On standalone basis
Quarter ended June 2022 compared
with Quarter ended March 2022.
Net sales (including other operating income) of Tata Elxsi has increased 6.48%
to Rs 725.89 crore.
Operating profit margin has jumped
from 26.87% to 32.81%, leading to 7.64% rise in operating profit to Rs 238.15
crore. Purchase of finished goods cost rose from 5.05% to 5.40%.
Employee cost decreased from 50.53% to 50.42%. Other
expenses fell from 12.00% to 11.35%.
Other income fell 42.95% to Rs 10.32
crore. PBIDT rose 3.82% to Rs 248.47 crore. Provision for
interest up 5.33% to Rs 3.36 crore.
PBIDT rose 3.82% to Rs 248.47
crore. Provision for depreciation rose 7.62% to Rs 17.09
crore.
Profit before tax grew 3.52% to Rs
228.02 crore. Provision for tax was expense of Rs 43.3 crore,
compared to Rs 60.25 crore. Effective tax rate was 18.99% compared
to 27.35%.
Profit after tax rose 15.44% to Rs
184.72 crore.
Promoters’ stake was 43.92% as of 30
June 2022 ,compared to 44.08% as of 31 March 2022 .
Quarter ended June 2022 compared
with Quarter ended June 2021.
Net sales (including other operating income) of Tata Elxsi has increased 30.01%
to Rs 725.89 crore. Sales of System Integration & Support Serv
segment has gone up 33.58% to Rs 15.03 crore (accounting for 2.07% of total
sales). Sales of Software Development & Services segment has
gone up 29.94% to Rs 710.85 crore (accounting for 97.93% of total
sales).
Profit before interest, tax and
other unallocable items (PBIT) has jumped 53.77% to Rs 254.33
crore. PBIT of System Integration & Support Serv reported profit
of Rs 0.00 crore compared to loss of Rs 0.00 crore. PBIT of Software
Development & Services segment rose 53.76% to Rs 254.33 crore (accounting
for 100.00% of total PBIT).
PBIT margin of System Integration
& Support Serv segment rose from negative 0.01% to 0.02%. PBIT
margin of Software Development & Services segment rose from 30.23% to
35.78%. Overall PBIT margin rose from 29.63% to 35.04%.
Operating profit margin has jumped
from 26.87% to 32.81%, leading to 58.77% rise in operating profit to Rs 238.15
crore. Purchase of finished goods cost fell from 7.10% to 5.40%.
Employee cost decreased from 54.26% to 50.42%. Other
expenses fell from 11.77% to 11.35%.
Other income fell 41.03% to Rs 10.32
crore. PBIDT rose 48.34% to Rs 248.47 crore. Provision
for interest up 104.88% to Rs 3.36 crore.
PBDT rose 47.78% to Rs 245.11
crore. Provision for depreciation rose 43.37% to Rs 17.09
crore.
Profit before tax grew 48.12% to Rs
228.02 crore. Provision for tax was expense of Rs 43.3 crore,
compared to Rs 40.56 crore. Effective tax rate was 18.99% compared
to 26.35%.
Profit after tax rose 62.92% to Rs
184.72 crore.
Promoters’ stake was 43.92% as of 30
June 2022 ,compared to 44.53% as of 30 June 2021 .
Management Commentary:
Commenting on the performance, Mr. Manoj Raghavan, CEO and
Managing Director, Tata Elxsi said: “We
are starting FY23 on a strong note with 6.5% QoQ revenue growth in constant
currency. This was all volume-led and supported by robust growth across
divisions, verticals and key markets. We continue to maintain and expand our
margins with our EBITDA growing at 58.8% YoY and PAT growing at 62.9% YoY.
Our differentiated delivery
capability powered by Domain, Design, and Digital, is helping us continue to
win deals which are of strategic importance to our customers.
I am delighted that the Tata
Elxsi family is now over 10,000 people strong. We added 771 employees on a net
basis in the quarter, more than doubling from the previous quarter. This has
been aided by concerted efforts in reinforcing our employer brand proposition
and employee engagement that have helped reduce our attrition rate in the
quarter. We are also expanding our delivery presence with a new center in
Kozhikode.
We are taking a seminal role
in fostering future design thinkers and innovators for sustainability, with the
launch of iGNITE – a global design and innovation contest for sustainable
design, coinciding with the World Industrial Design Day on 29th June.
