India's Tata Elxsi falls after Q4 results fail to impress

Tata Elxsi

22/04/2026 05:03

** 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;))