Tata Consultancy Services Ltd (TCS IN) - Adjusted

In Millions of INR exc FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 Last 12M
12 Months Ending 03/31/20103/31/20103/31/20103/31/20203/31/20203/31/20203/31/20206/30/202
Revenue SALES_RE 1179660 1231040 1464630 1569490 1641770 1917540 2254580 2320810
+ Sales IS_SALES_ 1179660 1231040 1464630 1569490 1641770 1917540 2254580 2320810
- Cost of IS_COGS_ 668870 712880 851580 — 971380 — 1362680 1396950
+ Cost IS_COG_AN 654300 697160 835090 — 940530 — 1324480 1358680
+ Depre IS_DA_CO 14570 15720 16490 — 30850 — 38200 38270
Gross ProfiGROSS_PRO 510790 518160 613050 — 670390 — 891900 923860
+ Other IS_OTHER_ 0 0 0 0 0 0 0 0
- Operati IS_OPERAT 207580 213390 239390 1183830 246580 1433080 349810 366040
+ Selli IS_SGA_EX 202250 208730 234490 — 235780 — 337500 353720
+ Rese IS_OPERAT— — — 3060 — — 0
+ Depre IS_DEPREC 5300 4410 4060 35290 9800 46040 12030 12080
+ Prov IS_PROVI — — — — — — —
+ Other IS_OTHER_ 30 250 840 1145480 1000 1387040 280 240
Operating IS_OPER_I 303210 304770 373660 385660 423810 484460 542090 557820
- Non-OpeIS_NONOP -35470 -35900 -41130 -34080 -24810 -30060 -26700 -32580
+ Inter IS_NET_IN — — — -31300 — -23980 —
+ Inter IS_INT_EX — — — 4320 — 2650 —
- Intere IS_INT_INC 22820 24710 27870 35620 25120 26630 32630
+ Other IS_OTHER — — — -100 -25120 -40 -32630
+ Forei IS_FOREIG 0 0 0 -7270 0 -10450 0
+ (IncomINCOME_LO 0 0 0 0 0 0 0
+ Other IS_OTHER -12650 -11190 -13260 4590 25430 4410 38560 -4380
Pretax IncoPRETAX_IN 338680 340670 414790 419740 448620 514520 568790 590400
- AbnormaIS_ABNOR -6450 -250 -840 -2740 11020 -2350 -280 -800
+ DisposIS_GAIN_L -30 -250 -840 -460 -130 -230 -260 -230
+ Legal IS_LEGAL_ — — — — 12180 — —
+ Sale IS_GAIN_L -6420 — — -2140 -30 -1980 — -590
+ Unrea IS_UNREAL— — — — — — —
+ Other IS_OTHER_— — — -140 -1000 -140 -20
Pretax Inc PRETAX_IN 345130 340920 415630 422480 437600 516870 569070 591200
- Income IS_INC_TA 81560 82120 100010 98010 111980 132380 146040 152160
+ Curre IS_CURREN— — — 103780 — 136540 — 112590
+ Defer IS_DEFERR— — — -5770 — -4160 — 20
+ Tax A IS_TAX_VA— — — — — — —
Income (LoIS_INC_BE 263570 258800 315620 324470 325620 384490 423030 439040
- Net Ext XO_GL_NE 0 0 0 0 0 0 0 0
+ Disco IS_DISCON 0 0 0 0 0 0 0 0
+ XO & EXTRAORD 0 0 0 0 0 0 0 0
Income (Los NI_INCLUD 263570 258800 315620 324470 325620 384490 423030 439040
- MinorityMIN_NONC 680 540 900 1070 1320 1220 1560 1610
Net Incom NET_INCO 262890 258260 314720 323400 324300 383270 421470 437430
- Preferr IS_TOT_C 0 0 0 0 0 0 0 0
- Other A OTHER_AD 0 0 0 0 0 0 0 0
Net IncomeEARN_FO 262890 258260 314720 323400 324300 383270 421470 437430

