TCS

₹3563 -17.8 | 0.5%

WEBSITE BSE:532540 NSE : TCS LTD. 16 May, 00:00

Market Cap ₹1289106 Cr.

Stock P/E 26.4

P/B 13.7

Current Price ₹3563

Book Value ₹ 260.1

Face Value 1

52W High ₹4585.9

Dividend Yield 3.54%

52W Low ₹ 3060.3

Edit Ratio

TCS Research see more...

Research Report: TCS

Tata Consultancy Services Ltd. (Q2FY24 Result Analysis)

TCS Q1FY24 Earning Highlights

Equity Research Report: TCS -Q4FY23

Overview Inc. Year: 1995Industry: IT - Software

Tata Consultancy Services Ltd (TCS) is an India-based company engaged in providing IT offerings, virtual and enterprise solutions. The Company's segments are Banking, Financial Services and Insurance, Manufacturing, Retail and Consumer Business, Communication, Media and Technology, Life Sciences and Healthcare and Others. The Company's merchandise includes TCS BaNCS, TCS Connected Intelligence Platform, ignio, TCS iON, TCS MasterCraft, TAP, CHROMA, TCS Customer Intelligence & Insights, TCS Intelligent Urban Exchange, Jile, TCS OmniStore, Quartz and The Smart Ledgers. Its systems include TCS ADD TCS BFSI Platforms ERP on Cloud and TCS HOBS. Its services portfolio consists of IT and assurance services, enterprise intelligence and overall performance management, commercial enterprise system offerings, cloud services, linked advertising solutions, mobility products and services and platform solutions. It serves industries, inclusive of insurance, healthcare, retail, telecom and others.

TCS Share Price

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Peer Comparison

TCS Quarterly Results

#(Fig in Cr.)	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
Net Sales	58229	59162	59381	59692	60583	61237	62613	64259	63973	64479
Other Income	520	1175	1397	1006	862	1157	962	729	1243	1028
Total Income	58749	60337	60778	60698	61445	62394	63575	64988	65216	65507
Total Expenditure	42676	43388	44383	43946	44195	44073	45951	47528	46939	47499
Operating Profit	16073	16949	16395	16752	17250	18321	17624	17460	18277	18008
Interest	160	272	163	159	230	226	173	162	234	227
Depreciation	1269	1286	1243	1263	1233	1246	1220	1266	1377	1379
Exceptional Income / Expenses	0	0	0	0	-958	0	0	0	0	0
Profit Before Tax	14644	15391	14989	15330	14829	16849	16231	16032	16666	16402
Provision for Tax	3761	3955	3869	3950	3732	4347	4126	4077	4222	4109
Profit After Tax	10883	11436	11120	11380	11097	12502	12105	11955	12444	12293
Adjustments	-37	-44	-46	-38	-39	-68	-65	-46	-64	-69
Profit After Adjustments	10846	11392	11074	11342	11058	12434	12040	11909	12380	12224
Adjusted Earnings Per Share	29.6	31.1	30.3	31	30.5	34.3	33.3	32.9	34.2	33.8

TCS Profit & Loss

#(Fig in Cr.)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Net Sales	94648	108646	117966	123104	146463	156949	164177	191754	225458	240893	255324	255324
Other Income	3230	3084	4221	3642	4311	4592	3134	4027	3610	4422	3962	3962
Total Income	97878	111730	122187	126746	150774	161541	167311	195781	229068	245315	259286	259286
Total Expenditure	70167	77969	85655	90588	106957	114840	117631	138706	166360	176597	187917	187917
Operating Profit	27712	33761	36532	36158	43817	46701	49680	57075	62708	68718	71369	71369
Interest	104	33	32	52	198	924	637	784	779	778	796	796
Depreciation	1799	1888	1987	2014	2056	3529	4065	4604	5022	4985	5242	5242
Exceptional Income / Expenses	490	0	0	0	0	0	-1218	0	0	-958	0	0
Profit Before Tax	26298	31840	34513	34092	41563	42248	43760	51687	56907	61997	65331	65331
Provision for Tax	6239	7502	8156	8212	10001	9801	11198	13238	14604	15898	16534	16534
Profit After Tax	20060	24338	26357	25880	31562	32447	32562	38449	42303	46099	48797	48797
Adjustments	-208	-68	-68	-54	-90	-107	-132	-122	-156	-191	-244	-244
Profit After Adjustments	19852	24270	26289	25826	31472	32340	32430	38327	42147	45908	48553	48553
Adjusted Earnings Per Share	50.7	61.6	66.7	67.6	83.9	86.2	87.6	104.7	115.2	126.8	134.1	134.2

