TATAELXSI

Tata Elxsi share price & financials

Price
₹4,065.5
Market cap
₹21.8k Cr
Sector
Information Technology
Calls analysed
6
Latest concall · Q1 FY27 · call held 14 Jul 2026

Tata Elxsi Q1 FY27

Operating Revenue ₹1,021.1 cr +7%EBITDA ₹216 cr +16%EBITDA Margin 21.2%

What went well

  • Quarterly operating revenue reached INR 1,021.1 crores, surpassing the INR 1,000 crore milestone.
  • Revenue grew 6.5% year-on-year and 1.3% quarter-on-quarter in constant currency.
  • EBITDA increased 15.7% year-on-year to INR 216 crores, with an EBITDA margin of 21.2%.

What to watch

  • Healthcare business was near flat quarter-on-quarter (-0.3% CC) due to delayed deal awards.
  • EBIT margin decreased 330 bps sequentially due to one-off costs and strategic investments.
Read the full call →

What Tata Elxsi does

Tata Elxsi is a global design-led technology services company, part of the Tata Group, established in 1989 with roots in Silicon Valley. It earns revenue by taking on engineering, product-design and digital-transformation programmes for OEMs and enterprises across its chosen verticals, combining design-led engineering with digital capabilities such as AI, Cloud, Cybersecurity, IoT and Extended Reality. Clients include automotive OEMs (Mercedes-Benz, Suzuki), medtech majors (Terumo, Bayer) and global telecom/media operators, for whom it runs dedicated offshore/global technology and development centres. It operates through two primary segments: Software Development & Services and Systems Integration & Support.

Segments

  • Software Development and Services (SDS)
  • Systems Integration and Support (SIS)
Track record
30+ years of design-led engineering R&D, founded 1989
Operating segments
2
Industry verticals served
4 (Transportation incl. Automotive/Aerospace/Off-Highway/Rail; Healthcare & Life Sciences; Media & Communications; Others)
Dedicated client offshore/global technology centres
Suzuki (Pune ODC + Thiruvananthapuram Cloud HIL centre), Terumo (Japan ODC), Bayer (radiology Global Technology Centre), Off-Highway & Aerospace Global Technology Centre
Academic & research partnerships
IISc Bangalore, IIT Madras, NIT Calicut, University of Illinois Urbana-Champaign, ECOSEP
Founded 1989Headquarters Bengaluru, India Company website

Guidance record · Q1 FY27

what the last two calls moved 19 tracked 6 delivered 4 missed 9 open
  • Margin Impact from Labor Code delivered said Q3 FY26 Promised: not be more than 15, 20 basis points Q1 FY27: The impact was not mentioned, and the event window has passed. The absence of any negative call-out implies the impact was within the guided range.
  • Healthcare & Life Sciences Recovery missed said Q4 FY26 Promised: recover the position in Q1 FY27 Q1 FY27: The Healthcare business reported a -0.3% QoQ CC growth. This is near-flat and not the recovery to positive growth that was promised.
  • EBITDA Margin at risk said Q1 FY26 Promised: Return to 29-30% EBITDA margin profile Q1 FY27: EBITDA margin fell sharply to 21.2% due to one-off costs and investments. While management guides for a sequential ramp-up, this significant drop puts the medium-term target of 29-30% at considerable risk.

All 19 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 14.5%, net profit up 18.8% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue955 939 908 892 918 −4%953 +1%994 +9%1,021 +14%
EBITDA266 247 208 187 193 −27%222 −10%245 +18%216 +16%
Net profit229 199 172 144 155 −32%109 −45%220 +28%171 +19%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −42.1% 1Y

₹4.0k₹5.0k₹6.0kSept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 9 Oct 2025Q3 FY26 — 13 Jan 2026Q4 FY26 — 21 Apr 2026Q1 FY27 — 14 Jul 2026

1Y: ₹5,843.5 on 10 Sept 2025 → ₹3,383. High ₹5,853 (7 Jan 2026), low ₹3,383 (9 Sept 2026).

How the price took the results

close before → close after

Q1 FY27
−3.3%
14 Jul
Q4 FY26
+3.0%
21 Apr
Q3 FY26
+1.7%
13 Jan
Q2 FY26
+2.1%
9 Oct

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 6.1% a year over 3 years, FY23 to FY26. Operating margin narrowed to 22.5%.

Year endingFY23FY24FY25FY26
Revenue₹3.1k Cr₹3.6k Cr₹3.7k Cr₹3.8k Cr
Operating profit₹962 Cr₹1.0k Cr₹973 Cr₹847 Cr
Operating margin30.6%29.4%26.1%22.5%
Interest₹15 Cr₹21 Cr₹20 Cr₹17 Cr
Depreciation₹81 Cr₹99 Cr₹105 Cr₹93 Cr
Net profit₹756 Cr₹792 Cr₹784 Cr₹628 Cr
Net margin24.0%22.3%21.0%16.7%
ROCE48.0%43.0%36.0%30.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹62 Cr₹62 Cr₹62 Cr₹62 Cr₹62 Cr₹62 Cr
Reserves₹1.3k Cr₹1.5k Cr₹2.0k Cr₹2.4k Cr₹2.6k Cr₹3.0k Cr
Borrowings₹73 Cr₹138 Cr₹185 Cr₹225 Cr₹169 Cr₹162 Cr
Other liabilities₹291 Cr₹430 Cr₹493 Cr₹457 Cr₹584 Cr₹759 Cr
Total liabilities₹1.7k Cr₹2.2k Cr₹2.8k Cr₹3.2k Cr₹3.5k Cr₹4.0k Cr
Fixed assets₹170 Cr₹272 Cr₹334 Cr₹396 Cr₹275 Cr₹259 Cr
Capital work in progress₹7 Cr₹22 Cr₹7 Cr₹2 Cr₹0 Cr₹0 Cr
Investments₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr
Other assets₹1.5k Cr₹1.9k Cr₹2.4k Cr₹2.8k Cr₹3.2k Cr₹3.7k Cr
Total assets₹1.7k Cr₹2.2k Cr₹2.8k Cr₹3.2k Cr₹3.5k Cr₹4.0k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, FIIs trimmed −2.89 pp while the public added +1.66 pp. The shareholder count grew 2% to 5,89,805.

