Consolidated Income & Expenditure Summary

Tata Consultancy Services Ltd.

Currency: Rs. Million (Non-Annualised)
Total income
Sales
Industrial sales
Income from non-financial services
Income from financial services
Interest income
Dividends
Income from treasury operations
Other income
Prior period and extra-ordinary income
Change in stock

Mar-08
12 mths

Mar-09
12 mths

Mar-10
12 mths

Mar-11
12 mths

Mar-12
12 mths

237,416.40
226,240.60
154.8
226,085.80
6,811.60
569.9
1,079.80
5,161.90
433.3
3,930.90

282,724.40
278,209.30
384.1
277,825.20
2,786.20
1,023.20
1,258.90
504.1
624.7
1,104.20

305,400.00
300,346.40
194
300,152.40
3,774.40
2,051.10
133.8
1,570.20
840.8
438.4

380,691.60
373,264.60

497,753.60
488,945.90

373,264.60
5,979.80
4,972.30
160.4
818.5
423.9
1,023.30

488,945.90
8,198.20
7,652.20
64.1
317.6
342.1
267.4

186,820.00
169,158.40

229,613.20
205,858.50

234,473.40
211,990.90

288,793.70
263,241.60

392,519.10
345,546.00

1,582.20
115,845.20
634.8

1,962.30
146,041.90
813.1

2,505.90
151,779.60
653.4

3,020.80
190,163.70
802.5

3,663.20
249,271.70
1,084.90

4,238.50
1,455.30
457.9

6,643.50
1,765.30
506

7,205.30
2,127.70
453.1

7,347.70
2,566.90
309.8

9,682.20
3,256.60
327.6

1,983.30

2,566.30

2,060.00

2,224.30

3,466.10

357.1
6,935.50
3,084.20
471.7
6,619.70

305.2
7,257.00
3,903.30
543.9
6,295.70

65.9
5,672.20
4,228.70
346.2
6,167.20

203.7
9,242.50
5,493.90
458.7
6,799.70

403.3
12,120.40
6,502.00
505.9
8,159.50

25,493.00

27,255.00

28,725.70

34,607.40

47,102.60

300.1

8,100.20

2,069.80

627.1

4,482.50

300.1
300.1

8,100.20
286.6

2,069.80
161

627.1
264.8

4,482.50
222.3

307

737.9

1,740.30

46.3

74.2

5,285.90
5,637.10

5,496.00
5,640.80

6,011.00
6,608.90

6,544.80
7,352.60

8,202.50
9,179.40

165.9
14.5
11,754.10

344.7
9,420.60

246.5
253.3
12,408.10

253.5
25.3
18,308.60

441.9
215.3
33,998.60

Profit after tax

Minority interest
Share in profit or loss in associate and jv

50,596.40
-344.2
8

53,111.20
-540
-7

70,926.60
-909.9
-10.3

91,897.90
-1,214.50
-3

105,234.50
-1,099.60

PBDITA
PBT

68,760.60
62,350.50

77,355.40
62,531.80

94,000.20
83,334.70

118,486.00
110,206.50

153,411.10
139,233.10

Total expenses
Operating expenses
Raw materials, stores & spares
Purchase of finished goods
Packaging and packing expenses
Power, fuel & water charges
Compensation to employees
Indirect taxes
Royalties, technical know-how fees, etc
Rent & lease rent
Repairs & maintenance
Insurance premium paid
Outsourced manufacturing jobs
Outsourced professional jobs
Directors' fees
Selling & distribution expenses
Travel expenses
Communications expenses
Printing & stationery expenses
Miscellaneous expenditure
Other operational exp of industrial ent
Other operational exp of non-fin services ent
Share of loss in other enterprises
Financial charges
Fee based financial services expenses
Fund based financial services expenses
Interest paid
Financial charges on instruments
Provisions
Non-cash charges
Depreciation
Amortisation
Write-offs
Prior period and extra-ordinary expenses
Provision for direct tax

Consolidated Executive Summary

Tata Consultancy Services Ltd.

