Trade deal uncertainty delaying client decisions
CEO noted that until most trade deals are announced, lack of clarity will persist, potentially delaying decision-making further.
TCS / Q1-FY26 / risks
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TCS · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
high
Excess capacity weighing on margins
CFO acknowledged carrying excess capacity due to demand contraction, which may pressure margins until growth resumes.
BFSI Europe weakness and large engagement completion
Decline in BFSI Europe was partly due to completion of a large engagement, with structural delays also contributing.
New BSNL order ramp-up uncertain
Advance purchase order received but circle-wise POs awaited; execution timeline and margin impact unclear.