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	6%	10%	10%	10%
Operating Profit CAGR	4%	8%	9%	10%
PAT CAGR	6%	8%	9%	9%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	-9%	2%	13%	11%
ROE Average	53%	50%	47%	41%
ROCE Average	72%	69%	64%	55%

TCS Balance Sheet

#(Fig in Cr.)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Shareholder's Funds	50635	71072	86214	85128	89446	84126	86433	89139	90424	90489	94756
Minority's Interest	1128	355	366	402	453	623	675	707	782	830	1015
Borrowings	114	83	71	54	0	0	0	0	0	0	0
Other Non-Current Liabilities	872	-661	-739	-565	304	6262	5565	5609	5580	5623	7279
Total Current Liabilities	20318	15569	14512	17828	22084	27060	34155	42351	43558	46104	53001
Total Liabilities	73067	86418	100424	102847	112287	118071	126828	137806	140344	143046	156051
Fixed Assets	11638	11774	11701	11973	12290	20928	21021	21298	20515	19604	23053
Other Non-Current Assets	12616	11431	8407	9650	7866	6906	6527	8198	9559	10458	9987
Total Current Assets	48813	63213	80316	81224	92131	90237	99280	108310	110270	112984	123011
Total Assets	73067	86418	100424	102847	112287	118071	126828	137806	140344	143046	156051

TCS Cash Flow

#(Fig in Cr.)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Opening Cash & Cash Equivalents	1468	1862	6295	3597	4883	7224	8646	6858	12488	7123	9016
Cash Flow from Operating Activities	19369	19109	25223	25067	28593	32369	38802	39949	41965	44338	48908
Cash Flow from Investing Activities	-1701	-5150	-16732	2886	1596	8565	-8129	-897	39	6026	-2318
Cash Flow from Financing Activities	-17168	-9666	-11026	-26885	-27897	-39915	-32634	-33581	-47878	-48536	-47438
Net Cash Inflow / Outflow	500	4293	-2535	1068	2292	1019	-1961	5471	-5874	1828	-848
Closing Cash & Cash Equivalent	1862	6295	3597	4883	7224	8646	6858	12488	7123	9016	8342

