BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
KRChoksey Research Report
Tata Elxsi Ltd.'s Q1 FY23 performance was slightly lower than our estimate. Rupee revenue grew by 6.5% constant currency QoQ to Rs 7,259 million, powered by embedded product design growing at 6% QoQ, while industrial design and visualization grew smartly at 9.3% QoQ.
Operating margin for the quarter stood at 30.5%. The overall growth was fueled by digital and platform-led deals. Significant growth in the automotive market helped Tata Elxsi to win large and strategic deals with both original equipment manufacturer and suppliers in electric vehicle and autonomous technologies.
Reported net profit grew by 15.4% QoQ to Rs 1,847 million with margin of 25.4%. In-spite of the ongoing talent crunch, margins expanded in the near term, led by higher offshoring/utilisation, deeper customer mining, large sustainable deals, rebalancing vertical/geographical mix and operating leverage.
The deal pipeline remains robust with a good mix of deals and has seen traction in Transportation and Medical & Healthcare segment.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
RECOMMENDED FOR YOU
Tata Capital Gets 'Add' Rating As HDFC Securities Initiates Coverage
Carlyle Group Targeting $300 Million For India Side Fund
The Maths Behind Becoming A Crorepati With Zero Side Income
Tata Motors CV Q2 Review: Motilal Oswal Maintains 'Neutral' Stance Amid Lack Of Triggers — Check Target Price
POPULAR