Interim report
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9th Floor Nirmal Building Nariman Point Mumbai 400 021 Tel 91 22 6778 9595 Fax 91 22 6630 3672 e-mail corporate.office@tcs.com website www.tcs.com Registered Office 9th Floor Nirmal Building Nariman Point Mumbai 400 021 Corporate Identity No. (CIN): L22210MH1995PLC084781 TCS/BM/100/SE/2026-27 October 8, 2026 National Stock Exchange of India Limited BSE Limited Exchange Plaza, C-1, Block G, P. J. Towers, Bandra Kurla Complex, Bandra (East) Dalal Street, Mumbai - 400051 Mumbai - 400001 Symbol - TCS Scrip Code No. 532540 Dear Sirs, Sub: Financial Results for the quarter and six -month period ended September 30, 2026 and declaration of second interim dividend We enclose the audited standalone financial results of the Company and audited consolidated financial results of the Company and its subsidiaries, under Indian Accounting Standards , along with the Auditor’s Reports of the Company for the quarter and six -month period ended September 30, 2026, which have been approved and taken on record at a meeting of the Board of Directors of the Company held today. We would like to inform you that at the Board Meeting held today, the Directors have declared a second interim dividend of INR 12 per Equity Share of INR 1 each of the Company, for the financial year 2026-27. The second interim dividend shall be paid on Friday, October 30, 2026, to the equity shareholders of the Company, whose names appear on the Register of Members or in the records of the Depositories as beneficial owners of the shares as on Wednesday, October 14, 2026, which is the Record Date fixed for this purpose. The above information is also available on the website of the Company www.tcs.com. Thanking you, Yours faithfully, For Tata Consultancy Services Limited Yashaswin Sheth Company Secretary ACS 15388 Encl: As above
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B S R & Co. LLP Chartered Accountants 14th Floor, Central B Wing and North C Wing Nesco IT Park 4, Nesco Center Western Express Highway Goregaon (East), Mumbai – 400 063, India Telephone: +91 (22) 6257 1000 Fax: +91 (22) 6257 1010 Registered Office: B S R & Co. (a partnership firm with Registration No. BA61223) converted into B S R & Co. LLP (a Limited Liability Partnership with LLP Registration No. AAB-8181) with effect from October 14, 2013 14th Floor, Central B Wing and North C Wing, Nesco IT Park 4, Nesco Center, Western Express Highway, Goregaon (East), Mumbai - 400063 Page 1 of 6 Independent Auditor’s Report To the Board of Directors of Tata Consultancy Services Limited Report on the audit of the Consolidated Financial Results Opinion We have audited the accompanying Statement of Consolidated Financial Results of Tata Consultancy Services Limited (“Holding Company”) and its subsidiaries (Holding Company and its subsidiaries together referred to as “the Group”), for the quarter ended 30 September 2026 and for the period from 1 April 2026 to 30 September 2026, (“the Statement”), being submitted by the Holding Company pursuant to the requirement of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations"). In our opinion and to the best of our information and according to the explanations given to us, the Statement: a. includes the results of the entities mentioned in Annexure I to the Statement; b. is presented in accordance with the requirements of Regulation 33 of the Listing Regulations as amended; and c. gives a true and fair view in conformity with the applicable accounting standards, and other accounting principles generally accepted in India, of consolidated total comprehensive income (comprising of net profit and other comprehensive loss/income) and other financial information of the Group for the quarter ended 30 September 2026 and for the period from 1 April 2026 to 30 September 2026. Basis for Opinion We conducted our audit in accordance with the Standards on Auditing (“SAs”) specified under section 143(10) of the Companies Act, 2013 (“the Act”). Our responsibilities under those SAs are further described in the Auditor’s Responsibilities for the Audit of the Consolidated Financial Results section of our report. We are independent of the Group in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act, and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence we have obtained, is sufficient and appropriate to provide a basis for our opinion on the consolidated financial results. Management’s and Board of Directors’/Trustees' Responsibilities for the Consolidated Financial Results These quarterly consolidated financial results as well as the year to date consolidated financial results have been prepared on the basis of the consolidated interim financial statements. The Holding Company’s Management and the Board of Directors are responsible for the preparation and presentation of these consolidated financial results that give a true and fair view of the consolidated net profit/ loss and other comprehensive income and other financial information of the Group in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, ‘Interim Financial Reporting’ prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The respective Management and Board of Directors/Trustees of the companies/entities included in the Group are responsible for maintenance of adequate accounting records
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B S R & Co. LLP Independent Auditor’s Report(Continued) Tata Consultancy Services Limited Page 2 of 6 in accordance with the provisions of the Act for safeguarding of the assets of each company/entity and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring accuracy and completeness of the accounting records, relevant to the preparation and presentation of the consolidated financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error, which have been used for the purpose of preparation of the consolidated financial results by the Management and the Board of Directors of the Holding Company, as aforesaid. In preparing the consolidated financial results, the respective Management and the Board of Directors/Trustees of the companies/entities included in the Group are responsible for assessing the ability of each company/entity to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the respective Board of Directors/Trustees either intends to liquidate the company/entity or to cease operations, or has no realistic alternative but to do so. The respective Board of Directors/Trustees of the companies/entities included in the Group is responsible for overseeing the financial reporting process of each company/entity. Auditor’s Responsibilities for the Audit of the Consolidated Financial Results Our objectives are to obtain reasonable assurance about whether the consolidated financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated financial results. As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also: – Identify and assess the risks of material misstatement of the consolidated financial results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. – Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Group’s internal control. – Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures in the consolidated financial results made by the Management and Board of Directors. – Conclude on the appropriateness of the Management’s and Board of Directors’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the appropriateness of this assumption. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the consolidated financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Group to cease to continue as a going concern. – Evaluate the overall presentation, structure and content of the consolidated financial results, including the disclosures, and whether the consolidated financial results represent the underlying transactions and events in a manner that achieves fair presentation.
