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Competitio
n          
           
Last Price Market Cap. Sales Net Profit Total
  (Rs. cr.) Assets
Turnover
TCS 963.25 188,529.31 23,044.45 5,618.51 15,152.36

Infosys 3,018.60 173,278.11 21,140.00 5,803.00 22,036.00

Wipro 464 113,668.01 23,177.60 4,898.00 23,222.40

HCL Tech 426.1 29,072.05 5,078.76 1,056.58 4,001.97

Oracle Financ 2,316.35 19,431.58 2,212.62 695.71 4,178.07

Mphasis 620.35 13,020.74 3,405.02 836.87 2,151.30

Mahindra Satyam 81 9,529.28 5,100.50 -71.2 7,381.31

Tech Mahindra 753.5 9,430.19 4,483.76 742.85 5,001.60

Patni Computer 457.5 5,943.85 1,751.33 542.73 3,204.71

Financial Tech 1,143.05 5,267.01 356.36 368.6 2,455.40

 -------------------
Balance Sheet in Rs. Cr.
-------------------        
TCS Infosys Wipro HCL Tech Oracle Financ
 
 
  Mar '10 Mar '10 Mar '10 Jun '09 Mar '10

 
Sources Of Funds        
Total Share Capital 295.72 287 293.6 134.05 41.93
Equity Share
195.72 287 293.6 134.05 41.93
Capital
Share Application
0 0 1.8 0.47 0.81
Money
Preference Share
100 0 0 0 0
Capital
Reserves 14,820.90 21,749.00 17,396.80 3,353.72 4,135.33
Revaluation
0 0 0 0 0
Reserves
Networth 15,116.62 22,036.00 17,692.20 3,488.24 4,178.07
Secured Loans 29.25 0 0 123.81 0
Unsecured Loans 6.49 0 5,530.20 389.92 0
Total Debt 35.74 0 5,530.20 513.73 0
Total Liabilities 15,152.36 22,036.00 23,222.40 4,001.97 4,178.07
 -------------------
Balance Sheet in Rs. Cr.
-------------------        
TCS Infosys Wipro HCL Tech Oracle Financ
 
 
  Mar '10 Mar '10 Mar '10 Jun '09 Mar '10

Application Of Funds        

Gross Block 4,871.21 3,779.00 6,761.30 1,957.86 487.98

Less: Accum.
2,110.69 0 3,105.00 1,100.88 281.41
Depreciation
Net Block 2,760.52 3,779.00 3,656.30 856.98 206.57
Capital Work in
940.72 409 991.1 417.56 130.41
Progress
Investments 7,893.39 4,636.00 8,966.50 562.75 724.73
Inventories 6.78 0 606.9 87.01 0
Sundry Debtors 3,332.30 3,244.00 4,754.70 1,489.26 877.24
Cash and Bank
212.31 9,797.00 1,938.30 144 356.03
Balance
Total Current
3,551.39 13,041.00 7,299.90 1,720.27 1,233.27
Assets
Loans and
4,101.84 4,201.00 5,519.40 1,817.97 1,090.64
Advances
Fixed Deposits 3,183.85 0 3,726.00 1,221.83 1,403.21
Total CA, Loans &
10,837.08 17,242.00 16,545.30 4,760.07 3,727.12
Advances
Deffered Credit 0 0 0 0 0
Current Liabilities 3,352.74 1,995.00 4,706.00 2,217.44 532.29
Provisions 3,926.61 2,035.00 2,230.80 377.95 78.47
Total CL &
7,279.35 4,030.00 6,936.80 2,595.39 610.76
Provisions
Net Current Assets 3,557.73 13,212.00 9,608.50 2,164.68 3,116.36
Miscellaneous
0 0 0 0 0
Expenses

15,152.36 22,036.00 23,222.40 4,001.97 4,178.07

Total Assets
 
Contingent
3,292.50 295 778 3,317.46 195.75
Liabilities
Book Value (Rs) 76.72 384.69 120.49 52.04 498.15
 -------------------
Profit & Loss
in Rs. Cr.
account
-------------------        
TCS Infosys Wipro HCL Tech Oracle Financ
 
