TCS Financial Results

Quarter I FY 2020 - 21

July 09, 2020

| Copyright © 2020 Tata Consultancy Services Limited
Disclaimer

Certain statements in this release concerning our future prospects are forward-looking statements. Forward-looking
statements by their nature involve a number of risks and uncertainties that could cause actual results to differ materially
from market expectations. These risks and uncertainties include, but are not limited to our ability to, manage growth,
intense competition among global IT services companies, various factors which may affect our profitability, such as wage
increases or an appreciating Rupee, our ability to attract and retain highly skilled professionals, time and cost overruns on
fixed-price, fixed-time frame contracts, client concentration, restrictions on cross-border movement of skilled personnel,
our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in
telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for
damages on our service contracts, the success of the companies in which TCS has made strategic investments, withdrawal
of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies outside
India, unauthorized use of our intellectual property and general economic conditions affecting our industry. TCS may, from
time to time, make additional written and oral forward-looking statements, including our reports to shareholders. These
forward-looking statements represent only the Company’s current intentions, beliefs or expectations, and any forward-
looking statement speaks only as of the date on which it was made. The Company assumes no obligation to revise or
update any forward-looking statements.
Q1 FY21 Performance Highlights

➢ Revenue:
- INR Revenue of ` 383,220 Mn, up 0.4% YoY
- USD Revenue of $ 5,059 Mn, down 7.8% YoY
- Constant currency revenue down 6.3% YoY

➢ Profit:
- Operating Margin at 23.6%
- Net Margin at 18.3%
- Cash flow from operations at 132.6% of net profit

➢ Demand:
- Clients $100M+ up by 4 ; $20M+ up by 11 & $5M+ up by 13 YoY

➢ People:
- Net addition of (4,788) associates, closing headcount: 443,676
- LTM attrition QoQ to 11.1% in IT Services
Growth Summary (INR)
Revenue Y-o-Y Growth Y-o-Y Growth CC

3,89,770 3,98,540 3,99,460 11.4%

3,81,720 3,83,220 8.4% 6.8%
Million
5.1%
10.6%
6.7%
5.8% 3.0% 0.4%
`

-6.3%
Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20 Q1 FY21
Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20 Q1 FY21

Operating Income Operating margin (%)

99,740 1,00,250
92,200 93,610 90,480 25.0% 25.1%
24.2%
Million

24.0% 23.6%
`

Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20 Q1 FY21 Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20 Q1 FY21

Net Income Net margin (%)

81,310 80,420 81,180 80,490 21.3%

20.6% 20.4%
Million

70,080 20.2%
18.3%
`

Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20 Q1 FY21 Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20 Q1 FY21
Growth Summary (USD)
Revenue Y-o-Y Growth Y-o-Y Growth CC
5,485 5,517 5,586 10.6%
5,444
8.4%
5,059 6.8%
8.6%
Million 3.0%
5.8% 6.4%
0.9%
$

-6.3%
-7.8%
Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20 Q1 FY21
Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20 Q1 FY21

Operating Income Operating margin (%)

1,398 1,366
1,325 1,326 25.0% 25.1%
1,194 24.2% 24.0%
$ Million

23.6%

Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20 Q1 FY21 Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20 Q1 FY21

Net Income Net margin (%)

1,168 1,139 1,138

1,096 21.3% 20.4%
20.6%
Million

20.2%
925 18.3%
$

Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20 Q1 FY21 Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20 Q1 FY21
Operational Parameters
Growth by Market

Y-o-Y
Geography (%) Q1 FY20 Q1 FY21
CC Growth

Americas
North America 50.6 51.4 -6.1
Latin America 1.8 1.7 0.2

Europe
UK 15.8 15.3 -8.5
Continental Europe 14.3 15.6 2.7

India 6.0 4.3 -27.6

Asia Pacific 9.4 9.8 -3.2
MEA 2.1 1.9 -11.7

Total 100.0 100.0 -6.3

Growth by Domain

Y-o-Y
Vertical (%) Q1 FY20 Q1 FY21
CC Growth

BFSI 30.9 31.3 -4.9

Retail & CPG 15.1 14.0 -12.9
Communication & Media 6.9 7.1 -3.6
Manufacturing 9.8 9.7 -7.1
Life Sciences & Healthcare 7.8 9.6 13.8
Technology & Services 8.8 9.1 -4.0
Regional Markets & Others 20.7 19.2 -12.5