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B S R & Co. LLP Independent Auditor’s Report(Continued) Tata Consultancy Services Limited Page 3 of 6 We communicate with those charged with governance of the Holding Company and such other entities included in the consolidated financial results of which we are the independent auditors regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards. We also performed procedures in accordance with the circular issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable. For B S R & Co. LLP Chartered Accountants Firm’s Registration No.:101248W/W-100022 Aniruddha Godbole Partner Mumbai Membership No.: 105149 08 October 2026 UDIN:26105149UNGBRP2180 Aniruddha Shreekant Godbole Digitally signed by Aniruddha Shreekant Godbole Date: 2026.10.08 14:44:59 +05'30'
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B S R & Co. LLP Independent Auditor’s Report(Continued) Tata Consultancy Services Limited Page 4 of 6 Annexure I The consolidated financial results include financial results of the Holding Company and the following entities: Sr. No. Name of component Relationship 1 APTOnline Limited Subsidiary 2 C-Edge Technologies Limited Subsidiary 3 Diligenta Limited Subsidiary 4 MahaOnline Limited Subsidiary 5 MP Online Limited Subsidiary 6 Tata America International Corporation Subsidiary 7 Tata Consultancy Services (Africa) (Proprietary) Limited Subsidiary 8 Tata Consultancy Services Asia Pacific Pte Ltd. Subsidiary 9 Tata Consultancy Services Belgium Subsidiary 10 Tata Consultancy Services Canada Inc. Subsidiary 11 Tata Consultancy Services Deutschland GmbH Subsidiary 12 Tata Consultancy Services Netherlands B.V. Subsidiary 13 Tata Consultancy Services Qatar Subsidiary 14 Tata Consultancy Services Sverige Aktiebolag Subsidiary 15 TCS e-Serve International Limited Subsidiary 16 TCS FNS Pty Limited Subsidiary 17 TCS Iberoamerica S.A. Subsidiary 18 Tata Consultancy Services Indonesia, PT Subsidiary 19 Tata Consultancy Services (China) Co., Ltd. Subsidiary 20 Tata Consultancy Services (Philippines) Inc. Subsidiary 21 Tata Consultancy Services (Thailand) Limited Subsidiary 22 MGDC S.C. Subsidiary 23 Tata Consultancy Services Argentina S.A. Subsidiary 24 Tata Consultancy Services De Mexico, S.A. De C.V. Subsidiary 25 Tata Consultancy Services Do Brasil Ltda. Subsidiary 26 TCS Inversiones Chile Limitada Subsidiary
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B S R & Co. LLP Independent Auditor’s Report(Continued) Tata Consultancy Services Limited Page 5 of 6 Sr. No. Name of component Relationship 27 Tata Consultancy Services France Subsidiary 28 TCS Uruguay S.A. Subsidiary 29 TCS Solution Center S.A. (Merged with TCS Uruguay S.A. w.e.f. 01 October 2025) Subsidiary 30 Tata Consultancy Services De Espana S.A. Subsidiary 31 Tata Consultancy Services Luxembourg S.A. Subsidiary 32 Tata Consultancy Services Osterreich GmbH Subsidiary 33 Tata Consultancy Services Saudi Arabia Subsidiary 34 Tata Consultancy Services Switzerland Ltd Subsidiary 35 TCS Business Services GmbH Subsidiary 36 Tata Consultancy Services Ireland Limited Subsidiary 37 TCS Technology Solutions GmbH Subsidiary 38 Tata Consultancy Services Bulgaria EOOD Subsidiary 39 Tata Consultancy Services Guatemala, S.A. Subsidiary 40 Tata Consultancy Services UK Limited Subsidiary 41 Diligenta (Europe) B.V. Subsidiary 42 TCS Foundation Subsidiary 43 Tata Consultancy Services Japan, Ltd. Subsidiary 44 Tata Consultancy Services Malaysia Sdn. Bhd. Subsidiary 45 Tata Consultancy Services Italia S.R.L. Subsidiary 46 Tata Consultancy Services (South Africa) (Proprietary) Limited Subsidiary 47 Tata Consultancy Services Chile S.A. Subsidiary 48 Tatasolution Center S.A. Subsidiary 49 Tata Consultancy Services (Portugal), Unipessoal Lda Subsidiary 50 TCS Financial Solutions Australia Pty Ltd Subsidiary 51 TRIL Bengaluru Real Estate Five Limited Subsidiary 52 TRIL Bengaluru Real Estate Six Limited Subsidiary 53 HyperVault AI Data Center Limited (Incorporated w.e.f. 29 October 2025) Subsidiary
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B S R & Co. LLP Independent Auditor’s Report(Continued) Tata Consultancy Services Limited Page 6 of 6 Sr. No. Name of component Relationship 54 Tata Consultancy Services BT Private Limited (Incorporated w.e.f. 16 December 2025) Subsidiary 55 3-101-951221 S.A. (Incorporated w.e.f. 15 December 2025) Subsidiary 56 TCS North America Corporation (Incorporated w.e.f. 15 December 2025) Subsidiary 57 Trident LE LLC (Incorporated w.e.f. 15 December 2025 and merged with Coastal Cloud Holdings, LLC w.e.f. 14 January 2026) Subsidiary 58 Tata Consultancy Services (North America) Holdings, LLC (Formerly known as List Engage Midco, LLC) (Acquired w.e.f. 10 October 2025) Subsidiary 59 ListEngage, LLC (Acquired w.e.f. 10 October 2025) Subsidiary 60 Coastal Cloud Holdings, LLC (Acquired w.e.f. 14 January 2026) Subsidiary 61 CC StructureCo, LLC (Acquired w.e.f. 14 January 2026) Subsidiary 62 Coastal Cloud Intermediate, LLC (Acquired w.e.f. 14 January 2026) Subsidiary 63 Coastal Cloud, LLC (Acquired w.e.f. 14 January 2026) Subsidiary 64 Coastal Cloud Canada Corp. (Acquired w.e.f. 14 January 2026) Subsidiary 65 Coastal Cloud NA LLC (Formerly known as SCP V-B Blocker III LLC) (Acquired w.e.f. 14 January 2026) Subsidiary 66 Tata Consultancy Services Maroc SARL AU (Incorporated w.e.f. 23 January 2026) Subsidiary 67 Tata Consultancy Services Regional Headquarters (Incorporated w.e.f. 18 January 2026) Subsidiary 68 Tata Sons & Consultancy Services Employees’ Welfare Trust Trust 69 TCS e-Serve International Limited - Employees’ Welfare Benefit Trust Trust