Currency: Rs. Million (Non-Annualised)

Mar-08
12 mths

Mar-09
12 mths

Mar-10
12 mths

Mar-11
12 mths

Mar-12
12 mths

Total income
Sales
Income from financial services

237,416.40

282,724.40

305,400.00

380,691.60

497,753.60

226,240.60

278,209.30

300,346.40

373,264.60

488,945.90

6,811.60

2,786.20

3,774.40

5,979.80

8,198.20

186,820.00

229,613.20

234,473.40

288,793.70

392,519.10

Change in stock

Total expenses
Raw materials, stores & spares
Power, fuel & water charges

1,582.20

1,962.30

2,505.90

3,020.80

3,663.20

Compensation to employees

115,845.20

146,041.90

151,779.60

190,163.70

249,271.70

Indirect taxes

634.8

813.1

653.4

802.5

1,084.90

Selling & distribution expenses

357.1

305.2

65.9

203.7

403.3

Interest paid

300.1

286.6

161

264.8

222.3

Depreciation

5,637.10

5,640.80

6,608.90

7,352.60

9,179.40

PBDITA

68,760.60

77,355.40

94,000.20

118,486.00

153,411.10

PBDITA net of P&E&OI&FI

57,599.30

72,840.30

89,199.90

111,084.30

144,818.70

Profit after tax (PAT)

50,596.40

53,111.20

70,926.60

91,897.90

105,234.50

PAT net of P&E

46,680.00

52,007.00

70,741.50

90,899.90

105,182.40

176,919.00

228,638.60

277,939.80

329,351.20

416,189.70

124,128.50

158,771.70

187,284.30

248,629.80

300,380.00

978.6

978.6

1,957.20

1,957.20

1,957.20

121,022.60

155,021.50

181,710.00

242,090.90

292,835.10

107,304.20

122,800.00

152,437.90

213,192.20

261,966.70

4,550.20

5,638.80

1,032.50

748

1,265.50

45,834.40

61,369.60

87,320.10

77,674.70

111,500.30

176,919.00

228,638.60

277,939.80

329,351.20

416,189.70

Net fixed assets

39,345.50

67,455.40

67,380.30

74,790.90

86,620.60

Investments

26,061.60

16,144.10

36,820.80

17,626.70

13,503.30

Current assets

81,627.40

105,201.70

122,474.90

175,653.20

233,050.80

Loans & advances

19,740.20

31,609.10

38,795.40

47,535.90

65,681.50

Gross fixed assets

55,567.50

91,052.60

96,355.00

110,242.40

129,912.90

Total income

25.5

19.1

24.7

30.7

Total expenses

27.4

22.9

2.1

23.2

35.9

PBDITA net of P&E&OI&FI

11.2

26.5

22.5

24.5

30.4

9.8

11.4

36

28.5

15.7

37

27.9

18

32.8

20.8

33.7

29.2

21.6

18.5

26.4

Profits

Total liabilities
Net worth
Paid up equity capital
Reserves and funds
Tangible net worth
Borrowings
Current liabilities & provisions

Total assets

Growth (%)

PAT net of P&E

Net worth
Total assets

Profitability ratios
PBDITA net of P&E&OI&FI as % of sales

25.5

26.2

29.7

29.8

29.6

20

18.5

23.2

23.9

21.1

PAT net of P&E as % of net worth

43.5

36.8

40.9

41.7

38.3

PAT net of P&E as % of total assets excl reval

30.2

25.6

27.9

29.9

28.2

Quick ratio

1.773

1.736

1.514

2.509

2.287

Current ratio

1.663

1.623

1.449

2.322

2.127

PAT net of P&E as % of total income net of P&E

Liquidity ratios (times)

Debt to equity ratio

0.045

0.042

0.011

0.007

0.008

195.715

215.332

517.457

413.419

627.095

Debtors (days)

81.3

79.1

79

74.2

76.8

Creditors (days)

68.7

76.9

70.4

64.7

62.7

6.2

5.6

4.8

29.7

22.1

Total income / total assets

1.535

1.394

1.206

1.254

1.335

Total income / compensation to employees

2.049

1.936

2.012

2.002

1.997

Interest cover

Average cost of Funds (%)

Efficiency ratios (times)

Consolidated Cash Flow

Tata Consultancy Services Ltd.