Total 100.0 100.0 -6.3

 Service Lines Commentary
• Cash conservation and cost optimization was the Clients are increasingly adopting Risk based
topmost priority for our clients during Q1. We Threat Management as the core strategy rather
however, expect this to be temporary and Digital Our Consulting business is expected to post a
than limit to a compliance driven strategy. There
robust recovery. Strong traction continued in
Transformations to resume acceleration over the is a significant uptick in IdentiFenceTM platform
M&A and Location Independent Agile services.
next two quarters. Consulting & Finance & Shared Services Transformation and offering (Privilege Access Management aaMS).
Services We saw strong and growing demand for
• Pioneering Contactless Experiences as a key theme Digital Strategy & Integration services had strong Cyber Security
Integration performance. Automated/Agile Security implementations for
for enterprises to combat the COVID crisis, we cloud adoption, Identity and Access
positioned multiple focused offerings – Remote Management, Vulnerability Management and
Digital Workplaces, Customer Experience & Support Governance, Risk and Compliance solutions.
Services, Ecosystem Modernization, Digital Learning,
Employee Onboarding and Wellness, to name but a Despite the pandemic, we provided We enabled Microsoft Digital Workplace &
few. uninterrupted services for our clients with 99% of collaboration services for numerous customers to
• We leveraged our strong partner ecosystem to our teams now working in the SBWS™ model. We ensure safe and secure communication and
secured several large wins and had multiple collaboration for their employees while
deliver a range of services & solutions for our Enterprise
Cognitive success stories where we are helping our clients enhancing productivity and ensuring employee
customers during the pandemic. enhance enterprise resilience, accelerate cloud Application
Business wellbeing. We launched TCS Crystallus™, a set of
• TCS Secure Borderless Workspaces (TCS SBWSTM) Operations adoption, improve customer experience in a Services pre-configured industry solutions that accelerate
saw strong resonance from our clients and has been virtual world and improve enterprise agility for SAP S/4HANA-enabled digital transformations.
a very effective driving force behind Next Gen new operating models.
secure, remote digital workplaces enabling us to
deliver quick and smart solutions for immediate We saw increased traction for Intelligent
COVID-19 disruption reaffirmed cloud being an
needs such as handling transaction volume spikes integral component for enterprise resilience. Automated Assurance to ensure higher
and enabling remote workforce solutions, while Cloud Migration, Modernization and Integration performance and availability due to the COVID-
ensuring continuity of business operations. posted strong revenue and pipeline growth. Our 19 situation. We launched ‘QE Hub’ to deliver
Quality Engineering essential services with the key pillars of rapid test
• MFDM™ foundation in over 100+ clients provided Cloud Services private cloud solutions helped customers sustain & Transformation setup, on-demand services, elastic operating
them the ability to respond to the crisis effectively business operations by ensuring continuity of
services with an average availability of 99.99% in Platform Services model and integrated services including tools &
with resilience and adaptability. infrastructure, which quickly gained momentum.
the said period.
• We continued to see strong demand for Cloud and
Cyber Security services during the quarter.

TCS Confidential
Client Parameters

Clients Contribution Q1 FY20 Q1 FY21

US$ 1m+ Clients 1014 1066

US$ 5m+ Clients 551 564
US$ 10m+ Clients 384 382
US$ 20m+ Clients 219 230

US$ 50m+ Clients 100 100

US$ 100m+ Clients 44 48
*Last Twelve Months' services revenues
 Key Highlights (1/3)
Consulting & Services Integration

▪ Selected by global market data firm, to transform their operating model to enable a faster, smarter and ▪ Aegon UK has selected TCS as the strategic partner to provide end-to-end digital
leaner product-based organization with zero disruption, adopting a machine first approach. solutions by leveraging new-age technologies and newer ways of working for an
▪ Selected by a Fortune 500 American multinational staffing corporation, for transforming its business extended duration of 3 years.
processes and establishing Global Shared Services with automation and cloud enablement . TCS will ▪ Selected by the Reserve Bank of India for a program of national importance, to
leverage an industry-leading cloud ERP solution to drive an increase in operational efficiency and develop, implement and support the Public Credit Registry (PCR), a digital registry to
consolidation at group level, with significant process level improvement across finance functions capture and store the credit information of individual and corporate borrowers in
globally. India, to enable faster and transparent credit provisioning to a larger set of
▪ Selected by an American multinational developer of networking products and software- borrowers. PCR will be highly secure, resilient and scalable platform built using the
defined networking technology as the strategic partner for its Customer Experience Center (CEC) latest technologies, supporting easy integration and interoperability for institutions
transformation. The CEC platform will encapsulate the customer service and support experience and like CERSAI ,MCA, GSTN, SEBI etc, and accessible online to the various stakeholders of
become the primary engagement platform and key facilitator of their transition to a subscription-based the credit ecosystem through a strong data privacy and consent management
business model. framework.

