Tata Consultancy Services : Dividend

G

TCS/BM/9/SE/2022-23

TATA

April 11, 2022

National Stock Exchange of India Limited	BSE Limited
Exchange Plaza, C-1, Block G, Bandra Koria	P. J. Towers,
Complex, Bandra (East)	Dalal Street,
Mumbai - 400051	Mumbai - 400001
Symbol-TCS	Scrip Code No. 532540
Dear Sirs,

Sub: Financial Results for the year ended March 31. 2022 and Recommendation of a Final

Dividend

We enclose the audited standalone financial results of the Company and aud ited consolidated financial results ofthe Company and its subsidiaries for the year ended March 31, 2022 under Ind AS ("the Statement"), which have been approved and taken on record at a meeting of the Board of Directors ofthe Company held today.

We would like to state that BS R & Co . LLP, statutory auditors of the Company, have issued audit reports with unmodified opinion on the Statement.

Further, we would like to inform you that at the Board Meeting held today, the Directors have recommended a Final Dividend of ~22 per Equity Share of~l each of the Company which shall be paid/dispatched on the fourth day from the conclusion ofthe 27th Annual General Meeting, subject to approval of the shareholders of the Company.

The above information is also available on the website of the Company:www.tcs.com

Thanking you,

Yours faithfully,

F~o=r ~ultancy Services Limited

P deep Manohar Gaitonde

Co pany Secretary

Encl: As above cc:

• 1. National Securities Depository Limited

• 2. Central Depository Services (India) Limited

• 3. TSR Darashaw Consultants Private Limited

TATA CONSULTANCY SERVICES

Tata Consultancy Services Limited

TCS House Rave li ne Street Mumbai 400 001 India

Tel [phone] Fax [phone] e-mail corporate .office@tcs .com websitewww.tcs .com

Registered Office 9th Floor Nirmal Building Nariman Po int Mumbai 400 021

Corporate Identification No . (CIN) : L22210MH1995PLC084781

B S R & Co. LLP

Chartered Accountants

14th Floor, Central B Wing and North C Wing,

Telephone: [phone]

Nesco IT Park 4, Nesco Center,

Fax: [phone]

Western Express Highway, Goregaon (East),

Mumbai - 400 063, India

lndeoendent Auditor's Reoort

To the Board of Directors of Tata Consultancy Services Limited

Report on the audit of the Consolidated Annual Financial Results

Opinion

We have audited the accompanying consolidated annual financial results of Tata Consultancy Services Limited (hereinafter referred to as the "Holding Company") and its subsidiaries listed in Annexure - I (Holding Company and its subsidiaries together referred to as "the Group"), for the year ended 31 March 2022, attached herewith, being submitted by the Holding Company pursuant to the requirement of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations").

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid consolidated annual financial results:

• a. include the annual financial results of the entities mentioned in Annexure I;

• b. are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and

c. give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable Indian Accounting Standards, and other accounting principles generally accepted in India, of consolidated net profit and other comprehensive loss and other financial information of the Group for the year ended 31 March 2022.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing ("SAs") specified under section 143(10) of the Companies Act, 2013 ("the Act"). Our responsibilities under those SAs are further described in the Auditor's Responsibilities for the Audit of the Consolidated Annual Financial Results section of our report. We are independent of the Group, in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act, and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence obtained by us, is sufficient and appropriate to provide a basis for our opinion on the consolidated annual financial results.

Management's and Board of Directors' Responsibilities for the Consolidated Annual Financial Results

These consolidated annual financial results have been prepared on the basis of the consolidated annual financial statements.

The Holding Company's Management and the Board of Directors are responsible for the preparation and presentation of these consolidated annual financial results that give a true and fair view of the consolidated net profit/ loss and other comprehensive income and other financial information of the Group in accordance with the recognition and measurement principles laid down in Indian Accounting Standards prescribed under Section 133 of the Act and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The respective Management and Board of Directors of the entities included in the Group are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of each entity and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively

Registered Office:

B S R & Co. (a partnership firm with Registration No. BA61223) converted into B S R & Co. LLP (a Limited Liability Partnership with LLP Registration No. AAB-8181) with effect from October 14, 2013

14th Floor, Central B Wing and North C Wing, Nesco IT Park 4, Nesco Center, Western Express Highway, Goregaon (East), Mumbai - 400063

Independent Auditor's Report (Continued)

Tata Consultancy Services Limited

for ensuring accuracy and completeness of the accounting records, relevant to the preparation and presentation of the consolidated annual financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error, which have been used for the purpose of preparation of the consolidated annual financial results by the Management and the Board of Directors of the Holding Company, as aforesaid.

