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Tata Consultancy Services Ltd.

BSE: 532540 Sector: IT
NSE: TCS ISIN Code: INE467B01029
BSE 00:00 | 05 Mar 3007.00 -40.70
(-1.34%)
OPEN

3020.00

HIGH

3063.45

LOW

2997.35

NSE 00:00 | 05 Mar 3008.05 -41.65
(-1.37%)
OPEN

3016.10

HIGH

3063.20

LOW

2996.60

OPEN 3020.00
PREVIOUS CLOSE 3047.70
VOLUME 63785
52-Week high 3345.25
52-Week low 1504.40
P/E 34.85
Mkt Cap.(Rs cr) 1,112,319
Buy Price 3010.00
Buy Qty 10.00
Sell Price 3027.70
Sell Qty 270.00
OPEN 3020.00
CLOSE 3047.70
VOLUME 63785
52-Week high 3345.25
52-Week low 1504.40
P/E 34.85
Mkt Cap.(Rs cr) 1,112,319
Buy Price 3010.00
Buy Qty 10.00
Sell Price 3027.70
Sell Qty 270.00

Tata Consultancy Services Ltd. (TCS) - Chairman Speech

Company chairman speech

Dear Stakeholder

Adversity they say is the true test of character.

Your company achieved many admirable wins and milestones through the first 11 months ofFY 2020. But it was in the final days of the year that the true nature of itspurpose-driven worldview truly shone through. Your company prioritized the health andsafety of its employees kept customers' mission-critical systems running under verydifficult circumstances and pitched in to help communities across the world battle thepandemic.

When we emerge out of this crisis the world will be a very different place. We arewitnessing many of those changes already. With cloud and the new class of collaborationtools people are discovering that they are able to collaborate with each other just aswell working from home as they did in person in the pre-COVID era. Employers arediscovering that the productivity is just as good if not better in this new way ofworking.

In many sectors digital channels have gone from being secondary nice-to-have optionsto become the primary channels and in some instances the only channels. Schoolscolleges and even courts have shifted to an online-only mode. Farmers' cooperatives aretaking online orders and directly delivering fresh produce to city-dwellers. This is thetransformation that we had spoken of five years go when we said that Default is Digitalbut even I am still amazed by the scale and speed of the change.

By staying true to its purpose and its values and helping its employees customers andcommunities use the power of technology to realize their potential your company is theembodiment of stakeholder capitalism in the true spirit of the Tata ethos. Over the lastfive decades your company has shown itself to be very purpose-driven resilient andadaptable staying relevant to its customers through multiple economic and technologycycles and doing good for all its stakeholders. This is the secret behind its longevityand sustainability.

The sharp shift in consumer preferences will force enterprises to significantlyaccelerate their digital transformation initiatives. They will also invest heavily inbuilding resilience at every level on the front-end as well as in back-office operations.Having pioneered Location Independent Agile™ and the Machine First™ DeliveryModel both of which are of immense value to organizations looking to build operationalresilience and agility your company is very well positioned to benefit from these trends.

Stepping back from the enterprise level and taking a more global view I believe thatthe new world in which digital channels become mainstream which I described in my bookBridgital Nation will offer countries like India a unique opportunity to implement largescale digital interventions that would provide its citizenry easier access to essentialservices while creating millions of new jobs. Your company has been at the forefront inenabling several such high-impact initiatives. TCS' Financial Inclusion Network supportsover 210 million no-frills accounts set up under the Pradhan Mantri Jan Dhan Yojana. Thescheme has created jobs for over 100000 banking correspondents who go out to remotevillages with handheld devices to provide banking services to the unbanked.

There are several other examples: the Passport Seva project which completely reimaginedthe issuance of passports the digital transformation of India Post the platform thatsupports Ayushman Bharat – the world's largest fully funded health insurance schemecovering 500 million of India's poorest and so on. Each of these initiatives showcasesthe innovative use of technology to transform citizen services enhance inclusivity andreduce inequity in society.

By staying true to its purpose and its values and helping its employees customers andcommunities use the power of technology to realize their potential your company is theembodiment of stakeholder capitalism in the true spirit of the Tata ethos. Over the lastfive decades your company has shown itself to be very purpose-driven resilient andadaptable staying relevant to its customers through multiple economic and technologycycles and doing good for all its stakeholders. This is the secret behind its longevityand sustainability.

The next few months will be difficult but your company is strong with deeprelationships with customers and partners enviable scale a diversified business mix arobust and resilient business model and strong financials. It is well positioned toweather the storms ahead and take advantage of opportunities that come up during thedownturn to acquire new capabilities and gain market share. In the post-pandemic worldtechnology will play an ever larger role in helping enterprises adapt to the new normaland differentiate themselves. Your company is well poised to take the lead in partneringcustomers to recover and rebound on to their growth and transformation journeys.

On behalf of the Board of Directors of Tata Consultancy Services I want to thank youfor your continued trust confidence and support.

Warm regards

N Chandrasekaran
Chairman

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