Tata Elxsi Q4 Results Update

On 20th April 2022, Tata Elxsi announced its quarterly results for the last quarter of FY2022.

Key Highlights:

Q4FY22 Performance updates:

Revenue:

- For Q4FY22, the company reported revenue of Rs.681.7 Crore with a growth of 7.3% q-o-q and 31.5y-o-y. 

- Constant currency revenue growth is 7.4%.

Profitability:

- The company’s EBITDA for the quarter is Rs.221.2 Crore with a growth of 31.7% y-o-y. 

- EBITDA margin for the quarter is at 32.5%

- PBT for the quarter is Rs.220.3 Crore with a growth of 36.2% y-o-y.

- PAT for the quarter is Rs. 160 Crore with a growth of 38.9% y-o-y.

EPS:

- For Q4FY22, the company reported an EPS of 25.69 with a growth of 6% q-o-q and 38.9% y-o-y.

Employee count:

- The closing headcount is 9376.

- Net additions for the quarter are 343.

- LTM attrition is 20.8%

Segment Highlights:

- Embedded Product Design (EPD), the company’s largest division, grew by 7.5% QoQ 

- Industrial Design and Visualization (IDV) grew by 8.0% QoQ

FY22 Annual Performance:

Revenue: 

- Tata Elxsi reported revenue of Rs.2470.8 Crore with a growth of 35.3%

- Constant currency revenue growth is 34.3% 

- The company reported the highest-ever incremental revenue addition in the year.

Profitability:

- The company’s EBITDA for FY22 is Rs.765.7 Crore with a growth of 46.6% y-o-y. 

- The EBITDA margin is at 31%

- PBT reported is Rs.745.5 Crore with a growth of 45.6% y-o-y.

- PAT is Rs.549.7 Crore with a growth of 49.3% y-o-y.

EPS:

- For FY2022, Tata Elxsi reported an EPS at 88.26 with a growth of 49.3%.

Employee count: 

- The closing headcount for the year is 9376 employees.

- Net addition for the year is 2014 

- LTM attrition is 20.8%.

Segment Highlights:

- Embedded Product Design (EPD), the company’s largest division, grew by 35.7% YoY 

- Industrial Design and Visualization (IDV) grew by 36.0% YoY

Geographical market growth:

- For Q4FY22, the revenue from geographical presence in the European market grew by 3.65% on a q-o-q basis and declined by 0.58% on a y-o-y basis. For FY22, the revenue declined by 7.47%.

- For Q4FY22, the revenue from the geographical presence in the American market declined by 2.6% on a q-o-q basis and grew by 2.7% on a y-o-y basis. For FY22, the revenue grew by 14.76%.

- In Q4FY22, the revenue from the rest of the world grew by 1.21% on a q-o-q basis and dropped by 25.89% on a y-o-y basis. For FY22, the revenue declined by 38.84%.

- For Q4FY22, the revenue from the geographical presence in India dropped by 1.19% on a q-o-q basis and grew by 13.79% on a y-o-y basis. For FY22, the revenue grew by 19.54%.

Revenue by Industry:

- The constant currency revenue from Transportation grew by 8.3% q-o-q and 38.% y-o-y for Q4FY22 and for FY2022 it grew by 29.4%.

- The constant currency revenue from Media and Communications grew by 7.2% q-o-q and 31.6% y-o-y for Q4FY22 and for FY2022 it grew by 30.6%.

- The constant currency revenue from Healthcare and Medical devices grew by 6.8% q-o-q and 62.4% y-o-y for Q4FY22 and for FY2022 it grew by 71.4%.

Growth in Services:

- The constant currency revenue from EPD segment grew by 7.6% q-o-q and 38.4% y-o-y for Q4FY22 and for FY2022 it grew by 34.7%.

- The constant currency revenue from IDV segment grew by 8.7% q-o-q and declined by 10.1% y-o-y for Q4FY22 and for FY2022 it grew by 34.9%.

- The constant currency revenue from SIS segment declined by 3.8% q-o-q and 2.7% y-o-y for Q4FY22 and for FY2022 it grew by 17.8%.

Partnerships:

- Design Digital deal wins leveraging Tata Elxsi video platform and IP for a Middle East broadcasting leader.

- A North American Healthcare platform provider selected Tata Elxsi for providing cloud engineering services.

- Tata Elxsi was selected by a leading German Tier 1 supplier for establishing an Offshore Development Center for Autonomous Driving and ADAS technologies.

- Tata Elxsi wins a multi-year multi-million USD deal for EV system development from a global automotive leader.

- Tata Elxsi was selected to establish and set up a Virtual Reality Innovation Center by a leading European commercial vehicle manufacturer.

“This has been the strongest year of growth in the company’s history and an all-round performance across business units, industries, and geographies. We continue to execute strongly on our growth aspirations with over 7.4% QoQ CC revenue growth and 10% QoQ PBT growth in Q4 FY22.” said Manoj Raghavan, MD, and CEO of Tata Elxsi.

The board of directors has recommended a final dividend of 425% (Rs. 42.50 per equity share of par value of Rs. 10 each) for the financial year ending March 31, 2022.

On Thursday, Tata Elxsi’s shares went up by 1.83%.