▪ Selected by a leading fashion and beauty retail pioneer to transform their global finance and supply
chain operations. TCS will undertake design and deployment of the SAP S4 solution to substantially TCS Interactive, Conversational Experiences
reduce leakages in supply chain and IT costs and enable better customer experience.
▪ Selected by a Scandinavian retail chain, as the transformation partner for its strategic initiative to ▪ Selected by a major American low-cost airline, as a strategic partner in its Digital
integrate businesses across the organization and stores under a common leading cloud ERP platform. 2020 vision of transforming customer experience. Using a leading web apps
TCS solution will empower the client to launch new digital services and become a leader in customer framework and a distributed agile team, the TCS solution will enable improved
experience. customer engagement and higher conversion across digital channels.
▪ Engaged by a multi-level marketing company, to implement enterprise-wide Agile and DevOps as a part ▪ Selected by a subsidiary of one of the largest global financial services providers, to
of its transformation strategy, to drive consistent adoption of agile practices globally for increased reimagine the resource center for its employees. Using our expertise in experience
customer centricity and productivity. design and content services, TCS will deliver a frictionless self-service learning
▪ Selected by a global leader in connected LED lighting systems, to manage its systems and processes. TCS capability helping increase self-service and drive operational gains.
will increase efficiency in business-critical services and enhance the underlying systems & processes for ▪ Selected by a European railway company, to implement a multi-lingual
better performance. TCS will undertake service transformation, through use of its Machine First conversational interface for its sales & marketing applications, allowing customers
Delivery Model (MFDMTM), leading to enhanced end-user experience. to use their channel-of-choice. TCS solution will help them achieve 24x7 sales
▪ Engaged by a large Fortune 500 Utility in the US, for strategic transformation of their IT operating model operations, with substantial improvements in sales conversion and customer
and services with the Machine First approach leveraging ignio™. Also selected as the partner for their satisfaction along with reduction in call volumes.
digital journey for accelerated adoption of Automation, Mobility and Cloud leveraging the Business 4.0
Framework.
 Key Highlights (2/3)
Enterprise Applications Services, Enterprise Intelligent Automation Cognitive Business Operations, Cloud, Cyber Security

▪ Selected by a global engineering conglomerate, to deliver a strategic business and IT ▪ Chosen by a European multinational corporation, as the strategic partner to transform its
transformation initiative designed to ensure digital ready processes on a global scale. TCS operations harnessing the power of digital technologies. TCS will leverage MFDM™ framework,
will enable continuous improvements and transformation that will create a future- ignio™ and its cloud exponence platform for rapid cloud migration delivering faster time to
oriented enterprise architecture, enabling globally integrated business processes to market
improve time to market & operational efficiencies.
▪ Selected by Tata Steel in Europe, one of the largest steelmakers in Europe, as its strategic
▪ Engaged by a US-based bank offering a range of banking services and one of the partner to transform its IT infrastructure leveraging TCS cognitive operations platform powered
largest residential mortgage servicers, to transform its mortgage operations business. by MFDM™ for substantially increased efficiency and customer experience.
Leveraging a leading CRM cloud platform, customer management and engagement will be
▪ Engaged by Tryg Forsikring, a large Nordic non-life insurance company to transform the existing
transformed with omni-channel engagement, accelerated time to market for new
infrastructure platform to a modern hybrid cloud platform powered by TCS Enterprise Cloud
offerings, and increased employee productivity.
Platform and a leading hyperscale cloud platform. This transformation will enable the customer
▪ Selected by a leading global management consulting firm, to transform its employee to accelerate its cloud first strategy and reduce their time to market significantly, with an
experience across multiple countries. TCS will enable HR transformation leading automation based digital foundation.
to enhanced engagement with globally diverse employees, increased employee
▪ Chosen by a leading global financial services company, to conceptualize, design and implement
satisfaction, and better talent retention.
its infrastructure security leveraging a Machine First approach, for
▪ Selected by a large global consumer products company, to enhance the reduced risk, greater efficiency and compliance to global information security program policy.
employee experience and enable collaboration & remote working by leveraging a leading
▪ Engaged by Visionworks of America, a leading provider of eye care services in the US, for
workplace, mobility and chatbot solution.
revamping their point of sale estate by unlocking the power of cloud and using Agile methods to
▪ Engaged by an internet and communications services company in the Middle East, provide a seamless experience for their employees and end customers.
to initiate and drive its digital transformation journey. TCS will migrate its legacy CRM
▪ Engaged by a global semiconductor design & manufacturing company, to transform its supply
solution to an industry leading solution driving the growth & transformation agenda for
and sales processes by leveraging a leading cloud platform and a microservices based
the organization.
architecture for greater efficiency and visibility across the business ecosystem.
▪ Chosen by a leading retailer in Australia with a chain of supermarkets and grocery
▪ Won a multi-year deal to manage global infrastructure operations supporting business
stores, to implement an application integration platform on a hyperscale public cloud, to
platforms, content and product platforms for John Wiley & Sons, Inc., a global leader in research
aid faster separation of a business unit as per their divesture plan.
and education. The scope also includes enabling transformation to cloud to cater to growth in
▪ A leading European airline, has scaled up its association with TCS for RPA and AI initiatives digital subscriptions, support the future business models, and new acquisitions.
in application management and operations. As part of the MFDM™ roadmap, TCS has
proposed the implementation of Augmented AI capabilities to drive cognitive automation
across business value chains for higher efficiencies and enhanced customer satisfaction.
Key Highlights (3/3)
Analytics & Insights, Internet of Things

