed for providing IT services and investing in companies in South Africa. In January 24, 2008, the company sold their shareholding interest in their associate Conscripti (Pty) Ltd, for Rs. 3.83 crore. In March 2008, the company opened their North America Delivery Center called TCS Seven Hills Park. During the year 2008-09, the company acquired Citigroup Inc.'s (Citi) 96.26% interest in TCS e-Serve Ltd (formerly known as Citigroup Global Services Limited), the India-based captive BPO, for a total consideration of USD 504.54 million. In addition, Citi signed an agreement with the company to provide process outsourcing services to Citi and their affiliates for an aggregate amount of USD 2.5 billion over a period of 9.5 years.During the year, the company through their subsidiary, Tata Consultancy Services Asia Pacific Pte Ltd, subscribed to 100% share capital of Tata Consultancy Services (Thailand) Ltd and Tata Consultancy Services (Philippines) Inc. In June 2008, the company got $11.5 million transformational deal to design, install and integrate a tax administration system for the Uganda Revenue Authority (URA). In July 29, 2008, the company won the highest incremental improvement award and moved to the Industry Leader position in the Tata Business Excellence Model ('TBEM') at the JRD QV Awards ceremony.In October 22, 2008, the Tata Infotech Deutschland GmbH has merged with Tata Consultancy Services Deutschland GmbH. The merged entity is a wholly owned subsidiary of the company. In December 11, 2008, the company subscribed to 50% share capital of National Power Exchange Ltd, established to promote trading of electrical power in India.In June 5, 2009, the company, through their wholly owned subsidiary, Tata Consultancy Services Canada Inc, acquired 100% interest in ERI Holdings Corp. In January 1, 2010, the company, through their wholly owned subsidiary, TCS Iberoamerica S.A., subscribed to 100% interest of TCS Uruguay S.A. In January 1, 2010, they purchased 100% interest of MGDC S.C., Mexico, through their wholly owned subsidiaries, TCS Uruguay S.A. and TCS Argentina S.A. In June 2010, the company signed a multi-year outsourcing contract with Telenor Norway. In June 30, 2010, Syscrom S.A., Chile merged with Tata Consultancy Services BPO Chile SA, a wholly owned subsidiary of TCS Inversiones Chile Limitada. Also, Custodia De documentos Interes Limitada, Chile merged with Tata Consultancy Services BPO Chile SA, a wholly owned subsidiary of TCS Inversiones Chil Limitada. During the year 2010-11, the company set up five subsidiaries namely, MahaOnline Limited, Diligenta 2 Limited, MS CJV Investments Corporation, Retail FullServe Limited and CMC eBiz Inc. Also, Financial Network Services (H.K.) Limited was liquidated and de-registered during the year.The Company entered into an agreement with the Government of Maharashtra pursuant to which a new subsidiary company, MahaOnline Ltd (MahaOnline) was setup on July 28, 2010 with equity participation from TCS and Government of Maharashtra. MahaOnline provides online internet-based citizen services to the residents in Maharashtra. This citizen service portal is integrated with DigiGov, a state-of-the-art e-Governance solution developed by TCS.In August 31, 2010, Diligenta Limited, a majority owned subsidiary, acquired the entire share capital of Unisys Insurance Services Limited (UISL), which provides life and pensions services to its clients in the UK. On this acquisition UISL was renamed as Diligenta 2 Limited. In October 4, 2010, Tata America International Corporation - a wholly owned subsidiary, acquired 100% share capital of MS CJV Investments Corporation. Consequently, the group holding in Tata Consultancy Services (China) Co., Ltd. has increased from 65.94% to 74.63%.In October 8, 2010, the Company acquired 100% equity share capital of SUPERVALU Services India Pvt Ltd from SUPERVALU Inc., one of the largest grocery retailers in North America.In December 2010, the company launched their new business process outsourcing (BPO) center in the Philippines. The company won a contract for establishing and managing the State Data Centre for the state of Uttar Pradesh. In February 2011, they signed five year contract with du, the integrated telecom service provider in the United Arab Emirates. Also, they launched iON - a fully integrated information technology solution for Small and Medium Business (SMB). iON provides on-demand business solutions using scalable cloud computing technology. It has been developed to deliver IT in the third generation service model to SMBs. In August 2011, the company and the Singapore Management University (SMU) announced the establishment of the TCS-SMU iCity Lab to be located at SMU. The collaboration agreement signed states the two organizations are partnering to create a new research facility to develop industry standards and IT frameworks for the emerging intelligent city (iCity) model of urban development. In December 2011, Call Genie Inc. announced that it has entered into a five year reseller agreement with Tata Consultancy Services (TCS) the IT services, consulting and business solutions