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Year ended September 30, June 30, September 30, September 30, September 30, March 31, 2026 2026 2025 2026 2025 2026 Revenue from operations 73,188 72,275 65,799 1,45,463 1,29,236 2,67,021 Other income 1,337 1,568 867 2,905 2,527 4,402 TOTAL INCOME 74,525 73,843 66,666 1,48,368 1,31,763 2,71,423 Expenses Employee benefit expenses 41,890 42,137 38,606 84,027 76,321 1,54,994 Cost of equipment and software licences 1,352 1,354 967 2,706 1,693 4,399 Finance costs 252 273 229 525 424 1,227 Depreciation and amortisation expense 1,262 1,239 1,413 2,501 2,774 5,560 Other expenses 11,131 10,228 8,248 21,359 16,369 35,230 TOTAL EXPENSES 55,887 55,231 49,463 1,11,118 97,581 2,01,410 PROFIT BEFORE EXCEPTIONAL ITEMS AND TAX 18,638 18,612 17,203 37,250 34,182 70,013 Exceptional items Re-structuring expenses - - 1,135 - 1,135 1,388 Statutory impact of new Labour Codes - - - - - 2,128 Settlement of legal claim - 668 - 668 - 1,010 PROFIT BEFORE TAX 18,638 17,944 16,068 36,582 3 3,047 65,487 Tax expense Current tax 4,723 4,722 3,969 9,445 8,132 16,388 Deferred tax (19) (198) (32) (217) (35) (355) TOTAL TAX EXPENSE 4,704 4,524 3,937 9,228 8,097 16,033 PROFIT FOR THE PERIOD 13,934 13,420 12,131 27,354 24,950 49,454 OTHER COMPREHENSIVE INCOME (OCI) Items that will not be reclassified subsequently to profit or loss Remeasurement of defined employee benefit plans 82 (121) 45 (39) 53 482 Net change in fair values of investments in equity shares carried at fair value through OCI (1) 2 - 1 38 35 Income tax on items that will not be reclassified subsequently to profit or loss (14) 24 (7) 10 (9) (114) Items that will be reclassified subsequently to profit or loss Net change in fair values of investments other than equity shares carried at fair value through OCI (693) 538 (354) (155) (147) (1,066) Net change in intrinsic value of derivatives designated as cash flow hedges (58) 76 (20) 18 (11) (9) Net change in time value of derivatives designated as cash flow hedges 23 (5) 18 18 (22) - Exchange differences on translation of financial statements of foreign operations 315 (108) 649 207 1,754 3,149 Income tax on items that will be reclassified subsequently to profit or loss 183 (153) 89 30 45 273 TOTAL OTHER COMPREHENSIVE INCOME / (LOSSES) (163) 253 420 90 1,701 2,750 TOTAL COMPREHENSIVE INCOME FOR THE PERIOD 13,771 13,673 12,551 2 7,444 26,651 52,204 Profit for the period attributable to: Shareholders of the Company 13,884 13,349 12,075 27,233 24,835 49,210 Non-controlling interests 50 71 56 121 115 244 13,934 13,420 12,131 27,354 24,950 49,454 Other comprehensive income for the period attributable to: Shareholders of the Company (189) 260 410 7 1 1,658 2,711 Non-controlling interests 26 (7) 10 19 43 39 (163) 253 420 90 1,701 2,750 Total comprehensive income for the period attributable to: Shareholders of the Company 13,695 13,609 12,485 27,304 26,493 51,921 Non-controlling interests 76 64 66 140 158 283 13,771 13,673 12,551 27,444 26,651 52,204 Paid up equity share capital (Face value: `1 per share) 362 362 362 362 362 362 Total reserves (including Non-controlling interests) 1,08,116 (`` crore) Audited Consolidated Interim Statement of Financial Results Tel: +91 22 6778 9595 e-mail: investor.relations@tcs.com Website: www.tcs.com CIN: L22210MH1995PLC084781 Registered Office: 9th Floor, Nirmal Building, Nariman Point, Mumbai 400 021 TATA CONSULTANCY SERVICES LIMITED Three months ended Six months ended Earnings per equity share:- Basic and diluted (`) 38.37 36.90 33.37 75.27 68.64 136.01 Dividend per share (Par value ``1 each) Interim dividend on equity shares (`) 12.00 12.00 11.00 24.00 22.00 79.00 Final dividend on equity shares (`) - - - - - 31.00 Total dividend on equity shares (`) 12.00 12.00 11.00 24.00 22.00 110.00 Total equity dividend percentage 1,200 1,200 1,100 2,400 2,200 11,000
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Year ended September 30, June 30, September 30, September 30, September 30, March 31, 2026 2026 2025 2026 2025 2026 SEGMENT REVENUE Banking, Financial Services and Insurance 28,882 27,990 25,717 56,872 50,453 1,03,363 Manufacturing 7,346 7,110 6,631 14,456 13,032 26,614 Consumer Business 11,137 11,146 10,351 22,283 20,506 42,432 Communication, Media and Technology 10,862 10,614 9,802 21,476 19,238 39,474 Life Sciences and Healthcare 7,589 7,429 6,884 15,018 13,306 27,745 Others 7,372 7,986 6,414 15,358 12,701 27,393 Total 73,188 72,275 65,799 1,45,463 1,29,236 2,67,021 SEGMENT RESULT Banking, Financial Services and Insurance 7,351 7,177 6,818 14,528 13,034 27,011 Manufacturing 2,044 1,983 2,021 4,027 4,019 8,051 Consumer Business 3,316 3,308 2,868 6,624 5,667 12,090 Communication, Media and Technology 2,913 2,845 2,833 