TCS skips post-earnings presser to mark Ratan Tata's death anniversary
What's the story
Tata Consultancy Services (TCS), India's top IT services firm, has cancelled its post-earnings press conference for the second quarter (Q2) results. The event was scheduled for October 9, but it coincides with the death anniversary of Ratan Tata. While the press conference has been called off, an analyst call will still take place on the same day. Tata died on October 9, 2024 at the age of 86 due to age-related health issues.
Board meeting
Changes in TCS's media address schedule
On September 22, TCS had announced a Board of Directors meeting on October 9. The board will consider and approve the audited standalone financial results for the quarter and six-month period ending September 30, 2025. In a separate filing on September 23, TCS had said its leadership team would address media at 5:30pm on October 9 with an earnings conference call to follow at 7:00pm. However, the media address was cancelled due to the observance of the Tata's death anniversary.
Market outlook
What to expect from TCS's Q2 results
Analysts expect moderate revenue growth for TCS in Q2, with some accounts ramping down and share losses. Axis Securities expects a 3.5% quarter-on-quarter topline growth, driven by BFSI, Hi-Tech, and cross-currency tailwinds. However, they also forecast a 21-basis-point drop in EBIT margin due to wage hikes, higher investments, and lower utilization. Investor focus is also on TCS's planned separation of around 12,000 employees as part of restructuring efforts aimed at sharpening its focus on artificial intelligence (AI).