▪ Engaged by a Europe-based multinational consumer credit reporting company, to ▪ Selected by a leading global investment bank and financial services company, to tap the potential of its
unlock the power of its data ecosystem to create growth opportunities. TCS will data and take data-driven business decisions for improving customer engagement, staying ahead of
modernize its existing credit services platform, thereby enabling the customer to the curve, and enhancing business ROI by modernizing its integrated data warehouse across the
stay agile, innovate to create new services & products and scale easily. wealth management and investment domains.
▪ Chosen by a leading Australian bank, to transform its business operations in
consumer mortgages and origination processes. TCS Analytics services & assets will
help the customer to enhance their data-based decision-making capabilities to
drive superior business outcomes. Quality Engineering & Transformation, Blockchain
▪ Chosen by a Swedish multinational networking and telecommunications giant, as
their strategic blockchain partner for ideation and platform selection, operating ▪ Chosen by a leading UK building society, as a transformation partner for digitalized
model definition and coming up with a plan for scaling blockchain implementations mortgage distribution. TCS will enable faster time to market, tailored decisioning
across the organization. and better customer experience by leveraging TCS CX and Smart QE assurance
platforms.
▪ Selected by a leading Europe-based telecommunications company, as its partner to
drive business insights at scale with speed & reliability and improve its customer ▪ Selected by an American financial services company, for agile testing of their enterprise
base. TCS will enable the client to future-proof its business intelligence and portfolio. TCS will leverage its Smart QE platform & assessment approach for faster
reporting catalogue function and eliminate data redundancies, in order to achieve a test cycles and higher efficiency.
single source of truth.
Human Resources
Total Employee Base
Total Employees : 443,676
Attrition*:
• 11.1 (LTM), IT Services
4,50,738
4,48,464
4,46,675
4,43,676 Diversity:
4,36,641 • Women employees: 36.2%
• Nationalities: 146
* Excluding Subsidiaries
4,24,285

Talent Development:
• 7.9m Learning hours
Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 Q1-21
• 353k+ employees Digital Trained
• 417k+ employees Agile Trained
Annexure
IFRS Income Statement
` Million % of Revenue
Consolidated IFRS
Q1 FY20 Q1 FY21 Q1 FY20 Q1 FY21

