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Swing Capital

Tata Elxsi Ltd

NSE: TATAELXSI BSE: 500408IT / Software

Tata Elxsi is amongst the world’s leading providers of design and technology services across industries including Automotive, Media, Communications and Healthcare. Tata Elxsi provides integrated services from research and strategy, to electronics and mechanical design, software development, validation and deployment, and is supported by a network of design studios, global development centers and offices worldwide. [1]

₹4,155
52W: ₹3945 — ₹6735
PE 37.2 · Book ₹488 · +751% vs book
Market Cap₹25,884 Cr
Stock P/E37.2Price to Earnings
ROCE29.9%Return on Capital
ROE23.6%Return on Equity
Div. Yield1.83%Face Value ₹10

Strengths

  • +Company is almost debt free.
  • +Company has a good return on equity (ROE) track record: 3 Years ROE 28.7%
  • +Company has been maintaining a healthy dividend payout of 63.0%

Weaknesses

  • −Stock is trading at 8.43 times its book value

Shareholding Pattern

Promoters43.9%
FIIs11.08%
DIIs11.39%
Public33.62%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters43.92%43.91%▼0.043.91%43.91%43.91%43.9%▼0.043.9%43.9%
FIIs13.67%13.65%▼0.013.27%▼0.412.73%▼0.512.74%▲0.012.53%▼0.28.56%▼4.011.08%▲2.5
DIIs6.24%7.38%▲1.17.5%▲0.18.54%▲1.09.79%▲1.310.37%▲0.612.28%▲1.911.39%▼0.9
Public36.16%35.04%▼1.135.3%▲0.334.82%▼0.533.54%▼1.333.18%▼0.435.24%▲2.133.62%▼1.6

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales914906926955939908892918953994
Expenses644645674689693701705725731749
Operating Profit270261252266247208187193222245
OPM %30%29%27%28%26%23%21%21%23%25%
Net Profit206197184229199172144155109220
EPS ₹33.1531.6229.5636.8431.9527.6823.1824.8517.4835.37

AI Insights

Revenue Trend

Mar 2026 revenue at ₹3,757Cr, up 0.8% YoY. OPM at 23%.

Debt Position

Borrowings at ₹162Cr. Debt-to-equity ratio: 0.05x. Healthy balance sheet.

Institutional Flow

DIIs: 11.39% (+7.31pp change). FIIs: 11.08% (-3.14pp change). Promoters hold 43.9%.

Margin & Efficiency

ROCE declining from 60% (Mar 2015) to 30% (Mar 2026). Working capital days: 53.

Valuation

PE 37.2x with 29.9% ROCE. Price is 751% above book value of ₹488. Dividend yield: 1.83%.

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