5,757 5,488 11,473 Life Sciences and Healthcare 1,918 1,834 1,891 3,752 3,466 7,504 Others 1,273 1,409 1,547 2,683 3,180 6,269 Total 18,815 18,556 17,978 37,371 34,853 72,398 Unallocable expenses* 1,514 2,180 2,777 3,694 4,333 11,313 Operating income 17,301 16,376 15,201 33,677 30,520 61,085 Other income 1,337 1,568 867 2,905 2,527 4,402 PROFIT BEFORE TAX 18,638 17,944 16,068 36,582 33,047 65,487 Three months ended Six months ended TATA CONSULTANCY SERVICES LIMITED Audited Consolidated Interim Segment Information (`` crore) Note: The assets and liabilities of the Gro up are used interchangeably amongst segments. Allocation of such assets and liabilit ies is not practicable and any forced allocation would not result in any meaningful segreg ation. Hence, assets and liabilities have not been identified to any of the reportable segments. *All expenses which are not attributable or allocable to segments or are non-recurring in nature have been disclosed as unallocable expenses. Following exceptional items are part of unallocable expenses: x Re-structuring expenses of `1,135 crore in the three and six months ended September 30, 2025. x Re-structuring expenses of `1,388 crore in year ended March 31, 2026. x Statutory impact of new labour codes of `2,128 crore in year ended March 31, 2026. x Settlement of legal claim rel ating to litigation with Comput er Sciences Corporation of `668 crore in three months ended June 30, 2026 and the six months ended Sep 30,2026 and `1,010 crore in year ended March 31, 2026 respectively.
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As at As at September 30, 2026 March 31, 2026 ASSETS Non-current assets Property, plant and equipment 11,893 11,032 Capital work-in-progress 2,380 2,665 Right-of-use assets 11,692 11,027 Goodwill 8,463 8,384 Other intangible assets 824 879 Financial assets Investments 258 218 Trade receivables Billed 209 99 Unbilled 137 114 Loans 1,024 775 Other financial assets 1,762 2,944 Deferred tax assets (net) 4,551 4,465 Income tax assets (net) 1,817 1,439 Other assets 2,263 2,605 Total non-current assets 47,273 46,646 Current assets Inventories 28 29 Financial assets Investments 40,582 33,770 Trade receivables Billed 58,516 57,630 Unbilled 10,512 10,084 Cash and cash equivalents 5,106 6,417 Other balances with banks 8,952 6,491 Loans 1,563 1,659 Other financial assets 2,489 1,833 Income tax assets (net) 642 1,259 Other assets 15,119 16,533 Total current assets 1,43,509 1,35,705 TOTAL ASSETS 1,90,782 1,82,351 EQUITY AND LIABILITIES Equity Share capital 362 362 Other equity 1,18,624 1,06,878 Equity attributable to shareholders of the Company 1,18,986 1,07,240 Non-controlling interests 1,008 1,238 Total equity 1,19,994 1,08,478 Liabilities Non-current liabilities Financial liabilities Class B compulsorily convertible preference shares 126 126 Lease liabilities 10,059 9,453 Other financial liabilities 522 588 Employee benefit obligations 871 961 Deferred tax liabilities (net) 1,056 1,184 Unearned and deferred revenue 267 647 Total non-current liabilities 12,901 12,959 Current liabilities Financial liabilities Lease liabilities 1,749 1,830 Trade payables 15,206 14,808 Other financial liabilities 8,013 11,194 Unearned and deferred revenue 4,232 4,487 Other liabilities 7,048 6,866 Provisions 459 1,378 Employee benefit obligations 6,080 5,600 Income tax liabilities (net) 15,100 14,751 Total current liabilities 57,887 60,914 TOTAL EQUITY AND LIABILITIES 1,90,782 1,82,351 TATA CONSULTANCY SERVICES LIMITED Audited Consolidated Interim Balance Sheet (`` crore)
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Select explanatory notes to the Statement of Audited Consolidate d Interim Financial Results for th ree months and six-months end ed September 30, 2026 1. Audited Consolidated Interim Statement of Financial Results for the three months and six-months ended September 30, 2026 have b een prepared in accordance with the Indian Accounting Standard (referred to as "Ind AS") 34 - Interim Financial Reporting prescribed under Section 133 of the Companies Act, 2013 read wi th Companies (Indian Accounting Standards) Rules as amended from time to time. Th ese results have been reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on October 8, 2026. The statutory auditors have expressed an unmodified audit opinion on these results. 2. Audited Consolidated Interim Statement of Cash Flows is attached in Annexure I. 3. ListEngage Midco, LLC renamed to Tata Consultancy Services (North America) Holdings, LLC w.e.f. July 2, 2026. 4. During the quarter, Tata Consultancy Services Netherlands B.V., a wholly owned subsidiary of the Company signed a definitive agreement to acquire 100% stake in MHP Management- und IT-Beratung GmbH along with its subsidiaries (“MHP”), a leading automotive and industrial con sulting firm with expertise in business consulting, digital transformation, AI, software-defined mobility, SAP and manufacturing digitalizat ion, for a cash consideration based on an enterprise value of EUR 320 million (equivalent to ₹3,484 crore) subject to regulatory approvals and other conditions. 5. The Board of Directors at its meeting held on October 8, 2026, has declared an interim dividend of `12.00 per equity share. 6. The results for three months and six months ended September 30, 2026, are available on the BSE Limited website (URL: www.bseindia.com), the National Stock Exchange of India Limited website (URL: www.nseindia.com) and on the Company’s website (URL: www.tcs.com/investors). For and on behalf of the Board of Directors Mumbai K Krithivasan October 8, 2026 CEO and Managing Director DIN: 10106739 KUNCHITHAM KRITHIVASAN Digitally signed by KUNCHITHAM KRITHIVASAN Date: 2026.10.08 14:30:27 +05'30'
