OREANDA-NEWS. Tata Consultancy Services (TCS), a leading IT services, consulting and business solutions firm, reported its consolidated financial results according to IFRS for the quarter and financial year ended March 31, 2013.

Commenting on the 2012-13 performance, N Chandrasekaran, CEO and MD, said, “TCS has delivered a year of strong growth with all markets and industry segments growing in double digits. Our ability to co-create with customers, remain relevant to their business and our investments in digital technologies are delivering tangible value as customers optimise, transform and grow.”

Looking ahead to FY14, Mr Chandrasekaran said, “We remain confident that 2013-14 will bring greater opportunities as technology plays an increasing role in re-imagining business globally. We continue to identify new growth engines and are investing ahead of the curve in products, platforms, and intellectual property that is of great relevance to our customers and their business growth.” He further added, “As an industry leader, we remain focused on sustaining our momentum.”

Rajesh Gopinathan, chief financial officer, said, “Our growth has been well-rounded in 2012-13 and we have endeavoured to maintain our profitability despite stiff headwinds and increased volatility through the year. We continue to ensure cost discipline at an operational level while supporting diversified business growth.”

For TCS, there was balanced growth across markets and industries during the financial year. North America grew by 27 percent, while the UK grew by 44 percent and Europe grew by 21 percent. Among growth markets, Latin America grew by 40 percent, Asia Pacific grew by 27 percent, India by 16 percent and Middle East and Africa by 28 percent. All industry verticals grew in double digits during FY13. TCS’s full services capabilities continue to be leveraged by customers with new service lines growing at a fast pace — infrastructure services grew by 47 percent and business process outsourcing grew by 46 percent while assurance services, enterprise solutions, and global consulting grew by 33 percent, 25 percent and 52 percent respectively.

Key wins in Q4

Awarded a large transformational outsourcing deal to drive innovation, operational efficiency and building of new business capabilities for a leading European telecom handset manufacturer.

Selected by a North American retailer as a strategic partner for their ADM and infrastructure support.

Selected as a strategic partner by a leading European post and parcels company in its multi-million dollar enterprise IT transformation programme aimed to bring in accelerated new technology adoption while increasing operational efficiency.

Engaged by a large global bank to provide ADM services across multiple domains for their international business.

Selected to provide operations support services to one of the leading mortgage service providers and lenders in the US.

TCS BaNCS Core Banking was selected by a well known North American bank and its subsidiaries.

Awarded a multi-year, multi-million application maintenance and support and infrastructure services contract by a Europe based global semiconductor company.

Awarded multi-million dollar contract by a market leader in diagnostic insights and innovation for its strategic initiative to improve IT effectiveness and efficiency.

Selected by a European worldwide provider of molecular sample and assay technologies as a strategic partner for their full IT outsourcing programme.

TCS has entered into an agreement with a state government in North America to customise, implement and support unemployment insurance that will allow the state to modernise and streamline its processes and business.

Selected by a British multinational insurance company to provide application development, maintenance and assurance services across multiple lines of business.

Human resources

“We have added, trained and integrated over 69,000 professionals during 2012-13. With business demand continuing to be robust, we have made almost 25,000 fresh offers on engineering campuses for trainees who will join us from the second quarter of this fiscal year,” said Ajoy Mukherjee, executive vice president, head, global human resources. “Our efforts to increase retention by engaging with our employees and offering them a progressive career path are paying dividends with IT attrition rates falling further to below 10 percent.”

High utilisation rates have been maintained in the fourth quarter with utilisation excluding trainees at 82 percent, while utilisation including trainees was at 72.2 percent. The overall attrition rate was lower at 10.57 percent with IT attrition at a low of 9.4 percent and BPO attrition falling below 20 percent threshold to 19.5 percent on a LTM basis.

The average age of a TCS employee is 28 years while 32.4 percent of the workforce comprised women with representation from 118 nationalities.

Innovation and intellectual property

As of March 31, 2013, the company has applied for 1,280 patents, including 192 applied during the quarter. Till date, the company has been granted 81 patents.

Awards and recognition

TCS was awarded the Business Standard Company of the Year award. The company won the Institute of Chartered Accountants of India (ICAI) Gold Shield award for excellence in financial reporting. The company was inducted into the Medici Innovation Hall of Fame. The TCS legal team won the Best In-house Legal Team of the Year in IT and Telecommunications Industry award.

TCS won several awards at World HRD Congress' annual meet, including the Recruiting and Staffing Industry Leader of the Year and Best Employer Brand. TCS won the five awards under RASBIC, including Best Overall Recruiting and Staffing Organisation of the Year (fourth year in a row), Best Use of Technology for Recruiting (sixth year in a row), Innovation in Recruitment, Best Employee Referral Programme, and Recruiting and Staffing Industry Leader of the Year (sixth year in a row).

TCS also won several HR awards globally. TCS China was awarded Excellence in HR Management 2012, TCS HR in Chile received an award for HR Best Practices in Training. TCS was also rated as a Top Employer in Belgium, Netherlands, Germany and Switzerland. The company was also named as the No 1 Top Employer in Europe. TCS Ecuador's HR won two awards. TCS RMG was conferred the Global HR Excellence Award for Continuous Innovation in HR Strategy at Work.

The company was recognised at the PR News CSR Awards in North America. TCS won at the BPO Excellence Awards 2013. The company received the Software Partner of the Year for EMEA award from HP. It also won the IT Innovation Award from NASSCOM-CNBC TV18. Other awards that TCS received included the MAKE award at CII Knowledge Management Summit, TheKnowList Award for Outstanding Achievement, and Best Performing Consultancy Brand award in Europe.