TCS hits $25 billion in annual revenue, market capitalisation doubles

Tata Consultancy Services’ (TCS), India’s largest software services exporter, has grown its revenues from $18.5 billion in calendar year 2017 to $25 billion in calendar 2021, while market capitalisation has doubled to $200 billion as of September 2021 from April 2018 levels, during the tenure of managing director and chief executive Rajesh Gopinathan, who completed five years at the helm on Monday.

TCS said the next $25 billion will be driven by growth and transformation projects undertaken by clients, helped by the IT services provider’s sustained move towards cloud-based offerings.

The company has also seen a 67% increase in the number of women in senior leadership positions, with the overall workforce growing by over 42% to 556,986 in 2021, from 390,880 in 2017, it said in a statement.

The company said recently that women employees constitute 36% of its total workforce, with over 200,000 women on its rolls.

As part of its growth and transformation strategy, TCS is incrementally moving into newer segments and expanding its service portfolio.

The company said this shift will define the next five years, with the focus changing from a project-based, application development-based one to being more focused on enterprises and gaining more wallet share.

Gopinathan’s tenure has also been marked by the global Covid-19 pandemic, which resulted in the company adopting a 25×25 vision, wherein by 2025, only 25% of its workforce would work out of TCS facilities at any time, with associates spending only 25% of their time in the office.

Gopinathan was earlier the chief financial officer of TCS and had stepped into this role following the elevation of N Chandrasekharan as chairman of the Tata Group.

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