The annual report published by Tata Consultancy Services (TCS) states that the company in FY 2024 has logged 51 million learning hours and acquired nearly 5 million competencies.
In FY 2024, TCS has consolidated AI and Cloud expertise with the creation of the AI.Cloud unit. In addition, each of the business groups is developing domain-specific AI/GenAI offerings relevant to the industry value chain.
Over 300,000 employees have been upskilled on GenAI technologies in FY 2024.
TCS Chairman’s
Dear Shareholder,
In FY 2024, your company has continued to deliver strong performance. I am pleased to share with you that your company has crossed annual revenues of ₹240,893 crore, a growth of 6.8%, over the previous year.
With a relentless focus on operational excellence, this growth has come at an industry-leading operating margin of 24.6%*, an increase from 24.1% last year.
The order book for FY 2024 came at an all-time high of US$ 42.7 billion supported by strong client relationships and engagement. Client metrics continue to exhibit healthy progress with strong client additions.
Employee retention continues to be at benchmark levels in the industry. TCS has been selected as a Top Employer of Choice in 32 countries. TCS has retained its ranking as the second most valuable global IT services brand, valued at US$19.2 billion, an increase of US$2 billion from last year.
The global environment around the world continues to go through significant shifts. Post the pandemic, which resulted in supply chain shocks, there was an economic slowdown especially in developed markets.
While initial signs of stability began to emerge, the military conflicts have further intensified this year and continue to impact the global supply chains.
After two years of recessionary fears, persistently high inflation, and unprecedented monetary tightening, the global macro-outlook looks relatively better now with improving growth, disinflation, and monetary easing in sight.
Across industries globally, multiple megatrends are shaping the priorities of businesses: AI, New Energy, Supply Chain, and Talent.
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