Tata Consultancy Services Limited

Tata Consultancy Services Limited (TCS) is engaged in providing information technology (IT) services, digital and business solutions. The Company's segments include banking, finance and insurance services (BFSI); manufacturing; retail and consumer packaged goods (CPG); telecom, media and entertainment, and others, such as energy, resources and utilities, hi-tech, life science and healthcare, s-Governance, travel, transportation and hospitality, and other products. Its services portfolio consists of IT and assurance services, business intelligence and performance management, business process services, cloud services, connected marketing solutions, consulting, engineering and industrial services, enterprise solutions, IT infrastructure services, mobility products and services and platform solutions. Its software offerings include Digital Software and Solutions, TCS BaNCS and TCS MasterCraft, among others. It serves industries, including insurance, healthcare, retail, telecom and others. For the financial years ended FY19, FY20 and FY21 the company recorded total income of Rs 1,46,463 cr, Rs 1,56,949 cr and Rs 1,64,177 crores respectively, and net profit Rs 31,472 cr, Rs 32,340 cr and Rs 32,430 cr respectively. As per limited review unaudited financial results for the 9M FY22, the company recorded total income of Rs 1,44,200 cr and net profit of Rs 28,269 cr. The financials of the company is good all these years, RoCE is 48.9% and at CMP its looks fully priced. Price difference is around 38% and expected acceptance ratio as per current share holding would be around 10%, but as per past records it may go upto 40% to 60%. So we give SUBSCRIBE rating to this buyback and who are holding this stock before announcement of buyback, may participate in buyback depending on market price.

• 1 Mr. Rajesh Pirogiwal
• 2 Mrs. Sunita Pirogiwal
• 3 Miss Tanvi Pirogiwal