Revenue 3,81,720 3,83,220 100.00 100.00

Cost of revenue 2,27,210 2,32,140 59.52 60.58

Gross margin 1,54,510 1,51,080 40.48 39.42

SG & A expenses 62,310 60,600 16.32 15.81

Operating income 92,200 90,480 24.16 23.61

Other income (expense), net 14,180 4,560 3.71 1.19

Income before income taxes 1,06,380 95,040 27.87 24.80

Income taxes 24,850 24,550 6.51 6.41

Income after income taxes 81,530 70,490 21.36 18.39

Minority interest 220 410 0.06 0.10

Net income 81,310 70,080 21.30 18.29

Earnings per share in ` 21.67 18.68

COR – SG&A Details
` Million % of Revenue
COR
Q1 FY20 Q1 FY21 Q1 FY20 Q1 FY21

Employee cost 1,60,030 1,73,680 41.92 45.32

Fees to external consultants 31,140 29,550 8.16 7.71
Equipment and software 5,110 3,460 1.34 0.90
Facility expenses 4,550 3,320 1.19 0.87
Depreciation 6,190 7,280 1.62 1.90
Travel 6,020 2,340 1.58 0.61
Communication 2,910 3,310 0.76 0.86

Other expenses 11,260 9,200 2.95 2.41

Cost of Revenue 2,27,210 2,32,140 59.52 60.58

` Million % of Revenue
SGA
Q1 FY20 Q1 FY21 Q1 FY20 Q1 FY21

Employee cost 48,060 47,250 12.59 12.33

Fees to external consultants 800 1,080 0.21 0.28
Facility expenses 2,280 2,040 0.59 0.53
Depreciation 1,980 2,490 0.52 0.65
Travel 3,320 520 0.87 0.13
Communication 870 1,290 0.23 0.34
Provision for Doubtful Debts 500 530 0.13 0.14
Other expenses 4,500 5,400 1.18 1.41
S G & A expenses 62,310 60,600 16.32 15.81
Cash Flow Summary

IFRS in ` Mn Q1 FY20 Q1 FY21

Net Cash from Operations 84,460 92,900

Capital Expenditure 8,920 6,220

Free Cash Flow 75,540 86,680

Dividends Paid 80,560 22,850

Operating Cash Flow to Sales (%) 22.1 24.2

Operating Cash Flow to Net Profit (%) 103.9 132.6

Total Cash and Investments 4,89,030 5,11,120

IFRS Statement of Financial Position
31-Mar-20 30-Jun-20
Consolidated IFRS
` Million % ` Million %

Assets

Property and equipment 1,19,380 9.71 1,18,950 9.23

Right-of-use Assets 79,940 6.50 80,100 6.22
Intangible assets and Goodwill 41,330 3.35 42,040 3.26

Accounts Receivable 3,06,060 24.88 3,03,820 23.59

Unbilled Revenues 1,05,440 8.57 95,050 7.38

Investments 2,63,560 21.42 2,97,200 23.07

Cash and Cash equivalents 86,460 7.03 97,450 7.57
Other current assets 1,48,950 12.12 1,78,540 13.89
Other non current assets 79,010 6.42 74,600 5.79

Total assets 12,30,130 100.00 12,87,750 100.00

Liabilities and Shareholders' Equity

Shareholders' Funds 8,62,400 70.10 9,17,700 71.25

Other current liabilities 2,70,600 22.00 2,73,570 21.24

Other non-current liabilities 90,900 7.38 90,150 7.01

Minority Interest 6,230 0.52 6,330 0.50

Total Liabilities 12,30,130 100.00 12,87,750 100.00

IFRS Income Statement – In USD
$ Million % of Revenue
Consolidated IFRS
Q1 FY20 Q1 FY21 Q1 FY20 Q1 FY21

Revenue 5,485 5,059 100.00 100.00

Cost of revenue 3,265 3,065 59.52 60.58

Gross margin 2,220 1,994 40.48 39.42

SG & A expenses 895 800 16.32 15.81

Operating income 1,325 1,194 24.16 23.61

Other income (expense), net 203 60 3.71 1.19

Income before income taxes 1,528 1,254 27.87 24.80

Income taxes 357 324 6.51 6.41

Income after income taxes 1,171 930 21.36 18.39

Minority interest 3 5 0.06 0.10

Net income 1,168 925 21.30 18.29

Earnings per share in $ 0.31 0.25

COR – SG&A Details – In USD
$ Million % of Revenue
COR
Q1 FY20 Q1 FY21 Q1 FY20 Q1 FY21

Employee cost 2,299 2,293 41.92 45.32

Fees to external consultants 448 390 8.16 7.71
Equipment and software 73 46 1.34 0.90
Facility expenses 65 44 1.19 0.87
Depreciation 89 96 1.62 1.90
Travel 87 31 1.58 0.61
Communication 42 44 0.76 0.86
Other expenses 162 121 2.95 2.41
Cost of Revenue 3,265 3,065 59.52 60.58

