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Tata Consultancy Services Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹2,147.33Overvalued by 10.83%vs CMP ₹2,408.00

P/E (17.0) × ROE (52.4%) × BV (₹294.00) × DY (2.49%)

₹1,482.79Overvalued by 38.42%vs CMP ₹2,408.00
MoS: -62.4% (Negative)Confidence: 58/100 (Moderate)Models: 2 Fair, 7 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹2,248.5622%Fair (-6.6%)
Graham NumberEarnings₹934.0216%Over (-61.2%)
Earnings PowerEarnings₹1,026.2913%Over (-57.4%)
DCFCash Flow₹1,743.9613%Over (-27.6%)
Net Asset ValueAssets₹296.387%Over (-87.7%)
EV/EBITDAEnterprise₹2,378.149%Fair (-1.2%)
Earnings YieldEarnings₹1,318.807%Over (-45.2%)
ROCE CapitalReturns₹1,288.679%Over (-46.5%)
Revenue MultipleRevenue₹1,058.445%Over (-56%)
Consensus (9 models)₹1,482.79100%Overvalued
Key Drivers: Wide model spread (₹296–₹2,378) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 4.7%

*Investments are subject to market risks

Analyst Summary

Tata Consultancy Services Ltd operates in the IT Consulting & Software segment, NSE: TCS | BSE: 532540, current market price is ₹2,408.00, market cap is 8,71,308 Cr.. At a glance, stock P/E is 17.0, ROE is 52.4 %, ROCE is 64.6 %, book value is 294, dividend yield is 2.49 %. The latest intrinsic value estimate is ₹1,482.79, around 38.4% below the current price, so expectations may already be running ahead of this modelled fair value. On operating trend, latest reported sales are about ₹255,324 Cr versus the prior period change of 6.0%, while latest net profit is about ₹48,797 Cr with a prior-period change of 5.9%. The 52-week range shown on this page is 3,630/2,346, which helps frame where the current quote sits within its recent trading band. Business context: About the Company - Qualitative AnalysisTata Consultancy Services Ltd. is a Public Limited Listed company incorporated on 19/01/1995 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number…

This summary is generated from the stock page data available for Tata Consultancy Services Ltd: Intrinsic Value & Share Price Analysis and is refreshed automatically when the underlying metrics change.

Investment Snapshot

66
Tata Consultancy Services Ltd scores 66/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health92/100 · Strong
ROCE 64.6% ExcellentROE 52.4% ExcellentD/E 0.00 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money45/100 · Moderate
FII holding down -1.67% (6mo) SellingDII holding up 1.32% MF buyingPromoter holding at 71.8% Stable
Earnings Quality50/100 · Moderate
OPM stable around 27% Steady
Quarterly Momentum40/100 · Moderate
Revenue (4Q): 3% YoY FlatProfit (4Q): -2% YoY Declining
Industry Rank90/100 · Strong
P/E 17.0 vs industry 44.0 Cheaper than peersROCE 64.6% vs industry 20.6% Above peersROE 52.4% vs industry 18.6% Above peers3Y sales CAGR: 10% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 2:54 am

Market Cap 8,71,308 Cr.
Current Price 2,408
Intrinsic Value₹1,482.79
High / Low 3,630/2,346
Stock P/E17.0
Book Value 294
Dividend Yield2.49 %
ROCE64.6 %
ROE52.4 %
Face Value 1.00
PEG Ratio3.61

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Tata Consultancy Services Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Tata Consultancy Services Ltd 8,71,308 Cr. 2,408 3,630/2,34617.0 2942.49 %64.6 %52.4 % 1.00
Infosys Ltd 5,17,124 Cr. 1,276 1,728/1,21517.9 2053.37 %37.5 %28.8 % 5.00
Mphasis Ltd 40,770 Cr. 2,137 3,037/2,01322.3 5052.67 %22.7 %18.2 % 10.0
Tata Elxsi Ltd 25,710 Cr. 4,127 6,735/3,96640.8 4341.82 %36.3 %29.3 % 10.0
Zensar Technologies Ltd 12,240 Cr. 538 895/51116.1 1882.42 %21.3 %16.4 % 2.00
Industry Average93,414.06 Cr648.3343.95156.220.97%20.61%18.63%7.00