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Year ended September 30, September 30, March 31, 2026 2025 2026 CASH FLOWS FROM OPERATING ACTIVITIES Profit for the period 27,354 24,950 49,454 Adjustments for: Depreciation and amortisation expense 2,501 2,774 5,560 Bad debts and advances written off, allowance for expected credit losses and doubtful advances (net) 161 63 184 Provision towards legal claim 131 - 1,010 Provision towards Re-structuring expenses - - 120 Tax expense 9,228 8,097 16,033 Net gain on lease modification - (15) (110) Net gain on sub-lease - - (8) Unrealised foreign exchange gain (19) (99) (176) Net gain on disposal of property, plant and equipment (19) (1) (17) Net gain on disposal / fair valuation of investments (318) (251) (701) Net loss / (gain) on fair valuation of call option 14 (43) (17) Transaction cost on incorporation of subsidiary - - 18 Interest income (1,693) (2,152) (3,854) Dividend income (16) (18) (35) Finance costs 525 424 1,227 Operating profit before working capital changes 37,849 33,729 68,688 Net change in Inventories 1 (5) (8) Trade receivables Billed (887) (2,258) (4,778) Unbilled (305) 134 (470) Loans and other financial assets (171) 583 197 Other assets 1,892 (395) 837 Trade payables 361 (1,046) (1,105) Unearned and deferred revenue (704) (499) 320 Other financial liabilities (2,893) 623 2,814 Other liabilities and provisions (695) 161 (17) Cash flows generated from operations 34,448 31,027 66,478 Taxes paid (net of refunds) (8,647) (6,083) (14,384) Net cash flows generated from operating activities 25,801 24,944 52,094 CASH FLOWS FROM INVESTING ACTIVITIES Bank deposits placed (4,813) (4,563) (8,506) Inter-corporate deposits placed (1,000) (750) (1,500) Purchase of investments (90,688) (73,527) (151,864) Payment for purchase of property, plant and equipment (1,926) (1,868) (3,670) Payment including advances for acquiring right-of-use assets (214) (56) (109) Payment for purchase of intangible assets (107) (137) (408) Earmarked deposits placed with banks - - (530) Acquisition of assets - (554) (554) Acquisition of subsidiaries (net of cash of `130 crore) - - (6,750) Advance towards acquisition of investment - (250) (250) Proceeds from bank deposits 3,224 3,293 9,259 Proceeds from inter-corporate deposits 750 - - Proceeds from disposal / redemption of investments (including reverse repo (net)) 83,877 65,796 148,023 Proceeds from sub-lease receivable 6 2 9 Proceeds from disposal of property, plant and equipment 38 10 65 Proceeds from disposal of intangible assets - - 41 Proceeds from Earmarked deposits - - 825 Interest received 1,419 1,403 3,008 Dividend received 44 36 84 Transaction cost on incorporation of subsidiary - - (18) Net cash flows used in investing activities (9,390) (11,165) (12,845) (`` crore) Six month ended Annexure I TATA CONSULTANCY SERVICES LIMITED Audited Consolidated Interim Statement of Cash Flows
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Year ended September 30, September 30, March 31, 2026 2025 2026 CASH FLOWS FROM FINANCING ACTIVITIES Repayment of lease liabilities (991) (892) (1,861) Interest paid (856) (452) (901) Dividend paid (15,558) (14,834) (39,437) Dividend paid to non-controlling interests (370) (127) (134) Issue of equity shares to non-controlling interests - - 3 Issue of Class A compulsorily convertible preference shares to non-controlling interests - - 71 Issue of Class B compulsorily convertible preference shares - - 126 Net cash flows used in financing activities (17,775) (16,305) (42,133) Net change in cash and cash equivalents (1,364) (2,526) (2,884) Cash and cash equivalents at the beginning of the period 6,417 8,342 8,342 Exchange difference on translation of foreign currency cash and cash equivalents 53 542 959 Cash and cash equivalents at the end of the period 5,106 6,358 6,417 Components of cash and cash equivalents Balances with banks In current accounts 2,737 3,090 3,193 In deposit accounts 2,368 3,266 3,217 Cheques on hand -* -* -* Cash on hand -* -* -* Remittances in transit 1 2 7 5,106 6,358 6,417 *Represents value less than `0.50 crore. Six month ended TATA CONSULTANCY SERVICES LIMITED Audited Consolidated Interim Statement of Cash Flows (`` crore)
