Revenue at $6,877 million| Growth of 8.6% YoY, +15.4% in CCNorth America (+19.1% CC), Retail (+25.1% CC) lead among segments.
Growth broad-based across verticals, led by Retail (+22.9% CC) and CMI (+18.7% CC
Major markets shine:
Operating Margin at 24%;
Highlights of the Quarter Ended
Revenue at
Order Book at
Operating Margin at 24%; contraction of 1.6% YoY
Net Income at
Net headcount addition of 9,840 |Workforce strength: 616,171
Diverse and inclusive workplace: Women in the workforce: 35.7% | 157 Nationalities
Building a G&T workforce: 11.7 million learning hours clocked | 1.5 million competencies acquired
LTM IT Services attrition rate at 21.5%
Dividend per share: ' 8.00 | Record date
N Ganapathy Subramaniam, Chief Operating Officer and Executive Director, said: 'This was another quarter of excellent execution that saw us delivering several transformational projects like the largest migration of 2.3 million policies to our
Q2 Segment Highlights**
Industries: Growth was led by Retail and CPG (22.9%), Communications & Media (+18.7%), and Technology & Services (+15.9%). Manufacturing as well as Life Sciences & Healthcare verticals grew +14.5%, while BFSI grew +13.1%.
Markets: Among major markets,
Services: There was strong, broad-based growth for all services in Q2, led by Cloud, Enterprise Application Services, and Cyber Security.
Consulting & Services Integration: We continue to be the thought leaders for clients for programs of high strategic relevance. Growth for the quarter was led by M&A, cloud strategy and transformation, and enterprise agility consulting services.
Cloud Platform Services: Demand for cloud modernization services continued across all hyperscaler cloud services to drive scalability, reliability, and business transformations in all industry verticals. Hybrid cloud strategy continues to be the preferred approach for most enterprises, as it offers the right balance across the IT and business spectrum.
Digital Transformation Services: Cloud ERP, customer experience, connected services and managed security are the themes that drove the growth in Q2. There was strong traction across areas like intelligent products, software defined vehicles, connected services, sustainability and energy transition. TCS Neural Manufacturing solutions are being adopted by customers in their 'Factory of the Future' initiatives. Demand for cybersecurity services continued to be robust as clients focus on protecting critical infrastructure; there is greater adoption of TCS Cyber Defence Suite for operations, monitoring, GRC and reporting. There was strong demand for cloud ERP transformation and M&A integration leveraging TCS Enterprise Navigator consulting-led transformation framework and preconfigured industry solutions built on TCS Crystallus. There was also increased cloud adoption across sales & service channels, supply chain, human capital, and analytics to drive business value by transforming the customer experience and providing better insights and decisioning.
Cognitive Business Operations: There were multiple large deal wins for digital transformation of operations in data center and network, digital workspace, and customer experience. TCS' deep domain and contextual knowledge coupled with differentiated value propositions underpinned by MFDM, ignio and Cognix are helping capture opportunities. Areas which saw most growth in Q2 include digital F&A, agile supply chain and human capital management services.
** Year on Year Growth in Constant Currency terms
Key Highlights
Sainsbury's, a leading supermarket retailer in
Selected by PostNord, a European postal services company, as the strategic partner to transform and manage critical business applications. TCS engagement scope includes Agile development, Cloud ERP/CRM, Datacenter services, and Network services.
Selected by
Selected by
Selected by
A leading oil and gas MNC, has renewed its partnership with TCS for business transformation and generating value through digital technologies. TCS will help reimagine and transform the organization's workplace thereby improving digital experience for its workforce across 70+ countries. TCS will also leverage its products and solutions like ignio for neural automation and Digilocker to help modernise operations and support the delivery of their long-term strategy..
Chosen by a
Selected by a leading European pharmaceuticals manufacturer to provide quality and compliance services globally, and drive digital transformation. TCS will leverage agile practices, automation controls and processes for accelerating product development.
