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Tata Elxsi Results: Latest Quarterly Results & Analysis

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Tata Elxsi Ltd. 09 Oct 2025 18:10 PM
Result PDF

Q2FY26 Quarterly Result Announced for Tata Elxsi Ltd.

IT Consulting & Software company Tata Elxsi announced Q2FY26 results
  • Revenues from operations at Rs 918.1 crore, up 2.9% QoQ.
  • EBITDA at Rs 193.3 crore, EBITDA Margin at 21.1%.
  • Profit Before Tax (PBT) at Rs 214.7 crore, up 9.4% QoQ.
  • Profit After Tax (PAT) at Rs 154.8 crore, up 7.2% QoQ.
  • Revenue from US grows 7.9% QoQ.

Manoj Raghavan, CEO & Managing Director, Tata Elxsi, said: “For the second quarter of FY26, Tata Elxsi reported an operating revenue of 918.1 crore, with a healthy growth of 2.9% over the previous quarter. The Profit Before Tax at Rs 214.7 crore reported a 110-basis point improvement over last quarter, while PAT expanded by 50 bps to 16%.

Amidst dynamic market conditions and geopolitical uncertainties, we delivered strong QoQ growth across overseas markets led by US which grew at 7.9% QoQ. We continue to win new customers in our core verticals and adjacent markets in the US region, which is expected to add to the growth momentum of the company, backed by differentiated technology capabilities and offshore execution excellence.

Our Media & Communication business, which accounts for more than 31% of our revenue, posted a smart QoQ growth of 6.8%, supported by large deal ramp-ups and new deal wins across regions.

The transportation business, which accounts for over 53% of our revenue, registered a 0.7% QoQ growth in the second quarter, building on the momentum of large deal wins and global OEM SDV programs. I am happy to announce that during the second quarter, Tata Elxsi set up an exclusive Cloud HIL centre for Suzuki Motors in Thiruvananthapuram. This is the second engineering centre under the Tata Elxsi-Suzuki partnership, following the Offshore Development Centre in Pune which was set up last year.

During the second quarter, Tata Elxsi inaugurated a Global Technology Centre for Medical Devices for Bayer. This radiology focussed centre harnesses Tata Elxsi’s deep expertise in healthcare engineering, providing access to its highly specialized technology talent. We are building a strong pipeline of new customers and large deals across key regions in the Healthcare and Lifesciences business, creating a strong foundation for sustained growth in the coming quarters.

Our System Integration business, which provides Experiential Technology Solutions and Intelligent Managed Services across various verticals, recorded a smart growth of 20.5% over the previous quarter. The Managed Services business was awarded the global award for best ISG (Infrastructure Solutions Group) supplier of the year from Dell Technologies. This underscores the differentiated capabilities we are building and delivering for enterprises, even as they pivot to AI data centres, edge computing, and hybrid workloads for their AI powered enterprise applications and workloads.

We have delivered strong operational excellence and resilient growth across customers, regions and industry verticals in a challenging quarter, and have created a strong foundation for sustainable growth. We look forward to carrying this momentum into the second half of the current financial year, even as we continue to invest in differentiated AI-first offerings and services, building an AI-ready talent pipeline, and strong operational excellence for bottom line growth and margin improvement.”

Result PDF

Result PDF
IT Consulting & Software company Tata Elxsi announced Q1FY26 results
  • Revenues from operations at Rs 892.1 crore.
  • EBITDA at Rs 186.7 crore, EBITDA Margin at 20.9%.
  • Profit Before Tax (PBT) at Rs 196.3 crore, PBT Margin at 21.1%.
  • Profit After Tax (PAT) at Rs 144.4 crore, PAT Margin at 15.5%.

Manoj Raghavan, CEO & Managing Director, Tata Elxsi, said: “For the first quarter of FY26, Tata Elxsi reported an operating revenue of Rs 892.1 crore. EBITDA margins stood at 20.9% and PBT margin was reported at 21.1%.

