 "TCS")
Tata Consultancy Services (TCS) has weathered the pandemic very well, and has earned tremendous goodwill from customers, which enhanced the firm’s standing in the market, N Chandrasekaran, chairman, said in his virtual address of the 26th Annual General Meeting on Thursday.
He said TCS shareholders received over 3,000 per cent return on their investments since the company was listed in 2004. “If invested Rs 850 per share in the IPO of 2004, the value of that investment today would be Rs 28,000. A return of over 3,000 per cent,” Chandrasekaran said.
On the performance of the company, he said barring the first quarter of the fiscal year, the company delivered a sharp recovery. For FY21, TCS has returned Rs 33,873 crore in dividends and buyback to shareholders, resulting in a payout of 95 per cent of free cash flow.
Chandrasekaran said while Covid-19 disrupted life, it also brought positive changes and new opportunities for TCS. “Almost a decade of advantage has come in because the world is shifting to digital,” he said, adding, “Covid is going to impose sustainability in a big way. All companies will be moving towards adopting this.”
He said global supply chains were getting redesigned as not just-in-time, but also just-in-case, “this means focus on resilience and all these are providing significant opportunity for TCS”, said Chandrasekaran.
He said TCS shareholders received over 3,000 per cent return on their investments since the company was listed in 2004. “If invested Rs 850 per share in the IPO of 2004, the value of that investment today would be Rs 28,000. A return of over 3,000 per cent,” Chandrasekaran said.
On the performance of the company, he said barring the first quarter of the fiscal year, the company delivered a sharp recovery. For FY21, TCS has returned Rs 33,873 crore in dividends and buyback to shareholders, resulting in a payout of 95 per cent of free cash flow.
Chandrasekaran said while Covid-19 disrupted life, it also brought positive changes and new opportunities for TCS. “Almost a decade of advantage has come in because the world is shifting to digital,” he said, adding, “Covid is going to impose sustainability in a big way. All companies will be moving towards adopting this.”
He said global supply chains were getting redesigned as not just-in-time, but also just-in-case, “this means focus on resilience and all these are providing significant opportunity for TCS”, said Chandrasekaran.
