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'Sell' Tata Elxsi Shares Maintains Motilal Oswal Post Q2 Results, Sees 21% Potential Downside — Here's Why
Tata Elxsi's valuations remain steep at ~52x 12 months FWD P/E, which Motilal Oswal sees as difficult to justify given current headwinds.
10 Oct 2025, 08:17 AM IST 
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While Tata Elxsi's management commentary on a better H2 and double-digit FY27 growth appears encouraging, the near-term growth momentum remains patchy. (Photo: Tata Elxsi Website)
Tata Elxsi reported revenue of $105 million in Q2 FY26, up 1% QoQ in CC terms, in line with estimate. Growth was led by media and communications (up 3.7% QoQ CC), whereas transportation/healthcare and lifesciences declined 0.5%/4.6% QoQ CC.
