The country’s largest software exporter, Tata Consultancy Services (TCS), expects good growth this fiscal on the back of momentum in its digital vertical, Tata Sons chairman Cyrus Mistry said on Friday.
The Mumbai-based company's revenue grew 16% in dollar terms during FY13 compared to the industry benchmark of 8.8%, Mistry said at the company's annual general meeting.
“The market cap of the company has increased from R67,372 crore in 2005, when we went in for the initial public offering (IPO), to R417,826 crore in 2015,” he said.
“Earnings per share (EPS) have risen from R11.84 to R97.67 during the period.”
The IT major, which saw its net profit rise 37.7% year-on-year (yoy) during FY14, rolled out a dividend of R32 per share during the period, about 45% higher than the R22 per share it rolled out in FY13.
Mistry said the company currently has 714 $1-million customers and 24 $100-million customers. It has also launched a first of its kind, all- women BPO in Saudi Arabia.
To maintain growth, TCS will be focusing on its digital vertical — consisting of mobility, big data, social media, cloud computing and robotics — in terms of providing services and creating intellectual properties that can be leveraged later, N Chandrasekaran, CEO and managing director, Tata Consultancy Services, said.
“We will stay relevant and maintain our position in the industry by focusing on customer needs as we believe there's still growth opportunity in the market,” Mistry said.
He, however admitted that the company's revenues from its India business had taken a beating during FY14 compared to the previous years due to the general election, which delayed most of its projects.
“Most of our Indian projects are discretionary projects which were delayed hugely due to the general election,” he said.
TCS's net profit grew 37.7% in FY14 to R19,164 crore on the back of a 29.9% increase in revenue to R81,809 crore during the same period.
The company's shares closed up 3.85%, at R2,398.40, on the Bombay Stock Exchange on Friday.