Currency: Rs. Million (Non-Annualised)
Net cash flow from operating activities
Net profit before tax & extra-ordinary income
Add: Adjustments for non-cash and non-operating expenses
Depreciation
Amortisation and w offs
Unrealised foreign exchange loss
Provision for contingencies
Other provisions like RDD etc
Interest Paid
Loss on sale of investments
Loss on sale of assets
Share of minority interest
Other non-cash and non-operating expenses
Less: Adjustments for non-cash and non-operating income
Unrealised foreign exchange gain
Provision or liabilities written back
Interest income
Dividend income
Profit on sale of investments
Profit or loss on sale of assets
Contribution by minority interest
Other non-cash and non-operating income

Mar-08
12 mths

Mar-09
12 mths

38,948.80
58,459.50
6,498.10
5,637.10

12 mths

Mar-11
12 mths

54,085.60
61,500.70
6,710.70
5,640.80

72,123.70
82,896.30
9,236.70
6,608.90
214.3
473.2

66,060.70
110,206.20
7,942.50
7,352.60
260.6

783.3
286.6

1,740.30
161

46.3
264.8

39

18.2

3,792.80
37.7
2,051.10
133.8
1,570.20

7,467.70
493.5
1,023.00
4,972.30
160.4
818.5

253.9
307
300.1

Mar-10

1,827.60

3,878.90
1,019.60

569.9
1,079.80
157
20.9

1,023.20
1,258.90
504.1
73.1

Operating cash flow before working capital changes

63,130.00

64,332.50

88,340.20

110,681.00

Add:Cash inflow due to

Decrease in trade & other receivables
Decrease in inventories
Increase in trade & other payables
Increase in deposits
Decrease in advances
Increase in other current liabilities
Less: Cash outflow due to
Increase in trade & other receivables
Increase in inventories
Decrease in trade & other payables
Decrease in deposits (banks or fis)
Increase in advances (banks or fis)
Decrease in other current liabilities
Cash flow generated from operations
Cash outflow due to direct taxes paid
Cash inflow due to direct taxes refund
Cash outflow due to dividend tax paid
Cash flow before extraordinary items
Cash outflow due to extraordinary items
Cash inflow due to extraordinary items
Cash outflow due to misc expend

18,856.80

8,189.90

27,587.20

5,577.00

58.3
4,718.40

3,566.70
476.5
188.1
5,797.30

Net cash inflow from investing activities

Less: Cash outflow due to investing activities
Purchase of fixed assets
Increase in capital work in progress
Acquisition or merger of companies or units

5,577.00
18,099.00
8.3

5,285.50
10,062.20
8,189.90

6,461.90

5,569.40

115.8
5,685.20
27,536.90
50.3

749.5
49,850.20
10,901.40

66,204.80
12,119.20

3,566.70
91,235.40
19,073.10

88,779.00
22,635.20

38,948.80

54,085.60

38.6
72,123.70

83.1
66,060.70

-25,193.10
299,282.70
12,709.80

-34,467.40
342,145.00
11,473.00

-52,232.20
606,958.50
10,447.90

-14,615.40
538,066.10
18,266.10

1,549.00

24,431.40

103

Purchase of investments
Loans to subsi or group companies
Loans to other companies
Profit or (loss) on redemption of shares
Other income
Disbursements
Add: Cash inflow due to investing activities
Sale of fixed assets
Decrease in capital work in progress
Merger or hiving off of companies or units
Sale of Investments
Redemption of shares
Loans from subs or group companies
Loans from other companies
Interest received
Dividend received
Other income
disbursements

