TCS · Software & Programming · INE467B01029
Analyst mean 2.34 · 41 analysts · 68% bullishWhat the numbers mean when read together — computed from the filings, not a score.
Operating cash flow is 104% of trailing profit — the earnings are converting to cash, not just accruals.
Last operating cash flow ₹52,094 cr against trailing net profit ₹50,055 cr. A ratio at or above ~0.9 means reported profit is showing up as real cash.
Free cash flow is positive and consistent — the business funds itself after capex.
Latest free cash flow ₹48,013 cr. Negative in only 0 of 12 years. A self-funding business needs less external capital and dilutes less.
Borrowings rose 41% over two years while the company also carries ₹33,988 cr in investments. Why borrow at interest while parking money elsewhere is a fair question.
Borrowings moved to ₹11,283 cr from ₹8,021 cr. Simultaneous large investments can be legitimate treasury management, or a sign that reported cash is not freely available.
Markers show corporate actions (splits, bonus, dividends). Prices are split-adjusted so the series is continuous.
| Metric | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 64,259 | 63,973 | 64,479 | 63,437 | 65,799 | 67,087 | 70,698 | 72,275 |
| Expenses | 47,528 | 46,939 | 47,499 | 46,562 | 47,821 | 48,818 | 51,422 | 53,719 |
| Other Income | 729 | 1,243 | 1,028 | 1,660 | -268 | -2,273 | 757 | 900 |
| Depreciation | 1,266 | 1,377 | 1,379 | 1,361 | 1,413 | 1,380 | 1,406 | 1,239 |
| Profit before tax | 16,032 | 16,666 | 16,402 | 16,979 | 16,068 | 14,078 | 18,362 | 17,944 |
| Net Profit | 11,955 | 12,444 | 12,293 | 12,819 | 12,131 | 10,720 | 13,784 | 13,420 |
| EPS | 32.92 | 34.22 | 33.79 | 35.27 | 33.37 | 29.45 | 37.92 | 36.90 |
| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity Capital | 370 | 366 | 366 | 362 | 362 | 362 |
| Reserves | 86,063 | 88,773 | 90,058 | 90,127 | 94,394 | 106,878 |
| Borrowings | 7,795 | 7,818 | 7,688 | 8,021 | 9,392 | 11,283 |
| Fixed Assets | 21,021 | 21,298 | 20,515 | 19,604 | 23,053 | 31,343 |
| CWIP | 926 | 1,205 | 1,234 | 1,564 | 1,546 | 2,665 |
| Investments | 29,373 | 30,485 | 37,163 | 31,762 | 30,964 | 33,988 |
| Total Assets | 129,992 | 140,924 | 142,859 | 145,472 | 158,649 | 181,167 |