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TCS worth $100 billion: First Indian IT company to touch this value

24 April, 2018, 03:30 | Author: Samuel Sharp
  • TCS contributes around 85% of the Tata group’s profit

The share of the company opened to 3429 and crossed the intra-day all-time high.

TCS' creating history as the first Indian IT major to hit the coveted Dollars 100 billion market cap is a result of consistent value creation and is poised to leverage the global digital opportunity, Tata Sons Chairman N Chandrasekaran said today.

"Though the number one company Apple - with a marketcap of $840 billion - is much ahead of TCS, India has reasons to be proud of TCS".

TCS, Tata Consultancy Services the countries largest exporter of the software services, has made a decision to create history. "However, even with growth acceleration in FY19, we expect earnings CAGR of around 10-11%", said Credit Suisse in note dated April 19.

By the end of 2009, the IT top gun had the same m-cap as Infy's.

Interestingly, TCS' market-cap is about 25 per cent more than the capital invested in the Pakistan Stock Exchange. At 10:30 am, the stock was trading 4.07% or 138 points higher at Rs 3,545 level.

TCS claims that Digital, the fuzzy umbrella term which each company uses to classify revenue generated from areas generally classified as social, mobile, analytics, cloud computing and Internet of Things, grew 43% in constant currency terms to $4.5 billion or about 24% of company's overall revenue.

"Delivering a superior, personalized experience to customers across a multitude of channels is an imperative for any enterprise seeking to differentiate itself in a Business 4.0 world", said Sunil Karkera, Global Head - TCS Interactive.

"Growth outlook for TCS is in double digits over the next two years and that stands out when compared to its peers", Shah said.

With the rise of automation, mobile, AI, and cloud computing, TCS, which today generates almost United States dollars 167 billion of revenue yearly, is undergoing a transition phase and facing cut-throat competition.

TCS posted a 4.4% growth in net profit year-on-year at Rs 6,904 crore (a little more than $1 billion), while its revenue was up 8.2% to Rs 32,075 crore in the March 2018 quarter.

It also announced a 1:1 bonus of shares and a dividend of Rs 29 a share, taking the total payout to shareholders at Rs 50 for the year.

TCS does not give quarterly or annual forecasts but the management reaffirmed its optimism (first outlined in January) of the company clocking double-digit growth in the current financial year.

TCS was listed in 2004 and gradually scaled up the ladder to become the country's largest software services company.



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