During the 17th annual general meeting, Chairman, Tata Sons, N Chandrasekaran said, the Investors TCS witnessed over 3,000 percent return on their investment since the company was listed in 2004.
TCS 17th Annual General Meeting Highlights
India’s largest IT services, TCS held its 17th annual general meeting virtually.
“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,” said Chandrasekaran.
He 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.
Further saying, “I express a deep gratitude to his indefatigable, influential spirit for shaping TCS and the fabric of TCS culture,”.
Steady Growth During Pandemic
While speaking on the ongoing pandemic, Chandrasekeran mentioned that TCS weathered pandemic well.
Adding that, the firm is positioned to tap into a multi-year technology up-gradation cycle and help customers translate their transformative visions into reality.
The CEO of the firm, Rajesh Gopinathan, said that TCS is ready to tap into the huge digital opportunities and sees demand in what it describes as three horizons.
The IT firm is gearing up with the 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.
Further adding, “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,”.
Active Participation In Hiring
While talking about the hiring, he mentioned that the company will continue to hire and invest in growing talents in-house.
Since “TCS has been at the forefront in job creation,”.
As a result, the company made a net addition of 40,185 staff, so the total employee count not stand at 4.88 lakh.
Working Towards Covid-19 Relief Front
Apart from this, the IT leader has made a contribution of Rs 273 crore to the COVID-19 relief front and has also worked in collaboration with Tata Trusts.
In addition to that, the firm’s Research and Development arm is engaged in 72 COVID-19 related initiatives around the world.
It includes the initiatives like drug candidate molecule discovery, COVID data management, diagnostic kits, and epidemiological study and management.
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