This quarter was challenging across key markets, with macroeconomic uncertainties, industry and customer specific issues impacting R&D spend and decision making cycles across geographies. The company has demonstrated resiliency in protecting business in our largest vertical, executing on large deal wins across key verticals to create sustained revenue streams, and expanding our relationships with our customers.

Our transportation business that represents over 50% of our overall revenues, recovered smartly to report a 3.7% growth QoQ in actual currency, and flat in constant currency terms. We are starting to realise the positive impact of large deals won last quarter including SDV related deals with Mercedes-Benz and a European OEM, and Suzuki a quarter prior. We are executing on our adjacency strategy, with two strategic deal wins in the quarter. We see continued recovery and growth of our transportation business through the rest of the year, backed by the deals we have won, a healthy pipeline of large deals and new customer logos.

Our Media and Communication Business (MCV) reported a decline of 5.5% QoQ in constant currency. While the overall business environment in this industry continues to be subdued, the drop is largely due to transition investments for the large deals we won last quarter. We expect to bring back growth in Q2 and beyond, on the back of these large deal ramp-ups and a healthy deal pipeline. In this quarter, we also won a strategic multi-million-dollar design-digital deal with a US tech leader for next generation AI and product-feature development.

In the Healthcare and Lifesciences Segment (HLS), our next-gen product development and digital offerings delivered two key wins including a global pharma and biotech leader from Europe, and a Medtech leader from Japan. HLS declined 6.7% QoQ in constant currency, primarily affected by tariff related impact on medical device engineering programs and spend with two key customers in the US. We expect recovery in this region in the second half of FY26.

Our Design and Systems Integration teams successfully delivered a prestigious experiential project in Japan. We are proud of our association and the part we played in the Bharat Pavilion at the World Expo 2025 in Osaka, which was ranked among the Top 5 pavilions alongside US, Italy, Japan, and France.

We expect steady improvement in bottom-line and margin through the year even as our two largest businesses, transportation and media & communication, return to growth in Q2FY26 and beyond, and utilization improves on the back of ready capacity and capability we have invested in over the past few quarters.

Our re-imagined website launched at the start of this quarter, reflects the AI first and human-centric approach to going beyond technology and product to designing experiences that simplify complexity, enhance human lives, and drive sustainable progress – what we call as designing purpose driven experience.”

Result PDF

IT Consulting & Software company Tata Elxsi announced Q4FY25 results
  • Revenues from operations at Rs 908.3 crore.
  • EBITDA at 207.7 crore, EBITDA Margin at 22.9%.
  • Profit Before Tax (PBT) at Rs 221.4 crore, PBT Margin at 23.3%.
  • Profit After Tax (PAT) at Rs 172.4 crore, PAT Margin at 18.1%.

Manoj Raghavan, CEO and Managing Director, Tata Elxsi, said: “For the fourth quarter of FY25, Tata Elxsi reported operating revenue of Rs 908.3 crore and PBT margin at 23.3%. We ended FY25 with a revenue of Rs 3,729 crore and PBT margin of 26.3%.

We reported a healthy QoQ growth of 3.5% in constant currency terms in the quarter for our Healthcare & Life Sciences segment. This vertical continues to add marquee logos and pivot strongly to scaling services for digital, product engineering and innovation.

Our automotive business witnessed challenges in the quarter as some OEMs and suppliers paused new program starts in the face of geopolitical, business and market uncertainties. We also saw delays in rampups planned for ongoing deals won in the previous quarters, that we expect to resume starting Q1FY26. I am delighted to report a 50 million Euro multi-year SDV and software engineering deal with a European Automotive leader, that will ramp up starting April 2025.

Our media and communications business saw some customer specific issues in the quarter due to mergers and business restructuring, while the overall industry continues to exercise caution in R&D spend and innovation. I am pleased to report a strategic multi-year product engineering consolidation deal of over 100 million USD with a marquee operator in media and communications, the largest single deal in our company’s history. We also won a strategic 10 million USD consolidation deal with a global broadcaster for their streaming video platform engineering.