In preparing the consolidated annual financial results, the respective Management and the Board of Directors of the entities included in the Group are responsible for assessing the ability of each entity to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the respective Board of Directors either intends to liquidate the entity or to cease operations, or has no realistic alternative but to do so.

The respective Board of Directors of the entities included in the Group are responsible for overseeing the financial reporting process of each entity.

Auditor's Responsibilities for the Audit of the Consolidated Annual Financial Results

Our objectives are to obtain reasonable assurance about whether the consolidated annual financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated annual financial results.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

• - Identify and assess the risks of material misstatement of the consolidated annual financial results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

• - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3) (i) of the Act, we are also responsible for expressing our opinion through a separate report on the complete set of financial statements on whether the company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.

• - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures in the consolidated annual financial results made by the Management and Board of Directors.

• - Conclude on the appropriateness of the Management and Board of Directors use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the appropriateness of this assumption. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the consolidated annual financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Group to cease to continue as a going concern.

• - Evaluate the overall presentation, structure and content of the consolidated annual financial results, including the disclosures, and whether the consolidated annual financial results represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance of the Holding Company and such other entities included in the consolidated annual financial results of which we are the independent auditors regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Independent Auditor's Report (Continued)

Tata Consultancy Services Limited

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

We also performed procedures in accordance with the circular No CIR/CFD/CMD1/44/2019 issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable.

Other Matter(s)

a. The consolidated annual financial results include the results for the quarter ended 31 March 2022 being the balancing figure between the audited figures in respect of the full financial year and the published audited year to date figures up to the third quarter of the current financial year.

For B S R & Co. LLP

Chartered Accountants

Firm's Registration No.:101248W/W-100022

r r

Amit Somani

Partner

Mumbai

Membership No.: 060154

11 April 2022

UDIN:22060154AGVDBE2119

Independent Auditor's Report (Continued)

Tata Consultancy Services Limited

Annexure I

List of entities included in consolidated annual financial results.

1	APTOnline Limited	32	MGDC S.C.
2	C-Edge Technologies Limited	33	Tata Consultancy Services Argentina S.A.
3	Diligenta Limited	34	Tata Consultancy Services De Mexico S.A., De C.V.
4	MahaOnline Limited	35	Tata Consultancy Services Do Brasil Ltda
5	MP Online Limited	36	TCS Inversiones Chile Limitada
6	Tata America International Corporation	37	Tata Consultancy Services France
7	Tata Consultancy Services (Africa) (PTY) Ltd.	38	TCS Uruguay S.A.
8	Tata Consultancy Services Asia Pacific Pte Ltd.	39	TCS Solution Center S.A.
9	Tata Consultancy Services Belgium	40	Tata Consultancy Services Danmark ApS
10	Tata Consultancy Services Canada Inc.	41	Tata Consultancy Services De Espana S.A.
11	Tata Consultancy Services Deutschland GmbH	42	Tata Consultancy Services Luxembourg S.A.
12	Tata Consultancy Services Netherlands BV	43	Tata GmbHConsultancyServicesOsterreich
13	Tata Consultancy Services Qatar L.L.C. (Formerly known as Tata Consultancy Services Qatar S.S.C.)	44	Tata Consultancy Services Saudi Arabia
14	Tata Consultancy Services Sverige AB	45	Tata Consultancy Services Switzerland Ltd.
15	TCS e-Serve International Limited	46	TCS Business Services GmbH
16	TCS FNS Pty Limited	47	Tata Consultancy Services Ireland Limited
17	TCS Iberoamerica SA	48	TCS Technology Solutions AG (Formerly known as Postbank Systems AG)
18	PT Tata Consultancy Services Indonesia	49	Saudi Desert Rose Holding B.V. (w.e.f. 26 May 2021)
19	Tata Consultancy Services (China) Co., Ltd.	50	Tata Consultancy Services Bulgaria EOOD (w.e.f. 31 August 2021)
20	Tata Consultancy Services (Philippines) Inc.	51	Tata Consultancy Services Guatemala, S.A. (w.e.f. 1 September 2021) A

111;