Here's a TCS stat that did not happen even during the Covid-19 year

Tata Consultancy Services Ltd. (TCS) reported its fourth quarter results on Thursday, March 9, after market closing hours. The numbers were in-line with expectations.

Rupee revenue growth during the quarter was the highest in 30 quarters, while the constant currency revenue growth, at 1.2%, was higher than the CNBC-TV18 poll projection of 1%.

However, TCS did report a stat that it had never reported before in its history as a trading company.

For the first time in its history, TCS reported a decline in its US Dollar revenue growth for the full financial year. Revenue in US Dollar terms declined 0.5% in financial year 2026, compared to a 3.8% growth in financial year 2025 and 4.1% in financial year 2024.

The closest that TCS had come to a drop in US Dollar revenue was during the Covid-19 year of financial year 2021. Even then, the US Dollar revenue for TCS had grown by 0.6%. Growth in four out of the last five financial years before FY26 has been in single digits for TCS.

Financial Year	TCS Dollar Revenue Growth (%)
FY12	24.2
FY13	13.7
FY14	16.2
FY15	15
FY16	7
FY17	6.2
FY18	8.6
FY19	9.6
FY20	5.3
FY21	0.6
FY22	15.9
FY23	8.6
FY24	4.1
FY25	3.8
FY26	-0.6

In constant currency terms, the revenue declined 2.5% for TCS for the full financial year.

"TCS trades at 15–16 times on earnings, which is, I think, the lowest it has ever traded. Because of the AI disruption the market was expecting the worst. So maybe from a positioning point of view, you might see a bit of a tactical bounce. From a fundamental point of view, would you still want to add it? I would want to hear the management and the commentary first," Gurmeet Chadha of Complete Circle Consultants told CNBC-TV18.

Shares of TCS ended higher at ₹2,590 on Thursday, ahead of the results announcement.