Tata Elxsi delivers segment leading performance for FY22 and highest annual growth in its history, with full year operating revenues growing by 35.3% and Profits after Tax growing by 49.3%, crossing Rs. 500 Cr for the first time
Stellar Q4 FY22 performance with 7.3% QoQ revenue growth and 10% QoQ PBT growth
BANGALORE, India, April 20, 2022 /PRNewswire/ -- Tata Elxsi (BSE: 500408 | NSE: TATAELXSI), amongst the world's leading providers of design led technology services, announced its fourth quarter results for period ending 31st March, 2022.
Highlights of the Year Ended March 31st, 2022
The company reported Rs. 2470.8 Cr of revenue from operations for the financial year 2021-22 ending 31st March, 2022, a growth of 35.3% YoY. During the period, company generated PBT of Rs. 745.5 Cr, registering an impressive growth of 45.6% YoY. The company registered a net profit of Rs. 549.7 Cr during the year, growing 49.3% YoY.
Highlights of the Quarter Ended March 31, 2022
For the quarter ending 31st March, 2022, company reported Rs. 687.1 Cr of revenue from operations, a growth of 7.3% over previous quarter (QoQ) and 31.5% over same quarter of previous year (YoY). During the period, PBT stood at Rs. 220.3 Cr, registering a growth of 10% QoQ and 36.2% YoY. The company's growth was powered by Embedded Product Design (EPD) growing at 7.5% QoQ, while Industrial Design and Visualization (IDV) grew smartly at 8.0% QoQ.
Q4 segment highlights:
The Board of Directors have recommended a final dividend of 425% (Rs. 42.50 per equity share of par value of Rs. 10 each) for the financial year ending 31st March, 2022, subject to approval by the shareholders of the company at the Annual General Meeting.
Mr. Manoj Raghavan, CEO and Managing Director, Tata Elxsi, commenting on the company's performance, said:
"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 a CC revenue growth of 7.4% and 10% QoQ PBT growth in Q4 FY22.
"Our Transportation business is now on a path of accelerated growth, with our differentiated EV, Autonomous, Connected and Digital capabilities powering large deal wins.
"Our Media and Communications business is continuing to grow strongly, supported by award-winning platforms and products that are powering digital transformation for some of the best global brands in the industry.
"Our Healthcare business has grown 72.4% YoY over FY21, powered by digital and connected health, regulatory services and innovation for next-generation medical devices and services.
"We have executed strongly on our key strategies of leadership in our chosen verticals, deeper customer mining, large sustainable deals, and rebalancing of our vertical and geographic mix.
"Our Design Digital proposition – of bringing together Domain, Design, and Digital, and differentiated delivery capability and ownership, positions us uniquely with customers for their strategic transformation and customer experience priorities.
"We continue to win market share and strengthen our position in the market, supported by the passion and commitment to delivery excellence and customer delight from the entire Tata Elxsi team. On the whole, it has been a great performance amidst a year of pandemic-led disruptions and supply related challenges across the industry. We continue to invest in building our talent pipeline to fuel continued growth.
"I am delighted to exit FY22 with all-round growth in revenues, margins and customer additions. We are entering a new financial year with a strong deal pipeline and the continued confidence of our customers in the value of our integrated design and product engineering, and the impact on their offerings and customer experience."
About Tata Elxsi
Tata Elxsi is amongst the world's leading providers of design and technology services across industries including Automotive, Broadcast, Communications, Healthcare and Transportation.
Tata Elxsi is helping customers reimagine their products and services through design thinking and application of digital technologies such as IoT (Internet of Things), Cloud, Mobility, Virtual Reality and Artificial Intelligence. For more information, please visit www.tataelxsi.com
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SOURCE Tata Elxsi