- 2004 to present
- Tata Consultancy Services Ltd. (IPO)
- Tcs ipo listing price
- Products and services
- Service lines
- Tata Consultancy Services Ltd.
- TCS BPS
- Tata Research Development and Design Centre
- Innovation Labs
- IPO Top Losers
- Class action lawsuit
- SME IPOs in 2020
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- Tata Consultancy Services Ltd
- Accusations of discrimination
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Tata Consultancy Services Limited (TCS) is an Indian multinationalinformation technology (IT) service and consulting company headquartered in Mumbai, Maharashtra, India. It is a subsidiary of Tata Group and operates in 149 locations across 46 countries.
TCS is the largest Indian company by market capitalization. Tata consultancy services is now placed among the most valuable IT services brands worldwide. In 2015, TCS was ranked 64th overall in the Forbes World's Most Innovative Companies ranking, making it both the highest-ranked IT services company and the top Indian company. It is the world's largest IT services provider. As of 2018, it is ranked eleventh on the Fortune India 500 list. In April 2018, TCS became the first Indian IT company to reach $100 billion market capitalization, and second Indian company ever (after Reliance Industries achieved it in 2007) after its market capitalization stood at ₹6,79,332.81 crore ($102.6 billion) on the Bombay Stock Exchange.
In 2016-2017, Parent company Tata Sons owned 20% of TCS; and more than 70% of Tata Sons' dividends were generated by TCS. In March 2018, Tata Sons decided to sell stocks of TCS worth $1.25 billion in a bulk deal.
Tata Consultancy Services Limited, initially started as "Tata Computer Systems" was founded in 1968 by division of Tata Sons Limited. Its early contracts included punched card services to sister company TISCO (now Tata Steel), working on an Inter-Branch Reconciliation System for the Central Bank of India, and providing bureau services to Unit Trust of India.
In 1975, TCS delivered an electronic depository and trading system called SECOM for the Swiss company SIS SegaInterSettle (deutsch); it also developed System X for the Canadian Depository System and automated the Johannesburg Stock Exchange. TCS associated with a Swiss partner, TKS Teknosoft, which it later acquired.
In 1980, TCS established India's first dedicated software research and development centre, the Tata Research Development and Design Centre (TRDDC) in Pune. In 1981, it established India's first client-dedicated offshore development centre, set up for clients Tandem.
TCS later (1993) partnered with Canada-based software factory Integrity Software Corp, which TCS later acquired.
In anticipation of the Y2K bug and the launch of a unified European currency (Euro), Tata Consultancy Services created the factory model for Y2K conversion and developed software tools which automated the conversion process and enabled third-party developer and client implementation. Towards the end of 1999, TCS decided to offer Decision Support System (DSS) in the domestic market under its Corporate Vice President and Transformation Head Subbu Iyer.
2004 to present
On 25 August 2004, TCS became a Publicly Listed Company.
In 2005, TCS became the first India-based IT services company to enter the bioinformatics market. In 2006, it designed an ERP system for the Indian Railway Catering and Tourism Corporation. By 2008, its e-business activities were generating over US$500 million in annual revenues.
TCS entered the small and medium enterprises market for the first time in 2011, with cloud-based offerings. On the last trading day of 2011, it overtook RIL to achieve the highest market capitalisation of any India-based company. In the 2011/12 fiscal year, TCS achieved annual revenues of over US$10 billion for the first time.
In May 2013, TCS was awarded a six-year contract worth over ₹1100 crore to provide services to the Indian Department of Posts. In 2013, the firm moved from the 13th position to 10th position in the League of top 10 global IT services companies and in July 2014, it became the first Indian company with over Rs 5 lakh crore market capitalization.
In Jan 2015, TCS ends RIL's 23-year run as most profitable firm
In Jan 2017, the company announced a partnership with Aurus, Inc., a payments technology company, to deliver payment solutions for retailers using TCS OmniStore, a first of its kind unified store commerce platform. In the same year, TCS China was associated as a joint venture with the Chinese government.
TCS announced its FY19 Q3 results posting 24 percent year-on-year (YoY) rise in profit at Rs 8,105 crore. The stock plunged 2.5 percent intra-day as brokerages cut price target.