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B S R & Co. LLP Chartered Accountants 14th Floor, Central B Wing and North C Wing Nesco IT Park 4, Nesco Center Western Express Highway Goregaon (East), Mumbai – 400 063, India Telephone: +91 (22) 6257 1000 Fax: +91 (22) 6257 1010 Registered Office: B S R & Co. (a partnership firm with Registration No. BA61223) converted into B S R & Co. LLP (a Limited Liability Partnership with LLP Registration No. AAB-8181) with effect from October 14, 2013 14th Floor, Central B Wing and North C Wing, Nesco IT Park 4, Nesco Center, Western Express Highway, Goregaon (East), Mumbai - 400063 Page 1 of 3 Independent Auditor’s Report To the Board of Directors of Tata Consultancy Services Limited Report on the audit of the Standalone Financial Results Opinion We have audited the accompanying standalone quarterly financial results of Tata Consultancy Services Limited (“the Company”) for the quarter ended 30 September 2026 and the year-to-date results for the period from 1 April 2026 to 30 September 2026, attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations"). In our opinion and to the best of our information and according to the explanations given to us, these standalone financial results: a. are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and b. give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable accounting standards, and other accounting principles generally accepted in India, of the net profit and other comprehensive loss and other financial information for the quarter ended 30 September 2026 as well as for the year to date results for the period from 1 April 2026 to 30 September 2026. Basis for Opinion We conducted our audit in accordance with the Standards on Auditing (“SAs”) specified under section 143(10) of the Companies Act, 2013 (“the Act”). Our responsibilities under those SAs are further described in the Auditor’s Responsibilities for the Audit of the Standalone Financial Results section of our report. We are independent of the Company, in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act, and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence we have obtained, is sufficient and appropriate to provide a basis for our opinion. Management’s and Board of Directors’ Responsibilities for the Standalone Financial Results These quarterly financial results as well as the year to date standalone financial results have been prepared on the basis of the interim financial statements. The Company’s Management and the Board of Directors are responsible for the preparation of these standalone financial results that give a true and fair view of the net profit/ loss and other comprehensive income and other financial information in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, ‘Interim Financial Reporting’ prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring accuracy and completeness of the accounting records, relevant to the preparation and presentation of the standalone financial results that give a true and fair view and are
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B S R & Co. LLP Independent Auditor’s Report(Continued) Tata Consultancy Services Limited Page 2 of 3 free from material misstatement, whether due to fraud or error. In preparing the standalone financial results, the Management and the Board of Directors are responsible for assessing the Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so. The Board of Directors is also responsible for overseeing the Company’s financial reporting process. Auditor’s Responsibilities for the Audit of the Standalone Financial Results Our objectives are to obtain reasonable assurance about whether the standalone financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these standalone financial results. As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also: – Identify and assess the risks of material misstatement of the standalone financial results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. – Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company’s internal control. – Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures in the standalone financial results made by the Management and Board of Directors. – Conclude on the appropriateness of the Management’s and Board of Directors’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the standalone financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Company to cease to continue as a going concern. – Evaluate the overall presentation, structure and content of the standalone financial results, including the disclosures, and whether the standalone financial results represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
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B S R & Co. LLP Independent Auditor’s Report(Continued) Tata Consultancy Services Limited Page 3 of 3 We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards. For B S R & Co. LLP Chartered Accountants Firm’s Registration No.:101248W/W-100022 Aniruddha Godbole Partner Mumbai Membership No.: 105149 08 October 2026 UDIN:26105149DAJCPQ1433 Aniruddha Shreekant Godbole Digitally signed by Aniruddha Shreekant Godbole Date: 2026.10.08 14:44:18 +05'30'
