Dear Shareholders,
Over the years your company has put exceptional focus on client-centricity. We have earned the trust of over 670 global clients who worked with us for more than ten years, including over 250 clients with relationships spanning over twenty years.
In FY 2026, global enterprises continued to navigate an increasingly complex macro-economic and geo-political environment. The rapid evolution of AI and the need to accelerate its enterprise Dear Shareholders, adoption, further influenced leadership decision making. In this context, the role of trusted system integrators became even more vital, with clients increasingly choosing partners who bring strong enterprise and industry context and are willing to take end-to-end accountability for business outcomes and ROI.
I am pleased to share with you that our clients further deepened their partnership with TCS to help them achieve their business outcomes. Global clients partnered with us to improve business resilience, optimize costs, transform operating models for agility, reduce technology debt through modernization and scale AI across the enterprise.
Our unique advantage combines a deep understanding of enterprise context, a proven track record in industry-leading execution, the ability to reskill our workforce rapidly and at scale, strong ecosystem partnerships, and leadership in AI-driven services.
This translated into broad-based client additions across revenue bands, strong order book, and continued momentum in large deals. Clients showed greater willingness to commit to long-term, multiyear, multi-million-dollar partnerships— reflecting the trust they place in TCS to deliver certainty and value at scale over extended transformation journeys. 130 of our top 139 clients generating over US$ 50 million in annual revenues, have chosen your company as the AI services partner.
We delivered complex, large-scale programs across geographies, including nation-scale outcomes in India. We scaled the Government e-Marketplace (GeM) into the world’s largest government e-commerce marketplace, with procurement exceeding ₹ 5 lakh crore. For instance, we upgraded State Bank of India’s YONO 2.0 to serve 20 crore users in 10 languages. We also modernised citizen services such as ePassports (over 1 crore issued) and built the RBI’s new data management system, designed to handle 250 TB for sharper economic analysis.
Our execution has been recognised globally. Newsweek ranked TCS #1 among Technology Services enterprises in America’s Most Reliable Companies, and Fortune listed us among the World’s Most Admired Companies in 2026.
FY 2026 marked an inflection point for enterprise AI. For the first time since GenAI emerged in 2023, customers moved decisively from pilots to scaled deployments. AI became central to every conversation and every solution, accelerating adoption across industries.
This year has been pivotal for TCS. To realise the opportunities offered by AI, we set out a bold aspiration to become the world’s largest AI-led technology services company. Our strategy to realize this aspiration, is to be a full-stack AI services player from Infrastructure to Intelligence. We have identified five transformation pillars that will underpin this strategy. I am pleased to share that we made strong progress across all five pillars:
Looking ahead, as customers scale AI, they are looking for partners who can build and manage a unified control plane across the full AI stack – Infrastructure to Intelligence. This control plane - an AI Operating System - makes AI repeatable and governable through orchestration in an enterprise’s context and embeds trust mechanisms such as security, monitoring, evaluation, and auditability. Many enterprises have tools and models, but not the standardised control and context needed to run agentic systems safely in day-to-day operations today.
This is where TCS is positioning itself as an Enterprise Intelligence Integrator, modernising software stacks, embedding AI agents into operations, and governing data and security at scale to deliver measurable outcomes.
As outlined by our Chairman, we will focus on four distinct progressions: Build industry-specific AI systems, construct India’s first high-density AI data centre, strengthen our Infrastructure to Intelligence offering with 3600 partnerships and establish secure, resilient, sovereign AI infrastructure.
I thank our customers for their trust, our associates for their dedication and delivery excellence, and you—our shareholders—for your unwavering support. With our execution strength, deep context, and a clear AI-led strategy, we are well positioned to navigate uncertainty and compound value. We will stay focused on resilient growth, strong governance, and consistent returns.
Best regards,
K Krithivasan, Chief Executive Officer and Managing Director