āagman

Not investment advice. Data and computed figures, for information only.

Tata Consultancy Services Ltd

NSE: TCSF&O
₹2,465.00
+₹115.00 (+4.89%)
NSE · 16 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹7,80,060 Cr
CMP
₹2,465.00
52-wk High / Low
₹3,350 / 1,977
P/E
14.3
P/B
6.6
Book Value
₹329.0
Div Yield
2.97%
ROCE
63.0%
ROE
51.8%
Face Value
₹1
D/E
0.11

Price−18.0% over 1Y

āagman read

Computed by āagman
Derived from 12 years and 14 quarters of filings. Not reported by the company.
As of 16 Oct 2026
How we compute these
Piotroski F-Score
1
/ 9
1 of 9 F-score tests passed
Graham Number
₹1,003
√(22.5 × EPS × book value per share)
ROIC
42.6%
vs 13.5% sector median
Cash flow to profit
1.05
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
−161
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
29.8%
ROE × earnings retention ratio
ROE stability
2.4
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom +0.00FII −0.59DII +0.07
Latest quarter vs the previous one
Cash-accrual divergence
−1.6%
of assets
Low = accruals track cash flow
Strengths
+ROCE has stayed above the sector median for 5 consecutive years (weakest: 54% vs the 2022 sector median of 26%)
+PE of 14.3x is below the sector median of 24.0x
Watch-outs
−Borrowings are up 4719.6% since FY2016 (245 to 11808)
−Price trades below its 200-day moving average (1.0x)
−Promoter holding fell by 0.5pp over the last year
−Piotroski F-Score of 1/9 is in the weak band (≤3)

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Consolidated basis (as filed) · ₹ Cr · 13 quarters
As of 30 Sep 2026
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales59,69260,58361,23762,61364,25963,97364,47963,43765,79967,08770,69872,27573,188
Expenses43,94644,19544,07345,95147,52846,93947,49946,56247,82148,81851,42253,71954,373
Operating Profit15,74616,38817,16416,66216,73117,03416,98016,87517,97818,26919,27618,55618,815
OPM %26.4%27.1%28.0%26.6%26.0%26.6%26.3%26.6%27.3%27.2%27.3%25.7%25.7%
Other Income1,006−961,1579627291,2431,0281,660−268−2,2737579001,337
Interest159230226173162234227195229538265273252
Depreciation1,2631,2331,2461,2201,2661,3771,3791,3611,4131,3801,4061,2391,262
Profit before tax15,33014,82916,84916,23116,03216,66616,40216,97916,06814,07818,36217,94418,638
Net Profit11,38011,09712,50212,10511,95512,44412,29312,81912,13110,72013,78413,42013,934
EPS (₹)31.0030.5634.3733.2832.9234.2233.7935.2733.3729.4537.9236.9038.37

Profit & Loss

As of 30 Sep 2026
Consolidated · ₹ Cr · 13 years + TTM
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTMSep 2026TTM
Sales94,6481,08,6461,17,9661,23,1041,46,4631,56,9491,64,1771,91,7542,25,4582,40,8932,55,3242,67,0212,75,859—2,83,248
Expenses70,16777,96985,65590,5881,06,9571,14,8401,17,6311,38,6971,66,1991,76,5971,87,9171,94,6232,01,780—2,08,332
Operating Profit24,48230,67732,31132,51639,50642,10946,54653,05759,25964,29667,40772,39874,079—74,916
OPM %25.9%28.2%27.4%26.4%27.0%26.8%28.4%27.7%26.3%26.7%26.4%27.1%26.9%—26.4%
Other Income3,7203,0844,2213,6424,3114,5921,9164,0183,4493,4643,962−124−884—721
Interest1043332521989246377847797787961,2271,305—1,328
Depreciation1,7991,8881,9872,0142,0563,5294,0654,6045,0224,9855,2425,5605,438—5,287
Profit before tax26,29831,84034,51334,09241,56342,24843,76051,68756,90761,99765,33165,48766,452—69,022
Net Profit20,06024,33826,35725,88031,56232,44732,56238,44942,30346,09948,79749,45450,055—51,858
EPS (₹)50.6861.5866.7167.4683.8786.1987.67104.75115.19126.88134.20136.01137.64—142.64

Balance Sheet

As of 30 Sep 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 2026Sep 2026Sep 2026
Equity Capital196197197191375375370366366362362362—362—
Reserves50,43970,87586,01784,93789,07183,75186,06388,77390,05890,12794,3941,06,878—1,18,624—
Borrowings358245289247628,1747,7957,8187,6888,0219,39211,283—11,808—
Other Liabilities22,32516,97415,83019,75124,39327,82735,76443,96744,74746,96254,50162,644—59,988—
Total Liabilities73,31888,2911,02,3331,05,1261,13,9011,20,1271,29,9921,40,9241,42,8591,45,4721,58,6491,81,167—1,90,782—
Fixed Assets11,63811,77411,70111,97312,29020,92821,02121,29820,51519,60423,05331,343—32,872—
CWIP2,7661,6701,5411,2789639069261,2051,2341,5641,5462,665—2,380—
Investments1,66222,82241,98036,00829,33026,35629,37330,48537,16331,76230,96433,988—40,840—
Other Assets57,25252,02547,11155,86771,31871,93778,67287,93683,94792,5421,03,0861,13,171—1,14,690—
Total Assets73,31888,2911,02,3331,05,1261,13,9011,20,1271,29,9921,40,9241,42,8591,45,4721,58,6491,81,167—1,90,782—

