TATAELXSI

April 27 (Reuters) - Tata Elxsi Ltd TTEX.NS:

• TATA ELXSI LTD - RESIGNATION OF GAURAV BAJAJ FROM POSITION OF CHIEF FINANCIAL OFFICER

• TATA ELXSI LTD - APPOINTMENT OF NALIN RANA AS CHIEF FINANCIAL OFFICER

Source text: ID:nnAZN4SSSID

Further company coverage: TTEX.NS

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** Engineering research and development firm Tata Elxsi TTEX.NS falls 3.3% to 4,499 rupees

** Posts a 27.8% rise in Q4 profit, helped by growth in its transportation and media units

** Profit rose to 2.20 billion rupees ($23.53 million), beating estimates of 1.86 billion rupees - LSEG

** However, revenue came in a notch below estimates

** Co toned down growth expectations from its transport segment for FY27

** Ambit Capital cuts PT to 3,960 rupees from 4,010 rupees, toning down revenue and margin expectations, with minor cuts to full-year profit estimates

** notes TTEX sees some recovery across segments as the broader macroeconomic environment sees stabilization but operating margins still below peak

** JPMorgan says there could be short-term pain in auto from the West Asia conflict

** The stock trades at a forward 12-month price-to-earnings ratio of 34.72, below 19.51 industry average, per LSEG, with Ambit noting that co remains the most expensive in the ER&D space

** YTD, stock down 12.4%

(Reporting by Pranav Kashyap in Bengaluru)

((pranav.kashyap@tr.com; +919886482111;))

BENGALURU, April 21 (Reuters) - Indian engineering research and development firm Tata Elxsi TTEX.NS posted a 27.8% rise in quarterly profit on Tuesday, snapping a five-quarter streak of declines, helped by growth in its transportation and media units.

• Profit rose to 2.20 billion rupees ($23.53 million) for the fourth quarter ended March 31, from 1.72 billion rupees a year ago.

• Analysts, on average, expected a profit of 1.86 billion rupees, according to data compiled by LSEG.

• Tata Elxsi said large deal wins and strong customer additions across its core segments supported growth.

• Revenue from transportation, its largest segment, rose 7% on-year in constant currency, helped by multi-year deals.

• Revenue from media and communications segment grew 2.3% on-year.

• Overall revenue rose 9.4% to 9.94 billion rupees, slightly below analysts' estimate of 10 billion rupees.

• The company also declared a dividend of 75 rupees per share.

($1 = 93.5000 Indian rupees)

(Reporting by Haripriya Suresh and Bipasha Dey in Bengaluru; Editing by Janane Venkatraman)

((Bipasha.Dey@thomsonreuters.com;))

** Shares of Tata Elxsi TTEX.NS rise 4.8% to 4,234.10 rupees

** Design and technology service provider launches global offshore development centre to support Terumo Corp's 4543.T cardiac and vascular solutions

** Trading volume at more than 2x the 30-day average

** TTEX down about 19% YTD

(Reporting by Vijay Malkar)

((VijayDattaram.Malkar@thomsonreuters.com;))

March 19 (Reuters) - Tata Elxsi Ltd TTEX.NS:

• TATA ELXSI ANNOUNCES THE LAUNCH OF A GLOBAL OFFSHORE DEVELOPMENT CENTER (ODC) FOR TERUMO CORPORATION

Source text: ID:nPreb8sdGa

Further company coverage: TTEX.NS

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March 6 (Reuters) - Tata Elxsi Ltd TTEX.NS:

• GETS ORDER WITH TOTAL TAX DEMAND OF 17.9 MILLION RUPEES

Source text: ID:nBSE38brJp

Further company coverage: TTEX.NS

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March 5 (Reuters) - Tata Elxsi Ltd TTEX.NS:

