Tata Consultancy Services Limited · NSE:TCS

Tata Consultancy Services — Q3 FY2026 Earnings Presentation

23 slides from Tata Consultancy Services's earnings presentation, Jan 12, 2026

  1. Slide 1: TCS Financial Results

    TCS Financial Results Quarter III Ended FY 2025-26 Jan 12, 2026

  2. Slide 2: Disclaimer

    Disclaimer Certain statements in this release concerning our future prospects are forward-looking statements. Forward-looking statements by their nature involve a number of risks and uncertainties that could cause actual results to differ materially from market expectations. These risks and uncertai

  3. Slide 3: Q3 FY26 Performance Highlights

    Q3 FY26 Performance Highlights  Revenue: - INR Revenue of ₹ 670,870 Mn, up 2.0% QoQ | up 4.9% YoY - USD Revenue of $ 7,509 Mn, up 0.6% QoQ | down 0.4% YoY - Constant currency revenue up 0.8% QoQ | down 2.6% YoY  Profit: - Operating Margin at 25.2%* - Net Margin at 20.0%* - Cash flow from operation

  4. Slide 4: Growth Summary (INR)

    Growth Summary (INR) Revenue Q-o-Q Growth Q-o-Q Growth CC 3.7% 644,790 634,370 657,990 670,870 639,730 2.0% ` Million 0.8% 0.0% 0.8% -1.6% 0.8% -0.4% -0.8% -3.3% Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Operating Income Operating margin (%) 165,650 168,890 156,

  5. Slide 5: Growth Summary (USD)

    Growth Summary (USD) Revenue Q-o-Q Growth Q-o-Q Growth CC 7,539 7,465 7,421 7,466 7,509 $ Million 0.0% -0.8% -0.6% 0.8% 0.8% 0.6% 0.6% -1.7% -1.0% -3.3% Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Operating Income Operating margin (%) 1,844 1,807 1,815 1,879 1,889

  6. Slide 6: Operational Parameters

    TATA ! { ( KB CONSULTANCY q@ Dv SERVICES TATA Operational Parameters

  7. Slide 7: Growth by Market

    Growth by Market Q-o-Q Y-o-Y Q-o-Q Y-o-Y Geography (%) Q3 FY25 Q2 FY26 Q3 FY26 CC Growth CC Growth INR Growth INR Growth Americas North America 47.7 48.8 48.5 0.1 1.3 1.4 6.7 Latin America 1.9 1.9 2.0 4.6 1.4 8.4 14.5 Europe UK 16.6 17.5 16.9 - 1.9 - 3.2 - 1.1 6.8 Continental Europe 13.9 15.3 15.6 2

  8. Slide 8: Growth by Domain

    Growth by Domain Q-o-Q Y-o-Y Q-o-Q Y-o-Y Vertical (%) Q3 FY25 Q2 FY26 Q3 FY26 CC Growth CC Growth INR Growth INR Growth BFSI 30.5 32.2 31.9 - 0.4 1.6 1.0 9.6 Consumer Business 15.3 15.3 15.4 1.3 - 2.7 2.6 5.8 Life Sciences & Healthcare 10.1 10.5 10.5 0.9 2.2 2.2 9.7 Manufacturing 8.4 8.8 8.8 0.2 1.7

  9. Slide 9: Client Parameters

    Client Parameters Clients Contribution Q3 FY25 Q2 FY26 Q3 FY26 US$ 1m+ Clients 1309 1360 1383 US$ 5m+ Clients 722 707 721 US$ 10m+ Clients 497 498 497 US$ 20m+ Clients 294 302 310 US$ 50m+ Clients 134 136 136 US$ 100m+ Clients 64 60 62 *Last Twelve Months' services revenues 9

  10. Slide 10: Human Resources

    TATA ! { ( KB CONSULTANCY q@ Dv SERVICES TATA Human Resources

  11. Slide 11: Total Employee Base

    Total Employee Base Voluntary Attrition*: 612,724 613,069 • 13.5% (LTM), IT Services 607,354 607,979 Diversity: • 35.1 % Women employees 593,314 • 149 Nationalities *Excluding Subsidiaries 582,163 Talent Development: • 51.2Mn Learning Hrs (YTD) • 3.8Mn competencies acquired (YTD) • 217K associates w

  12. Slide 12: Annexure

    TATA ! { ( KB CONSULTANCY q@ Dv SERVICES TATA Annexure

  13. Slide 13: IFRS Income Statement

    IFRS Income Statement ₹ Million % of Revenue Consolidated IFRS Q3 FY25 Q2 FY26 Q3 FY26 Q3 FY25 Q2 FY26 Q3 FY26 Revenue 639,730 657,990 670,870 100.0 100.0 100.0 Cost of revenue 391,390 397,580 397,040 61.2 60.4 59.2 Gross margin 248,340 260,410 273,830 38.8 39.6 40.8 SG & A expenses 91,770 94,760 10

