Tata Consultancy Services Limited — Investor Meet, 15-07-2026: Analysts/Institutional Investor Meet/Con. Call Updates

**Financial Performance:** Revenue reached ₹72,275 Cr, growing 0.4% QoQ in constant currency. Operating margin stood at 24%, a 130 bps sequential decline mainly due to wage hikes. Net margin was 19.2%. Cash conversion remained strong at 93%.

**Order Book & Strategic Outlook:** TCS secured a robust TCV of $9.5 billion, including a major US$800 million AI-led business transformation deal with SKF. Annualized AI services revenue accelerated to $2.6 billion, up 13.6% QoQ. Management expressed confidence, expecting demand to improve in Q2, driven by a strong pipeline and client focus on AI, modernization, and cybersecurity. The company is committed to leading the AI transformation cycle through strategic investments.