If you had bought 1 share of TCS in its IPO, this is how much money you would have now
PremiumChairman N Chandrasekaran also said the company paid ₹33,873 crore through dividend and buyback in FY21
Tata Consultancy Services (TCS) chairman N Chandrasekaran, at the 26th Annual General Meeting (AGM), on Thursday had said that the company saw over 3,000% return on their investment since company's listing in 2004.
Speaking at the conference, N Chandrasekaran said, "If you had invested in one TCS share at the issue price of ₹850 in the IPO in 2004, the value of that investment today in a period of 17 years would be around Ra 28,000, a return of over 3000% on your investment."
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He also said the company paid ₹33,873 crore through dividend and buyback in FY21. TCS paid ₹16,000 crore alone via a buyback.
Moreover, India's leading IT services firm returned 95% of free cash flow to the shareholders in the last financial year.
On theCovid-relief front, Chandrasekaran said that group companies have collectively extended help of ₹2,500 crore towards COVID-19 relief across both the waves of the pandemic that started in March 2020.
He said more than the financial commitments, the work done on the ground by the Tata group companies, like helping build new hospitals and expanding oxygen capacity, has been the focus area.
Citing examples, Chandrasekaran said the group has helped add 3,300 beds in hospitals, participated in the construction of two hospitals and increased oxygen capacity by 1,100 metric tonnes a day, which was 10 per cent of the total installed capacity nationally.
"We hope there will not be a big disruption of COVID 3 (third wave) but one thing we have to learn is that the virus seems to be one step ahead of us. So we need to be very cautious and be prepared for any situation," he emphasised.
Chandrasekaran also said the group supports a slew of sporting activities like athletics, hockey and football, and will continue to do so.
Recently, TCS kickstarted the earnings season in April by reporting a 14.9% rise in net profit at ₹9,246 crore for the quarter ended March, 2021 as compared to ₹8,049 crore in the same quarter last year. The company's revenue grew 9.4% to ₹43,705 crore from ₹39,946 crore in the corresponding period last fiscal, it added. The company's constant currency growth came at 4.2% quarter-on-quarter (QoQ) and 5.9% YoY.
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