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I.
1.1.
INTRODUCTION
INTRODUCTION:
Established in 1968, Tata Consultancy Services a member of the Tata Group has grown to its
current position as the largest IT services firm in Asia based on its record of outstanding service,
collaborative partnerships, innovation, and corporate responsibility.
It was founded by Jamsetji Tata in 1848 and it is one of Indias most respected institutions today.
Their mission reflects the Tata Group's longstanding commitment to providing excellence. To
help customers achieve their business objectives by providing innovative, bestinclass
consulting, IT solutions and services, and to actively engage all stakeholders in a productive,
collaborative, and mutually beneficial relationship.
TCS' ability to deliver highquality services and solutions is unmatched. They are the worlds
first organization to achieve an enterprisewide Maturity Level 5 on both CMMI and PCMM,
using the most rigorous assessment methodology SCAMPISM. Additionally, TCS Integrated
Quality Management System (iQMS) integrates process, people and technology maturity through
various established frameworks and practices including IEEE, ISO 9001:2000, CMMI, SW
CMM, PCMM and 6Sigma.
It is largest IT employer in India. It provides services to wide range of segment like banking &
financial services, energy, resources & utilities, government, telecom, media & information
services, etc.
TCS acquired Citigroup Global Services (CGSL); India based BPO for $505 million. The
acquisition broadened TCSs portfolio of endtoend IT and BPO services in the global Banking
and Financial Services (BFS) sector. TCSs enhanced scale and expertise will be providing
service improvements to Citi and Citis customers. CGSL has more than 12,000 employees
located in India and expected to generate revenues of approximately $278 million in 2008.
Tata Consultancy Services delivers real results to global businesses, ensuring a level of certainty
no other firm can match TCS offers a consultingled, integrated portfolio of IT and ITenabled
services delivered through its unique Global Network Delivery Model, recognized as the
benchmark of excellence in software development. TCS has over 143,000 of the world's best
trained IT consultants in 42 countries.
Tata Consultancy Services announced the launch of TCS BaNCS Core Banking Release 12.0 at
the annual flagship event for banking and capital markets, SIBOS 2011, in Toronto.
In 2014 TCS announced to set up largest Corporate Learning Center in Thiruvananthapuram with
a capacity to train 50,000 IT professionals every year
1.2.
Technology Products
Other Products
TCS Cline2e
TCS Enterprise Integration and Control Environment Solution/ Energy and Utilities
Services:
IT Services
Application Management
System Integration
Testing
Performance Engineering
Infrastructure Services
IT Service Desk
Database Services
RFID
Call Management
Oracle
SAP
Consulting
Business Consulting
IT Consulting
Business Solutions
Reconciliations
Benefits Administration
Payroll
Industryspecific Offerings
Business Intelligence
Integration Services
Industryspecific Offerings
Achievements/ recognition:
In 2014 TCS was Honored by Lumity as the 2014 Community Corps Corporate
Champion
TCS is the only IT services organization to be a part of ISO 15926 real time
interoperability network grid (iRING) Version 1.0.0
They are the worlds first organization to achieve an enterprisewide Maturity Level 5 on
both CMMI and PCMM, using the most rigorous assessment methodology
SCAMPISM.
TCS Integrated Quality Management System (iQMS) integrates process, people and
technology maturity through various established frameworks and practices including IEEE,
ISO 9001:2000, CMMI, SWCMM, PCMM and 6Sigma.
TCS tops the DataQuest DQTop20 list of IT Services providers in India for 2008
TCS ranked among Top 25 in Business Week's 2007 Information Technology 100
TCS awarded top position in 2007 'Global Services' 100 Top 10 Best Performing IT
Services providers category
TCS was awarded the Business Process Outsourcing Service Provider 2011 at the Frost &
Sullivan Asia Pacific ICT Awards ceremony hosted in Singapore.
II.
III.
