Whalesbook
TCS Q4 Ka Performance Bada Solid Raha!
Dekho, TCS ne FY26 ke Q4 mein kamaal kar diya. Reported currency mein revenue 1.5% badha aur Constant Currency (CC) mein 1.2% quarter-on-quarter growth dikhaya. U.S., UK, Europe aur India jaise regions mein achhi growth hui. BFSI aur media sectors mein thodi si dheemee aayi, par Energy, Resources & Utility sector ne achha perform kiya. Operating margin bhi mazboot raha, 10 basis points badh gaya.
Full fiscal year 2026 ki baat karein toh, reported revenue 0.5% gira aur CC mein 2.4%. Iska ek reason BSNL contract ka khatam hona bhi tha, jisse India revenue par asar pada, haalanki international revenue 2.4% badha.
Bade Deals Ne Order Bookings Mein Lagayi Aag!
Sabse badi khabar yeh hai ki Q4 mein teen bade deals ne order bookings ko ekdum se badha diya. Ye deals Marks & Spencer, ek UK telecom firm aur ek US pharmacy retailer ke saath hue hain. Saath hi, saal bhar mein jeete gaye paanch aur bade deals ko mila dein toh FY27 revenue ke liye ek zabardast visibility mil gayi hai.
Company ka client base bhi badh raha hai, alag-alag spending levels par naye clients aa rahe hain, jo future mein achhi engagement ka signal de raha hai.
AI Mein Zabardast Investment Chal Raha Hai!
TCS ek 'AI-first' strategy par chal raha hai aur apni capabilities mein heavy investment kar raha hai. Annual AI revenue ab $2.3 billion tak pahunch gaya hai, jo total revenue ka 7.6% hai. Company ne HyperVault naam se AI data center subsidiary bhi launch ki hai. Aur haan, apne 270,000 employees mein se 46% ko AI aur machine learning skills mein train bhi kar chuke hain.
Kharcha Badhne Ke Baawajud Margins Stable!
FY25 ke liye company ne 25% operating margin report kiya hai, jo YoY basis par 70 basis points zyada hai. Ye sab AI mein zabardast investment ke bawajood hua hai. Isme favourable currency movements (190 bps) aur workforce structure optimization (80 bps) ka bhi bada haath hai, haalanki talent aur partnerships mein hue kharch ne ise thoda kam kiya.
Par dhyan rahe, April 2026 se hone wali wage revision se Q1 margins mein estimated 150–200 basis points ki kami aa sakti hai, jise company ne apne guidance mein include kar liya hai.
Valuation Achha Aur Outlook Stable!
Ab TCS ka valuation kaafi attractive lag raha hai, khaas kar jab se Nifty aur IT index ke muqable iska performance thoda dheela pada tha. Stock price mein jo correction aaya hai, usme shayad tech changes wale challenges pehle se hi reflect ho gaye hain. Upar se, 4% se zyada ka dividend yield mil raha hai, toh stock ke aur girne ki sambhavna kam lagti hai.
Agar aapko tej growth chahiye toh shayad abhi TCS aapki list mein na ho, par iska outlook stable hai. Risks ki baat karein toh, agar economic slowdown ke karan global IT spending mein badi kami aati hai ya phir AI advancements se koi bada disruption hota hai, toh savdhan rehna hoga.