• LAUNCHES DEVSTUDIO.AI, A MULTI-AGENT, ASPICE-ALIGNED GENAI PLATFORM

Further company coverage: TTEX.NS

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** Shares of Tata Elxsi TTEX.NS down about 2% to 5,685 rupees

** Engineering research and development co's Q3 profit dropped 45% to $12 mln, as a one-time charge tied to increased employee benefit provisions outweighed a 1.5% rev rise

** Revenue uptick concentrated among a small set of accounts; stock expensive in our view - Kotak Equities ("sell", TP 4,200 rupees)

** Stock, on average, rated"sell" by 14 analysts; median TP 4720 rupees - data compiled by LSEG

** Stock fell about 23% in 2025

(Reporting by Hritam Mukherjee in Bengaluru)

((Hritam.Mukherjee@thomsonreuters.com;))

Jan 13 (Reuters) - Indian engineering research and development (ER&D) firm Tata Elxsi TTEX.NS reported a 45.3% drop in third-quarter profit on Tuesday, primarily due to a one-time charge tied to the country's new labour codes.

The Bengaluru-based company reported a profit of 1.09 billion rupees ($12.1 million) for the quarter ended December 31.

Tata Elxsi took an exceptional charge of 956.9 million rupees for the reported quarter, citing a one-time increase in employee benefit provisions following India's new labour codes.

The codes, which came into effect in November, require employee wages to be at least 50% of cost to company, and benefits like provident fund and gratuity to be determined based on wages.

On Monday, IT companies TCS TCS.NS and HCLTech HCLT.NS also reported one-time charges of 21.3 billion rupees and 9.6 billion rupees, respectively, to factor in the new labour codes.

However, Tata Elxsi's third-quarter revenue grew 1.5% year over year to 9.53 billion rupees driven by growth in its software development and services segment.

Excluding the exceptional item and taxes, the firm reported a profit of 2.42 billion rupees for the third-quarter, a 5.4% decline from the same quarter last year.

Shares of the company closed 1.6% higher ahead of results.

($1 = 90.2010 Indian rupees)

(Reporting by Mridula Kumar, Nandan Mandayam and Aleef Jahan in Bengaluru; Editing by Harikrishnan Nair)

((mridula.kumar@thomsonreuters.com))

Corrects bullet 6 to say J.P. Morgan's price target for KPIT Technologies is 1,400 rupees, not 4,800 rupees

** Shares of Indian software engineering firms Tata Technologies TATE.NS and Tata Elxsi TTEX.NS jump 4% and 8%, respectively

** J.P.Morgan upgrades both stocks to "Neutral" from "underweight" as automaker clients resume R&D programs after trade deals ease tariff uncertainties

** Work on projects won in 2025 to ramp up this year, brokerage says, with Europe, APAC clients leading demand recovery

** Auto investments focused on hybrids, brokerage notes, with EVs set to recover in the medium term

** As demand recovers, brokerage lifts PT on TATE to 710 rupees from 570 rupees; TTEX's PT raised to 4,800 rupees from 4,000 rupees

** However, KPIT Technologies KPIE.NS ("Overweight," PT: 1,400 rupees) remains JPM's top pick in sector; currently up 4.3%

** TTEX, TATE had underperformed Nifty IT .NIFTYIT index in 2025 on demand worries

** In 2025, TATE dropped 28%, TTEX was down 23% and KPIE fell 20% vs IT index's 13% fall

(Reporting by Nandan Mandayam in Bengaluru)

((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))

** Shares of Tata Elxsi TTEX.NS fall 2.4% to 5,440 rupees

** Engineering research and development firm's Q2 profit fell 32.5% Y/Y to 1.55 bln rupees ($17.5 mln), revenue down 3.9% Y/Y

