TATAELXSI

** Shares of Tata Elxsi TTEX.NS down about 2% to 5,685 rupees

** Engineering research and development co's Q3 profit dropped 45% to $12 mln, as a one-time charge tied to increased employee benefit provisions outweighed a 1.5% rev rise

** Revenue uptick concentrated among a small set of accounts; stock expensive in our view - Kotak Equities ("sell", TP 4,200 rupees)

** Stock, on average, rated"sell" by 14 analysts; median TP 4720 rupees - data compiled by LSEG

** Stock fell about 23% in 2025

(Reporting by Hritam Mukherjee in Bengaluru)

(([email protected];))

Jan 13 (Reuters) - Tata Elxsi Ltd TTEX.NS:

• Q3 NET PROFIT 1.09 BILLION RUPEES

• Q3 REVENUE FROM OPERATIONS 9.53 BILLION RUPEES

Further company coverage: TTEX.NS

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Corrects bullet 6 to say J.P. Morgan's price target for KPIT Technologies is 1,400 rupees, not 4,800 rupees

** Shares of Indian software engineering firms Tata Technologies TATE.NS and Tata Elxsi TTEX.NS jump 4% and 8%, respectively

** J.P.Morgan upgrades both stocks to "Neutral" from "underweight" as automaker clients resume R&D programs after trade deals ease tariff uncertainties

** Work on projects won in 2025 to ramp up this year, brokerage says, with Europe, APAC clients leading demand recovery

** Auto investments focused on hybrids, brokerage notes, with EVs set to recover in the medium term

** As demand recovers, brokerage lifts PT on TATE to 710 rupees from 570 rupees; TTEX's PT raised to 4,800 rupees from 4,000 rupees

** However, KPIT Technologies KPIE.NS ("Overweight," PT: 1,400 rupees) remains JPM's top pick in sector; currently up 4.3%

** TTEX, TATE had underperformed Nifty IT .NIFTYIT index in 2025 on demand worries

** In 2025, TATE dropped 28%, TTEX was down 23% and KPIE fell 20% vs IT index's 13% fall

(Reporting by Nandan Mandayam in Bengaluru)

(([email protected]; Mobile: +91 9591011727;))

** Shares of Tata Elxsi TTEX.NS fall 2.4% to 5,440 rupees

** Engineering research and development firm's Q2 profit fell 32.5% Y/Y to 1.55 bln rupees ($17.5 mln), revenue down 3.9% Y/Y

** Ambit raises PT to 4,230 rupees from 4,190 rupees; rates it "sell"

** Brokerage cites healthcare segment growth on multi-year deal with Bayer BAYGn.DE

** Trading volume more than 2x 30-day avg at 413,865 shares so far

** Average rating on stock by 14 analysts is "strong sell", mean PT of 4,578.46 rupees - data compiled by LSEG

** YTD, TTEX down about 20% vs Nifty 500 index's .NIFTY500 more than 4% gain

($1 = 88.7750 Indian rupees)

(Reporting by Vijay Malkar)

(([email protected];))

Oct 9 (Reuters) - Indian engineering research and development (ER&D) firm Tata Elxsi TTEL.NS reported a fourth straight quarter of widening profit fall on Thursday, as its key transportation business declined amid uncertain markets and geopolitical tensions.

The company, which relies heavily on the auto industry, said net profit fell 32.5% to 1.55 billion rupees ($17.46 million) in the July-September period year-on-year. In the previous three quarters, it had reported a profit fall of between 3.6% and 21.6%.

ER&D firms, which depend on work outsourced by U.S. and European clients, have been under pressure as global automotive clients cut back on investments and R&D spending, reeling from the impact of U.S. tariffs, according to analysts.

Tata Elxsi, which counts Jaguar Land Rover (JLR) among its largest clients, said in July that industry- and customer-specific issues had affected R&D spending and decision-making cycles across geographies.

It added that the global automotive industry remains in flux amid uncertainties surrounding the Chinese market and tariffs, casting a cloud over clients’ R&D plans, while major auto parts makers continue to face challenges.

JLR's temporary production shutdown following a September cyber attack in Britain is also expected to weigh on Tata Elxsi’s quarterly revenue, analysts had said ahead of the results.

Revenue from the transportation segment - Tata Elxsi's biggest - fell 9.9% year-on-year in the second quarter. The segment provides software and engineering services to auto and auto parts makers, including design of parts and technologies.

Its core profit margin came in at 21.1% in the quarter, down from 27.9% a year ago, but bigger than the 20.9% of last quarter.

