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TCS Annual Report 2013-14 Financial Highlights

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TCS Annual Report 2013-14 Financial Highlights Contents Board of Directors 02 Financial Highlights 03 Our Leadership Team 04 Letter from CEO 05 Customers Speak 07 Associates Speak 08 Community 10 Committed to the Future 11 Management Team 13 Notice 14 Directors' Report 24 Management Discussion and Analysis 32 Corporate Governance Report 70 Business Responsibility Report 86 Consolidated Financial Statements Auditors’ Report 102 Consolidated Balance Sheet 104 Consolidated Statement of Profit and Loss 105 Consolidated Cash Flow Statement 106 Notes forming part of the Consolidated Financial Statements 108 Unconsolidated Financial Statements Auditors’ Report 142 Balance Sheet 146 Statement of Profit and Loss 147 Cash Flow Statement 148 Notes forming part of the Financial Statements 149 Statement under Section 212 of the Companies Act, 1956 relating to subsidiary companies 184 Board of Directors (Standing - Left to Right) (Seated - Left to Right) O P Bhatt V Kelkar Director Director A Mehta C M Christensen Director Director I Hussain N Chandrasekaran Director Chief Executive Officer and Managing Director V Thyagarajan Director C P Mistry Chairman P A Vandrevala Director S Ramadorai Vice Chairman Photo taken at TCS Seven Hills R Sommer Campus, Cincinnati, Ohio, USA Director 02 I TCS Annual Report 2013-14 Financial Highlights Net Profit 37.7% Up 37.7% Y-o-Y @ 19,164 crore EBITDA 39.4% Up 39.4% Y-o-Y @ 25,153 crore Revenue Up 29.9% Y-o-Y @ 29.9% 81,809 crore TCS: A Power Brand TCS brand value up by US$ 3.04 billion in 2014 Overall brand value in 2014 US$ 8.2 billion A 3X increase in the growth of our brand value Consolidated our “Big 4" position in the IT services category 58% growth in brand value “TCS” the Fastest Growing IT services brand in 2013 worldwide Top Industry Rating Source: Brand Finance Global 500 Study 2014. Strongest brand rating in industry: Prepared exclusively for Tata Consultancy Services Brand strength rated at AA+ TCS Annual Report 2013-14 I 03 Our Leadership Team A Mukherjee N Chandrasekaran R Gopinathan Executive Vice President and Global Head - HR Chief Executive Officer and Managing Director Chief Financial Officer 04 I TCS Annual Report 2013-14 Letter from CEO Dear Shareholders, Your Company posted another stellar energy and commitment of over Big Data, Social Media, Cloud performance in 2013-14 and 300,000 TCSers, whose passion for Computing and Robotics – what we continued to maintain its growth technology and dedication to the refer to as the “Digital Five Forces”, is momentum to record consolidated customer, is unparalleled in this rapidly changing the world around us. revenue of ` 81,809 crore (up 29.9%), industry. It is shaping how we interact, respond while the disciplined approach to and connect with one another as operations helped your Company Your Company’s services portfolio individuals or as companies and even post net profit of ` 19,164 crore continued to grow, with an increase as governments. (up 37.7%) and realise a strong in customer base across all revenue margin of 23.4% (up 134 bps). bands. For instance, in 2013-14, the At a macro level, global IT spending number of customers in US$ 1 million continues to grow year-on-year and it Your Company has continued the plus band increased to 714 (addition is my firm belief that the Digital Five practice of consistently rewarding its of 76 new customers) and in the Forces are going to accelerate this shareholders, with dividends. This US$ 100 million plus band to 24 trend, as IT usage increases across year, the total dividend is ` 32 per (addition of 7 new customers). industries. The on-going investment share, including ` 20 per share of your Company, in these recent proposed as final dividend. Earnings I take this opportunity to describe the trends, will enable it to play an per share increased from ` 70.99 in recent key technology trends and impactful role, in this technology the previous financial year to ` 97.67. their tremendous transformative revolution. impact on society, business and This strong performance would not communities. It is my belief that the From an industry perspective, the have been possible without the clutch of new technologies - Mobility, impact of the Digital Five Forces on TCS Annual Report 2013-14 I 05 the world around us, will be of a platform or SMS, suggesting on social platforms and a well higher magnitude than the immediate corrective action, or even appreciated reward and recognition technology cycles, like e-business a personal visit. And that’s not all. programme. and enterprise systems that have Patients will be able to define their driven business in previous decades. peer set of friends, acquaintances Rigorous R&D in your Company is Those technologies helped digitally and family to emulate and see the leading to innovation in tools, enabled global corporations to relative fitness of this group. Hence, products and platforms, resulting in connect their supply chains and the healing can start before the onset more Intellectual Property Rights promoted efficiency