Chosen by a
Selected by a
Selected by a European healthcare equipment manufacturer for building a digital core leveraging a leading ERP solution on a hyperscaler platform to enable a standardized scalable business model for its carved-out entity. The new platform will create capability for growth and expansion into new markets.
Boots, a leading health and beauty retailer and pharmacy chain, selects TCS to reimagine its supplier funding - to automate, redefine, simplify and standardize supplier promotion funding processes. The scope includes blueprinting and development of a supplier funding application to enable and improve supplier promotion funding set up and approval process.
A large
Customer Speak
'In our first year of partnership, TCS' Cognitive Business Operations and our
'TCS has been a valuable partner in delivering a transformed platform to drive our integrated enterprise growth strategy,' said. 'We look forward to strengthening our relationship with TCS as we adopt cloud and enable continuous innovation to become a digital-first healthcare enterprise.'
'TCS' transformation readiness-led approach helped us prepare, plan and successfully deliver our HR transformation programme and improve the employee experience. TCS has a deep understanding of M&S's business, and this helped us to meet the business objectives of our HR transformation,' said
'TCS' Cognitive Business Operations (CBO) has helped
'TCS is a key enabler in supporting
Research and Innovation
As on
Human Resources
TCS' workforce was at 616,171 as on
TCS has been meeting demand for services around new technologies by continually investing in organic talent development. In Q2, TCSers clocked 11.7 million learning hours, resulting in the acquisition of 1.5 million competencies.
IT services attrition was 21.5% on the last twelve months' basis. With normalizing wage expectations and talent supply catching up across the industry, the company expects attrition to start to taper down in H2.
Awards and Recognition
Business Leadership:
TCS brand ranked #4 overall and #1 among all technology firms in the 2022 FutureBrand Index for innovation, good customer service, contented workforce and strong management.
Ranked as the most valuable Indian brand by
Recognized with the 2021 Best Practices Company of the Year Award for its visionary innovation, market-leading performance, and unmatched customer impact in the GCC's Business Process Outsourcing Industry by
Won the CXO Tech Innovation Award for digital innovation in smart collaboration at the CXO Tech Awards 2022.
Won 32 Brandon Hall awards (21 Golds, 7 Silvers and 4 Bronzes) and 13 Stevie awards (5 Golds, 5 Silvers and 3 Bronzes) across various functions in HR.
Won 4 Golds and 1 Silver at the ET HR Future Skills awards for best learning teams.
Recognized among the Most Preferred Workplaces 2022 by Team Marksmen in collaboration with India Today Television.
Innovation and IP
Quartz recognized as an Industry Special Leader and ranked #1 Fraud Management solution in the IBS Intelligence Sales
TCS BaNCS ranked # 1 in the Investment and Fund Management category for the third consecutive year, and #2 in the InsurTech category in the IBS Intelligence Sales
TCS products and solutions won 2 Gold, 3 Silver and 1 Bronze Stevies at the Stevie International Business Awards 2022: 1 Gold in the Project Management Solution category for TCS Allocation Reimagination, 1 Gold in the Software Defined Infrastructure category for TCS Infrastructure as Code; 2 Silvers in the Artificial Intelligence/ Machine Learning Solution category for TCS Optumera and TCS OmniStore; 1 Silver Stevie in the Event Management Solution category for TCS Prime Events and 1 Bronze in the Collaboration/Social Networking Solution category for TCS Enterprise Social Collaboration.
Partner
Named APJ Global System Integrator Partner of the year 2021 at
Named to the Microsoft Business Applications 2022/
Won the Consulting Partner award in Manufacturing and Energy at the
Won the GSI Partner of the Year award at the AWS Summit,
Industry Analyst Assessments
TCS was ranked a Leader in 42 competitive assessments published by leading research firms in Q2. In 5 of these, marked with an asterisk in the table below, TCS was positioned the foremost leader or ranked #1.
