TCS Q4 Review - Strong FY21 Exit Rate, Deal Wins To Drive Growth In 2022: Motilal Oswal 
Tata Consultancy Services Building (Source: Company PR)

TCS Q4 Review - Strong FY21 Exit Rate, Deal Wins To Drive Growth In 2022: Motilal Oswal 

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Motilal Oswal Report

Tata Consultancy Services Ltd. reported revenue growth of 4.2% QoQ constant currency in Q4 FY21 (versus our estimate of 3.4%), delivering its third consecutive quarter of broad based (over 4% QoQ) growth.

It marginally improved its Ebit margin to 26.8% (up 20 basis point QoQ/up 170bp YoY). The same was below our estimate (27.2%) on ramp up of large deals.

Deal wins in Q4 FY21 stood at $9.2 billion, the highest in its history, with a book-to-bill ratio of 1.5 times.

A good Q4 helped it report sales (U.S. dollar)/Ebit/profit after tax growth of 0.6%/10%/0.4% in FY21.

Click on the attachment to read the full report:

Motilal Oswal TCS Q4 Result Review.pdf


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