TATA
Tata Consultancy Services
Is TATA Halal?
Tata Consultancy Services' current filing produces mixed methodology results; its IT core is generally permissible while customer-sector and finance-income questions remain qualitative.
What You Should Know
TATA is the preserved legacy alias for Tata Consultancy Services. TCS's March 31, 2026 consolidated statements report INR 182,372 crore of assets, INR 11,283 crore of conservative lease debt, INR 6,417 crore of cash, INR 33,988 crore of investments, INR 67,919 crore of receivables and INR 267,021 crore of revenue. Debt/assets is 6.19%, liquidity/assets is 22.16% and receivables-plus-cash/assets is 40.76%; the examined MSCI-style receivables limit fails while FTSE and Malaysia-style known ratios pass. The current exchange symbol is TCS; the TATA URL is preserved.
⚠️ Concerns
- •MSCI-style receivables-plus-cash/assets is 40.76%
- •BFSI, government and defense client work is not allocated into a prohibited-revenue numerator
- •Investments include government and corporate bonds, certificates of deposit and commercial paper
- •TATA is a preserved legacy alias for TCS; the URL is unchanged
Current quantitative Sharia screen
Based on Audited consolidated financial statements figures for the period ended 2026-03-31; calculated 2026-07-15.
11,283 / 182,372
40,405 / 182,372
74,336 / 182,372
- Financial
- Incomplete
- Overall
- Incomplete
Debt/assets is 6.19%, liquidity/assets is 22.16% and receivables-plus-cash/assets is 40.76%; the interest-income input is unavailable and business activity is not fully quantified.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 6.19% and liquidity/assets is 22.16%, but receivables-plus-cash/assets is 40.76%, above the examined MSCI total-assets limit.
- Financial
- Pass
- Overall
- Incomplete
Debt/assets and liquidity/assets are below the examined Malaysia limits; activity and interest-income inputs remain incomplete.
- Financial
- Not calculated
- Overall
- Not calculated
A licensed historical market-cap series is not stored, so market-cap denominator methods are not calculated.
Business-activity disclosure
TCS provides information-technology services, consulting, software and business-process services. The core technology activity is generally permissible, while customer-sector and government/defense end-use questions remain qualitative.
Limitation: The consolidated filing does not provide a universal prohibited-revenue numerator or a standalone consolidated interest-income numerator.
Purification
The consolidated filing does not provide a standalone interest-income numerator, and no scholar-approved purification percentage is calculated.
Inputs, assumptions and primary sources
- Amounts are INR crore from TCS's audited consolidated financial statements for March 31, 2026.
- TATA is the preserved legacy asset alias for Tata Consultancy Services; the current exchange symbol is TCS and this record does not change the existing URL.
- Interest-bearing debt includes current and non-current lease liabilities; current and non-current investments are included as identifiable securities; trade receivables combine billed and unbilled balances.
- The filing does not provide a standalone consolidated interest-income numerator or universal prohibited-revenue numerator.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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