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TCS – Re-energising the core in a tough time, Motilal Oswal

The analysis of TCS AR23 not only highlights the widespread adoption of digital technologies in customer-facing operations, but also the increasing penetration of AI and automation in middle and back-office operations.

With the growing intensity of adverse macroeconomic environment in the latter half of the year, the clients are reprioritizing their spends and expressing interest in transforming their operating model.

Apart from demand for driving operational efficiency and optimizing costs, Cloud transformation remained a high priority area for enterprises in FY23.

Despite demonstrating strong resilience, TCS anticipates the possibility of a moderate full-year revenue growth in FY24 if similar instances of delayed decision-making and cash conservation from clients reoccur.

For report,


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