N Chandrasekaran, Chairman of Tata Consultancy Services, indicated that the IT firm’s economic outlook was “relatively better” for the 2025 fiscal in comparison to previous years. In a letter to shareholders, Chandrasekaran noted, “After two years of recessionary fears, persistently high inflation, and unprecedented monetary tightening, the global macro-outlook looks relatively better now with improving growth, disinflation, and monetary easing in sight.”
Without going into the tangible impact of the monetary easing on TCS, he said that multiple mega trends such as AI, new energy, supply chain and talent will shape the priorities of different industries going forward.
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He took stock of TCS’ FY24 performance: “I am pleased to share with you that your company has crossed annual revenues of ₹2,40,893 crore, a growth of 6.8 per cent over the previous year. With relentless focus on operational excellence, this growth has come at an industry leading operating margin of 24.6* per cent, an increase from 24.1 per cent last year. The order book for FY 2024 came at an all-time high of $42.7 billion.”
Observing that a range of projects will involve implementation of AI capabilities, Chandrasekaran said TCS’ 6,00,000-strong employee base clocked over 51 million learning hours on AI in FY24.
He added that the deployment of AI and generative AI will significantly change operations for financial institutions, healthcare, drug development and even the telecom industry in a significant way.