StrengthTalking point
More profitable than peers
ROE of 48.4% is well above the computers software and consulting median of 21.3%.
Importance 60 / 95 · profitability
Tata Consultancy Services · Research view
Tata Consultancy Services Ltd.
NSE: TCSBSE: 532540ISIN INE467B01029Face value ₹1standalone
₹2,079
+2.13% · 2026-10-01 · 52-wk ₹1,983–₹3,325
Financials to FY2026 · 8 years of history · prices to 2026-10-01consolidatedstandalone
Section 02 · Synthesis
What stands out?
The strongest observations the engine found, ranked. Every line is generated from the filed numbers by a fixed rule — no opinion, no estimate.
StrengthConcernWatchContext
WatchTalking point
Growth slowing
Revenue growth has slowed for 3 consecutive years, from 17.6% to 4.6%.
Importance 57 / 95 · growth
Context
Lower P/E than peers
Trades at 15.04× earnings — 33% below the computers software and consulting median of 22.52×.
Importance 48 / 95 · valuation
Section 03 · The company
Who is this company?
Classified by the exchange under Information Technology › Information Technology › IT - Software › Computers - Software & Consulting.
- Market cap
- ₹7.53 L cr
- FY2026 revenue
- ₹2,20,938 cr
- FY2026 net profit
- ₹49,096 cr
- Net worth
- ₹84,676 cr
- Total debt
- ₹0 crnet cash
- EPS (basic)
- ₹135.70
- Listed
- NSE · BSE
- Reporting
- Ind-ASApr–Mar
Peer set used on this page: 9 computers - software & consulting.
Section 04 · Business performance
Is the business growing?
RevenueNet profit
Watch
Revenue growth has slowed for 3 consecutive years, from 17.6% to 4.6%.
Rule GROWTH_DECELERATING
- Revenue growth per year
- +8.7%over 7 years
- Revenue growth
- +2.8%vs last year
- Net profit growth
- +2.2%vs last year
- Change in net profit since FY19
- +63%
Revenue has compounded at 9.0% a year over 7 years (₹1,46,463 → ₹2,67,021) — steady rather than rapid.
Section 05 · Recent activity
What changed recently?
Quarterly results, the trailing-twelve-months snapshot, and verified corporate actions — kept separate from each other and from the annual story above. Every figure traces to a filed number; nothing here is external news or commentary.
Strength
Q1 FY27 revenue was ₹72,275 cr, up 13.9% from ₹63,437 cr in Q1 FY26 a year earlier.
Rule QTR_REVENUE_GROWTH_YOY
Watch
Q1 FY27 interest (finance cost) was ₹273 cr, up 40.0% from ₹195 cr a year earlier.
Rule QTR_INTEREST_EXPENSE_CHANGE_YOY
Strength
Q1 FY27 revenue of ₹72,275 cr is the highest of the 16 quarters on record for this company.
Rule QTR_REVENUE_AT_RECORD
A. Quarterly results
RevenueNet profit
| Quarter | Revenue | YoY | Net profit | YoY | Net margin |
|---|---|---|---|---|---|
| Q2 FY25 | 64,259 | — | 11,955 | — | 18.6% |
| Q3 FY25 | 63,973 | +5.6% | 12,444 | +12.1% | 19.5% |
| Q4 FY25 | 64,479 | +5.3% | 12,293 | −1.7% | 19.1% |
| Q1 FY26 | 63,437 | +1.3% | 12,819 | +5.9% | 20.2% |
| Q2 FY26 | 65,799 | +2.4% | 12,131 | +1.5% | 18.4% |
| Q3 FY26 | 67,087 | +4.9% | 10,720 | −13.9% | 16.0% |
| Q4 FY26 | 70,698 | +9.6% | 13,784 | +12.1% | 19.5% |
| Q1 FY27 | 72,275 | +13.9% | 13,420 | +4.7% | 18.6% |
B. TTM snapshot
