Quote on Tata Elxsi Q4FY21 Result by Mr. Jyoti Roy, Angel Broking Ltd

23/04/2021 11:36:13 AM | Source: Angel Broking Ltd

Quote on Tata Elxsi Q4FY21 Result by Mr. Jyoti Roy, Angel Broking Ltd

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Below are Quote on Tata Elxsi Q4FY21 Result by Mr. Jyoti Roy - DVP- Equity Strategist, Angel Broking Ltd

Tata Elxsi reported a good set of numbers for Q4FY21. Revenues for the quarter was up by 8.7% QoQ to Rs. 518.4 crore. EBIDTA for the quarter was up by 17.0% YoY to ₹168 crore while EBIDTA margins expanded by 230bps QoQ to 32.4%. Net profit for the quarter was up by 9.5% QoQ to ₹115.2 crore. Growth was led by the Industrial Design & Visualization (IDV) segment which registered a sequential growth of 40.2% QoQ while the System Integration & Support (SIS) segment grew by 21.2% QoQ. Embedded Product Design (EPD) segment which accounts for ~ 85% of the company’s revenue registered a growth of 5.5% QoQ.

During the quarter the transportation segment registered a positive growth of 3.9% QoQ and seems to have turned the corner. Broadcast & Communication too registered a growth of 5.8% QoQ while Healthcare & Medical Devices registered a sequential growth of 13.3% QoQ. We believe that Tata Elxsi is poised for strong growth going forward due to increased demand for engineering services and greater offshoring and justifies the premium valuations of 28.6x FY23 earnings estimate. Post the Q4 results we maintain our positive outlook on the company.

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