All Competitor Stocks of Tata Consultancy Services Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 58,22959,16259,38159,69260,58361,23762,61364,25963,97364,47963,43765,79967,087
Expenses 42,67643,38844,38343,94644,19544,07345,95147,52846,93947,49946,56247,82148,818
Operating Profit 15,55315,77414,99815,74616,38817,16416,66216,73117,03416,98016,87517,97818,269
OPM % 27%27%25%26%27%28%27%26%27%26%27%27%27%
Other Income 5201,1751,3971,006-961,1579627291,2431,0281,660-268-2,273
Interest 160272163159230226173162234227195229538
Depreciation 1,2691,2861,2431,2631,2331,2461,2201,2661,3771,3791,3611,4131,380
Profit before tax 14,64415,39114,98915,33014,82916,84916,23116,03216,66616,40216,97916,06814,078
Tax % 26%26%26%26%25%26%25%25%25%25%24%24%24%
Net Profit 10,88311,43611,12011,38011,09712,50212,10511,95512,44412,29312,81912,13110,720
EPS in Rs 29.6431.1330.2631.0030.5634.3733.2832.9234.2233.7935.2733.3729.45

Last Updated: February 6, 2026, 12:16 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 24, 2026, 2:16 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 81,80994,648108,646117,966123,104146,463156,949164,177191,754225,458240,893255,324260,802
Expenses 56,65770,16777,96985,65590,588106,957114,840117,631138,697166,199176,597187,917190,700
Operating Profit 25,15324,48230,67732,31132,51639,50642,10946,54653,05759,25964,29667,40770,102
OPM % 31%26%28%27%26%27%27%28%28%26%27%26%27%
Other Income 1,6373,7203,0844,2213,6424,3114,5921,9164,0183,4493,4643,962147
Interest 391043332521989246377847797787961,189
Depreciation 1,3491,7991,8881,9872,0142,0563,5294,0654,6045,0224,9855,2425,533
Profit before tax 25,40226,29831,84034,51334,09241,56342,24843,76051,68756,90761,99765,33163,527
Tax % 24%24%24%24%24%24%23%26%26%26%26%25%
Net Profit 19,33220,06024,33826,35725,88031,56232,44732,56238,44942,30346,09948,79747,963
EPS in Rs 48.9250.6861.5866.7167.4683.8786.1987.67104.75115.19126.88134.20131.88
Dividend Payout % 33%78%35%35%37%36%85%43%41%100%58%94%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)3.77%21.33%8.30%-1.81%21.96%2.80%0.35%18.08%10.02%8.97%5.85%
Change in YoY Net Profit Growth (%)0.00%17.56%-13.03%-10.11%23.76%-19.15%-2.45%17.72%-8.06%-1.05%-3.12%

Tata Consultancy Services Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:10%
5 Years:10%
3 Years:10%
TTM:5%
Compounded Profit Growth
10 Years:10%
5 Years:8%
3 Years:8%
TTM:4%
Stock Price CAGR
10 Years:9%
5 Years:6%
3 Years:0%
1 Year:-31%
Return on Equity
10 Years:41%
5 Years:47%
3 Years:50%
Last Year:52%

Last Updated: September 5, 2025, 4:05 am

Balance Sheet

Last Updated: April 21, 2026, 2:30 am

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital 196197197191375375370366366362362362
Reserves 50,43970,87586,01784,93789,07183,75186,06388,77390,05890,12794,394106,878
Borrowings 358245289247628,1747,7957,8187,6888,0219,39211,283
Other Liabilities 22,32516,97415,83019,75124,39327,82735,76443,96744,74746,96254,50162,644
Total Liabilities 73,31888,291102,333105,126113,901120,127129,992140,924142,859145,472158,649181,167
Fixed Assets 11,63811,77411,70111,97312,29020,92821,02121,29820,51519,60423,05331,343
CWIP 2,7661,6701,5411,2789639069261,2051,2341,5641,5462,665
Investments 1,66222,82241,98036,00829,33026,35629,37330,48537,16331,76230,96433,988
Other Assets 57,25252,02547,11155,86771,31871,93778,67287,93683,94792,542103,086113,171
Total Assets 73,31888,291102,333105,126113,901120,127129,992140,924142,859145,472158,649181,167

