This Tata Group stock which is among the world’s leading design and technology services providers gained 3 percent after the company released its business update for the September ended quarter Q2FY24.
At the day’s closing the shares of Tata Elxsi were trading at Rs. 7,605 up 2 percent from its previous day close price and the market capitalization of the company is 47,385 crores.
As per the company’s filing, Tata Elxsi has reported their Q2FY24 Business update on October 17, 2023 and it is as follows.
The company’s revenue from operations grew 3.7 percent QoQ from 850.3 Cr in Q1FY24 to 881.7 Cr in Q2FY24 and 15.5 percent YoY from 763.2 Cr in Q2FY23 to 881.7 Cr in Q2FY24.
The net profit grew 5.91 percent QoQ from 188 Cr in Q1FY24 to 200 Cr in Q2FY24 and 14.77 percent YoY from 174 Cr in Q2FY23 to 200 Cr in Q2FY24, the Operating Margins were at 29.9 percent and the Net Margin (PBT) were at 28.9 percent.
Its Transportation business segment grew at 7.1 percent QoQ and 26.1 percent YoY, Healthcare business grew at 3.6 percent QoQ and 8.5 percent YoY, Media and Communications business grew 2.8 percent YoY.
The company’s revenue grew 27.28 percent from 2,470.8 Cr in FY22 to 3,144.72 Cr in FY23, accompanied by increasing profits of 549.67 Cr to 755.19 Cr.
The company reported a return on equity (ROE) of 40.97 percent and a return on capital employed (ROCE) of 51.8 percent, this indicates that the company is making very good returns on its equity and capital employed.
According to the latest shareholding data available for the June 2023 quarter, the company’s Promoters hold 43.92 percent stake, the Domestic Institutional Investors hold 4.08 percent and the Foreign Institutional Investors (FII) hold 14.22 percent.
Tata Elxsi is part of the famous Indian conglomerate the Tata Group and is among the world’s leading design and technology services providers across industries such as automotive, broadcast, communications, healthcare and transportation.
Written by: Bharath K.S
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