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Year ended September 30, June 30, September 30, September 30, September 30, March 31, 2026 2026 2025 2026 2025 2026 Revenue from operations 60,441 59,553 54,531 1,19,994 1,07,319 2,20,938 Other income 3,049 3,406 1,768 6,455 4,471 10,036 TOTAL INCOME 63,490 62,959 56,299 126,449 1,11,790 2,30,974 Expenses Employee benefit expenses 29,750 30,058 28,030 59,808 55,670 1,12,142 Cost of equipment and software licences 1,028 1,095 775 2,123 1,398 3,476 Finance costs 206 247 203 453 374 1,124 Depreciation and amortisation expense 962 915 1,139 1,877 2,242 4,288 Other expenses 13,268 12,267 10,058 25,535 19,826 43,071 TOTAL EXPENSES 45,214 44,582 40,205 89,796 79,510 1,64,101 PROFIT BEFORE EXCEPTIONAL ITEMS AND TAX 18,276 18,377 16,094 36, 653 32,280 66,873 Exceptional items Re-structuring expenses - - 850 - 850 929 Statutory impact of new Labour Codes - - - - - 2,128 Settlement of legal claim - 668 - 668 - 1,010 PROFIT BEFORE TAX 18,276 17,709 15,244 35,985 31,430 62,806 Tax Expense Current tax 4,169 4,099 3,437 8,268 7,097 14,178 Deferred tax 3 (32) (21) (29) (47) (468) TOTAL TAX EXPENSE 4,172 4,067 3,416 8,239 7,050 13,710 PROFIT FOR THE PERIOD 14,104 13,642 11,828 27,746 24,380 49,096 OTHER COMPREHENSIVE INCOME (OCI) Items that will not be reclassified subsequently to profit or loss Remeasurement of defined employee benefit plans (13) (215) 2 (228) 1 274 Income tax on items that will not be reclassified subsequently to profit or loss 3 54 - 57 - (69) Items that will be reclassified subsequently to profit or loss Net change in fair values of investments other than equity shares carried at fair value through OCI (693) 538 (354) (155) (147) (1,066) Net change in intrinsic value of derivatives designated as cash flow hedges (58) 7 6 (20) 18 (11) (9) Net change in time value of derivatives designated as cash flow hedges 23 (5) 18 18 (22) - Income tax on items that will be reclassified subsequently to profit or loss 183 (153) 89 30 45 270 TOTAL OTHER COMPREHENSIVE INCOME / (LOSSES) (555) 295 (265) (260) (134) (600) TOTAL COMPREHENSIVE INCOME FOR THE PERIOD 13,549 13,937 11,563 27,486 24,246 48,496 Paid up equity share capital (Face value: `1 per share) 362 362 362 362 362 362 Total reserves 84,314 Three months ended (`` crore) Six months ended Audited Standalone Interim Statement of Financial Results TATA CONSULTANCY SERVICES LIMITED Registered Office: 9th Floor, Nirmal Building, Nariman Point, Mumbai 400 021 CIN: L22210MH1995PLC084781 Tel: +91 22 6778 9595 e-mail: investor.relations@tcs.com Website: www.tcs.com Earnings per equity share:- Basic and diluted (`) 38.98 37.70 32.70 76.69 67.38 135.70 Dividend per share (Par value ``1 each) Interim dividend on equity shares (`) 12.00 12.00 11.00 24.00 22.00 79.00 Final dividend on equity shares (`) - - - - - 31.00 Total dividend on equity shares (`) 12.00 12.00 11.00 24.00 22.00 110.00 Total equity dividend percentage 1,200 1,200 1,100 2,400 2,200 11,000
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As at As at September 30, 2026 March 31, 2026 ASSETS Non-current assets Property, plant and equipment 9,089 8,259 Capital work-in-progress 2,049 2,402 Right-of-use assets 9,778 9,245 Intangible assets 174 206 Financial assets Investments 11,181 11,181 Trade receivables Billed 209 99 Unbilled 128 102 Loans 1,002 752 Other financial assets 878 1,160 Deferred tax assets (net) 3,548 3,452 Income tax assets (net) 826 714 Other assets 1,151 1,426 Total non-current assets 40,013 38,998 Current assets Inventories 28 29 Financial assets Investments 33,533 29,909 Trade receivables Billed 53,779 48,892 Unbilled 8,568 8,084 Cash and cash equivalents 1,321 1,833 Other balances with banks 4,667 2,953 Loans 1,632 1,704 Other financial assets 2,067 1,650 Income tax assets (net) 509 1,224 Other assets 12,169 13,992 Total current assets 1,18,273 1,10,270 TOTAL ASSETS 1,58,286 1,49,268 EQUITY AND LIABILITIES Equity Share capital 362 362 Other equity 96,242 84,314 Total equity 96,604 84,676 Liabilities Non-current liabilities Financial liabilities Lease liabilities 8,643 8,077 Other financial liabilities 413 489 Employee benefit obligations 201 200 Deferred tax liabilities (net) 295 258 Unearned and deferred revenue 214 608 Total non-current liabilities 9,766 9,632 Current liabilities Financial liabilities Lease liabilities 1,227 1,277 Trade payables Dues of small enterprises and micro enterprises 146 137 Dues of creditors other than small enterprises and micro enterprises 18,245 17,962 Other financial liabilities 5,355 8,452 Unearned and deferred revenue 3,597 3,660 Other liabilities 4,614 4,454 Provisions 205 1,146 Employee benefit obligations 4,522 4,144 Income tax liabilities (net) 14,005 13,728 Total current liabilities 51,916 54,960 TOTAL EQUITY AND LIABILITIES 1,58,286 1,49,268 TATA CONSULTANCY SERVICES LIMITED Audited Standalone Interim Balance Sheet (`` crore)