284,823.90

294,663.90

572,187.70

498,386.20

200

800

274,089.60
90.3

10,776.70
307,677.60
495

24,219.90

21,413.80

554,726.30
133

523,450.70
181.1

272,384.40

306,167.30

553,531.40

344.9
518,376.80

417.1
204
993.8

844.6
170.7

928.1
133.8

400
3,987.50
160.4

Net cash inflow or (outflow) from financing activities

-14,558.60
Less: Cash outflow due to financing activities
15,577.20
Issue expenses
Interest paid
261.2
Dividend paid
14,961.90
Repayment of borrowings
212.5
Repayment of long term liabilities
Repayment of short term liabilities
Cash (outflow) due to redemption or buyback of capital
Cash inflow or (outflow) due to other cash receipts or payables from financing activities
141.6
Add: Cash inflow from financing activities
1,018.60
Proceeds from share issue
1,018.60
Cash Subsidy
Proceeds from borrowings
Proceeds from long term borrowings
Proceeds from short term borrowings
Other cash receipts or payables from financing activities
Net increase or (decrease) in cash & cash equivalents
-802.9
Cash & bank - opening balance
11,477.60
Cash & bank - closing balance
10,674.70
Net increase or (decrease) in cash & cash equivalents(cl-op)
-802.9

-15,696.80
16,756.00

-24,243.20
24,783.40

-46,505.90
46,615.40

327.5
16,141.00
287.5

166.4
19,656.70
4,492.00

265
46,003.60
346.8
42.8
304

1,059.20
39.3
122

897.9
3,921.40
10,674.00
14,595.40
3,921.40

468.3
540.2
53.9

109.5
6.6

486.3

102.9
102.9

-4,351.70
14,595.40
10,243.70
-4,351.70

4,939.40
10,243.70
15,485.90
5,242.20

Mar-12
12 mths
69,970.00
139,233.10
10,465.20
9,179.40
653.7
332.1
74.2
222.3
3.5

8,301.30
267.4
7,652.20
64.1
317.6

141,397.00
48,032.00
50.5
13,397.90

3,954.10
17,402.50
48,032.00

110,767.50
40,684.00
113.5
69,970.00

-27,274.50
205,581.10
20,070.70

171,673.50
6,834.10
7,002.80
178,306.60
197.1

173,852.30

4,193.10
64.1

-39,437.40
39,534.50
223.7
38,969.30
341.5
12.5
329

97.1
97.1

3,258.10
15,485.90
19,934.90
4,449.00

RATIO ANALYSIS

Mar-08
Mar-09
Mar-10
12 mths
12 mths
12 mths

Currency: Rs. Million (Non-Annualised)

Operating Profit
Operating Profit Margin

63,123.50

71,714.60

87,391.30

0.28

0.26

0.29

Net Profit Margin

0.223639789 0.190903755 0.236149326

Interest Coverage

210.3415528 250.2254013 542.8031056

Debt/Equity

0.036657174 0.035515145 0.005513009

Inventory turnover ratio

ROE (Return on Capital Employed)
EPS (Earnings per Share)

11372.10

13212.70

33989.40

0.407613078 0.334513015 0.378710869

460.70

479.20

286.20

Quick Ratio

1.773

1.736

1.514

Current Ratio

1.663

1.623

1.449

25.5

26.2

29.7

20

18.5

23.2

PAT net of P&E as % of net worth

43.5

36.8

40.9

PAT net of P&E as % of total assets excl reval

30.2

25.6

27.9

PBDITA net of P&E&OI&FI as % of sales

PAT net of P&E as % of total income net of P&E

Mar-11
Mar-12
12 mths
12 mths

111,133.40

144,231.70

0.30

0.29

0.246200417 0.215227288
419.6880665 648.8155646
0.003008489 0.004212997
54516.60

93869.80

0.369617399 0.350337905
386.20

559.70

2.509

2.287

2.322

2.127

29.8

29.6

23.9

21.1

41.7

38.3

29.9

28.2