Net IncomeEARN_FO 258375 258085 314132 321482 332014 381625 421274 436842
Net AbnorIS_NET_A -4515 -175 -588 -1918 7714 -1645 -196 -588
Net Extra XO_GL_NE 0 0 0 0 0 0 0 0

Basic WeigIS_AVG_N 3940.856 3849.186 3789.749 3752.385 3740.111 3698.832 3659.051 3659.051
Basic EPS, IS_EPS 66.705 67.095 83.05 86.19 86.71 103.62 115.19 119.5438
Basic EPS IS_EARN_B 66.705 67.095 83.05 86.19 86.71 103.62 115.19 119.5438
Basic EPS IS_BASIC_ 65.5632 67.0492 82.8899 85.6741 88.7712 103.1745 115.132 119.3867

Diluted WeIS_SH_FOR 3940.856 3849.186 3789.749 3752.385 3740.111 3698.832 3659.051 3659.051
Diluted EP IS_DILUTE 66.705 67.095 83.05 86.19 86.71 103.62 115.19 119.5438
Diluted EP IS_DIL_EP 66.705 67.095 83.05 86.19 86.71 103.62 115.19 119.5438
Diluted EP IS_DIL_EP 65.5632 67.0492 82.8899 85.6741 88.7712 103.1745 115.132 119.3867

Reference Items
AccountingACCOUNTIIAS/IFRS IAS/IFRS IAS/IFRS IN GAAP IAS/IFRS IN GAAP IAS/IFRS
EBITDA EBITDA 323080 324910 394220 420950 464460 530500 592310 608170
EBITDA Mar EBITDA_M 27.3876 26.3931 26.916 26.8208 28.2902 27.6657 26.2714 26.20507
EBITA EBITA 303210 304780 373670 386550 423810 488010 542090 557820
EBIT EBIT 303210 304770 373660 385660 423810 484460 542090 557820
Gross MargGROSS_MA 43.2998 42.0912 41.857 — 40.8334 — 39.5595 39.80765
Operating OPER_MAR 25.7032 24.7571 25.5122 24.5723 25.8142 25.2647 24.0439 24.03557
Profit MargPROF_MAR 21.9025 20.9648 21.4479 20.4832 20.2229 19.9018 18.6853 18.82282
Current ProCUR_PROFI— — — — — — —
Sales per ACTUAL_S 3046462 3116573 3451996 3499701 3359815 3238021 3667206 3773370
Dividends EQY_DPS 23.5 25 30 73 38 43 115 116
Total Cash IS_TOT_C 92610.11 95714.38 112571.5 424019.5 140564 157339.2 665947.3 669606.4
Personnel IS_PERSON 616220 663960 782450 859520 918140 1075540 1275220 1323450
Depreciati IS_DEPR_E 19870 20130 20550 34400 40650 42490 50220 50350
Rental ExpBS_CURR_ — — — — 14010 — 10030 10680
Source: Bloomberg Right click to show data transparency (not supported for all values)
FY 2024 EsFY 2025 Est
03/31/20203/31/2025
2448282 2693033

1009133 1104197

593596.4 664045.4

634021.2 708200.6

634021.2 708200.6

467738.8 521993.9
467738.8 521993.9

467738.8 521993.9

467273 519962.7

127.781 142.665
127.781 142.665
127.634 141.978

127.781 142.665
127.781 142.665
127.634 141.978

643139.6 717051.7
26.26902 26.62618

593596.4 664045.4
41.218 41.002
24.24543 24.6579
19.08575 19.3077
628897.6 716025.6

