Tata Consultancy Services Ltd.

•

tcs.comBSE: 532540NSE: TCS

Market Cap₹ 7,96,703 Cr.

Current Price

High / Low₹ 3,350 / 1,977

Stock P/E16.0

Book Value₹ 334

Price to Book7.96

Dividend Yield5.00 %

ROCE66.2 %

ROE49.1 %

Face Value₹ 1

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Banking, Financial Services and Insurance: 38.7% • Retail and Distribution: 15.9% • Communication, Media and Technology: 14.8%

AI Sector View

AI GENERATED

Information Technology

Buy

IT is supported by a still-expanding services backdrop and a weaker rupee. Export of services grew 13.0% YoY (2026-06), services PMI was 54.1 (Aug/26), and the currency at 95.23 (Sep/26) is depreciated versus the previous 95.16, which helps INR translation of export revenues. FPI positioning is only neutral-to-soft with net 3-month flow of INR -5 crore to 2026-08-31, so the positive stance is primarily macro-driven.

Confidence

68%

View full sector analysis →

PROS

Company is almost debt free
Company has a healthy return on capital (ROCE) of 69.2%
Company has a good return on equity (ROE) track record: 3 Years ROE 51.0%
Company has consistently been profitable over the last 5 years
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.01x)

CONS

Stock is trading at 8.0x its book value
Recurring exceptional / one-off items are inflating headline profit
Company has delivered a poor profit growth of 8.7% over past five years
Expensive relative to growth - PEG of 3.0

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Information TechnologyITIT - Software

Part ofNIFTY IT NIFTY 50 NIFTY100 QUALTY30 NIFTY DIV OPPS 50 NIFTYLARGEMIDCAP250

S.No.	Name
1.	TCS	2202.00	16.00	796702.87	5.00	13420.00	4.69	72275.00	13.93	66.25	25.67
2.	INFY	1038.20	13.91	421325.69	4.62	7775.00	12.29	48211.00	14.03	42.84	23.66
3.	HCLTECH	1207.00	18.80	327539.38	4.47	4626.00	20.34	34579.00	13.94	31.20	19.87
4.	WIPRO	167.50	12.55	165902.38	6.57	3356.30	0.59	24478.60	10.59	18.49	18.93
5.	TECHM	1539.50	29.38	150891.59	3.31	1486.30	31.67	15711.90	17.68	23.04	17.43
6.	LTM	4301.15	24.39	127581.28	1.74	1468.60	17.06	11608.00	17.96	30.25	17.75
7.	OFSS	11760.00	30.01	102409.76	3.40	1415.50	120.52	3125.20	68.73	45.50	60.04
8.	PERSISTENT	5537.45	45.42	87353.27	0.72	483.04	13.67	4303.23	29.09	35.09	16.19
9.	COFORGE	1847.40	46.58	81835.77	0.86	531.70	49.19	5527.70	49.86	24.70	19.14
10.	MPHASIS	2294.10	22.92	43790.98	2.70	489.51	10.82	4384.05	17.46	23.31	18.15
11.	LTTS	3334.95	26.80	35379.24	1.74	357.10	12.97	2940.10	11.47	27.70	18.65
12.	TATATECH	761.75	55.53	30931.00	1.54	180.75	6.15	1664.63	33.78	19.56	16.64

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	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
	44,383	43,946	44,195	44,073	45,951	47,528	46,939	47,499	46,562	47,821	48,818	51,422	55,231
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	17,044
OPM %	25.26%	26.38%	27.05%	28.03%	26.61%	26.04%	26.63%	26.33%	26.60%	27.32%	27.23%	27.27%	23.58%
	1,397	1,006	-96	1,157	962	729	1,243	1,028	1,660	-268	-2,273	757	2,236
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
Profit before Tax	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 %	25.81%	25.77%	25.17%	25.80%	25.42%	25.43%	25.33%	25.05%	24.50%	24.50%	23.85%	24.93%	25.21%
Net Profit	11,120	11,380	0	0	12,105	11,955	12,444	12,293	12,819	12,131	10,720	13,784	13,420
	30.26	31.00	30.29	34.37	33.28	32.92	34.21	33.79	35.27	33.37	29.45	37.92	36.90

