Tata Elxsi Limited (TATAELXSI) — Financial Results | 24 April 2026

Tata Elxsi reported Q4 FY26 revenue of INR 993.8 crores, up 0.9% QoQ in constant currency, with EBITDA margin expanding 130 basis points to 24.6%. Transportation revenue contributed 77% of automotive revenue, while healthcare revenue declined 13.1% QoQ. Management highlighted strategic wins in APAC OEM and US mobility services, AI adoption via DevStudio.ai, and transition to fixed-bid contracts. Utilization stood at 73%, with capacity sufficient up to 80% before hiring. Growth expectations for FY27 have moderated to higher single digits due to geopolitical headwinds, though aerospace, battery energy storage, and manufacturing are identified as new growth vectors. Margin recovery is prioritized over market share, with cautious pricing observed but no systemic irrationality.