TCS logo

TCS

TCS NSE

Key Fundamentals

LargecapComputer Software & ConsultingInformation Technology
Market Cap
8.0L Cr
Volatility
Moderate
P/E Ratio
15.99
EBITDA
₹76,800 Cr
Return on Equity
45.59%
Debt to Equity
0.11
Book Value
₹296.61
EPS
₹131.54
52W High
₹3,350
52W Low
₹1,976.8

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Strengths

2
  • Company has a good return on equity (ROE) track record: 3 Years ROE 51.9%
  • Company has been maintaining a healthy dividend payout of 77.5%

Weaknesses

2
  • Stock is trading at 7.43 times its book value
  • The company has delivered a poor sales growth of 10.2% over past five years.

Growth Rate

Revenue Growth
4.68% lower than 3Y
Net Income Growth
1.35% lower than 3Y
Cash Flow Change
6.51% lower than 3Y
ROE
-10.52% lower than 3Y
ROCE
-11.43% higher than 3Y
EBITDA Margin (Avg.)
2.8% higher than 3Y

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 2d ago
AI opinion · based on fundamentals
Risk medium

TCS commands a market cap of ₹8,00,936 Cr with a PE of 16x and a price-to-book of 7.47x. The company delivers a consistently high ROE of 52% (last year) and maintains a 77.5% dividend payout, though its stock has declined 29% over the past year and revenue growth has remained in single digits at 8% TTM.

Bull Case 7
  • Exceptional return on equity at 52% over the last year and a 3-year average of 52%, reflecting highly efficient capital deployment
  • Consistent profit compounder with 8-9% compounded profit growth across 3-year, 5-year, and 10-year horizons, demonstrating earnings resilience
  • Healthy dividend payout ratio of 77.5%, providing steady cash returns to shareholders with a current yield of 0.54%
  • PE ratio of 16x is well below TCS's historical trading range, suggesting the valuation has compressed significantly from prior levels
  • Long-term stock CAGR of 6% over 10 years alongside 9% compounded sales growth over the same period shows a track record of sustained value creation
  • TTM profit growth of 9% outpaces TTM sales growth of 8%, indicating margin stability or slight expansion even in a slower growth environment
  • 10-year compounded profit growth of 8% and sales growth of 9% demonstrate a business model with durable earnings power across multiple economic cycles
Bear Case 7
  • Stock has declined 29% over the past 1 year, significantly underperforming broader markets and indicating sustained selling pressure
  • 3-year stock CAGR of -15% and 5-year CAGR of -10% show prolonged periods of negative shareholder returns
  • Trading at 7.47x book value, which is elevated and leaves limited margin of safety if earnings growth slows further
  • 5-year compounded sales growth of only 10.2% is modest for a large-cap IT services company, reflecting demand headwinds in key markets
  • TTM revenue growth of 8% represents a deceleration from the 10% five-year average, suggesting a slowing growth trajectory
  • Dividend yield of 0.54% is relatively low in absolute terms despite the high payout ratio, limiting income appeal at current prices
  • 3-year compounded sales growth of just 6% indicates a meaningful slowdown in the medium-term revenue momentum

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 2h ago
Headwinds 4
  • Five-session losing streak, down 24.85% YoY Sep 07

    TCS fell 1.53% to ₹2,268.8 for a fifth consecutive session amid Iran-US tensions and crude oil volatility. Stock has tumbled 24.85% in one year vs Nifty's 4.11% decline, with IT sector emerging as worst performer.

  • Senior variable pay slashed to 60-70% Aug 27

    TCS cut mid and senior employee variable payouts to 60-70% in Q1FY27 as operating margins slipped 130bps sequentially to 24%, driven by 170bps impact from annual salary revisions. High performer attrition running at 16.5% with AI/cloud roles seeing 18-25% churn.

  • Top-10 firms lose ₹1L cr mcap Aug 16

    TCS was the biggest loser among top-10 firms, with market cap eroding by ₹34,263 crore to ₹8,53,507 crore in a single week amid elevated crude prices and geopolitical uncertainty.