 
  Mar '10 Mar '10 Mar '10 Jun '09 Mar '10

 
Income        
Sales Turnover 23,044.84 21,140.00 23,006.30 4,675.09 2,243.47
Excise Duty 0.39 0 84.3 0 0
Net Sales 23,044.45 21,140.00 22,922.00 4,675.09 2,243.47
Other Income 182.1 958 875.3 91.49 -68.27
Stock
-1.38 0 111 0 0
Adjustments
Total Income 23,225.17 22,098.00 23,908.30 4,766.58 2,175.20
Expenditure        
Raw Materials 23.75 0 4,140.40 0 0
Power & Fuel
183.62 0 141.4 100.28 0
Cost
Employee Cost 7,882.43 10,356.00 9,062.80 1,874.10 1,048.56
Other
Manufacturing 6,446.99 2,317.00 2,071.80 492.39 19.31
Expenses
Selling and
Admin 1,268.03 215 1,475.10 637.66 271.35
Expenses
Miscellaneous
571.08 883 640 180.99 50.96
Expenses
Preoperative
0 0 0 0 0
Exp Capitalised
Total Expenses 16,375.90 13,771.00 17,531.50 3,285.42 1,390.18
  TCS Infosys Wipro HCL Tech Oracle Financ
 Mar '10 Mar '10 Mar '10 Jun '09 Mar '10

 
Operating Profit 6,667.17 7,369.00 5,501.50 1,389.67 853.29
PBDIT 6,849.27 8,327.00 6,376.80 1,481.16 785.02
Interest 9.54 0 108.4 35.35 0.23
PBDT 6,839.73 8,327.00 6,268.40 1,445.81 784.79
Depreciation 469.35 807 579.6 251.89 37.41
Other Written
0 0 0 0 0
Off
Profit Before
6,370.38 7,520.00 5,688.80 1,193.92 747.38
Tax
Extra-ordinary
-13.98 0 0 0 0
items
PBT (Post Extra-
6,356.40 7,520.00 5,688.80 1,193.92 747.38
ord Items)
Tax 737.89 1,717.00 790.8 196.61 86.52
Reported Net
5,618.51 5,803.00 4,898.00 997.31 660.85
Profit
Total Value
16,352.15 13,771.00 13,391.10 3,285.42 1,390.19
Addition
Preference
17 0 0 0 0
Dividend
Equity Dividend 3,914.43 1,434.00 880.9 469.61 0
Corporate
657.51 240 128.3 79.73 0
Dividend Tax

Per share data (annualised)        

Shares in issue
19,572.21 5,728.30 14,682.11 6,702.57 838.55
(lakhs)
Earning Per
28.62 101.3 33.36 14.88 78.81
Share (Rs)
Equity Dividend
2,000.00 500 300 350 0
(%)
Book Value (Rs) 76.72 384.69 120.49 52.04 498.15
CashFlows          
           
-----------------
-- in Rs. Cr.
 
-----------------
--        
Oracle
  Mphasis Infosys TCS Wipro
Financ

Oct '09 Mar '10 Mar '10 Mar '10 Mar '10
 
 
Net Profit Before
12 mths 12 mths 12 mths 12 mths 12 mths
Tax
Net Cash From
Operating 870.81 7472 6370.38 747.37 5688.8
Activities
Net Cash (used
in)/from
874.33 5876 6264.74 692.7 4477.4
Investing Activities

Net Cash (used

in)/from Financing -877.41 -3314 -4556.64 -433.06 -3064.6
Activities

Net
(decrease)/increas
65.08 -1486 -1969.65 6.58 -96.2
e In Cash and Cash
Equivalents

Opening Cash &

61.99 1008 -261.55 266.23 1316.6
Cash Equivalents

Closing Cash &

35.02 10289 554.83 122.07 4347.7
Cash Equivalents
 -------------------
Quarterly Results in Rs. Cr.
-------------------        

