BackMultibagger stock Tata Elxsi, which has given 840% return in 5 years, jumps after Q1 results
Tata group's flagship company has started FY23 on a strong note with 6.5% QoQ revenue growth in constant currency
PremiumMultibagger stock: After announcement of strong Q1 results on Thursday, IT major Tata Elxsi share price has ascended in early morning deals on Friday session. Tata Elxsi share price today opened near ₹140 per share upside and went on to hit intraday high of ₹8037.75 apiece levels on NSE, logging around 3 per cent rise from its Thursday close price of around ₹7,800 per equity share.
Tata Elxsi announced strong Q1 earning as the IT major reported ₹725.9 crore revenue from operations, logging QoQ growth of 6.5 per cent and YoY growth of 30 per cent. Profits After Tax (PAT) of the company grew 15.4 per cent QoQ and 62.9 per cent YoY to ₹184.7 crore. The company’s growth was primarily volume led, with all three segments of EPD, IDV and SIS showing robust growth of 6.2 per cent, 6.6 per cent and 19.8 per cent QoQ respectively.
Speaking on the strong Q1FY23 numbers, Manoj Raghavan, CEO and Managing Director at Tata Elxsi said, "“We are starting FY23 on a strong note with 6.5 per cent QoQ revenue growth in constant currency. This was all volume-led and supported by robust growth across divisions, verticals and key markets. We continue to maintain and expand our margins with our EBITDA growing at 58.8 per cent YoY and PAT growing at 62.9 per cent YoY."
"I am delighted that the Tata Elxsi family is now over 10,000 people strong. We added 771 employees on a net basis in the quarter, more than doubling from the previous quarter. This has been aided by concerted efforts in reinforcing our employer brand proposition and employee engagement that have helped reduce," he added.
Key highlights of Tata Elxsi Q1 results for FY23:
1] Revenues from operations at Rs. 725.9 Cr, + 6.5% QoQ, + 30.0% YoY;
2] EBITDA grows 7.6% QoQ and 58.8% YoY to 238.2 Cr;
3] Industry-leading EBITDA Margin at 32.8%;
4] Profit after tax at Rs. 184.7 Cr, growing 15.4% QoQ and 62.9% YoY;
5] EPS grows 15.5% QoQ and 62.9% YoY to Rs. 29.66; and
6] Crosses 10,000 employee mark with 771 net additions in the quarter.
Tata Elxsi share price history
This Tata group stock is one of the multibagger stocks that Indian stock market has produced in last few years. In YTD time, Tata Elxsi share price has delivered 35 per cent return to its shareholders where majority of the IT stocks have delivered zero return to its positional investors. In last one year, this IT stock has generated more than 75 per cent return whereas in last 5 years, it has given 840 per cent return to its shareholders.
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