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Tata Elxsi Q2 FY27 Share Price & Earnings Call Analysis

₹3,716.80-1.77% today
Market cap
₹23,158 Cr
P/E
32.15
ROE
23.58%
PEG
-11.60
Price to sales
5.76
Debt to equity
0.05
52W high / low
₹5,853 / ₹2,996
Sales growth (5Y)
15.52%
EBITDA margin
22.72%
Net profit margin
18.52%
Promoter holding
43.89%
Sales (last year)
₹4,024 Cr

Guidance scorecard · Q2 FY27 call

What Tata Elxsi's management guided
and where it ranks in IT - Software

Revenue10–20%MarginsUp 0–2%CapexWhat management saidFundraisingWhat management saidOrder bookFlat

RevenueQ2 FY27 call

10–20%
  • Growth is expected to continue in the second half (H2) of the financial year, with H2 projected to be better than H1 across businesses like automotive, media & communication, and healthcare.
  • Automotive growth is primarily from the U.S. and India, with Europe remaining uncertain and soft but monitored closely.
  • New deals won and ramp-ups from existing deals will support growth; both are necessary.
  • Aerospace and defense, battery energy storage systems, and smart manufacturing verticals are nascent but gaining traction, contributing to future growth.
  • Expansion is supported by diversification of customer base and geographies, including moves into Germany and Japan in healthcare vertical.

2 more points from Tata Elxsi's call on revenue

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Full Q2 FY27 analysis

MarginsQ2 FY27 call

Up 0–2%

See what Tata Elxsi said on margins — free account, 30 seconds.

Full Q2 FY27 analysis

CapexQ2 FY27 call

  • The company continues to invest in AI-first differentiated offerings as part of its strategy.
  • There is ongoing investment in nurturing talent, reflected by the implemented wage increase to retain and reward employees.
  • They focus on expanding delivery excellence and operational leverage to improve margins.

2 more points from Tata Elxsi's call on capex

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Full Q2 FY27 analysis

FundraisingQ2 FY27 call

See what Tata Elxsi said on fundraising — free account, 30 seconds.

Full Q2 FY27 analysis

Order bookQ2 FY27 call

Flat
  • The company is closely working with OEMs and customers on several pending large deals, especially in aerospace and defense, automotive, and other verticals.
  • Many deals are in the final shortlist but have not been signed yet, with timelines uncertain—it could close in the current or subsequent quarters.
  • These complex deals typically take 2-3 quarters to ramp up as resources and teams are scaled.

2 more points from Tata Elxsi's call on the order book

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Full Q2 FY27 analysis
Full IT - Software ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in IT - Software
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. CapitalNumbersGood growth
    3
See all potential multibaggersWhere does Tata Elxsi rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

IT - Software companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 2%+₹552 Cr33.7
240%+Flat₹327 Cr7.1
3CapitalNumbers20–40%Up 2%+₹180 Cr9.2
420–40%Up 2%+₹142 Cr10.2
520–40%Up 0–2%₹1,703 Cr26.6
620–40%Flat₹4,000 Cr78.1

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Financials of Tata Elxsi

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of Tata Elxsi

Quarterly Results

Quarter-by-quarter operating performance

Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales +838850882914906926955939908892918953994
Expenses +588599618644645674689693701705725731749
Operating Profit250251264270261252266247208187193222245
OPM %30%30%30%30%29%27%28%26%23%21%21%23%25%
Other Income +2622313534326440433849-5051
Interest4466555555444
Depreciation21212525282727262524232323
Profit before tax250248264274262252299256221196215146268
Tax %19%24%24%25%25%27%23%22%22%26%28%26%18%
Net Profit +202189200206197184229199172144155109220
EPS in Rs32.3630.3232.1233.1531.6229.5636.8431.9527.6823.1824.8517.4835.37

Financials of Tata Elxsi

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales +8491,0751,2371,3861,5971,6101,8262,4713,1453,5523,7293,757
Expenses +6728279641,0391,1811,2661,3031,7042,1822,5052,7552,911
Operating Profit1772482743474163445247679621,047974847
OPM %21%23%22%25%26%21%29%31%31%29%26%23%
Other Income +4121843435840457412217988
Interest11111771017212016
Depreciation2523272525434455819910594
Profit before tax1562362643644333525127459381,0491,028825
Tax %34%34%34%34%33%27%28%26%19%24%24%24%
Net Profit +103155175240290256368550755792785628
EPS in Rs16.5224.8528.0538.5446.5641.1259.1188.26121.26127.21126.03100.88
Dividend Payout %33%28%29%29%29%40%81%48%50%55%60%74%

Financials of Tata Elxsi

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital313131626262626262626262
Reserves2523555276768801,0281,2901,5392,0232,4432,7982,979
Borrowings +000005873138185225196162
Other Liabilities +182214158207201241291430493457529759
Total Liabilities4656007159451,1431,3891,7172,1692,7643,1873,5863,963
Fixed Assets +9810710894101147170272334396318259
CWIP3212017227220
Investments000000000000
Other Assets +3644916078481,0421,2411,5401,8762,4232,7893,2663,703
Total Assets4656007159451,1431,3891,7172,1692,7643,1873,5863,963

Financials of Tata Elxsi

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +143121144197215256437483487701812664
Cash from Investing Activity +-29-3128-245-16243-439-106-201-274-311-73
Cash from Financing Activity +-32-41-52-60-83-124-126-326-303-428-499-535
Net Cash Flow8349120-108-30175-12851-17-1257
Free Cash Flow11084118185184233399412423618796654
CFO/OP103%79%88%90%86%100%107%90%70%92%106%105%

Financials of Tata Elxsi

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days66737281818998991131009586
Inventory Days06821200
Days Payable205212244202162
Cash Conversion Cycle66737281-117-11698-143-88-609586
Working Capital Days102654596972534775726553
ROCE %60%71%56%57%51%35%40%48%48%43%36%30%

Guidance history

How Tata Elxsi's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q2 FY27 call →10–20%Up 0–2%——Flat
Q1 FY27 call →0–10%FlatPlanned——
Q4 FY26 call →0–10%Up 0–2%———
Q3 FY26 call →10–20%Up 0–2%——Rising

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

19out of 100

Momentum score · price trend

19 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−30.6%21%
Last 6 months−9.5%39%
Last 3 months+0.6%69%

The price is 63% below its all-time high of ₹10,238.05 (12 Aug 2022). Stocks more than 20% below their peak have their score halved, so 38 became 19.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Tata Elxsi: 0.4 × 21 + 0.4 × 39 + 0.2 × 69 = 38, halved to 19 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 2 Nov 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What Tata Elxsi's management said in earlier quarters

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