Oracle
TCS Infosys Wipro HCL Tech
  Financ

Jun '10 Sep '10 Jun '10 Jun '10 Jun '10
 
 
Sales Turnover 6,410.95 6,425.00 5,982.20 1,330.61 500.67
Other Income 36.43 248 128.8 35.61 --
Total Income 6,447.38 6,673.00 6,111.00 1,366.22 500.67
Total Expenses 4,549.60 4,249.00 4,591.50 1,017.64 337.5
Operating Profit 1,861.35 2,176.00 1,390.70 312.97 163.17
Profit On Sale Of
-- -- -- -- --
Assets
Profit On Sale Of
-- -- -- -- --
Investments
Gain/Loss On
-- -- -- -- --
Foreign Exchange
VRS Adjustment -- -- -- -- --
Other
Extraordinary -- -- -- -- --
Income/Expenses
Total
Extraordinary -- -- -- -- --
Income/Expenses
Tax On
Extraordinary -- -- -- -- --
Items
Net Extra Ordinary
-- -- -- -- --
Income/Expenses
Gross Profit 1,897.78 2,424.00 1,519.50 348.58 163.17
Interest 1.94 -- 75.5 25.45 -26.61
PBDT 1,895.84 2,424.00 1,444.00 323.13 189.78
Depreciation 114.6 187 136.1 73.43 8.48
Depreciation On
Revaluation Of -- -- -- -- --
Assets
PBT 1,781.24 2,237.00 1,307.90 249.7 181.3
Tax 224.83 596 197.9 11.88 7.36
Net Profit 1,556.41 1,641.00 1,110.00 237.82 173.94
Prior Years
-- -- -- -- --
Income/Expenses
Depreciation for
Previous Years
-- -- -- -- --
Written Back/
Provided
Dividend -- -- -- -- --
Dividend Tax -- -- -- -- --
Dividend (%) -- -- -- -- --
Earnings Per Share 7.95 28.59 4.53 3.5 20.74
Book Value -- -- -- -- --
Equity 195.72 287 489.9 135.76 41.94
Reserves -- 22,156.00 -- 4,798.09 4,311.25
Face Value 1 5 2 2 5
 ------------------
- in Rs. Cr.
Half Yearly Results
------------------
-        
Oracle
TCS Infosys Wipro HCL Tech
  Financ
 

6 mths 6 mths 6 mths 6 mths 6 mths

 
 
Sales Turnover 11,690.45 12,183.00 12,033.90 2,617.72 1,161.25
Other Income 201.7 485 212.1 69.67 --
Total Income 11,892.15 12,668.00 12,246.00 2,687.39 1,161.25
Total Expenses 8,245.39 8,145.00 9,094.80 1,960.74 671.23
Operating Profit 3,445.06 4,038.00 2,939.10 656.98 490.02
Profit On Sale Of
-- -- -- -- --
Assets
Profit On Sale Of
-- -- -- -- --
Investments
Gain/Loss On
-- -- -- -- --
Foreign Exchange
VRS Adjustment -- -- -- -- --
Other Extraordinary
-- -- -- -- --
Income/Expenses
Total Extraordinary
-- -- -- -- --
Income/Expenses
Tax On
-- -- -- -- --
Extraordinary Items
Net Extra Ordinary
-- -- -- -- --
Income/Expenses
Gross Profit 3,646.76 4,523.00 3,151.20 726.65 490.02
Interest 6.68 -- -79 50.06 68.75
PBDT 3640.08 4523 3230.2 676.59 421.27
Depreciation 237.18 367 285.4 138.16 17.56
Depreciation On
Revaluation Of -- -- -- -- --
Assets
PBT 3402.9 4156 2944.8 538.43 403.71
Tax 408.43 1,084.00 476.9 38.04 66.9
Net Profit 2,994.47 3,072.00 2,467.90 500.39 336.81
Prior Year
-- -- -- -- --
Income/Expenses
Depreciation for
Previous Years
-- -- -- -- --
Written Back/
Provided
Dividend -- -- -- -- --
Dividend Tax -- -- -- -- --
Dividend (%) -- -- -- -- --
Earnings Per
15.3 53.52 16.81 7.37 40.16
Share(Rs)
Book Value(Rs) -- -- -- -- --
Equity 195.72 287 293.6 135.76 41.93
Reserves 14,820.90 22,156.00 17,396.80 4,798.09 --
Face Value(Rs) 1 5 2 2 5
9 monthly          
           

------------------- in
Rs. Cr.
-------------------          
Oracle
Infosys TCS HCL Tech Mphasis
  Financ
 
