TCS

What Tata Consultancy Services promised, and what happened

Every commitment management made on a call, tracked from the quarter it was made — reaffirmed, revised, diluted or quietly dropped.

Guidance record · Q4 FY26

what the last two calls moved 11 tracked 2 delivered 4 missed 5 open
  • Annual Order Book delivered said Q3 FY26 Promised: Achieve an annual order book of US$38-39 billion for FY26 Q4 FY26: The total TCV for FY26 was $40.7 billion, exceeding the projected range of $38-39 billion.
  • International Revenue Growth missed said Q3 FY25 Promised: International business in FY26/CY25 to be stronger than FY25/CY24 Q4 FY26: Full year FY26 constant currency revenue growth was -2.4%. Given the overall negative growth for the company, the target to have a 'stronger' year than FY25 was not met.
  • Operating Margin Aspiration on track said Q3 FY25 Promised: Reach the 26% to 28% operating margin band Q4 FY26: Q4 OPM was 25.3% and FY26 OPM was 25%. Management reiterated the goal to 'move towards 26%, but on a longer-term basis'.

The rest of the ledger

Above is what the last two calls moved. Pro opens all 11 tracked commitments for Tata Consultancy Services — every quarter's revision, the source quote behind each one, and the topics management has stopped answering.

See what Pro opens