TCS: Strong Demand Outlook to Compensate for Margin Headwind
TCS reported a revenue of USD6.7b in 4QFY22, up 3.2%/2.6% QoQ in constant currency (CC)/USD terms, but slightly below our estimate of 3.1% QoQ...
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Tata Consultancy Services: Tailwinds to Be Back Ended
Tata Consultancy Services (TCS) reported revenue growth of 2.6% QoQ USD terms (3.2%QoQ CC) and margins of 25% in line with our estimates. Revenue...
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Tata Consultancy Services: Revenue in Line and Margin Better than Expected
TCS delivered US$6,696mn in revenue in 4QFY22, broadly in line with our estimate of US$6,725m although EBIT margin at 25% came in 50bps above our...
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Tata Consultancy Services: Deal Lift-Off, Strong Execution
TCS’ performance highlight was its strong deal bookings of USD 11.3bn, supported by mega deals of ~USD 1.8bn TCV (~0.5/0.8% revenue impact for FY23...
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SK Shieldus IPO - Peer Comparison - Better Top Line Growth, Worse Margin Decline
SK Shieldus (SKS) aims to raise around US$800m via issuing a mix of primary and secondary shares in its Korea IPO. In this note, we undertake a...
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