FINANCIAL RATIOS
Mar '15
Mar '14
Mar '13
Mar '12
Mar '11
1.00
1.00
1.00
1.00
1.00
--
--
--
--
--
124.99
128.41
92.17
73.75
57.11
483.21
417.67
321.83
249.81
190.70
--
--
--
--
--
79.59
79.59
79.65
79.65
79.65
25.86
30.74
28.63
29.52
29.94
23.17
28.52
26.43
27.40
27.53
23.96
29.09
26.92
27.64
27.97
21.83
24.78
23.61
23.19
26.16
21.83
24.78
23.61
23.19
26.16
20.97
23.42
22.09
21.29
24.29
20.28
22.96
21.68
21.11
23.90
50.87
51.44
46.67
46.96
44.95
39.20
38.89
36.05
35.25
37.11
38.64
39.23
36.46
35.62
37.61
258.51
251.16
196.94
150.62
124.69
258.51
251.16
196.94
150.62
124.69
51.06
51.58
46.77
46.96
45.01
Current Ratio
2.64
2.97
3.00
2.69
2.90
Quick Ratio
2.64
2.98
3.01
2.66
2.88
0.01
0.01
0.01
0.01
0.01
--
--
0.01
0.01
0.01
248.71
660.45
374.06
627.33
417.19
0.01
0.01
0.01
0.01
0.01
265.97
695.47
396.33
668.62
444.95
208.80
533.53
310.29
510.74
371.22
5,890.01
5,378.86
2,978.26
2,751.48
1,635.61
4.90
5.06
4.52
4.19
4.85
5,890.01
5,378.86
2,978.26
2,751.48
1,635.61
5.69
6.22
5.73
5.53
5.18
1.90
1.72
1.76
1.85
1.74
1.85
1.82
1.80
1.77
1.70
--
--
--
--
--
--
--
--
--
--
119.76
123.19
112.64
116.40
113.88
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
91.22
36.91
36.21
54.85
35.32
83.64
34.48
33.60
50.39
32.67
7.47
63.41
64.20
45.73
65.15
15.26
65.81
66.75
50.09
67.74
0.01
0.01
0.01
0.01
0.01
IV.
V.
The Company's Board of Directors is responsible for the matters stated in Section 134(5) of the
Companies Act, 2013 ('the Act') with respect to the preparation of these financial statements that
give a true and fair view of the financial position, financial performance and cash flows of the
Company in accordance with the accounting principles generally accepted in India, including the
Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies
(Accounts) Rules, 2014. This responsibility also includes maintenance of adequate accounting
records in accordance with the provisions of the Act for safeguarding the assets of the Company
and for preventing and detecting frauds and other irregularities; selection and application of
appropriate accounting policies; making judgments and estimates that are reasonable and
prudent; and design, implementation and maintenance of adequate internal financial controls,
that were operating effectively for ensuring the accuracy and completeness of the accounting
records, relevant to the preparation and presentation of these financial statements that give a true
and fair view and are free from material misstatement, whether due to fraud or error.
Auditors' Responsibility
Our responsibility is to express an opinion on these financial statements based on our audit.
We have taken into account the provisions of the Act, the accounting and auditing standards and
matters which are required to be included in the audit report under the provisions of the Act and
the Rules made thereunder.
We conducted our audit in accordance with the Standards on Auditing specified under Section
143(10) of the Act. Those Standards require that we comply with ethical requirements and plan
and perform the audit to obtain reasonable assurance about whether the financial statements are
free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and the
disclosures in the financial statements. The procedures selected depend on the auditor's
judgment, including the assessment of the risks of material misstatement of the financial
statements, whether due to fraud or error. In making those risk assessments, the auditor considers
internal financial control relevant to the Company's preparation of the financial statements that
give a true and fair view in order to design audit procedures that are appropriate in the
circumstances, but not for the purpose of expressing an opinion on whether the Company has in
place an adequate internal financial controls system over financial reporting and the operating
effectiveness of such controls. An audit also includes evaluating the appropriateness of the
accounting policies used and the reasonableness of the accounting estimates made by the
Company's Board of Directors, as well as evaluating the overall presentation of the financial
statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a
basis for our audit opinion on the financial statements.