Our Systems Integration and Support (SIS) Business is pivoting to value-added services and innovation-led projects such as experience centres, and delivered a prestigious experiential project in Japan this quarter.

I am delighted with the international recognition for our design digital proposition with the two iF award wins for 2025. We won the UX award for GameSense – our experiential solution that brings together UX design, AI and digital technologies to deliver enhanced fan engagement and monetisation for global sports and live events. We also won an iF award for product design, with our next generation racing simulator gear design for Turtle Beach, the leader in gaming technologies.

We are transforming our customer base across industries, with a continued shift towards OEMs in the automotive industry, and operators in the media and telecom industry, while we continue to deepen our key customer relationships.

We are winning large deals against the best in the world in both the automotive and media & communications verticals, which underscores the differentiated value proposition, offshore delivery excellence and deep domain capabilities that Tata Elxsi offers to our customers.

We have established a strong foundation for continued growth in our Healthcare and Lifesciences business, with the addition of 13 new marquee customers in the year, and expanded capabilities and platforms in new growth areas such as sustainability and AI-powered diagnostics and therapies.

We are expanding our vertical presence with the addition of aerospace and defence, addressing emerging opportunities for space, unmanned aerial vehicles, software defined systems and indigenisation in this sector.

We continue to invest strongly in digital, AI and Gen AI technologies across our verticals, targeting efficiency and quality in product engineering, and novel applications of Gen AI combined with domain and design expertise to solve complex business, product and engineering problems. Over 70% of our talent base is now AI ready, and we have built a pool of over 500 specialists across domains and application areas.

Tata Elxsi is very well positioned to capture the increasing global demand for software and product engineering, backed by award-winning design digital capabilities, operational and delivery excellence, scaled India presence, and a deep talent pool that is future-ready.

We enter the new financial year with the foundation for stability and long-term growth laid by the large deal wins, the continued confidence of our customers across the world, a strong deal pipeline and our differentiated design-led proposition for innovation and product engineering.”

Result PDF

IT Consulting & Software company Tata Elxsi announced Q3FY25 results
  • Revenues from operations at Rs 939.2 crore.
  • Operating EBITDA at 246.6 crore, EBITDA Margin at 26.3%.
  • Profit Before Tax (PBT) at Rs 255.8 crore, PBT Margin at 26.1%.
  • Profit After Tax (PAT) at Rs 199.0 crore, PAT Margin at 20.3%.

Manoj Raghavan, CEO and Managing Director, Tata Elxsi, said: “We are happy to report a steady quarter with revenue from operations at Rs 939.2 crore. During the quarter, EBITDA margins stood at 26.3% and the PBT margin was reported at 26.1%.

We continue to see positive outcomes of our strategic business focus on Japan, emerging markets and capitalising on the India opportunity. During the quarter, our revenue from India has grown by 21.9% YoY, while Japan and emerging markets grew at 66.8% YoY. This will serve us well over the next few quarters even as we navigate geopolitical uncertainty, currency volatility and industry specific challenges in Europe and US.

The automotive industry has seen significant business challenges in the past few months, with OEMs especially in the US and Europe reporting sales and growth challenges in their major markets. This has impacted new deal closures, and Tier 1 supplier spend.

Amidst this business environment, Tata Elxsi continues to do well to win and execute on the large deals won over this year and demonstrate differentiated value to customers, to protect and grow revenues in a difficult quarter for the entire automotive industry.

During the quarter, we announced an Offshore Development Centre for Suzuki Corporation, Japan to support their global technology, software and engineering development. Suzuki’s Chief Technology Officer, Katsuhiro Kato highlighted the importance of the centre as a strategic and core component of Suzuki’s innovation strategy, helping it accelerate software and virtual development across Connected, Autonomous and Electric technologies.