firm, whereby TCS will resell the full suite of Call Genie and UpSnap Mobile products worldwide.In February 2012, the company signed a multi-year, multi-million euro contract with Europcar. After a rigorous evaluation process, Europcar Information Services (EIS), the company's IT subsidiary, selected TCS to manage strategic IT Services development for its French operations. Also, the company and Mitsubishi Corporation announced a new joint venture, Nippon TCS Solution Center Ltd, for the Japanese market. Nippon TCS Solution Center will offer a full service suite of IT, BPO and Infrastructure services to Japanese corporations. TCS Japan will have 60% stake with Mitsubishi Corporation having a 40% stake. The joint venture will also establish a nearshore delivery center in Japan.In 2012, the company won various awards like SAP Award of excellence for best run value realization for Project Spectrum, innovation award in France. Achievers 50 Most Engaged Workplaces in US, Partner Impact Awards from SAP, 2011 Eaton Premier Supplier Award, 'People Choice' award from the US National Science Foundation etc. The company also signed deal with South Africa Nedgroup Insurance. During the year the company launched passport seva Kendra in Delhi and also launched new rapid implementation offering for Oracle Fusion HCM. The company signed agreement with Scandinavian Airlines for F&A platform and entered into agreement with UK-based hospitality business chain. The company bags prestigious contract from UK Home Office Department during the year under review.In 2013, the company was placed as a Leader in Oracle Application Management Services by Leading Research Firm. The company completed the acquisition of French IT Services firm ALTI. The company Launched Mobile Telematics Solution for Auto Insurers. During the year, the company was Designated a Leader and 2012 Star Performer in Capital Markets Application Outsourcing by Everest Group Research. The company was also selected by Nokia as a global IT Partner. The company expands UK operations in Liverpool. During the year the company was Placed as a Leader in Oracle Application Management Services by Gartner. The company also received Partner Excellence Award From Pegasystems, Inc. The company also won multiple Corporate Engagement Awards in Europe.On 9 April 2013, TCS signed definitive agreements for the acquisition of 100 percent equity shares in Alti SA, an IT services company in France, for a value of 75 million Euro in an all-cash transaction.In 2014, the company Launched New Digital Software & Solutions Group to Transform Digital Commerce and Customer Centricity.The company was selected by Diageo as a strategic partner during the year under review. The company introduced New Software Assurance Solution Co-Developed with Nissan during the year. During the year, the company was also Recognized as a Leader' in Retail Banking BPO by NelsonHall. The company received numerous awards during the year such as the companies TCS UK wins Gold Award for Innovation in Learning', op Workforce Award at the 2014 Diversity and Inclusion (DANDI) Awards Ceremony, Prestigious Association of Management Consulting Firms Award, wins Leading Vendor Award for Quality Assurance Services. During the year, the company was named Exclusive Certification Services Provider for CDMI Conformance Testing by SNIA. The company was also Positioned as a Leader in Capital Markets BPO by Everest Group.On 21 April 2014, TCS announced the merger of TCS Japan, IT Frontier Corporation (ITF), Mitsubishi Corporation's (MC) 100 percent IT subsidiary, and Nippon TCS Solution Center (NTSC) to create a strong IT services unit in Japan. On 16 October 2014, the Board of Directors of TCS and CMC approved merger of CMC with TCS. The swap ratio for the merger was fixed at 79 equity share of Re. 1 each of TCS for 100 equity shares of Rs. 10 each of CMC.In 2015, the company signed a multi-year partnership deal with UK-based leading airline, Virgin Atlantic Airways (VAA), as Virgin Atlantic Airways selects TCS to support Digital Transformation programme. The companies Research Scholarship Programme expands to reach 200 more Computer Science PhD's in India. During the year, the company consolidates its long term partnership with the City of Amsterdam. During the year the company has been recognised by Ovum as a leader in the Ovum Decision Matrix. The company was also recognized as a Leader and Star Performer in Capital Markets Application Outsourcing Services by Everest Group. Europe's largest ever survey of business leaders ranks TCS 1 on both performance and customer satisfaction. During the year, the company also has won three different awards at the Brandon Hall Group Awards. Singapore Airlines and the company Introduce Mobile Solution for Cabin Crew. During the year under review, the company was recognized as the industry's fastest growing brand over last five years. The company also enters into strategic partnership with iRise. The company Launches Business Process Innovation, Simulation & Visualization as a Service (VaaS). The company Expands operations by opening a new Banking and