93.041 107.121
Tata Consultancy Services Ltd (TCS IN) - Standardized

In Millions of INR exc FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021
12 Months Ending 03/31/20103/31/20103/31/20103/31/20103/31/20103/31/20103/31/20203/31/202
Total Assets
+ Cash, C CASH_CASH156495.4 197224.1 288270 456630 426460 417430 355890 382800
+ Cash BS_CASH_ 144907.2 182298.1 63480 35970 48830 72240 94490 68580
+ ST In BS_MKT_SE 11588.2 14926 224790 420660 377630 345190 261400 314220
+ Accoun BS_ACCT_ 182304 204379.4 240730 226170 249430 273460 305320 300790
+ Accou BS_ACCTS_ 182304 204379.4 240730 226170 249430 273460 305320 300790
+ Notes NOTES_REC 0 0 0 0 0 0 0 0
+ Unbille BS_UNBILL 40056.1 38270.8 39920 52080 66860 51570 106450 65830
+ InventoBS_INVENT— 160.7 — — — — 50 0
+ Raw MINVTRY_R — 121.7 — — — — 50 0
+ Work INVTRY_IN— 0— — — — 0 0
+ Finis INVTRY_FI — 0— — — — 0 0
+ Other BS_OTHER— 39 — — — — 0 0
+ Other S OTHER_CUR 50847.7 48095 63220 68280 69490 178850 134660 243380
+ Prepa BS_PREPAY— — — — — — 17880 —
+ Taxes BS_TAXES_ 338.3 — 320 260 370 18530 13840 190
+ Misc S BS_OTHER_ 50509.4 48095 62900 68020 69120 160320 102940 243190
Total CurreBS_CUR_A 429703.2 488130 632140 803160 812240 921310 902370 992800
+ Propert BS_NET_FI 103643.7 121424.9 117900 117410 116000 116500 198410 197680
+ Prope BS_GROSS_— 193903.2 — — — — 353440 —
- Accum BS_ACCUM— 72478.3 — — — — 155030 —
+ LT Inve BS_LT_INV 22900.9 1691.8 3430 4110 3950 3340 2900 2680
+ LT In BS_LONG_ 22900.9 1691.8 3430 3440 3010 2390 2160 2130
+ LT Rec BS_LT_REC— — — 670 940 950 740 550
+ Other L BS_OTHER 132877.5 125362.1 158660 128850 151900 129380 105310 135650
+ Total BS_DISCLO 41568.4 22620.5 39460 37680 38960 40130 19930 44280
+ GoodwiBS_GOODW 39796.8 20932.2 38120 37210 38840 38340 17100 39480
+ Other OTHER_INT 1771.6 1688.3 1340 470 120 1790 2830 4800
+ Prepa BS_PREPAI— — — — — — 8390 —
+ Defer BS_DEFERR 23060 5939.4 28820 28050 34230 26320 28280 39030
+ Invest BS_INVEST 0 0 0 0 0 0 0 0
+ Misc L OTHER_NO 68249.1 96802.2 90380 63120 78710 62930 48710 52340
Total NoncBS_TOT_N 259422.1 248478.8 279990 250370 271850 249220 306620 336010
Total AssetBS_TOT_AS689125.3 736608.8 912130 1053530 1084090 1170530 1208990 1328810

