Tata Consultancy Svcs

Earnings Update | TCS: Reports Decent Earnings

Equity Bottom-Up
158 Views, 13 Jan 2022 10:33
EXECUTIVE SUMMARY
  • TCS reported a healthy revenue growth of 15.4% YoY in constant currency (CC) terms. Operating margins contracted by -60bp to 25%, due to supply-side challenges. 
  • LTM attrition for TCS was 15.4%, best in the industry. However, on an absolute basis, it is high and TCS is continuously working on stabilizing it.  
  • Growth has been broad-based across sectors and the demand outlook remains robust on the back of strong spends by corporates on digital transformation and adoption of cloud.
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Ankit Agrawal, CFA
Equity L/S Analyst | Forensic Accounting | India
Yellowstone Equity
IndiaEquity Bottom-UpForensic Accounting

I possess investment research experience across asset classes and geographies, acquired at Investcorp (New York) and How... 

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