** Ambit raises PT to 4,230 rupees from 4,190 rupees; rates it "sell"

** Brokerage cites healthcare segment growth on multi-year deal with Bayer BAYGn.DE

** Trading volume more than 2x 30-day avg at 413,865 shares so far

** Average rating on stock by 14 analysts is "strong sell", mean PT of 4,578.46 rupees - data compiled by LSEG

** YTD, TTEX down about 20% vs Nifty 500 index's .NIFTY500 more than 4% gain

($1 = 88.7750 Indian rupees)

(Reporting by Vijay Malkar)

((VijayDattaram.Malkar@thomsonreuters.com;))

Oct 9 (Reuters) - Tata Elxsi Ltd TTEX.NS:

• TATA ELXSI Q2 NET PROFIT 1.55 BILLION RUPEES

• TATA ELXSI Q2 REVENUE FROM OPERATIONS 9.18 BILLION RUPEES

Source text: [ID:]

Further company coverage: TTEX.NS

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Sept 10 (Reuters) - Tata Elxsi Ltd TTEX.NS:

• TATA ELXSI LTD - LAUNCHES GLOBAL TECH CENTRE FOR BAYER IN RADIOLOGY

• TATA ELXSI LTD - LAUNCHES GLOBAL TECH CENTRE FOR BAYER IN RADIOLOGY

Source text: ID:nBSE8vbNH1

Further company coverage: TTEX.NS

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July 11 (Reuters) - Tata Elxsi Ltd TTEX.NS:

• TATA ELXSI AND SYNOPSYS COLLABORATE

• COLLABORATION FOR ADVANCED AUTOMOTIVE VIRTUALIZATION SOLUTIONS

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Further company coverage: TTEX.NS

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June 19 (Reuters) - INFINEON TECHNOLOGIES AG IFXGn.DE:

• TATA ELXSI AND INFINEON PARTNER TO ACCELERATE EV INNOVATION IN INDIA

• TATA ELXSI AND INFINEON WILL WORK CLOSELY TO DEVELOP HIGH-VOLTAGE INVERTERS FOR TRACTION AND AUXILIARY SYSTEMS, SCALABLE BATTERY MANAGEMENT SYSTEMS (BMS), BI-DIRECTIONAL ONBOARD CHARGERS, AND HIGH-VOLTAGE THERMAL MANAGEMENT SOLUTIONS FOR INDIAN MARKET.

Source text: ID:nPrez74Zqa

Further company coverage: [IFXGn.DE]

(Gdansk Newsroom)

((gdansk.newsroom@thomsonreuters.com; +48 58 7696600;))

** Tata Elxsi TTEX.NS rises ~2%

** Software co says it has collaborated with an Indian unit of Mercedes-Benz MBGn.DE for vehicle engineering, development

** Co did not disclose any financial details

** YTD, TTEX falls 10.4%

(Reporting by Hritam Mukherjee in Bengaluru)

((Hritam.Mukherjee@thomsonreuters.com;))

April 21 - ** Shares of IT services provider Tata Elxsi Ltd TTEX.NS up 8.75% to 5325 rupees

** Co misses Q4 revenue and profit estimates but reports having won two large deals worth $100 mln and $56.9 mln

** "We expect these deals to help drive a return to growth over the next couple of quarters," says JP Morgan

** Stock set for biggest one day pct gain in nearly 8 months

** With session's gains, shares trim 12-month decline to ~29%

(Reporting by Ananta Agarwal in Bengaluru)

((Ananta.Agarwal@thomsonreuters.com))

April 17 (Reuters) - Tata Elxsi Ltd TTEX.NS:

• AUTOMOTIVE BUSINESS WITNESSED CHALLENGES IN FOURTH QUARTER

• SAW DELAYS IN RAMP-UPS PLANNED FOR ONGOING DEALS WON IN THE PREVIOUS QUARTERS

• SUPPLIERS PAUSED NEW PROGRAM STARTS IN FACE OF GEOPOLITICAL, BUSINESS, MARKET UNCERTAINTIES

• MEDIA AND COMMUNICATIONS BUSINESS SAW SOME CUSTOMER SPECIFIC ISSUES IN Q4

• 50 MILLION EURO MULTI-YEAR DEAL WITH EUROPEAN AUTOMOTIVE CO WILL RAMP UP STARTING APRIL

• GOT STRATEGIC MULTI-YEAR PRODUCT ENGINEERING CONSOLIDATION DEAL OF OVER $100 MILLION

Source text: ID:nBSE1z7VdX

Further company coverage: TTEX.NS

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Feb 12 (Reuters) - Tata Elxsi Ltd TTEX.NS:

• TATA ELXSI AND GARUDA AEROSPACE SIGN MOU

• PARTNERSHIP TO DEVELOP INDIGENOUS UAV SYSTEMS FOR MULTIPLE APPLICATIONS

Source text: ID:nBSE7kShCC

Further company coverage: TTEX.NS

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Feb 5 (Reuters) - Tata Elxsi Ltd TTEX.NS:

• TATA ELXSI - GETS TAX ORDER WITH PENALTY OF 4.3 MILLION RUPEES

Source text: ID:nNSE5SXsy8

Further company coverage: TTEX.NS

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Jan 23 (Reuters) - Indian engineering and technology firm Cyient CYIE.NS reported a third-quarter profit below analysts' expectations on Thursday, hurt by slower growth in its biggest segment and higher costs.

Its profit declined to 1.22 billion rupees ($14.12 million) for the three months ended Dec. 31, from 1.47 billion rupees a year ago. Analysts had expected 1.71 billion rupees, according to data compiled by LSEG.

Growth in Cyient's transportation division — which contributes 30% to the company's biggest unit, digital, engineering and technology — has eased over the past few quarters due to delays in project starts in the aerospace segment and slowdown in the rail segment.

The downbeat results also echo those of peer engineering, research and design companies (ER&D) Tata Elxsi TTEX.NS and L&T Technology Services LTEH.NS.

ER&D services, which include providing technology support to industries such as aerospace, telecom and automotive, contribute a sixth of the revenue to India's $254-billion technology sector.

Cyient's total expenses rose 9% during the quarter, led by a 26% jump in its cost of materials consumed and a 6% rise in employee expenses.

Revenue from the company's digital, engineering and technology segment, which contributes more than 76% to its total revenue — fell 1%.

Its smaller design-led manufacturing business, Cyient DLM CYIT.NS, posted a 38% rise in revenue.

Cyient's total revenue rose 5.7% to 19.26 billion rupees, beating analysts' estimates.

($1 = 86.4040 Indian rupees)

(Reporting by Aleef Jahan)

((aleefjahan.cs@thomsonreuters.com))

Jan 21 (Reuters) - Tata Elxsi Ltd TTEX.NS:

• TATA ELXSI AND MINESPIDER PARTNER TO LAUNCH MOBIUS+

• MOBIUS+ IS ADVANCED BATTERY LIFECYCLE MANAGEMENT PLATFORM

Source text: [ID:]

Further company coverage: TTEX.NS

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** Shares of Tata Elxsi TTEX.NS fall 7.6% to 5,950.00 rupees, set to fall for third straight session

** Engineering and technology services firm's Q3 revenue up 2.7% y/y at 9.39 bln rupees ($109.36 mln), misses analysts' estimate of 9.69 bln rupees

** Q3 net profit was in line with analysts' expectations, fell 3.6% y/y to 1.99 bln rupees

** Trading vols at 501,279 shares, 2.3x 30-day average

** Relative strength index falls to 19.4, suggesting that stock might be oversold - LSEG

** TTEX fell 22.4% in 2024 vs 39.3% gains in 2023

($1 = 85.8640 Indian rupees)

(Reporting by Vijay Malkar)

((VijayDattaram.Malkar@thomsonreuters.com;))

Jan 9 (Reuters) - Tata Elxsi Ltd TTEX.NS:

• TATA ELXSI Q3 NET PROFIT 1.99 BILLION RUPEES; IBES EST. 2 BILLION RUPEES

• TATA ELXSI Q3 REVENUE FROM OPERATIONS 9.39 BILLION RUPEES; IBES EST. 9.69 BILLION RUPEES

Source text: [ID:]

Further company coverage: TTEX.NS

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Jan 7 (Reuters) - Tata Elxsi Ltd TTEX.NS:

• CO, NATIONAL AEROSPACE LABORATORIES SIGN STRATEGIC PARTNERSHIP FOR ADVANCED AIR MOBILITY

Source text: ID:nBSE3hMJq4

Further company coverage: TTEX.NS

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Nov 18 (Reuters) - Singha Estate PCL S.BK:

• TATA ELXSI LTD - SUZUKI AND TATA ELXSI INAUGURATE OFFSHORE DEVELOPMENT CENTER IN PUNE

Source text: ID:nBSE4Fbd64

Further company coverage: S.BK

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Oct 16 (Reuters) - Indian engineering and technology services firm L&T Technology Services LTEH.NS on Wednesday reported second-quarter revenue that edged past estimates, boosted by large deals signed in the previous quarters, and maintained its full-year revenue forecast.

The company's revenue rose 7.8% to 25.73 billion rupees ($306.34 million) for the quarter ended Sept. 30. Analysts had expected 25.67 billion rupees, according to data compiled by LSEG.

The Larsen and Toubro LART.NS group firm reaffirmed its full-year 2025 revenue growth forecast of 8-10% .

Net profit rose 1.3% to 3.2 billion rupees in the quarter, lower than analysts' estimate of 3.33 billion rupees.

Shares of the company closed 0.7% higher, ahead of the results.

KEY CONTEXT

Engineering, research, and design (ER&D) services, which include technology support to industries such as automotive and communications, contribute a sixth of the revenue to India's $254 billion technology sector.

Companies such as L&T Technology Services and peer Tata Elxsi TTEX.NS are likely to benefit from growth in the ER&D sector, which, according to the National Association of Software and Service Companies, is expected to quadruple to as much as $170 billion between 2023 and 2030.

L&T Technology has bagged large deals from auto parts maker Forvia FRVIA.PA and energy giant Shell SHEL.L in the last few quarters, aiding its revenue growth.

Last week, Tata Elxsi reported an increase in its second-quarter profit, with revenue in line with street expectations, fuelled by healthy demand in its transportation unit.

PEER COMPARISON

* Mean of analysts' ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell

** Ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT

JULY-SEPTEMBER STOCK PERFORMANCE

-- All data from LSEG

($1 = 83.9920 Indian rupees)

(Reporting by Sai Ishwarbharath B; Editing by Abinaya Vijayaraghavan)

((saiishwarbharath.b@thomsonreuters.com;))

** Shares of Tata Elxsi TTEX.NS rise as much as 2.9% at 7,985 rupees; stock currently up 0.5%

** Design tech services co's Q2 profit rose 14.7% y/y, beating analysts' estimates, helped by healthy demand in its transportation division
** Rev rose 8.3% to 9.55 bln rupees ($113.7 mln)

** Stock eyes fourth straight session of gains

** Analysts, on avg, rate TTEX "sell"; median PT 6,600 rupees - LSEG data

** Stock down ~10% YTD, while IT index .NIFTYIT is up ~19%

($1 = 83.9720 Indian rupees)

(Reporting by Yagnoseni Das in Bengaluru)

((Yagnoseni.Das@thomsonreuters.com;))

Oct 10 (Reuters) - Tata Elxsi Ltd TTEX.NS:

• Q2 NET PROFIT 2.29 BILLION RUPEES; IBES EST 2.05 BILLION RUPEES

• Q2 REVENUE FROM OPERATIONS 9.55 BILLION RUPEES; IBES EST 9.56 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: TTEX.NS

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