Firm
Report Type
Title
TechMarketView
Ranking Report
FSV Suppliers, Trends and Forecasts 2022-2025*
Gartner
Magic Quadrant
Magic Quadrant for Public Cloud IT Transformation Services
Everest
PEAK Matrix
Multi-cloud Application Development Services PEAK Matrix Assessment 2022*
IDC
MarketScape
IDC MarketScape: Worldwide Industry Cloud Professional Services 2022 Vendor Assessment
Everest
PEAK Matrix
System Integration (SI) Capabilities on
Everest
PEAK Matrix
System Integration (SI) Capabilities on Microsoft Azure PEAK Matrix Assessment 2022
ISG
ISG Provider Lens Google Cloud Partner Ecosystem*
NEAT
End-to-End Cloud Infrastructure Management Services 2022*
ISG
ISG Provider Lens Next-Gen Private Hybrid Cloud - Data Center Solutions & Services
IDC
MarketScape
IDC MarketScape: Worldwide Managed Cloud Security Services in the Multicloud Era 2022 Vendor Assessment
HFS
Top 10
HFS Top 10: Cybersecurity Service Providers, 2022
Everest
PEAK Matrix
IT Security Services PEAK Matrix Assessment 2022 -
Everest
PEAK Matrix
IT Security Services PEAK Matrix Assessment 2022 -
ISG
ISG Provider Lens Cybersecurity - Solutions and Services
IDC
Ranking Report
Worldwide and
Everest
PEAK Matrix
Data and Analytics (D&A) Services PEAK Matrix Assessment 2022
Everest
PEAK Matrix
Digital Twin Services PEAK Matrix Assessment 2022*
ISG
ISG Provider Lens Internet of Things -
IDC
Ranking Report
Worldwide and
Everest
PEAK Matrix
Digital Workplace Services PEAK Matrix Assessment 2022 -
Everest
PEAK Matrix
Digital Workplace Services PEAK Matrix Assessment 2022 -
NEAT
Supply Chain Transformation 2022
ISG
ISG Provider Lens Network - Software Defined Solutions and Services
RADAR
Digital Masters 2022 RADARVIEW
Everest
PEAK Matrix
Adobe Services PEAK Matrix Assessment 2022
NEAT
Salesforce Services 2022
ISG
ISG Provider Lens SAP Ecosystem - SAP S/4HANA System Transformation
HFS
Top 10
HFS Top 10: Capital Markets Services, 2022-Leaders
ISG
ISG Provider Lens Digital Banking Technology and Platforms - Core Banking Platforms (with DBEH) - Global 2022
Everest
PEAK Matrix
Financial Crime and Compliance (FCC) Operations - Services PEAK Matrix Assessment 2022
NEAT
Mortgage & Loan Services 2022
Everest
PEAK Matrix
Life Sciences Digital Services PEAK Matrix Assessment 2022
IDC
MarketScape
IDC MarketScape: Worldwide Life Science R&D Decentralized Clinical Trial Technology Solutions 2022 Vendor Assessment
RADAR
Life Sciences Digital Services 2022-2023 RADARVIEW
Everest
PEAK Matrix
Connected Medical Device Services PEAK Matrix Assessment 2022
Everest
PEAK Matrix
Industry 4.0 Services PEAK Matrix Assessment 2022: Unleashing the Era of Phygital Manufacturing
RADAR
Freight and Logistics Digital Services 2022-2023 RADARVIEW
ISG
TechMarketView
Ranking Report
HFS
Top 10
HFS Top 10: CFO F&A Service Providers, 2022
Everest
PEAK Matrix
Procurement Outsourcing (PO) - Service Provider Landscape with Services PEAK Matrix Assessment 2022
Everest
PEAK Matrix
Finance and Accounting Outsourcing (FAO) - Service Provider Landscape with PEAK Matrix Assessment 2022
About
A part of the Tata group, India's largest multinational business group, TCS has over 606,000 of the world's best-trained consultants in 55 countries. The company generated consolidated revenues of US
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India
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Phone: +521 55 2095 6098
Email: peter.devery@tcs.com
Phone: +44 20 3155 2421
Email: james.sciales@tcs.com
Phone: +1 917 981 7651
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