Tata Consultancy Services has scheduled its Board of Directors meeting for January 12, 2026, to review and approve the company's audited standalone and consolidated financial results for the third quarter of FY 2025-26 ended December 31, 2025. The results announcement will take place after market trading hours, followed by an earnings call with analysts and investors.

Board Meeting and Results Timeline

The IT services giant informed exchanges on December 23, 2025, about the upcoming board meeting agenda. Along with financial results approval, the board will consider routine business matters and review consolidated results of Tata Consultancy Services and its subsidiaries for the same period.

Third Interim Dividend Consideration

The board will deliberate on declaring a third interim dividend for FY26 equity shareholders during the meeting. The company has established January 17, 2026, as the record date to determine shareholder eligibility for the proposed interim dividend payment.

Trading Window Closure

In compliance with insider trading prevention regulations, Tata Consultancy Services has suspended trading in company securities for designated persons from December 24, 2025. The trading window will reopen 48 hours after the financial results declaration, ensuring regulatory compliance during the sensitive period.

Previous Quarter Performance

Tata Consultancy Services demonstrated solid financial performance in Q2 FY26, with consolidated revenue reaching ₹65,799.00 crores compared to ₹64,259.00 crores in the corresponding quarter of the previous fiscal year.

Share Price Performance

TCS shares closed at ₹3,212.60 on the NSE on Friday, registering a 0.27% gain for the session. The stock has experienced mixed performance across different timeframes, declining 2.35% over the last five trading sessions and 0.60% in the past month. However, shares have gained nearly 1.00% over six months and risen over 9.00% in the last year, while showing a year-to-date decline of 1.91%.

Tata Consultancy Services is expected to report modest sequential revenue growth for the December quarter, with analysts projecting a 0.3% increase to $7,486.6 million. This would mark the fifth consecutive quarter where India's largest IT exporter has recorded below 1% sequential top-line growth in dollar terms, reflecting ongoing challenges in the global IT services market.

Revenue Performance and Growth Outlook

The projected revenue figures are based on estimates from ET Intelligence Group and 11 broking firms. Equirus Securities expects the company to report 1% constant currency sequential growth in revenue, noting that the tepid growth is largely attributed to seasonal softness, lower billing days in international markets, and the absence of major ramp-up expectations in the BSNL deal.

Currency Impact and Margin Dynamics

Cross-currency headwinds have significantly impacted the sequential revenue growth trajectory. Anand Rathi Share and Stock Brokers highlighted that the British pound, euro, and rupee depreciated by 1.4%, 0.4%, and 2.1% respectively against the US dollar during the quarter. Despite revenue growth challenges, operating margins are expected to improve by 20-40 basis points from the previous quarter's 25.2%, primarily aided by rupee depreciation against the dollar.

Industry Context and Peer Performance

HCL Technologies, India's third-largest software exporter, is also scheduled to announce its third-quarter results on Monday. The company is expected to report stronger sequential revenue growth of 2.1% to $3,721.8 million, supported by improving momentum in its products and platforms business. HCL Tech's operating margin may see a more substantial improvement of 60-100 basis points from the previous quarter's 17.5%.

Key Focus Areas and Management Commentary

Given the rising geopolitical uncertainty and increasing client focus on artificial intelligence implementation, management commentary on IT budget trends for 2026 and order pipeline will be crucial indicators. According to Kotak Securities, several factors will be critical to monitor:

• Measures to accelerate revenue growth and wallet share shifts in developed markets
• Progress on planned data center investments
• Path of margin recovery to the 18-19% band for the industry
• Drivers behind the products business segment

The results announcement will provide insights into how India's leading IT services companies are navigating the current environment of cautious client spending while positioning themselves for the artificial intelligence-driven transformation in the technology sector.