TCS Buyback Record Date 2022


Tata Consultancy Services, the country’s largest software services firm has approved Rs 1,800 crore share buyback with the shares priced at Rs 4,500 apiece. The TCS Buyback record date 2022 program was approved after the software firm had logged a net profit of Rs 8,701 crore in the year-ago period.

Revenue of the IT firm grew 16.3 percent in the quarter under review to Rs 48,885 crore from Rs 42,015 crore in the corresponding period last fiscal year. The company added more than 28,000 employees on a net basis, taking the total number of employees to 5,56,986 as of December 31, 2021.

TCS Buyback Record Date Details

After announcing Rs 1800 Cr share buyback, the IT firm also announced a dividend of Rs 7 per share with the record date being set as 20th January 2022 and the payment date of dividends as 07th February 2022. TCS buyback record date is fixed on Wednesday, 23rd February 2022.

Key Points about TCS Share Buyback

  • Stellar Q3 results helped TCS hit $25 billion in Annual Revenue.
  • The company’s Q3 revenue stood at ₹48,885 Cr with a YoY growth rate of 16.3%.
  • The number of women employees crossed the 200,000 mark.
  • Industry-leading operating margin stood at 25%.
  • The company had a strong client addition globally.
  • Net income at ₹9,769 Cr.
  • Net cash from operations stood at ₹10,853 Cr or 111.1% of net income.
  • Its IT services attrition rate (LTM) in the third quarter stood at 15.3%.
  • With 43,000 freshers getting hired in H1, the company hired 34,000 fresh graduates in Q3 which is higher than its full-year fresher hiring numbers in prior years.
  • Part of the pandemic period and a work from home environment, the company exercised various operating levers in the third quarter to mitigate the higher costs and manage its employee expenses.

Rajesh Gopinathan, CEO and MD quoted, ” The company’s continuous growth momentum is a validation of a collaborative, inside out approach to their customer’s business transformation needs.

Between Dec. 18, 2020, and Jan. 1, 2021, the leading IT firm returned ₹16,000 crores to shareholders in a buyback, wherein Tata Sons tendered shares worth ₹10,000 crores. Also, it includes 5.33 crore equity shares with Tata Sons’ tendering 33,325,118 which were bought back at ₹3,000 apiece. TCS had implanted the same buyback in the years 2017 and 2018 too.

Why Companies Go For Buyback

During a buyback, a company repurchases its shares from existing shareholders, usually at a price higher than the prevailing market rate. As a result, the number of shares outstanding in the market reduces.

2 thoughts on “TCS Buyback Record Date 2022”

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