TCS Set To Touch $100 Billion Market Capitalization Mark

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    Tata Consultancy Services, an IT Services, Consulting and Business solutions organization, is on the brink to touch the $100 billion market capitalization mark.

    TCS Set To Touch $100 Billion Market Capitalization Mark
     

    The stocks of TCS on Friday, rose to as much as 6.76% an increase of around Rs 215.75 to hit a lifetime high of Rs 3,406.40 after the company reported positive reports for the fiscal 2018 and the fourth quarter of 2018.

    The company recorded revenue of Rs 32,075 crore for Q4 2018, up by 3.8% quarter-on-quarter basis and Rs 1,23,104 crore for fiscal 2018, up by 4.4%. The operating income for fiscal 2018 at Rs 30,502 crore; the operating margin stands at 24.8% and EPS is Rs 134.19.

    For the fourth quarter of 2018, the company recorded operating income of Rs 8,147 crore; operating margin stands at 25.4% and EPS is Rs 36.07.

    Apart from this, the Board of Directors of TCS recommended 1:1 bonus share issue and also recommends a final dividend of Rs 29 per equity share.

    Commenting on the Q4 performance, Rajesh Gopinathan, CEO, and MD said: "Strong demand in digital across all industry verticals and large transformational deal wins have made this one of our best fourth quarters In recent years. The strong exit allows us to start the new fiscal on a confident note.

    Mr. Gopinathan added: "As customers move forward in their Business 4.0 journeys, TCS is helping them leverage digital technologies to drive their growth and transformation agendas. The multiple mega-deals that we won this year are evidence that TCS is their preferred partner in such strategically important initiatives. By pioneering methodologies like the Machine First Delivery Model (MFDM) and Location Independent Agile, we are upholding the spirit of innovation and leading change that has been a hallmark of TCS' fifty-year history."

    The company has been swift in adapting itself to the changing business environment. "Our full-year growth has been lower than it has been in the recent past but our Q4 growth gives us optimism that we are back on to double-digit growth," said CEO Rajesh Gopinathan.

     

    N. Ganapathy Subramaniam, Chief Operating Officer & Executive Director, said: "We are executing on our Business 4.0 strategy and that is paying off very well. Our participation in our customers' digital spending is expanding ahead of the industry. Six of our industry verticals grew above the company overage in FY 18, four of them growing double digits. Strong deal wins and a good pipeline positions us very well in the new fiscal.

    V. Ramakrishnan, Chief Financial Officer, said: "Disciplined execution delivered an all-time high cash conversion in Q4. We stayed geared for higher growth and continued to invest in our people and in the business. With revenue growth improving, and our digital business scaling up, we expect our margins to remain in a stable range."

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