Tata-Elxsi-Q4-Results: Revenue from Operations at ₹905.9 Cr, up 8.1%

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Synopsis:

Tata Elxsi Q4 results were announced on 23 April 2024 marking a positive outcome from the quarter and the fiscal FY2023-24. Just one of the icons of the Tata Group declared a 700% dividend (at ₹70 per equity share) and posted an Operating  Revenue Growth on a YoY constant currency basis at 7.2%. Other significant profit-related figures for Q4 included an EBITDA Margin at 28.8% and PBT at ₹262.4 Crore, a rise of 4.9% YoY, but a fall of 4.3% QoQ, while PAT was at ₹196.9 Crore, a drop of 2.3% YoY and a drop of 4.6% QoQ. Furthermore, the Company clocked growth figures across all its businesses.

Introduction

With a positive head start for the 2025 fiscal year, Tata Elxsi’s results for the last fiscal quarter of FY2023-24 are nothing short of impressive. The Company has declared an Annual Revenue Growth of 13% with an EBITDA Margin at 29.5%.  Among the best global leaders in design-driven technology services, Tata Elxsi had a first in its FY2023-24 results, announcing its first-ever Full Year Profit Before Tax going above the ₹1,000 Crore mark. The last quarter of the Company’s FY2023-24 has also come out with shining results posting a Reported Revenue of ₹905.9 Crore, up by 8.1% YoY. Over and above this, the Company’s segment-wise performance in Q4 has been a great contributor to the Company’s overall results for FY2023-24. 

Additional Read: Tata Elxsi Limited Share Price

5 Key Financial Highlights

The Q4 FY2023-24 results of Tata Elxsi are worth a look as one of the legacy companies of the erstwhile Tata Group has clocked high numbers in its Q4 results, besides showing proficiency in operations across all its segments. This is one of the most healthy results that the Company has released for a financial year. Check out five major financial highlights of Tata Elxsi’s results for Q4:

  • The Company’s Revenues from Operations stood at ₹905.9 Crore, a decrease of 0.9% QoQ, but increased by 8.1% YoY

  • The Company’s Operating Revenue Growth witnessed a decrease of 0.6% QoQ and a rise of 7.2% YoY on a Constant Currency Basis

  • EBITDA Margin was at 28.8%

  • The Profit Before Tax (PBT) was at ₹262.4 Crore, a rise of 4.9% YoY

  • The Profit After Tax (PAT) was at ₹196.9 Crore, a decrease of 2.3% YoY, and down by 4.6% QoQ. 

Consistent Growth

Tata Elxsi Q4 results are above par and in line with the Company’s further path of growth. In FY2023-24, the Company has experienced consistent growth despite macroeconomic uncertainties, both globally and domestically. Volatility in the Media and Communications sector hasn’t helped either. However, the Revenue Growth of the Company was at a healthy 13%. Furthermore, the Company has done well by leading the industry in its EBITDA Margin, standing at 29.5% for FY2023-24. Besides a growth in its numbers, the fiscal year saw new talent being added to the already proficient pool of the Company’s employees with a net addition of 1535 Elxsians through all the quarters of FY2023-24. 

Additional Read: Quarterly Results

Segment Strength 

Tata Elxsi’s results cannot be complete without a mention of its key segments leading it to success in Q4 FY2023-24. Here are segment highlights of the Company:

  • In the business of Transportation, the Company witnessed growth at 16.4% YoY in Constant Currency terms, supported by sustained traction in Software Defined Vehicles (SDV).

  • The Company’s Healthcare & Lifesciences segment saw growth of 7.2% YoY in Constant Currency terms, led by regulatory services and new product engineering.

  • The Company experienced a decline in its Media and Communications business, at 4.6% YoY in Constant Currency terms. This comes amidst a challenging industry environment and a single-time ramp-down effect with one customer.

Major Financial Metrics - Consolidated Q4 (FY2023-24) Financial Results of Tata Elxsi (in ₹ Crore)

Metrics

Q4 FY24

Q3 FY24

QoQ Growth

Q4 FY23

YoY Growth

Revenue from Operations

905.9

914.2

-0.9%

837.9

8.1%

Other Income

33.7

34.9

-3.6%

25.7

31.1%

Total Income

939.6

949.2

-1.0%

863.6

8.8%

EBITDA

261.2

270.1

-3.3%

249.5

4.7%

EBIT

233.6

244.7

-4.5%

228.4

2.3%

PBT

262.4

274.1

-4.3%

250.2

4.9%

PAT

196.9

206.4

-4.6%

201.5

-2.3%

EBITDA Margin

28.8%

29.5%

 

29.8%

 

EBIT Margin

25.8%

26.8%

 

27.3%

 

PBT Margin

27.9%

28.9%

 

29.0%

 

PAT Margin

21.0%

21.7%

 

23.3%

 

EPS Basic

31.62

33.15

-4.6%

32.36

-2.3%

EPS Diluted

31.61

33.14

-4.6%

32.36

-2.3%

The Future of Tata Elxsi

Tata Elxsi is all set to lead India’s digital transformation to the next level of technological genius with its prowess in AI expertise and Deep Domian knowledge. Its partnership with top players in the technology universe, like Microsoft, NVIDIA, Google, Brainchip, AWS, and Intel is boosting Tata Elxsi operations to become a tech-first Indian leader. The basis of its accelerated growth and its potential positive future outlook lies in its strategic partnerships with five marquee customers supplementing its already healthy client base. The future of Tata Elxsi appears promising, to say the least, with collaborations and deal wins, and more achievements in the pipeline. 

Additional Read: Annual Results

Conclusion

Starting with Q4, and going ahead into the first quarter of FY2025, the Company has announced an integrated method of doing business across all its key verticals. It plans to integrate its Industrial Design and Visualization vertical with other verticals for optimisation in Operations.  For instance, Software Development Services (SDS) blends the EPD revenues and IDV revenues into respective verticals and this counts as a single segment, with Systems Integration and Support comprising another segment. With its Q4 results and the posting of its success in business and financials for FY2024, the Company wishes to propel itself into new ventures while boosting existing ones.

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Frequently Asked Questions

What was the Tata Elxsi Q4 PAT?

Answer Field

The PAT for Tata Elxsi in Q4 was at ₹196.9 Crore.

What is the future outlook for Tata Elxsi after the release of its Q4 results?

Answer Field

Tata Elxsi Q4 results show resilience in all its segments, leading to an operational growth for its last fiscal year FY2024. The Company is entering its next fiscal year with a new phase of growth and constant confidence in its ability for differentiated design-driven engineering, with the support of a strong client base. The Company has also made some lucrative investments and plans to cash in on those.

Was there any feature that stood out in the release of Tata Elxsi’s Q4 results?

Answer Field

A stand-out feature of the Q4 results was the fact that the Company witnessed its first-ever milestone crossing in terms of its Full-year PBT at over  ₹1,000 Crore.

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