TCS declares INR 12 dividend: Goldman Sachs keeps Buy rating on TCS stock

Published on 10/15/2026 at 10:45 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Q2 revenue reached USD 7.64 billion on October 8, 2026, up 2.4 percent year over year. A 24.00 percent margin leaves TCS stock below 25.20 percent.

Dividend and AI growth context

Tata Consultancy Services declared an INR 12 dividend on October 8, 2026.
Annualized AI revenue reached USD 3.10 billion in the second quarter of fiscal year 2027.
TCS stock traded at INR 2,360.20 on the NSE on October 15, 2026, at 2:14 p.m. IST.

TCS, INE467B01029, Illustration mit AI erstellt.

Tata Consultancy Services declared an INR 12 interim dividend for fiscal year 2027 on October 8, 2026, while Goldman Sachs kept its Buy rating on TCS stock. The company reported second-quarter revenue of USD 7.642 billion and net income of USD 1.450 billion in the quarter ended September 30, 2026, according to TCS. Goldman Sachs maintained its Buy rating and set a target of INR 2,210, according to CNBC TV18 on October 9, 2026.

AI revenue reaches USD 3.10 billion

The result showed a clear shift in TCS's growth mix. Annualized AI revenue reached USD 3.10 billion in the second quarter of fiscal year 2027, up from USD 2.60 billion in the first quarter and crossing 10 percent of total revenue, the company said in its October 8, 2026 release.

Total contract value reached USD 9.60 billion in the second quarter, compared with USD 10.00 billion a year earlier. Net cash from operations was USD 1.48 billion, equal to 102.2 percent of net income, giving the result a strong cash conversion profile.

What does the margin say about growth?

Operating margin was 24.00 percent in the second quarter, below 25.20 percent a year earlier and unchanged from the first quarter. Constant-currency revenue increased 0.5 percent sequentially, compared with 0.4 percent in the first quarter, according to Business Standard on October 8, 2026.

The figures leave investors with two competing signals: AI monetization is expanding, but margin recovery has yet to match the company's 26.00 to 28.00 percent aspiration. Goldman Sachs said revenue growth met expectations while operating margins disappointed, according to CNBC TV18's October 9, 2026 report.

Dividend payment follows October 30

The INR 12 dividend has an October 14, 2026 record date and an October 30, 2026 payment date. TCS also reported a workforce of 598,056 employees and quarterly attrition of 13.3 percent as of September 30, 2026.

NSE price and valuation context

TCS was last quoted at INR 2,360.20 on the NSE on October 15, 2026, at 2:14 p.m. IST. The same market snapshot showed a market capitalization of INR 8.5 trillion and a 52-week range of INR 1,976.80 to INR 3,350.00.

The next dated cash event is the October 30, 2026 dividend payment.