TCS Denies Losing $1 Billion Marks and Spencer Contract Over April Cyberattack; Calls UK Media Report 'Misleading'

October 27, 2025: Tata Consultancy Services has dismissed claims made by a UK media report that the retail company Marks and Spencer has ended a $1 billion contract with the company due to cyber-attack-related failures stemming from incidents in April 2025. The company has refuted most of the claims in the report published by the Telegraph, UK, which found TCS partly responsible for the 300 million pounds in cyberattack-related losses incurred by M&S in April 2025.

TCS clarified that the service desk contract cited in the Telegraph report was awarded through a regular competitive tender launched in January 2025, months before the actual cyber incident. The company also stated that the two incidents are not related to each other.

No Cybersecurity Services to Marks and Spencer

TCS further clarified that the service desk agreement is a small part of its broader, ongoing partnership with the retailer. Even though the service desk contract has ended, the company continues to work for M&S as a strategic partner. Further, TCS was never responsible for the company’s cybersecurity solutions, as the service was provided by another partner (not part of the TCS group).

Clarification on Cyberattack Incident

TCS said it conducted a full scan of its networks and systems and confirmed that no vulnerabilities originated from its end. Moreover, since no cybersecurity solutions were offered from TCS to Marks and Spencer, linking the end of the service desk contract with the April cyberattack seems to be a misstatement from the Telegraph.

Stock Price Movement

On Monday, the TCS share price opened in the green, and at 10:45 AM, the stock traded at ₹3088.20 (0.81% above Friday’s closing price). Further, TCS provided the updates and clarifications through a regulatory filing with the stock exchanges on Sunday evening. The stock has risen by 5.91% in the past month. The company’s P/E ratio is 22.30 compared to the sectoral average of 25.44.

REF: https://nsearchives.nseindia.com/corporate/TCS_CORPCS_26102025232441_Reg_30_Signed_letter.pdf

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