Liabilities & Shareholders' Equity

+ PayableACCT_PAYA 72536.2 89207 99810 81790 85330 113150 166300 176010
+ Accou BS_ACCT_P 55365.4 88309.3 75410 49050 50940 62920 67400 78600
+ Accru BS_TAXES_ 6701.8 — 8050 14120 14210 26670 65860 62430
+ Inter INTEREST_— 4.8 — — — — 530 —
 + Other BS_ACCRU 10469 892.9 16350 18620 20180 23560 32510 34980
+ ST DebtBS_ST_BO 1696.1 2434.3 1620 2180 1930 180 12700 12920
+ ST Bo SHORT_TE 1696.1 1860.3 1620 2180 1930 180 12680 0
+ ST Lea ST_CAPITAL 0 574 0 0 0— 20 12920
+ ST F ST_CAPITA 0 574 0 0 0— — —
+ ST O BS_ST_OPE— — — — — — 20 —
+ Other STOTHER_CUR 36519.3 111541.1 54260 61150 91020 107510 91600 152620
+ Defer ST_DEFER 10507.3 0 13590 13980 20320 23920 29150 36500
+ Deriv BS_DERIV_— 197.5 — — — — — 0
+ Misc STOTHER_CUR 26012 111343.6 40670 47170 70700 83590 62450 116120
Total CurrenBS_CUR_LI 110751.6 203182.4 155690 145120 178280 220840 270600 341550
+ LT DebtBS_LT_BO 1272.6 1142.7 830 710 540 440 69060 65030
+ LT Bo LONG_TER 1272.6 5.8 830 710 540 440 0 0
+ LT LeasLT_CAPITAL 0 1136.9 0 0 0— 69060 65030
+ LT F LT_CAPITA 0 1136.9 0 0 0— — —
+ Other LTOTHER_NO 16844.5 14658.5 20170 20890 28840 29160 21840 29930
+ AccrueBS_ACCRUE 0 0 0— — — — 0
+ PensioPENSION_LI 2749.1 — 2370 2450 2900 3300 — 7490
+ Defe BS_DEFERR— — — — — — 4170 —
+ Defer LT_DEFER 0 0 0 0 5030 8440 6970 11970
+ Deferr BS_DEFERR 5556.4 3429.6 8050 9190 11700 10420 7790 7670
+ Deriv BS_DERIV_— — — — — — — 0
+ Misc LTOTHER_NO 8539 11228.9 9750 9250 9210 7000 2910 2800
Total Noncu NON_CUR_ 18117.1 15801.2 21000 21600 29380 29600 90900 94960
Total LiabilBS_TOT_LI 128868.7 218983.6 176690 166720 207660 250440 361500 436510
+ Preferr PFD_EQTY_ 0 0 0 0 0 0 0 0
+ Share C BS_SH_CA 21161.6 21147.4 52790 52790 1910 3750 3750 3700
+ CommBS_COMMO 1958.7 1958.7 1970 1970 1910 3750 3750 3700
+ Additi BS_ADD_PA 19202.9 19188.7 50820 50820 0 0 0 0
- Treasur BS_AMT_O 0 0 0 0 0 0 0 0
+ RetaineBS_PURE_R517433.9 391325.7 664960 814870 842540 886150 791850 827450
+ Other E OTHER_EQU 14756.5 93874.5 14140 15490 27960 25660 45660 54400
Equity BefoEQTY_BEF_ 553352 506347.6 731890 883150 872410 915560 841260 885550
+ Minorit MINORITY 6904.6 11277.6 3550 3660 4020 4530 6230 6750
Total EquitTOTAL_EQU560256.6 517625.2 735440 886810 876430 920090 847490 892300
Total LiabilTOT_LIAB 689125.3 736608.8 912130 1053530 1084090 1170530 1208990 1328810

Reference Items
AccountingACCOUNTIIAS/IFRS IN GAAP IAS/IFRS IAS/IFRS IAS/IFRS IAS/IFRS IN GAAP IAS/IFRS
Shares OutBS_SH_OU 3917.456 3917.456 3940.856 3940.856 3828.575 3752.385 3752.385 3699.051
Number ofBS_NUM_O 0 0 0 0 0 0 0 0
Pension ObBS_PENSIO 2749.1 — 2370 2450 2900 3300 — 7490
Future MinBS_FUTURE 0 44098.5 0 0 0 0— —
Capital LeaBS_TOTAL_ 0 1710.9 0 0 0— — —
Percent OfBS_PERCE — 17.06 — — — — 15.8 —
Number OfBS_NUM_O— 616828 — — — — 893446 —
Options GrBS_OPTIO — 0— — — — — —
Options OuBS_OPTIO — 0— — — — — —
Net Debt NET_DEBT -153526.7 -193647.1 -285820 -453740 -423990 -416810 -274130 -304850
Net Debt t NET_DEBT -27.4029 -37.4107 -38.8638 -51.1654 -48.3769 -45.301 -32.3461 -34.1645
Tangible C TCE_RATIO 79.033 67.75 79.3461 83.2278 79.7461 77.4443 69.0739 65.4924
Current RaCUR_RATI 3.8799 2.4024 4.0602 5.5345 4.556 4.1718 3.3347 2.9067
Cash ConveCASH_CON— — — — — — — 39.9534
Number ofNUM_OF_E 300464 319656 353843 387223 394998 424285 448464 488649
Source: Bloomberg Right click to show data transparency (not supported for all values)
FY 2022 FY 2023
03/31/20203/31/2023