Overall revenue fell by 3.9% to 9.18 billion rupees.

Shares of the company closed 2.1% higher ahead of results.

($1 = 88.7830 Indian rupees)

(Reporting by Aleef Jahan, Komal Salecha; Editing by Harikrishnan Nair)

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Sept 10 (Reuters) - Tata Elxsi Ltd TTEX.NS:

• TATA ELXSI LTD - LAUNCHES GLOBAL TECH CENTRE FOR BAYER IN RADIOLOGY

• TATA ELXSI LTD - LAUNCHES GLOBAL TECH CENTRE FOR BAYER IN RADIOLOGY

Source text: ID:nBSE8vbNH1

Further company coverage: TTEX.NS

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July 11 (Reuters) - Tata Elxsi Ltd TTEX.NS:

• TATA ELXSI AND SYNOPSYS COLLABORATE

• COLLABORATION FOR ADVANCED AUTOMOTIVE VIRTUALIZATION SOLUTIONS

Source text: [ID:]

Further company coverage: TTEX.NS

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June 19 (Reuters) - INFINEON TECHNOLOGIES AG IFXGn.DE:

• TATA ELXSI AND INFINEON PARTNER TO ACCELERATE EV INNOVATION IN INDIA

• TATA ELXSI AND INFINEON WILL WORK CLOSELY TO DEVELOP HIGH-VOLTAGE INVERTERS FOR TRACTION AND AUXILIARY SYSTEMS, SCALABLE BATTERY MANAGEMENT SYSTEMS (BMS), BI-DIRECTIONAL ONBOARD CHARGERS, AND HIGH-VOLTAGE THERMAL MANAGEMENT SOLUTIONS FOR INDIAN MARKET.

Source text: ID:nPrez74Zqa

Further company coverage: [IFXGn.DE]

(Gdansk Newsroom)

(([email protected]; +48 58 7696600;))

** Tata Elxsi TTEX.NS rises ~2%

** Software co says it has collaborated with an Indian unit of Mercedes-Benz MBGn.DE for vehicle engineering, development

** Co did not disclose any financial details

** YTD, TTEX falls 10.4%

(Reporting by Hritam Mukherjee in Bengaluru)

(([email protected];))

April 21 - ** Shares of IT services provider Tata Elxsi Ltd TTEX.NS up 8.75% to 5325 rupees

** Co misses Q4 revenue and profit estimates but reports having won two large deals worth $100 mln and $56.9 mln

** "We expect these deals to help drive a return to growth over the next couple of quarters," says JP Morgan

** Stock set for biggest one day pct gain in nearly 8 months

** With session's gains, shares trim 12-month decline to ~29%

(Reporting by Ananta Agarwal in Bengaluru)

(([email protected]))

April 17 (Reuters) - Tata Elxsi Ltd TTEX.NS:

• Q4 NET PROFIT 1.72 BILLION RUPEES; IBES EST. 1.82 BILLION RUPEES

• Q4 REVENUE FROM OPERATIONS 9.08 BILLION RUPEES; IBES EST. 9.24 BILLION RUPEES

• RECOMMENDS DIVIDEND 75 RUPEES PER SHARE

Source text: [ID:]

Further company coverage: TTEX.NS

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Feb 12 (Reuters) - Tata Elxsi Ltd TTEX.NS:

• TATA ELXSI AND GARUDA AEROSPACE SIGN MOU

• PARTNERSHIP TO DEVELOP INDIGENOUS UAV SYSTEMS FOR MULTIPLE APPLICATIONS

Source text: ID:nBSE7kShCC

Further company coverage: TTEX.NS

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Feb 5 (Reuters) - Tata Elxsi Ltd TTEX.NS:

• TATA ELXSI - GETS TAX ORDER WITH PENALTY OF 4.3 MILLION RUPEES

Source text: ID:nNSE5SXsy8

Further company coverage: TTEX.NS

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Jan 23 (Reuters) - Indian engineering and technology firm Cyient CYIE.NS reported a third-quarter profit below analysts' expectations on Thursday, hurt by slower growth in its biggest segment and higher costs.

Its profit declined to 1.22 billion rupees ($14.12 million) for the three months ended Dec. 31, from 1.47 billion rupees a year ago. Analysts had expected 1.71 billion rupees, according to data compiled by LSEG.

Growth in Cyient's transportation division — which contributes 30% to the company's biggest unit, digital, engineering and technology — has eased over the past few quarters due to delays in project starts in the aerospace segment and slowdown in the rail segment.