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Select explanatory notes to the Statement of Audited Standalone Interim Financial Results for three months and six-mon ths ended September 30, 2026 1. Audited Standalone Interim Statement of Financial Results for the three months and six-months ended September 30, 2026 have bee n prepared in accordance with the Indian A ccounting Standard (referred to as "Ind AS") 34 - Interim Financial Reporting prescribe d under Section 133 of the Companies Act, 2013 read with Companies (Indian Accounting Standards) Rules as amended from time to time. Th ese results have been reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on October 8, 2026 . The statutory auditors have expressed an unmodified audit opinion on these results. 2. Audited Standalone Interim Statement of Cash Flows is attached in Annexure A. 3. The Board of Directors at its meeting held on October 8, 2026, has declared an interim dividend of `12.00 per equity share. 4. The results for three months and six months ended September 30, 2026, are available on the BSE Limited website (URL: www.bseindia.com), the National Stock Exchange of India Limited website (URL: www.nseindia.com) and on the Company’s website (URL: www.tcs.com/investors). For and on behalf of the Board of Directors Mumbai K Krithivasan October 8, 2026 CEO and Managing Director DIN: 10106739 KUNCHITHAM KRITHIVASAN Digitally signed by KUNCHITHAM KRITHIVASAN Date: 2026.10.08 14:31:27 +05'30'
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Year ended September 30, September 30, March 31, 2026 2025 2026 CASH FLOWS FROM OPERATING ACTIVITIES Profit for the period 27,746 24,380 49,096 Adjustments for: Depreciation and amortisation expense 1,877 2,242 4,288 Bad debts and advances written off, allowance for expected credit losses and doubtful advances (net) 137 71 179 Provision towards legal claim 131 - 1,010 Tax expense 8,239 7,050 13,710 Net gain on lease modification - (3) (97) Net gain on sub-lease (2) - (3) Unrealised foreign exchange gain (18) (87) (164) Net gain on disposal of property, plant and equipment (19) (9) (27) Net gain on disposal / fair valuation of investments (247) (208) (459) Net loss / (gain) on fair valuation of call option 14 (43) (17) Interest income (1,493) (1,942) (3,446) Dividend income (Including exchange impact) (3,834) (2,141) (6,222) Finance costs 453 374 1,124 Operating profit before working capital changes 32,984 29,684 58,972 Net change in Inventories 1 (5) (9) Trade receivables Billed (5,133) (2,814) (4,668) Unbilled (510) (171) (767) Loans and other financial assets (74) 555 549 Other assets 1,828 (401) 523 Trade payables 292 180 616 Unearned and deferred revenue (457) (330) 402 Other financial liabilities (2,812) 197 2,176 Other liabilities and provisions (761) 41 (75) Cash flows generated from operations 25,358 26,936 57,719 Taxes paid (net of refunds) (7,123) (4,946) (12,122) Net cash flows generated from operating activities 18,235 21,990 45,597 CASH FLOWS FROM INVESTING ACTIVITIES Bank deposits placed (3,600) (2,880) (5,768) Inter-corporate deposits placed (1,025) (750) (1,511) Purchase of investments (66,646) (58,081) (114,465) Payment for purchase of property, plant and equipment (1,471) (1,578) (3,081) Payment including advances for acquiring right-of-use assets (4) (49) (105) Payment for purchase of intangible assets (29) (128) (348) Acquisition of subsidiaries - (554) (1,128) Advance towards acquisition of investment - (250) (250) Investment in subsidiaries - - (6,570) Proceeds from bank deposits 1,888 1,980 7,360 Proceeds from inter-corporate deposits 750 - - Proceeds from disposal / redemption of investments (including reverse repo (net)) 63,274 51,740 111,888 Proceeds from sub-lease receivable 10 3 10 Proceeds from disposal of property, plant and equipment 36 10 60 Interest received 1,251 1,128 2,559 Dividend received from subsidiaries 3,834 2,141 6,222 Net cash flows used in investing activities (1,732) (7,268) (5,127) Six month ended Annexure A TATA CONSULTANCY SERVICES LIMITED Audited Standalone Interim Statement of Cash Flows (`` crore)
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Year ended September 30, September 30, March 31, 2026 2025 2026 CASH FLOWS FROM FINANCING ACTIVITIES Repayment of lease liabilities (688) (641) (1,292) Int erest paid (797) (403) (798) Di vidend paid (15,558) (14,834) (39,437) Net cash flows used in financing activities (17,043) (15,878) (41,527) Net change in cash and cash equivalents (540) (1,156) (1,057) Cash and cash equivalents at the beginning of the period 1,833 2,610 2,610 Exchange difference on translation of foreign currency cash and cash equivalents 28 148 280 Cash and cash equivalents at the end of the period 1,321 1,602 1,833 Components of cash and cash equivalents Balances with banks In current accounts 1,171 1,354 1,713 In de posit accounts 150 247 118 Che ques on hand -* -* -* Cash on hand - -* -* Remittances in transit - 1 2 1,321 1,602 1,833 *Represents value less than `0.50 crore. Six month ended TATA CONSULTANCY SERVICES LIMITED Audited Standalone Interim Statement of Cash Flows (`` crore)
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9th Floor Nirmal Building Nariman Point Mumbai 400 021 Tel 91 22 6778 9595 Fax 91 22 6630 3672 e-mail corporate.office@tcs.com website www.tcs.com Registered Office 9th Floor Nirmal Building Nariman Point Mumbai 400 021 Corporate Identity No. (CIN): L22210MH1995PLC084781 Intimation as per NSE and BSE circulars dated July 14, 2023This is to inform you that pursuant to NSE circular no. NSE/CML/2023/57 and BSE Circular no. 20230714- 34 dated July 14, 2023, the meeting of the Board of Directors of the Company held today, October 8, 2026, commenced at 11.00 a.m. and concluded at 3.20 p.m. Thanking you, Yours faithfully, For Tata Consultancy Services Limited Yashaswin Sheth Company Secretary ACS 15388