We are delighted to be launching our AVENIR SDV software suite at the CES 2025 Conference in Las Vegas, the premier global showcase for technology innovation. AVENIR encompasses a cloud-native virtual development platform and a hybrid global validation platform, and is powered by the Snapdragon Digital Chassis platform, in partnership with Qualcomm. We offer a compelling proposition of a ready-to-adopt solution, coupled with deep digital and software expertise and scaled talent base, to help global OEMs shift-left and accelerate their SDV and future mobility roadmaps.

Our Media & Communication business reported QoQ CC growth in a quarter that is typically soft and affected by furloughs. We are positioned well to help customers in the media, entertainment and telecom industry on all three levers of growth, efficiency, and innovation.

We won a large multi-year deal with a US headquartered MSO to develop and manage their portfolio of applications and expect to ramp this up over the next few quarters. We are positioned well in some very large deals across the world, with decisions and outcomes expected in the coming quarter and beyond.

Our Healthcare & Lifesciences business reported growth of 1.1% QoQ. We continue to win new marquee healthcare customers, and our Gen AI powered regulatory, digital engineering and sustainability offerings are seeing significant traction in the market.

Our Systems Integration (SIS) business witnessed decision delays in some large projects that had a significant impact on revenues in the quarter. While we are aiming to win and execute them over this quarter and beyond, we continue to work on pivoting the business away from project-based to annuity and service based revenue streams.

We step into the fourth quarter of this financial year with the confidence of large automotive deal wins in the year and quarter that will see continued ramp-ups even as we navigate the current volatility in the automotive market; the stability and return to growth in our healthcare and media & communications verticals, and large strategic deals in the pipeline across all our key verticals”.

Result PDF

IT Consulting & Software company Tata Elxsi announced Q2FY25 results

Financial Highlights:

  • Revenues from operations at Rs 955.1 crore, 3.1% QoQ
  • Operating (EBITDA) Margin at 27.9%; 70 bps QoQ
  • Profit Before Tax (PBT) at Rs 298.7 crore, 18.3% QoQ
  • Profit After Tax (PAT) at Rs 229.4 crore, 24.6% QoQ
  • Transportation grew strongly at 8.8% QoQ, aided by large deals and growth in SDV and OEM business

Manoj Raghavan, CEO and Managing Director, Tata Elxsi, commenting on the company’s performance in Q2FY25, said: “We are happy to report a steady quarter with revenue from operations growing to Rs 955.1 crore, registering a QoQ growth of 3.1%.

Our operational and offshore delivery excellence, fiscal discipline, and differentiated offerings, have contributed to our EBITDA margins expanding by 70 basis points to 27.9% for the quarter. Our PAT grew by 24.6% QoQ to 229.4 crore, with the superior bottom-line performance further aided by R&D incentives and tax credits from previous years.

Our strategic focus on expanding our business in Japan, emerging markets and capitalising on the India opportunity, is now starting to significantly contribute to our growth. During the quarter, our revenue from India has grown by 31.2% YoY, while Japan and emerging markets grew smartly at 81.9% YoY.

Our transportation business continues to power growth for the company, registering a strong revenue growth of 8.8% QoQ. Our deep and scaled ADAS, Connected, Electric and Software Defined Vehicle (SDV) capabilities are helping us win large deals with global OEMs across the world, positioning us well for the continued transformation of the automotive industry.

We won a landmark US$ 50 million multi-year deal from a global OEM headquartered in Europe, which encompasses SDV and multiple domains of automotive engineering. This strategic engagement will enable SDV platform development and the next generation of mobility for this world-leading brand.

During the quarter, we also announced a strategic engagement with Nidec Corporation, Japan to support their group technology initiatives, especially for the automotive market. We also launched a global Next-gen Mobility Innovation Center in Bengaluru, in partnership with Emerson.