The downbeat results also echo those of peer engineering, research and design companies (ER&D) Tata Elxsi TTEX.NS and L&T Technology Services LTEH.NS.

ER&D services, which include providing technology support to industries such as aerospace, telecom and automotive, contribute a sixth of the revenue to India's $254-billion technology sector.

Cyient's total expenses rose 9% during the quarter, led by a 26% jump in its cost of materials consumed and a 6% rise in employee expenses.

Revenue from the company's digital, engineering and technology segment, which contributes more than 76% to its total revenue — fell 1%.

Its smaller design-led manufacturing business, Cyient DLM CYIT.NS, posted a 38% rise in revenue.

Cyient's total revenue rose 5.7% to 19.26 billion rupees, beating analysts' estimates.

($1 = 86.4040 Indian rupees)

(Reporting by Aleef Jahan)

(([email protected]))

Jan 21 (Reuters) - Tata Elxsi Ltd TTEX.NS:

• TATA ELXSI AND MINESPIDER PARTNER TO LAUNCH MOBIUS+

• MOBIUS+ IS ADVANCED BATTERY LIFECYCLE MANAGEMENT PLATFORM

Source text: [ID:]

Further company coverage: TTEX.NS

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** Shares of Tata Elxsi TTEX.NS fall 7.6% to 5,950.00 rupees, set to fall for third straight session

** Engineering and technology services firm's Q3 revenue up 2.7% y/y at 9.39 bln rupees ($109.36 mln), misses analysts' estimate of 9.69 bln rupees

** Q3 net profit was in line with analysts' expectations, fell 3.6% y/y to 1.99 bln rupees

** Trading vols at 501,279 shares, 2.3x 30-day average

** Relative strength index falls to 19.4, suggesting that stock might be oversold - LSEG

** TTEX fell 22.4% in 2024 vs 39.3% gains in 2023

($1 = 85.8640 Indian rupees)

(Reporting by Vijay Malkar)

(([email protected];))

Jan 9 (Reuters) - Tata Elxsi Ltd TTEX.NS:

• TATA ELXSI Q3 NET PROFIT 1.99 BILLION RUPEES; IBES EST. 2 BILLION RUPEES

• TATA ELXSI Q3 REVENUE FROM OPERATIONS 9.39 BILLION RUPEES; IBES EST. 9.69 BILLION RUPEES

Source text: [ID:]

Further company coverage: TTEX.NS

(([email protected];))

Jan 7 (Reuters) - Tata Elxsi Ltd TTEX.NS:

• CO, NATIONAL AEROSPACE LABORATORIES SIGN STRATEGIC PARTNERSHIP FOR ADVANCED AIR MOBILITY

Source text: ID:nBSE3hMJq4

Further company coverage: TTEX.NS

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Nov 18 (Reuters) - Singha Estate PCL S.BK:

• TATA ELXSI LTD - SUZUKI AND TATA ELXSI INAUGURATE OFFSHORE DEVELOPMENT CENTER IN PUNE

Source text: ID:nBSE4Fbd64

Further company coverage: S.BK

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Oct 16 (Reuters) - Indian engineering and technology services firm L&T Technology Services LTEH.NS on Wednesday reported second-quarter revenue that edged past estimates, boosted by large deals signed in the previous quarters, and maintained its full-year revenue forecast.

The company's revenue rose 7.8% to 25.73 billion rupees ($306.34 million) for the quarter ended Sept. 30. Analysts had expected 25.67 billion rupees, according to data compiled by LSEG.

The Larsen and Toubro LART.NS group firm reaffirmed its full-year 2025 revenue growth forecast of 8-10% .

Net profit rose 1.3% to 3.2 billion rupees in the quarter, lower than analysts' estimate of 3.33 billion rupees.

Shares of the company closed 0.7% higher, ahead of the results.

KEY CONTEXT

Engineering, research, and design (ER&D) services, which include technology support to industries such as automotive and communications, contribute a sixth of the revenue to India's $254 billion technology sector.

Companies such as L&T Technology Services and peer Tata Elxsi TTEX.NS are likely to benefit from growth in the ER&D sector, which, according to the National Association of Software and Service Companies, is expected to quadruple to as much as $170 billion between 2023 and 2030.

L&T Technology has bagged large deals from auto parts maker Forvia FRVIA.PA and energy giant Shell SHEL.L in the last few quarters, aiding its revenue growth.

Last week, Tata Elxsi reported an increase in its second-quarter profit, with revenue in line with street expectations, fuelled by healthy demand in its transportation unit.

