C

Registered Office : 9th Floor, Nirmal Building, Nariman Point, Mumbai 400 021.
Dear Shareholder, Your Company has sustained the business momentum for first half of 2011-12 with a strong all-round growth performance in the July-September quarter. On a half yearly basis, revenues grew to ` 22,430 crore, up 28.1% annually, and net profits were at ` 4,716 crore up 15.7% annually. The July-September quarter was a quarter of superior performance across the board, driven by growth in international revenues by 9% over the previous quarter. Revenues in the second quarter grew to ` 11,633 crore ($2.52 billion), up 7.7% sequentially and 25.3% on an annual basis. Net profits for the second quarter grew by 6.1% annually to ` 2,301 crore up 15.7% annually. Our domain-rich solutions and disciplined execution on the ground have helped us capture business demand across major markets. As an organization, we continue to see strong momentum for our full services strategy as customers focus on agility and growth. The Board of Directors continued to reward shareholders with ` 3 per share interim dividend for the first two quarters of the current financial year. The highlights for the half year ending September 30, 2011 have been: Robust Growth across all major and emerging markets Growth Momentum across all industry units and service lines Sustained improvement in our operating performance through better revenue mix, impeccable project execution, cost optimization and increased employee productivity Several Large deals signed across markets and industries Strong client addition with 59 new customers added during H1 with 1010 active clients Record employee addition with 32,000 professionals added in H1

Despite ambiguities in the external macro environment in Europe and other parts of the world in the short term, we believe that the business momentum will be sustained as customers look to optimize operations or go for growth. We continue to work closely with our customers to add value to their businesses and fulfill their strategic objectives. While different economies may hit macro road bumps, our global customers looking more determined to look for growth opportunities while optimizing operations. As an organization, we have created a nimble structure to help us respond quickly on the ground to stay close and stay relevant to our customers. We had record additions of 32,000 professionals in the first half of the year. We continue to focus on skill development to fulfill the career aspirations of our employees. Your Company continues to be recognized as a leader in business by global organizations. Some of the major awards include: The Company has been listed in Asias Fab 50 companies list published by Forbes for the third consecutive year TCS won Gold SABRE for Executive Leadership Communications TCS BPO received several accolades at the Asias Best Employer Brand Awards The Company won the AON Hewitt Best Employers Award in Singapore TCS was certified Britains Top Employer by the CRF institute GappaGoshti, the Rural Social Networking Platform developed by TCS Innovation Labs won the Aegis Graham Bell Award in the category Innovative Mobile Applications

We continue to make the necessary investments to support our future business growth in different markets as we remain in expansion mode. However, we are also keeping a close watch on economic signals and working to optimize our cost structure in order to be efficient. Given the breadth of our global operations across 45 countries, the recent unprecedented volatility in the foreign currency markets is fresh cause for concern. Your Companys business model remains very relevant for global business today. The management team remains committed to long-term value creation for our customers, shareholders, employees and other stakeholders. I look forward to your continued support. Yours faithfully, N. Chandrasekaran CEO & Managing Director Mumbai, October 17, 2011

A.

Audited Consolidated Financial Results for the Quarter and Six months ended September 30, 2011 (` in Lakhs) Quarter ended September 30, 2011 2010 Six months ended September 30, 2011 2010 2173403 69648 2243051 869310 322026 106875 43970 303143 1645324 597727 41683 639410 1436 637974 21390 139768 161158 476816 5238 471578 492968 19572 1686684 63683 1750367 645024 264414 89208 33399 233154 1265199 485168 16621 501789 1796 499993 86294 86294 413699 6141 30 407528 407528 19572 Year ended March 31, 2011 3604613 127838 3732451 1372610 552921 183655 73526 505429 2688141 1044310 60400 1104710 2648 1102062 183083 183083 918979 12145 30 906804 906804 19572 2420909 3.00 3.00 300.00 11.74 12.83 507356374 25.92 2.00 2.00 200.00 11.06 11.06 508657690 25.99 6.00 6.00 600.00 24.06 25.15 507356374 25.92 4.00 4.00 400.00 20.77 20.77 508657690 25.99 6.00 8.00 14.00 1400.00 0.11 11.00 46.27 46.27 507883589 25.95

