TCS Financial Results

Quarter IV & Year Ended FY 2023-24

Apr 12, 2024

Disclaimer

Certain statements in this release concerning our future prospects are forward-looking statements. Forward-looking statements by their nature involve a number of risks and uncertainties that could cause actual results to differ materially

from market expectations. These risks and uncertainties include, but are not limited to our ability to, manage growth, intense competition among global IT services companies, various factors which may affect our profitability, such as wage increases or an appreciating Rupee, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price,fixed-time frame contracts, client concentration, restrictions on cross-border movement of skilled personnel,

our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which TCS has made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our industry. TCS may, from time to time, make additional written and oral forward-looking statements, including our reports to shareholders. These forward-looking statements represent only the Company's current intentions, beliefs or expectations, and any forward-

looking statement speaks only as of the date on which it was made. The Company assumes no obligation to revise or

update any forward-looking statements.

2

Quarterly Financial Performance

Q4 FY24 Performance Highlights

  • Revenue:
    • INR Revenue of ₹ 612,370 Mn, up 3.5% YoY
    • USD Revenue of $ 7,363 Mn, up 2.3% YoY
    • Constant currency revenue up 2.2% YoY
  • Profit:
    • Operating Margin at 26.0%
    • Net Margin at 20.3%
    • Cash flow from operations at 100.4% of net profit
  • Demand:
    • Clients $100M+ up by 2 ; $50M+ up by 6 ; $10M+ up by 26 & $1M+ up by 53 YoY
    • Order book TCV at $13.2 Bn; North America TCV at $5.7 Bn; BFSI TCV at $4.1 Bn, Consumer Business TCV at $1.6 Bn
  • People:
    • Closing headcount: 601,546
    • LTM attrition at 12.5% in IT Services

4

Growth Summary (INR)

Revenue

591,620

593,810

596,920

605,830

612,370

` Million

Q4 FY23

Q1 FY24

Q2 FY24

Q3 FY24

Q4 FY24

Operating Income

144,880

144,830

151,550

159,180

137,550

` Million

Q4 FY23

Q1 FY24

Q2 FY24

Q3 FY24

Q4 FY24

Net Income

124,340

113,920

117,350

110,740

113,420

` Million

Q4 FY23

Q1 FY24

Q2 FY24

Q3 FY24

Q4 FY24

*Q3FY24 excludes settlement of legal claim

16.9%

Y-o-Y Growth

Y-o-Y Growth CC

12.6%

7.9%

10.7%

7.0%

4.0%

3.5%

1.7%

2.8%

2.2%

Q4 FY23

Q1 FY24

Q2 FY24

Q3 FY24

Q4 FY24

Operating margin (%)

25.0%

26.0%

24.5%

24.3%

23.2%

Q4 FY23

Q1 FY24

Q2 FY24

Q3 FY24

Q4 FY24

Net margin (%)

19.3%

19.0%

19.4%

20.3%

18.6%

Q4 FY23

Q1 FY24

Q2 FY24

Q3 FY24

Q4 FY24

5

Growth Summary (USD)

Revenue

7,195

7,226

7,210

7,281

7,363

$ Million

Q4 FY23

Q1 FY24

Q2 FY24

Q3 FY24

Q4 FY24

Operating Income

1,761

1,674

1,749

1,821

1,914

$ Million

Q4 FY23

Q1 FY24

Q2 FY24

Q3 FY24

Q4 FY24

Net Income

1,496

1,385

1,370

1,410

1,347

$ Million

Q4 FY23

Q1 FY24

Q2 FY24

Q3 FY24

Q4 FY24

* Q3FY24 excludes settlement of legal claim

Y-o-Y Growth

Y-o-Y Growth CC

10.7%

7.0%

4.8%

2.9%

2.3%

7.4%

6.6%

2.8%

1.7%

2.2%

Q4 FY23

Q1 FY24

Q2 FY24

Q3 FY24

Q4 FY24

Operating margin (%)

26.0%

24.5%

24.3%

25.0%

23.2%

Q4 FY23

Q1 FY24

Q2 FY24

Q3 FY24

Q4 FY24

Net margin (%)

19.3%

18.6%

19.0%

19.4%

20.3%

Q4 FY23

Q1 FY24

Q2 FY24

Q3 FY24

Q4 FY24

6

Annual Financial Performance

FY24 Performance Highlights

  • Revenue:
    • INR Revenue of ₹ 2.41 Tn, growth of 6.8%
    • USD Revenue of $ 29,080 Mn, growth of 4.1%
    • Constant currency revenue growth of 3.4%
  • Profit:
    • Operating Income at ₹ 593,110 Mn, Operating Margin of 24.6%*
    • Net Income at ₹ 465,850 Mn, $ 5,623 Mn, Net Margin of 19.3%*
    • Free Cash Flow at ₹ 442,820 Mn, 6.9% up
  • Demand:
    • Clients $100M+ up by 2 ; $50M+ up by 6 ; $10M+ up by 26 & $1M+ up by 53 YoY
    • Order book TCV at $42.7 Bn; North America TCV at $19.6 Bn; BFSI TCV at $12.7 Bn, Consumer Business TCV at $5.8 Bn
  • People:
    • Closing headcount: 601,546
    • Women makes up 35.6% of total employee strength

*excludes settlement of legal claim

8

Growth Summary

Summary ₹

Revenue & Growth (Actual & CC) %

2,408,930;

2,254,580;

6.8%

17.6%

Million

1,917,540;

3.4%

16.8%

13.7%

`

15.4%

FY22

FY23

FY24

Operating Income & Margin %

542,370;

593,110;

24.6%

484,530;

24.1%

` Million

25.3%

FY22

FY23

FY24

Net Income & Margin %

421,470;

465,850;

383,270;

19.3%

18.7%

` Million

20.0%

FY22

FY23

FY24

* FY24 excludes settlement of legal claim

$ Million

$ Million

$ Million

Summary $

Revenue & Growth (Actual & CC) %

27,927;

29,080;

4.1%

25,707;

8.6%

3.4%

15.9%

13.7%

15.4%

FY22

FY23

FY24

Operating Income & Margin %

6,496;

6,714;

7,158;

25.3%

24.6%

24.1%

FY22

FY23

FY24

Net Income & Margin %

5,139;

5,219;

5,623;

19.3%

20.0%

18.7%

FY22

FY23

FY24

9

Operational Parameters

Attachments

Disclaimer

TCS - Tata Consultancy Services Ltd. published this content on 12 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 April 2024 12:11:09 UTC.