I am delighted to start the financial year with
robust growth in revenues, margins, employee and customer additions. We are
entering the second quarter with a strong order book and a healthy deal
pipeline across key markets and industries.”
| Tata Elxsi : Standalone Results | | Quarter ended | Year ended |
|---|
| Particulars | 202206 | 202106 | Var.(%) | 202203 | 202103 | Var.(%) |
|---|
| Net Sales (including other operating income) | 725.89 | 558.32 | 30.01 | 2,470.80 | 1,826.16 | 35.30 | | OPM (%) | 32.81 | 26.87 | 594 bps | 30.99 | 28.61 | 238 bps | | OP | 238.15 | 150.00 | 58.77 | 765.73 | 522.40 | 46.58 | | Other Inc. | 10.32 | 17.50 | -41.03 | 44.53 | 39.77 | 11.97 | | PBIDT | 248.47 | 167.50 | 48.34 | 810.26 | 562.17 | 44.13 | | Interest | 3.36 | 1.64 | 104.88 | 9.43 | 5.93 | 59.02 | | PBDT | 245.11 | 165.86 | 47.78 | 800.83 | 556.24 | 43.97 | | Depreciation | 17.09 | 11.92 | 43.37 | 55.34 | 44.38 | 24.70 | | PBT | 228.02 | 153.94 | 48.12 | 745.49 | 511.86 | 45.64 | | PBT before EO | 228.02 | 153.94 | 48.12 | 745.49 | 511.86 | 45.64 | | EO Income | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 228.02 | 153.94 | 48.12 | 745.49 | 511.86 | 45.64 | | Taxation | 43.3 | 40.56 | 6.76 | 195.82 | 143.74 | 36.23 | | PAT | 184.72 | 113.38 | 62.92 | 549.67 | 368.12 | 49.32 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 184.72 | 113.38 | 62.92 | 549.67 | 368.12 | 49.32 | | EPS (Rs)* | 29.66 | 18.21 | 62.92 | 88.26 | 59.11 | 49.32 | | | * EPS is on current equity of Rs 62.28 crore, Face value of Rs 10, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
|
| Tata Elxsi : Standalone Segment Results | | | Quarter ended | Year ended |
|---|
| % of (Total) | 202206 | 202106 | Var.(%) | % of (Total) | 202203 | 202103 | Var.(%) |
|---|
| Sales | | System Integration & Support Serv | 2.07 | 15.03 | 11.25 | 33.58 | 2.00 | 49.49 | 44.49 | 11.24 | | Software Development & Services | 97.93 | 710.85 | 547.06 | 29.94 | 98.00 | 2,421.31 | 1,781.67 | 35.90 | | Total Reported Sales | 100.00 | 725.89 | 558.32 | 30.01 | 100.00 | 2,470.80 | 1,826.16 | 35.30 | | Less: Inter segment revenues | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | Net Sales | 100.00 | 725.89 | 558.32 | 30.01 | 100.00 | 2,470.80 | 1,826.16 | 35.30 | | PBIT | | System Integration & Support Serv | 0.00 | 0.00 | 0.00 | LP | 0.30 | 2.49 | 3.65 | -31.75 | | Software Development & Services | 100.00 | 254.33 | 165.40 | 53.76 | 99.70 | 828.95 | 551.79 | 50.23 | | Total PBIT | 100.00 | 254.33 | 165.40 | 53.77 | 100.00 | 831.44 | 555.44 | 49.69 | | Less : Interest | | 3.36 | 1.64 | 104.33 | | 9.43 | 5.93 | 58.89 | | Add: Other un-allcoable | | -22.95 | -9.83 | -133.51 | | -76.52 | -37.64 | -103.30 | | PBIT Margin(%) | | System Integration & Support Serv | | 0.02 | -0.01 | 2.13 | | 5.03 | 8.20 | -316.95 | | Software Development & Services | | 35.78 | 30.23 | 554.32 | | 34.24 | 30.97 | 326.51 | | PBT | 100.00 | 228.02 | 153.93 | 48.13 | 100.00 | 745.49 | 511.87 | 45.64 |
|
|
Peer Comparision (Standalone)
|
Q-202206
|
Sales
(Rs. Crs)
|
var.(%)
|
OP
(Rs. Crs)
|
var.(%)
|
Net Profit
(Rs. Crs)
|
var.(%)
|
Share Price(Rs)
14-Jul-2022
|
var.(%)
over
One year
|
TTM EPS
|
TTM PE
|
|
Tata Elxsi Ltd
|
725.89
|
30.01
|
238.15
|
58.77
|
184.72
|
62.92
|
7,798.00
|
78.51
|
99.72
|
78.20
|
|
Alphalogic Techsys Ltd
|
0.94
|
|
0.42
|
|
0.40
|
|
39.75
|
82.26
|
0.59
|
67.47
|
|
Excel Realty N Infra Ltd
|
2.92
|
-
|
-0.20
|
-5.26
|
1.01
|
LP
|
9.42
|
141.54
|
-0.04
|
-
|
|
Ksolves India Ltd
|
16.11
|
67.81
|
7.23
|
62.11
|
5.44
|
36
|
393.20
|
67.91
|
14.10
|
27.88
|
|
Moschip Technologies Ltd
|
35.29
|
23.69
|
5.36
|
36.39
|
1.72
|
-
|
54.35
|
8.59
|
0.47
|
114.95
|
|
Virinchi Ltd
|
31.03
|
-2.79
|
7.88
|
-6.3
|
3.24
|
102.5
|
35.15
|
15.44
|
1.71
|
20.55
|
|
Industry
|
812.18
|
29.25
|
258.84
|
55.36
|
196.53
|
66.88
|
52,601.08
|
88.59
|
|
15.03
|
|