Tata Elxsi Ltd

About

Tata Elxsi is amongst the world’s leading providers of design and technology services across industries including Automotive, Media, Communications and Healthcare. Tata Elxsi provides integrated services from research and strategy, to electronics and mechanical design, software development, validation and deployment, and is supported by a network of design studios, global development centers and offices worldwide. [1]

Key Points

Geographical Presence
The company is present across the world with Europe accounting for majority of revenues at 36.5%, followed by Americas (36%), India (13%) & rest of world contributing to rest 14.5% of revenues. [1]

See full details
  • Market Cap 38,985 Cr.
  • Current Price 6,260
  • High / Low 6,430 / 1,452
  • Stock P/E 382
  • Book Value 45.5
  • Dividend Yield 0.38 %
  • ROCE 60.0 %
  • ROE 39.3 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Company has a good return on equity (ROE) track record: 3 Years ROE 30.80%
  • Company has been maintaining a healthy dividend payout of 48.48%

Cons

  • Stock is trading at 137.55 times its book value
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2012 Sep 2012 Dec 2012 Mar 2013 Jun 2013 Sep 2013 Dec 2013 Mar 2014 Jun 2014 Sep 2014 Dec 2014 Mar 2015
146 155 157 163 173 190 200 212 191 206 221 231
133 135 140 141 160 158 157 165 153 164 171 184
Operating Profit 13 20 16 22 13 32 44 47 38 42 50 47
OPM % 9% 13% 11% 14% 8% 17% 22% 22% 20% 20% 23% 20%
Other Income -2 -10 4 -3 7 7 -1 0 2 1 0 -1
Interest 1 1 1 1 1 1 0 0 0 0 0 0
Depreciation 5 6 6 6 6 8 9 12 9 8 7 1
Profit before tax 5 3 13 13 14 30 33 35 31 35 43 45
Tax % 29% 37% 31% 36% 36% 34% 34% 38% 33% 33% 36% 34%
Net Profit 3 2 9 8 9 20 22 22 21 24 28 30
EPS in Rs 0.42 0.29 1.40 1.31 1.43 3.20 3.46 3.51 3.34 3.79 4.46 4.79

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015
402 419 388 416 539 622 775 849
327 338 320 368 464 549 637 671
Operating Profit 75 82 68 48 75 73 137 178
OPM % 19% 20% 18% 11% 14% 12% 18% 21%
Other Income 2 0 1 4 4 -11 12 3
Interest 2 4 2 2 3 5 3 1
Depreciation 13 16 17 17 21 24 35 26
Profit before tax 62 62 51 32 55 33 112 155
Tax % 14% 6% 4% -2% 30% 33% 36% 34%
Net Profit 53 58 49 33 35 21 72 102
EPS in Rs 8.48 9.34 7.84 5.22 5.55 3.42 11.60 16.38
Dividend Payout % 41% 37% 45% 67% 63% 73% 39% 34%
Compounded Sales Growth
10 Years:%
5 Years:17%
3 Years:16%
TTM:10%
Compounded Profit Growth
10 Years:%
5 Years:16%
3 Years:43%
TTM:41%
Stock Price CAGR
10 Years:51%
5 Years:56%
3 Years:85%
1 Year:315%
Return on Equity
10 Years:%
5 Years:26%
3 Years:31%
Last Year:39%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015
31 31 31 31 31 31 31 31
Reserves 88 121 144 151 161 164 205 252
Borrowings 55 13 34 25 34 59 0 0
84 77 87 94 108 112 153 182
Total Liabilities 259 242 296 302 335 365 388 466
99 97 90 91 100 99 97 98
CWIP 2 1 0 12 10 21 13 3
Investments 0 0 0 0 0 0 0 0
158 144 206 199 224 245 279 364
Total Assets 259 242 296 302 335 365 388 466

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015
14 80 14 71 62 38 129 143
-41 -14 -10 -29 -33 -30 -22 -29
28 -71 -6 -36 -23 -11 -79 -32
Net Cash Flow 1 -5 -2 7 6 -4 28 82

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015
Debtor Days 95 80 123 94 85 83 73 66
Inventory Days 2 1 9 0 0
Days Payable 400 549 670 379
Cash Conversion Cycle -303 80 -425 -566 -294 83 73 66
Working Capital Days 52 39 103 38 33 38 22 10
ROCE % 39% 28% 16% 27% 22% 47% 60%

Shareholding Pattern

Numbers in percentages

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
44.57 44.57 44.53 44.53 44.53 44.53 44.53 44.53 44.53 44.53 44.53 44.53
10.51 8.02 9.56 8.75 7.70 9.05 10.71 10.54 11.75 12.62 12.07 11.81
6.63 6.40 5.27 5.30 5.27 2.52 3.68 4.05 4.62 4.82 5.32 5.77
38.29 41.01 40.64 41.42 42.50 43.90 41.09 40.88 39.10 38.03 38.08 37.89

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