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TCS is an IT services, consulting and business solutions provider TCS is a strategic partner of the World About that has been partnering with the world’s largest businesses in their Economic Forum(WEF) and hosts an exclusive Global Reception during the annual meeting transformation journeys for the last fifty years. TCS offers a consulting- at Davos, that brings together the foremost TCS led, cognitive powered, integrated portfolio of business, technology and leaders from business, government, academia, engineering services and solutions. This is delivered through its unique, media and civil society. Additionally, TCS and #1 WEF have partnered on the Closing the Skills Location Independent Agile delivery model, a benchmark of excellence Fastest Growing Gap initiative, and secured commitments to in software development. Brand of the reskill 17.2 million people towards the fourth Decade in IT industrial revolution. A part of the Tata group, India’s largest multinational business group, services* TCS has over 420,000 of the world’s best-trained consultants in 50 - Brand Finance 2019 countries. The company generated consolidated revenues of US $20 IT Services’ Rankings billion for the year ended March 31, 2019 and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) in India. TCS’ proactive stance on climate change and award winning work with communities across the world have earned it a place TCS is the official partner to in leading sustainability indices such as the Dow Jones Sustainability 12 marathons and running events across the world, in major Index (DJSI), MSCI Global Sustainability Index and the FTSE4Good cities like New York, London, Emerging Index. Singapore, Amsterdam, Mumbai and Canberra. A community of 3,300 of TCS’ clients and 10,400 of its employees participated in these races in 2018. In last year’s report (theme: Dawn of Business 4.0), we had discussed TM Theme the Business 4.0 thought leadership framework, its attributes, the TCS Summits in North America, Europe and Asia Pacific are enabling technologies and the investments TCS had made over the invite-only events that bring together top executives from leading global corporations, and experts from different fields to discuss years, that have positioned us very well to partner customers in their the profound business, geo-political, technology and leadership transformation journeys. trends that are shaping our world. This year’s theme is Growth and Transformation with Business 4.0. In the ensuing pages, we explore how customers are embracing the Business 4.0 thought leadership framework, the nature of their growth TCS’ Innovation Forums, organized in London, New York, Sao Paulo and and transformation initiatives, the role of enterprise agile, and how our Tokyo, provide opportunities for business leaders, technology leaders, participation in those programs is transforming our own business, and academicians and industry experts to come together to exchange ideas, learn about the latest in the enterprise technology landscape, share powering our longer term growth. industry best practices and network with other attendees. Recent Annual Report themes Awards & Recognition IN CUSTOMER #1SATISFACTION 2019 2018/19 EUROPE Whitelane Research TCS Safe Harbor Clause Certain statements in this release concerning our future prospects are forward-looking statements. Forward-looking statements by their nature involve a number of risks and uncertainties that could cause actual results to differ materially from market expectations. These risks and uncertainties include, but are not limited to, our ability to manage growth, intense competition among global IT services companies, various factors which may affect our profitability, such as wage increases or an appreciating Rupee, our FY 2018 FY 2017 FY 2016 FY 2015 FY 2014 ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on cross-border Dawn of Business 4.0 Reimagining the Enterprise Shaping the Future Default is Digital One TCS movement of skilled personnel, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which TCS has made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, The Annual General Meeting will be held on Thursday, June 13, 2019 at Birla Matushri Sabhagar, Sir V.T. Marg, New Marine Lines, Mumbai 400 020, unauthorized use of our intellectual property and general economic conditions affecting our industry. TCS may, from time to time, make additional written and oral forward- looking statements, including our reports to shareholders. These forward-looking statements represent only the Company’s current intentions, beliefs or expectations, and at 3:30 p.m. Towards preserving our environment, printed copies of the Annual Report will not be distributed at the Annual General Meeting. any forward-looking statement speaks only as of the date on which it was made. The Company assumes no obligation to revise or update any forward-looking statements. Contents Board of Directors ...................................................... 02 Consolidated Financial Statements Management team ..................................................... 03 Independent Auditors’ Report ........................................................... 106 Letter from the Chairman ........................................ 04 Consolidated Balance Sheet. .............................................................. 114 Letter from the CEO .................................................. 06 Consolidated Statement of Profit and Loss ................................... 115 Performance Highlights............................................ 09 Consolidated Statement of Changes in Equity ............................ 116 The Year Gone by ....................................................... 10 Consolidated Statement of Cash Flows .......................................... 118 Business 4.0TM Adoption and Impact ................... 13 Notes forming part of the Consolidated Financial Statements............................................................................. 119 Thematic Section Panel Discussion: N G Subramaniam, Unconsolidated Financial Statements V Ramakrishnan and Krishnan Ramanujam ..... 14 Independent Auditors’ Report ........................................................... 174 Business 4.0 Story: KLM .......................................... 17 Balance Sheet .......................................................................................... 184 Business 4.0 Story: AGL ........................................... 18 Statement of Profit and Loss .............................................................. 185 Business 4.0 Story: Bayer ........................................ 19 Statement of Changes in Equity ....................................................... 186 Q&A: S Sukanya .......................................................... 20 Statement of Cash Flows ..................................................................... 188 Business 4.0 Story: Home Depot .......................... 22 Notes forming part of the Financial Statements ......................... 189 Business 4.0 Story: Nissan ...................................... 23 Statement under section 129 of the Companies Act, Business 4.0 Story: Financial Inclusion ............... 24 2013 relating to Subsidiary Companies .......................................... 238 Notice ............................................................................. 25 Glossary .................................................................................... 240 Directors’ Report ........................................................ 36 Management Discussion and Analysis ................. 61 Corporate Governance Report ............................... 76 Corporate Sustainability Report ............................ 94 Business Responsibility Report ............................. 100 Awards and Accolades ............................................. 105 TCS’ Business 4.0TM Thought Leadership Framework Delivering Cloud Creating Mass Exponential Personalization Value Embracing greater segmentation Creating true value propositions and responding to individual that deliver on customer transactions, customized for a demands for the best products, single customer in a world class services, single instance. instantaneous delivery, and incredible price points. Agile Automated Leveraging Embracing Ecosystems Risk Rapidly tapping into the Responding to threats and capabilities and resources delivering new capabilities of partners and competitors much faster, by changing through technology platforms, the traditional risk mitigation to influence their entire value Intelligent mindset to that of embracing and supply chains. risk and adapting and transforming continuously. Board of Directors From left to right O P Bhatt Hanne Birgitte Independent Director Breinbjerg Sorensen Independent Director Dr Ron Sommer Independent Director Aman Mehta Independent Director Don Callahan Independent Director Dr Pradeep Kumar Khosla Rajesh Gopinathan Independent Director Chief Executive Officer
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