Tata Elxsi delivers another quarter of strong and consistent growth, with revenue growth of 33.2% YoY and PAT growth of 43.5% YoY
EPD grows strongly at nearly 10% QoQ led by automotive, digital and healthcare deals
Bangalore, January 18, 2022: Tata Elxsi (BSE: 500408 | NSE: TATAELXSI), amongst the world’s leading providers of design-led technology services, announced its results for the third quarter of FY 2021-22 ended December 31, 2021.
The company reported ₨ 635.4 Cr of revenue from operations for Q3 FY22, registering a growth of 6.7% QoQ & 33.2% YoY. EBITDA for the quarter grew 14.8% QoQ and 46.8% YoY to 210.8 Cr, while PBT grew 17.1% QoQ and 36.9% YoY to 200.3 Cr. Company’s net profit for the quarter stood at Rs 151 Cr, reporting a growth of 20.4% QoQ and 43.5% YoY.
The company delivered industry-leading bottom-line performance and crossed the 200 Cr PBT and 150 Cr PAT milestones for the first time in its history.
Highlights of the Quarter Ended December 31, 2021:
- Revenues from operations at Rs. 635.4 Cr, +6.7% QoQ, + 33.2 % YoY
- Constant currency revenue up 6.5% QoQ, 32.7% YoY
- EBITDA of ₹ 210.8 Cr; Growth of 14.8% QoQ and 46.8% YoY
- PBT % increased from 28.6% in Q2 to 31.2% in Q3
- EBITDA Margin at 33.2%; Net Margin at 23.5%
- EPS for Q3 at 24.24 INR; +20.4% QoQ, + 43.5% YoY
The company’s growth was powered by Embedded Product Design (EPD), the company’s largest division, which grew at 9.9% QoQ and 36% YoY.
Within EPD, the Transportation business posted a third quarter of strong growth of 9.7% QoQ and 30.9% YoY, with secular growth across Electric, Autonomous and Connected technologies, and continued momentum with both OEMs and suppliers for design, technology and digital services across geographies.
Media & Communications delivered another quarter of consistent growth with 6.5% QoQ and 31.1% YoY growth respectively, supported by the addition of marque global customers, and strategic platform and solution-led multi-year deal wins.
Healthcare continued its accelerated growth at 22% QoQ and 73.4% YoY, supported by large deals and continued growth in digital health, digital engineering and regulatory services.
The Design business (IDV) continues to fuel strategic design-led digital deal wins for the company with a growth of 61.7% on a YTD basis.
Commenting on the performance, Mr. Manoj Raghavan, CEO and Managing Director, Tata Elxsi said: “We are pleased to report another quarter of consistent and strong growth, supported by differentiated offerings and industry leading operational excellence.“
We continue to execute strongly on all our key strategies, driving growth across our three primary industry verticals and regions, building on our software and digital product engineering capabilities.
We are seeing significant growth in the automotive market, with large and strategic deals with both OEMs and suppliers across Electric, Autonomous, Connected and Digital, underscoring our technology and engineering leadership.
We have won strategic multi-year large deals this quarter against the best global competitors in all three industries, which clearly underscores the differentiation we bring to our customers, and the relevance of our design-led technology capabilities.
The superior topline and bottom-line performance was supported by industry-leading operational excellence and talent retention. We are continuing to invest in our talent pipeline to support continued growth.
We are entering the fourth quarter with the confidence of a strong order book and a healthy deal pipeline across key markets and industries”
About Tata Elxsi
Tata Elxsi is amongst the world’s leading providers of design and technology services across industries including Automotive, Broadcast, Communications, Healthcare and Transportation. Tata Elxsi is helping customers reimagine their products and services through design thinking and application of digital technologies such as IoT (Internet of Things), Cloud, Mobility, Virtual Reality and Artificial Intelligence. For more information, please visit www.tataelxsi.com
Telephone: +91 80 2297 9123