Trailing twelve months to 30 Jun 2026 · sum of the last 4 contiguous quarters
- Revenue
- ₹2,75,859 crTTM
- EBITDA
- ₹78,389 crTTM
- EBIT
- ₹72,951 crTTM
- PBT
- ₹66,452 crTTM
- Net profit
- ₹50,055 crTTM
C. Corporate actions
14 Oct 2026DividendInterim Dividend
15 Jul 2026DividendInterim Dividend - Rs. - 12.0000 — ₹12.00/share
25 May 2026DividendFinal Dividend - Rs. - 31.0000 — ₹31.00/share
16 Jan 2026DividendInterim Dividend - Rs. - 11.0000 — ₹11.00/share
16 Jan 2026DividendSpecial Dividend - Rs. - 46.0000 — ₹46.00/share
15 Oct 2025DividendInterim Dividend - Rs. - 11.0000 — ₹11.00/share
16 Jul 2025DividendInterim Dividend - Rs. - 11.0000 — ₹11.00/share
4 Jun 2025DividendFinal Dividend - Rs. - 30.0000 — ₹30.00/share
17 Jan 2025DividendSpecial Dividend - Rs. - 66.0000 — ₹66.00/share
17 Jan 2025DividendInterim Dividend - Rs. - 10.0000 — ₹10.00/share
18 Oct 2024DividendInterim Dividend - Rs. - 10.0000 — ₹10.00/share
19 Jul 2024DividendInterim Dividend - Rs. - 10.0000 — ₹10.00/share
16 May 2024DividendFinal Dividend - Rs. - 28.0000 — ₹28.00/share
19 Jan 2024DividendSpecial Dividend - Rs. - 18.0000 — ₹18.00/share
19 Jan 2024DividendInterim Dividend - Rs. - 9.0000 — ₹9.00/share
24 Nov 2023BuybackBuy Back of Shares
19 Oct 2023DividendInterim Dividend - Rs. - 9.0000 — ₹9.00/share
20 Jul 2023DividendInterim Dividend - Rs. - 9.0000 — ₹9.00/share
15 Jun 2023DividendFinal Dividend - Rs. - 24.0000 — ₹24.00/share
16 Jan 2023DividendSpecial Dividend - Rs. - 67.0000 — ₹67.00/share
16 Jan 2023DividendInterim Dividend - Rs. - 8.0000 — ₹8.00/share
17 Oct 2022DividendInterim Dividend - Rs. - 8.0000 — ₹8.00/share
14 Jul 2022DividendInterim Dividend - Rs. - 8.0000 — ₹8.00/share
25 May 2022DividendFinal Dividend - Rs. - 22.0000 — ₹22.00/share
22 Feb 2022BuybackBuy Back of Shares
Section 06 · Business performance
Is it becoming more profitable?
EBITDA marginNet margin
Strength
ROE of 48.4% is well above the computers software and consulting median of 21.3%.
Rule ROE_ABOVE_PEER_MEDIAN
- EBITDA margin now
- 32.7%
- 8-year range
- 29.6–34.6%
- ROE FY2026
- 61.3%
- ROCE FY2026
- 84.8%
ROE declined from 52.2% to 48.4% year on year.
Section 07 · Financial health
Is financial health improving?
Net worth (shareholders' funds)
Strength
Free cash flow has been positive in 6 of the last 6 years.
Rule FCF_CONSISTENTLY_POSITIVE
Operating cash flowNet profit
- Total debt
- ₹0 crnet cash
- Operating cash flow ÷ net profit
- 0.93×FY2026
- Free cash flow
- ₹42,576 cr
- Current ratio
- 2.01×
Section 08 · Relative position
How does it compare with peers?
Ranked against 9 computers - software & consulting (FY2026, consolidated).
Revenue growth
TCS · 8th of 9 · set median 11.2%
EBITDA margin
TCS · 1st of 9 · set median 20.8%
Return on equity
TCS · 1st of 9 · set median 21.3%
P/E ratio
TCS · 3rd of 9 · set median 22.5×
Context
Trades at 15.04× earnings — 33% below the computers software and consulting median of 22.52×.
Rule PE_BELOW_PEERS
- P / E
- 15.0×TTM to Jun 26
- P / B
- 6.9×latest book
- P / S
- 2.7×TTM sales
- Earnings yield
- 6.7%TTM to Jun 26
On the trailing twelve months. Last full year: P/E 15.2× · P/S 2.8× · ROE 48.4%.
