According to the Q3FY21 shareholding
pattern filed by Tata Elxsi, FPIs
have increased their holding in the company by 0.87 per cent to 12.62 per cent from 11.75 per cent at the end of September 2020 quarter (Q2FY21). FPIs
held 10.54 per cent stake in Tata Elxsi
as on June 30, 2020 (Q1FY20), shareholding
pattern data shows. They bought an additional 1.30 million equity shares of the company between July and December 2020.
Meanwhile, Tata Elxsi
last week reported strong Q3FY21 results with double-digit quarter on quarter (QoQ) revenue growth and industry-leading operating margins. The company’s revenues increased by 10.9 per cent QoQ to Rs 477 crore. In constant currency terms, revenues grew 10 per cent QoQ mainly led by growth in transportation, broadcast & communication and healthcare segment. Ebit (earnings before interest and tax) margins increased around 300 basis points (bps) to 27.8 per cent. Meanwhile, profit after tax (PAT) increased by 33.3 per cent QoQ to Rs 105 crore.
Going forward, the company is expected to report robust numbers based on multiyear large deals won by the company and ramp-up of previous deals. In addition, the company's strategy to diversify into healthcare and broadband is bearing fruit.
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