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	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
	85,655	90,588	1,06,957	1,14,840	1,17,631	1,38,706	1,66,360	1,76,597	1,87,917	1,95,234	2,03,292
Operating Profit	32,311	32,516	39,506	42,109	46,546	53,048	59,098	64,296	67,407	71,787	72,567
OPM %	27.39%	26.41%	26.97%	26.83%	28.35%	27.66%	26.21%	26.69%	26.40%	26.88%	26.31%
	4,221	3,642	4,311	4,592	1,916	4,027	3,610	3,464	3,962	487	452
Interest	32	52	198	924	637	784	779	778	796	1,227	1,305
Depreciation	1,987	2,014	2,056	3,529	4,065	4,604	5,022	4,985	5,242	5,560	5,438
Profit before Tax	34,513	34,092	41,563	42,248	43,760	51,687	56,907	61,997	65,331	65,487	66,452
Tax %	23.63%	24.09%	24.06%	23.20%	25.59%	25.61%	25.66%	25.64%	25.31%	24.48%	24.67%
Net Profit	26,357	25,880	31,562	32,447	32,562	38,449	42,303	46,099	48,797	49,454	50,055
EPS	133.41	67.10	83.05	86.19	86.71	103.62	115.19	126.82	134.12	135.94	—
Dividend Payout %	35.22%	36.98%	35.75%	84.65%	43.35%	41.06%	99.86%	57.56%	93.94%	80.92%	—

COMPOUNDED SALES GROWTH

10 Years:: 9%
5 Years:: 10%
3 Years:: 6%

COMPOUNDED PROFIT GROWTH

10 Years:: 7%
5 Years:: 9%
3 Years:: 5%

STOCK PRICE CAGR

10 Years:: 7%
5 Years:: -10%
3 Years:: -15%
1 Year:: -30%

RETURN ON EQUITY

10 Years:: 42%
5 Years:: 49%
3 Years:: 51%
Last Year:: 49%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	197	191	375	375	370	366	366	362	362	362
Minority Interest	366	402	453	623	675	707	782	830	1,015	1,238
	86,017	84,937	89,071	83,751	86,063	88,773	90,058	90,127	94,394	1,06,878
	930	1,406	1,362	7,668	7,754	7,824	7,333	7,137	8,810	10,588
Trade Payables	4,905	5,094	6,292	6,740	7,860	8,045	10,515	9,981	13,909	14,808
	8,009	10,817	14,734	18,914	24,106	32,091	31,290	34,609	37,561	44,033
Total Liabilities	1,00,424	1,02,847	1,12,287	1,18,071	1,26,828	1,37,806	1,40,344	1,43,046	1,56,051	1,77,907
	11,701	11,973	12,290	20,928	21,021	21,298	20,515	19,604	23,053	31,343
Capital Work in Progress	1,541	1,278	963	906	926	1,205	1,234	1,564	1,546	2,665
	41,980	36,008	29,330	26,356	29,373	30,485	37,163	31,762	30,964	33,988
	21	26	10	5	8	20	28	28	21	29
	0	0	0	0	0	0	0	53,577	59,046	67,714
Cash & Bank	4,149	7,161	12,848	9,666	9,329	18,221	11,032	13,286	15,463	12,908
	41,032	46,401	56,846	60,210	66,171	66,577	70,372	23,225	25,958	29,260
Total Assets	1,00,424	1,02,847	1,12,287	1,18,071	1,26,828	1,37,806	1,40,344	1,43,046	1,56,051	1,77,907

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	33,169	32,676	38,551	38,215	47,894	51,435	54,931	44,338	48,908	52,094
Cash from Investing	-16,732	2,886	1,596	8,565	-8,129	-897	39	6,026	-2,318	-12,845
Cash from Financing	-11,026	-26,885	-27,897	-39,915	-32,634	-33,581	-47,878	-48,536	-47,438	-42,133
	-2,535	1,068	2,292	1,019	-1,961	5,471	-5,874	1,828	-848	-2,884

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	71.77	71.77	71.77	71.77	71.77	71.77	71.77	71.77	71.77
	12.35	12.66	12.68	12.04	11.48	10.33	10.37	9.66	9.07
	11.00	10.86	10.85	11.49	11.95	12.64	12.81	13.34	13.41
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	4.82	4.67	4.64	4.64	4.75	5.20	4.98	5.16	5.69

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-09

Updates

2026-09-09 - Tata Consultancy Services Limited has informed the Exchange regarding 'Press Release - TCS launches India's first lights-out factory lab to advance AI-first manufacturing'.

