Even as I write this India and many other parts of the world are in the grip of secondor even third waves of the pandemic much fiercer than anything we saw last year. It is ahealth crisis of the kind we have not seen in generations. My heart goes out to everyoneout there who has suffered the loss of loved ones. I am confident we will eventually getit under control but until then I urge you to stay safe follow covid discipline getvaccinated if you are eligible and keep your spirits up.
On the business front your company weathered the pandemic very well. It adaptedquickly and embraced a new operating model that prioritized the health and wellbeing ofits employees while enabling it to continue supporting its customers not just in theirmission-critical operations but also in their growth and transformation journeys. ItsVision 25x25 and pioneering work around talent clouds have reinforced its credentials as athought leader on the future of work and a trend setter in the industry.
TCS' agility resilience and responsiveness during the crisis earned it tremendousgoodwill from customers and enhanced its standing in the market. After the initial impactfrom lockdown-related disruptions it swiftly returned to a sharp growth trajectory overthe next nine months and exited the year on a very strong note with an expanded marketshare industry-leading profitability and an all-time high order book.
Technological change is far more perceptible when it comes to consumer technology andless so in the enterprise world. Enterprise adoption of new technologies tends to be verymeasured and it is only much later with the benefit of hindsight that the scale ofchange and the key inflection points become more evident. To my mind the year gone by sawan important inflection point thathas s of the huge ramifications on enterpriseconsumption of technology in the coming years and on demand for your company's services.
The pressing need for operational resilience and for enhancing customer experiences indigital channels accelerated enterprise decision-making committing to future technologyinvestments around the all-encompassing hyperscaler cloud stacks. This represents animportant inflection point in the enterprise embrace of the cloud and will drivesignificant spending on migrating workloads to public clouds in the coming years.
Moving workloads to the cloud is just the start of their digital transformationjourneys. The rich native capabilities of these stacks particularly in the areas ofanalytics machine learning and artificial intelligence open up a vast array ofpossibilities for enterprises to pursue new business models address new customersegments and provide highly personalized differentiated experiences across the entirecustomer journey.
Your company is very well positioned to benefit from this multi-year technologyupgradation cycle and help customers translate their transformative visions into reality.To better articulate its mission and its aspirations your company adopted a new brandstatement this year RsBuilding on Belief'. I think it describes what TCS does veryaccurately and also Group and its evolution reflectsthe over the last century and a half.
Your company has been guided by a set of strong beliefs right from the time it wasfounded. Belief in our core values belief in putting the customer above all belief ininvesting in people and empowering them belief in constantly trying out new ideas andmodels and belief in doing right by all the stakeholder communities we work with. This iswhy the new brand statement resonates so well and feels so right.
Looking ahead your company sees immense opportunities for growth riding the newtechnology cycle that has kicked off powered by the belief that its differentiatedcapabilities and collaborative solution-centric approach makes it the preferredtransformation partner of its customers. It is building on that belief and investing insharpening the capabilities needed to expand its footprint in this large opportunity.
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 |