  14. Slide 14: COR – SG&A Details

    COR – SG&A Details ₹ Million % of Revenue COR Q3 FY25 Q2 FY26 Q3 FY26 Q3 FY25 Q2 FY26 Q3 FY26 Employee cost 283,860 308,920 301,300 44.4 46.9 44.9 Fees to external consultants 28,120 33,090 35,600 4.4 5.0 5.3 Equipment and software 35,190 9,670 12,620 5.5 1.5 1.9 Facility expenses 5,460 5,540 6,040

  15. Slide 15: Cash Flow Summary

    Cash Flow Summary IFRS in ₹ Mn Q3 FY25 Q2 FY26 Q3 FY26 Net Cash from Operations 130,320 132,930 139,010 Capital Expenditure 7,260 12,010 9,180 Acquisition of Subsidiary - - 5,600 Free Cash Flow 123,060 120,920 124,230 Dividends Paid 36,220 40,210 39,870 Operating Cash Flow to Sales (%) 20.4 20.2 20.

  16. Slide 16: IFRS Statement of Financial Position

    IFRS Statement of Financial Position ₹ Million Consolidated IFRS 31-Mar-25 31-Dec-25 Assets Property and equipment 129,320 138,110 Right-of-use Assets 92,750 105,480 Intangible assets and Goodwill 49,640 51,030 Accounts Receivable 502,330 561,470 Unbilled Revenues 154,700 163,290 Invested Funds 472,

  17. Slide 17: IFRS Income Statement – In USD

    IFRS Income Statement – In USD $ Million % of Revenue Consolidated IFRS Q3 FY25 Q2 FY26 Q3 FY26 Q3 FY25 Q2 FY26 Q3 FY26 Revenue 7,539 7,466 7,509 100.0 100.0 100.0 Cost of revenue 4,613 4,512 4,444 61.2 60.4 59.2 Gross margin 2,926 2,954 3,065 38.8 39.6 40.8 SG & A expenses 1,082 1,075 1,176 14.3 14

  18. Slide 18: COR – SG&A Details – In USD

    COR – SG&A Details – In USD $ Million % of Revenue COR Q3 FY25 Q2 FY26 Q3 FY26 Q3 FY25 Q2 FY26 Q3 FY26 Employee cost 3,345 3,505 3,373 44.4 46.9 44.9 Fees to external consultants 331 376 398 4.4 5.0 5.3 Equipment and software 415 110 141 5.5 1.5 1.9 Facility expenses 64 63 68 0.9 0.8 0.9 Depreciatio

  19. Slide 19: IFRS Statement of Financial Position in USD

    IFRS Statement of Financial Position in USD $ Million Consolidated IFRS 31-Mar-25 31-Dec-25 Assets Property and equipment 1,514 1,536 Right-of-use Assets 1,086 1,173 Intangible assets and Goodwill 580 568 Accounts Receivable 5,880 6,245 Unbilled Revenues 1,811 1,816 Invested Funds 5,526 7,129 Other

  20. Slide 20: Ind AS Income Statement - Consolidated

    Ind AS Income Statement - Consolidated ₹ Crore % of Revenue Consolidated Ind AS Q3 FY25 Q2 FY26 Q3 FY26 Q3 FY25 Q2 FY26 Q3 FY26 Revenue 63,973 65,799 67,087 100.0 100.0 100.0 Expenditure a) Employee Costs 35,956 38,606 38,530 56.2 58.7 57.4 b) Cost of equipment and software licences 3,519 967 1,262

  21. Slide 21: Ind AS Balance Sheet - Consolidated

    Ind AS Balance Sheet - Consolidated ₹ Crore Consolidated Ind AS 31-Mar-25 31-Dec-25 Assets Property and equipment 12,524 13,449 Right-of-use Assets 9,275 10,548 Intangible assets and Goodwill 2,800 2,939 Accounts Receivable 50,233 56,147 Unbilled Revenues 15,470 16,329 Invested Funds 47,222 64,097 O

  22. Slide 22: Currency mix and average realized rates in INR

    Currency mix and average realized rates in INR Average rates % of Revenue Currency Q3 FY25 Q2 FY26 Q3 FY26 Q3 FY25 Q2 FY26 Q3 FY26 USD 84.85 88.13 89.34 49.43% 49.79% 49.34% GBP 107.72 118.11 118.87 14.43% 15.16% 14.82% EUR 89.62 102.70 104.00 10.64% 11.73% 11.65% Others 25.50% 23.32% 24.19% Total 1

  23. Slide 23: Thank you

    Thank you Copyright © 2026 Tata Consultancy Services Limited

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