Q3 Revenue at
All Industry Verticals Grow Mid- to High Teens
North America Continues to Lead, +18% YoY CC
Client Metrics Shine: 10 new clients in
Women in the Workforce Cross the 200,000 Mark; +68% Growth in Number of Senior Women Executives during 2016-21
Board Announces Buyback Valued at ?18,000 Cr at ?4,500 per Share
Highlights of the Quarter Ended
Revenue at
Industry-Leading Operating Margin at 25%; -1.6% YoY
Net Income at
Strong Client Addition: 10 New $100Mn+ Clients (total: 58); 21 new $50Mn+ clients (total: 118)
Net headcount addition of 28,238 |Workforce strength: 556,986
Diverse and Inclusive: Women Employees Exceed 200,000; +68% growth in number of senior women executives during 2016-21 | 156 Nationalities in the workforce
Building a G&T workforce: 100K+ market relevant skills gained in Q3 | 38K+ Contextual Masters identified
LTM IT Services attrition rate at 15.3%; lowest in the industry
Board recommends a buyback of shares to the tune of ?18,000 Cr at ?4,500 per share
Dividend per share: ?7.00 | Record date
N Ganapathy Subramaniam, Chief Operating Officer & Executive Director, said: 'We continued our focus on growing organically and on developing the talent, methodologies, and toolkits for an ever-evolving technology landscape. This, coupled with our contextual knowledge and the passion and commitment of thousands of TCSers enabled us to deliver cutting-edge solutions during the quarter, and help our clients realize speed to value. We are also delighted to cross another important milestone in our journey, hitting the
Q3 Segment Highlights**
Industries: All verticals grew in the mid to high teens. Growth was led by Retail and CPG (20.4%), BFSI (+17.9%) and the Manufacturing vertical (+18.3%). Technology & Services grew +17.7%, Life Sciences and Healthcare grew +16.3% and Communications & Media grew +14.4%.
Markets: Among major markets, growth was led by
Services: Q3 witnessed a clear trend of enterprises investing confidently in technology initiatives for longer term growth. There was broad-based growth across all services, led by Cloud, Cyber Security, Consulting & Services Integration and IoT & Digital Engineering.
Consulting & Services Integration: C&SI continues focus on growth & transformation initiatives for clients with proactive propositions combining TCS contextual knowledge, technology & domain expertise integrating multiple services across our practices. Cloud Strategy & Transformation, Customer Experience, Finance & Shared Services transformation led growth in the quarter.
Cloud Platform Services: Accelerated cloud adoption by enterprises drove growth in application transformation, IT landscape modernization, shift to hybrid cloud, and data modernization on cloud. TCS won the AWS 2021 Rising Star Partner of the Year (GSI, for
Digital Transformation Services: Key G&T themes which saw traction in Q3 include connected enterprise, product innovation, customer experience transformation and security services. Engineering and IoT services are enabling customers to gain complete traceability of products across the value chain, manage assets, innovate products, re-design plants and improve predictability & operational efficiency. This drove growth in Intelligent devices, GIS and Plant Solutions & Services. IoT, Engineering and Analytics services are also helping customers in their sustainability journey, a critical business priority. We are enabling clients on their digital ERP journey leveraging TCS Crystallus to empower enterprise digital transformation and drive business value. Oracle Cloud and Niche SaaS transformations led growth this quarter. TCS' Cyber Defence Suite and globally distributed Threat Management Centers steered growth during the quarter with agile, localized, regulatory compliant security services across ransomware protection, cloud security and managed security services with strong market resonance.
Cognitive Business Operations: Demand was propelled by customers seeking to outsource IT and business operations to drive business agility, operational resilience, and cost efficiency. Growth in Q3 was led by Enterprise BPS, Infrastructure transformation and automation services. MFDM and Cognix continue to demonstrate strong market relevance and deliver customer delight.
** Year on Year Growth in Constant Currency terms
Research and Innovation
As on
Human Resources
TCS crossed a new milestone in its diversity journey in Q3, with the number of women in its workforce crossing 200,000. The company added 28,238 employees on a net basis, taking the total number of employees to 556,986 as on
The company continued to invest in organic talent development. Over 100,000 market-relevant deep skills were gained by TCSers in Q3. 32.3% of open positions were fulfilled through up-skilling/cross-skilling. Over 38,000 Contextual Masters identified across the organization represent a large, internally groomed cadre of specialists powering the company's expanding foray into the growth and transformation opportunity.
Sustained investment in organic talent development, progressive workplace policies and a vibrant culture that empowers individuals and fosters creativity, have resulted in a long-term track record for best-in-class talent retention. IT Services attrition rate (LTM) in Q3 was 15.3%.
'The ability to attract and retain top quality talent across the world has been central to TCS' business success and a source of competitive differentiation. We continue to set new records in talent acquisition. In addition to the 43,000 freshers we hired in H1, we onboarded 34,000 fresh graduates in Q3 - which is higher than our full year fresher hiring numbers in prior years. On the talent retention side, we continue to be the industry benchmark. By continuing to invest in our people, giving preference to internal candidates for the most exciting open positions, providing global deployment opportunities, fast track career paths linked to learning, and promotions to over 110,000 employees, we have been able to retain our best talent and overcome supply side challenges,' said
Awards and Recognition
Business Leadership:
Named a
Recognized as a Superbrand in
Awarded two Diamond awards at the 2021 ITSMA Marketing Excellence Awards in the categories - Embedding ABM Programs and Orchestrating Executive Engagement.
Won 3 awards at the 2021 LinkedIn Talent Awards India in the categories: Best Employer Brand on LinkedIn, Best Culture of Learning, and Diversity Champion
Won 5 awards at the
Won the
Won the 2021 Economic
Innovation and IP:
Recognized for Best Patents Portfolio in the Large Enterprise category at the
Won the 2021 ASSOCHAM IP Excellence Award for pioneering efforts in facilitating innovations and creating a healthy intellectual property (IP) ecosystem.
Awarded the Enterprise Blockchain Award 2021 by the
Won two awards at the IoT Global Awards 2021: for TCS DigiFleet in the Automotive, Transport and Travel category and for
TCS ADD Regulatory platform won the India Pharma Awards 2021 in the category of Excellence in Ancillary Pharma Services.
Two TCS-built solutions featured in the 2021 ISG Digital Digital Case Study Awards: TCS' Digital Twin Platform for
Won 2 Silver Awards at the 2021 Brandon Hall Group Excellence in Technology Awards in the categories Best Advance for Leading Under a Crisis (TCS Vaccination Solution) and Best Advance in Time and Labor Management (TCS Timesheet App)
Partner:
TCS won the following awards from technology alliance partners:
Application Transformation and Migration Partner of the Year at the AWS Partner Awards in
IFS Solutions Partner of the Year and IFS Services Partner of the Year (Enterprise Category) at the 2021 IFS Partner of the Year Awards
BMC Partner of the Year Award - Cognitive Automation at the BMC Service Provider eXchange (SPeX).
2021 Partner of The Year Award by Smart Message
Strong Growth - Identity and Access Management Partner of the Year 2021 by CyberRes, a
Solutions implemented by TCS for SAIL and Trent won the SAP ACE Awards 2021 in the Manufacturing Transformation and Game Changer categories respectively.
Top Performing - GSI Partner and Game Changer - Enterprise Business category in
About
A part of the Tata group,
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