Profit before tax (PBT) stood at Rs 262.41 crore in the March quaurter, registering a growth of 4.9% YoY.

EBITDA stood at Rs 261.2 crore in the quarter ended 31 March 2024 (up 4.7% YoY). EBITDA margin was at 28.8% in Q4 FY24 as compared to 29.8% posted in Q4 FY23.

On full year basis, the company’s net profit rose 4.91% to Rs 792.24 crore on 14.15% increase in revenue from operations to Rs 3,674.10 crore in FY24 over FY23.

Transportation continued to grow strongly, registering a revenue growth of 24.6% YoY, supported by deal wins in electric, software defined vehicles and OEMs.

Healthcare delivered sustained growth of 10.8% YoY. Media and Communications grew 0.2% YoY in a challenging business environment for this industry.

Software Development and Services (SDS) grew by 9.3% YoY, in constant currency. System Integration & Support (SIS) grew by 18.6% YoY, in constant currency.

The company's total headcount at the end of the March 2024 stood at 13,399. Attrition rate stood at 12.4% in Q4 FY24 as compared to 17.3% in Q4 FY23.

Manoj Raghavan, CEO and managing director, Tata Elxsi, said, “Financial year 2024 has been a year of consistent operational performance with a revenue growth of 13% despite global macroeconomic uncertainties, and volatility in the media and communications industry over the last few quarters. We have done well to maintain industry leading EBITDA margin at 29.5% for the year, even while we continued to invest in expanding our talent base through all four quarters, with a net addition of 1535 Elxsians through the year.

During the financial year, our transportation business grew strongly at 24.6% YoY, and now accounts for 49.9% of our overall SDS revenues. OEMs now constitute over 56% of the transportation business, and we are now embedded into the SDV programs of 5 global OEMs.

The Healthcare & Lifesciences business registered a growth of 10.8% YoY. Our Media & Communications business grew 0.2% during the financial year. Even while the industry continues to experience significant reductions in discretionary spend and R&D budgets, we are placed well with our integrated design-digital offerings and investments in platforms for the future.

Our Systems Integration and Support (SIS) business is pivoting to value-added services, innovation-led projects such as experience centres, and supporting downstream deployment and run management for our products and platforms. While Q4 revenues and growth was impacted by hardware shipment delays due to the Red Sea shipping crisis, it grew creditably by 19.0% in FY24, getting to a near 100 crore business in this financial year.”

Meanwhile, the board recommended a final dividend of Rs 70 per equity share for the financial year ending 31 March 2024, subject to approval by the shareholders of the company.

Tata Elxsi is amongst the world's leading providers of design and technology services across industries including automotive, broadcast, communications, healthcare and transportation.