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Tata Group design and technology-services company building embedded software for automotive ADAS, media and healthcare devices.
Tata Group design and technology-services company building embedded software for automotive ADAS, media and healthcare devices.
Bills for engineers' time and for fixed-price projects, with most of the work done from Indian centres for clients mainly in Europe and North America. Transportation, led by automotive, is its largest segment, followed by media and healthcare. Tata Power is the largest shareholder.
In one line: India's smaller embedded design-services peer to Wind River.
Moat: narrow (process know-how, IP / patents). Deep embedded-systems engineering expertise built serving automotive and media technology clients globally.
Headquarters: Bengaluru, India · Founded: 1989 · Employees: 11,984
Size Tata Elxsi (TATAELXSI.NS) is an India Information Technology company (Information Technology Services) with a market value of $2.52B, the 321st largest of 1,058 India companies the cockpit tracks. Shares closed at ₹3,855 on 6 Nov 2026.
Performance Over six months the shares fell 10.3%, against -10.4% for the median peer and 0.0% for the India market (cap-weighted) — 11th highest of 21 in its peer set.
Growth Revenue grew 10.0% over the last twelve months (peer median +9.5%); the operating margin is 20.4% (peer median 7.3%).
Valuation It trades at 32.7× forward earnings against a peer median of 28.0× (8th most expensive of 19).
Price implies For today's price to make sense, revenue must grow about 25% a year for seven years (Req g). Recent delivered growth is +16%, so the hurdle is +10 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 28.4 points above its cost of capital (14.3% WACC).
Next results Next results expected around 13 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹40.2B | ₹37.6B | ₹37.3B | ₹35.5B | ₹31.4B |
| Revenue growth | — | +1% | +5% | +13% | — |
| Gross profit | ₹13.1B | ₹9.86B | ₹11.2B | ₹11.5B | ₹10.6B |
| EBITDA | ₹9.14B | ₹8.69B | ₹10.1B | ₹10.6B | ₹9.71B |
| Net income | ₹6.70B | ₹6.28B | ₹7.85B | ₹7.92B | ₹7.55B |
| Free cash flow | n/a | ₹7.77B | ₹8.76B | ₹7.05B | ₹4.54B |
| Capital expenditure | n/a | ₹107M | ₹163M | ₹830M | ₹641M |
| Total debt | ₹1.43B | ₹1.62B | ₹1.92B | ₹2.24B | ₹1.82B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Tata Elxsi TATAELXSI.NS | $2.52B | -10% | +10% | 20% | 32.7× | 25.3% |
| L&T Technology Services LTTS.NS | $4.79B | +13% | +2% | 15% | 29.4× | 31.0% |
| KPIT Technologies KPITTECH.NS | $1.57B | -25% | +9% | 14% | 26.3× | 14.8% |
| Wipro WIPRO.NS | $20.7B | 0% | +8% | 16% | 14.9× | 9.0% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | TATAELXSI.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +25.1% | -2.9% | 4th highest of 21 |
| 6-month return | -10.3% | -10.4% | 11th highest of 21 |
| Distance from 52-week high | -35.2% | -35.6% | 11th highest of 21 |
| Revenue growth (TTM) | +10.0% | +9.5% | 10th highest of 21 |
| Operating margin | 20.4% | 7.3% | 4th highest of 21 |
| Forward P/E | 32.7× | 28.0× | 8th most expensive of 19 |
| Growth the price implies (Req g, 7 yrs) | 25.3% | 16.9% | 6th most demanding of 14 |
| Growth delivered (Del g) | +15.5% | +8.8% | 4th highest of 14 |
| Hurdle (Req g minus delivered) | +9.8 pp | +3.3 pp | 6th most demanding of 14 |
| ROIC minus cost of capital | +28.4 pp | +3.3 pp | highest of 19 |
| EV / EBITDA | 24.5× | 11.7× | 3rd most expensive of 9 |
| Net debt / EBITDA | -1.6× | 1.2× | 3rd least indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Tata Elxsi TATAELXSI.NS | India | $2.52B | -10% | +10% | 20% | 32.7× | 25.3% | +15.5% |
| Fastly FSLY | United States | $2.52B | -23% | +20% | -12% | 24.4× | 37.8% | +16.5% |
| Hangzhou Turbine Power 300277.SZ | China | $2.57B | -37% | +1,784% | 3% | 33.2× | 36.4% | -10.7% |
| Netcompany Group A/S NETC.CO | Denmark | $2.44B | +1% | +30% | 11% | 20.4× | n/a | n/a |
| Beijing Ultrapower Software 300002.SZ | China | $2.43B | -14% | +9% | 15% | 20.4× | 4.2% | +10.2% |
| OVH Groupe OVH.PA | France | $2.41B | +17% | +6% | 38% | 46.6× | n/a | n/a |
| HMS Networks HMS.ST | Sweden | $2.41B | -17% | +15% | 27% | 31.9× | 14.3% | +19.5% |
| Shanghai AtHub 603881.SS | China | $2.66B | -33% | -5% | 16% | 101.4× | 16.9% | +13.6% |
| Shanghai Sunmi Technology 6810.HK | Hong Kong | $2.70B | -10% | +10% | 7% | n/a | n/a | n/a |
| Runjian 002929.SZ | China | $2.71B | +6% | -11% | 0% | 49.7× | n/a | n/a |
| Tieto TIETO.HE | Finland | $2.26B | -5% | -17% | 20% | 10.4× | -6.4% | -7.8% |
| Hand Enterprise Solutions 300170.SZ | China | $2.24B | -26% | +7% | 6% | 48.8× | 27.4% | +6.5% |
| Posco Dx 022100.KS | South Korea | $2.24B | -43% | -15% | 3% | 69.6× | 34.8% | +2.2% |
| Glodon 002410.SZ | China | $2.15B | -21% | -4% | 8% | 31.6× | 5.4% | +8.8% |
| Beijing Teamsun Technology 600410.SS | China | $2.09B | -42% | +19% | -9% | n/a | 26.0% | +3.6% |
| Globant GLOB | United States | $2.05B | +21% | -1% | 10% | 8.0× | -1.2% | +24.7% |
| PC Connection CNXN | United States | $2.00B | +19% | +10% | 4% | 16.6× | n/a | n/a |
| Atea ATEA.OL | Norway | $1.99B | +6% | +12% | 4% | 16.4× | -5.0% | -1.1% |
| Xi'an Bright Laser Technologies 688333.SS | China | $3.22B | -11% | +12% | 6% | 69.2× | n/a | n/a |
| GMO Internet 9449.T | Japan | $1.94B | -4% | +6% | 21% | 13.4× | n/a | n/a |
| Kainos KNOS.L | United Kingdom | $1.92B | +57% | +17% | 11% | 23.2× | 21.7% | +12.9% |