Tata Consultancy Services : Outcome of Board Meeting

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

Independent Auditor's Report

To the Board of Directors of Tata Consultancy Services Limited Report on the audit of the Consolidated Financial Results

Opinion

We have audited the accompanying Statement of Consolidated Financial Results of Tata Consultancy Services Limited ("Holding Company") and its subsidiaries listed in Annexure - I (Holding Company and its subsidiaries together referred to as "the Group"), for the quarter ended 30 June 2022, ("the Statement"), 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 Statement:

1. includes the results of the entities mentioned in Annexure I;
2. is presented in accordance with the requirements of Regulation 33 of the Listing Regulations as amended; and
3. gives a true and fair view in conformity with the applicable 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 quarter ended 30 June 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 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 we have obtained, is sufficient and appropriate to provide a basis for our opinion on the consolidated financial results.

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

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

The Holding Company's Management and the Board of Directors are responsible for the preparation and presentation of these consolidated 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 Standard 34, 'Interim Financial Reporting' 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 for ensuring accuracy and completeness of the accounting records, relevant to the preparation and presentation of the consolidated financial results that give a true and fair view and are free from

	Registered Office:
B S R & Co. (a partnership firm with Registration No. BA61223) converted into B S R & Co. LLP (a	14th Floor, Central B Wing and North C Wing, Nesco IT Park 4, Nesco
Limited Liability Partnership with LLP Registration No. AAB-8181) with effect from October 14, 2013	Center, Western Express Highway, Goregaon (East), Mumbai - 400063

B S R & Co. LLP

Independent Auditor's Report (Continued)

Tata Consultancy Services Limited

material misstatement, whether due to fraud or error, which have been used for the purpose of preparation of the consolidated financial results by the Management and the Board of Directors of the Holding Company, as aforesaid.

In preparing the consolidated 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 is responsible for overseeing the financial reporting process of each entity.

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

Our objectives are to obtain reasonable assurance about whether the consolidated 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 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 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, but not for the purpose of expressing an opinion on the effectiveness of the Group's internal control.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures in the consolidated 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 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 financial results, including the disclosures, and whether the consolidated 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 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.

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.

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Independent Auditor's Report (Continued)

Tata Consultancy Services Limited

We also performed procedures in accordance with the circular issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, as amended, to the extent applicable.

Other Matter(s)

1. Attention is drawn to the fact that the figures for the 3 months ended 31 March 2022 as reported in these consolidated financial results are the balancing figures between audited figures in respect of the full previous financial year and the published audited year to date figures up to the third quarter of the previous financial year.

For B S R & Co. LLP

Chartered Accountants

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

AM IT

SOMANI

Digitally signed

by AMIT SOMANI

Date: 2022.07.08 15:57:43 +o5'30'

	Amit Somani
	Partner
Mumbai	Membership No.: 060154
08 July 2022	UDIN:22060154AMMKTT8396

B S R & Co. LLP

Independent Auditor's Report (Continued)

Tata Consultancy Services Limited

Annexure I

List of entities included in consolidated financial results.

1	APTOnline Limited	32	Tata Consultancy Services Argentina S.A.
2	C-Edge Technologies Limited	33	Tata Consultancy Services De Mexico S.A.,
			De C.V.
3	Diligenta Limited	34	Tata Consultancy Services Do Brasil Ltda
4	MahaOnline Limited	35	TCS Inversiones Chile Limitada
5	MP Online Limited	36	Tata Consultancy Services France
6	Tata America International Corporation	37	TCS Uruguay S.A.
7	Tata Consultancy Services (Africa) (PTY) Ltd.	38	TCS Solution Center S.A.
8	Tata Consultancy Services Asia Pacific Pte	39	Tata Consultancy Services Danmark ApS
	Ltd.
9	Tata Consultancy Services Belgium	40	Tata Consultancy Services De Espana S.A.
10	Tata Consultancy Services Canada Inc.	41	Tata Consultancy Services Luxembourg S.A.
11	Tata Consultancy Services Deutschland	42	Tata Consultancy Services Osterreich GmbH
	GmbH
12	Tata Consultancy Services Netherlands BV	43	Tata Consultancy Services Saudi Arabia
13	Tata Consultancy Services Qatar L.L.C.	44	Tata Consultancy Services Switzerland Ltd.
14	Tata Consultancy Services Sverige AB	45	TCS Business Services GmbH
15	TCS e-Serve International Limited	46	Tata Consultancy Services Ireland Limited
16	TCS FNS Pty Limited	47	TCS Technology Solutions AG
17	TCS Iberoamerica SA	48	Saudi Desert Rose Holding B.V.
18	PT Tata Consultancy Services Indonesia	49	Tata Consultancy Services Bulgaria EOOD
19	Tata Consultancy Services (China) Co., Ltd.	50	Tata Consultancy Services Guatemala, S.A.
20	Tata Consultancy Services (Philippines) Inc.	51	Tata Consultancy Services UK Limited
21	Tata Consultancy Services (Thailand) Limited	52	TCS Foundation
22	Tata Consultancy Services Japan, Ltd.	53	Tata Sons & Consultancy Services
			Employees' Welfare Trust
23	Tata Consultancy Services Malaysia Sdn Bhd	54	TCS e-Serve International Limited -
			Employees' Welfare Benefit Trust
24	Tata Consultancy Services Italia s.r.l.