Tata Elxsi at new high

Tata Elxsi, which had closed yesterday at Rs.2077.10, opened today with a gap at Rs.2178 and went on to hit a new high at Rs.2299.90. Volumes have jumped up over three times.

The company posted excellent numbers for Q2FY21 with a 11% (QoQ) rise in revenue at Rs.477 crore and PAT coming in at Rs.105 crore, up 33%.

EBIT was up 24% at Rs.133 crore. Operating margin came in at 30.1% v/s 27.4% (QoQ).

Its Embedded Product Design (EPD), the company’s largest division, grew by 9.3% QoQ, 14.5% YoY and  Industrial Design and Visualization (IDV) grew by 27.5% QoQ, 7.1% YoY. On the other hand, System Integration and Support (SIS) unit saw a drop of 10% QoQ but growth of 7.5% YoY.

Employee count stands at 6816 and , attrition was stable at 6%, status quo QoQ.