Tata Elxsi Ltd Share Price – NSE  /  BSE

IT - Software, Small Cap

Tata Elxsi announced the inauguration of a state-of-the-art Experience Centre for Tata Chemicals on 01 August 2023 in Mambattu, Tamil Nadu. The centre has been conceptualized and designed by Tata Elxsi.

The facility fosters stronger ties between Tata Chemicals and its partners, clients, investors, and employees by facilitating strategic conversations, nurturing long-term relationships, and presenting innovative solutions that align with evolving business needs.

The Experience Centre will showcase interactive demonstrations and presentations, featuring a walkthrough showcasing Tata Chemicals' achievements, product portfolio and services. To design this exclusive Experience Centre, Tata Elxsi collaborated with internal stakeholders to get a deep understanding of Tata Chemicals' core strengths and vision and created this unique experience.

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Profit before tax for the period under review stood at Rs 248.3 crore, registering a growth of 8.9% YoY.

Tata Elxsi said that the Industrial Design & Visualization division recorded a strong growth of 41.1% YoY in constant currency terms. The company's design-digital offerings continue to drive volume led growth in a challenging global market environment.

Transportation continues to show healthy growth, registering a revenue growth of 17.0% YoY in constant currency terms, and a healthy large deal pipeline across SDV and EV.

Healthcare signalled a strong recovery, registering 3.2% QoQ growth in Q1 of FY24 in constant currency.

Manoj Raghavan, CEO and Managing Director, Tata Elxsi, said: “We are happy to report a healthy growth of 17.1% YoY in the current macro-economic environment, while delivering industry leading EBITDA margin of 29.6%. While the overall global economic outlook remains challenging, our customer focus and targeted efforts to keep the growth momentum going is showing good results.

On the people front, we continue to invest in our talent base. With a net add of 422 Elxsians in this quarter, the Tata Elxsi family is now 12,000+ strong, with attrition dropping further to 15.6%.

We have driven strong operational excellence across the organization and protected our EBITDA margins, despite wage hikes and strong employee additions in the quarter. Our Effective Tax Rate (ETR) in this quarter has increased on account of lower tax exemption due to completion of 5 years for two of our SEZ units, impacting our PAT margins.”

Tata Elxsi is amongst the world's leading providers of design and technology services across industries including automotive, broadcast, communications, healthcare and transportation.

The scrip fell 2.21% to currently trade at Rs 7540.45 on the BSE.

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Net profit of Tata Elxsi rose 2.24% to Rs 188.85 crore in the quarter ended June 2023 as against Rs 184.72 crore during the previous quarter ended June 2022. Sales rose 17.13% to Rs 850.27 crore in the quarter ended June 2023 as against Rs 725.89 crore during the previous quarter ended June 2022.

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Tata Elxsi will hold a meeting of the Board of Directors of the Company on 17 July 2023.

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