TCS - Stellar Performance Continues, Confident Of Achieving Double-Digit Growth For 2021: HDFC Securities
An employee walks along a road at the TCS Synergy Park campus in Hyderabad. (Photographer Namas Bhojani/Bloomberg)

TCS - Stellar Performance Continues, Confident Of Achieving Double-Digit Growth For 2021: HDFC Securities

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.

HDFC Securities Report

Tata Consultancy Services Ltd.’s Q3 FY21 results key positives included -

1. broad-based (verticals and services) growth outperformance (strongest Q3 in nine years) supported by better conversions,

2. robust deal wins with total contract value at $6.8 billion (excluding - Postbank Systems Deutsche deal), nine months FY21 TCV higher by 23% and strong bookings/ramp-up expected in Q4,

3. margin outperformance supported by operating leverage and efficiencies.

Management provided ‘double-digit’ outlook for FY22/CY21 (we have factored in 14.8% for FY22E) and ‘sustainability of momentum’ for three-five years secular cycle of cloud adoption.

Click on the attachment to read the full report:

HDFC Securities - Tata Consultancy Services Q3 Result Review.pdf

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