Sales Turnover Dec '09 Dec '09 Dec '09 Mar '10 Jul '10
Other Income 1,637.76 15,640.00 17,237.39 3,748.14 2,790.87
Total Income -- 720 16.26 127.44 52.89
Total Expenses 1,637.76 16,360.00 17,253.65 3,875.58 2,843.76
Operating Profit 1,045.69 10,175.00 12,162.41 2,695.97 1,967.92
Profit On Sale Of
592.07 5,465.00 5,074.98 1,052.17 822.95
Assets
Profit On Sale Of
-- -- -- -- --
Investments
Gain/Loss On
-- -- -- -- --
Foreign Exchange
VRS Adjustment -- -- -- -- --
Other
Extraordinary -- -- -- -- --
Income/Expenses
Total
Extraordinary -- -- -- -- --
Income/Expenses
Tax On
Extraordinary -- -- -- -- 22.45
Items
Net Extra Ordinary
-- -- -- -- --
Income/Expenses
Gross Profit -- -- -- -- --
Interest 592.07 6,185.00 5,091.24 1,179.61 875.84
PBDT 19.9 -- 5.37 75.91 0.47
Depreciation 572.17 6,185.00 5,085.87 1,103.70 897.82
Depreciation On
Revaluation Of 28.69 613 350.58 200.58 86.84
Assets
PBT -- -- -- -- --
Tax 543.48 5,572.00 4,735.29 903.12 810.98
Net Profit 27.91 1,199.00 557.05 84.36 80.92
Prior Years
515.57 4,373.00 4,178.24 818.76 730.06
Income/Expenses
Depreciation for
Previous Years
-- -- -- -- --
Written Back/
Provided
Dividend -- -- -- -- --
Dividend Tax -- -- -- -- --
Dividend (%) -- -- -- -- --
Earnings Per Share -- -- -- -- --
Book Value 61.52 76.18 21.35 12.11 34.79
Equity -- -- -- -- --
Reserves 41.9 287 195.72 135.22 209.87
Face Value 3,987.38 21,284.00 -- 4,502.74 2,502.92
 Tata Consultancy « Previous
Services Years          
------------------
- in Rs. Cr.
Key Financial Ratios ------------------
-        
Mar '06 Mar '07 Mar '08 Mar '09 Mar '10
 
 
Investment Valuation Ratios        
Face Value 1 1 1 1 1
Dividend Per Share 13.5 11.5 14 14 20
Operating Profit Per
68.21 43.95 51.35 61.52 34.06
Share (Rs)
Net Operating Profit Per
229.52 152.67 189.39 228.92 117.74
Share (Rs)
Free Reserves Per Share
113.86 80.25 110.22 134.37 75.24
(Rs)
Bonus in Equity Capital 18.61 59.3 59.3 59.3 79.65
Profitability Ratios        
Operating Profit
29.71 28.79 27.11 26.87 28.93
Margin(%)
Profit Before Interest And
27.26 26.34 24.42 24.75 26.62
Tax Margin(%)
Gross Profit Margin(%) 30.07 29.17 24.64 25.01 26.89
Cash Profit Margin(%) 26.33 27.29 25.29 26.09 26.44
Adjusted Cash Margin(%) 27.25 26.44 25.29 26.09 26.44
Net Profit Margin(%) 24.05 25 24.11 20.74 24.13
Adjusted Net Profit
24.97 24.15 24.11 20.74 24.13
Margin(%)
Return On Capital
55.7 49.87 42.92 43.27 42.46
Employed(%)
Return On Net Worth(%) 48.43 46.62 41.34 35.13 37.3
Adjusted Return on Net
50.28 45.04 39.16 41.06 37.75
Worth(%)
Return on Assets
36.59 82.35 111.43 136.38 76.72
Excluding Revaluations
Return on Assets
36.59 82.35 111.43 136.38 76.72
Including Revaluations
Return on Long Term
55.97 50.12 42.96 43.27 42.46
Funds(%)

Liquidity And Solvency Ratios        

Current Ratio 2.19 1.93 1.98 1.83 1.49
Quick Ratio 2.22 1.98 1.97 1.83 1.48
Debt Equity Ratio 0.01 0.01 0.01 0.01 0.01
Long Term Debt Equity
-- -- 0.01 0.01 0.01
Ratio

Debt Coverage Ratios        

Interest Cover 700.35 1,179.14 1,383.58 784.41 674.43
Total Debt to Owners
0.01 0.01 0.01 0.01 0.01
Fund
Financial Charges
757.67 1,279.26 1,517.73 840.52 723.63
Coverage Ratio
Financial Charges
663.42 1,196.54 1,453.50 688.32 639.14
Coverage Ratio Post Tax

Management Efficiency Ratios        

Inventory Turnover Ratio 492.37 1,245.97 1,137.21 1,321.77 3,398.94
Debtors Turnover Ratio 5.93 5.83 5.66 6 6.54
Investments Turnover
536.84 1,412.30 1,137.21 1,321.77 3,398.94
Ratio
Fixed Assets Turnover
9.11 8.2 5.74 5.15 4.74
Ratio
Total Assets Turnover
1.99 1.85 1.68 1.66 1.52
Ratio
Asset Turnover Ratio 6.68 6.49 5.74 5.15 4.74
           
