On standalone basis
Quarter ended March 2022 compared
with Quarter ended December 2021.
Net sales (including other operating income) of Tata Elxsi has increased 7.29%
to Rs 681.74 crore.
Operating profit margin has jumped
from 32.42% to 32.45%, leading to 4.93% rise in operating profit to Rs 221.24
crore. Purchase of finished goods cost rose from 3.51% to 5.05%.
Employee cost decreased from 51.86% to 50.53%. Other
expenses rose from 11.45% to 12.00%.
Other income up 177.88% to Rs 18.09
crore. PBIDT rose 10.11% to Rs 236.14 crore. Provision
for interest up 5.98% to Rs 3.19 crore. Loan funds remained
nil.
PBIDT rose 10.11% to Rs 236.14
crore. Provision for depreciation rose 13.11% to Rs 15.88
crore.
Profit before tax grew 9.96% to Rs
220.26 crore. Provision for tax was expense of Rs 60.25 crore,
compared to Rs 49.35 crore. Effective tax rate was 27.35% compared
to 24.64%.
Profit after tax rose 5.99% to Rs
160.01 crore.
Promoters’ stake was 44.08% as of 31
March 2022 ,compared to 44.32% as of 31 December 2021 .
Quarter ended March 2022 compared
with Quarter ended March 2021.
Net sales (including other operating income) of Tata Elxsi has increased 31.51%
to Rs 681.74 crore.
Operating profit margin has jumped
from 32.42% to 32.45%, leading to 31.65% rise in operating profit to Rs 221.24
crore. Purchase of finished goods cost fell from 5.96% to 5.05%.
Employee cost decreased from 51.08% to 50.53%. Other
expenses rose from 10.55% to 12.00%.
Other income up 165.25% to Rs 18.09
crore. PBIDT rose 36.86% to Rs 239.33 crore. Provision
for interest up 67.89% to Rs 3.19 crore. Loan funds rose to Rs
138.50 crore as of 31 March 2022 from Rs 73.21 crore as of 31 March
2021. Inventories rose to Rs 0.57 crore as of 31 March 2022 from Rs
0.06 crore as of 31 March 2021. Sundry debtors were higher at Rs 672.79
crore as of 31 March 2022 compared to Rs 489.37 crore as of 31 March
2021. Cash and bank balance rose to Rs 965.21 crore as of 31 March
2022 from Rs 859.62 crore as of 31 March 2021.
PBDT rose 36.52% to Rs 236.14
crore. Provision for depreciation rose 40.53% to Rs 15.88
crore. Fixed assets increased to Rs 273.25 crore as of 31 March 2022
from Rs 158.37 crore as of 31 March 2021. Intangible assets
increased from Rs 18.55 crore to Rs 20.35 crore.
Profit before tax grew 36.24% to Rs
220.26 crore. Provision for tax was expense of Rs 60.25 crore,
compared to Rs 46.5 crore. Effective tax rate was 27.35% compared to
28.76%.
Profit after tax rose 38.93% to Rs
160.01 crore.
Equity capital stood at Rs 62.28
crore as of 31 March 2022 to Rs 62.28 crore as of 31 March 2021. Per
share face Value remained same at Rs 10.00.
Promoters’ stake was 44.08% as of 31
March 2022 ,compared to 44.53% as of 31 March 2021 .
Full year results analysis
Net sales (including other operating income) of Tata Elxsi has increased 35.30%
to Rs 2,470.80 crore.
Operating profit margin has jumped
from 28.61% to 30.99%, leading to 46.58% rise in operating profit to Rs 765.73
crore. Purchase of finished goods cost rose from 4.68% to 5.13%.
Employee cost decreased from 56.15% to 52.12%. Other
expenses rose from 10.53% to 11.77%.
Other income up 11.97% to Rs 44.53
crore. PBIDT rose 44.13% to Rs 810.26 crore. Provision
for interest up 59.02% to Rs 9.43 crore. Loan funds rose to Rs
138.50 crore as of 31 March 2022 from Rs 73.21 crore as of 31 March
2021. Inventories rose to Rs 0.57 crore as of 31 March 2022 from Rs
0.06 crore as of 31 March 2021. Sundry debtors were higher at Rs
672.79 crore as of 31 March 2022 compared to Rs 489.37 crore as of 31 March
2021. Cash and bank balance rose to Rs 965.21 crore as of 31 March
2022 from Rs 859.62 crore as of 31 March 2021.