  • MHP revenue declining, margin risk Aug 25

    MHP's revenues declined from €830M (CY24) to €742M (CY25) amid EU automotive headwinds. Revenue per employee ~$200K with onsite-centric model suggests low margins, and brokerages see up to 20% downside for TCS shares.

Positives 7
  • MHP acquisition + €1.25B Porsche deal Aug 25

    TCS acquires Porsche's MHP (4,500 employees, €742M revenue) for €320M and signs a five-year €1.25B AI strategic partnership. Deal valued at conservative 0.43x revenue and could add 2-3% to TCS revenue with AI Mobility Centre of Excellence for Porsche.

  • Best Buy GCC win over Accenture Sep 01

    TCS beat Accenture to win Best Buy's India GCC operations in a five-year, ₹2,000 crore deal covering 600 employees, expanding an existing $75-100M annual relationship into data, analytics and AI services.

  • HyperVault 1GW AI data centre campus Sep 05

    TCS subsidiary HyperVault secured 264 acres in Hyderabad for a ₹70,000 crore AI data centre campus targeting 1GW capacity, with TPG investing up to ₹8,820 crore for 27.5-49% stake. Targets June 2028 launch and 7,000 jobs.

  • METRO AG global AI transformation Sep 03

    TCS selected as strategic partner by METRO AG (€32.4B sales, 30+ countries, 84,000 employees) for AI-driven IT consolidation and transformation across Europe and Asia in a multi-year engagement.

  • Odisha OSWAS 3.0 govt contract Sep 08

    TCS won ₹122.6 crore contract from Government of Odisha for AI-enabled OSWAS 3.0 digital governance platform supporting 4,600+ government offices and 50,000 users statewide.

  • Agentic AI pharma platform launch Aug 17

    TCS unveiled TCS ADD AgentHub for pharma R&D, promising up to 40% efficiency gains in clinical data management and 30% cost savings in safety case processing.

  • TCS-Porsche AI industry signal Aug 25

    The MHP acquisition signals a broader Indian IT trend of acquiring client tech units for growth, with TCS's AI pipeline at $2.6B annualized run rate expanding 13.6% sequentially in Q1 FY27.

Neutral 4
  • Lights-out factory lab in Pune Sep 10

    TCS launched India's first lights-out factory lab at Sahyadri Park campus in Pune, featuring a fully robotic battery pack assembly line using AI, digital twins and robotics for autonomous manufacturing.

  • AI creative studio in London Sep 07

    TCS opened a 4,500 sq ft AI-native creative engineering studio in London, part of its commitment to create 5,000 UK jobs over three years, following a similar 2025 New York launch.

  • HyperVault strategic analysis Sep 05

    TCS's ₹70,000 crore HyperVault bet represents a shift from asset-light to hybrid model. Annual capex historically ~₹4,000 crore; data centre ROCE typically 12-18% vs TCS services at 50%+, but AI centres can generate 3-5x higher revenue per MW.

  • MHP regulatory approvals pending Aug 25

    The €320M MHP acquisition requires EU and German regulatory approvals with expected closure in 3-4 months, implying consolidation from Q4FY27 with 2.4-2.6% inorganic QoQ growth.