Reserves and Borrowings Chart

Cash Flow

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity + 19,36919,10925,22325,06728,59332,36938,80239,94941,96544,33848,90852,094
Cash from Investing Activity + -1,807-5,010-16,8953,1041,6458,968-7,956-7385486,091-2,144-11,886
Cash from Financing Activity + -17,168-9,666-11,026-26,885-27,897-39,915-32,634-33,581-47,878-48,536-47,438-42,133
Net Cash Flow 3944,433-2,6981,2862,3411,422-1,7885,630-5,3651,893-674-1,925
Free Cash Flow 16,42617,14423,27023,26326,46129,28135,66336,98538,90241,68844,99448,013
CFO/OP 110%87%103%100%98%91%103%97%93%88%96%92%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow25.00-334.00-215.00-257.00-215.00-23.0034.0039.0046.0052.0056.0058.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 817981707468716780818184
Inventory Days
Days Payable
Cash Conversion Cycle 817981707468716780818184
Working Capital Days 523362626170645933303434
ROCE %56%50%51%44%39%47%47%49%54%59%64%65%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 72.30%72.30%72.30%72.41%71.77%71.77%71.77%71.77%71.77%71.77%71.77%71.77%
FIIs 12.72%12.46%12.47%12.46%12.70%12.35%12.66%12.68%12.04%11.48%10.33%10.37%
DIIs 9.58%9.80%10.01%10.03%10.61%11.00%10.86%10.86%11.49%11.95%12.64%12.81%
Government 0.05%0.05%0.05%0.05%0.06%0.06%0.06%0.06%0.06%0.06%0.06%0.06%
Public 5.36%5.38%5.17%5.03%4.86%4.82%4.66%4.63%4.63%4.77%5.21%4.98%
No. of Shareholders 24,99,38425,02,83523,67,00323,36,01622,03,20921,81,39120,93,96220,75,11721,15,09321,64,28923,88,23223,32,275

Shareholding Pattern Chart

No. of Shareholders

Tata Consultancy Services Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
ICICI Prudential Value Fund 8,815,008 4.56 2753.72N/AN/AN/A
Parag Parikh Flexi Cap Fund 8,465,650 1.97 2644.584,654,5892026-02-23 00:50:3681.88%
Nippon India Large Cap Fund 4,700,000 2.93 1468.234,000,0002026-01-26 01:36:4317.5%
Mirae Asset Large Cap Fund 4,612,393 3.57 1440.87N/AN/AN/A
HDFC Balanced Advantage Fund 4,587,972 1.34 1433.24N/AN/AN/A
Tata Digital India Fund 4,514,144 11.75 1410.174,314,1442026-01-26 05:58:294.64%
ICICI Prudential Multi Asset Fund 4,352,098 1.68 1359.554,264,3482026-01-26 05:58:292.06%
SBI Equity Hybrid Fund 4,000,000 1.54 1249.56N/AN/AN/A
Mirae Asset Large & Midcap Fund 3,545,373 2.62 1107.543,270,2982026-01-26 05:58:298.41%
Mirae Asset ELSS Tax Saver Fund 2,783,631 3.33 869.58N/AN/AN/A

