security_name stringclasses 3
values | page_no stringclasses 25
values | sentence stringlengths 3 741 |
|---|---|---|
Security_Name | Page_No | Text |
TATA CONSULTANCY SERVICES LTD. | 1 | TCS/SE/202/2022-23 January 11, 2023 National Stock Exchange of India Limited BSE Limited Exchange Plaza, C-1, Block G, Bandra Kurla P. J. |
TATA CONSULTANCY SERVICES LTD. | 1 | Towers, Complex, Bandra (East) Dalal Street, Mumbai - 400051 Mumbai - 400001 Symbol - TCS Scrip Code No. |
TATA CONSULTANCY SERVICES LTD. | 1 | 532540 Dear Sirs, Sub: Transcript of the earnings conference call for the quarter ended December 31, 2022 Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed the transcript of the earnings conference call for the quarter ended December 31, 2022... |
TATA CONSULTANCY SERVICES LTD. | 1 | The above information is also available on the website of the Company: www.tcs.com. |
TATA CONSULTANCY SERVICES LTD. | 1 | Thanking you, Yours faithfully, For Tata Consultancy Services Limited PRADEEP Digitally signed by PRADEEP MANOHAR MANOHAR GAITONDE Date: 2023.01.11 GAITONDE 21:21:36 +05'30' Pradeep Manohar Gaitonde Company Secretary Encl: As above TATA Consultancy Services Limited 9th Floor Nirmal Building Nariman Point Mumbai 400 021... |
TATA CONSULTANCY SERVICES LTD. | 1 | 91 22 6778 9595 Fax 91 22 6778 9660 e-mail corporate.office@tcs.com website www.tcs.com Registered Office 9th Floor Nirmal Building Nariman Point Mumbai 400 021. |
TATA CONSULTANCY SERVICES LTD. | 1 | Corporate identification No. |
TATA CONSULTANCY SERVICES LTD. | 1 | (CIN): L22210MH1995PLC084781 |
TATA CONSULTANCY SERVICES LTD. | 2 | Tata Consultancy Services Limited Q3 FY23 Earnings Conference Call. |
TATA CONSULTANCY SERVICES LTD. | 2 | January 9, 2023, 19:00 hrs IST (08:30 hrs US ET) Moderator: Ladies and gentlemen, good day and welcome to the TCS Earnings Conference Call. |
TATA CONSULTANCY SERVICES LTD. | 2 | As a reminder, all participant lines will be in the listen-only mode. |
TATA CONSULTANCY SERVICES LTD. | 2 | Should you need assistance during the conference call, please signal an operator by pressing ‘*’ and then ‘0’ on your touchtone phone. |
TATA CONSULTANCY SERVICES LTD. | 2 | After today’s presentation, there will be an opportunity to ask questions. |
TATA CONSULTANCY SERVICES LTD. | 2 | To ask a question, you may press ‘*’ then ‘1’ on your telephone keypad. |
TATA CONSULTANCY SERVICES LTD. | 2 | To withdraw your question, please press ‘*’ then ‘2’. |
TATA CONSULTANCY SERVICES LTD. | 2 | Please note that this conference is being recorded. |
TATA CONSULTANCY SERVICES LTD. | 2 | I now hand the conference over to Mr. Kedar Shirali – Global Head, Investor Relations at TCS. |
TATA CONSULTANCY SERVICES LTD. | 2 | Thank you and over to you, sir. |
TATA CONSULTANCY SERVICES LTD. | 2 | Kedar Shirali: Thank you, operator. |
TATA CONSULTANCY SERVICES LTD. | 2 | Good evening and welcome everyone. |
TATA CONSULTANCY SERVICES LTD. | 2 | Thank you for joining us today to discuss TCS’ Financial Results for the Third Quarter of Fiscal Year 2023 that ended December 31, 2022. |
TATA CONSULTANCY SERVICES LTD. | 2 | This call is being webcast through our website and an archive including the transcript will be available on the site for the duration of this quarter. |
TATA CONSULTANCY SERVICES LTD. | 2 | The Financial Statements, Quarterly Fact Sheet and Press Release are also available on our website. |
TATA CONSULTANCY SERVICES LTD. | 2 | Our leadership team is present on this call to discuss our results. |