Opinion
In our opinion and to the best of our information and according to the explanations given to us,
the aforesaid financial statements give the information required by the Act in the manner so
required and give a true and fair view in conformity with the accounting principles generally
accepted in India, of the state of affairs of the Company as at March 31, 2015, and its profit and
its cash flows for the year ended on that date.
a) As required by the Companies (Auditor's Report) Order, 2015 ('the Order') issued by the
Central Government in terms of Section 143(11) of the Act, we give in the Annexure a
statement on the matters specified in paragraphs 3 and 4 of the Order.
b) As required by Section 143(3) of the Act, we report that:
i) We have sought and obtained all the information and explanations which to the best
of our knowledge and belief were necessary for the purposes of our audit.
ii) In our opinion, proper books of account as required by law have been kept by the
Company so far as it appears from our examination of those books.
iii) The Balance Sheet, the Statement of Profit and Loss, and the Cash Flow Statement
dealt with by this Report are in agreement with the books of account.
iv) In our opinion, the aforesaid financial statements comply with the Accounting
Standards specified under Section 133 of the Act, read with Rule 7 of the Companies
(Accounts) Rules, 2014.
v) On the basis of the written representations received from the Directors as on March
31, 2015, taken on record by the Board of Directors, none of the Directors is
disqualified as on March 31, 2015 from being appointed as a Director in terms of
Section 164 (2) of the Act.
vi) With respect to the other matters to be included in the Auditors' Report in accordance
with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, in our opinion and
to the best of our information and according to the explanations given to us:
(1) The Company has disclosed the impact of pending litigations on its financial
position in its financial statements as of March 31, 2015;
(2) The Company has made provision in its financial statements, as required under
the applicable law or accounting standards, for material foreseeable losses on long
term contracts;
(3) There has been no delay in transferring amounts, required to be transferred, to the
Investor Education and Protection Fund by the Company.
P. R. RAMESH
Partner
(Membership No. 70928)
Mumbai, April 16, 2015
VI.
CONCLUSION
TCS is a very strong company in India and among its competitors in the World too. It also had
the highest market capitalization on the Bombay Stock Exchange making it Indias most valuable
company. The ratios and the key highlights about its financials reflect its strong position in the
market.
It is noted that the Audit Report made by Tata Consultancy Services very well complies with the
requirements laid down by the Companies Act, 2013 as well as the Standards on Auditing laid
down by the Institute of Chartered Accountants of India. Also, the reporting responsibilities
under the newly modified Companies (Auditors Report) Order, 2015 (CARO, 2015) has been
very well complied by Tata Consultancy Services.
Considering its size of operations and reputation in the industry, and also the IT Industry boost
that India is experiencing currently, Tata Consultancy Services leaves no margin for error when
audit is considered. There are no discrepancies noticed by Deloitte Haskins and Sells LLP, who
are the auditors of TCS and hence they have issued a clean audit report without any major
observations.
Considering all above facts and figures, TCS has maintained a very strong position in India and
globally as well.
VII.
BIBLIOGRAPHY
http://www.tcs.com/investors/financial_info/Pages/default.aspx
http://resource.cdn.icai.org/35921aasb-illus25437a.pdf
http://www.tcs.com/about/Pages/default.aspx
http://resource.cdn.icai.org/37520aasb27034-cfs-co.pdf
http://taxguru.in/company-law/download-caro-2015-audit-report-word-format.html
https://en.wikipedia.org/wiki/Tata_Consultancy_Services
http://www.business-standard.com/company/tcs-5400/annual-report/auditors-report
TCS Annual Report 2014-2015
http://www.tcs.com/investors/Documents/Presentations/TCS_Factsheet_Q4_15.PDF