Investors of India’s largest IT services TCS saw over 3,000 percent return on their investment since the company was listed in 2004, said N Chandrasekaran, Chairman, Tata Sons.
Speaking at the 17th annual general meeting, which was held virtually, Chandrasekaran said, “Looking back, if you had invested in one TCS share at the issue price of Rs 850 in the IPO in 2004, the value of that investment today in a period of 17 years, would be around Rs 28,000, a return of over 3,000 percent on your investment.”
Chandrasekaran also recounted the contribution of FC Kohli, who led TCS during the initial 27 years, navigating multiple technology waves investing continuously in people and in research and innovation. “I express a deep gratitude to his indefatigable, influential spirit for shaping TCS and the fabric of TCS culture,” he said.
Talking about the pandemic, Chandrasekeran said that TCS weathered pandemic well and is positioned to tap into multi-year technology upgradation cycle and help customers translate their transformative visions into reality.
As the company gears up to tap into the huge digital opportunities, Rajesh Gopinathan, CEO, said that TCS sees demand in what it describes as three horizons.
This includes digital transformation of technology infrastructure followed by innovating the business models leveraging data and analytics, and finally cloud ecosystem, where enterprises will collaborate with other adjacent enterprises.
“These initiatives together will result in a significant technological transformation across multiple industries which gives us long term visibility in overall demand environment and we are gearing up for that,” he added.
To carry this out, company will continue to hire and invest in growing talents in-house. “TCS has been at the forefront in job creation,” Gopinathan said. The company made a net addition of 40,185 staff, taking the total employee count to 4.88 lakh.
“Our Skilling at Scale infrastructure and program cuts across multiple dimensions including anytime-anywhere access, reimagining the content, making it consumable across devices and across time frames and ensuring the delivery and infrastructure support our new skilling strategies and the kind of talent base we are attracting,” he said.On the COVID-19 relief front, the company has made a contribution of Rs 273 crore and has worked in collaboration with Tata Trusts. The company’s Research and Development arm is engaged in 72 COVID related initiatives around the world such as drug candidate molecule discovery, COVID data management, diagnostic kits, and epidemiological study and management.