TATA CONSULTANCY SERVICES LTD. | 2 | We have with us today, Mr. Rajesh Gopinathan -- Chief Executive Officer and Managing Director; Mr. N G Subramaniam -- Chief Operating Officer & Executive Director; Mr. Samir Seksaria -- Chief Financial Officer; Mr. Milind Lakkad -- Chief HR Officer. |
TATA CONSULTANCY SERVICES LTD. | 2 | The management team will give a brief overview of the company's performance followed by Q&A. |
TATA CONSULTANCY SERVICES LTD. | 2 | As you're aware, we don't provide specific revenue or earnings guidance. |
TATA CONSULTANCY SERVICES LTD. | 2 | And anything said on this call which reflects our outlook on the future or which could be construed as a forward-looking statement must be reviewed in conjunction with the risks that the company faces. |
TATA CONSULTANCY SERVICES LTD. | 2 | We have outlined these risks in the : Page 1 of 23 |
TATA CONSULTANCY SERVICES LTD. | 3 | Tata Consultancy Services Q3 FY23 Earnings Conference Call January 9, 2023, 19:00 hrs IST (08:30 hrs US ET) second slide of the quarterly fact sheet available on our website and which has been e-mailed out to those who have subscribed to our mailing list. |
TATA CONSULTANCY SERVICES LTD. | 3 | With that, I would like to turn the call over to Rajesh. |
TATA CONSULTANCY SERVICES LTD. | 3 | Rajesh Gopinathan: Thank you, Kedar. |
TATA CONSULTANCY SERVICES LTD. | 3 | Good morning, good afternoon and good evening to all of you. |
TATA CONSULTANCY SERVICES LTD. | 3 | We had very good growth for a seasonally weak quarter. |
TATA CONSULTANCY SERVICES LTD. | 3 | Our US dollar revenue crossed the 7 billion mark in Q3 and revenues grew 19.1% in rupee terms, 13.5% in constant currency terms, and 8.4% in dollar terms. |
TATA CONSULTANCY SERVICES LTD. | 3 | Our operating margin for the quarter was 24.5%, an expansion of 0.5% sequentially. |
TATA CONSULTANCY SERVICES LTD. | 3 | Our net margin came in at 18.6%. |
TATA CONSULTANCY SERVICES LTD. | 3 | I'm very happy to share that the board has announced a dividend of `75 per share, including a special dividend of `67 per share. |
TATA CONSULTANCY SERVICES LTD. | 3 | Including the interim dividends paid out in the first half of the year, this translates into a shareholder payout of `33,297 crore for year-till-date. |
TATA CONSULTANCY SERVICES LTD. | 3 | I will now invite Samir, Milind and NGS to go over different aspects of our performance during the quarter. |
TATA CONSULTANCY SERVICES LTD. | 3 | I'll step in again later to provide some more color on the demand trends that we're seeing. |
TATA CONSULTANCY SERVICES LTD. | 3 | Over to you, Samir. |
TATA CONSULTANCY SERVICES LTD. | 3 | Samir Seksaria: Thank you Rajesh. |
TATA CONSULTANCY SERVICES LTD. | 3 | Let me first walk you through the headline numbers. |
TATA CONSULTANCY SERVICES LTD. | 3 | In the third quarter of FY'23 our revenues grew 13.5% year-on-year on a constant currency basis. |
TATA CONSULTANCY SERVICES LTD. | 3 | Reported revenue in INR was `582.29 billion, an year-on-year growth of 19.1%. |
TATA CONSULTANCY SERVICES LTD. | 3 | In dollar terms, our revenue was $7.075 billion, an year-on-year growth of 8.4%. |
TATA CONSULTANCY SERVICES LTD. | 3 | Moving to the operating margin, we had 70 basis points benefit from the currency movement. |
TATA CONSULTANCY SERVICES LTD. | 3 | Operational rigor including utilization, reduced use of subcontractors, resulted in a net benefit of 0.3% or 30 basis points, offset by 50 basis points headwind from higher third-party expenses and increasing cost of return to normalcy. |
TATA CONSULTANCY SERVICES LTD. | 3 | Overall, our operating margin expanded 50 basis points sequentially to 24.5%. |