Our Media & Communication business declined marginally by 1% QoQ, even as we see green shoots for growth, led by our network transformation offerings and digital / Gen AI led innovation for the future of media.

I am especially delighted with our world’s first RDK Broadband implementation for Qualcomm, which allows global telecom operators to adopt this first-of-its kind solution to deliver high-speed home and enterprise broadband services through 5G networks. We also won a strategic AI CoE deal with a leading MEA operator, which will support their company-wide transformation initiatives including re-imagining products, customer experience, operations, customer support and software development.

Our Healthcare & Lifesciences business reported a decline in topline by 10.4% QoQ. This is due to delay in renewal and start of some new programs with our leading US based customer.

We have added some key new customers, including a global renal care leader and a US headquartered healthtech AI leader, which should scale over the next few quarters.

Skanray, a leading global MedTech R&D and Manufacturing company specialising in diagnostic imaging, critical care and surgery/OT solutions, has chosen Tata Elxsi as a strategic partner for advanced surgical imaging core technology and software platform development. This underscores our unique ability to bring together design, cloud and AI to re-imagine healthcare diagnostics and patient care.

We also launched a state-of-the-art robotics innovation lab in Frankfurt, in partnership with Denso Robotics and AATech, designed to revolutionize automation and robotics for various sectorsincluding precision surgery and healthcare.

We are witnessing an unprecedented convergence of design, software and digital technologies such as AI, in how enterprises are re-imagining their products, services and customer experience. Tata Elxsi is uniquely placed with our design-digital capabilities coupled with deep domain and software capabilities, to demonstrate and create value, win new customers and engage deeper with our global customer base.

We step into the third quarter of this financial year with the confidence of our design-digital proposition, a healthy deal pipeline, continued growth in our transportation business, large deal wins and recovery in our other key verticals.”

Result PDF

IT Consulting & Software company Tata Elxsi announced Q1FY25 results:

Financial Highlights:

  • Revenues from operations at Rs 926.5 crore, 2.3% QoQ, 9.0% YoY
  • Operating (EBITDA) Margin at 27.2%; Net Margin (PBT) at 26.3%
  • Profit Before Tax (PBT) at Rs 252.4 crore, 1.6% YoY

Business Highlights:

  • Transportation grew strongly at 5.3% QoQ CC, aided by deal wins and ramp-up of Software Defined Vehicle (SDV) engagements
  • Media and Communications grew 0.5% QoQ CC, performing creditably in a difficult environment for the media and telecom industry
  • System Integration services grew strongly at 8.7% QoQ CC 

Manoj Raghavan, CEO and Managing Director, Tata Elxsi, commenting on the company’s performance in the first quarter of FY25, said: “We are happy to report a healthy performance in the first quarter with a top-line growth of 2.3% QoQ and 9.0% YoY.

We executed very well on operational excellence and fiscal discipline in this quarter towards bottom-line performance, despite the impact of an exceptional one-off expense in the quarter and an increase in the effective tax rate with the change in SEZ benefits for one of our facilities. Our investments in building the talent pool over the past few quarters provides us with strong levers to power topline growth and manage our bottom line. Coupled with our differentiated offerings, offshore delivery and operational excellence, we are confident of returning to our preferred margin band over the year.

Our Transportation business reported a strong growth of 5.3% QoQ and 20.3% YoY in constant currency, and now accounts for more than 50% of our Software Development & Services business. We believe we are well positioned to capture growth opportunities in the coming quarters as we continue to enable the continued transformation of the automotive industry and Software Defined Vehicles.

Our Media & Communication business has done well in a difficult business environment for this industry, growing 0.9% QoQ in actual currency and 0.5% QoQ in constant currency. We are building on our strong customer relationships, even as we roll out innovative growth and efficiency offerings for this industry. I am especially delighted with the NEURON platform-led deal from a leading North American telecom operator for their network transformation.

