Bangalore :Tata Elxsi (BSE: 500408 | NSE: TATAELXSI), a global leader in design-led technology services, disclosed its fourth-quarter results for the period concluding on March 31, 2024.
Tata Elxsi Results Highlights for the Year Ended March 31, 2024:
- Revenues from operations reached Rs. 3,552.1 Cr, marking a 13.0% YoY increase.
- EBITDA Margin stood at 29.5%, with a PBT margin of 28.5%.
- Profit before Tax (PBT) saw an 11.9% growth to Rs. 1048.7 Cr.
- Software Development and Services (SDS) experienced a 9.3% YoY growth in constant currency.
- System Integration & Support (SIS) achieved an 18.6% YoY growth in constant currency.
Tata Elxsi Results Highlights for the Quarter Ended March 31, 2024:
- Revenues from operations totaled Rs. 905.9 Cr, showing a slight 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 Cr, showing a 4.9% YoY increase.
Industry Highlights for the Year Ended March 31, 2024:
- Transportation sector experienced robust growth of 24.6% YoY, driven by deal wins in Electric, Software Defined Vehicles, and OEMs.
- Healthcare sector sustained growth of 10.8% YoY.
- Media and Communications sector saw a marginal growth of 0.2% YoY despite facing challenges in the business environment.
Dividend Announcement:
The Board of Directors has proposed a final dividend of 700% (Rs. 70 per equity share of par value of Rs. 10 each) for the financial year ending March 31, 2024, subject to approval by the shareholders at the Annual General Meeting.
Mr. Manoj Raghavan, CEO and Managing Director of Tata Elxsi, talked about how well the company did in the year 2023-24:
He said, “Even though there were problems in the world and in the media and communications industry, we made 13% more money than last year. Our profits stayed high at 29.5%. We also added 1535 new workers during the year.
We decided to work closely with our clients in different industries. This helped us stand out from our competitors. We now offer everything from the start of an idea to the finished product. This has made our services more appealing to customers, and we’ve been able to get bigger deals. We’re now reporting all this under one segment called Software and Design Services (SDS).
Our transportation business did really well, growing by 24.6% compared to last year. We now get almost half our money from transportation. Most of our transportation customers are big car companies, and we’re working closely with five of them. I’m proud of the work we did with one of these companies that got us a special award in Germany.
Our healthcare business also grew by 10.8%. We worked with some big names in healthcare and even started a special project with a big German company that makes medical equipment.
Our media business didn’t grow much this year, but we still did okay. One of our big customers merged with another company, so we lost some business. But overall, we’re still doing well.
We’re also changing how we do business in some areas. For example, we’re focusing more on adding value to our services and helping our customers use our products better. This helped us grow our business by almost 100 Crores this year.
We’re getting more customers from different industries and focusing on building better relationships with them. We’re also hiring more people and expanding our offices. Our employees are happy, and we’re excited about the new year.
We’ve also added two new people to our board. They have a lot of experience and knowledge, and we’re looking forward to working with them.
Overall, we’re happy with how things went this year, and we’re looking forward to growing even more next year.”