Financial Services(BFS) center in Singapore. The company Wins 2015 SAP Pinnacle Award - Euroclear Finland launches Infinity, powered by TCS BaNCS for Market Infrastructure. The company was ranked as the 57th leading brand in the US by Brand Finance. During the year, the company Announces Premier Partnership with Adobe for Digital Marketing Solutions and Services. The company also announces Global Strategic Partnership with FICO during the year under review.In 2017, TCS China was set up as a joint venture with the Chinese government and other partners.The company has 50 subsidiaries as on 31 March 2018 as against 58 subsidiaries as on 31 March 2017. There are no associate companies or joint venture companies.The company was ranked as the fastest growing IT Services brand by brand value, and as one of the Top 3 Global Brands in IT Services globally in 2018 by Brand Finance.On 31 October 2018, the company acquired 100% stake in W12 Studios Limited, an UK based company. W12 Studios brings with it an award-winning digital design studio based in London.Further, CMC eBiz, Inc., a subsidiary of CMC Americas, Inc., a US based subsidiary of the Company was voluntarily dissolved with effect from 19 June 2018. There were no employees or business operations in the dissolved subsidiary.The Company has 50 subsidiaries as on 31 March 2019. The company was voted the Overall Most Outstanding Company in India, in Asiamoney's 2018 Asia's Outstanding Companies poll.The company was named the Fastest Growing Brand of the Decade in IT Services globally by Brand Finance. TCS' brand value crossed USD 12.8 billion this year, up 447% over the decade.The company has won the Best Patents Portfolio Award (2013- 2018) in the Large (Engineering) Industries category at the CII Industrial Intellectual Property Awards 2018.The company has 50 subsidiaries as on 31 March 2020. On 26 June 2019, pursuant to exercise of put option by Mitsubishi Corporation, Tata Consultancy Services Asia Pacific Pte. Ltd. acquired additional 15% stake in its joint venture with Mitsubishi Corporation in Tata Consultancy Services Japan, Ltd.TCS Financial Solutions Australia Holdings Pty Limited was deregistered with effect from 29 January 2020. Its holdings in TCS Financial Solutions Australia Pty Limited along with its other assets and liabilities were transferred to its holding company, TCS FNS Pty Limited which is a wholly owned subsidiary of the company.On 09 March2020, Tata Consultancy Services Netherlands BV, a direct subsidiary of the Company acquired TCS Business Services GmbH in Dusseldorf, Germany to execute a certain special project.As of 31 March 2020, the Company has applied for 5,216 patents cumulatively. The Company has been granted 1,341 patents.The Board of Directors at its meeting held on 07 October 2020, approved a proposal to buy-back upto 5,33,33,333 equity shares of the Company for an aggregate amount not exceeding Rs 6,000 crore, being 1.42% of the total paid up equity share capital at Rs 3,000 per equity share. The shareholders approved the same on 18 November 2020, by way of a special resolution through postal ballot. The period for tendering of shares for buy-back was from 18 December 2020 to 01 January 2021. The settlement of all valid bids was completed on 05 January 2021, and the equity shares bought back were extinguished on 06 January 2021. Pursuant to the issuance of Letter of Offer, the Company has recorded a liability towards buy-back of equity shares of Rs 6,000 crore and the corresponding tax payable of R 3,726 crore as at 31 December 2020.Tata Consultancy Services Netherlands BV, a wholly owned subsidiary of the Company, as a part of an overall arrangement, signed a definitive agreement on 01 January 2021, to obtain entire equity stake in Postbank Systems AG (PBS), a subsidiary of Deutsche Bank AG, at an agreed consideration.The company has incorporated a wholly owned subsidiary, Tata Consultancy Services Ireland Limited in Ireland on 02 December 2020.CMC Americas, Inc., a wholly owned subsidiary of the company incorporated in USA, was liquidated w.e.f. 16 December 2020.Equity stake in Technology Outsourcing S.A.C., a wholly owned step-down subsidiary at Peru, was sold on 01 December 2020, at book value.As on 31 December 2020, the company has applied for 5,634 patents, including 134 applied during the quarter, and has been granted 1,713 patents.The company ranked number one for customer satisfaction in Germany as well as in Switzerland in the country editions of Whitelane Research 2020 IT Sourcing Study, based on a survey of CXOs and senior IT executives from the top IT spending enterprises in these two countries.The company has been awarded the Best Patents Portfolio in the Large Enterprises (Information and Communications Technology and Services) category at the Confederation of Indian Industry (CII) Industrial Intellectual Property Awards 2020.TCS Connected Clinical Trials solution, part of TCS ADD platform, won the 2020 Citeline Award in the category 'Best Patient-facing Technology Initiative' for providing a positive experience to patients in clinical trials and driving efficiency.