TL;DR: TCS is making aggressive strategic bets on AI infrastructure and acquisitions — the €1.25B Porsche partnership, ₹70,000 crore HyperVault data centre, and Best Buy GCC win signal strong deal momentum with $2.6B annualized AI pipeline. However, the stock has significantly underperformed (-24.85% YoY), margins are under pressure at 24% with senior pay cuts, and MHP's declining revenues add integration risk. The trend is cautiously improving on deal flow and AI positioning, but near-term headwinds from geopolitics, margin compression and execution risks on multiple large bets remain key watchpoints.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
59,381
59,692
60,583
61,237
62,613
64,259
63,973
64,479
63,437
65,799
67,087
70,698
72,275
Expenses
44,383
43,946
44,195
44,073
45,951
47,528
46,939
47,499
46,562
47,821
48,818
51,422
53,719
Operating Profit
14,998
15,746
16,388
17,164
16,662
16,731
17,034
16,980
16,875
17,978
18,269
19,276
18,556
OPM %
25%
26%
27%
28%
27%
26%
27%
26%
27%
27%
27%
27%
26%
Other Income
1,397
1,006
-96
1,157
962
729
1,243
1,028
1,660
-268
-2,273
757
900
Interest
163
159
230
226
173
162
234
227
195
229
538
265
273
Depreciation
1,243
1,263
1,233
1,246
1,220
1,266
1,377
1,379
1,361
1,413
1,380
1,406
1,239
PBT
14,989
15,330
14,829
16,849
16,231
16,032
16,666
16,402
16,979
16,068
14,078
18,362
17,944
Tax %
26%
26%
25%
26%
25%
25%
25%
25%
24%
24%
24%
25%
25%
Net Profit
11,120
11,380
11,097
12,502
12,105
11,955
12,444
12,293
12,819
12,131
10,720
13,784
13,420
EPS in Rs
30.26
31
30.56
34.37
33.28
32.92
34.22
33.79
35.27
33.37
29.45
37.92
36.9
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
94,648
1,08,646
1,17,966
1,23,104
1,46,463
1,56,949
1,64,177
1,91,754
2,25,458
2,40,893
2,55,324
2,67,021
2,75,859
Expenses
70,167
77,969
85,655
90,588
1,06,957
1,14,840
1,17,631
1,38,697
1,66,199
1,76,597
1,87,917
1,94,623
2,01,780
Operating Profit
24,482
30,677
32,311
32,516
39,506
42,109
46,546
53,057
59,259
64,296
67,407
72,398
74,079
OPM %
26%
28%
27%
26%
27%
27%
28%
28%
26%
27%
26%
27%
27%
Other Income
3,720
3,084
4,221
3,642
4,311
4,592
1,916
4,018
3,449
3,464
3,962
-124
-884
Interest
104
33
32
52
198
924
637
784
779
778
796
1,227
1,305
Depreciation
1,799
1,888
1,987
2,014
2,056
3,529
4,065
4,604
5,022
4,985
5,242
5,560
5,438
PBT
26,298
31,840
34,513
34,092
41,563
42,248
43,760
51,687
56,907
61,997
65,331
65,487
66,452
Tax %
24%
24%
24%
24%
24%
23%
26%
26%
26%
26%
25%
24%
—
Net Profit
20,060
24,338
26,357
25,880
31,562
32,447
32,562
38,449
42,303
46,099
48,797
49,454
50,055
EPS in Rs
50.68
61.58
66.71
67.46
83.87
86.19
87.67
105
115
127
134
136
138
Div. Payout %
78%
35%
35%
37%
36%
85%
43%
41%
100%
58%
94%
81%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
196
197
197
191
375
375
370
366
366
362
362
362
Reserves
50,439
70,875
86,017
84,937
89,071
83,751
86,063
88,773
90,058
90,127
94,394
1,06,878
Borrowings
358
245
289
247
62
8,174
7,795
7,818
7,688
8,021
9,392
11,283
Other Liabilities
22,325
16,974
15,830
19,751
24,393
27,827
35,764
43,967
44,747
46,962
54,501
62,644
Total Liabilities
73,318
88,291
1,02,333
1,05,126
1,13,901
1,20,127
1,29,992
1,40,924
1,42,859
1,45,472
1,58,649
1,81,167
Fixed Assets
11,638
11,774
11,701
11,973
12,290
20,928
21,021
21,298
20,515
19,604
23,053
31,343
CWIP
2,766
1,670
1,541
1,278
963
906
926
1,205
1,234
1,564
1,546
2,665
Investments
1,662
22,822
41,980
36,008
29,330
26,356
29,373
30,485
37,163
31,762
30,964
33,988
Other Assets
57,252
52,025
47,111
55,867
71,318
71,937
78,672
87,936
83,947
92,542
1,03,086
1,13,171
Total Assets
73,318
88,291
1,02,333
1,05,126
1,13,901
1,20,127
1,29,992
1,40,924
1,42,859
1,45,472
1,58,649
1,81,167
Figures in ₹ Crores