Our Healthcare & Lifesciences business reported a decline in topline by 4.3% QoQ in constant currency. This is largely due to delay in renewals of some projects at one of our large customers. We continue to add marquee logos and some exciting start-ups to our customer base, laying the foundation for sustained long-term growth along with next-gen service offerings. I am proud of our association and work with Tata Power trust on the India Neurodiversity Platform which is being rolled out across multiple districts across the country. This is powered by TEcare, Tata Elxsi’s Digital Therapeutics solution.

We are investing strongly in digital, AI and Gen AI technologies across our verticals, targeting efficiency and quality in product engineering, as well as novel applications of Gen AI combined with domain and design expertise to solve complex business, product and engineering problems. A great example is from our healthcare business where we have combined our depth of domain and product knowledge with Gen AI, to pioneer an innovative approach to sustainability and material replacement in medical devices and win a strategic deal with a leading manufacturer.

We step into the second quarter of this financial year with the confidence of a healthy deal pipeline, continued growth in our transportation business, new customer wins and expansion of business with strategic customers across verticals.”

Result PDF

IT Consulting & Software company Tata Elxsi announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

  • Revenues from operations amounted to Rs 905.9 crore, showing a decrease of 0.9% QoQ but an increase of 8.1% YoY.
  • Operating revenue growth was -0.6% QoQ and 7.2% YoY on a constant currency basis.
  • EBITDA Margin was at 28.8%, with PBT at 27.9%.
  • Profit Before Tax (PBT) reached Rs 262.4 crore, reflecting a 4.9% YoY increase.

FY24 Financial Highlights:

  • Revenues from operations reached Rs 3,552.1 crore, marking a 13.0% YoY increase.
  • EBITDA Margin stood at 29.5%, with Profit before Tax (PBT) margin at 28.5%.
  • PBT experienced growth of 11.9% to Rs 1,048.7 crore.
  • Software Development and Services (SDS) saw a YoY growth of 9.3% in constant currency.
  • System Integration & Support (SIS) witnessed a YoY growth of 18.6% in constant currency.
  • The Board of Directors have recommended a final dividend of 700% (Rs 70 per equity share of par value of Rs 10 each) for FY24, subject to approval by the shareholders of the company at the Annual General Meeting.

FY24 Industry Highlights:

  • Transportation exhibited strong growth, with a revenue increase of 24.6% YoY, supported by deal wins in Electric, Software Defined Vehicles, and OEMs.
  • Healthcare sustained growth at 10.8% YoY.
  • Media and Communications experienced a modest growth of 0.2% YoY amidst a challenging business environment for the industry.

Manoj Raghavan, CEO and Managing Director, Tata Elxsi, commenting on the company’s performance in the financial year 2023-24, said: “The financial year 2024 has been a year of consistent operational performance with a revenue growth of 13% despite global macroeconomic uncertainties, and volatility in the media and communications industry over the last few quarters. We have done well to maintain an industry-leading EBITDA margin at 29.5% for the year, even while we continued to invest in expanding our talent base through all four quarters, with a net addition of 1,535 Elxsians through the year.

We had laid down a strategy of integrating our design business deeply with our key industry verticals, complementing our software and digital business with a design-led proposition. This is now complete, with a seamless end-to-end proposition from ideation to market introduction. This is enhancing our competitive differentiation, providing early visibility into customer product roadmaps, and croreeating larger downstream development deals. Starting with this quarter, we are reporting this integrated view of design-digital in all three verticals, under the Software and Design Services segment (SDS)."

Result PDF

IT Consulting & Software firm Tata Elxsi announced Q3FY24 results: Financial Performance:
  • Total operating revenue stood at Rs. 914.2 crores, marking a sequential quarterly growth of 3.7% and a year-over-year (YoY) increase of 11.8%.
  • The operating margin reached 29.5%, with a Profit Before Tax (PBT) of Rs. 274.1 crore, reflecting a growth of 14.2% compared to the same period in the previous year.
  • The company's Profit After Tax (PAT) was reported at Rs. 206.4 crores, with a quarter-over-quarter (QoQ) increase of 3.2% and a 6.0% rise YoY.
  • Earnings Per Share (EPS) escalated to Rs. 33.15, witnessing a 3.2% growth since last quarter and a 6.0% growth compared to the same quarter in the previous year.