TCS Honored with Four Stevies® at the 2019 American Business Awards®
Products and services
TCS and its 67 subsidiaries provides a wide range of information technology-related products and services including application development, business process outsourcing, capacity planning, consulting, enterprise software, hardware sizing, payment processing, software management and technology education services. The firm's established software products are TCS BaNCS and TCS MasterCraft.
TCS' services are currently organised into the following service lines (percentage of total TCS revenues in the 2012-13 financial year generated by each respective service line is shown in parentheses):
Tata Consultancy Services has 285 offices across 46 countries and 147 delivery centers in 21 countries. At the same date TCS had a total of 58 subsidiary companies.
TCS has operations in the following locations:
India: Ahmedabad' [NIZAMZBZD];[Bangalore]], Baroda, Bhubaneswar, Chennai, Coimbatore, Delhi, Gandhinagar, Goa, Gurgaon, Guwahati, Hyderabad, Bhopal, Indore, Jamshedpur, Kochi, Kolkata, Lucknow, Mumbai, Nagpur, Noida, Nashik, Patna,Pune, Trivandrum, and Varanasi
Asia (excluding India): Bahrain, China, Israel, UAE, Hong Kong, Indonesia, Japan, Malaysia, Philippines, Saudi Arabia, Singapore, South Korea, Taiwan, Thailand, and Qatar
Africa: South Africa, Morocco (closed)
Europe: Belgium, Denmark, Finland, France, Germany, Hungary, Iceland, Republic of Ireland, Italy, Luxembourg, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, and United Kingdom.
North America: Canada, Mexico, and United States.
Tata Consultancy Services Ltd.
South America: Argentina, Brazil, Chile, Colombia, Ecuador, Peru, and Uruguay.
TCS BPS (Business Process Services) is the third-largest India-based IT outsourcing company (after Capgemini). The BPS division had revenues of US$1.44 billion in the FY 2012-13 which was 12.5% of the total revenue of TCS. TCS BPS has more than 45,000 employees which serve over 225 million customers across 11 countries. The rate of attrition in BPS division during the financial year 2012-13 was 19.5%.
In 2006, TCS won a $35 million contract from Eli Lilly and Company for providing data management, biostatistics and medical writing services. In 2007, it won a major multi-year deal from Swiss pharmaceutical major Hoffmann-La Roche to provide data management, biostatistics, clinical programming and drug safety support to Hoffmann-La Roche's global pharmaceutical development efforts.
The firm has also opened a business process outsourcing facility in the Philippines.
Tata Research Development and Design Centre
Main article: Tata Research Development and Design Centre
TCS established the first software research center in India, the Tata Research Development and Design Centre, in Pune, India in 1981.
TRDDC undertakes research in Software engineering, Process engineering and systems research. Researchers at TRDDC also developed MasterCraft (now a suite of digitization and optimization tools), a Model Driven Development software that can automatically create code based on a model of a software, and rewrite the code based on the user's needs. Research at TRDDC has also resulted in the development of Sujal, a low-cost water purifier that can be manufactured using locally available resources.
TCS deployed thousands of these filters in the Indian Ocean tsunami disaster of 2004 as part of its relief activities. This product has been marketed in India as Tata swach, a low cost water purifier.
In 2007, TCS launched its co-innovation network, a network of innovation labs, start up alliances, university research departments, and venture capitalists. In addition, TCS has 19 innovation labs based in three countries. TCS' partners include Collabnet, Cassatt, academic institutions such as IITs, Stanford, MIT, Carnegie Mellon and venture capitalists like Sequoia and Kleiner Perkins.
TCS is one of the biggest and the largest private sector employers in India, and the fourth-largest employer among listed Indian companies (after Indian Railways, Indian Army and India Post). TCS had a total of 400,875 employees as of September 2018, of which 31% were women. The number of non-Indian nationals was 21,282 as on 31 March 2013 (7.7%). The employee costs for the FY 2012-13 were US$4.38 billion, which was approx.
38% of the total revenue of the company for that period. In the fiscal year 2012-13, TCS recruited a total of 69,728 new staff, of whom 59,276 were based in India and 10,452 were based in the rest of the world. In the same period, the rate of attrition was 10.6%. The average age of a TCS employee is 28 years. The employee utilisation rate, excluding trainees, for the FY 2012-13 was 82%. TCS was the fifth-largest United States visa recipient in 2008 (after Infosys, CTS, Wipro and Mahindra Satyam). In 2012, the Tata group companies, including TCS, were the second largest recipient of H-1B visas. As of June 2017, TCS has over 387,000+ employees.