Cash Flow

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
19,369
19,109
25,223
25,067
28,593
32,369
38,802
39,949
41,965
44,338
48,908
52,094
Investing
-1,807
-5,010
-16,895
3,104
1,645
8,968
-7,956
-738
548
6,091
-2,144
-11,886
Financing
-17,168
-9,666
-11,026
-26,885
-27,897
-39,915
-32,634
-33,581
-47,878
-48,536
-47,438
-42,133
Net Cash Flow
394
4,433
-2,698
1,286
2,341
1,422
-1,788
5,630
-5,365
1,893
-674
-1,925
Free Cash Flow
16,426
17,144
23,270
23,263
26,461
29,281
35,663
36,985
38,902
41,688
44,994
48,013
CFO/OP
110
87
103
100
98
91
103
97
93
88
96
92
Figures in ₹ Crores

Ratios

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
79
81
70
74
68
71
67
80
81
81
84
93
Cash Conversion Cycle
79
81
70
74
68
71
67
80
81
81
84
93
Working Capital Days
33
62
62
61
70
64
59
33
30
34
34
38
ROCE %
50%
51%
44%
39%
47%
47%
49%
54%
59%
64%
65%
63%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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56 extracted metrics + investor summaries across FY15–FY27.

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Shareholding Pattern

Others0.78%Promot.71.77%Public4.92%FIIs9.06%DIIs13.47%As ofJun 2026

Documents

Frequently Asked Questions about TCS

What does Tata Consultancy Services Ltd do?
Tata Consultancy Services is the flagship company and a part of Tata group. It is an IT services, consulting and business solutions organization that has been partnering with many of the world's largest businesses in their transformation journeys for over 50 years. TCS offers a consulting-led, co...
Where is Tata Consultancy Services Ltd (TCS) listed?
Tata Consultancy Services Ltd trades as TCS on the NSE and under code 532540 on the BSE.
Which sector does Tata Consultancy Services Ltd belong to?
Tata Consultancy Services Ltd is classified under the Information Technology sector, in the IT - Software industry.
What is the market capitalisation of Tata Consultancy Services Ltd?
Tata Consultancy Services Ltd has a market capitalisation of ₹8,00,936 Cr, which places it in the Large Cap band.
What is the PE ratio of Tata Consultancy Services Ltd?
Tata Consultancy Services Ltd trades at a PE ratio of 15.99, on earnings per share of ₹131.54, against a book value of ₹296.61 per share.
What is the 52-week high and low of Tata Consultancy Services Ltd?
Over the last 52 weeks Tata Consultancy Services Ltd has traded between ₹1,976.8 and ₹3,350.
Does Tata Consultancy Services Ltd pay dividends?
Tata Consultancy Services Ltd has a dividend yield of 0.54%.
What is the Return on Equity (ROE) of Tata Consultancy Services Ltd?
Tata Consultancy Services Ltd reported a return on equity of 45.59%. Its debt-to-equity ratio is 0.11.

Company Information

Tata Consultancy Services is the flagship company and a part of Tata group. It is an IT services, consulting and business solutions organization that has been partnering with many of the world's largest businesses in their transformation journeys for over 50 years. TCS offers a consulting-led, cognitive powered, integrated portfolio of business, technology and engineering services and solutions. [1]

Website tcs.com
CEO Mr. K. Krithivasan B.E, M.Tech.
Employees 6,07,979
Listed 2004-08-25
Face Value ₹ 1
Issued Size 3,61,80,87,518

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