Segment Performance:

  • In the Transportation sector, the revenue grew by 2.7% QoQ and by 15.6% YoY.
  • The Healthcare segment saw a revenue increase of 4.6% QoQ and 13% YoY.
  • The Media and Communications segment experienced modest growth, with a 0.6% QoQ and a 3.4% YoY rise.
  • Industrial Design and System Integration services witnessed significant growth with 12.3% QoQ and 14.7% QoQ, respectively.

Mr. Manoj Raghavan, CEO and Managing Director, Tata Elxsi, commenting on the company’s performance
in the third quarter of FY24, said: “We are happy to report a healthy performance in the third quarter with a top-line growth of 3.7% QoQ and 11.8% YoY in a challenging and weak quarter for the industry.

Our Healthcare & Lifesciences business executed strongly to report a growth of 4.6% QoQ and 13% YoY. This was backed by large deals in regulatory and new product engineering services.

Our Transportation business witnessed steady growth of 2.7% QoQ in a short quarter. While we had some delays in planned ramp-ups and deal closures due to the short quarter and holidays, we are positioned well to capture growth opportunities in the continued transformation of the automotive industry and Software Defined Vehicles.

Our Media & Communication business has done well in a deteriorated business environment for the media, telecom and technology industry, growing 0.6% QoQ and 3.4% YoY. We are staying close to our customers and building on both growth and efficiency offerings for customers in this industry."

 

 

Result PDF

IT Consulting & Software company Tata Elxsi announced Q2FY24 results:

1. Financial Performance:
- In the second quarter of FY24, Tata Elxsi reported revenues from operations of Rs 881.7 crore, representing a 3.7% QoQ growth and 15.5% YoY growth.
- The company achieved an operating margin of 29.9% and a net margin (PBT) of 28.9%.
- Profit Before Tax (PBT) increased by 6.3% QoQ and 20.4% YoY, reaching Rs 263.9 crore.
- Profit After Tax (PAT) registered a growth of 5.9% QoQ and 14.8% YoY, amounting to Rs 200.0 crore.
- Earnings Per Share (EPS) stood at Rs 32.12, showing a 5.9% QoQ increase and a 14.8% YoY increase.

2. Business Highlights:
- Transportation segment achieved a QoQ growth of 7.1% and a YoY growth of 26.1%, driven by large deals and strong traction in Software Defined Vehicle (SDV) engagements.
- Healthcare segment experienced a QoQ growth of 3.6% and a YoY growth of 8.5%, attributed to new product engineering, digital health, and regulatory services.
- Media and Communications segment witnessed marginal QoQ growth of 0.1% and YoY growth of 2.8%, supported by platform-led deals and growth in key accounts.
- Industrial Design division crossed Rs 100 crore in revenue for the first time, achieving a growth of 35.4% YoY.

3. Talent Acquisition:
- Tata Elxsi added 585 employees during the quarter, emphasizing its commitment to investing in talent and building a strong talent pipeline.
- The company's employee engagement and talent retention strategies contributed to attrition further improving to 13.7%.

Manoj Raghavan, CEO and Managing Director, Tata Elxsi, commenting on the company’s performance in the second quarter of FY24, said, “We are happy to report a healthy performance in the second quarter with a top-line growth of 3.7% QoQ and 15.5% YoY in a challenging quarter for the industry. Our EBITDA has grown 4.8% QoQ and 16.3% YoY and our EBITDA margin has improved by 31 bps to 29.9%. This underlines our strong focus on delivery and operational excellence, key account management and differentiated offerings.