PBDT rose 43.97% to Rs 800.83
crore. Provision for depreciation rose 24.70% to Rs 55.34
crore. Fixed assets increased to Rs 273.25 crore as of 31 March 2022
from Rs 158.37 crore as of 31 March 2021. Intangible assets
increased from Rs 18.55 crore to Rs 20.35 crore.
Profit before tax grew 45.64% to Rs
745.49 crore. Provision for tax was expense of Rs 195.82 crore,
compared to Rs 143.74 crore. Effective tax rate was 26.27% compared
to 28.08%.
Profit after tax rose 49.32% to Rs
549.67 crore.
Equity capital stood at Rs 62.28
crore as of 31 March 2022 to Rs 62.28 crore as of 31 March 2021. Per
share face Value remained same at Rs 10.00.
Promoters’ stake was 44.08% as of 31
March 2022 ,compared to 44.53% as of 31 March 2021 .
Cash flow from operating activities
increased to Rs 483.03 crore for year ended March 2022 from Rs 437.39 crore for
year ended March 2021. Cash flow used in acquiring fixed assets
during the year ended March 2022 stood at Rs 71.19 crore, compared to Rs 38.84
crore during the year ended March 2021.
Dividend:
The Board of Directors has recommended dividend of Rs 42.5 per equity share.
Management Commentary:
Commenting on the performance,
Mr. Manoj Raghavan, CEO and Managing Director, Tata Elxsi 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 over 7.4% QoQ CC revenue growth
and 10% QoQ PBT growth in Q4 FY22.
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. 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”.
| Tata Elxsi : Standalone Results | | Quarter ended | Year ended |
|---|
| Particulars | 202203 | 202103 | Var.(%) | 202203 | 202103 | Var.(%) |
|---|
| Net Sales (including other operating income) | 681.74 | 518.40 | 31.51 | 2,470.80 | 1,826.16 | 35.30 | | OPM (%) | 32.45 | 32.42 | 4 bps | 30.99 | 28.61 | 238 bps | | OP | 221.24 | 168.05 | 31.65 | 765.73 | 522.40 | 46.58 | | Other Inc. | 18.09 | 6.82 | 165.25 | 44.53 | 39.77 | 11.97 | | PBIDT | 239.33 | 174.87 | 36.86 | 810.26 | 562.17 | 44.13 | | Interest | 3.19 | 1.9 | 67.89 | 9.43 | 5.93 | 59.02 | | PBDT | 236.14 | 172.97 | 36.52 | 800.83 | 556.24 | 43.97 | | Depreciation | 15.88 | 11.3 | 40.53 | 55.34 | 44.38 | 24.70 | | PBT | 220.26 | 161.67 | 36.24 | 745.49 | 511.86 | 45.64 | | PBT before EO | 220.26 | 161.67 | 36.24 | 745.49 | 511.86 | 45.64 | | EO Income | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 220.26 | 161.67 | 36.24 | 745.49 | 511.86 | 45.64 | | Taxation | 60.25 | 46.5 | 29.57 | 195.82 | 143.74 | 36.23 | | PAT | 160.01 | 115.17 | 38.93 | 549.67 | 368.12 | 49.32 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 160.01 | 115.17 | 38.93 | 549.67 | 368.12 | 49.32 | | EPS (Rs)* | 25.69 | 18.49 | 38.93 | 88.26 | 59.11 | 49.32 | | | * EPS is on current equity of Rs 62.28 crore, Face value of Rs 10, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
|
|
Peer Comparision (Standalone)
|
Q-202203
|
Sales
(Rs. Crs)
|
var.(%)
|
OP
(Rs. Crs)
|
var.(%)
|
Net Profit
(Rs. Crs)
|
var.(%)
|
Share Price(Rs)
20-Apr-2022
|
var.(%)
over
One year
|
TTM EPS
|
TTM PE
|
|
Tata Elxsi Ltd
|
681.74
|
31.51
|
221.24
|
31.65
|
160.01
|
38.93
|
7,808.05
|
160.44
|
88.26
|
88.46
|
|
DRC Systems India Ltd
|
4.65
|
-26.89
|
0.62
|
-52.31
|
0.36
|
-41.94
|
44.20
|
70.59
|
0.18
|
240.63
|
|
Mastek Ltd
|
68.48
|
16.4
|
-8.50
|
94.04
|
25.47
|
914.74
|
2,794.00
|
105.34
|
25.32
|
110.34
|
|
Industry
|
754.87
|
29.35
|
213.36
|
701.5
|
185.84
|
57.09
|
65,157.35
|
226.44
|
|
15.03
|
|