TATA CONSULTANCY SERVICES LTD. | 3 | Net income margin was 18.6% impacted by foreign exchange fluctuations. |
TATA CONSULTANCY SERVICES LTD. | 3 | The effective tax rate for the quarter was 25.7%. |
TATA CONSULTANCY SERVICES LTD. | 3 | Our accounts receivable was at 66 days’ sales outstanding orDSO in dollar terms, up four days sequentially. |
TATA CONSULTANCY SERVICES LTD. | 3 | : Page 2 of 23 |
TATA CONSULTANCY SERVICES LTD. | 4 | Tata Consultancy Services Q3 FY23 Earnings Conference Call January 9, 2023, 19:00 hrs IST (08:30 hrs US ET) Net cash from operations was `111.54 billion, which is a cash conversion of 102.8%. |
TATA CONSULTANCY SERVICES LTD. | 4 | Free cash flows were at `102.15 billion. |
TATA CONSULTANCY SERVICES LTD. | 4 | Invested funds at the end of December stood at `669.24 billion. |
TATA CONSULTANCY SERVICES LTD. | 4 | Lastly, as Rajesh mentioned, the board has announced an interim dividend of `75 per share, which includes a special dividend of `67 per share. |
TATA CONSULTANCY SERVICES LTD. | 4 | Total shareholder payout, year till date, amounts to 110% of free cash flow. |
TATA CONSULTANCY SERVICES LTD. | 4 | Over to you, Milind. |
TATA CONSULTANCY SERVICES LTD. | 4 | Milind Lakkad: Thank you, Samir. |
TATA CONSULTANCY SERVICES LTD. | 4 | You might recall that our approach to overcoming the supply side challenges faced by the industry was to bring in fresh talent at scale, and then train them on new technologies. |
TATA CONSULTANCY SERVICES LTD. | 4 | In the prior six quarters, we onboarded 135,000 fresh engineers. |
TATA CONSULTANCY SERVICES LTD. | 4 | In Q3 alone, we brought on about another 7,000 fresh engineers amounting to a total of 42,000 freshers year-to-date. |
TATA CONSULTANCY SERVICES LTD. | 4 | These are unprecedented numbers. |
TATA CONSULTANCY SERVICES LTD. | 4 | Our biggest strength has been nearly 125,000 TCS at middle and senior levels, who have been with the company for over 10 years on average. |
TATA CONSULTANCY SERVICES LTD. | 4 | They have been central to our ability to culturally and operationally integrate all the fresh talent we brought onboard and ensuring that the project outcomes and customer experiences continue to be the best-in-class. |
TATA CONSULTANCY SERVICES LTD. | 4 | Last year, our net hiring was significantly ahead of our revenue growth. |
TATA CONSULTANCY SERVICES LTD. | 4 | Our focus this year has been on utilizing all that excess capacity and making our newest employees productive. |
TATA CONSULTANCY SERVICES LTD. | 4 | Between that and elevated attrition, we had a net reduction of headcount and our workforce strength as of December 31 st stood at 613,974. |
TATA CONSULTANCY SERVICES LTD. | 4 | We continue to have a very diverse workforce with 153 nationalities represented and with women making up 35.7% of the base. |
TATA CONSULTANCY SERVICES LTD. | 4 | On the learning front, TCSers clocked 11.4 million learning hours in Q3, resulting in an acquisition of 1.3 million competencies. |
TATA CONSULTANCY SERVICES LTD. | 4 | LTM attrition in IT services was at 21.3%, slightly down quarter-on-quarter but still very elevated as it reflects the high levels of churn in the prior quarters. |
TATA CONSULTANCY SERVICES LTD. | 4 | Our quarterly annualized attrition on the other hand fell by nearly 6% in Q3, and we expect it to steadily trend down over the coming quarters. |
TATA CONSULTANCY SERVICES LTD. | 4 | Over to you NGS for some color on segments and product trends. |
TATA CONSULTANCY SERVICES LTD. | 4 | : Page 3 of 23 |