2026-09-08

Updates

2026-09-08 - Tata Consultancy Services Limited has informed the Exchange regarding 'Press Release - TCS wins Rs 122 crore bid to build AI-enabled digital governance platform for Odisha Government'.

2026-09-07

Updates

2026-09-07 - Tata Consultancy Services Limited has informed the Exchange regarding 'Press Release - TCS launches AI-native creative engineering studio in the UK'.

2026-09-05

General Updates

2026-09-05 - Press Release titled TCS HyperVault to establish large-scale AI data center campus in Telangana being issued by HyperVault AI Data Center Limited, a subsidiary of the Company.

2026-09-03

Updates

2026-09-03 - Tata Consultancy Services Limited has informed the Exchange regarding 'Press Release - TCS to harmonise Metro's IT application landscape and support scalable growth'.

2026-08-26

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-26 - Tata Consultancy Services Limited has informed the Exchange about Schedule of meet

2026-08-24

Bagging/Receiving of orders/contracts

2026-08-24 - Tata Consultancy Services Limited has informed the Exchange about Bagging/Receiving of orders/contracts

2026-08-24

Press Release

2026-08-24 - Tata Consultancy Services Limited has informed the Exchange regarding a press release dated August 24, 2026, titled "TCS and Porsche AG Partner to Accelerate the Future of AI-Powered Mobility".

2026-08-24

Acquisition

2026-08-24 - Tata Consultancy Services Limited has informed the Exchange about Acquisition