Average Raw Material
85.76 144.33 98.28 93.98 72.97
Holding
Average Finished Goods
0.48 0.05 0.03 0.07 0.04
Held
Number of Days In
71.53 63.6 71.55 67.44 55.58
Working Capital

Profit & Loss Account Ratios        

Material Cost
1.43 0.14 0.24 0.23 0.1
Composition
Imported Composition of
80.37 70.79 80.43 79.74 78.67
Raw Materials Consumed
Selling Distribution Cost
0.1 0.2 0.14 0.09 0.03
Composition
Expenses as Composition
90.17 92.38 90.51 93.01 92.38
of Total Sales

Cash Flow Indicator Ratios        

Dividend Payout Ratio
27.72 34.46 35.55 34.2 81.61
Net Profit
Dividend Payout Ratio
25.32 31.57 32.26 31.41 75.3
Cash Profit
Earning Retention Ratio 73.3 64.34 62.47 70.74 19.37
Cash Earning Retention
75.53 67.42 66.11 72.81 25.53
Ratio
AdjustedCash Flow Times 0.01 0.01 0 0.01 0.01

Mar '06 Mar '07 Mar '08 Mar '09 Mar '10
 
Earnings Per Share 55.53 38.39 46.07 47.92 28.62
Book Value 114.64 82.35 111.43 136.38 76.72

Analysis:
Liquidity and solvency ratios:

Current Ratio (Working Capital Ratio)

This ratio indicates whether a company has enough short term assets to cover its short term debt.
Anything below 1 indicates negative W/C (working capital). While anything over 2 means that the
company is not investing excess assets. Most believe that a ratio between 1.2 and 2.0 is sufficient, Tata
Consultancy Services seems to be comfortably in this area since 2007

Quick Ratio(Acid Ratio)

Liquidity of Assets are 1.48 times of Current Liabilities. It implies that the liquidity of the firm is good
enough to meet its current liabilities immediately and to meet unexpected demand for working capital.
This ratio is used to determine risk that is not detected by the Working Capital ratio(current ratio). TCS
seems to be all right in this area. Their ratio of 1.48 means that they have enough liquid assets to cover a
unexpected drawdown of liabilities (people wanting their money now). Companies with ratios of less than
1 can not pay their current liabilities and should be looked at with extreme care. Furthermore if the acid
ratio is much lower than the working capital ratio it means that current assets are highly dependent on
inventory - retail stores are examples of this type of business.

Debt equity ratio (total debt/Net worth)

Ideal Debt equity ratio is 0.75/1
This ratio shows the ability of a company to pay debts.
The Debt/Equity ratio is certainly far from perfect! A low ratio of 0.01 means that the company is exposing
itself to a large amount of equity. This is certainly better than a high ratio of 2 or more since this would
expose the company to risk such as interest rate increases and creditor nervousness. One way to
improve their situation would be to issue more debt and use

Profitability ratios:

Operating Profit Margin : Operating Profit/Net Sales

This ratio shows the net profitability of the company. (i.e. higher Operating Profit Ratio means that a
company has increased its sales and decreased its operating expenses)
Higher the ratio, the better will be the operational efficiency of the company.
Lower the ratio, the lower will be the operational efficiency of the company.
It has remained almost stable for TCS in the past 5 years

Gross Profit Margin : sales – cogs/net sales

This ratio measures the trading effectiveness and basic profit earning potential of a company.
Higher the ratio, the greater will be the margin in comparison to sales.
Lower the ratio, the lower will be the margin in comparison to sales. In general, a company's gross profit
margin should be stable. It should not fluctuate much from one period to another, unless the industry it is
in has been undergoing drastic changes which will affect the COGS or pricing policies. It has not
fluctuated much in the past 5 years for TCS.

Net Profit Margin : PBIT/Net Sales

This ratios shows the profit excess of revenue over the expenses.
Higher the ratio, the adequate returns to the owners.
Lower the ratio, the inadequate returns to the owners.
It has been ranging between 20-25% for TCS in the last 5 years

Return on Capital Employed : PBIT/Capital employed

This ratio works as a test of profitability related to long-term funds.
Higher the ratio, the utilization of the capital is more effective and efficient.
Lower the ratio, the utilization of the capital is not proper.
42.46% shows an effective and efficient utilization of capital

Return on Net Worth : PAIT/Net Worth

This ratio is used to ascertain the earning power of shareholder's investment.
Higher the ratio, the higher will be the distribution of dividends to shareholders.
Lower the ratio, the lower will be the distribution of dividends to shareholders and
37.3% shows greater distribution of dividends to shareholders.