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Why did TATA ELXSI LTD. share price move today?collapse benzinga

Why did TATA ELXSI LTD. share price move today?

Tata Elxsi shares are trading higher along with other Kotak Securities issued a technical Buy call with a target price of ₹7,780 for positional traders.

17% Buy 👍
BUY SELL

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Shareholding Info
  • Promoters
    43.92 %
  • Foreign institutions-FII
    13.85 %
  • Other domestic institutions
    1.7 %
  • Retail and other
    38.68 %
  • Mutual Funds
    1.85 %

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Key Indices in NSE

Key Indices in BSE

About Tata Elxsi


A subsidiary of the Tata Group, Tata Elxsi is one of the biggest providers of design and technology services in the world. It opened its door on 5th May 1989 in Bangalore, Karnataka, known as the IT hub of India, to develop and promote applications of electronics, software and embedded systems. The enterprise brings together user-friendly designs and the best technology to deliver great customer experiences. Its services extend to many industries including communications, automotive, healthcare, broadcast and transportation, and has two segments - system integration and support, and software development and services. The former works on implementing and integrating complete systems and solutions, disaster recovery and professional services for the maintenance and support of technology infrastructure around the globe. While the latter work on technology consulting, development, product design and testing services. Tata Elxsi is working towards revamping and bringing innovative products and services through design thinking and the application of digital technologies like the Internet of Things (IoT), mobility, virtual reality, artificial intelligence (AI) and cloud.

Core Activities & Products


Tata Elxsi is recognized as a premium engineering service provider worldwide and amongst the leaders in the automotive, media, broadcast, communications, and healthcare industries. The core activities and products provided by the company are:
  1. System Integration and Support: Implement and integraties complete systems and solutions for computing, computer-aided design, manufacturing and engineering, product lifecycle management, broadcast, storage, virtual reality and disaster recovery. The company also provides professional services for the upkeep and support of technology infrastructure.
  2. Software Development and Services: This segment of the company is focussed on technology consulting, development, new product design, and testing services, including consumer insights and strategy, design of visual, product, branding, packaging, user experience, service experience and transportation, three dimensional (3D) animation services and content services.
  3. Artificial Intelligence: The company offers AI-based services including video analytics, AI DMS, customer experience management services, conversational AI and smart annotation services.
  4. Broadcast and Media: Keeping up with the trends, the company offers superior digital media services to create optimised networks.
  5. Automotive: It order to build innovative and futuristic automobiles with an intuitive passenger experience, Tata Elxsi offer the following services in the automotive industry - driver management, V2X, connected digital cockpit, Adaptive AUTOSAR, ADAS, AS & AD, Autonomous Driving Middleware Platform, RoboTaxi, and Autonomous Driving Simulation Environment.
  6. Healthcare: Digital technologies have been adopted across the healthcare and pharmaceutical industry, keeping in mind the dynamic industry requirements and the competitive market. Tata Elxsi introduced the TEDREG, a global regulatory intelligence platform and a digital health platform improving the efficiency and user-experience of the industry.

Board of Directors

  1. Mr. Manoj Raghavan: CEO & Managing Director
  2. Mr. N Ganapathy Subramaniam: Chairman (Non-Executive and Non-Independent)
  3. Mrs. S Gopinath: Independent Non-Executive Director
  4. Mr. Sudhakar Rao: Independent Non-Executive Director
  5. Dr. Anurag Kumar: Independent Non-Executive Director
  6. Mr. Ankur Verma: Non-Executive Director and Non-Independent

Presence


The company is present in over 36 locations in India and abroad. It has offices in six states in India, and in the United States of America, Dubai, France, Germany, Ireland, Japan, Malaysia, Netherlands, Poland, South Africa, Spain, United Kingdom, Canada and Italy.

Registered Office:


Tata Elxsi Limited,
ITPB Road,
Whitefield,
Bangalore 560048,
India 

Strengths:


The company has many strengths that have an effect on its profitability, growth and the Tata Elxsi share price in the market. These strengths include:
  1. Subsidiary of an established brand - Tata Group, started by Jamshedji Tata.
  2. Wide geographic presence - Tata Elxsi has an extensive network that makes its operations more efficient and helps in managing competitive challenges in the industry.
  3. First mover advantage - The new products in the crowded market are quickly increasing the Tata Elxsi market share in the Software and Programming industry.
  4. High margins - In comparison with its industry peers, it is bringing in higher profit margins.
  5. Diverse Revenue Models - Since its inception, the company has ventured into several businesses outside the technology sector which allows the company to receive a revenue stream apart from the Technology, and Software & Programming segment.
  6. Training and Development - The company has one of the best training and development programs in the Technology industry and ranks very high in employee retention, new venture initiation, lack of conflict and in-house promotions.
  7. The company has no debt and no promoter pledge.
  8. The company has the ability to generate strong from core business, and has improved its cash flow over the last two years.

