Shares of Tata Elxsi rose over 3 per cent ahead of firm’s Q2 earnings set to be announced today. Tata Elxsi stock gained 3.09 percent to Rs 8,570 against the previous close of Rs 8,313.10 on BSE. It has gained after three days of fall. Tata Elxsi shares are trading higher than 200 day moving averages but lower than 5 day, 20 day, 50 day and 100 day moving averages. The scrip has gained 9 per cent or Rs 702 since Q1 earnings were announced on April 20 this year. The stock closed at Rs 7,808 on April 20.
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The stock has risen 36.12 per cent in one year and gained 45.11 per cent since the beginning of this year. Total 0.13 lakh shares of the firm changed hands amounting to a turnover of Rs 11.04 crore on BSE. The market cap of the firm rose to Rs 52,984 crore on BSE. The stock hit its all-time high of Rs 10,760 on August 17, 2022 and a 52 week low of Rs 5,264.75 on November 29, 2021.
In the first quarter of this fiscal, the firm’s profit climbed 63 per cent to Rs 184.72 crore against Rs 113.38 crore in the corresponding quarter of previous fiscal.
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Net sales rose 30.1 per cent to Rs 725.89 crore in the June 2022 quarter against Rs 558.32 crore in June 2021. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) climbed 48.35 per cent to Rs 248.47 crore in the last quarter from Rs. 167.49 crore in the June 2021 quarter. Earnings per share (EPS) rose to Rs 29.66 in June 2022 quarter from Rs 18.21 in June 2021 quarter.
For the fiscal ended March 2022, Tata Elxsi’s net profit rose 49.3 per cent to Rs 549.67 crore from Rs 368.12 crore a year ago. Annual income from operations climbed 35 per cent to Rs 2,470.79 crore compared to Rs 1,826.15 crore in 2021-22.
The company’s board recommended a final dividend of Rs 42.50 per equity share of par value of Rs 10 each for the financial year ending March 31, 2022.
Tata Elxsi is among the leading providers of design and technology services across industries including automotive, broadcast, communications, healthcare and transportation. It is a subsidiary of Tata Sons.