482570 472440
179950 71230
302620 401210
340740 410490
340740 410490
0 0
130580 89050
200 0
170 0
0 0
30 0
0 0
129010 130720
32220 —
13210 80
83580 130640
1083100 1102700
196150 191550
391410 —
195260 —
3680 4150
2230 2660
1450 1490
132210 159290
28880 48730
17870 40060
11010 8670
12910 —
37080 32770
0 0
53340 77790
332040 354990
1415140 1457690

284170 239250
80450 105150
157450 93450
460 —
 45810 40650
14500 14850
— 0
14500 14850
— —
— —
124840 181480
36350 38430
— —
88490 143050
423510 435580
63680 62030
— 0
63680 62030
— —
29490 26840
— 0
— 5360
6770 —
11100 10030
5900 7920
— —
5720 3530
93170 88870
516680 524450
0 0
3660 3660
3660 3660
0 0
0 0
783200 775940
104530 145820
891390 925420
7070 7820
898460 933240
1415140 1457690

IN GAAP IAS/IFRS
3659.051 3659.051
0 0
— 5360
— —
— —
14.3 —
 3.66E+09 —
— —
— —
-404390 -395560
-45.0092 -42.3857
62.2185 62.2225
2.5574 2.5316
-59051.09 35.9756
592195 614795
Tata Consultancy Services Ltd (TCS IN) - Standardized

In Millions of INR exc FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022
12 Months Ending 03/31/20103/31/20103/31/20103/31/20103/31/20103/31/20203/31/20203/31/202
Cash from Operating Activities
+ Net In CF_NET_IN 198521.8 242150 262890 258260 314720 323400 324300 383270
+ DepreciCF_DEPR_ 13089.4 18880 19870 20140 20560 35290 40650 46040
+ Non-Ca NON_CASH -6406.5 -4230 3110 28420 -24390 22900 25550 41000
+ Other OTHER_NO -6406.5 -4230 3110 28420 -24390 22900 25550 41000
+ Chg in CF_CHNG_ 7472.2 -47640 -9800 -25160 5780 -29770 20570 -50730
+ (Inc) CF_ACCT_R -21580.4 -29360 6800 -18330 -28830 -32950 12600 -42100
+ (Inc) CF_CHANGE -8.6 — — — — 50 — -120
+ Inc (D CF_CHANG— — -2010 -3460 14960 4460 -930 1860
+ Inc (D INC_DEC_I 29061.2 -18280 -14590 -3370 19650 -1330 8900 -10370
+ Net CasCF_NET_C 0 0 0 0 0 0 0 0
Cash from O CF_CASH_ 212676.9 209160 276070 281660 316670 351820 411070 419580

Cash from Investing Activities

+ Change FIXED_IN -29425 -19680 -19530 -18040 -21320 -30880 -31390 -29640
+ Disp i DISPOSAL_ 67 220 370 580 990 1610 370 310
+ Disp o CF_DISPOS 67 220 360 580 990 1610 370 310
+ Disp o CF_DISPOS 0 0 10 0 0 0 0 0
+ Acq o ACQUIS_OF -29492 -19900 -19900 -18620 -22310 -32490 -31760 -29950
+ Acq o CF_PURCHA -29492 -19870 -19890 -18620 -20530 -30570 -28200 -24980
+ Acq of CF_ACQUIS 0 -30 -10 0 -1780 -1920 -3560 -4970
+ Net ChaNET_CHG_I— — — — 0 0 0 0
+ Dec i CF_DECR_I— — — — 0 0 0 0
+ Inc in CF_INCR_I — — — — 0 0 0 0
+ Net Ca CF_NT_CS -2636.5 0 0 0 -500 0 0 0
+ Cash CF_CASH_F 0 0 0 0 0 0 0 0
+ Cash CF_CASH_F -2636.5 0 0 0 -500 0 0 0
+ Cash f CF_CASH_ 0 0 0 0 0 0 0 0
+ Other InOTHER_INV -4990.6 -50090 -171830 15510 5180 79160 -79290 -6400
+ Net CasCF_NET_C 0 0 0 0 0 0 0 0
Cash from ICF_CASH_ -37052.1 -69770 -191360 -2530 -16640 48280 -110680 -36040

