Tata Elxsi Posts 49% Profit Growth in FY2022

Article By : Tata Elxsi

Tata Elxsi has reported revenues of Rs. 2470.8 cr for FY2022, with net profit growing by 49.3% to a record Rs. 549.7 cr.

Tata Elxsi, one of the leading providers of design led technology services, has announced revenues of Rs. 2470.8 cr for the fiscal year ended 31 March 2022, up by 35.3% year-on-year. Profit after tax grew by 49.3% to Rs. 549.7 cr—crossing Rs. 500 cr for the first time in company’s history.

The company’s Embedded Product Design (EPD) revenue grew by 34.7% YoY, while Industrial Design and Visualization (IDV) business grew by 34.9% YoY.

For the fourth quarter FY2022, Tata Elxsi reported Rs. 687.1 cr of revenue from operations, a growth of 7.3% quarter-on-quarter (QoQ) and 31.5% over same quarter of previous year (YoY). During the period, PBT stood at Rs. 220.3 Cr, registering a growth of 10% QoQ and 36.2% YoY. The company’s growth was powered by Embedded Product Design (EPD) growing at 7.5% QoQ, while Industrial Design and Visualization (IDV) grew smartly at 8% QoQ.

“This has been the strongest year of growth in the company’s history and an all-round performance across business units, industries and geographies. We continue to execute strongly on our growth aspirations with a CC revenue growth of 7.4% and 10% QoQ PBT growth in Q4 FY22,” said Manoj Raghavan, CEO and Managing Director, Tata Elxsi. Our Transportation business is now on a path of accelerated growth, with our differentiated EV, Autonomous, Connected and Digital capabilities powering large deal wins. We have executed strongly on our key strategies of leadership in our chosen verticals, deeper customer mining, large sustainable deals, and rebalancing of our vertical and geographic mix.

We continue to win market share and strengthen our position in the market, supported by the passion and commitment to deliver excellence and customer delight from the entire Tata Elxsi team. On the whole, it has been a great performance amidst a year of pandemic-led disruptions and supply related challenges across the industry. We continue to invest in building our talent pipeline to fuel continued growth.”

 

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