Dear Shareholders,
 
 It has been another milestone year for your Company in 2011-12 with
 strong performance across all dimensions.  It has been made all the
 more memorable with the organisation achieving the-billion mark in
 revenue at the end of the financial year. This has been made possible
 by the sustained performance by all teams and units across the world.
 
 On a consolidated basis, revenue for 2011-12 grew by 31% to Rs 48,894
 crore (.17 billion), driven by customer demand for our holistic
 portfolio of services and solutions.  Your Company continued to sustain
 its profitability, despite a volatile external environment. The net
 profits grew by 15% to Rs 10,413 crore.
 
 We have continued our practice to consistently reward our shareholders
 with a higher dividend. This year our dividend payout is Rs 25 per share
 including Rs 8 proposed as final dividend and Rs 8 proposed as special
 dividend.  The earnings per share for the Company increased to Rs 53.07.
 
 During the financial year 2011-12,your Company wasable to capture the
 business momentum, with all markets and the industries in which it
 operates growing in double digits. Our strategy to partner with
 customers and co-create solutions to drive optimisation and agility
 across the enterprise is yielding results for our customers.  New
 service lines like Infrastructure Services, BPO and Enterprise
 Solutions gained global scale during the year with each service line
 clocking more than $ 1 billion in annual revenues. All other service
 lines also performed admirably with each growing by double digits.
 
 Your Companys ability to grow in a rapidly evolving external
 environment is due to its customer-centric approach, balanced nature of
 the business portfolio and presence across all regions. Global
 corporations want to optimise as well as innovate to drive agility and
 growth in their business. Your Company is well placed to help them in
 multiple parts of their business with its deep domain knowledge, global
 scale and industry-leading solutions.  This momentum is reflected in
 customer metrics as well as the increasing holistic nature of the
 customer wins.  Over the last 12 months, your Company added 141 new
 customers across the world to take its active customer base to 1076.
 The movement of customers across each revenue band from  million
 onwards has been very positive, including growing the number of 0
 million customers to fourteen from eight in the previous year.
 
 As we continue to meet customers across the world, we remain convinced
 of the huge potential of your Company in the global market with
 potential for growth in every industry segment, service line and
 market. The key will be our ability to remain relevant to our
 customers, understand their business needs and perform with rigor to
 meet those needs.
 
 Across multiple industries globally, technology spend is increasing
 moving from the back-end of the business - where it brought in
 efficiency - to the front-office, where it is being leveraged to gain
 consumer/customer insights and drive growth. Emerging technologies like
 cloud computing, big-data analytics and social media backed by 3G and
 4G technologies is driving this transformation at customer touch points
 across industries. Your Companys early investments in these
 game-changing technologies are enabling it to play an increasingly
 strategic role in this transformation and help customers prepare for
 the future and drive growth.
 
 With a fast expanding organisation that has inducted and integrated
 70,400 professionals in the past 12 months, your Company continues to
 be recognised as a benchmark brand for learning and development of young
 IT professionals. Your Companys continued success is due to the
 dedication, commitment and performance of 2,38,583 energetic
 professionals, who remain its biggest asset. Efforts to continuously
 engage with this base of professionals as well as create comprehensive
 career paths has helped increase our talent retention rate to 87.8% -
 the highest in the Indian IT industry. We continue to invest in their
 development and capabilities through training in new technologies,
 domain and processes in a modeof engaged collaboration.
 
 Innovation through strong research and development continues to be a
 major focus area for your Company.  We are increasing our investment in
 many areas including new sensor-based technologies, intelligent
 infrastructure, platforms for genomics research, information fusion for
 enterprises and green technologies.
 
 This is resulting in more Intellectual Property Rights (IPR) being
 generated by your Company. We have increased our patent filings
 significantly and 460 patents were filed in several countries in
 2011-12. Until now, cumulatively, TCS has filed 855 patent applications
 of which 72 have been granted.
 
 Your Company continues to invest in sustainable infrastructure and
 campuses that are world-class and intelligent. It added over 24,700
 seats during the year in its centres.
 
 Your Company was recognised by industry, customers and media for
 excellence along many dimensions including overall financial
 performance, human resources, sustainability, investor relations,
 infrastructure, communications and governance. The Company received
 multiple awards during the year.
 
 Looking ahead to 2012-13, global macro-economic challenges persist. The
 world is witnessing slower GDP growth as well as slower job growth
 across developed and emerging markets. Currency volatility
 continues. These issues are likely to cloud prospects in the short-term.
 However, this is not a new phenomenon and global corporations recognise
 that they need to be nimble to adapt to changes in the environment.
 Your Company is strategically partnering with many customers across
 different areas of their business to help them in this process.
 
 On behalf of the entire Company and its leadership team,
 
 I want to thank each shareholder for their support and commitment to
 the Company. It is the support of shareholders that has helped make TCS
 among the most valuable companies in India. I look forward to your
 continued support as your Company embarks on the next
 phase of its growth journey.
 
 
 Warm regards 
 
 N Chandrasekaran
 
 Chief Executive Officer and Managing Director
 
 May 26,2012