INCOME FROM OPERATIONS (a) Information Technology and Consultancy Services (b) Sale of Equipment and Software Licenses (Net of Excise) EXPENDITURE (a) Employee Benefit Expenses (b) Overseas Business Expenses (c) Services rendered by Business Associates and Others (d) Depreciation and Amortization Expense (e) Others Total Expenditure PROFIT FROM OPERATIONS BEFORE OTHER INCOME, INTEREST AND TAXES OTHER INCOME (NET) PROFIT BEFORE INTEREST AND TAXES INTEREST PROFIT BEFORE TAXES PROVISION FOR TAXES (a) Tax effect on dividend from foreign subsidiaries (b) Tax excluding (a) above (c) Total Provision for Taxes [(a)+(b)] PROFIT AFTER TAXES BUT BEFORE MINORITY INTEREST AND SHARE OF PROFIT OF ASSOCIATES MINORITY INTEREST SHARE OF LOSS OF ASSOCIATES NET PROFIT FOR THE PERIOD NET PROFIT FOR THE PERIOD BEFORE EFFECT OF TAX ON DIVIDEND FROM FOREIGN SUBSIDIARIES Paid up Equity Share Capital (Face Value : ` 1 per share) Reserves excluding Revaluation Reserves Dividend per share (par value ` 1 each) Interim dividend on equity shares ( in `) Final dividend on equity shares (in `) Total dividend on equity shares (in `) Total equity dividend percentage Dividend on redeemable preference shares (in `) Preference dividend percentage Basic and diluted earnings per share (in `) Basic and diluted earnings per share before effect of tax on dividend from foreign subsidiaries (in `) Total Public Shareholding Number of shares Percentage of shareholding Promoters and promoter group Shareholding a) Pledged / Encumbered Number of shares Percentage of shares (as a % of the total equity shareholding of promoter and promoter group) Percentage of shares (as a % of the total equity share capital of the company) b) Non-Encumbered Number of shares Percentage of shares (as a % of the total equity shareholding of promoter and promoter group) Percentage of shares (as a % of the total equity share capital of the company)

1128982 34367 1163349 448426 167285 56108 23177 153119 848115 315234 12269 327503 964 326539 21390 72383 93773 232766 2666 230100 251490 19572

889978 38661 928639 341119 139040 49271 17246 121592 668268 260371 7075 267446 1528 265918 46014 46014 219904 2983 216921 216921 19572

3 4 5 6 7 8

9 10 11 12

13 14 15

16

17

18

83100000 5.73 4.25 1366764622 94.27 69.83

222100000 15.33 11.35 1226463306 84.67 62.66

83100000 5.73 4.25 1366764622 94.27 69.83

222100000 15.33 11.35 1226463306 84.67 62.66

203300000 14.03 10.39 1246037407 85.97 63.66

B.

Audited Consolidated Statement of Assets and Liabilities as at September 30, 2011

SOURCES OF FUNDS: SHAREHOLDERS FUNDS : (a) Share Capital (b) Reserves and Surplus MINORITY INTEREST LOAN FUNDS DEFERRED TAX LIABILITIES (NET) TOTAL FUNDS EMPLOYED APPLICATION OF FUNDS: FIXED ASSETS GOODWILL (ON CONSOLIDATION) INVESTMENTS DEFERRED TAX ASSETS (NET) CURRENT ASSETS, LOANS AND ADVANCES : (a) Interest Accrued on Investments (b) Inventories (c) Unbilled Revenues (d) Sundry Debtors (e) Cash and Bank Balances (f) Other Current Assets (g) Loans and Advances CURRENT LIABILITIES AND PROVISIONS : (a) Current Liabilities (b) Provisions NET CURRENT ASSETS [ (10) less (11) ] TOTAL ASSETS (NET) As at As at September 30, September 30, 2011 2010 29572 2734288 2763860 49471 72514 15268 2901113 617757 350593 172982 22739 12360 1832 196659 1022142 703679 583526 2520198 575611 207545 783156 1737042 2901113 29572 2143290 2172862 40753 9448 9627 2232690 488931 321695 344883 16581 7027 2617 145849 706155 359932 4969 444242 1670791 446494 163697 610191 1060600 2232690

(` in Lakhs)
As at March 31, 2011 29572 2420909 2450481 45817 7480 10949 2514727 571627 323200 176267 16018 7397 2282 134885 819884 737809 478735 2180992 467561 285816 753377 1427615 2514727

2 3 4 5 6 7 8 9 10

11

12 13

C.

Consolidated Segment Information (` in Lakhs)

Quarter ended September 30, 2011 2010 507725 90307 141082 148217 276018 1163349 156736 23098 40839 42447 71984 335104 20834 314270 12269 326539 408118 68348 101270 136962 213941 928639 127439 18298 26107 52636 49692 274172 15329 258843 7075 265918 Six months ended September 30, 2011 2010 975413 172152 266769 298079 530638 2243051 775271 129517 191219 256797 397563 1750367 Year ended March 31, 2011 1652660 275176 410505 529245 864865 3732451 517084 70430 107168 184378 227349 1106409 64747 1041662 60400 1102062 As at March 31, 2011 669735 70895 96758 168001 317676 1323065 1173233 2496298

REVENUES BY INDUSTRY PRACTICE Banking, Financial Services and Insurance Manufacturing Retail and Consumer Packaged Goods Telecom Others REVENUES FROM OPERATIONS SEGMENT RESULTS Banking, Financial Services and Insurance Manufacturing Retail and Consumer Packaged Goods Telecom Others Total Unallocable Expenses (Net) Operating income Other Income (Net) PROFIT BEFORE TAXES

SEGMENT CAPITAL EMPLOYED Banking, Financial Services and Insurance Manufacturing Retail and Consumer Packaged Goods Telecom Others Unallocable Assets (Net) Total Capital Employed (Net)

293436 240884 42472 35233 73140 48118 88937 92058 137641 95702 635626 511995 39335 28623 596291 483372 41683 16621 637974 499993 As at September 30, 2011 2010 781318 99343 120649 192967 427295 1621572 1191759 2813331 604828 67655 88117 140827 280994 1182421 1031194 2213615

Note The Group has identified business segments (industry practice) as its primary segment and geographic segment as its secondary segment. Business segments comprise companies providing banking, finance and insurance services, manufacturing companies, companies in retail and consumer packaged goods industries, companies in telecommunication, media and entertainment and others such as energy, resources and utilities, Hi-Tech industry practice, life science and healthcare, s-Governance, travel, transportation and hospitality, products, etc. Previous period figures have been regrouped, wherever necessary.

D.

Audited Financial Results for the Quarter and Six months ended September 30, 2011 (` in Lakhs)
Quarter ended September 30, Six months ended September 30, Year ended March 31,

2011 1 INCOME FROM OPERATIONS (a) Information Technology and Consultancy Services (b) Sale of Equipment and Software Licenses (Net of Excise) 2 EXPENDITURE (a) (b) (c) (d) (e) 3 4 5 6 7 8 9 10 11 E. 1. Employee Benefit Expenses Overseas Business Expenses Services rendered by Business Associates and Others Depreciation and amortization expense Others Total Expenditure PROFIT FROM OPERATIONS BEFORE OTHER INCOME, INTEREST AND TAXES OTHER INCOME (NET) PROFIT BEFORE INTEREST AND TAXES INTEREST PROFIT BEFORE TAXES PROVISION FOR TAXES NET PROFIT AFTER TAXES Reserves excluding Revaluation Reserves Basic and diluted earnings per share (in `) Notes: 16.27 342171 149752 62777 17387 112185 684272 248652 142048 390700 847 389853 71142 318711 903149 29775 932924

2010 691945 34800 726745 253277 125397 44171 12617 88039 523501 203244 10322 213566 1427 212139 30874 181265 9.24

2011 1733332 60948 1794280 662758 288010 114837 33113 219230 1317948 476332 167788 644120 1083 643037 118083 524954 26.79

2010 1313449 54391 1367840 479219 238940 81261 24077 166424 989921 377919 13965 391884 1621 390263 53357 336906 17.16

2011 2817126 110415 2927541 1019031 497994 173572 53782 360591 2104970 822571 49473 872044 2001 870043 113044 756999 1928377 38.61

The consolidated financial results and the financial results of the Company for the quarter and six months ended September 30, 2011 which have been audited by the statutory auditors have been reviewed by the Audit Committee of the Board and have been approved by the Board of Directors at its meeting held on October 17, 2011. Other Income (consolidated) for the quarter and six months ended September 30, 2011 includes foreign exchange loss of ` 7990 lakhs and ` 34 lakhs respectively (Previous period : net loss of ` 4177 lakhs and ` 8895 lakhs respectively). Acquisitions / Divestments : (a) In terms of the shareholders agreement dated March 23, 2006, Phoenix Group Services Limited (formerly known as Pearl Group Services Limited), exercised their put option and sold equity holding of 24% in Diligenta Limited to the Company at a fixed price of ` 22800 lakhs (GBP 30.24 million) in September 2011.Thereby Diligenta Limited becomes a wholly owned subsidiary of the Company. Legal formalities relating to the transfer of shares are in the process of being completed. (b) Tata Consultancy Services Morocco SARL AU, a wholly owned subsidiary, is being voluntarily liquidated. The Board of Directors at its meeting held on October 17, 2011, declared an interim dividend of ` 3 per equity share. Previous period figures have been regrouped, wherever necessary. Information on investors complaints pursuant to Clause 41 of the Listing Agreement for the quarter ended September 30, 2011. Opening Balance 2 Received during the Quarter 52 Resolved during the Quarter 54 Closing Balance 0 For and on behalf of the Board of Directors N. Chandrasekaran CEO & Managing Director

2. 3.

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www.sapprints.com

Mumbai, October 17, 2011