Tata Elxsi shares defied the weak market mood and hit a new high of Rs 6,274.70, up 7.5 per cent on the BSE in Wednesday’s intra-day trade. In comparison, the S&P BSE Sensex was down 0.36 per cent at 59,531 points at 01:53 pm.In the past one year, the stock of the Tata Group information technology (IT) products company has rallied 345 per cent, as compared to a 50-per cent surge in the S&P BSE Sensex. Moreover, the market price of Tata Elxsi has skyrocketed 1,152 per cent or Rs 5,774 from its March 25, 2020 level of Rs 501 on the BSE. The benchmark Sensex has gained 126 per cent during the same period.Tata Elxsi is a global design and technology services company. Tata Elxsi works with leading MSOs, content providers and studios to develop innovative services and applications that create subscriber stickiness and drive revenue growth. Tata Sons, the promoter, held 44.53 per cent stake in Tata Elxsi as on June 30, 2021.For April-June quarter (Q1FY22), Tata Exlsi had reported 39.4 per cent year on year (YoY) growth in revenues from operations at Rs 558 crore. The company’s profit before tax (PBT) during the quarter grew 63.9 per cent YoY at Rs 153.9 crore, which factors in the additional Rs 33 crore of employee expenses on account of the special one-time bonus for all our employees.While announcing Q1FY22 results, the company’s management had said it sees sustained recovery in the automotive market for the third consecutive quarter. The company has also won large and strategic deals with both OEMs and suppliers in EV and autonomous technologies. The company also won strategic deals in digital health, OTT and video platform development.”A leading global healthcare provider selected Tata Elxsi as their strategic digital and development partner for their next-generation digital health platform. A leading global automotive OEM selected the company as their strategic development partner for their next generation EV system development. While, a leading European headquartered innovator and systems supplier awarded the company their EV platform development program,” Tata Elxsi said in investor presentation.
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