TCS AGM: Chandra sees gains for TCS in redesigned global supply chain – ET Telecom

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Mumbai: The Covid-19 pandemic will force more companies to adopt sustainable solutions faster, said Natarajan Chandrasekaran, chairman of Tata Consultancy Services (TCS), during its annual general meeting (AGM) on Thursday.

“Covid-19 has led to adoption of digital, it has been accelerated. A decade’s advantage has come in. Covid-19 is going to enforce sustainability in a big way. Companies will move towards adopting sustainable solutions faster,” Chandrasekaran told the shareholders of India’s largest software services exporter. “The global supply chain is being redesigned, not only in terms of just-in-time but also just-in-case, that is resilience, and these are all presenting significant opportunities to the company.”

The need for transformational initiatives, shift to digital channels, and a preference for contactless interactions have resulted in enterprises signing up for many technology initiatives, he said.

“The company (TCS) swiftly recovered to deliver a sharp growth trajectory over the next nine months after the initial lockdown-related disruptions, and exited the year on a very strong note, with an expanded market share, industry-leading profitability and an all-time high order book,” Chandrasekaran said.

If a shareholder had invested in one TCS share at the issue price of Rs 850 in its initial public offering in 2004, the value of that investment today—over a period of 17 years—would be close to Rs 28,000 crore, a return on investment of over 3,000%, he pointed out.

TCS CEO Rajesh Gopinathan, in his address to shareholders, said that in the past year customers have improved business resilience and “shifted significantly to digital channels and accelerated the shift to cloud”.

“TCS participated significantly across this opportunity landscape, recording a 17.1% growth in our total contracts won in the year, more than $31.6 billion in new contracts signed in the year FY21,” he added.

TCS’ total dividend payout was Rs 38 per share, including three interim dividends of Rs 23 per share. It paid Rs 33,873 crore through dividend and buyback in FY21.

TCS paid Rs 16,000 crore alone via a buyback. The company made a net addition of 40,185 staff, taking the total employee count to 488,000.



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