FY15 Will Bring Greater Growth Opportunities: TCS

Country's largest software services exporter TCS Friday said it remains confident of FY'15 bringing greater growth opportunities on the back of improved economic climate in the country and overseas.

"TCS delivered a growth of 16 percent in dollar terms and 30 percent in rupee terms in FY14 while the industry grew by 8.8 percent in the same period".

"As the revitalisation of the global economy continued this year, TCS remains confident that this fiscal will bring greater growth opportunities," Tata Consultancy Services (TCS) Chairman Cyrus Mistry told shareholders at the company's 19th Annual General Meeting here.

New service lines are growing at a faster pace, he said, adding that consulting services, digital and engineering services are showing a traction.

The company is working on projects of e-governance, which can help in checking corruption, Mistry said.

"TCS is involved in a number of e-governance projects in India and abroad. They can help curb corruption," he told shareholders here.

He added that the city-headquartered firm will take up the issue of setting up new research and development (R&D) centres when the business requirement happens.

Five forces of new technology -- mobility, big data, social media, cloud computing and robotics -- will rapidly change the world, he said.

"The ongoing investment of the company in these recent trends will enable us to play an impactful role in the technology revolution," Mistry said.

TCS considers countries like Latin America, Middle East, and Asia-Pacific region as the growth markets for it, he said.

On the inorganic growth prospects of the company, Mistry said acquisitions will depend on independent requirements in new geographies, adding that Alti SA acquisition will help the company expand significantly in France.

In April last year TCS announced acquisition of France- based enterprise solutions provider Alti SA for 75 million euros (about Rs 533 crore at that time) in an all-cash deal to help transform TCS into a major player in France -- the third-largest IT services market in Europe.

Mistry informed shareholders that TCS board recommended a final dividend of Rs 20 per share taking total dividend for FY14 to Rs 32 per share (Rs 22 last year).

Mistry, who is also Chairman of the over USD 100-billion Tata Group, said the company is looking into the appointment of a woman director on its board.

On appointment of woman director, he said: "The nomination committee is looking into the appointment of a lady director."

The Companies Act, 2013, which came into effect in April, 2014, prescribes that every listed firm and every public company with a paid-up share capital of Rs 100 crore and above or turnover of Rs 300 crore and above should appoint at least one woman director.


Read more about: tcs, e governance
Story first published: Saturday, June 28, 2014, 12:44 [IST]
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