PEER COMPARISON

* Mean of analysts' ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell

** Ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT

JULY-SEPTEMBER STOCK PERFORMANCE

-- All data from LSEG

($1 = 83.9920 Indian rupees)

(Reporting by Sai Ishwarbharath B; Editing by Abinaya Vijayaraghavan)

(([email protected];))

** Shares of Tata Elxsi TTEX.NS rise as much as 2.9% at 7,985 rupees; stock currently up 0.5%

** Design tech services co's Q2 profit rose 14.7% y/y, beating analysts' estimates, helped by healthy demand in its transportation division
** Rev rose 8.3% to 9.55 bln rupees ($113.7 mln)

** Stock eyes fourth straight session of gains

** Analysts, on avg, rate TTEX "sell"; median PT 6,600 rupees - LSEG data

** Stock down ~10% YTD, while IT index .NIFTYIT is up ~19%

($1 = 83.9720 Indian rupees)

(Reporting by Yagnoseni Das in Bengaluru)

(([email protected];))

Oct 10 (Reuters) - Tata Elxsi Ltd TTEX.NS:

• Q2 NET PROFIT 2.29 BILLION RUPEES; IBES EST 2.05 BILLION RUPEES

• Q2 REVENUE FROM OPERATIONS 9.55 BILLION RUPEES; IBES EST 9.56 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: TTEX.NS

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Oct 9 (Reuters) -

• CHAIRMAN EMERITUS OF INDIA'S TATA GROUP RATAN TATA IN CRITICAL CONDITION IN INTENSIVE CARE IN MUMBAI HOSPITAL- SOURCES

Source text for Eikon: [ID:]

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Sept 24 (Reuters) - Tata Elxsi Ltd TTEX.NS:

• DELIVERS RDK-B INTEGRATION ON QUALCOMM 5G FIXED WIRELESS ACCESS PLATFORM

• LOOKING AHEAD, CO WILL UPGRADE PLATFORM TO INCLUDE NEXT-GEN FEATURES

Source text for Eikon: ID:nBSE5VXCzX

Further company coverage: TTEX.NS

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** Shares of technology services co Tata Elxsi TTEX.NS up 14% at 8,752 rupees, its steepest climb since May 13, 2022

** About 293,800 shares traded in block deals at a premium of 2%-14.6% over last close of 7,683.05 rupees - LSEG data

** Shares see busiest day since June 2022, with more than 3.6 mln shares traded

** Avg rating of 9 analysts covering the stock is "sell;" their median PT is 6,470 rupees - LSEG

** Stock is flat YTD, while the Nifty IT index .NIFTYIT is up 17.5%

(Reporting by Aleef Jahan in Bengaluru)

(([email protected]))

July 23 (Reuters) - Nidec Corp 6594.T:

• JAPAN'S NIDEC CORP - EXECUTED MOU WITH INDIA'S TATA ELXSI, A DESIGN AND TECHNOLOGY SERVICE PROVIDER

Source text for Eikon: ID:nTSsw871b3

Further company coverage: 6594.T

Corrects spelling of Elxsi in headline

** Shares of Tata Elxsi TTEX.NS down 2.4% at 6,931 rupees, lowest since June 6

** Design tech services co's Q1 profit fell 2.6%, hurt by higher expenses, while rev rose about 9%

** FY25 growth is expected to be limited given weak FY24 exit, Axis Capital said, keeping "sell" rating

** At least seven analysts out of 10 tracking stk rate it at "sell" or below; median PT 6,525 rupees

** Stk down ~19% YTD, while IT index .NIFTYIT is up ~5%

(Reporting by Sethuraman NR in Bengaluru)

(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))

July 10 (Reuters) - Tata Elxsi Ltd TTEX.NS:

• JUNE-QUARTER NET PROFIT 1.84 BILLION RUPEES

• JUNE-QUARTER TOTAL INCOME FROM OPERATIONS 9.59 BILLION RUPEES

Source text for Eikon: ID:nBSE6PRVBq

Further company coverage: TTEX.NS

(([email protected];))

June 14 (Reuters) - Tata Elxsi Ltd TTEX.NS:

• TATA ELXSI LTD - COLLABORATES WITH RED HAT

• TATA ELXSI LTD - COLLABORATES WITH RED HAT TO MONETISE APPLICATIONS AND REDUCE OPERATIONAL EXPENDITURES

Source text for Eikon: [ID:]

Further company coverage: TTEX.NS

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