Cash from Financing Activities

+ Dividen CF_DVD_P -170204.6 -94320 -109730 -107600 -114720 -376340 -108500 -133170
+ Cash F PROC_FR_ 429.4 -1330 210 -430 -1940 -10620 -13360 -14170
+ Cash CF_NET_CH— -730 870 -190 -1810 0 0—
+ Cash CF_LT_DEB— — 0 0— 0 0—
+ Repay CF_LT_DE — -600 -660 -240 -130 -10620 -13360 -14170
+ Cash (R NET_CAP_ 0 0 0 -160420 -160450 0 -197570 -180670
+ Increa CF_INCR_C 0 0 0 0 0 0 0 1620
 + Decre CF_DECR_ 0 0 0 -160420 -160450 0 -197570 -182290
+ Other F OTHER_FI -851.1 -810 -540 0 0 -2950 -570 -820
+ Net CasCF_NET_CA 0 0 0 0 0 0 0 0
Cash from FCFF_ACTIV-170626.3 -96460 -110060 -268450 -277110 -389910 -320000 -328830

Effect of CF_EFFECT -1058.2 1400 -1630 2180 490 4030 1730 1590

Net ChangeCF_NET_C 3940.3 44330 -26980 12860 23410 14220 -17880 56300

Cash Paid fCF_CASH_P 74817.6 75780 79460 76090 99580 58460 90920 114860
Cash Paid fCF_ACT_CA 1049.8 200 200 400 1860 9240 6340 6980

Reference Items
EBITDA EBITDA 239919.6 306780 323110 325160 395060 421090 453280 530570
Trailing 1 EBITDA_M 25.3485 28.2367 27.3901 26.4134 26.9734 26.8297 27.6092 27.6693
Interest ReCF_INTERE 19944 — — — — 37290 — 27000
Net Cash PaCF_NET_CA 2636.5 — — — 500 0 0 0
Free Cash CF_FREE_ 183184.9 189290 256180 263040 296140 321250 382870 394600
Free Cash CF_FREE_ 183979.6 189542.2 256424.4 263434.7 297643.6 324567.8 387609.9 396571.3
Free Cash FFREE_CAS 183681.3 188180 256750 263190 295190 312240 369880 380740
Free Cash FREE_CAS 46.7612 48.1399 65.0062 68.3365 78.1424 85.6122 102.3686 106.6823
Price to Fr PX_TO_FR 27.3084 26.1768 18.7044 20.8465 25.6154 21.3299 31.0432 35.0569
Cash Flow CASH_FLO 1.0713 0.8638 1.0501 1.0906 1.0062 1.0879 1.2676 1.0947
Source: Bloomberg Right click to show data transparency (not supported for all values)
FY 2023 Last 12M
03/31/20206/30/2023

421470 437430
50220 50350
29440 26480
29440 26480
-56080 -63760
-65010 -53470
0
20360 -630
-11430 -9660
0 0
445050 450500

-30630 -26840
370 340
370 340
0 0
-31000 -27180
-27450 -23550
-3550 -3630
0 0
0 0
0 0
0 0
0 0
0 0
0 0
-2170 21750
0 0
-32800 -5090

-413470 -332970
-15150 -15550
0 0
0 0
-15150 -15550
180 180
180 42100
 0 -41920
-42550 -950
0 0
-470990 -349290

5090 4350

-53650 100470

129660 127890
7790 7460

592590 608410
26.2838 26.21542
—
0 0
417600 426950
423390.9 432468.1
402820 411740
114.1279 116.6832
28.0904 30.77263
1.0559 1.025465