Section 09 · The stock
How has the stock performed?
Long-term price performance is shown above.
- 1-year return
- −28.6%
- 3-year return
- −41.1%
- 5-year return
- −44.3%
- From 52-wk high
- −37.5%
Section 10 · Technical data
What does the technical data say?
Price-action indicators as of 2026-10-01. Secondary to the fundamentals above — included for timing context, not as a signal.
- vs 50-day avg
- Below₹2,280
- vs 200-day avg
- Below₹2,524
- RSI (14)
- 36.9neutral
- MACD histogram
- -10.2
- From 52-wk high
- −37.5%
- From 52-wk low
- +4.9%
- 30-day volatility
- 25.6%ann.
- 6-month return
- −13.0%
Section 11 · Open questions
What should I investigate further?
Observations the engine tagged watch or deteriorating — prompts for your own research, not conclusions.
- WatchGrowth slowingRevenue growth has slowed for 3 consecutive years, from 17.6% to 4.6%.GROWTH_DECELERATING · conviction 57
- ConcernReturns decliningROE declined from 52.2% to 48.4% year on year.ROE_DETERIORATED_YOY · conviction 44
- Cash-flow-statement facts are unavailable for FY2019, FY2020 — those filings predate SEBI's Cash Flow Statement disclosure requirement. All other loaded years carry full P&L, balance sheet and cash-flow data.
Section 12 · Reference
The numbers
The full statements, kept deliberately secondary. Every figure traces to a BSE Integrated Filing (inline XBRL); ratios are recomputed from the normalised facts.
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,23,170 | 1,31,306 | 1,35,963 | 1,60,341 | 1,90,354 | 2,02,359 | 2,14,853 | 2,20,938 |
| Total income | 1,30,797 | 1,39,388 | 1,41,363 | 1,67,827 | 1,95,682 | 2,09,632 | 2,24,495 | 2,30,974 |
| EBITDA | 42,591 | 45,435 | 45,710 | 53,731 | 56,325 | 63,120 | 67,571 | 72,285 |
| Profit before tax | 40,705 | 41,991 | 40,902 | 49,723 | 51,690 | 57,602 | 62,648 | 62,806 |
| Net profit | 30,065 | 33,260 | 30,960 | 38,187 | 39,106 | 43,559 | 48,057 | 49,096 |
| EPS (₹) | 79.3 | 88.6 | 82.8 | 103.2 | 106.9 | 119.4 | 132.8 | 135.7 |
| Net worth | 78,898 | 74,368 | 74,794 | 77,173 | 74,538 | 72,120 | 75,617 | 84,676 |
| Total debt | 33 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating cash flow | — | — | 33,822 | 36,127 | 37,029 | 39,142 | 40,816 | 45,597 |
| Free cash flow | — | — | 31,751 | 34,009 | 35,017 | 37,436 | 38,451 | 42,576 |
| Ratio | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| Growth | ||||||||
| Revenue growth YoY | — | 6.6 | 3.5 | 17.9 | 18.7 | 6.3 | 6.2 | 2.8 |
| Profit growth YoY | — | 10.6 | -6.9 | 23.3 | 2.4 | 11.4 | 10.3 | 2.2 |
| Profitability | ||||||||
| EBITDA margin % | 34.6 | 34.6 | 33.6 | 33.5 | 29.6 | 31.2 | 31.4 | 32.7 |
| Net margin % | 23.0 | 23.9 | 21.9 | 22.8 | 20.0 | 20.8 | 21.4 | 21.3 |
| Return on equity % | 38.1 | 43.4 | 41.5 | 50.3 | 51.6 | 59.4 | 65.1 | 61.3 |
| Return on capital % | 51.8 | 55.8 | 57.2 | 66.1 | 69.1 | 80.8 | 85.8 | 84.8 |
| Leverage & cash | ||||||||
| Debt to equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash flow ÷ profit | — | — | 1.09 | 0.95 | 0.95 | 0.90 | 0.85 | 0.93 |
| Current ratio | 4.18 | 3.30 | 2.92 | 2.49 | 2.36 | 2.20 | 2.10 | 2.01 |