TCS Ratios

#	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Earnings Per Share (Rs)	50.68	61.6	66.72	67.61	83.93	86.24	87.65	104.72	115.16	126.82	134.12
CEPS(Rs)	55.8	66.56	71.94	73.02	89.65	95.94	98.99	117.63	129.3	141.12	149.28
DPS(Rs)	79	43.5	47	50	30	73	38	43	115	73	126
Book NAV/Share(Rs)	129.26	180.25	217.45	223.07	238.01	222.21	231.36	242.22	246.95	249.32	259.95
Core EBITDA Margin(%)	25.86	28.24	27.39	26.41	26.97	26.83	28.35	27.66	26.21	26.69	26.4
EBIT Margin(%)	27.89	29.34	29.28	27.74	28.51	27.51	27.04	27.36	25.59	26.06	25.9
Pre Tax Margin(%)	27.78	29.31	29.26	27.69	28.38	26.92	26.65	26.95	25.24	25.74	25.59
PAT Margin (%)	21.19	22.4	22.34	21.02	21.55	20.67	19.83	20.05	18.76	19.14	19.11
Cash Profit Margin (%)	23.09	24.14	24.03	22.66	22.95	22.92	22.31	22.45	20.99	21.21	21.16
ROA(%)	28.7	30.52	28.21	25.46	29.34	28.17	26.59	29.06	30.42	32.53	32.63
ROE(%)	40.19	40.01	33.64	30.29	36.18	37.6	38.55	44.13	47.26	51.04	52.94
ROCE(%)	52.56	52.14	43.94	39.84	47.8	50.02	52.56	60.22	64.44	69.5	71.74
Receivable days	89.66	87.9	86.46	88.14	79.91	79.96	81.06	74.68	74.28	78.43	80.5
Inventory Days	0.06	0.05	0.06	0.07	0.04	0.02	0.01	0.03	0.04	0.04	0.04
Payable days	0	0	0	0	0	0	0	0	0	0	0
PER(x)	25.13	20.42	18.22	21.07	23.84	21.14	36.25	35.7	27.84	30.62	26.87
Price/Book(x)	9.85	6.98	5.59	6.39	8.4	8.2	13.73	15.44	12.98	15.58	13.87
Dividend Yield(%)	3.1	1.73	1.93	1.75	1.5	4	1.2	1.15	3.59	1.88	3.5
EV/Net Sales(x)	5.08	4.5	4.03	4.36	5.03	4.29	7.1	7.04	5.16	5.78	5.05
EV/Core EBITDA(x)	17.35	14.49	13	14.86	16.83	14.43	23.48	23.66	18.54	20.26	18.07
Net Sales Growth(%)	15.69	14.79	8.58	4.36	18.98	7.16	4.61	16.8	17.58	6.85	5.99
EBIT Growth(%)	3.78	20.72	8.38	-1.16	22.31	3.38	2.84	18.19	9.94	8.82	5.34
PAT Growth(%)	3.76	21.33	8.3	-1.81	21.96	2.8	0.35	18.08	10.02	8.97	5.85
EPS Growth(%)	3.75	21.55	8.32	1.32	24.14	2.76	1.63	19.48	9.97	10.13	5.76
Debt/Equity(x)	0.01	0	0	0	0	0	0	0	0	0	0
Current Ratio(x)	2.4	4.06	5.53	4.56	4.17	3.33	2.91	2.56	2.53	2.45	2.32
Quick Ratio(x)	2.4	4.06	5.53	4.55	4.17	3.33	2.91	2.56	2.53	2.45	2.32
Interest Cover(x)	253.41	965.85	1079.53	656.62	210.91	46.72	69.7	66.93	74.05	80.69	83.07
Total Debt/Mcap(x)	0	0	0	0	0	0	0	0	0	0	0

TCS Shareholding Pattern

#	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
Promoter	72.3	72.3	72.3	72.3	72.41	71.77	71.77	71.77	71.77	71.77
FII	12.94	12.72	12.46	12.47	12.47	12.7	12.36	12.66	12.68	12.04
DII	9.31	9.63	9.86	10.06	10.09	10.67	11.06	10.91	10.91	11.56
Public	5.45	5.35	5.38	5.17	5.03	4.87	4.82	4.67	4.64	4.64
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
Promoter	264.54	264.54	264.54	264.54	262	259.66	259.66	259.66	259.66	259.66
FII	47.36	46.53	45.59	45.63	45.12	45.95	44.71	45.79	45.89	43.55
DII	34.07	35.25	36.08	36.82	36.5	38.59	40	39.47	39.46	41.81
Public	19.94	19.59	19.7	18.92	18.2	17.61	17.45	16.89	16.8	16.79
Others	0	0	0	0	0	0	0	0	0	0
Total	365.91	365.91	365.91	365.91	361.81	361.81	361.81	361.81	361.81	361.81

Pros

Company has a good return on equity (ROE) track record: 3 Years ROE 50%
Company is almost debt free.

Cons

Stock is trading at 13.7 times its book value.
The company has delivered a poor profit growth of 8% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.