Tata Consultancy Services is an IT services, consulting, and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for over 50 years.
TCS offers a consulting-led, cognitive-powered, integrated portfolio of business, technology, and engineering services and solutions. This is delivered through its unique Location Independent Agile™ delivery model, recognized as a benchmark of excellence in software development.
A part of the Tata group, India’s largest multinational business group, TCS has over 592,000 of the world’s best-trained consultants in 55 countries. The company generated consolidated revenues of US $25.7 billion in the fiscal year ended March 31, 2022, and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) in India.
TCS’ proactive stance on climate change and award-winning work with communities across the world have earned it a place in leading sustainability indices such as the MSCI Global Sustainability Index and the FTSE4Good Emerging Index.
- Won a very large contract from a Fortune 100 US company, further expanding the long-standing partnership, to transform the technology at its global data centers into a future-ready, hybrid cloud stack for greater agility, flexibility, and improved operational resilience. TCS will also deploy a new cognitive-powered operating model to run that stack, to improve the availability of business applications and enhance user experience.
- Selected by Payments Canada, the country’s largest payment organization, to transform its payment system operations and help implement the RealTime Rail (RTR), the new real-time payments system that will allow Canadians to initiate payments and receive irrevocable funds in seconds, 24/7/365. TCS will leverage its deep knowledge of the payments domain, and extensive experience in designing and implementing large payment systems for clients across the world to help Payments Canada create and execute an integration roadmap for the RTR.
- Announced a new organization structure designed to provide a curated experience to each customer depending on where they are in the customer relationship lifecycle journey. Leveraging TCS’ large and deep bench of leadership talent, the new structure further deepens the customer-centricity that TCS was always known for and is expected to help make TCS the preferred growth and transformation partner to more of its clientele.
- Announced plans to grow operations in New Jersey by hiring nearly 1,000 more employees by the end-2023 to meet the strong demand for digital transformation. This follows a similar announcement earlier, to expand in Arizona by investing more than $300 million by 2026 and hiring over 220 employees by 2023. In both states, TCS will also grow the reach of its STEM and computer science education programs, expanding teacher training and student programs.
- Became the #2 most valuable brand in the IT services sector globally, according to Brand Finance, the world’s leading brand valuation firm. According to the Brand Finance 2022 Global 500 IT Services Ranking report, TCS grew its brand value by $1.8 billion (+12.5%) year on year, to $16.8 billion in 2021.
- Ranked #1 in Customer Satisfaction in the largest survey of European businesses by Whitelane Research, for the ninth consecutive year, covering 1,800 CxOs from top IT spending companies in Europe. TCS’ Overall Satisfaction Score was 84% with the lead over the nearest competitor expanding to 4 percentage points vs 1 percentage point in the prior year.
- Named the new title sponsor and official IT services and technology consulting partner of the Toronto Waterfront Marathon and Virtual Race through November 2026. Additionally, TCS renewed its title and technology sponsorship of the TCS New York City Marathon through 2029, and became the new title and technology sponsor of the TCS London Marathon for six years starting 2022.
- Selected by the Government of India to drive the second phase of the pathbreaking Passport Seva Program. TCS will refresh existing facilities and systems, develop new solutions to enable the issuance of e-passports and further enhance the citizen experience. In the first phase launched in 2008, TCS transformed the citizen experience at its nationwide network of Passport Seva centers. Setting global benchmarks in service quality, timeliness, transparency, and reliability, the Passport Seva program became an icon of Digital India and a source of national pride.
- Recognized as a Superbrand in Singapore for the first time, following recognition as a UK Superbrand for the seventh consecutive year. The latter acknowledges the company’s exceptional business growth, its position as the top strategic IT player by revenue in the UK, its number one ranking in customer satisfaction, and its community initiatives.