News

Recent coverage and analyst commentary for TCS

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Name

TCS

2202.00

16.00

796702.87

5.00

13420.00

4.69

72275.00

13.93

66.25

25.67

INFY

1038.20

13.91

421325.69

4.62

7775.00

12.29

48211.00

14.03

42.84

23.66

HCLTECH

1207.00

18.80

327539.38

4.47

4626.00

20.34

34579.00

13.94

31.20

19.87

WIPRO

167.50

12.55

165902.38

6.57

3356.30

0.59

24478.60

10.59

18.49

18.93

TECHM

1539.50

29.38

150891.59

3.31

1486.30

31.67

15711.90

17.68

23.04

17.43

LTM

4301.15

24.39

127581.28

1.74

1468.60

17.06

11608.00

17.96

30.25

17.75

OFSS

11760.00

30.01

102409.76

3.40

1415.50

120.52

3125.20

68.73

45.50

60.04

PERSISTENT

5537.45

45.42

87353.27

0.72

483.04

13.67

4303.23

29.09

35.09

16.19

COFORGE

1847.40

46.58

81835.77

0.86

531.70

49.19

5527.70

49.86

24.70

19.14

MPHASIS

2294.10

22.92

43790.98

2.70

489.51

10.82

4384.05

17.46

23.31

18.15

LTTS

3334.95

26.80

35379.24

1.74

357.10

12.97

2940.10

11.47

27.70

18.65

TATATECH

761.75

55.53

30931.00

1.54

180.75

6.15

1664.63

33.78

19.56

16.64

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

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

44,383

43,946

44,195

44,073

45,951

47,528

46,939

47,499

46,562

47,821

48,818

51,422

55,231

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

17,044

OPM %

25.26%

26.38%

27.05%

28.03%

26.61%

26.04%

26.63%

26.33%

26.60%

27.32%

27.23%

27.27%

23.58%

1,397

1,006

-96

1,157

962

729

1,243

1,028

1,660

-268

-2,273

757

2,236

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

Profit before Tax

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 %

25.81%

25.77%

25.17%

25.80%

25.42%

25.43%

25.33%

25.05%

24.50%

23.85%

24.93%

25.21%

Net Profit

11,120

11,380

12,105

11,955

12,444

12,293

12,819

12,131

10,720

13,784

13,420

30.26

31.00

30.29

34.37

33.28

32.92

34.21

33.79

35.27

33.37

29.45

37.92

36.90

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

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

85,655

90,588

1,06,957

1,14,840

1,17,631

1,38,706

1,66,360

1,76,597

1,87,917

1,95,234

2,03,292

Operating Profit

32,311

32,516

39,506

42,109

46,546

53,048

59,098

64,296

67,407

71,787

72,567

OPM %

27.39%

26.41%

26.97%

26.83%

28.35%

27.66%

26.21%

26.69%

26.40%

26.88%

26.31%

4,221

3,642

4,311

4,592

1,916

4,027

3,610

3,464

3,962

487

452

Interest

198

924

637

784

779

778

796

1,227

1,305

Depreciation

1,987

2,014

2,056

3,529

4,065

4,604

5,022

4,985

5,242

5,560

5,438

Profit before Tax

34,513

34,092

41,563

42,248

43,760

51,687

56,907

61,997

65,331

65,487

66,452

Tax %

23.63%

24.09%

24.06%

23.20%

25.59%

25.61%

25.66%

25.64%

25.31%

24.48%

24.67%

Net Profit

26,357

25,880

31,562

32,447

32,562

38,449

42,303

46,099

48,797

49,454

50,055

EPS

133.41

67.10

83.05

86.19

86.71

103.62

115.19

126.82

134.12

135.94

—

Dividend Payout %

35.22%

36.98%

35.75%

84.65%

43.35%

41.06%

99.86%

57.56%

93.94%

80.92%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

197

191

375

370

366

362

Minority Interest

366

402

453

623

675

707

782

830

1,015

1,238

86,017

84,937

89,071

83,751

86,063

88,773

90,058

90,127

94,394

1,06,878

930

1,406

1,362

7,668

7,754

7,824

7,333

7,137

8,810

10,588

Trade Payables

4,905

5,094

6,292

6,740

7,860

8,045

10,515

9,981

13,909

14,808

8,009

10,817

14,734

18,914

24,106

32,091

31,290

34,609

37,561

44,033

Total Liabilities

1,00,424

1,02,847

1,12,287

1,18,071

1,26,828

1,37,806

1,40,344

1,43,046

1,56,051

1,77,907

11,701

11,973

12,290

20,928

21,021

21,298

20,515

19,604

23,053

31,343

Capital Work in Progress

1,541

1,278

963

906

926

1,205

1,234

1,564

1,546

2,665

41,980

36,008

29,330

26,356

29,373

30,485

37,163

31,762

30,964

33,988

53,577

59,046

67,714

Cash & Bank

4,149

7,161

12,848

9,666

9,329

18,221

11,032

13,286

15,463

12,908

41,032

46,401

56,846

60,210

66,171

66,577

70,372

23,225

25,958

29,260

Total Assets

1,00,424

1,02,847

1,12,287

1,18,071

1,26,828

1,37,806

1,40,344

1,43,046

1,56,051

1,77,907

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

33,169

32,676

38,551

38,215

47,894

51,435

54,931

44,338

48,908

52,094

Cash from Investing

-16,732

2,886

1,596

8,565

-8,129

-897

6,026

-2,318

-12,845

Cash from Financing

-11,026

-26,885

-27,897

-39,915

-32,634

-33,581

-47,878

-48,536

-47,438

-42,133

-2,535

1,068

2,292

1,019

-1,961

5,471

-5,874

1,828

-848

-2,884

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

71.77

12.35

12.66

12.68

12.04

11.48

10.33

10.37

9.66

9.07

11.00

10.86

10.85

11.49

11.95

12.64

12.81

13.34

13.41

Government

0.00

4.82

4.67

4.64

4.75

5.20

4.98

5.16

5.69

Tata Consultancy Services Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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Tata Consultancy Services Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

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