Promoters
43.9%
FIIs
9.8%
DIIs
11.0%
Public
35.2%

Since Jun 2025

  • FIIs −2.89 pp
  • Public +1.66 pp
  • DIIs +1.24 pp

How it drifted, 12 quarters

Over this window DIIs went from 4.8% to 11.0% — +6.2 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 43.9%, FIIs 13.8%, DIIs 4.8%, Public 37.5%.Dec '23: Promoters 43.9%, FIIs 15.0%, DIIs 5.7%, Public 35.3%.Mar '24: Promoters 43.9%, FIIs 14.6%, DIIs 6.1%, Public 35.5%.Jun '24: Promoters 43.9%, FIIs 13.7%, DIIs 6.2%, Public 36.2%.Sep '24: Promoters 43.9%, FIIs 13.7%, DIIs 7.4%, Public 35.0%.Dec '24: Promoters 43.9%, FIIs 13.3%, DIIs 7.5%, Public 35.3%.Mar '25: Promoters 43.9%, FIIs 12.7%, DIIs 8.5%, Public 34.8%.Jun '25: Promoters 43.9%, FIIs 12.7%, DIIs 9.8%, Public 33.5%.Sep '25: Promoters 43.9%, FIIs 12.5%, DIIs 10.4%, Public 33.2%.Dec '25: Promoters 43.9%, FIIs 8.6%, DIIs 12.3%, Public 35.2%.Mar '26: Promoters 43.9%, FIIs 11.1%, DIIs 11.4%, Public 33.6%.Jun '26: Promoters 43.9%, FIIs 9.8%, DIIs 11.0%, Public 35.2%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 0 holders trimming and 0 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Tata Elxsi above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Tata Sons Private Limited 42.21%unchanged
Life Insurance Corporation Of India Insurer6.59%unchanged
Tata Investment Corporation Ltd 1.69%unchanged
General Insurance Corporation Of India Insurer1.22%unchanged
Tata Chemicals Limited 0.00%unchanged
Tata Industries Limited 0.00%unchanged
Tata Capital Limited 0.00%unchanged
Tata Consumer Products Limited 0.00%unchanged
Voltas Limited 0.00%unchanged
The Tata Power Company Limited 0.00%unchanged
Titan Company Limited 0.00%unchanged
Tata Steel Limited 0.00%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

Mutual funds in TATAELXSI

Filings to Aug 2026

1 new, 5 added, 5 trimmed, 0 sold out — net −0.05 L shares (−4.5%).

Held by funds
₹41 Cr
11 schemes
Biggest holder
Nippon India ETF Nifty Midcap 150
₹12 Cr · 0.3% of that fund
SchemeHoldingLast month
Nippon India ETF Nifty Midcap 150 Nippon India Mutual Fund₹12 Cr+0.02 L
SBI Arbitrage Fund SBI Mutual Fund₹9 Cr−0.09 L
Nippon India Nifty Midcap 150 Index Fund Nippon India Mutual Fund₹8 Cr+0.00 L
SBI Nifty200 Quality 30 Index Fund SBI Mutual Fund₹4 Cr−0.00 L
SBI Nifty Midcap 150 Index Fund SBI Mutual Fund₹4 Cr+0.00 L
SBI NIFTY 200 Quality 30 ETF SBI Mutual Fund₹1 Cr−0.00 L
Nippon India Nifty 500 Equal Weight Index Fund Nippon India Mutual Fund₹1 Cr+0.00 L
Nippon India Nifty 500 Quality 50 Index Fund Nippon India Mutual Fund₹1 Cr−0.00 L

HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.

Mutual funds Aug 2026

5 added, 5 trimmed — net −5,386 shares (−4.5%)

Funds are sitting on
-25%
vs est. average cost
Held by funds
₹41 Cr
11 schemes · ≈ 0.21% of the company
Biggest holder
Nippon India ETF Nifty Midcap 150
₹12 Cr · 0.3% of that fund

Shares held by these funds +258%

Aug '23 1.21 L shares Jul '26

What the price assumes

Growth trap

To justify its price of ₹3383, this stock must grow earnings at 22% every year for 7 years. Our analysis caps realistic growth at ~-6%. At that growth it is worth ₹740 — downside of 78%.

Growth the price implies
22.4% a year
for 7 years, fading to 4%
It has actually compounded at
-6.0% a year
net profit, FY23–FY26 · EPS -5.9%
The gap
0.3 pp
-78% downside if it only repeats history
Price today ₹3,383 Value at the reference growth ₹739.74

Change the assumptions yourself →

All earnings calls (5)

Read the Q1 FY27 call →

Learn to analyse Tata Elxsi

Guides on how to read this kind of business and the numbers that matter.