It is world's third largest IT employer behind IBM and HP.
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Subramaniam Ramadorai, former CEO of TCS, has written an autobiographical book about his experiences in the company called The TCS Story...and Beyond.
TCS is the title sponsor for Amsterdam Marathon, Mumbai Marathon and New York City Marathon and one of the sponsors of City2Surf, Australian Running Festival, Berlin Marathon, Chicago Marathon, and Boston Marathon. In India, it is the title sponsor of World 10K held in Bangalore every year. TCS is a sponsor of Indian Premier League team Rajasthan Royals since 2009. In addition, TCS provides Rajasthan Royals with technology to help in analysis of player performance, simulation and use of RFID tags for tracking the players’ fitness levels and for security purposes in the stadiums. TCS sponsors an annual IT quiz for high school students called TCS IT Wiz. The TCS IT Wiz is the largest quiz in India, attracting students who are studying between class 8 and class 12.
This quiz is hosted by Giri Balasubramanium.
Class action lawsuit
On 14 February 2006, U.S. law firm Lieff Cabraser Heimann & Bernstein, LLP filed a nationwide class-action lawsuit against Tata. In July 2013, judge Claudia Wilken of the U.S.
District Court, Northern District of California in Oakland, California, granted final approval to the settlement of the lawsuit on behalf of all non-U.S.
citizens employed by TCS within the state of California from 14 February 2002 to 30 June 2005.
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The workers claimed that they were forced to sign over their federal and state tax refunds to their employer, as well as stating their Indian salaries were wrongfully deducted from their U.S.
pay. On 22 February 2013, the company entered into an agreement to settle for a sum of INR 16,163 lakhs ($29.75 million), this class-action suit filed in a United States Court relating to payment to employees on deputation.
A US grand jury has slapped two companies of India's Tata Group - Tata Consultancy Services and Tata America International Corp - with a US$940 million fine in a trade secret lawsuit filed against them.
Epic Systems had accused TCS and Tata America International Corp, in a lawsuit filed in October 2014 in US District Court in Madison which was amended in January and December 2015, of "brazenly stealing the trade secrets, confidential information, documents and data" belonging to Epic. This Epic Systems lawsuit against TCS was closed and settled with an undisclosed out of court agreement that was completed in January 2018.
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A federal class-action lawsuit accusing Tata Consultancy Services Ltd. of bias against U.S.-born workers could be heard by the Court during a Jury Trial starting in November 2018. The US Federal Court Case in Northern District of California (Buchanan v. Tata Consultancy Servs., Ltd., 4:15-cv-01696) is one of seven across the USA asserting that several large off-shore and national IT staffing companies with operations in the US, prefer foreign workers from South Asia over qualified Americans.
Tata Consultancy Services Ltd
All of the companies being sued are heavy users of H-1B guestworker visas, which go to skilled professionals in “specialty occupations.” The US Federal District Court Case 15-cv-01696-YGR seeks to consolidate these lawsuits against TCS and several other IT staffing companies into a class action trial and is allowed by the Federal District Court to proceed (but not yet certified) with a possible November 2018 Jury Trial.
Accusations of discrimination
In May 2013, the Canadian Broadcasting Corporation (CBC), in its extensive coverage of the hiring of temporary foreign workers in Canada and the unemployment issues faced by Canadians, reported that TCS rarely hires skilled experienced Canadians at the Toronto offices while advertising open positions in Canada.
TCS responded that the company hired more than 125 Canadian workers in 2013 who make less than 1.2% of the 10,452 workers the company has outside of India.
In April 2015, a class-action lawsuit against TCS was filed in a San Francisco federal court by a U.S.
information technology worker and ex-employee, who accused the company of discriminating against American workers by favoring South Asians in hiring and promotion.
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The lawsuit claimed that South Asians comprise 95% of the company's 14,000-person U.S. workforce and that TCS engaged in discriminatory practices by sourcing most of its workforce through the H-1B visa program, by focusing its U.S.-based hiring disproportionately on South Asians and by favoring South Asian employees in its human resources practices.
In response, TCS refuted the plaintiff's claims, assuring that it is an equal opportunity employer and bases its employment practices on non-discriminatory reasons. A spokesperson said that in 2014 alone the company had recruited over 2,600 U.S. hires.