Tata Elxsi Share Price Hits 52-Week Low at ₹6,375 on November 14, 2024

Tata Elxsi, a prominent player in the technology sector, is currently in the spotlight as its share price experienced a slight decline on Thursday. 

On November 14, 2024, Tata Elxsi share price opened at ₹6,445.30, slightly up from its previous close of ₹6,417.30. However, at 11:41 AM, the share price of Tata Elxsi was trading at ₹6,399.50, down by 0.28%.

Notably, the share price of Tata Elxsi touched a new 52-week low at ₹6,375.00 on Thursday. This marks a significant decline from its monthly high of ₹7,390.00, reached on November 7, 2024.

Recent Financial Performance

For the second quarter of the financial year 2024-25, Tata Elxsi reported operating revenue of ₹955.1 crore, reflecting a 3.1% quarter-on-quarter (QoQ) growth. The company achieved an operating (EBITDA) margin of 27.9%, marking a 70 basis points (bps) increase in QoQ. 

Profit Before Tax (PBT) stood at ₹298.7 crore, up 18.3% QoQ, while Profit After Tax (PAT) reached ₹229.4 crore, reflecting a 24.6% QoQ growth. 

Notably, the transportation segment showed strong performance, growing by 8.8% QoQ, driven by large deals and growth in the Software-Defined Vehicles (SDV) and Original Equipment Manufacturer (OEM) business.

The company also secured a landmark US$ 50 million multi-year deal from a global OEM headquartered in Europe, which encompasses SDV and multiple domains of automotive engineering. The company stated that this strategic engagement will enable SDV platform development and the next generation of mobility for this world-leading brand.

Ownership Structure

As of September 30, 2024, the promoters of Tata Elxsi held a 43.91% stake in the company, while public shareholding is 56.09%. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.