Cash Flows

As of 31 Mar 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity19,36919,10925,22325,06728,59332,36938,80239,94941,96544,33848,90852,094
Cash from Investing Activity−1,807−5,010−16,8953,1041,6458,968−7,956−7385486,091−2,144−11,886
Cash from Financing Activity−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 Flow3944,433−2,6981,2862,3411,422−1,7885,630−5,3651,893−674−1,925

Ratios

As of 31 Mar 2026
12 periods
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %50.051.044.039.047.047.049.054.059.064.065.063.0
ROE %———————————51.8
EPS (₹)50.6861.5866.7167.4683.8786.1987.67104.75115.19126.88134.20136.01
Book Value (₹)———————————329.0
Face Value (₹)———————————1
P/E———————————14.3
Div Yield %———————————2.97
NPM %20.421.821.620.420.920.119.619.618.518.918.818.5
OPM %26.028.027.026.027.027.028.028.026.027.026.027.0
D/E0.010.000.000.000.000.100.090.090.090.090.100.11
P/B———————————6.6

Growth

As of 11 Oct 2026
Compounded sales growth
10 years+9.0%
5 years+10.0%
3 years+6.0%
TTM+10.0%
Compounded profit growth
10 years+8.0%
5 years+9.0%
3 years+8.0%
TTM+9.0%
Stock price CAGR
10 years+6.0%
5 years−10.0%
3 years−15.0%
Last year−29.0%
Return on equity
10 years43.0%
5 years49.0%
3 years52.0%
Last year52.0%

Shareholding pattern

As of 31 Mar 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters73.31%73.31%71.92%72.05%72.05%72.19%72.30%72.30%71.77%71.77%71.77%71.77%
FIIs16.90%16.90%16.88%15.80%15.74%15.62%14.15%12.72%12.70%12.04%9.66%9.07%
DIIs5.36%5.36%6.93%7.78%8.00%7.83%7.81%9.58%10.61%11.49%13.34%13.41%
Government0.05%0.05%0.05%0.05%0.06%0.06%0.04%0.05%0.06%0.06%0.06%0.06%
Public4.38%4.38%4.22%4.32%4.14%4.31%5.70%5.36%4.86%4.63%5.16%5.69%
No. of shareholders6,37,7996,37,7995,50,6517,23,8948,58,82510,58,90124,74,31024,99,38422,03,20921,15,09324,50,09026,05,182
Change since Jun 2023 (pp)
Promoters −1.54FIIs −7.83DIIs +8.05Public +1.31

Documents

As of 11 Oct 2026
Announcements
Announcement under Regulation 30 (LODR)-Newspaper PublicationAnnouncement under Regulation 30 (LODR)-Newspaper PublicationAnnouncement under Regulation 30 (LODR)-Newspaper PublicationStatement Of The Company Regarding The Announcement By The US Government On The Permanent Labor Certification ProgramAudio Recording Of Earnings Conference Call For The Quarter And Six-Month Period Ended September 30, 2026
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2022
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Oct 2026RecordingJul 2026TranscriptJul 2026TranscriptJul 2026PPTJul 2026RecordingApr 2026TranscriptApr 2026RecordingMar 2026PPT