- Launched TCS’ Cyber Defense Suite—a comprehensive set of modular, quickly deployable cyber security services offered on a platform. Augmenting the 10,000 cyber-specialists and global network of Threat Management Centers that TCS uses to secure its customers globally, the new platform provides 360-degree visibility and predictive intelligence to proactively defend and respond against evolving threats
- Celebrated a milestone with the number of women in the workforce crossing 200,000 in December. Women-centric leadership development initiatives have resulted in the number of senior women executives growing 84% over the last 5 years. The company is part of the 2022 Bloomberg Gender-Equality Index that tracks the performance of public companies committed to transparency in gender-data reporting.
- Launched the TCS Assessment and Migration Factory, a set of tools, accelerators, and services that enable customers to shift their mainframe workloads to the new AWS Mainframe Modernization platform.
- Gained further market share in the UK and was ranked #1 by revenue in the UK Software and IT Services Rankings 2021 by TechMarketView. The company performed very well in the rankings by sub-category as well, topping the Applications Operations category, and ranking #3 in Consulting and Solutions.
- Launched 'Rebegin’, an initiative to enable experienced women professionals who had taken a work sabbatical due to family commitments, to reclaim their careers and pursue their professional aspirations in TCS. Over 14,000 job applications were received under this initiative in FY 2022.
- Launched TCS Google Garages at the TCS Pace Port™ co-innovation centers in Amsterdam, New York and Tokyo. These Garages provide an immersive experience for companies to evaluate TCS’ cloud solutions, develop and prototype applications, apply analytics and artificial intelligence (AI) capabilities using design thinking and agile development to rapidly address business opportunities and create value using Google Cloud.
- Partnered with the Australian Energy Market Operator (AEMO) to implement the switch from 30-minute settlement to 5-minute settlement in the national wholesale electricity spot market. The shorter settlement window, enabled by a cloud-based solution designed by TCS, is expected to provide a better price signal for investment in faster response technologies, such as batteries and gas peaking generators.
- Continued to be the preferred transformation partner to market infrastructure institutions, with TCS BaNCS for Market Infrastructure and Custody solutions powering the operations of over 50 market-critical institutions across 66 countries.
- Entered into a new partnership with Dutch Open, one of Europe’s most innovative and sustainable golf events. TCS will leverage its expertise in digital technologies to help the Dutch Open enrich participant and spectator experience.
- Selected by the Multi-Commodity Exchange India Ltd (MCX) as its technology partner for Project Udaan. TCS will help MCX build a new technology core, transforming its trading as well as post-trade functions, to support its future growth and further strengthen its leadership position in the commodity derivatives market in India.
- The investments in innovation and strong market traction demonstrated by TCS’ cloud units won several partner awards. TCS was named to the Microsoft Business Applications 2021/2022 Inner Circle, and also awarded two 2021 Microsoft Partner of the Year Awards. Similarly, TCS was named the 2020 Google Cloud Breakthrough Partner of the Year for outstanding results across sales, delivery, competency development, expertise, specialization badges, and growth of its customer base.
- Inaugurated TCS Pace Port™ Amsterdam, a co-innovation and advanced research center where TCS teams will co-innovate with European customers, drawing on an ecosystem of partners from academia, government institutions, start-ups, and technology providers. The center will enable ideation and rapid prototyping with a clear focus on finding and creating sustainable solutions.
- The ninth season of TCS CodeVita attracted 136,054 participants from 34 countries, winning it a Guinness World Records™ title at the world’s largest computer programming competition. College students from around the world competed in solving complex programming challenges over an intense six-hour period, to win cash prizes and be ranked among the top student programmers globally.
- Launched a pan-India vaccination drive against Covid-19, covering TCSers and their families, across all TCS locations as well as smaller cities that some employees were remote-working from. The TCS Vaccination League benefited 1.2 million individuals and resulted in over 87% of employees in India getting fully vaccinated and 95% receiving at least one dose.
Financial Highlights FY22
Source: TCS Investor website
|No.||Label||2021-22 (Rs Crore)|
|2||Profit Before Tax||51,687|
|4||Profit After Tax||38,449|
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