CSR and Sustainability


The company aims to empower communities across India, and is involved in several CSR activities. Tata Elxsi strives to serve societal, local, and national goals in all its operation locations and create a positive impact on the communities affected by its business activities. It also gives its employees the opportunity to contribute through volunteering. In 2004, a team of volunteers formed “Social Activity Forum of Elxsians” (SAFE) which provided scholarships, books and stationery, arranged medical camps, field trips, and sponsored nutritious meals for school children. Today it has turned into two flagship programs in line with the needs of Indian society. Shiksha is a program that enables education and research which sponsored 30 under-privileged girls for their undergraduate studies in the last year. In the last year, the program also sponsored the schooling of 50 disabled and 10 orphan, set up a performance art-based holistic development center for spastic children and an AI lab for IISc and sponsored IIT, Chennai to conduct research on areas of national importance. Tata Elxsi also started a program called Niramay which runs clinics for the under-priviliged and provides financial assistance for the treatment of majorly neuro, heart, and cancer patients. The goal of the program is to help more than 17,500 people each year. The company was also at the forefront in the fight against COVID-19 by delivering essential medical equipment to hospitals, and food and essentials for migrant workers and medical staff. The company is also committed to ensuring the best practices for the Environment, Health and Safety. It is working on improving its operations and responses to waste management, biodiversity loss, water depletion and climate change. It has taken steps towards protecting the environment, and adopting sustainable modes of operating. Tata Elxsi is also committed to eliminate workplace hazards and has implemented the international standards governing environmental management systems and health and safety management systems.

Criticism


Tata Elxsi has faced little criticism over the past few years, and faces some challenges. They are:
  1. Declining Per Unit Revenue - Increased players and competition in the Software and Programming industry is adding pressure on the profitability of the company.
  2. Slow Decision Making Process - The company is known for its deliberative decision making approach leading to prudent decisions, but also leads to missed opportunities in new venture efforts.
  3. High Operating Costs - In comparison to its competitors in the marketplace, the enterprise has high operating costs which may get hard to sustain in light of newer players.
  4. Easy to Imitate - Tata Elxsi’s business model can be easily imitated by competitors in its field.
  5. Dependence on Experts - There are very few employees in the company who are responsible for the knowledge base. It would pose a big challenge in the present conditions to replace them.
  6. Loyalty among suppliers is low as the company often introduced new concepts to reduce the prices in the supply chain.

COVID-19 Impact


The COVID-19 pandemic resulted in the shift to working from home, leading to an increased dependence on digital technology, including in the healthcare industry and the OTT space. This led to a lot of upward trends in the adoption and upgrade of technology, giving Tata Elxsi a great opportunity. As of April 2022, the shares of the company increased 725% in the last three years. The net profit increased by 49.32% to Rs; 549.67 crore in the last fiscal, while it was Rs. 368.12 crore for March 2021 fiscal and Rs. 256 for March 2020 fiscal. Similarly, sales also climbed to Rs. 2,470 crore for the fiscal ended March 2022 against Rs. 1609 crore for March 2020 fiscal.

Future Prospects


A majority of brokerage firms had ‘buy’ for Tata Elxsi shares in the past month, however, most of them have switched to ‘sell’ now, as the price target set by it has been reached. It has been continuing its previous falling trend, and the share has broken its medium-term moving average (50-day EMA) and crashed to a 15-day low. Previously, the stock continued to fall after breaking its medium-term moving average. As the key technical indicators switched from the higher levels, it has now turned towards the bears. The index could thus lead towards its 100-day SMA initially and 200-day SMA, subsequently, and is likely to face hurdle 10,000-mark.

Did You Know!


Tata Elxsi was recognized as a ‘leader’ and a specialised ER&D service provider across multiple industries in Zinnov Zones 2021 annual ratings and won all three awards in the NASSCOM Engineering & Innovation Excellence Awards 2021 for engineering service providers. The company has a global workforce with employees from across 20+ countries, out of which 26% are women - which is among the highest in the technology and engineering industry. From June to August 2022, to celebrate World Industrial Design Day, the company launched a worldwide design and innovation contest for students which attracted over 180 entries from across the world.

Initial Public Offering


The company launched its IPO in 1991-92 on the NSE as well as the BSE. 29,97,500 equity shares were offered to the public and all of these shares were invested in.

Equity Shares


The Tata Elxsi share price hit a new record high standing at Rs. 9,425 as they rallied 5% on NSE just last month, in August 2022. It has gained by 16% since then. In just the last year, the Tata Elxsi stock price has increased by 118%. Some investors have advised to keep hold of the shares by the company as the target price is of Rs. 9,750 as they believe the company has a growth potential and consistently pay out dividends.