$ Million % of Revenue
SGA
Q1 FY20 Q1 FY21 Q1 FY20 Q1 FY21

Employee cost 691 624 12.59 12.33

Fees to external consultants 11 14 0.21 0.28
Facility expenses 33 27 0.59 0.53
Depreciation 28 33 0.52 0.65
Travel 48 7 0.87 0.13
Communication 12 17 0.23 0.34
Provision for Doubtful Debts 7 7 0.13 0.14
Other expenses 65 71 1.18 1.41
SG&A expenses 895 800 16.32 15.81
IFRS Statement of Financial Position in USD
31-Mar-20 30-Jun-20
Consolidated IFRS
$ Million % $ Million %

Assets

Property and equipment 1,583 9.71 1,575 9.23

Right-of-use Assets 1,060 6.50 1,061 6.22
Intangible assets and Goodwill 547 3.35 556 3.26

Accounts Receivable 4,057 24.88 4,024 23.59

Unbilled Revenues 1,398 8.57 1,259 7.38

Investments 3,494 21.42 3,936 23.07

Cash and Cash equivalents 1,146 7.03 1,291 7.57
Other current assets 1,976 12.12 2,369 13.89
Other non current assets 1,048 6.42 987 5.79

Total assets 16,309 100.00 17,058 100.00

Liabilities and Shareholders' Equity

Shareholders' Funds 11,433 70.10 12,154 71.25

Other current liabilities 3,587 22.00 3,623 21.24

Other non-current liabilities 1,204 7.38 1,195 7.01

Minority Interest 85 0.52 86 0.50

Total Liabilities 16,309 100.00 17,058 100.00

Ind AS Income Statement - Consolidated
` Crore % of Revenue
Consolidated Ind AS
Q1 FY20 Q1 FY21 Q1 FY20 Q1 FY21

Revenue 38,172 38,322 100.00 100.00

Expenditure
a) Employee Costs 20,809 22,093 54.51 57.65
b) Cost of equipment and software licences 511 346 1.34 0.90
c) Other Operating expenses 6,815 5,859 17.85 15.29
d) Depreciation 817 976 2.14 2.55
Total Expenditure 28,952 29,274 75.84 76.39

Profit Before Taxes & Other Income 9,220 9,048 24.16 23.61

Other income (expense), net 1,418 456 3.71 1.19

Profit Before Taxes & Exceptional Items 10,638 9,504 27.87 24.80

Provision For Taxes 2,485 2,455 6.51 6.41

Profit After Taxes & Before Minority Interest 8,153 7,049 21.36 18.39

Minority Interest 22 41 0.06 0.10

Net Profit 8,131 7,008 21.30 18.29

Earnings per share in ` 21.67 18.68

Ind AS Balance Sheet - Consolidated
` Crore %
Consolidated Ind AS
31-Mar-20 30-Jun-20 31-Mar-20 30-Jun-20
ASSETS

Property, plant and equipment 12,130 12,126 10.03 9.57

Right-of-use assets 7,994 8,010 6.61 6.32
Investments 26,356 29,720 21.80 23.46
Deferred tax assets (net) 2,828 2,654 2.34 2.10
Goodwill (on consolidation) 1,710 1,752 1.41 1.38
Cash and Bank Balance 9,666 9,988 8.00 7.89
Current Assets, Loans and Advances 54,431 56,902 45.02 44.92
Non-current assets, Loans and advances 5,784 5,509 4.79 4.36

Total Assets 1,20,899 1,26,661 100.00 100.00

EQUITY AND LIABILITIES

Shareholders' Funds 84,126 89,656 69.58 70.78

Minority Interest 623 633 0.52 0.50
Deferred tax liabilities (net) 779 623 0.64 0.49
Current liabilities and provisions 27,060 27,357 22.38 21.60
Non-current liabilities and provisions 8,311 8,392 6.88 6.63

Total Liabilities 1,20,899 1,26,661 100.00 100.00

Currency mix and average realized rates in INR

Average rates % of Revenue

Currency
Q1 FY20 Q1 FY21 YoY Q1 FY20 Q1 FY21

USD 69.60 75.75 8.84% 53.16% 54.04%

GBP 88.77 93.96 5.84% 14.01% 13.30%
EUR 78.28 83.67 6.88% 10.40% 11.11%
Others 22.43% 21.55%

Total 100.00% 100.00%

Thank You