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 1.001.001.001.001.00
Basic EPS (Rs.) 134.19125.88115.19103.6286.71
Diluted EPS (Rs.) 134.19125.88115.19103.6286.71
Cash EPS (Rs.) 149.28141.12129.30117.6398.99
Book Value[Excl.RevalReserv]/Share (Rs.) 261.76252.26249.20245.48235.43
Book Value[Incl.RevalReserv]/Share (Rs.) 261.76252.26249.20245.48235.43
Revenue From Operations / Share (Rs.) 705.31665.45616.01523.92443.72
PBDIT / Share (Rs.) 197.15189.83171.33155.94134.27
PBIT / Share (Rs.) 182.67176.06157.61143.36123.28
PBT / Share (Rs.) 180.47171.26155.48141.22118.27
Net Profit / Share (Rs.) 134.80127.35115.58105.0588.01
NP After MI And SOA / Share (Rs.) 134.12126.82115.16104.7287.65
PBDIT Margin (%) 27.9528.5227.8129.7630.26
PBIT Margin (%) 25.8926.4525.5827.3627.78
PBT Margin (%) 25.5825.7325.2426.9526.65
Net Profit Margin (%) 19.1119.1318.7620.0519.83
NP After MI And SOA Margin (%) 19.0119.0518.6919.9819.75
Return on Networth / Equity (%) 51.2450.7346.6142.9937.52
Return on Capital Employeed (%) 62.0163.5157.6352.9147.21
Return On Assets (%) 30.4131.3429.3327.0824.80
Asset Turnover Ratio (%) 1.671.661.581.411.18
Current Ratio (X) 2.322.452.532.562.91
Quick Ratio (X) 2.322.452.532.562.91
Inventory Turnover Ratio (X) 10421.390.000.000.000.00
Dividend Payout Ratio (NP) (%) 92.4054.7598.1034.7433.45
Dividend Payout Ratio (CP) (%) 83.3949.3987.6531.0129.73
Earning Retention Ratio (%) 7.6045.251.9065.2666.55
Cash Earning Retention Ratio (%) 16.6150.6112.3568.9970.27
Interest Coverage Ratio (X) 89.6688.3380.5072.8077.99
Interest Coverage Ratio (Post Tax) (X) 62.3061.4855.3050.0454.03
Enterprise Value (Cr.) 1290362.901393389.101163072.801350886.801167058.00
EV / Net Operating Revenue (X) 5.055.785.167.047.11
EV / EBITDA (X) 18.0820.2818.5523.6723.49
MarketCap / Net Operating Revenue (X) 5.115.845.207.147.16
Retention Ratios (%) 7.5945.241.8965.2566.54
Price / BV (X) 13.7715.5412.9815.3513.60
Price / Net Operating Revenue (X) 5.115.845.207.147.16
EarningsYield 0.030.030.030.020.02

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Tata Consultancy Services Ltd. is a Public Limited Listed company incorporated on 19/01/1995 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L22210MH1995PLC084781 and registration number is 084781. Currently Company is involved in the business activities of Computer programming activities. Company's Total Operating Revenue is Rs. 220938.00 Cr. and Equity Capital is Rs. 362.00 Cr. for the Year ended 31/03/2026.
INDUSTRYADDRESSCONTACT
IT Consulting & Software9th Floor, Nirmal Building, Mumbai Maharashtra 400021Contact not found
Management
NamePosition Held
Mr. N ChandrasekaranChairman
Mr. K KrithivasanManaging Director & CEO
Ms. Aarthi SubramanianNon Ind.& Exe.Director
Dr. Pradeep Kumar KhoslaInd. Non-Executive Director
Ms. Hanne SorensenInd. Non-Executive Director
Mr. Keki M MistryInd. Non-Executive Director
Mr. Al-Noor RamjiInd. Non-Executive Director
Mr. Sanjay V BhandarkarInd. Non-Executive Director

FAQ

What is the intrinsic value of Tata Consultancy Services Ltd and is it undervalued?

As of 23 April 2026, Tata Consultancy Services Ltd's intrinsic value is ₹1482.79, which is 38.42% lower than the current market price of ₹2,408.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (52.4 %), book value (₹294), dividend yield (2.49 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Tata Consultancy Services Ltd?

Tata Consultancy Services Ltd is trading at ₹2,408.00 as of 23 April 2026, with a FY2026-2027 high of ₹3,630 and low of ₹2,346. The stock is currently near its 52-week low. Market cap stands at ₹8,71,308 Cr..

How does Tata Consultancy Services Ltd's P/E ratio compare to its industry?

Tata Consultancy Services Ltd has a P/E ratio of 17.0, which is below the industry average of 43.95. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Tata Consultancy Services Ltd financially healthy?

Key indicators for Tata Consultancy Services Ltd: ROCE of 64.6 % indicates efficient capital utilization; ROE of 52.4 % shows strong shareholder returns. Dividend yield is 2.49 %.

Is Tata Consultancy Services Ltd profitable and how is the profit trend?

Tata Consultancy Services Ltd reported a net profit of ₹48,797 Cr in Mar 2025 on revenue of ₹255,324 Cr. Compared to ₹38,449 Cr in Mar 2022, the net profit shows an improving trend.

Does Tata Consultancy Services Ltd pay dividends?

Tata Consultancy Services Ltd has a dividend yield of 2.49 % at the current price of ₹2,408.00. This is a relatively attractive yield for income-seeking investors.

Last Updated: April 2, 2026, 2:54 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 532540 | NSE: TCS
Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Tata Consultancy Services Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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