TATA CONSULTANCY SERVICES LTD. | 5 | Tata Consultancy Services Q3 FY23 Earnings Conference Call January 9, 2023, 19:00 hrs IST (08:30 hrs US ET) N G Subramaniam: Thank you, Milind. |
TATA CONSULTANCY SERVICES LTD. | 5 | Let me walk you through our segmental performance details for the quarter. |
TATA CONSULTANCY SERVICES LTD. | 5 | All growth numbers are on a year-on-year constant currency basis. |
TATA CONSULTANCY SERVICES LTD. | 5 | Growth was led by Retail and CPG which grew 18.7%, led by strong demand in the Travel and Hospitality segment while retailers had production freezes during the holiday season. |
TATA CONSULTANCY SERVICES LTD. | 5 | Life Sciences and Healthcare grew 14.4%. |
TATA CONSULTANCY SERVICES LTD. | 5 | Technology and Services grew 13.6%. |
TATA CONSULTANCY SERVICES LTD. | 5 | Communications and Media grew by 13.5%. |
TATA CONSULTANCY SERVICES LTD. | 5 | Manufacturing grew by 12.5% while BFS, our largest vertical grew by 11.1%. |
TATA CONSULTANCY SERVICES LTD. | 5 | Let me now walk you through the growth figures by geography. |
TATA CONSULTANCY SERVICES LTD. | 5 | Among major markets, North America as well as UK grew 15.4%, while Continental Europe grew by 9.7%. |
TATA CONSULTANCY SERVICES LTD. | 5 | Moving on to emerging markets, Latin America grew by 14.6%, India by 9.1%, Asia Pacific by 9.5%, and Middle East and Africa by 8.6%. |
TATA CONSULTANCY SERVICES LTD. | 5 | Moving on, our industry-leading portfolio of products and platforms continue to perform well. |
TATA CONSULTANCY SERVICES LTD. | 5 | ignio™, our cognitive automation software suite signed up 10 new customers and 7 clients went live during the quarter. |
TATA CONSULTANCY SERVICES LTD. | 5 | The business health monitoring solution for ignio is gaining traction with customers and went live in over 2,000 stores for a major American auto retailer in Q3. |
TATA CONSULTANCY SERVICES LTD. | 5 | Enterprises are increasing their investment in AI ops, and automation technologies to improve employee productivity and resilience. |
TATA CONSULTANCY SERVICES LTD. | 5 | ignio is uniquely positioned to ride on this particular opportunity with an end-to-end platform that offers self-healing and machine learning ability across the customer lifecycle to help them in their journey of being an autonomous enterprise. |
TATA CONSULTANCY SERVICES LTD. | 5 | TCS BaNCS™, our flagship product suite for the financial services domain had six new wins and seven go lives during the quarter. |
TATA CONSULTANCY SERVICES LTD. | 5 | We continue to gain share in the market infrastructure institution segment with a new win in Q3. |
TATA CONSULTANCY SERVICES LTD. | 5 | The subsidiary of a leading European CFD selected TCS BaNCS market infrastructure, implementing a unique system offering settlement and correspondent banking services to their customers. |
TATA CONSULTANCY SERVICES LTD. | 5 | : Page 4 of 23 |
TATA CONSULTANCY SERVICES LTD. | 6 | Tata Consultancy Services Q3 FY23 Earnings Conference Call January 9, 2023, 19:00 hrs IST (08:30 hrs US ET) One of the largest asset managers in the USA with over US$7 trillion in global assets, migrated its personnel advisory services and digital advice offerings to the cloud-based TCS BaNCS to its management platform... |
TATA CONSULTANCY SERVICES LTD. | 6 | Our Quartz blockchain platform have two new wins and one go live in Q3. |
TATA CONSULTANCY SERVICES LTD. | 6 | A Swiss multinational pharma major has increased their adoption of Quartz further, building on the successful initial pilots we executed using blockchain, smart contracts and digital payments. |
End of preview. Expand in Data Studio
No dataset card yet
- Downloads last month
- 5