Corporate actions

As of 14 Oct 2026
14 Oct 2026DIVIDENDInterim Dividend - Rs 12 Per Share—
15 Jul 2026DIVIDENDInterim Dividend - Rs 12 Per Share—
25 May 2026DIVIDENDDividend - Rs 31 Per Share—
16 Jan 2026DIVIDENDInterim Dividend Rs 11 Per Share/ Special Dividend Rs 46 Per Share—
15 Oct 2025DIVIDENDInterim Dividend - Rs 11 Per Share—
16 Jul 2025DIVIDENDInterim Dividend - Rs 11 Per Share—
4 Jun 2025DIVIDENDDividend - Rs 30 Per Share—
17 Jan 2025DIVIDENDInterim Dividend - Rs 10 Per Share Special Dividend - Rs 66 Per Share—
18 Oct 2024DIVIDENDInterim Dividend - Rs 10 Per Share—
19 Jul 2024DIVIDENDInterim Dividend - Rs 10 Per Share—
16 May 2024DIVIDENDDividend - Rs 28 Per Share—
19 Jan 2024DIVIDENDInterim Dividend - Rs 9 Per Share Special Dividend - Rs 18 Per Share—
19 Oct 2023DIVIDENDInterim Dividend - Rs 9 Per Share—
20 Jul 2023DIVIDENDInterim Dividend - Rs 9 Per Share—
15 Jun 2023DIVIDENDDividend - Rs 24 Per Share—
16 Jan 2023DIVIDENDInterim Dividend - Rs 8 Per Share Special Dividend - Rs 67 Per Share—
17 Oct 2022DIVIDENDInterim Dividend - Rs 8 Per Share—
14 Jul 2022DIVIDENDInterim Dividend- Rs 8 Per Share—
25 May 2022DIVIDENDDividend - Rs 22 Per Share—
19 Jan 2022DIVIDENDInterim Dividend - Rs 7 Per Share—
14 Oct 2021DIVIDEND Interim Dividend - Rs 7 Per Share—
15 Jul 2021DIVIDEND Interim Dividend - Rs 7 Per Share—
25 May 2021DIVIDEND Dividend - Rs 15 Per Share—
14 Jan 2021DIVIDEND Interim Dividend - Rs 6 Per Share—
14 Oct 2020DIVIDEND Interim Dividend - Rs 12 Per Share—
16 Jul 2020DIVIDEND Interim Dividend - Rs 5 Per Share—
3 Jun 2020DIVIDEND Dividend - Rs 6 Per Share—
19 Mar 2020DIVIDEND Interim Dividend - Rs 12 Per Share—
23 Jan 2020DIVIDEND Interim Dividend - Rs 5 Per Share—
17 Oct 2019DIVIDEND Interim Dividend - Rs 5 Per Share And Special Dividend - Rs 40 Per Share—
16 Jul 2019DIVIDEND Interim Dividend - Rs 5 Per Share—
4 Jun 2019DIVIDEND Dividend - Rs 18 Per Share—
17 Jan 2019DIVIDEND Interim Dividend - Rs 4 Per Share—
17 Jul 2018DIVIDEND Interim Dividend- Rs 4 Per Share (Purpose Revised)—
31 May 2018BONUS Bonus 1:1 /Dividend- Rs 29 Per Share—
22 Jan 2018DIVIDEND Interim Dividend - Rs 7 Per Share—
25 Oct 2017DIVIDEND Interim Dividend Rs 7/- Per Share—
24 Jul 2017DIVIDEND Interim Dividend - Rs 7/- Per Share—
13 Jun 2017DIVIDEND Annual General Meeting/Dividend - Rs 27.50/- Per Share—
23 Jan 2017DIVIDEND Interim Dividend Rs 6.50 Per Share —
24 Oct 2016DIVIDEND Interim Dividend- Rs 6.50/- Per Share—
25 Jul 2016DIVIDEND Interim Dividend - Rs 6.50/- Per Share—
6 Jun 2016DIVIDEND Annual General Meeting/Dividend Rs 27/- Per Share—
21 Jan 2016DIVIDEND Interim Dividend - Rs 5.50/- Per Share—
23 Oct 2015DIVIDEND Interim Dividend - Rs 5.50/- Per Share—
20 Jul 2015DIVIDENDInterim Dividend - Rs 5.50/- Per Share—
5 Jun 2015DIVIDENDAnnual General Meeting /Dividend - Rs 24/- Per Share—
27 Jan 2015DIVIDENDThird Interim Dividend - Rs 5/- Per Share—
29 Oct 2014DIVIDEND2nd Interim Dividend Rs.5/- Per Share—
28 Jul 2014DIVIDENDInterim Dividend - Rs 5/- Per Share + Special Dividend - Rs 40/- Per Share—
6 Jun 2014DIVIDENDAnnual General Meeting / Dividend - Rs. 20/- Per Equity Share—
27 Jan 2014DIVIDENDInterim Dividend Rs.4/- Per Share—
25 Oct 2013DIVIDEND2nd Interim Dividend Rs.4/- Per Share—
29 Jul 2013DIVIDENDInterim Dividend - Rs 4/- Per Equity Share—
6 Jun 2013DIVIDENDAnnual General Meeting And Dividend Rs.13/- Per Share—
23 Jan 2013DIVIDENDInterim Dividend 3 Per Share—
31 Oct 2012DIVIDEND2nd Interim Dividend Rs 3 Per Share—
23 Jul 2012DIVIDENDInterim Dividend Rs.3/- Per Share—
7 Jun 2012DIVIDENDAnnual General Meeting / Final Dividend - Rs.8/- / Special Dividend - Rs.8/-—
25 Jan 2012DIVIDEND3rd Interim Dividend Rs.3/- Per Share—
25 Oct 2011DIVIDENDInterim Dividend - Rs. 3/- Per Share—
28 Jul 2011DIVIDENDInterim Dividend Rs.3/- Per Share—
8 Jun 2011DIVIDENDDividend-Rs.8/- Per Share—
27 Jan 2011DIVIDEND3rd Interim Dividend-Rs.2/- Per Share—
1 Nov 2010DIVIDEND2nd Interim Dividend-Rs.2/- Per Share—
29 Jul 2010DIVIDENDInterim Dividend Rs.2/- Per Share—
15 Jun 2010DIVIDENDFinal Dividend Rs.4/- Per Share And Special Dividend Rs.10/- Per Share—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman