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1. Company Snapshot

1.a. Company Description

TDCX Inc., together with its subsidiaries, provides outsource contact center services for technology and other blue-chip companies in Singapore, Malaysia, Thailand, the Philippines, Japan, China, Spain, India, Colombia, South Korea, and Romania.It offers digital customer experience solutions, including after-sales service and customer support across various industry verticals, such as travel and hospitality, digital advertising and media, fast-moving consumer goods, technology, financial services, fintech, government and non-governmental organizations, gaming, e-commerce, and education.The company also provides sales and digital marketing services that help its clients to market their products and services to their potential customers in the business-to-consumer and business-to-business markets; and content monitoring and moderation services that create a safe and secure online environment for social media platforms by providing human interaction to content moderation services.


In addition, it offers workspaces to its existing clients; and human resource and administration services.The company was formerly known as TDCX Capital Pte Ltd and changed its name to TDCX Inc.in January 2021.


TDCX Inc.was founded in 1995 and is headquartered in Singapore.TDCX Inc.


operates as a subsidiary of Transformative Investments Pte Ltd.

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1.b. Last Insights on TDCX

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1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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TDCX Sees Global Outsourcing Supercycle Opportunity; Positions Company for Next Wave of Growth with Refreshed Brand

Oct -31

Source: newsfilecorp.com

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TDCX's full year 2023 revenue down 0.9%, or up 3.0% in constant currency terms1

Mar -06

Source: businesswire.com

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TDCX Inc. Enters into Definitive Merger Agreement for Going-Private Transaction

Mar -01

Source: businesswire.com

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TDCX Inc. to Report Fourth Quarter and Full Year 2023 Results

Feb -26

Source: Business Wire

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TDCX Inc. Special Committee Engages Financial Advisor and Legal Counsels

Jan -16

Source: businesswire.com

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TDCX Inc. Announces Receipt of a Preliminary Non-Binding Proposal to Acquire the Remaining Outstanding Class A Ordinary Shares of the Company

Jan -03

Source: businesswire.com

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TDCX Inc. (TDCX) Q3 2023 Earnings Call Transcript

Nov -22

Source: seekingalpha.com

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TDCX Inc. to Report Third Quarter 2023 Results

Nov -07

Source: Business Wire

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (9.06%)

6. Segments

Omnichannel Customer Experiences Solutions

Expected Growth: 10%

TDCX Inc.'s Omnichannel Customer Experiences Solutions growth is driven by increasing demand for seamless customer interactions, advancements in AI-powered chatbots, and rising adoption of cloud-based contact centers. Additionally, the need for personalized customer experiences, expansion into new markets, and strategic partnerships are contributing to the 10% growth.

Sales and Digital Marketing

Expected Growth: 8%

TDCX Inc.'s 8% growth in Sales and Digital Marketing is driven by increasing demand for digital transformation, expansion into new markets, and strategic partnerships. The company's expertise in customer experience and digital marketing solutions, coupled with its ability to leverage data analytics and AI, has enabled it to capitalize on the growing need for businesses to digitize their operations.

Content, Trust and Safety

Expected Growth: 7%

TDCX Inc.'s 7% growth is driven by its content segment, fueled by increasing demand for digital content moderation. Trust and safety initiatives, such as AI-powered risk detection, enhance customer trust, leading to higher adoption rates. Additionally, strategic partnerships and expansion into new markets contribute to the company's growth momentum.

Other Business Process Services and Other Services

Expected Growth: 6%

TDCX Inc.'s Other Business Process Services and Other Services segments exhibit 6% growth driven by increasing demand for digital transformation, outsourcing of non-core functions, and expansion into new markets. Additionally, the company's investments in automation, AI, and analytics capabilities enhance operational efficiency, further fueling growth.

7. Detailed Products

Customer Experience (CX) Solutions

TDCX provides customer experience solutions that enable businesses to deliver exceptional customer service through various channels such as voice, email, chat, and social media.

Sales and Digital Marketing Services

TDCX offers sales and digital marketing services that help businesses acquire new customers, increase revenue, and enhance their online presence.

Content Moderation and Management

TDCX provides content moderation and management services that help businesses manage their online content, ensure brand safety, and maintain a positive online reputation.

Data Annotation and Enrichment

TDCX offers data annotation and enrichment services that enable businesses to prepare high-quality training data for machine learning models and improve their data analytics capabilities.

Back Office and Finance and Accounting (F&A) Services

TDCX provides back office and F&A services that help businesses streamline their operations, reduce costs, and improve efficiency.

8. TDCX Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

TDCX Inc. operates in a niche market with limited substitutes, but the threat of substitutes is still present due to the evolving nature of the industry.

Bargaining Power Of Customers

TDCX Inc. has a diverse customer base, but some large clients have significant bargaining power, which can impact pricing and contract terms.

Bargaining Power Of Suppliers

TDCX Inc. has a diversified supplier base, and the company's scale and reputation give it significant bargaining power over its suppliers.

Threat Of New Entrants

While there are barriers to entry in the industry, new entrants can still disrupt the market, and TDCX Inc. must continue to innovate to stay ahead.

Intensity Of Rivalry

The industry is highly competitive, with several established players, and TDCX Inc. must focus on differentiating itself through its services and customer relationships.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 6.29%
Debt Cost 5.27%
Equity Weight 93.71%
Equity Cost 5.27%
WACC 5.27%
Leverage 6.71%

11. Quality Control: TDCX Inc. passed 8 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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Growth: 4.9

Quality: 6.1

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Momentum: 10.0

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A-Score: 5.8/10

Value: 6.5

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Quality: 4.6

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Serco

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Quality: 3.0

Yield: 3.1

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TDCX

A-Score: 5.1/10

Value: 5.7

Growth: 7.8

Quality: 8.1

Yield: 0.0

Momentum: 6.0

Volatility: 3.0

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A-Score: 4.9/10

Value: 5.6

Growth: 4.1

Quality: 5.2

Yield: 4.0

Momentum: 2.5

Volatility: 8.0

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

7.13$

Current Price

7.13$

Potential

-0.00%

Expected Cash-Flows