Tata Elxsi up 5%

Tata Elxsi is basking in the glory of its Q4FY22 earnings. The stock made a grand opening at Rs.7990, up 2.5% and rose to an intraday high at Rs.8190.95, up 5% on the back on doubling up volumes.

The company did well, with net profit for the quarter rising 6% (QoQ) and 39% (YoY) at Rs.160 crore. This was on a 7% (QoQ) rise in revenue at Rs.682 crore.

EBIT was up 4% at Rs.205 crore while EBIT margin was at 30.1% v/s 31% - the market is celebrating the fact that the margin did not decline much given the rising costs.

Its Embedded Product Design (EPD), the company’s largest division, grew by 7.5% (QOQ) while Industrial Design and Visualization (IDV) grew by 8%. Its SIS segment though degrew by 4%.

Its total employee count is currently at 9376 and attrition has gone up from 18.2% to 20.8%. (QoQ).