TCS stock up 3000% since its IPO -Chandrasekaran
Published On: Friday, June 11, 2021 | By: Team KnowMyStock
Tata Consultancy Services (TCS) has navigated the pandemic very well, and has earned tremendous goodwill from customers, which enhanced the firm’s standing in the market, N Chandrasekaran, chairman, said in his virtual address of the 26th Annual General Meeting on Thursday. He said, if an investor had invested in TCS IPO investor’s wealth would have increased by 3000% in 17 years. One share of TCS at a price of Rs 850 during the IPO in 2004 would be worth Rs 28000 today, giving shareholders a 3000% return on their investment. On the performance of the company, he said barring the first quarter of the fiscal year, the company delivered a sharp recovery. For FY21, TCS has returned Rs 33,873 crore in dividends and buyback to shareholders, resulting in a payout of 95 per cent of free cash flow.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.
Chandrasekaran said, TCS has consistently re-invented in new services and offerings required for the future and the company has delivered an industry-leading operating margin of 25.9% in FY21 with a total dividend payout of Rs 38 per share, completed Rs 16000 cr share buyback in FY21, and returned 95% of free cash flow to customers.
He said TCS contributed Rs 273 crore towards Covid-19 relief work, including building capacity for 200 doctors across 22 hospitals, distribution of 2.5 million meals to doctors and medical professionals. TCS also trained health workers and spread awareness among rural population, impacting the lives of over 450,000 people.
Tags: TCS return IPO pandemic Covid-19 relief work
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