Annual Financial Summary


BALANCE SHEET (in Rs. Cr.)

MAR 22

MAR 21

MAR 20

MAR 19

MAR 18

12 mths

12 mths

12 mths

12 mths

12 mths

EQUITIES AND LIABILITIES

SHAREHOLDER'S FUNDS

Equity Share Capital

62.28

62.28

62.28

62.28

62.28

TOTAL SHARE CAPITAL

62.28

62.28

62.28

62.28

62.28

Reserves and Surplus

1,538.63

1,289.90

1,027.76

880.48

676.07

TOTAL RESERVES AND SURPLUS

1,538.63

1,289.90

1,027.76

880.48

676.07

TOTAL SHAREHOLDERS FUNDS

1,600.90

1,352.17

1,090.04

942.75

738.35

NON-CURRENT LIABILITIES

Long Term Borrowings

0.00

0.00

0.00

0.00

0.00

Deferred Tax Liabilities [Net]

0.00

0.00

0.00

1.36

9.12

Other Long Term Liabilities

118.29

60.46

45.01

0.00

0.00

Long Term Provisions

39.76

39.60

36.56

12.42

9.73

TOTAL NON-CURRENT LIABILITIES

158.05

100.06

81.57

13.78

18.85

CURRENT LIABILITIES

Short Term Borrowings

0.00

0.00

0.00

0.00

0.00

Trade Payables

84.30

56.13

47.13

55.50

48.68

Other Current Liabilities

313.33

195.75

160.18

123.01

135.81

Short Term Provisions

12.60

12.59

10.06

8.35

6.89

TOTAL CURRENT LIABILITIES

410.22

264.46

217.37

186.86

191.38

TOTAL CAPITAL AND LIABILITIES

2,169.17

1,716.69

1,388.98

1,143.39

948.58

ASSETS

NON-CURRENT ASSETS

Tangible Assets

251.16

151.10

134.13

87.25

81.68

Intangible Assets

20.35

18.55

12.93

13.94

12.60

Capital Work-In-Progress

22.09

7.27

0.91

0.45

2.13

Other Assets

0.00

0.00

0.00

0.00

0.00

FIXED ASSETS

293.59

176.92

147.97

101.63

96.40

Non-Current Investments

0.00

0.00

0.00

0.00

0.00

Deferred Tax Assets [Net]

8.97

9.96

8.77

5.97

4.12

Long Term Loans And Advances

0.00

0.00

16.83

0.00

0.00

Other Non-Current Assets

170.91

138.45

14.21

27.78

39.30

TOTAL NON-CURRENT ASSETS

473.47

325.32

187.78

135.38

139.83

CURRENT ASSETS

Current Investments

0.00

0.00

0.00

0.00

0.00

Inventories

0.57

0.06

1.71

1.66

0.00

Trade Receivables

553.68

402.26

392.38

356.54

306.67

Cash And Cash Equivalents

965.21

859.62

664.22

515.81

394.34

Short Term Loans And Advances

1.00

0.91

0.89

0.76

0.84

OtherCurrentAssets

175.24

128.52

141.99

133.23

106.90

TOTAL CURRENT ASSETS

1,695.70

1,391.37

1,201.20

1,008.01

808.75

TOTAL ASSETS

2,169.17

1,716.69

1,388.98

1,143.39

948.58

OTHER ADDITIONAL INFORMATION

CONTINGENT LIABILITIES, COMMITMENTS

Contingent Liabilities

41.96

34.24

37.76

11.29

34.74

CIF VALUE OF IMPORTS

Raw Materials

0.00

0.00

0.00

40.12

0.20

Stores, Spares And Loose Tools

52.58

15.57

27.33

0.00

0.00

Trade/Other Goods

52.58

15.57

27.33

0.00

0.00

Capital Goods

0.00

0.00

0.00

0.00

0.00

EXPENDITURE IN FOREIGN EXCHANGE

Expenditure In Foreign Currency

646.05

511.94

526.93

475.88

4.27

REMITTANCES IN FOREIGN CURRENCIES FOR DIVIDENDS

Dividend Remittance In Foreign Currency

--

--

--

--

--

EARNINGS IN FOREIGN EXCHANGE

FOB Value Of Goods

--

--

--

--

--

Other Earnings

2,076.30

1,590.14

1,417.41

1,407.96

12.37

BONUS DETAILS

Bonus Equity Share Capital

31.14

31.14

31.14

31.14

31.14

NON-CURRENT INVESTMENTS

Non-Current Investments Quoted Market Value

--

--

--

--

--

Non-Current Investments Unquoted Book Value

--

--

--

--

--

CURRENT INVESTMENTS

Current Investments Quoted Market Value

--

--

--

--

--

Current Investments Unquoted Book Value

--

--

--

--

--

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