through better of harm. (IPR) being created. We have information flow across increased our patent filings organisations. What the Digital Five This is how the Digital Five is helping significantly; so far 1,746 patent Forces are doing, is to complete the us re-imagine healthcare. applications have been filed, of entire transaction loop, by bringing which, 114 have been granted. in the most important element of S i m i l a r t ra n s fo r m ations are business, namely, the individual simultaneously being witnessed in Your Company continues to invest in consumer. multiple industries. Your Company green and intelligent world-class is playing a pivotal role in this infrastructure and campuses in Tier I To illustrate this impact and re-imagination journey, with many of as well as Tier II cities in India and also demonstrate the transformation, its customers across markets and across the world. I would like to use Healthcare as an industries. By investing early, your example. Healthcare will no longer Company has built up significant In 2013-14, your Company set up a remain a reactive exercise, as it is scale in capabilities across the Digital unique initiative in Saudi Arabia by today. For long, we have been used to Five Forces. We continue to build our launching the world’s first all-women seeing a doctor, only when we fall ill. Intellectual Property in these areas as Business Process Services unit. Your Health is our most precious asset, well. Company is investing on an on-going and sometimes we notice the basis, to build its brand in key problem only once it impacts our I believe, the capabilities built in this markets. I am delighted to inform you lifestyle. This scenario is changing area will ensure that your Company that your Company has become the fast. continues to remain relevant to the Title Sponsor of the TCS New York City customers. I expect our strengths in Marathon, which is one of the world’s Looking after our health will become these areas to be a major driver of largest and most famous long- an on-going planned activity. revenue and profitability in the distance races. Wearable devices, that collect future. information from the human body I am also happy to report, that your and monitor health 24/7, are Your Company is also investing in the Company was recognised world becoming accessible to consumers Digital Five Forces to create the next- wide,for its leadership and in a form that can be easily adopted. generation social organisation, excellence, across various This data will be collected and which engages all employees, dimensions, by influencers, transmitted through smart phones; regardless of location, while making customers and media. stored in the cloud; analysed and them more productive and compared with other patients using energised. On behalf of the entire Company and big data techniques and smart its leadership team, I want to thank all analytics. If something of concern With a fast expanding organisation shareholders for their co-operation crops up in these continuous that has inducted and integrated and commitment. I look forward to diagnostics, the family doctor or a over 50,000 new professionals in the your continued support, as your clinic will be notified. They will be past 12 months, your Company Company embarks on the next phase able to access the patient’s data continues to be recognised as a of its growth journey. online and make the diagnosis while benchmark brand for IT viewing all the relevant patient professionals. At around 90%, it has information, including family the highest retention rate in the Warm regards medical history, in just a few clicks. industry, globally. Your Company N Chandrasekaran The doctor will then send a direct continues to invest in capabilities of Chief Executive Officer and message to the patient, through TCSers, through training in new Managing Director private channel on social media technologies, engaged collaboration May 21, 2014 06 I TCS Annual Report 2013-14 Customers Speak TCS North America Customer Summit - 2013 World Economic Forum (DAVOS) - 2014 TCS Australia & New Zealand Customer Summit - 2013 “TCS has been a very strategic “Anything is possible, “We needed a partner, who had the partner for us… They’ve helped us from modifying our architecture right people, the right behaviour, deliver on so many key business to a complete provider and system and the culture that would really gel results, as a new, stand-alone switch. In TCS, we have unearthed with National Grid’s own culture company. They have worked a partner with whom we can to make this a success.” diligently with us to identify where collaborate on any technology, we need to be in terms of our no matter what direction business systems, infrastructure, we choose to take.” application portfolio.” Ray Lowry Otmar Preisinger Jon Carlton Chief Information Officer, IT Director, SCM Planning Services, Director of Shared Services, McGraw Hill Education Infineon Technologies AG National Grid (UK) “TCS certainly deserves a word of “The Global Network Delivery “Over the years, TCS has built appreciation and congratulations Model proved to be very efficient.
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