ADVERTISEMENT
TCS Q4 Review: Caught In Macroeconomic Flux, Underwhelming Result, Upbeat TCV— ICICI Securities, Maintains Add
ICICI Securities reiterates Add rating on the stock with Mar’26E target price of Rs 3,680 on attractive valuations.
11 Apr 2025, 10:58 AM IST 
TCS reported sequential revenue growth of -1%/ -0.8% USD/ CC, underperforming the brokerage's and consensus estimates of -0.8%/ -0.3% USD/ CC for Q4 FY25.
(Photo Source: Company's official Facebook page)
ICICI Securities believe Q4 earnings might be grimmer for rest of the IT peers given that TCS has lesser % of revenue as discretionary versus peers. Despite management commentary that FY26 revenue growth will be better than FY25, we see low FY26 discretionary demand, weighing down growth.
I’m already a Subscriber
To continue reading this storySubscribe to Unlock & Enjoy your
Subscriber-Only benefits
Subscriber-Only benefits
Choose a plan
Renews automatically. Cancel anytime.
As a Subscriber you get
Access to
Stories
Curated
Newsletters
20,000+
Research Reports
Priority Pass
to Special Events
Ad-Lite
Experience
Subscriber-Only
Rewards
NDTV Profit
Exclusive Stories
Full Access to
NDTV Profit App
Access to
Stories20,000+
Research Reports
Ad-Lite
Experience
NDTV Profit
Exclusive Stories
Curated
Newsletters
Priority Pass
to Special Events
Subscriber-Only
Rewards
Full Access to
NDTV Profit App
Still Not convinced ? Know More