Our Transportation business, which accounts for 46.2% of the revenue coming from three verticals, witnessed strong growth of 7.1% QoQ and 26.1% YoY. During the quarter, we also won a landmark multi-year large deal for SDV from one of the leading Automotive OEMs.

Our Healthcare & Lifesciences business too registered a healthy growth of 3.6% QoQ and 8.5% YoY. Our strong design capabilities are helping us win multi-year innovation deals with leading device manufacturers.

Our Media & Communication business continues to face a cautious industry environment and grew marginally at 0.1% QoQ and 2.8% YoY. We continue to closely engage with our key customers and are developing new offerings and relevant partnerships that will help them drive efficiencies and create new revenue streams in a challenging business environment.

Our Design-Digital strategy is playing out well and has helped our Industrial Design division to crore Rs 100 crore revenue mark for the first time in company history. The division grew by 4.1% QoQ and 35.4% on a YoY basis, driven by strong demand for Design-Led engineering services.

We continue to invest in building our talent pipeline with a net add of 585 Elxsians in the quarter. Our employee engagement and talent retention strategies have contributed to attrition further improving to 13.7%.

We are starting our third quarter with confidence in our differentiated Design-Digital capabilities and a strong deal pipeline.”

 

Result PDF

IT Consulting and Software company Tata Elxsi announced Q1FY24 results:

  • Revenues from operations at Rs 850.3 crore
  • Industry-leading EBITDA Margin of 29.6%
  • Profit before Tax of Rs 248.3 crore
  • Crosses 12,000 employee mark with 422 net additions in the quarter

Manoj Raghavan, CEO and Managing Director, Tata Elxsi, commenting on the company’s performance in the first quarter of FY24, 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.

During the quarter, our Healthcare & Lifesciences business has reported a healthy QoQ growth of 3.4% which is a significant improvement over the performance during the earlier two quarters. This vertical also reported new product development deal wins for medical diagnostics and Smart Hospital equipment.

In the Transportation business, we continue to drive differentiated software capability and scale, and see good traction and a strong deal pipeline, especially in Software Defined Vehicles and EV. While some deal closures were delayed in this quarter, we won significant new deals including a strategic multi-year multi-million US$ SDV deal with a leading Asian OEM for their SDV platform and software development, and a multi-country licensing and deployment of our Connected vehicle platform with a global Top 5 OEM. To expand our automotive and smart mobility focus in North America, we have opened an Innovation Hub and nearshore engineering centre in Troy, Michigan that will innovate along with leading institutes and technology ecosystem in the region.

We also signed a Memorandum of Understanding (MoU) with the Indian Institute of Technology, Guwahati (IIT-G) to jointly work on developing and commercializing state-of-the-art solutions for the fast-evolving space of electric mobility."

 

Result PDF

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Zydus Lifesciences has received a USFDA acceptance for its ANDA of for copper histidinate (CUTX-101), intended to treat Menkes disease in pediatric patients.

Zydus Lifesciences has received a USFDA acceptance for its ANDA of for copper histidinate (CUTX-101), intended to treat Menkes disease in pediatric patients.

Published on 16-Dec-2025 09:05

KIMS has commenced operations at its newly established hospital located at the PES University campus in Electronic City, Bengaluru

Krishna Institute of Medical Sciences (KIMS) has commenced operations at its newly established hospital located at the PES University campus in Electronic City, Bengaluru

Published on 16-Dec-2025 09:03

Power Grid Corporation of India Ltd (POWERGRID) has been declared the successful bidder under Tariff-Based Competitive Bidding

Power Grid Corporation of India Ltd (POWERGRID) has been declared the successful bidder under Tariff-Based Competitive Bidding 

Published on 16-Dec-2025 09:01

Marico is in talks to acquire Cosmix, a startup that sells plant-based protein supplements

Marico is in talks to acquire Cosmix, a startup that sells plant-based protein supplements

Published on 16-Dec-2025 09:00

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