Tata Elxsi, a player in the design and technology services sector, has seen development in both sales and profitability over the past ten years by entering new verticals and establishing itself as a specialist.
The second quarter’s figures show that the growth is continuing. The stock has increased by more than 900% in the last five years. And in a challenging last year, it increased by about 35%.
Following the financial outcomes for the Q2 of FY23, here are a quick set of conclusions:
With quarterly growth of 3.8% and annual growth of 30.4%, the transportation sector has seen its growth narrative hold strong. Deals in the EV, autonomous vehicle, and related segments led to this.
The primary industries of media and communications also had revenue increases of 2.2% and 22.2% for the same time periods. Healthcare, which makes up the lowest portion of the company’s sales, saw the numbers at 8.2% and 55.9%, demonstrating that there is still a lot of headroom as technology continues to take center stage.
Tata Elxsi’s net profit increased 39% year over year to Rs 174.28 crore from Rs 125.33 crore for the second quarter of FY22. Sales, meanwhile, increased by 28.19% to Rs 763.17 crore from Rs 595.33 crore. But when compared to the first quarter of the current fiscal year, the net profit of Tata Elxsi for the most recent quarter (Q2) fell by 5.65%. (Q1).
The earnings presentation describes how the second quarter was marked by significant investments in future growth. Tata Elxsi experienced its largest net increase in personnel ever with 1,532 new hires.
The second half features a strong order book and a good deal pipeline across key markets and industries, according to an analysis of what lies ahead. They have also made significant investments in the development of engineering talent, leadership, and technology that will fuel the next stage of growth.
Read: Virat Kohli’s fan murders Rohit Sharma’s fan over who is the better cricketer in Tamil Nadu