TCS Q1 Results on July 9: AI Strategy, Dividend, Margins — Key things to watch from IT major's earnings

TCS will report Q1 FY27 results on July 9, kicking off the Indian IT earnings season. Brokerages expect muted numbers, with Motilal Oswal forecasting flat QoQ constant currency revenue growth and ICICI Securities estimating revenue at $7,617 million (around Rs 72,267 crore, up 2.2% QoQ and 13.9% YoY), with margins likely to decline on account of wage hikes. Deal pipeline is pegged at $7-10 billion versus $12 billion in Q4 FY26, while investors will focus on management commentary around AI monetisation, TCS' $2.5 billion annualised AI revenue, its OpenAI data centre partnership, and a likely interim dividend with July 15, 2026 as the record date.