Tata Elxsi shares surge 5% after company announces launch of global offshore development centre

Shares of the Tata Group's design, technology, and engineering services company - Tata Elxsi jumped as much as 5.96% to hit an intraday high of ₹4,280 on Friday, March 20 on the National Stock Exchange (NSE) after the company announced launch of a Global Offshore Development Centre (ODC) for Terumo Corporation. On the BSE, Tata Elxsi shares advanced as much as 5.91% to ₹4,276.80.

The company post market hours on Thursday said that Tata Elxsi and Terumo Corporation, a global medical innovation company, inaugurated the Terumo–Tata Elxsi Offshore Development Centre.

"This dedicated centre will support the development of Terumo’s cardiac and vascular solutions, strengthening engineering and innovation capabilities while enabling continuous lifecycle support across international markets," Tata Elxsi said in a press release.

"The centre brings together multidisciplinary teams, with Tata Elxsi’s expertise in design, engineering, verification, regulatory compliance, and localisation, along with the thoughtful application of AI, GenAI, and digital capabilities in software engineering. This enables faster development and regional adaptation while addressing the growing demand for patient centric medical devices with improved cost efficiency and product differentiation," Tata Elxsi added.

“This Offshore Development Centre represents a comprehensive long-term partnership model with Terumo Corporation to bring Tata Elxsi’s multi-disciplinary, cross functional and deep domain expertise to drive innovation and cost efficiencies across Terumo’s Cardiovascular portfolio. We are committed to combining design, engineering, and regulatory capabilities, enhanced by the latest AI- and GenAI-powered technologies, to help Terumo bring next-gen medical technologies to global and emerging markets,” said Sreevatsa Sahasranaman, Sr. Vice President & Head – Healthcare & Life Sciences, Tata Elxsi.

Tata Elxsi Q3 earnings

Tata Elxsi reported a 29.7% quarter-on-quarter (QoQ) decline in its net profit to ₹108.9 crore in the third quarter of current financial year. In the quarter-ago period, the design and technology services company had clocked a profit of ₹154.8 crore, it said in a regulatory filing.

However, its bottom line was impacted by a one-time exceptional item on account of the implementation of new labour codes. Furthermore, its profit after tax (PAT) for the reporting quarter, barring the one-time exception expense, stood at ₹179.1 crore.

Its revenue from operations advanced 3.9% sequentially to ₹953.5 crore for the December quarter of FY26, compared to ₹918.1 crore in the second quarter of the current fiscal year (Q2FY26).

As of 1:34 pm, Tata Elxsi shares traded 5.4% higher at ₹4,254, outperforming the NIFTY50 index which was up 1%.