Tata Elxsi delivers 13% revenue growth in FY24; EBITDA margin at 29.5%
Declares 700% dividend (
Full year PBT crosses
Growth led by Transportation at 24.6% year on year
Highlights of the Year Ended 31st
- Revenues from operations at Rs. 3,552.1 Cr, + 13.0% YoY
- EBITDA Margin at 29.5%, PBT margin at 28.5%
- Profit before Tax (PBT) grows 11.9% to
Rs. 1048.7 Cr - Software Development and Services (SDS) grew by 9.3% YoY, in constant currency.
- System Integration & Support (SIS) grew by 18.6% YoY, in constant currency.
Highlights of the Quarter Ended
- Revenues from operations at Rs. 905.9 Cr, - 0.9% QoQ, + 8.1% YoY
- Operating revenue growth -0.6% QoQ and +7.2% YoY on constant currency basis
- EBITDA Margin at 28.8%; PBT at 27.9%
- Profit Before Tax (PBT) at
Rs. 262.4 Cr, +4.9% YoY
Industry Highlights for the Year Ended
- Transportation continues to grow strongly, registering a revenue growth of 24.6% YoY, supported by deal wins in Electric, Software Defined Vehicles and OEMs
- Healthcare delivered sustained growth of 10.8% YoY
-
Media and Communications grew 0.2% YoY in a challenging business environment for this industry
Dividend related announcement:
The Board of Directors have recommended a final dividend of 700% (
Mr.
"Financial year 2024 has been a year of consistent operational performance with a revenue growth of 13% despite global macroeconomic uncertainties, and volatility in the media and communications industry over the last few quarters. We have done well to maintain industry leading EBITDA margin at 29.5% for the year, even while we continued to invest in expanding our talent base through all four quarters, with a net addition of 1535 Elxsians through the year.
We had laid down a strategy of integrating our design business deeply with our key industry verticals, complementing our software and digital business with a design-led proposition. This is now complete, with a seamless end-to-end proposition from ideation to market introduction. This is enhancing our competitive differentiation, providing early visibility into customer product roadmaps, and creating larger downstream development deals. Starting with this quarter, we are reporting this integrated view of design-digital in all three verticals, under the Software and Design Services segment (SDS).
During the financial year, our transportation business grew strongly at 24.6% YoY, and now accounts for 49.9% of our overall SDS revenues. OEMs now constitute over 56% of the transportation business, and we are now embedded into the SDV programs of 5 global OEMs. I am especially delighted with the SDV program with a global OEM we won this quarter, and the German Design Award 2024 for our work on automotive HMI, which demonstrates the world-class design-led proposition we offer to customers.
The Healthcare & Lifesciences business registered a growth of 10.8% YoY. We have established a strong foundation for continued growth, with the addition of 5 marquee customer logos in the year and expanded capabilities and platforms in new growth areas such as digital therapeutics and connected health.
Our
Our Systems Integration and Support (SIS) Business is pivoting to value-added services, innovation-led projects such as experience centres, and supporting downstream deployment and run management for our products and platforms. While Q4 revenues and growth was impacted by hardware shipment delays due to the
We are transforming our customer base across industries, with a significant shift towards OEMs in the automotive industry, and operators in the media and telecom industry, while we continue to invest in deepening our key customer relationships. This is reflected in the strong growth in our Top 10 and Top 25 customers across the company.
We are continuing to invest ahead in building our talent pipeline, and are expanding our presence across locations in
Even as we step into the new financial year, we are pleased to announce two new members to the board. Mr.
I am pleased with our overall performance and resilience in revenues, margins, and customer additions through the year, in a volatile macroeconomic environment.
We are entering the new financial year with a commitment for growth, and the continued confidence in our differentiated design-led engineering capabilities. This is backed by strategic relationships we have built over years with key customers, the qualitative change in revenues towards OEMs and SDV programs, entries into new operators and marquee healthcare logos, investments in strategic technology areas and AI, and the strong deal pipeline we carry into the new financial year."
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